Savi, a company providing student loan and education tools and benefits, will expand its partnership with Ascendium Education Group to “ensure that people who have recently lost their jobs or are facing significant financial struggles can use Savi for free to find new repayment and forgiveness options,” a statement said.
Borrowers receive access to Savi’s Student Loan Guidance platform, one-on-one expert support and educational resources.
The partnership comes at a time when all new federal loans transitioned into the Direct Loan program. Changes include the launch of the Repayment Assistance Plan and the end of the SAVE Plan.
Approximately 7.5 million borrowers must exit the SAVE Plan and choose a new repayment plan.
“The time to help borrowers is now. We are witnessing one of the most dramatic restructurings of our student loan system, and borrowers will need guidance through this transition,” Aaron Smith, co-founder of Savi, said in a statement.
“We’re grateful to partner with Ascendium, an organization that’s deeply invested in supporting individuals in furthering their education during a pivotal time. Given the past success of our partnership, we’re looking forward to reaching millions of borrowers with Savi’s free tools and guidance so that they can navigate these changes with ease and achieve financial freedom.”
