Latest news with #LaurelTaylor
Forbes
4 days ago
- Business
- Forbes
Inside Private Equity's $29 Trillion Retirement Savings Grab. Plus: What The Coldplay Incident Teaches Us About Office Romance
This is this week's ForbesWomen newsletter, which every Thursday brings news about the world's top female entrepreneurs, leaders and investors straight to your inbox. Click here to get on the newsletter list! I f you are one of the 40 million Americans with student loan debt, you likely know that this week, the Department of Education suspended student loan forgiveness under the Income-Based Repayment plan, or IBR. The DOE says the suspension is temporary and a result of needing to update 'systems' to account for recent court injunctions around the SAVE plan, a new income-driven repayment option created by the Biden administration in 2023. Yet, temporary or not, fintech founder and CEO Laurel Taylor says that the recent ping-ponging of federal student loan policies has created unprecedented 'chaos and confusion' for borrowers. Taylor founded student loan repayment platform Candidly in 2016 after her own experience with student debt, and she and I recently sat down for a video interview in San Francisco, where she is based, to talk about how she's growing her company in spite of the turbulent political environment and what she's hearing from borrowers. 'There's just a lot of fear. There's a lot of fear and distress around, 'are these programs going to be available? Am I going to be able to continue to access them?'' Taylor told me. And Candidly's job, she says, is to communicate to borrowers exactly what options are available to them. Candidly reaches consumers through their employers (Vanguard, Schwab, and Guild Education are just three companies that offer Candidly as an employee benefit), and Taylor says she feels, every day, the 'urgency' around making loan repayment options as accessible as possible. If you are a borrower looking for the latest news around federal student loan policies, I recommend checking out Forbes senior contributor Adam Minsky's comprehensive coverage, including his latest piece on the provisions from the GOP budget bill that are taking effect as we speak. And to see my full conversation with Laurel Taylor—which also includes an important bit on why it's important for founders to pay themselves, and the mistake she herself made around this—click through here. Cheers! Maggie McGrath Exclusive Forbes Profile: Inside Private Equity's $29 Trillion Retirement Savings Grab Wellington Management CEO Jean Hynes argues the ordinary person can no longer invest in the entire economy without getting into private assets. MICHAEL PRINCE FOR FORBES Private asset managers have been gathering money from high-net-worth individuals for more than a decade. Until now, though, they haven't cracked regular investors' $29 trillion retirement nest egg. In April, Vanguard and Wellington announced that they had formed a 'strategic alliance' with Blackstone to offer products for individual investors blending private and public market assets. 'If you look holistically at the economy, 20 years ago the average person who invested and bought mutual funds could invest in the whole economy. And that's not true today,' Wellington Management CEO Jean Hynes told Forbes . 'You have a whole part of the economy that is only for the institutional investor, and that's all the private companies.... It's fair that more individuals have access to that.' ICYMI: News Of The Week Jennifer Love Hewitt attends the premiere of Columbia Pictures' 'I Know What You Did Last Summer' at The United Theater. (Photo by) Getty Images When photos of Jennifer Love Hewitt in a black spaghetti-strap dress appeared last week after she stepped onto the red carpet for the Los Angeles premiere of I Know What You Did Last Summer remake, a wave of ageist and body-shaming commentary quickly ensued online. As ForbesWomen contributor Virgie Tovar asks in this new piece, has Hewitt gone full circle from being hypersexualized at 18 to being slammed for aging at 46, or are body-shaming and hypersexualization—though seemingly opposite—just two sides of the same coin? On Wednesday, security and compliance software company Vanta announced a new $150 million fundraise that values the company at $4.15 billion, up from $2.45 billion when it last raised money a year ago. Vanta cofounder and CEO Christina Cacioppo said the company pulled in the funding despite not explicitly setting out to raise more—and hasn't yet touched the $150 million it raised a year ago. For 60 years, kids' TV cast boys as 'doers' and girls as passive, a new study published in Psychological Science finds. Researchers examined scripts from 98 children's television programs in the U.S. spanning from 1960 to 2018 to see how often male and female characters were portrayed as active agents (those who do) versus passive recipients (those who are done to). Perhaps most shockingly, when the researchers examined how this language has changed over time, they found that it hadn't. Veteran tennis player Venus Williams, who recently returned to the court after a 16-month layoff, has been granted a wild card entry to next month's Cincinnati Open. A seven-time major champion, the 45-year-old became the oldest player to win a WTA singles match since 2004 when she defeated fellow American and world No. 35 Peyton Stearns at the Washington Open on Tuesday. U.S. Attorney General Pam Bondi told President Donald Trump he was named multiple times in the Epstein files at a routine briefing in May, the Wall Street Journal reported Wednesday, citing unnamed senior administration officials, though just last week Trump denied Bondi said he was named in the documents, the latest turn of a quickly escalating White House crisis. The Checklist 1. Figure when to borrow, pass, or pay cash. If you're buying an asset, is it expected to appreciate or produce income? If you're not purchasing an asset, is the loan for education or lifestyle expenses? These are just two of several important questions to ask yourself before you take on debt. 2. Rethink your office romance policy. The viral Coldplay concert video, showing former Astronomer CEO Andy Byron and his HR chief Kristin Cabot caught in an intimate moment, was viewed by over 100 million people. The incident has provoked a lot of conversation around office romances, and it's worth noting that organizational bans on workplace romance may have the unintended effect of making these relationships even more tempting. Researchers have found that forbidding something can increase desire, simply because it's off-limits. 3. Build a pipeline of future leaders. Gallup finds that only 1 in 10 people naturally possess the skills to manage others effectively. But many people are promoted based solely on past performance in roles that didn't require leadership at all—and this can result in business chaos. Here's how to train your organization's best talent before they become managers. QUIZ The meme stock craze is alive and well this week, with some investors juicing companies that are otherwise struggling, or that spark nostalgia. One analyst warns that when trading meme stocks, '[Y]ou're not investing in fundamentals, you're betting on crowd psychology.' Which of the following is not a meme stock seeing atypical gains this week? Blockbuster Kohl's GoPro Krispy Kreme Check your answer. Liked what you read? Click here to get on the newsletter list!
Forbes
10-06-2025
- Business
- Forbes
Don't Rush To Pay Off Student Loans—Build A Buffer With These Savings Accounts First
Just graduated and wondering if you should throw your whole paycheck at student loans? You're not alone. 'I used to think being debt-free was the only goal,' says Laurel Taylor, founder of the student loan debt platform Candidly. 'But peace of mind? That comes from balance.' That balance starts with your first financial move: smart saving. Because even in a high-rate world, putting yourself first—yes, even before student loan debt—can be a strategic flex. Here's the good news: Most federal student loans come with fixed interest rates (6.53% for undergrads, 8.08% for grad and professional students at the time of publication), way lower than the 21% interest you'd rack up on a credit card if your car breaks down or your job search stalls and you start charging daily expenses to get by. That's where your emergency fund comes in. We reviewed hundreds of high-yield savings accounts (HYSAs) and certificates of deposit (CDs) to find options for recent grads who want to stay stable, stack interest and still chip away at debt. In this story, you'll learn the smartest places to grow your savings, plus expert-backed strategies to balance student loan debt, avoid burnout and start building real financial momentum. Related: Looking for the perfect banking solution? Compare products from multiple banks with Forbes Advisor. Before you throw your entire paycheck at your loans, take a breath. Slamming all your cash into debt might feel responsible, but it can backfire fast. "If I could go back and give my younger self advice, it would be to take a balanced approach," Taylor says. That means covering your minimum payments while leaving room to invest in your future self. If you don't have savings or a safety net, a surprise like car trouble, a medical expense or job loss could send you into a financial crisis. Step back and assess your income, expenses and interest rates to build a plan that lets you chip away at debt while also protecting your savings account. "Always have an emergency fund," says Arizona State Treasurer Kimberly Yee. 'In the short term, definitely pay down debt to avoid accruing interest. But new graduates can build their future with a long-term savings plan and maximize the power of compound interest.' If you have private loans with high interest rates, you should prioritize those first. Jenny Twomey of Earnest, a student loan refinance and lending company, recommends starting by focusing any extra payments on loans with higher interest rates (for example, anything above 8%). If your loans have manageable terms, though, she agrees with the other experts—start saving while chipping away at debt. Not every graduate steps into a high-paying job or a stable career path. Your loan strategy should reflect your financial reality, not someone else's. "Never spend more than you make," Yee says. 'Use the 50/30/20 rule [for your spending]: 50% needs, 30% wants, 20% savings.' Income-driven repayment plans on federal student loans adjust based on your earnings. That's why Brian Safdari, CEO of College Planning Experts, advises recent grads with modest incomes to start with lower monthly payments and focus on building their cash reserves. As your income grows, increase your student loan payments to reduce principal and save on interest. Private student loans typically come with fewer options and higher interest rates. Taylor recommends prioritizing these over federal loans when deciding which debt to pay down first. Federal loans often allow more flexibility, including deferment, forbearance and access to forgiveness programs. Once your repayment plan is in place, the next step is growing your savings strategically. High-yield savings accounts and CDs are two of the safest, most reliable tools to build your financial cushion. No market risk required. We've analyzed hundreds of options to bring you products worth considering based on yield, flexibility and fees. Just remember: your financial goals and timeline should shape your decision, so shop around and make sure these accounts work for you. A HYSA is one of the easiest and safest ways to grow your money, without taking on risk. For new grads balancing student loan payments with big life transitions (hello, first apartment, first job, first 'surprise' expense), a HYSA gives your savings a chance to earn while staying liquid and accessible. Unlike traditional savings accounts that offer minimal returns, these accounts earn significantly higher interest, often 10 times more, without tying up your cash. Whether you're building an emergency fund or stashing cash for short-term goals, these options offer strong APYs, no monthly fees and peace of mind. Every account listed is federally insured up to $250,000. Here are some of the best high-yield savings accounts worth considering: 1. Synchrony High-Yield Savings Account - Rates and details as of 6/9/25 2. Capital One 360 Performance Savings - Rates and details as of 6/9/25. 3. Barclays Online Savings - Rates and details as of 6/9/25. Read more: Our picks of the best high-yield savings accounts If you've got some extra savings you won't need for a while, certificates of deposit can offer even higher interest rates than most savings accounts, without any market risk. CDs reward patience: the longer you commit to keeping your money in the account, the more you can earn. For new grads, short- to mid-term CDs can be a strategic move, especially for money you're not planning to spend soon (like savings for grad school or a future move). Just be sure you won't need to dip into these funds early, since early withdrawal penalties can cancel out your earnings. Here are three CD products worth considering: 1. Service Credit Union 6-Month Share Certificate - Details as of 6/2/25. 2. Capital One 12-Month CD - Rates and details as of 6/9/25. 3. Synchrony 3- and 5-Year CDs - Rates and details as of 6/3/25. Read more: Our picks of the best CD rates And while locking in savings is smart, don't overlook how loan forgiveness programs could boost your long-term finances, especially if you're in a qualifying career path or repayment plan. Safdari warns that many grads rush to pay off loans without considering potential forgiveness programs, often missing out on long-term savings. But rules around forgiveness aren't as clear as they used to be. Recent court rulings have paused forgiveness under some income-driven repayment plans, such as SAVE. That's because SAVE, like several other repayment options, was created by the Department of Education, not directly by Congress, and doesn't require a vote to be changed. But that doesn't mean forgiveness is gone entirely. Forgiveness under the Income-Based Repayment (IBR) Plan is still allowed. If you switch to IBR, any payments you've made under paused plans like SAVE may still count toward the forgiveness timeline under IBR. Other forgiveness paths remain available as well. For example, under the Teacher Loan Forgiveness Program, qualifying teachers can receive up to $17,500 in federal student loan forgiveness if they work five consecutive years in a low-income school or agency. Additional eligibility criteria, like qualifications and loan type, apply. "The biggest mistake is not having a plan," Safdari says. 'Hire a financial coach or advisor. Don't try to pay too fast if forgiveness applies to your career.' Taylor also encourages new grads to explore additional state-based programs for professions such as education, healthcare, social work and veterinary work. Twomey notes that many federal borrowers are defaulted into the standard 10-year repayment plan, even when income-driven options would be a better fit. "There are multiple repayment plans, and understanding each is key to choosing the right one," she says. Graduating with student debt is a heavy lift, but it doesn't have to hold you back. Build a strategy that fits your life, make use of the tools and programs available to you and don't be afraid to ask questions. As Yee puts it, 'Achieving financial freedom is a gift worth working toward.' Related: Looking for the perfect banking solution? Compare products from multiple banks with Forbes Advisor.
Business Wire
29-04-2025
- Business
- Business Wire
Schwab Expands Student Loan Matching, Debt Management and College Planning Resources in Collaboration With Candidly
WESTLAKE, Texas--(BUSINESS WIRE)--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. 'As we continue to expand overall financial wellness offerings for clients, we're very pleased to be working with Candidly to help employees and employers navigate student loan debt and college planning,' said Lee McAdoo, Managing Director, Schwab Retirement Plan Services. 'Our clients who are evaluating student loan retirement matching can see value in Candidly's independent reporting, which gives them the visibility, confidence, and support they need to offer this powerful benefit.' SRPS plan sponsor clients can also leverage Candidly's detailed analysis and reporting capabilities to determine how many of their employees are carrying student loan debt. This can help them better understand the impact student loan retirement matching could have on their overall benefits program, as well as the increased 401(k) plan participation that may result. 'By integrating Candidly's technology with Schwab Retirement Plan Services' capabilities, we're helping employers transform student debt from a financial barrier into a bridge to retirement security,' said Laurel Taylor, Founder and CEO of Candidly. 'The SECURE 2.0 provisions create an unprecedented opportunity to tackle two critical financial challenges simultaneously – student debt and retirement readiness. Together with Schwab Retirement Plan Services, we're delivering on our promise to create pathways from debt to opportunity for plan participants.' About Charles Schwab At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity. More information is available at Follow us on X, Facebook, YouTube and LinkedIn. Disclosures The Charles Schwab Corporation provides services to retirement and other benefit plans and participants through its separate but affiliated companies and subsidiaries: Charles Schwab Trust Bank; Charles Schwab & Co., Inc.; and Schwab Retirement Plan Services, Inc. Trust, custody, and deposit products and services are available through Charles Schwab Trust Bank, Member of FDIC. Brokerage products and services are offered by Charles Schwab & Co., Inc. (Member SIPC, Schwab Retirement Plan Services, Inc. is not a fiduciary to retirement plans or participants and only provides recordkeeping and related services. 'We,' 'us,' and 'our' refer to Schwab Retirement Plan Services, Inc. Candidly is not affiliated with Schwab Retirement Plan Services, Inc. or its affiliates. 0425-L3UD
Yahoo
11-03-2025
- Business
- Yahoo
Candidly's Laurel Taylor Named to Inc. 2025 Female Founders List
NEW YORK, March 11, 2025--(BUSINESS WIRE)--Candidly, the market's only AI-driven student debt and savings optimization platform, announced today that its Founder and CEO, Laurel Taylor, has been named to Inc.'s Female Founders list for 2025. Taylor's journey to founding Candidly began with her own experience accumulating student debt. The financial burden forced Taylor and her mother to forgo a combined two decades' worth of wealth-building opportunities. Since founding Candidly in 2016, Taylor has helmed its mission to close the most critical and prevalent gaps in financial wellness by creating employee benefits solutions that empower workers to make simultaneous progress on paying down debt while building wellness and wealth. "Being named to Inc.'s Female Founders 500 reinforces what drives our impact at Candidly – the power of building from lived experience. Having carried six figures of student debt myself, I understand firsthand the weight of indebtedness that millions face daily. This recognition celebrates not just my journey but our team's relentless pursuit of transforming financial futures through AI-powered solutions that make the complex simple. We're not just building technology. We're creating pathways from debt to wealth for hardworking Americans of all ages and wages, with urgency and purpose." Under Taylor's leadership, Candidly has forged distribution partnerships with financial industry giants, including Guild, Hub, Empower, Intellicents, Lincoln Financial Group, PNC, Vanguard, and several others (not yet announced), secured the support of tier-one institutional investors (including a $20.5 million Series B financing round), and demonstrated its impact through organizational achievements including: Enabling its users to generate $1.8 billion in projected student debt impact Reducing the likelihood of employee turnover by 58% through its Student Loan Employer Contribution solution Increasing first-time retirement plan participation by 13.5% through its Student Loan Retirement Match solution This year marks Inc.'s eighth edition of its Female Founders list, which analyzes criteria including funding, revenue, and stories of impact to honor women entrepreneurs whose innovations and ideas are leading their industries forward. To see the complete list of honorees, please visit: About Candidly Candidly is an AI-driven student debt and savings optimization platform that addresses the full lifecycle of education expenses and empowers people to make simultaneous progress on paying down student debt and building wealth. Candidly partners with leading employers and financial services companies serving the workplace like 401(k) and 403(b) recordkeepers, retirement plan advisors, and more, creating a holistic and inclusive workplace benefit and embedded finance solution. Candidly is backed by leading venture capital and strategic investors including Aflac, Altos Ventures, Breton Capital, Cercano Management, Impact Engine, Rethink Impact, Salesforce Ventures, UBS, and Unum. For more information, visit View source version on Contacts For media inquiries, please contact:Colin Sign in to access your portfolio
