We’re happy to be named as one of the winners in the prestigious One Planet Awards in the Most Innovative Product of the Year category for IonPay, our employer student loan repayment contribution service.
IonPay allows companies to modernize their benefits package by validating and helping pay down employee student loan debt.
IonPay enables employers to:
- contribute directly to employee student loan repayment
- build a program tailored to the needs and budget of the company
- set annual and lifetime benefits amounts
- make a flat annual contribution or match employee payments similar to a 401(k)
- send automatic notifications whenever contributions are made
- show lifetime contributions, total savings, and shortened repayment time for each employee
- manage employee accounts through a secure administrative portal
44 million Americans are estimated to be carrying $1.4 trillion in student loan debt. Workers of all ages are seeking companies that offer to pay down their student loans. A recent IonTuition survey found that over half of those with student debt would prefer monthly contributions towards their loan debt rather than traditional benefits like healthcare or a 401(k) plan.
The future of employee benefits will change as more innovative benefit options emerge, and employers embrace a multi-generational approach to recruitment and retention. 90% of managers reported student loan debt as a source of employee stress. More employers than ever are seeking out student loan repayment benefits to recruit and retain high-caliber talent, and improve productivity.
About the One Planet Awards
One Planet Awards recognizes companies for their business and professional excellence. The One Planet Awards honors are currently conferred in category sections which include outstanding individuals, executives, teams, new products and services, PR, Marketing, and Corporate Communications, and organizations from all over the world. Learn more about the One Planet Awards at www.oneplanetawards.com and participate.