Horace Mann Takes Teacher Appreciation to a New Level
September 01 2020 - 8:00AM
Business Wire
Expands Teacher Appreciation Program to provide
sponsored access to Student Loan Solutions accounts for all
educators
Horace Mann Educators Corporation (NYSE:HMN) today announced it
is giving all public school educators and school districts
nationwide access to its Student Loan Solutions suite of student
loan management resources, which includes guidance on how to
successfully qualify for federal student loan forgiveness available
to educators. These Student Loan Solutions accounts, powered by
Tuition.io, are traditionally only offered through large private
sector employers as an employee benefit.
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Horace Mann assists teachers impacted by
the COVID-19 pandemic (Graphic: Business Wire)
"What we're asking of teachers during the COVID-19 pandemic is
monumental," said Marita Zuraitis, Horace Mann President and CEO.
"In addition to the personal challenges we are all facing, teachers
are balancing the needs of students and their families, their own
health concerns, and adjusting their teaching to be as effective as
possible in physically distant or remote learning environments.
Providing more resources to help educators achieve lifelong
financial success is one way we can show our appreciation for the
amazing work they are doing.
“Our communities are stronger when good educators stay in the
profession,” Zuraitis said. “The new challenges facing educators
today could very well accelerate the trend of teachers switching
careers for a higher-paying job or retiring early. Horace Mann can
help educators address the financial issues educators face, and
hopefully help school districts keep more good teachers
teaching.”
It seems highly likely that COVID-19 will exacerbate the
pressures on teachers, and the teacher shortage. Almost 30% of
educators said the pandemic has made them more likely to retire
early or leave the profession, according to an NEA study. And more
than a third of educators are enjoying their work in education less
than a year ago, according to a Horace Mann study.1
Managing the burden of student loan debt remains one of
educators’ major financial concerns, with 60% having outstanding
student loans.2 An overwhelming majority - 88% -- said having their
student loans forgiven would make them more likely to stay in
education. 70% said a lower monthly payment would make them more
likely to stay, according to the Horace Mann study.
Although federal programs in place are specifically designed to
provide student loan relief to educators, the process can be
convoluted and confusing to manage alone. For example, 98% of
educator applications for federal Public Service Loan Forgiveness
have been rejected -- but four out of five of those rejections
could have been prevented with better awareness and planning. These
include issues like missing information and not enough qualifying
payments.
“Educators don't have time to untangle confusing federal loan
forgiveness programs by themselves -- nor should they have to,"
said Erin Clark, Vice President of Brand and Horace Mann's Student
Loan Solutions program. "Our Student Loan Solutions program has
helped our educator customers identify over $250 million in
forgiveness opportunities and qualify for lower monthly payments.
Our new solution lets us bring our successful approach to every
educator and public school nationwide as a thank you for everything
they do."
The complimentary accounts are just the latest addition to
Horace Mann's Teacher Appreciation Program, which launched in the
spring and includes remote teaching resources, classroom funding
through DonorsChoose, and customer payment flexibility during
COVID-19.
Horace Mann's Student Loan Solutions program is an easy-to-use
suite of resources to help educators manage student loan debt and
get guidance on federal loan forgiveness programs. Account holders
can track their student loans, both federal and privately held, in
one place through direct links to loan servicers and receive
assistance with the process of qualifying for loan forgiveness
opportunities. Student Loan Solutions accounts are available for
all the nation's educators and public schools through the 2020-2021
school year. Teachers, administrators, school staff, and recent
college graduates pursuing a career in teaching can sign up
directly for the Student Loan Solutions program at
horacemann.com/student-loan-debt-help.
(1) The Student Loan Debt Effect: Good Teachers are Leaving
Education, Insights from the Horace Mann Educators Student Loan
Debt Study
(2) The Educator’s ‘GI Bill’: How Administrators Can Attract and
Retain Teachers Through Student Loan Forgiveness Support
About Horace Mann
Horace Mann Educators Corporation (NYSE: HMN) is the largest
financial services company focused on providing America’s educators
and school employees with insurance and retirement solutions.
Founded by Educators for Educators® in 1945, the company is
headquartered in Springfield, Illinois. For more information, visit
horacemann.com, or follow us @Horace Mann on Twitter and LinkedIn,
and @HoraceMannInsurance on Facebook.
About Tuition.io
Tuition.io is the nation’s leading employee benefit platform
empowering employers to better attract, retain and engage their
next generation of talent - people who are saddled with stifling
student debt - by helping their employees reduce and better manage
their student loan burdens. Tuition.io works with companies of all
sizes. Its clients include Fortune 500 companies, such as ADP, Live
Nation, Freddie Mac, and Estée Lauder Companies; healthcare
companies, such as Children’s Hospital & Medical Center of
Omaha, Trilogy Health Services and UC Health; and 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 the
company at @Tuitionio.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200901005696/en/
At Horace Mann Media contact: Michelle Eccles
Public Relations Manager 217-788-5394
michelle.eccles@horacemann.com
Investor contact: Heather J. Wietzel Vice President,
Investor Relations 217-788-5144
investorrelations@horacemann.com
At Tuition.io Media contact: Kendra Gauntlett
Director, Partner Success 941-586-9455 kgauntlett@tuition.io
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