Together, TIAA and Savi will pay out $286 million in student loan debt.
Finance & Business
POSTED BY: GWS Team
PUBLISHED: Jun 23, 22
Recently, the insurance provider TIAA and the social impact technology start-up Savi announced a collaboration
to provide a new debt-management tool that helps public sector workers who want to apply for federal student l
Around $286 million in student loan debt is already going to be erased for workers in 100 charitable, hospital, and academic systems.
According to Shelly Eweka, senior director at TIAA,
"We are effective in assisting our customers in achieving their retirement objectives
but we also realize that it has become such a hardship for them to repay their college loans." We sought a solution
that would enable us to truly assist our clients in managing and repaying their student debt and qualifying for loan forgiveness.
“The algorithm is taking into account not just the amount of debt, but your individual circumstances,” Eweka says.