Student Loan Repayment Assistance, Employee Scholarships, and Financial Wellness Tools Now Available to Employees
LOUISVILLE, Ky., November 13, 2019 (Newswire.com) - Trilogy Health Services, the premier senior care provider in the Midwest, today announced that it has partnered with Tuition.io to provide an expanded suite of Education Assistance benefits to help its employees alleviate the heavy burden of student debt and manage the cost of higher education. The benefits include student loan repayment assistance, scholarships for employees and dependents, and access to Tuition.io's student loan financial wellness platform and mobile app.
Currently, over 1,200 employees ranging from nurses and therapists to administrative staff are participating in Trilogy’s student loan repayment program. Trilogy employees collectively hold over $36 million in student loan debt, with each employee owing an average of $31,668. Eligible employees receive monthly contributions of $100 to help pay down the principal of their student loans, with no lifetime maximum. The program is now available to full-time and part-time employees who have been working for at least six months.
Continuing education is often required of highly skilled healthcare professionals like those employed by Trilogy, which owns and operates over 100 senior living communities in the Midwest. More than 70% of nursing school students graduate with student loan debt and helping to ease this financial burden leads to a happier and more highly engaged workforce that, ultimately, improves the level of care for Trilogy’s residents. In addition to student loan repayment, Trilogy provides scholarships to employees and dependents administered through Tuition.io, empowering them to expand their education and achieve greater personal and professional fulfillment.
“Our employees are the most important factor in the experience of our residents and it’s simply the right thing to do to help repay the debt they incurred to become our employees,” said Todd Schmiedeler, Senior Vice President, Foundation & Workforce Development, Trilogy Health Services. “Trilogy was one of the first care providers to pioneer student loan repayment assistance internally. However, working with Tuition.io has proven to be a game-changer. They have provided immediate relief to the heavy administrative burden of our benefits program and were able to double the amount of participants in a short period.”
Trilogy is the first partner to offer Tuition.io’s new comprehensive suite of Education Assistance benefits, which are designed to provide support to anyone in the workforce that is engaged with education, oftentimes a lifelong journey. Through a central administrative platform, Tuition.io makes it easy and efficient for employers to have a complete snapshot of what benefits their employees are taking advantage of along with detailed reporting and program metrics.
Tuition.io’s suite of Education Assistance benefits have expanded to include:
● Student Loan Repayment Assistance - employer-funded student loan contribution programs designed to be fully customizable with a variety of plan options such as 401(k) matching and PTO conversion
● Tuition Assistance - programs that automate the often manual process of scholarship awards, prepaid tuition, and tuition reimbursement
● Education-Focused Financial Wellness - a stand-alone platform with tools and content to guide employees who are either preparing to finance their education or help reduce their student loan debt post-college
“Tuition.io started with a focus on helping employees pay off their student loan debt, but helping these same individuals and their families before the debt is incurred is also a powerful tool for employers,” said Scott Thompson, CEO of Tuition.io. “Trilogy clearly understands the advantage these tools provide their workforce and it has directly impacted their employee retention rates. With the help of Tuition.io, employees are staying nearly 2.5 years longer as a result of receiving student loan repayment assistance.”
About Trilogy Health Services
Trilogy Health Services communities offer a full range of personalized senior living services, from independent and assisted living to skilled nursing and rehabilitative services in over 100 senior living communities throughout Kentucky, Indiana, Ohio and Michigan. Trilogy’s senior living services are delivered by staff specially trained to honor and enhance the lives of our residents through compassion and a commitment to exceeding customer expectations. Trilogy Health Services is a subsidiary of Griffin-American Healthcare REIT III, Inc. To learn more about Trilogy Health Services, please visit our website at www.trilogyhs.com. You may also follow Trilogy Health Services on Facebook and Twitter.
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, Staples and Estée Lauder Companies, to healthcare companies including Children's Hospital & Medical Center of Omaha and Mosaic Life Care, 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.
Source: Trilogy Health Services