TIAA has joined forces with Savi, a social impact technology company, to help you navigate federal student loan programs. Their student loan solution will help you identify eligibility for federal income driven repayment plans and forgiveness programs designed specifically for people who work at eligible public interest employers, that is, at a 501(c)(3) not for profit school, university or hospital; in government or approved governmental entities; or at a few other public interest organizations. This service is designed to make that process easier if you are eligible and applying.

Top 3 FAQ: TIAA’s Student Loan Solution provided by Savi

Who is Savi?

Savi was started as a social impact public benefit company. The people behind it are student loan experts, advocates and borrowers who have been fighting for many years to improve the broken student loan system. Savi realized that the 44+ million student loan borrowers needed better and more personalized information about how to manage and repay their debt. Savi helps people navigate the valuable but complicated federal programs available to people who work in public service. TIAA has a minority ownership interest in Savi.

How can Savi help me? Is there a fee to use Savi?

Savi users saw average projected savings of $1,680 per year and an average
projected forgiveness of $40,000 per borrower. 

There are two service tiers available to borrowers.

1. A free calculator to assess their situation and get guidance on the best options available.
2. For $70 ($60 before June 30, 2024) per calendar year, you can enroll in Savi’s Essential service. Savi will administer the program’s ongoing paperwork requirements including annual reenrollment, employer certifications, and filing for PSLF credits with the DOE. This service helps borrowers avoid common and not so common errors and to stay in compliance with exacting rules.

What do I need to get started with Savi?

Go to TIAA.org/uva/loanforgiveness and follow the path to explore your federal
forgiveness options. You’ll need three things to use Savi effectively:

1. Your social security number 
2. The first page of your most recent tax transcript* or tax return
   
   *A tax transcript is a summary of your recent tax filings that can be requested from the IRS(Internal Revenue Service). Each transcript includes important information for applying to new student loan repayment plans, such as your filing status, adjusted gross income (wages, and more. You can request a copy of a tax transcript in about 5 minutes by visiting https://www.irs.gov/individuals/get transcript
    
3. Login information to any loan servicers
   
   Your login information includes username or email, password, and anything else required to log into your student loan servicer’s website. Your student loan servicer website is the place you go to make payments on your student loans. This information will be used to import your student loan details into Savi during the account setup process.

Click to Read the Savi Quick Start Guide