New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Owens Corning Employees: Unlock the Benefits of the Federal Student Grant Program for Your Family's Education

Healthcare Provider Update: For Owens Corning, the healthcare provider managing employee benefits is largely influenced by market dynamics and company-specific strategies. As reported, Owens Corning employees may face significant healthcare cost increases in 2026 due to a combination of factors. The anticipated sharp rise in Affordable Care Act (ACA) premiums-potentially exceeding 60% in some states-will likely lead the company to adjust its benefit structures, including higher deductibles and out-of-pocket maximums. With many large firms adopting similar approaches to manage rising healthcare expenses, Owens Corning employees should be proactive in understanding upcoming benefit changes and optimizing their plan selections to mitigate the impact of rising costs. Overall, 2026 could see employees bearing a larger share of healthcare expenses, reflecting broader trends in the insurance marketplace. Click here to learn more

Most Owens Corning 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 Owens Corning 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

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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 Owens Corning employee could secure may surprise you.

Finder.com, 2019

StudentAid.gov, 2020

What is the Owens Corning 401(k) Savings Plan?

The Owens Corning 401(k) Savings Plan is a retirement savings plan that allows employees to save for retirement through pre-tax and/or after-tax contributions.

How can I enroll in the Owens Corning 401(k) Savings Plan?

Employees can enroll in the Owens Corning 401(k) Savings Plan by accessing the enrollment portal through the company’s HR website or by contacting the HR department for assistance.

What are the contribution limits for the Owens Corning 401(k) Savings Plan?

The contribution limits for the Owens Corning 401(k) Savings Plan are set by the IRS and may change annually. Employees should check the latest IRS guidelines or consult the Owens Corning benefits team for current limits.

Does Owens Corning offer a company match for the 401(k) Savings Plan?

Yes, Owens Corning offers a company match for employee contributions to the 401(k) Savings Plan, which helps employees maximize their retirement savings.

When can I start contributing to the Owens Corning 401(k) Savings Plan?

Employees can start contributing to the Owens Corning 401(k) Savings Plan as soon as they are eligible, typically after completing a specified period of employment.

How often can I change my contributions to the Owens Corning 401(k) Savings Plan?

Employees can change their contribution amounts to the Owens Corning 401(k) Savings Plan at any time, subject to the plan's guidelines.

What investment options are available in the Owens Corning 401(k) Savings Plan?

The Owens Corning 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Can I take a loan from my Owens Corning 401(k) Savings Plan?

Yes, Owens Corning allows employees to take loans from their 401(k) Savings Plan, subject to specific terms and conditions outlined in the plan documents.

What happens to my Owens Corning 401(k) Savings Plan if I leave the company?

If you leave Owens Corning, you have several options for your 401(k) Savings Plan, including rolling it over to an IRA or a new employer's plan, cashing it out, or leaving it in the Owens Corning plan if eligible.

Is there a vesting schedule for the Owens Corning 401(k) Savings Plan?

Yes, Owens Corning has a vesting schedule for company match contributions, meaning employees must work for a certain period to fully own those contributions.