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NACAC, Savi Offer Members Student Loan Debt Management Tools

Contact:
Shanda Ivory

NACAC, Savi Offer Members Student Loan Debt Management Tools

 

Arlington, VA (June 14, 2021) – The National Association for College Admission Counseling (NACAC) has joined with social impact startup Savi to offer its members tools to manage their student loan debt.

“Student loan debt is a staggering problem across generations,” said Shantel Goodman-Luckett, NACAC chief experience officer. “Many adults have student loan debt from their educational pursuits and also from borrowing to finance their children's education. NACAC understands that easing the burden of student debt is critical to well-being and that navigating student loans on your own can be overwhelming. Teaming with Savi helps NACAC help our members.”

Through the NACAC/Savi relationship, NACAC members are exclusively eligible to receive a 50 percent discount for Savi’s services.

For $45 a year, they will receive Savi’s Essential service, which helps borrowers enroll in government repayment and forgiveness programs that could lower their monthly payments. These services include the filing of their student loan paperwork, one-on-one support with a student loan expert, and ongoing monitoring of applications with loan servicers and the US Department of Education.

In addition, NACAC members are eligible to create a free Savi account, which includes a free savings estimate to understand the best options for lowering monthly student loan payments and whether participants qualify for public service loan forgiveness programs.

“Our hope is that these options help as many members as possible obtain short-term relief and long-term freedom from student debt,” said Goodman-Luckett. “By providing access to Savi’s innovative online platform, NACAC members will be able to better understand their loan debt, optimize their repayment options, and enroll in the best plan for their financial needs.”

Founded in 2017 by long-time student loan experts and advocates, Savi helps student loan borrowers better navigate the complicated repayment and forgiveness process by helping them determine qualifications for federal student loan forgiveness, identify potential monthly savings, and apply for an optimal student loan repayment plan through the US Department of Education.

To date, Savi has identified more than $200 million in projected forgiveness for borrowers. Savi student loan borrowers save an average of $1,880 per year and qualify over time for an average of more than $28,000 in projected loan forgiveness.

Savi’s services closely align with the pro-student, pro-borrower approach of NACAC, said Goodman-Luckett. Because NACAC’s nearly 24,000 members are employed by secondary schools, colleges or universities, they are likely eligible for a federal student loan forgiveness program, she said.

NACAC members can register for the "Student Loan Forgiveness Session for NACAC Members" on Thursday, June 17, at 4 p.m. ET for additional information and an opportunity to ask questions.

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About NACAC
The National Association for College Admission Counseling (NACAC), founded in 1937, is an organization of more than 23,000 professionals from around the world dedicated to serving students as they make choices about pursuing postsecondary education.

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