Candidly Unveils Multi-Agent AI Platform
Candidly today launched Cait, an artificial intelligence (AI)-powered assistant tool that offers financial guidance on topics including student loan repayment and college planning.
The new feature incorporates a multi-agent architecture, where employees can receive information on the “interconnected nature of education financing, debt management, and wealth building,” said Ben Levine, chief product officer at Candidly, in an announcement.
This includes topics on student debt optimization and public service loan forgiveness programs; college planning and savings (like 529 education savings plans, tax-advantaged investment strategies, scholarship optimization, and education financing decisions), and the student loan retirement match provision offered through SECURE 2.0 legislation.
“Cait isn’t another chatbot. It’s a sophisticated multi-agent system that delivers deep expertise across the interconnected challenges of education financing,” noted Candidly Founder and CEO Laurel Taylor in a LinkedIn post announcing the tool. “Through extensive testing with over 2 million simulated user interactions, we’ve shown that people guided by Cait are 68% more likely to find repayment plans that save them money, with average lifetime savings of $32,800.”
The launch comes as an influx of workers report concerns on reaching their financial goals due to increases in inflation and debt. Others are continuing to pay off their college debt well into their retirement years. A 2024 study by The New School’s Schwartz Center for Economic Policy Analysis found that seasoned workers who take on student loan debt could be repaying their loans throughout retirement, with those ages 55 to 64 expected to repay their loans within 11 years, while workers 65 and over likely to pay back their loans in 3.5 years, on average.
With Cait, Taylor says Candidly hopes to amplify the links between college debt, planning, retirement, and other facets that make up financial wellness and wellbeing.
“Cait understands that student debt, college planning, and retirement aren’t separate financial challenges,” she added. They’re one interconnected journey that requires holistic guidance that’s been accessible only to the wealthy, until now.”
Candidly is an AI-student debt and savings optimization platform that partners with employers and financial services companies who serve 401(k) and 403(b) recordkeepers, retirement plan advisors, and others.
SEE ALSO:
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Older Workers’ Retirement Security Threatened by Student Debt Hurdles
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
