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New Student Loan Repayment Program from IonTuition

IonTuition offers a payment contribution system similar to 401(k) contribution programs, which gives employers the ability to accelerate their employees' student loan repayment through monetary contributions.

By John Manganaro editors@plansponsor.com | September 19, 2016

IonTuition.com, the self-described “education-fintech company specializing in helping borrowers monitor and manage their student loans,” announced a new student loan benefits package that provides employers with an innovative solution to enable employees to better pay off student loans.

In a recent survey of employers, IonTuition found nearly all saw value in offering their employees benefits such as student loan repayment assistance. In fact, according to the firm, 70% of respondents believe that offering such a program would improve morale and retention, while more than 90% of respondents believed that this benefit would decrease stress among their workforce.

To this end, IonTuition wants to offer employers the option to provide employees with “convenient, automated student loan payments made via payroll deductions, a feature that all respondents agree employees would appreciate.” The IonTuition approach “ensures reliable, on-time, stress-free monthly student loan payments.” Additionally, IonTuition offers a payment contribution system similar to 401(k) contribution programs, which gives employers the ability to accelerate their employees' student loan repayment through monetary contributions.

Through IonTuition, employees have a clearer picture of their student loans, federal and private, all in one place, along with access to repayment planning tools that simplify complex repayment options and make it easy to work out which repayment plan best suits each user's unique situation. Additionally, IonTuition has a team of expert student loan counselors standing by to assist with any questions employees might have. Counselors provide one-on-one help, from talking through the basics of student loans to working hand-in-hand with employees to develop a personalized repayment strategy.

More information is available online here

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