As the student loan crisis continues to impact multiple generations of workers, companies are quickly realizing that student loan repayment assistance is not only a powerful tool to improve recruitment, engagement, and retention, but is also a meaningful benefit that gives back years of financial freedom to employees. Since January, Tuition.io has seen more than a hundred percent increase in the number of student loans being managed on its platform.
“We’re seeing the immediate impact of student loan debt on young professionals – from delaying home purchases to starting a family and saving for retirement – and this doesn’t even cover the long-term consequences,” said Scott Thompson, CEO of Tuition.io. “The time for companies to address this issue is now. With the addition of Bob and Mark we have the best team in place to help employers across all industries implement this benefit. It’s no longer going to be a question of why you should offer this benefit but how could you not?”
Prior to Tuition.io, Wall was most known for his role as founder and CTO of on-demand laundry startup – Washio. During his tenure, Wall grew the company from four to 90 employees and expanded operations from one city into six markets, achieving an impressive 300 percent increase in revenue year after year. In 2016, Washio’s tech team was acquired by Alliance Laundry Systems, where Wall led the development of the company’s next-gen laundry management system that was built and launched internationally in less than a year.
“It’s an exhilarating time to join a team that’s leading the charge in making student loan repayment assistance a national, and even international, employee benefit standard,” added Wall. “Tuition.io’s platform is already processing billions of dollars in loan payments and with the expanding client base, I’m looking forward to further scaling the platform and introducing exciting new products and features that will continue to make this benefit an irresistible offering for any company.”
Irvine joins Tuition.io from Enlighted, an IoT solutions company that delivers the leading technology platform for smart buildings, and was previously at Mojix, an RFID technology and IoT platform solutions company, where he led as senior vice president of global sales. As CRO at Tuition.io, he will focus on scaling the business and refining the go-to-market strategy to connect Tuition.io’s targeted customers in a cross–functional revenue generating process that leverages the sales teams to continuously provide customers the best product experience for their employees.
Fresh off the heels of a Series B round, Tuition.io continues to expand its roster of clients, which now includes Live Nation, Staples, Fidelity Investments and the recently announced City of Memphis – the first city in the country to offer a student debt reduction program for city employees.
Tuition.io is the nation’s leading employee benefit platform empowering employers to better attract, retain and engage their next generation of talent who are saddled with stifling student debt, by helping their employees reduce and better manage their student loan burden. Tuition.io works with companies of all sizes, from Fortune 500 companies such as Live Nation, Fidelity Investments and Staples, to startups including ChowNow and Chegg, as well as public entities such as the City of Memphis. Tuition.io is on a mission to provide an impactful solution for employers and employees across the country. For more information, visit www.tuition.io.
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