Some very compelling figures on how a student loan retirement match solution can really make an impact for workers saddled with student loan debt come in the form of a new report released this week from Candidly, which bills itself as the market’s only AI-driven student debt and savings optimization platform.
The 2024 Candidly Impact Report found that the New York-based provider’s Student Loan Retirement Match program, operationalizing the SECURE 2.0 provision enabling employers to match employees’ student loan payments with retirement contributions led to a 13.5% increase in first-time retirement plan participation and a 27% increase in employees maximizing their employer’s match offering.

Additionally, the report found participants in Candidly’s Student Loan Retirement Match program had average annual retirement contributions of $3,300 per participant; projected additional retirement savings of $48,800 per participant by the time of retirement; and a 58% reduction in likelihood of turnover among participating employees.
“2024 marked a transformation in how we approach student debt, turning it from a barrier into a bridge to financial security, in partnership with employers committed to employee financial health and wellness,” said Laurel Taylor, CEO and Co-Founder of Candidly. “The data is compelling: 30% of our employer pipeline now recognizes that student debt forces their workers to miss out on one of their most valuable wealth creating benefits: the retirement match.”
Other announced milestone achievements in the company’s 2024 Annual Impact Report include cumulative $1.8 billion in projected student debt impact and over 200,000 years saved off of student debt repayment.
The Student Loan Retirement Match program’s success has driven rapid adoption, with Candidly’s SECURE 2.0 implementations tripling between 2023 and 2024. Early 2025 momentum shows even stronger growth, with more employers implementing the Student Loan Retirement Match solution in January 2025 than in all of 2024, and a 121% CAGR in median employee adoption across large, mega, and jumbo-sized employers.
More innovation
Candidly further expanded its impact beyond student loan debt in 2024 with the launch of Onward. This new solution leverages AI to offer customized strategies for optimizing savings across all consumer debt categories. Initially available as a B2B2C API-based solution for financial and retirement industry partners, Onward will launch its user-facing interface later this year.
In addition to these latest innovations, Candidly’s core solutions, which enable users to repay student debt and plan and pay for college, delivered significant impact in 2024:
- The company’s Public Service Loan Forgiveness (PSLF) solution saw record engagement, with 46% of all-time applications submitted in 2024 alone, projecting an average forgiveness of $50,788 per user, and realizing a three-fold increase in employee enrollment in PSLF among employers who offer Candidly’s digitized solution for the federal program.
- Users who leveraged the Core platform to qualify for an income-driven repayment plan experienced an average $347 per-month reduction on their student loan bills.
- Employer-sponsored student loan contributions facilitated by Candidly led to a projected average of $5,000 in savings on interest per user, and a four-and-a-half-year reduction in repayment time.
- The newly launched Tuition Reimbursement solution prevented over $1.1 million in potential student debt, with users receiving an average reimbursement of $3,434.
- Notably, all of Candidly’s solutions strongly impacted employee retention, with participation reducing turnover likelihood by 33-58% across different programs.
“While student debt continues to pose unprecedented complexity and confusion for millions of Americans, we’re honored to serve as the calm amidst this ongoing crisis by providing clarity and guidance through our innovative, AI-enabled solutions,” Taylor continued. “The only way to pace with and present personalized guidance through the daily twists and turns on student debt is through the application of technology, in a modern, mobile-first experience.”
Access the 2024 Candidly Impact Report here.
SEE ALSO:
• Student Loan Matching in Retirement Plans: Tips for Advisors and Clients
• Walgreens Launches Student Loan 401(k) Match Program
• IRS Issues Guidelines on Retirement Matches for Student Loan Repayments