ROLLING MEADOWS, Ill., Sept. 14, 2016 /PRNewswire/ -- IonTuition.com, the leading education-fintech company specializing in helping borrowers monitor and manage their student loans, today announced a 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 managers, IonTuition found nearly all saw value in offering their employees benefits such as student loan repayment assistance. In fact, 70 percent of respondents believe that offering such a program would improve morale and retention, while more than 90 percent of respondents believed that this benefit would decrease stress among their workforce.
IonTuition offers 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. This 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.
The IonTuition solution provides the tools employees need to manage, pay, and plan around their student loans through a single comprehensive, user-friendly portal.
"By integrating IonTuition into our platform, we have been able improve our employee's financial well-being. IonTuition helps them manage their student loans, teaches them how to optimize repayment, and works with them to find the plan that best suits their needs," said Amy St. Clair, Vice President of People at Rabine Group. "As a company, this lets us lend a helping hand in a way that was never possible before."
Through IonTuition, employees have a clear 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.
"With America's student loan debt crisis climbing to $1.2 trillion, financial wellness and managing debt have become equally critical in our everyday lives," said Balaji "Raj" Rajan, CEO of IonTuition, Inc. "In that sense, an employer's involvement is more important than ever before. With IonTuition employers can not only contribute directly to their employees' student loan debts but can also provide a wide variety of assistance and tools, helping their employees make smart decisions when it comes to their education-related finances."
The IonTuition.com portal provides employers with an elective benefit for their employees, helping them set up student loan payments via payroll deduction, allocate optional employer contributions, establish optimal repayment strategies and monitor their student loans. The company delivers interactive, user-friendly tools that guide current and former college students through the education finance process, customized to fit the evolving goals and life circumstances of each and every user. IonTuition users can call a toll free number, email or chat online with trained student loan counselors for more complex resolutions.
For inquiries, visit iontuition.com/Partnership/Employers or call 888.853.8323.
About IonTuition™ IonTuition provides employers and colleges with a web-based student loan management tool their employees and students can use to better understand, manage and optimize repayment of their student loans. IonTuition displays loans – both federal and private – in a single, user-friendly dashboard. Employees from participating companies can also pay down their loan debt using iontuition.com which processes employer contributions to accelerate repayment. In addition to an ROI-based college selection tool and member discount program, users are connected to expert student loan counselors, financial literacy content and a monitoring service that keeps them aware of critical changes to their loans via email, text, and mobile app alerts. Learn more at IonTuition.com.
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