Blog.
8 Reasons Employees Default on Their Student Loans
Even full-time employees default on their student loan payments. It's expected that 2 out of 5 student loan borrowers will be under default in the next five years. According to a recent report by Brookings, income alone cannot predict who will default on their student...
Will Student Debt Cause an Economic Recession?
History of Economic Recessions The economic recessions of the 20th century are attributed to wars, oil/energy, and inflation. It has been about a decade since the last recession, and, historically, the time between recessions are less than 10 years. Many financial...
Employees Need Help with Student Loan Servicers
What is a Student Loan Servicer? If you hold federal student loans, you borrowed money from the U.S. Department of Education (ED) via their Federal Student Aid program. To handle the repayment of those loans, ED uses student loan servicers. Currently, there are 9...
Retirement Benefit Linked to Student Loans
Millennials Struggle to Save for Retirement In our recent financial survey, we found that 48% of respondents under the age of 40 have less than $5,000 saved for retirement, and 19% have no savings at all. At their current rate, they are unlikely to be able to retire...
Webinar on Student Loan Assistance
Employers are more aware of workers facing financial stress over their student loan repayment. Traditional voluntary benefits intended to help employees manage their finances, such as 401(k) plans, are becoming less effective. Workers across the country are asking for...
How Student Loan Contributions Work
Employees Need Student Loan Contributions Deciding to offer a student loan contributions is one of the best ways to help your employees improve their financial wellness. Student loan debt can often seem overwhelming, especially for recent college graduates facing 10...
Misled Borrowers May Be Eligible for Federal Loan Forgiveness
A New Forgiveness Rule Recently Went into Effect Borrowers who attended certain for-profit schools and felt they were misled through fraudulent lending practices can apply for federal student loan forgiveness based on "borrower defense (to repayment)," which went into...
Financial Stress Causing Lost Productivity
Study Finds Addressing Employee Financial Stress Yields Improved Productivity in the Workplace In the workplace, Millennials are frequently distracted by personal finances, according to a recent survey. We chronicled employees’ perspectives on financial stress in the...
Avoid this Overpayment Mistake
This week's blog post was written with permission about one of our Family Access users. Remember, IonTuition users can grant free accounts to family members. Anne is a Typical Student Loan Borrower Anne is an elementary school teacher with over $10,000 in federal and...
Peer-to-Peer Lending Becoming Form of Financial Aid
College tuition has increased 163% since 1988. More American parents are saving for college than ever before. Yet, if tuition costs continue to rise at their current rate, most families will only have enough savings to cover 29% of college costs by freshman year. On...