Have you ever heard about the site Tuition.io and what it does? If your answer is “No” let us tell you a little bit about this big company and what it's doing.
Tuition.io is an American company that enables other companies to provide employer-paid student loan contributions as an employee benefit. The company is headquartered in Santa Monica, California. Tuition.io was founded by Brendon McQueen (Founder/CEO) and Steve Pomerantz (Co-Founder/President) in 2012. An alum of the Launchpad LA startup accelerator, the company launched into public beta in January 2013. After graduating from Colombia University with 12 loans totaling $120,000 McQueen launched a consumer-facing version of the platform at FinovateFall 2012. Now you may wonder what's the big fuss about! The employer-funded student loan contribution platform reached a milestone this week. The California-based company announced today that they actually have saved employees more than 5,000 years of student loan payments totaling more than $2 billion. Sounds pretty great, right? Well of course it does especially if you are an american citizen. Brendon McQueen, Tuition.io CEO and co-founder says, “We’re on track to save consumers tens of thousands of years of payments next year.” In 20015 Tuition.io raised $8.2 million in funding. Last year the company transitioned to exclusively serve the enterprise because in that way they would be able to impact many more lives, something that is something McQueen stated as well. And only in the last month the company expanded its focus to include support for Federal Parent PLUS loans, loans taken out by parents to help finance their child’s college education. One is for sure, we expect even more great things from this company.