Are you still paying for student loan debt? Introducing a new debt solution for employees of The University of Alabama:
The path to reducing your monthly student loan payment and working toward loan forgiveness could be getting much easier. That’s because you and your family members have access to a robust solution that helps you find the best federal repayment and forgiveness programs for your financial situation.
Through The University of Alabama’s partnership with TIAA, we are pleased to announce Savi, a service that can help you strengthen your financial footing in the short term and position you for student loan forgiveness, including the Public Service Loan Forgiveness Program (PSLF). UA is a qualifying employer for PSLF as a not-for-profit public service organization that’s tax exempt under Section 501(c)(3), and Savi can help eligible employees with student debt take advantage of this money-saving program and more.
With federal student loan payments resuming in October 2023, take action now with Savi to be fully prepared before payments restart! The student loan experts at Savi can help you find the best loan repayment and forgiveness options and navigate through the complex rules and requirements. Savi‘s tool is designed to lower your student loan payments and get on track for student loan forgiveness, so you can focus on other financial goals like saving for retirement.
Visit https://www.tiaa.org/uasystem/student to calculate your savings and get started! You will be directed to Savi’s microsite to register.
Webinar Opportunities
Savi is offering exclusive, 30-minute onboarding webinars to help UA employees and their family members learn how to get on track for student loan forgiveness and get up to speed on any recent policy changes. Register for one today!
UA + Savi Workshop: Wednesday (9/13) @ 11:00 AM: Register Now!
UA + Savi Workshop: Tuesday (9/19) @ 3:00 PM: Register Now!
You may also register for recurring webinars every other Wednesday at 11:00 AM and 1:00 PM: https://www.eventbrite.com/o/savi-tiaa-27739666873
Savi offers two tiers of service, Do It Yourself (DIY) and Essential.
Service Option 1: Do It Yourself (DIY) Service.
FREE to all UA employees! Leverage Savi’s calculator and review repayment options. Manually apply for repayment and forgiveness programs through the Department of Education. Access the custom onboarding sessions referenced above and recurring, bimonthly educational webinars.
Savi DIY will help you:
- Determine if your loan(s) qualify for forgiveness for 150+ state & federal programs,
- Identify the best repayment method to help reduce your payment based on income & family size,
- Estimate how much money will be forgiven and when, and
- Consolidate your loan(s), if needed, to conform with the PSLF Limited Waiver requirements
Service Option 2: Savi Essential Service.
Savi offers an enhanced service, called Savi Essential, which can help you navigate the complex rules and procedures of the PSLF program, making it easier to stay on track for loan forgiveness. With an annual fee of just $60, the experts at Savi will support you with various PSLF tasks, handle paperwork on your behalf and remind you when it’s time to recertify for the next year for your annual fee.
Total Annual Application Cost: $60/calendar year
Benefits: All the benefits from Option 1, plus fully digitized forgiveness and savings plan forms, including employment certification and e-filing, as well as one-on-one personalized support from loan experts to help manage your student loans.
In addition to the Savi DIY benefits, Savi Essential will help you:
- Digitally generate & prefill any required forms, help complete them, validate and submit them,
- Track applications and forms after submission,
- Provide ongoing application monitoring and filing reminders to ensure you achieve forgiveness,
- Track accrual of PSLF credits to prevent surprises at the end of the repayment period, and
- Get enrollment reminders & updates on new programs or policy changes related to your loans