Healthcare Provider Update: Provides medical, dental, and vision insurance, wellness programs, and retirement planning resources 6. With ACA subsidies set to expire, Crocs holistic benefits approach helps employees maintain affordability and access to care. Click here to learn more
Most Crocs employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.
Granted value
Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.
Know your grants
The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all Crocs employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:
- Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
- Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
- Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
- Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.
FAFSA Required
Featured Video
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a Crocs employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the 401(k) plan offered by Crocs?
The 401(k) plan at Crocs is a retirement savings plan that allows employees to save for their future with pre-tax contributions.
How can I enroll in the Crocs 401(k) plan?
Employees can enroll in the Crocs 401(k) plan by accessing the company’s benefits portal and following the enrollment instructions provided.
Does Crocs match employee contributions to the 401(k) plan?
Yes, Crocs offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the vesting schedule for Crocs' 401(k) matching contributions?
The vesting schedule for Crocs' matching contributions typically follows a standard timeline, which employees can review in the benefits documentation.
Can I change my contribution percentage to the Crocs 401(k) plan?
Yes, employees at Crocs can change their contribution percentage at any time through the benefits portal.
What investment options are available in the Crocs 401(k) plan?
The Crocs 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Is there a minimum contribution requirement for the Crocs 401(k) plan?
Yes, Crocs may have a minimum contribution requirement, which employees should check in the plan details.
Can I take a loan from my Crocs 401(k) plan?
Yes, Crocs allows employees to take loans from their 401(k) accounts under certain conditions as outlined in the plan documents.
What happens to my Crocs 401(k) if I leave the company?
If you leave Crocs, you will have options regarding your 401(k) account, including rolling it over to another retirement account or cashing it out.
How often can I review my Crocs 401(k) account statements?
Crocs provides regular account statements, typically quarterly, allowing employees to review their 401(k) account performance.
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)