Effective July 1, major changes to federal student loan programs will take effect, including the end of the SAVE plan, the rollout of the Repayment Assistance Plan (RAP), new borrowing caps and tighter restrictions on Parent PLUS loans.
To help faculty and staff members navigate this new landscape, Case Western Reserve University and TIAA has partnered with Savi, a student loan support tool that:
- Provides personalized guidance;
- Identifies lower repayment options; and
- Helps eligible borrowers stay on track for forgiveness.
Employees using Savi lowered their average monthly payment from $745 to $185—a 75% reduction—and unlocked an average of $48,581 in projected loan forgiveness, compared to $0 before enrolling.
Overall, Savi has helped manage $7.2 million in student loan debt and generated $4.42 million in projected forgiveness for participating employees and their families.
To discover how you can take advantage of Savi, visit the Department of Human Resources website.
