SPRINGFIELD, Ill. (Sept. 1, 2020) -- 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.
"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 @HoraceMann 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.
Additional press coverage
Educators Face Student Loan Setbacks Due to COVID-19, Amanda Umpierrez, Plan Sponsor, September
3, 2020
Horace Mann on student loan forgiveness, Justin Carter, WICS/WRSP, September 13, 2020
American teachers are facing 'a perfect storm' of crises amid the coronavirus pandemic, Aarthi
Swaminathan and Reggie Wade, Yahoo!Finance, August 1, 2020
Horace Mann study: The student loan debt effect: good teachers are leaving education, Joey
McLaughlin, WTAX-AM/FM, July 17, 2020