The Latest Job Benefit: Paying Employees’ Student Loans

When Brendon McQueen graduated from Columbia University in 2009, he had 12 different student loans totaling $120,000. On the one hand, it is absolutely true that admission essay writers the lp has enjoyed a spectacular and unpredicted rebirth over the last several years. His convoluted repayment plan had him contributing $900 a month. Too large a sum for someone with a new baby and a job working as a production assistant for Adam Sandler while moonlighting as a screenwriter, he was forced to defer loan payments. “I was stuck in this cycle of long-term forbearance,” says McQueen, which means interest was mounting the longer his debt went unpaid. “I had this huge problem and wanted to figure out a way to solve it for myself and help everyone else who has loans. ”

Launched in January of 2013 Tuition. IO was McQueen’s attempt to do just that. The company originally started as a platform for students to organize and optimize their student debt. In the more than two years the Santa Monica, Calif. , Tuition. IO has been in operation, McQueen says, it’s helped users manage over $2 billion in loans, decrease their monthly payments by an average of 4-8% and reduce their delinquent loans by 20%.

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