Together, TIAA and Savi will pay out $286 million in student loan debt.

TeknikalRaman 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

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to provide a new debt-management tool that helps public sector workers who want to apply for federal student loan forgiveness.

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Around $286 million in student loan debt is already going to be erased for workers in 100 charitable, hospital, and academic systems.

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According to Shelly Eweka, senior director at TIAA, "We are effective in assisting our customers in achieving their retirement objectives

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but we also realize that it has become such a hardship for them to repay their college loans." We sought a solution

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that would enable us to truly assist our clients in managing and repaying their student debt and qualifying for loan forgiveness.

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“The algorithm is taking into account not just the amount of debt, but your individual circumstances,” Eweka says.

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