TIAA has joined forces with the student loan experts at Savi to help you navigate the complexities of federal student loan programs such as Public Service Loan Forgiveness (PSLF).
Powered by Savi, a social impact technology company, this tool offers Tulane employees the opportunity to assess your eligibility and find the best federal repayment and forgiveness programs available to you, based on your financial situation.
How It Works
Despite the potentially huge benefits of programs like Public Service Loan Forgiveness (PSLF), the rules and requirements are complex, and the loan forgiveness success rate without Savi has been relatively low. That’s why TIAA joined forces with Savi to offer services that can help you successfully take advantage of programs like PSLF by working to assess your eligibility and potentially cap your payment based on income and family size.
Savi offers two service tiers available to borrowers:
- A free calculator to assess your situation and get guidance on the best options available
- For an annual fee of $60, you can enroll in Savi’s Essential service (for more details see below).1 Please review the Savi Quick Start Guide to learn more about how the service works and what information you will need to provide in your initial assessment.
What To Expect When Applying For Forgiveness With Savi Essential
With Savi Essential service, Savi streamlines the entire process, from helping you enroll in forgiveness programs to ongoing support and payment tracking, ensuring you remain on track from start to forgiveness—all for a small fee.2 Here's a snapshot of what will happen.
- First, you need to enroll in Savi Essential Service.
- Next, provide your basic information. From there, Savi handles the rest—from checking your forgiveness application for accuracy and completion all the way to submission.
- After some verifications with us, which Savi handles, everything is sent to your loan servicer.
- You'll receive reminders from Savi for ongoing things you may need to do afterward, like an annual submission to the PSLF program. That way you stay in compliance with all of the particulars that go along with forgiveness programs.
Who Is Eligible?
Eligibility is based on several factors, including full-time employment, income, debt amount, number of dependents and other personal information. Please review the Savi Quick Start Guide to learn more about who is eligible and how you can use Savi’s free assessment tool to help determine if you qualify for a forgiveness plan.
We're so excited this opportunity is available to our employees and their family members. And don’t forget—student debt you’ve incurred on behalf of your children (Parent PLUS loans) may qualify for relief. If you haven't yet, take a minute and find out how much you could lower your monthly payment.
Want To Learn More?
In addition to the resources linked below, Savi hosts a weekly student loan forgiveness workshop open to the public. To learn more and get registered for an upcoming virtual workshop, click here.
Savi Quick Start Guide
Frequently Asked Questions
1A portion of the fee is shared with TIAA to offset costs to support the program. In addition, TIAA has a minority ownership interest in Savi.