Blog.
Updates to IonTuition’s Employer Services
IonTuition, the leader in providing student loan repayment assistance to over 2 million students and employees across the U.S. is making several changes that will impact our stakeholders: Relaunching IonLEARN - Financial Wellness In the coming weeks, ION will...
The Year Student Loan Repayment Never Started
In November, the Education Department’s Under-Secretary, James Kvaal, reported that only 60 percent of the 28 million student loan borrowers who needed to make payments had made them. But this was on 22 million and not the entire 28 million borrowers. About 4 million...
Student Loan Default Predictions
Artificial intelligence has a role in higher education, but it won't help analyze or predict which student loan borrowers will become delinquent or default. AI will not be able to predict actions colleges and universities can take to alleviate the issue. The...
Student Loan Repayment Deserves a Three-Year Grace Period Instead of Six Months
By Balaji Rajan, CEO of IonTuition Since 1990, I have collected and serviced student loans. Helping borrowers with student loan repayment was enjoyable while Federal Student Aid (FSA) established a “reasonable and affordable” payments program. There were landmark...
Shorter Time to Forgiveness for SAVE Plan
The Biden-Harris Administration announced it will grant forgiveness to borrowers on the Saving on a Valuable Education (SAVE) Plan beginning in February. Borrowers who originally took out $12,000 or less for college and make ten years of payments will have their debts...
Student Loan Repayment Problems Continue for Borrowers
The three-year, COVID-era student loan payment pause officially ended in September. The first payments were due in October. Since then, borrowers have faced long hold times to connect to representatives at their federal student loan servicer, payment processing...
Student Loan Borrowers Seeing Long Wait Times and Billing Errors
Student Loan Statements Mailed Out Late October was the first month in three years that federal student loan payments were due. However, millions of student loan borrowers are expected to miss their first payment following delayed mailing of student loan statements....
Gainful Employment Regulations Under Final Review
The U.S. Department of Education’s proposed rules for gainful employment rules and other accountability initiatives are currently awaiting final approval. The OMB’s Office of Information and Regulatory Affairs is expected to approve the request on or before November...
The New SAVE Plan for Student Loan Repayment
The Saving on a Valuable Education (SAVE) Plan replaces the existing Revised Pay As You Earn (REPAYE) Plan. The SAVE plan is an income-driven repayment option. Borrowers earning less than $15 an hour may have loan payments as low as $0 per month. Borrowers...
SCOTUS Decision on Student Debt Relief
SCOTUS Blocks Biden’s One-Time Student Loan Cancellation Program The U.S. Supreme Court has rejected the Biden administration’s proposal to cancel student loan debt. The court ruled today on two cases: Biden v. Nebraska and The Department of Education v. Brown. In a...