Centennial, Colo. — May 1, 2018 — AlloSource, an organization dedicated to advancing the science and use of transplantable allogeneic cells and tissue, today announced the rollout of its student loan repayment assistance program, a new employee benefit to help workers pay off their student loans faster. The company is partnering with Tuition.io, the leading platform for employee student loan contributions, to administer the program.
As part of the benefit, AlloSource employees will receive monthly contributions to help pay down the principal of their student loans. According to Willis Towers Watson, only 4% of companies in the United States offer a student loan repayment assistance benefit. In conjunction with their benefit, AlloSource is encouraging employees to apply for Public Service Loan Forgiveness.
“This benefit enhances our robust Wellness Program, which encompasses a holistic approach to physical, emotional, and financial health and well-being,” said Shelley Zelin, AlloSource Chief Human Resources Officer. “Student loan debt can be a large source of stress, so we wanted to help alleviate some of that burden for our employees.”
Americans have nearly $1.5 trillion in student loan debt and research has shown the pressure of student debt is causing today’s workforce to delay marriage and home purchases, start a family and more.
“AlloSource’s mission is saving and improving people’s lives. We are honored to work with AlloSource to help improve the lives of their valued employees by reducing the burden of their student loans,” said Scott Thompson, CEO of Tuition.io.
The program is now available to full-time employees who have been with the company for at least a year. AlloSource is using Tuition.io’s technology to coordinate payments directly to the employees’ student loan service providers.
AlloSource is dedicated to advancing the science and use of transplantable allogeneic cells and tissue through pioneering research in regenerative therapies. The organization offers life-saving and life-enhancing solutions in orthopedic, spine, burn and wound procedures to help restore patient health and mobility. As a world leader in cell-based products, fresh cartilage tissue for joint repair and skin allografts to help heal severe burns, AlloSource’s products bridge the proven science of allografts with the advanced technology of cells. The company is accredited by the American Association of Tissue Banks and is headquartered in Centennial, CO. For more information, please visit allosource.org.
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, Staples and Estée Lauder Companies, 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 or follow us at @Tuitionio.