New Survey Shows Students Want Employers to Help Manage Student Loans

Staff Report From Georgia CEO

Friday, September 4th, 2015

Iontuition, Inc., a member of the Ceannate companies that helps students and families take control of their education finances, today announced the results of a new survey that confirms many student loan borrowers in the U.S. would prefer to work for a company that offers student loan management help as part of their benefits package.

In July 2015, iontuition™ surveyed 1,000 individuals with student loans to find what they want to see from their employers. The answer was clear: student loan borrowers want help with their debt. With record amounts of student debt attached to the incoming workforce, the majority of those surveyed viewed employee benefits that address education loans as a breakthrough and welcomed solution.

Selected survey results:

  • A Match Made in Heaven: Today, more than 40 million Americans have student loan debt. It comes as no surprise that the majority of those people might appreciate help from their employer when it comes to managing their student loans. Nearly 80 percent of the individuals surveyed with student loan debt, which could equate to more than 30 million Americans, said they would like to work for a company that offers repayment assistance with a matching opportunity.

  • An Apple a Day: Fifty-five percent of survey respondents, which could equate to more than 22 million individuals with student loans, said they would rather the amount they are paying for health care go toward their student loan balance. Of that group, Ninety-four percent said that the benefits plan at their current job includes health care.

  • A Future Without Debt: Forty-nine percent of respondents, which could equate to 19 million student loan holders, said they would prefer student loan payment contributions over a 401K at this point in time. Of that group, only twenty-eight percent have a 401K.

"Employers who rely on a college-educated workforce cannot ignore numbers like these," said Balaji "Raj" Rajan, CEO of Ceannate Corp. "Our survey shows that a majority of borrowers would greatly value an employee benefits package tailored to reducing and managing their student debt."

The iontuition.com portal provides employers with an elective benefit for their employees – so they can establish optimal student loan repayment strategies and monitor their 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.com users can call a toll free number, email or chat online with trained student loan counselors for more complex resolutions.