Student Loan Payback Platform Adds PLUS Loan Support

Tuition.io now provides assistance for PLUS loans in addition to private and federal student loans

Student Loan Payback Platform Adds PLUS Loan Support
May 11, 2016

Tuition.io, the first student loan payback platform, has announced that it will now provide support to those who took out federal parent PLUS loans in addition to those with private and federal student loans. The company handles employer student loan contributions and assists employers in finding talented graduates with significant student loan debt. Employers make use of Tuition.io’s account auditing program and the partnerships the company has made to provide student loan payback benefits to employees. This, in turn, makes these employers more desirable to skilled graduates.

When launched, Tuition.io could only assist employers with information on private and federal student loans through their software, which verified that an employee had student loans and that they had correctly reported the balance of those loans. With this update, employers will now be able to make benefit payments on PLUS loans as well.

CEO and Tuition.io Co-founder Brendon McQueen pointed out that this is a large area of student loan debt that often places a major financial burden on the parents of students. That’s because PLUS loans, while used to pay for the student’s tuition, are taken out by the parents and become their responsibility to repay. According to the Wall Street Journal, $10.7 billion dollars in PLUS loans were made during the 2014-2015 academic year, and as tuition continues to increase, that amount will also. By allowing graduates to put their employer contributions towards these loans, they will be able to provide some financial relief to their parents.

Find out quickly at what rate you can refinance your student loan.

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Erin | 05.11.16 @ 13:27
This sounds like a good way for companies to find great talent. It incentivises students to do well as well. This is something I will be keeping in mind for my upcoming college students.
Steffanie | 05.11.16 @ 13:29
This is a great idea and a great way to get some good employees.
Irene | 05.11.16 @ 13:31
Great info I know a few people who struggle to pay back loans
Heather | 05.11.16 @ 13:36
This sounds like a win/win situation for both graduates and employers. Hopefully this will help her more students out of debt sooner.
Jackie | 05.11.16 @ 13:38
I'm going to pass this information on to my great grandaughter. She will be entering college soon.
Carla Truett | 05.11.16 @ 13:40
So happy there is finally some kind of support for these students. Passing this to my son right now
Elaine | 05.11.16 @ 13:49
I feel this is a great idea. Payback is very hard and more options like this will help.
Daniel Dohlstrom | 05.11.16 @ 13:55
Companies getting involved in debt relief for students is a great idea that will benefit both siddes
Carla Truett | 05.11.16 @ 14:00
I hope my Son is lucky enough to get a job that supports this payback option.
$commenter.renderDisplayableName() | 12.10.16 @ 16:39
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