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Healthcare Provider Update: Offers health insurance covering up to 80% of out-of-pocket costs post-deductible, plus dental, vision, and mental health support 8. With ACA costs rising, Prologiss generous coverage may help employees avoid the financial strain of marketplace plans Click here to learn more
Most Prologis 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 Prologis 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 Prologis employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the Prologis 401(k) Savings Plan?
The Prologis 401(k) Savings Plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out, helping them prepare for retirement.
How can I enroll in the Prologis 401(k) Savings Plan?
You can enroll in the Prologis 401(k) Savings Plan by logging into the employee portal and following the enrollment instructions or by contacting the HR department for assistance.
What is the employer match for the Prologis 401(k) Savings Plan?
Prologis offers a competitive employer match for contributions made to the 401(k) Savings Plan, which can significantly enhance your retirement savings.
At what age can I start contributing to the Prologis 401(k) Savings Plan?
Employees at Prologis can start contributing to the 401(k) Savings Plan as soon as they meet the eligibility requirements, typically upon hire or after a short waiting period.
How much can I contribute to the Prologis 401(k) Savings Plan each year?
The contribution limits for the Prologis 401(k) Savings Plan are set by the IRS and can change annually. Employees should check the current limits to maximize their contributions.
Does Prologis offer a Roth option in its 401(k) Savings Plan?
Yes, Prologis provides the option to contribute to a Roth 401(k) within its 401(k) Savings Plan, allowing employees to make after-tax contributions.
Can I take a loan from my Prologis 401(k) Savings Plan?
Yes, Prologis allows employees to take loans from their 401(k) Savings Plan under certain conditions. Employees should review the plan’s loan policy for details.
What investment options are available in the Prologis 401(k) Savings Plan?
The Prologis 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.
How can I change my contribution percentage for the Prologis 401(k) Savings Plan?
You can change your contribution percentage for the Prologis 401(k) Savings Plan by accessing the employee portal or by contacting the HR department for guidance.
What happens to my Prologis 401(k) Savings Plan if I leave the company?
If you leave Prologis, 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 with Prologis.
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