Candidly’s Partnership With American Eagle Outfitters Helps Pay Down More Than $100,000 of Student Debt for Associates

Rhea-AI Summary

American Eagle Outfitters, Inc. (NYSE: AEO) has partnered with Candidly to enhance financial wellness for its associates through student loan repayment solutions. The retailer has contributed over $100,000 to assist employees in managing their student debt, resulting in a total impact exceeding $2.8 million and reducing repayment time by 766 years for its staff. This initiative is aimed at supporting the financial health of AEO's associates, appealing particularly to college graduates seeking employment. AEO's initiative underscores its commitment to associate well-being, positioning itself as an attractive employer in the retail sector.

Positive

• AEO has facilitated over $100,000 in contributions to associates' student loan debt.
• Total impact of the partnership with Candidly exceeds $2.8 million.
• Repayment time reduction of 766 years for employees' student loans.
• Provides financial wellness benefits to tens of thousands of US-based employees.

Negative

• None.

The partnership enables AEO to support their associates by providing student loan repayment solutions and long-term financial wellness guidance

NEW YORK--(BUSINESS WIRE)-- Candidly, the market’s most comprehensive student debt management platform, today announced that American Eagle Outfitters, Inc. (NYSE: AEO), a leading global specialty retailer, has facilitated more than $100,000 in contributions to associates’ student loan debt, creating $2.8M+ of total impact and shaving 766 years off associates’ repayment time. Candidly, together with AEO, offers student debt and financial wellness benefits to tens of thousands of the retailer’s US-based employees.

AEO associates can use Candidly’s platform to find the best-priced borrowing options, prepare and plan for college, pay for college, explore forgiveness and federal student debt savings programs, and build financial wellness. These core offerings are available to full-time and part-time US-based associates at all of AEO corporate offices, distribution centers and retail stores. Additionally, full-time associates who have completed at least two years of service to the company can also receive a monthly, tax-free student loan contribution from AEO through Candidly.

“At AEO, our people come first and we are committed to providing associates the tools and resources they need to meet their personal financial health and wellness goals,” said Jessica Catanese, SVP of Total Rewards at AEO Inc. “Our partnership with Candidly has been well-received, and we are thrilled to reach this major milestone in helping our associates repay more than $100,000 of outstanding student loans.”

AEO associates have access to a dynamic platform that offers personalized solutions to meet their unique financial needs and goals. This comes at a pivotal time when employers across industries look for ways to support the health and well-being of their workforces. Student loan repayment solutions have come to the forefront as a top benefit sought out by employees.

“By directly addressing student debt within the workplace, AEO is recognizing the full spectrum of financial health and wellness across their associate population,” added Laurel Taylor, CEO and founder of Candidly. “As partners, we are thrilled to serve and create greater financial freedom for their associates while positioning AEO as a highly attractive employer for college students and graduates.”

About Candidly

Candidly, formerly FutureFuel.io, 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, financial services companies serving the workplace like 401(k) and 403(b) recordkeepers, financial institutions, retirement plan advisors and more, to embed its experience anywhere a user works, banks, or experiences financial services. The platform supports flexible integration options including outlink, SSO, widget integration, and APIs that meet partners where they really are in resourcing, technical debt, and product resourcing/roadmap capacity. Candidly supports multiple branding options including white labeling and co-branding.

Candidly understands that education is one of the largest investments most people will make in a lifetime — whether for themselves or their children. Candidly brings compassion, authenticity, and confidence to Americans as they navigate their higher education pursuits — past, present and future. Candidly is backed by leading venture capital and strategic investors including Aflac, Equal Opportunity Ventures, Impact Engine, Rethink Impact, Salesforce Ventures, UBS, Unum, and Vulcan Capital. For more information, visit www.candid.ly.

About American Eagle Outfitters, Inc.

American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle® and Aerie® brands. Our purpose is to show the world that there’s REAL power in the optimism of youth. The company operates stores in the United States, Canada, Mexico, Hong Kong and Japan, and ships to approximately 80 countries worldwide through its websites. American Eagle and Aerie merchandise also is available at more than 260 international locations operated by licensees in approximately 30 countries. In 2022, AEO released its first annual Building a Better World report, which outlines two decades of ESG achievements through the company’s Planet, People and Practices initiatives. For more information, please visit www.aeo-inc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005298/en/

Colin Crook, Candidly

Colin.Crook@getcandidly.com

Source: Candidly

FAQ

What is the partnership between AEO and Candidly about?

The partnership focuses on providing student loan repayment solutions and financial wellness resources for AEO's associates.

How much has AEO contributed to associates' student loan debt?

AEO has facilitated over $100,000 in contributions to help associates manage their student loan debt.

What is the total impact of AEO's student loan repayment initiative?

The total impact exceeds $2.8 million, benefiting many AEO associates.

How many years of repayment time has been cut for AEO's associates?

The initiative has reduced repayment time by 766 years for employees' student loans.

What employees are eligible for AEO's financial wellness programs?

All full-time and part-time US-based associates at AEO corporate offices, distribution centers, and retail stores are eligible.