SAVI: Public Student Loan Forgiveness Program
The University is pleased to announce that TIAA (the University’s retirement plan provider) partnered with SAVI to offer a new debt-management program that guides employees and their families who work for nonprofit employers to seek federal student loan forgiveness. The Public Service Loan Forgiveness (PSLF) program is a federal program that can forgive student loan debt to qualifying employees of government organizations and nonprofits such as St. Lawrence University.
The PSLF program can be hard to navigate because it is riddled with complex rules, requirements, and document management which prevents people from effectively applying for the program, or once in the program it is hard to reach their goal of student loan forgiveness. It has been estimated that only 2% of those who apply for the PSLF program are accepted!
The path to reducing your monthly student loan payment and working toward loan forgiveness could be getting much easier. That's because you have access to a robust solution that helps find the best federal repayment and forgiveness programs for your financial situation. And yes, the average student debt savings is $1,880 per year.1
Brought to you through TIAA and Savi, this tool not only helps strengthen your financial footing in the short-term, it also positions you for student loan forgiveness.
- Caps your payment based on your income and family size
- Frees up funds to direct towards other financial goals
- Removes the complexities of forgiveness and puts the process on auto-pilot for a small fee2
We're excited to bring this opportunity to our employees and their family members. To see how easy it is to use Savi, how it works to reduce your monthly payment and how to get started─ attend a 30-minute webinar.
Visit TIAA.org/stlawu/student today to calculate your savings.
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