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Avient Employees Should be Aware that the Student Loan Payment Pause was Extended Through January 2022

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How Avient employees can navigate federal student loan repayment: This article provides a framework for Avient employees to understand the current federal student loan landscape and make the most of available repayment options and employer benefits, suggests Tyson Mavar, a representative from The Retirement Group, a division of Wealth Enhancement Group.

Wesley Boudreaux of The Retirement Group, a division of Wealth Enhancement Group, advises Avient employees with federal student loans to take stock of their current repayment plan and explore the updated options available now that the pandemic-era payment pause has ended.

In this article, we will cover:

The end of the federal student loan payment pause: A summary of the pandemic-era moratorium and what happened when repayment resumed.

The effects on Avient employees: How the current repayment environment affects both personal and Parent PLUS Loans.

New employer benefits and available programs: What Avient employees can take advantage of under current law.

Background: The student loan payment pause has ended.

Federal student loan repayment resumed on September 1, 2023, after more than three years of pandemic-era relief. The COVID-19 payment pause, which began in March 2020 under the CARES Act, was extended multiple times. After the U.S. Supreme Court's June 2023 ruling blocked broad student loan cancellation, the final pause ended and repayment restarted. The Department of Education implemented a one-year on-ramp period through October 2024, during which missed payments did not trigger credit reporting -- but interest continued to accrue. As of late 2024, standard monthly repayment is fully in effect for all Avient employees with federal student loans.

Avient employees nearing retirement should be aware that Parent PLUS Loans -- federal loans that parents can take out to help pay for their children's education -- resumed repayment along with all other federal loans in 2023. Income-driven repayment (IDR) options remain available for eligible borrowers. Avient employees should note, however, that the Saving on a Valuable Education (SAVE) plan -- introduced in 2023 as the most generous IDR option -- was blocked by federal courts in 2024 and is currently in administrative forbearance while legal challenges are resolved. Time spent in SAVE forbearance does not count toward Public Service Loan Forgiveness (PSLF), and borrowers cannot make qualifying PSLF payments while in the plan. Two other IDR plans -- Income-Contingent Repayment (ICR) and Pay As You Earn (PAYE) -- are being phased out and will end in mid-2028. The standard 10-year repayment plan and Income-Based Repayment (IBR) remain fully available.

Does interest accrue during current forbearance periods?

Yes. Unlike the pandemic-era pause, the SAVE administrative forbearance does accrue interest. Avient employees enrolled in SAVE who are in administrative forbearance may wish to consider voluntary payments to prevent interest buildup.

Do private student loans qualify for income-driven repayment?

No. Avient employees should remember that private student loans are not eligible for federal IDR plans, PSLF, or federal forbearance protections. Only federal government-held loans -- including Federal Direct Loans, Federal Perkins Loans, and FFEL Program loans held by the Department of Education -- are eligible.

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Avient employees whose employer offers student loan repayment assistance should be aware of a significant development: the One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, permanently extended the employer benefit allowing companies to contribute up to $5,250 per year toward an employee's student loan repayment on a tax-free basis. This benefit was originally a temporary CARES Act provision. Avient employees are encouraged to check with their HR department to determine whether this benefit is available and to contact their loan servicer to review their current repayment plan status.

Sources:

U.S. Department of Education. 'Federal Student Loan Payment Restart.' StudentAid.gov, 2023, studentaid.gov/announcements-events/covid-19 .
U.S. Department of Education. 'Repayment Plans.' StudentAid.gov, 2025, studentaid.gov/manage-loans/repayment/plans .
NPR. 'Federal student loans are changing. Here’s what to expect in 2026.' NPR, December 2025, www.npr.org .
U.S. Congress. One Big Beautiful Bill Act. Signed July 2025.
Federal Reserve Bank of New York. 'Household Debt and Credit Report.' Federal Reserve Bank of New York, Q4 2025, www.newyorkfed.org/microeconomics/hhdc .

What is the purpose of Avient's 401(k) Savings Plan?

The purpose of Avient's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary into a tax-advantaged account.

How can employees enroll in Avient's 401(k) Savings Plan?

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

What types of contributions can employees make to Avient's 401(k) Savings Plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and in some cases, catch-up contributions if they are age 50 or older in Avient's 401(k) Savings Plan.

Does Avient offer a company match on 401(k) contributions?

Yes, Avient offers a company match on employee contributions to the 401(k) Savings Plan, which helps to enhance overall retirement savings.

What is the vesting schedule for Avient's 401(k) company match?

The vesting schedule for Avient's 401(k) company match typically follows a graded schedule, meaning employees earn ownership of the company match over a period of time.

Can employees take loans against their 401(k) accounts at Avient?

Yes, Avient allows employees to take loans against their 401(k) accounts, subject to certain limits and repayment terms as outlined in the plan documents.

What investment options are available in Avient's 401(k) Savings Plan?

Avient's 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 often can employees change their contribution amounts to Avient's 401(k) Savings Plan?

Employees can change their contribution amounts to Avient's 401(k) Savings Plan at any time, typically through the online portal or by contacting HR.

What happens to an employee's 401(k) account if they leave Avient?

If an employee leaves Avient, they can choose to leave their funds in the plan, roll them over to another qualified retirement account, or cash out, subject to taxes and penalties.

Are there any fees associated with Avient's 401(k) Savings Plan?

Yes, there may be administrative fees and investment-related fees associated with Avient's 401(k) Savings Plan, which are disclosed in the plan documents.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Avient has announced a significant restructuring effort, which includes layoffs across multiple departments. This move is part of a broader strategy to streamline operations and improve financial performance. The company is also modifying its pension plans and benefits to align with its new organizational structure.