Are you still paying for student loan debt?
It’s time to learn about the Public Service Loan Forgiveness Program (PSLF). You’re also not alone if you’re not aware of the Department of Education’s Public Student Loan Forgiveness (PSLF), for individuals with federal loans who work for qualifying public service organizations or government employers. This valuable program offers borrowers a way to reduce monthly loan bills, with total loan forgiveness after making 120 months of eligible payments. The University of Alabama Huntsville wants to help eligible employees with student debt take advantage of this money-saving program. And because we are considered a “public service organization” under the rules of the PSLF, you qualify for the loan forgiveness program as a UAH employee.
Despite the potentially huge benefits of this program, the rules and requirements are complex, and the loan forgiveness success rate has been relatively low. That’s why UAH and TIAA have joined forces with Savi to offer a service that can help you successfully take advantage of the PSLF program. The experts at Savi can help you find the best loan repayment and forgiveness options and navigate through the complexities. Through Savi, you can lower your student loan payments and get on track for student loan forgiveness - so you can save for your financial goals, like retirement.
Visit https://www.tiaa.org/public/tcm/uasystem/student to calculate your savings and get started!
Webinar opportunities
Savi is offering two webinars to help you to learn how you can get on track for student loan forgiveness and get up to speed on any recent PSLF policy changes. Register for one today!
- Wednesday (1/18) @ 11:00 AM: https://www.eventbrite.com/e/huntsville-student-loan-forgiveness-workshop-powered-by-savi-tickets-433045319207
- Thursday (1/26) @ 1:00 PM: https://www.eventbrite.com/e/huntsville-student-loan-forgiveness-workshop-powered-by-savi-tickets-433048819677
Option 1: Do it yourself service.
FREE to all UAH employees! Leverage Savi’s calculator and review repayment options. Manually apply for repayment and forgiveness programs through the Department of Education. Access custom onboarding sessions and bi[1]monthly webinars.
Option 2: Essential Service.
Savi offers a special service, called Savi Essential, which can help you navigate the complex rules and procedures of the PSLF program, making it easier to stay on track for loan forgiveness. With an annual fee of just $60, and $30 of the fee paid for by UAH, the experts at Savi will support you with various PSLF tasks, handle paperwork on your behalf and remind you when it’s time to recertify for the next year for your annual fee.
Total Annual application cost: $60. UAH will pay ½ the cost each year.
Benefits: All of the benefits from option 1, plus fully digitized forgiveness and savings plan forms, one-on-one support with student loans, and access custom onboarding and bi-monthly webinars.
Savi will help you:
- Determine if your loan(s) qualify for forgiveness
- Identify the best repayment method for your loan and your estimated monthly payment
- Estimate how much money will be forgiven and when
- Consolidate your loan(s), if needed, to conform with the PSLF Limited Waiver requirements
- Generate any required forms, help you complete them, check them prior to submission and then submit them on your behalf
- Monitor your submitted applications and forms with loan servicers and your employer
- Track your PSLF credits once you start making loan payments under the program
- Update you on any policy changes
