Savi for Student Loans

(pronounced “savvy”)

Get Started with Savi

Get on track for loan forgiveness and turn payments into retirement savings with the help of TIAA and Savi!

Employees of not-for-profit institutions like Augsburg are eligible for federal loan debt relief and repayment programs through the federal government’s Public Service Loan Forgiveness (PSLF) programs. However, the enrollment process can be complicated.

Savi is offered to Augsburg employees and their immediate family members as a tool to explore the various PSLF options and navigate enrollment.

The student loan experts at Savi host 60-minute live webinars twice a month. You will learn about the latest policy, how the PSLF program works, and how to get started with Savi. You’ll also get answers to your questions from one of Savi’s student loan experts. Register for an upcoming session.

Savi: Free Tools

  • brandComplete a free assessment to see whether you qualify for an income-based repayment plan and a forgiveness program
  • Continue the application and filing process on your own OR enroll in Savi Essential

Savi Essential – $70 annually

  • Helps borrowers avoid pitfalls and stay in compliance with PSLF rules for the duration.
  • No paper forms to complete
  • Personalized guidance from Savi’s expert support team
  • Savi administers the program’s requirements: annual enrollment in the IDR, employer certifications, and e-filing
  • Essential users experience a < 1% rejection rate on PSLF application
  • Essential users may see more efficient processing of PSLF application due to elimination of errors and streamlined, digitized forms

Public Service Loan Forgiveness Benefits

  • Decrease monthly payments through an income-driven repayment plan
  •  Be eligible for tax-free forgiveness after 120 payments
  • Experience reduced stress and anxiety
  • Be able to put monthly savings toward other financial goals, e.g., emergency fund, retirement
    savings, credit card debt reduction, home down payment
  • Decrease monthly payments through an income-driven repayment plan

Federal Student Aid: Public Service Loan Forgiveness

FAQ

  • Can I apply for PSLF without Savi?
    • Yes! You can still apply for PSLF without Savi. Send electronic certification requests to hr@augsburg.edu
  • Why would I want to pay for Savi Essential?
    • Savi simplifies the enrollment process and can help you compare forgiveness options and payment plans. Historically, less than 3% of PSLF applicants have successfully crossed the finish line unassisted. Savi’s Essential plan can help ensure you get the debt relief you deserve.
  • Does Savi Essential auto-renew?
    • No. Savi will remind you to re-enroll annually for PSLF programs, and you can purchase Savi Essential for another year.
  • Do I need to decide now to sign up for the Savi fee-based service?
    • No. Once you’re a registered user on Savi’s website, you can try out the free tool first, and
      decide later if you’d like to take advantage of the optional administrative services available in the
      Savi Essential. Each year you will be asked if you want to continue with the service and pay the
      annual fee or not.

Additional FAQ