Middlebury College employees and their family members have access to a powerful financial wellness benefit to help navigate the complexities of the Public Student Loan Forgiveness program. Brought to you through TIAA and Savi, this tool not only helps strengthen your financial footing in the short-term, but it also positions you for student loan forgiveness. Savi users lower their loan payments by $140 per month and receive $40,000 in loan forgiveness on average.
In 2023, student loan payments resumed for 28 million borrowers for the first time since 2020, and Savi borrowers saw $8 million forgiven.
How does Savi help?
• Reduces your payment based on your income and family size
• Removes the complexities of loan forgiveness and puts the process on autopilot
• Frees up funds that you can direct towards other financial goals like retirement
Savi’s calculator will take your income, taxes, family, and student debt into account to show you a recommended course of action and an estimation of how much you can save.
For more information about Savi, please visit our page on Public Service Loan Forgiveness.
Check our the newest updates from Savi below in their quarterly newsletter, The Savi Times.