Schwab Joins Forces with Candidly To Offer Expanded Education and Loan Assistance For 401(k) Participants

Schwab Retirement Plan Services (SRPS) today announced expanded student loan and college planning resources available to 401(k) plan participants through an agreement with Candidly, a leading student loan and education benefits platform.

The collaboration includes participant access to Candidly Core, a suite of tools and resources designed to help employees optimize their repayment strategy and save significant time and money as they work toward eliminating student loan debt. Candidly Core also offers college planning resources, including a 529 plan finder and calculators to help with decision making. Through an integrated online experience, participants have one-click access to Candidly resources directly from the SRPS participant website.

Expanded Student Loan Retirement Matching Capabilities

Schwab and Candidly are also offering an integrated solution for employers implementing a student loan retirement match for their 401(k) plans as allowed by the SECURE 2.0 Act. Through this collaboration, Candidly verifies that participants have properly completed the self-certification process, which allows them to confirm their qualified student loan payments, and provides that information to SRPS, which can then calculate the employer match and fulfill the contributions.