Caring for Our Own

About the Program

Category: Personnel Management, Employment and Training (Best in Category)

Year: 2017

The “Caring for Our Own” program was created to help reduce the financial stress many Boulder County employees encounter due to student debt repayment, while also directly exposing employees to an important client referral resource. High housing costs are difficult to avoid in this area, so the county’s Financial Counseling staff from the Housing & Human Services (HHS) Department became student-loan-debt-certified to assist other county employees with what tends to be the second highest monthly payment after housing costs. Caring for Our Own officially began in May 2016 when overview presentations were made to more than 60 employees to help explain student loan debt options, including one option - Public Service Loan Forgiveness (PSLF) - which county staff members are potentially eligible for as government employees. Teams worked one-on-one with more than 40 participants over six months to determine best repayment options while considering individual short- and long-term financial goals. Financial Counselors helped with navigating eligibility for PSLF, which limits payments to 10 years (rather than up to 30 years) with the remainder of the debt forgiven with no tax consequence. If staff participants were not qualified, counselors helped find the best alternative payment option. Through Taking Care of Our Own, the financial health, awareness, and confidence of Boulder County employees was greatly increased. Participants gained experiential familiarity with Financial Counseling services and as a result, have referred more external clients to HHS Financial Counselors with confidence and enthusiasm.