Blog.
Parents Are Sacrificing Retirement to Send Their Kids to College
A new report released by Guardian entitled, "College Debt in America: The Case for Tuition & Loan Repayment Benefits," found that 7 out of 10 parents plan to use a part of their retirement savings/investments to pay for their children's college education. Last...
African American Borrowers Struggle More with Repayment than Others
Apart from what we already reported on default rates, data going back to 2003 released by the U.S. Department of Education reveals that Black or African American borrowers owed more on their federal student loans in 2015 than they did when they initially borrowed....
All Types of People Default on Student Loans
Default happens when a borrower fails to repay his or her student loans according to the promissory note. For federal student loans, default occurs after 270 days without a payment. That's 9 consecutive months of skipping payments. Federal Student Loan Default Rates...
Companies Are Not Responsible for Repaying Employee Debt
There is More Consumer Debt Than Ever Before According to data from the Federal Reserve, non-mortgage related debt (credit card, auto loans, student loans, etc.) is growing at a rate of more than 7% annually to nearly $4 trillion. Americans are spending 10 percent of...
Is it Worth Retaining Your Employees?
Retaining your employees can be difficult. According to the Bureau of Labor Statistics, 38 million workers voluntarily quit their jobs in 2017. The number of quitting employees has increased each year since 2010. The impact on employers can be devastating, costing...
New Repayment Program Available for Health Care Workers
Health care professionals who treat drug addiction in shortage areas or in counties where the drug overdose rate is above average may qualify for repayment assistance from the Federal government. The Department of Health and Human Services (HHS) and is overseeing the...
What a Student Loan Benefit Isn’t
Every employee is in a different financial situation. Lower income employees can be financially stable, while top income-earners can be crippled with debt. Offering financial wellness benefits must relate to all types of employees, no matter their financial situation....
Most People Will Never Save Enough Money for College
Parents of a newborn who are curious about saving for your child's college education should consider the following: let's say the annual current cost of college is $25,000, college costs have an inflation rate of 4%, a college investment account returns 6%, and your...
CBO Recommends Ending Subsidized Loans, Loan Forgiveness
A recent report, Options for Reducing the Deficit: 2019 to 2028, released by the Congressional Budget Office (CBO) recommends cuts to the federal student loan program in order to balance the federal budget. The CBO's recommended options below could potentially take...
2018 Year in Review
As we look to the new year for more opportunities to expand our student loan benefit program, we must review our successes and failures of 2018 to adequately set predictions for the upcoming path around the Sun. As a company, IonTuition expanded staff over the year to...