Financial stress can have an impact on student outcomes. When teachers are stressed, students show “lower levels of both social adjustment and academic performance".
Teacher turnover also has a negative impact, especially on lower-performing students. It's in the best interest of both school districts and their employees to put in place solutions that can improve employees' financial wellbeing in a measurable, truly impactful way.
Giving employees a way to access their own working capital (their salaries) through low-cost, salary-linked loans returns dignity to them and is a more equitable, inclusive solution than the alternatives, which are high-cost and in many cases, predatory.
Automatic repayment through salary deduction means less risk of missing a payment or going delinquent. Regular repayment helps build credit, so they can more easily and affordably participate in the financial system in the future.
Financial education that covers topics employees need the most help with, like what to do if they lose income, how to build up savings, and how to reduce spending.