News - January 2, 2024
CONTACT: Emily Chavez Emily.Chavez@FinnPartners.com | 202.420.7565
FOR IMMEDIATE RELEASE
Alexandria, VA – Clinical team members of Goodwin Living™, a faith-based, not-for-profit senior living and healthcare services organization in the National Capital Region, can receive up to $5,250 annually in student loan repayment grants starting this month. Launched on Jan. 2, 2024, the student loan repayment program is one of the first of its kind in the region intended to help attract more clinical professionals to the field of senior living and health care services. With the number of older adults rising after decades of declining birth rates, the United States faces a significant deficit of talent to serve a rapidly aging population.
“Ten thousand older adults turn 65 every day in the United States,” said Melinda Gren, Goodwin Living Vice President of Performance and Operations for Home and Community Based Services. “The demand for clinical services to support these older adults is dramatically outpacing the supply of talent, which is why Goodwin Living and the Goodwin Living Foundation are launching this student loan repayment program.”
Goodwin Living found that the average student loan debt for its clinical team members, including physical, speech and occupational therapists; nurses; dietitians; and social workers, was $109,000. Combined with the cost of living in the region, this debt load creates added stress on team members and requires many to maintain second jobs. Gren and others saw the potential for the Goodwin Living Foundation to launch a student loan repayment program and incent more clinical professionals to choose senior living and healthcare as a career. The Goodwin Living Foundation exists to support the mission of Goodwin Living through philanthropic initiatives and programs.
“The idea that the Goodwin Living Foundation can ease the burden of student loans on our clinical team members is transformational,” said Joan Renner, Chair of the Goodwin Living Foundation Board of Directors. “If you think about the challenges that older adults are facing, not just today’s older adults, but the older adults of the future, Goodwin Living is helping to ensure a strong talent pipeline to care for older adults not only now but in the future. That’s one more way that Goodwin Living and the Goodwin Living Foundation are addressing a significant societal need.”
Employees in clinical roles with at least two years of tenure at Goodwin Living are now eligible to apply for up to $5,250 annually toward repayment of their student loans. Clinical team members with tenure of six months to two years are eligible for up to $2,625 annually in student loan repayment grants. There are no lifetime caps to the grant awards.
In this initial launch phase of the program, clinical positions are eligible for student loan repayment grants. Goodwin Living intends to expand the program in the future to other positions in the organization.
Current positions eligible for loan repayment grants include:
“I’ve never heard of an organization helping its team members with student loan repayment,” said Ameera Bhanji, a Licensed Master Social Worker with Goodwin Living. “My initial reaction upon hearing about this student loan repayment program was disbelief. Once it sunk in, I felt relief in knowing that the financial burden I carry for my education was going to get a lot lighter, and I believe this will inspire more students to pursue these clinical fields.” Click here to open our fact sheet. Imagery, infographics and a video news release are available below.
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About Goodwin Living™ (goodwinliving.org): Goodwin Living™ touches the lives of thousands of people every day through its range of senior living communities, specialized healthcare services, community partnerships and philanthropic endeavors. With a mission to support, honor and uplift the lives of others (specifically older adults and those who care for them), Goodwin Living leads the way in expanding the places and ways we can all thrive and find purpose as we age. Older adults will discover options that meet them where they want to be, and those options are managed and provided by team members who represent more than 65 countries. Goodwin Living has been a Washington Post Top Workplace for five consecutive years and was named the #1 Top Workplace for 2023.
Get more information at GoodwinLiving.org or by following Goodwin Living on Facebook, Instagram and LinkedIn.
About the Goodwin Living Foundation: Established in 1989 as a 501(c)(3) organization, the Goodwin Living Foundation supports a wide range of programs that enhance the lives of residents, team members, hospice patients and their families. Through the power of philanthropy, the Goodwin Living Foundation seeks and celebrates generosity to carry out the mission of Goodwin Living, to provide financial security to residents, to enable staff to thrive in their careers, and to support innovation, thus enhancing the lives of older adults and those who care for them.
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