MADISON – Individuals working extended hours, in some cases at multiple jobs, to meet their student loan obligations often lack the time to meticulously sift through the plethora of information to distinguish genuine assistance from fraud.
The webinar is a collaborative initiative by the Wisconsin Department of Financial Institutions, the Wisconsin Department of Agriculture, Trade and Consumer Protection, and Savi. They are partnering to offer reliable information on student loan repayment and forgiveness programs. Savi identifies itself as a public benefit organization striving to create solutions for employers to help employees combat the student debt crisis.
Participate in the “Student Loan Repayment Webinar” on Tuesday, April 9, at noon (Central time) by enrolling for the complimentary webinar here.
Count adjustment
The webinar will present information on federal student loan repayment plans and forgiveness programs, encompassing the U.S. Department of Education’s singular payment count adjustment slated for this summer.
Securing the one-time payment count adjustment can become fiddly and intricate fairly quickly.
According to DFI Secretary Cheryll Olson-Collins, to be eligible, “borrowers need to have Federal Direct Loans or Federal Family Education Loans (FEEL) that the U.S. Department of Education holds.”
Those with commercially managed FFELs, Parent PLUS loans, Perkins loans or Health Education Assistance Loans (HEAL program loans) are required to apply for a direct consolidation loan by April 30, 2024, to avail the full benefits of the count adjustment.
“Borrowers are not required to pay a fee to consolidate their loans, obtain loan cancellation, or lessen their monthly installments,” stated Randy Romanski, DATCP secretary. “Consumers can accomplish all of this for free on the U.S. Department of Education’s website at StudentAid.gov. Borrowers with queries are urged to participate in this informational student loan repayment webinar to gain more insights about the myriad free resources available to them.”
Savi is endeavoring to facilitate a superior experience for borrowers.
“For too long, the borrower experience has been flawed. Savi is embarking on a mission to amend that experience for the greater good,” remarked Lindsay Clark, chief borrower advocate for Savi. “No borrower should grapple alone, which is why we’ve established this platform for our community of borrowers, affiliates, and family members to access authentic support and counsel concerning their student loan obligations.”
Student loan repayment webinar
During this participative webinar, borrowers will gain insights about prevalent student loan debt relief frauds to steer clear of, and how to utilize the free Wisconsin Student Loan Repayment Tool, created by public benefit organization Savi.
Savi is a tech startup on a mission to assist borrowers in navigating the intricate student loan system. Their specialists will address questions about federal student loan repayment and elucidate how their tool can aid borrowers in comprehending the complexities of federal repayment plans, forgiveness programs, and reducing payments.
Utilizing Savi’s tool might assist borrowers in decreasing their monthly installments and enhancing their repayment strategies. To gain further knowledge, visit ElevateWI.BySavi.com. Student loan borrowers can locate additional free repayment resources on the DFI’s student loan debt repayment webpage.
Borrowers with queries are encouraged to dial the Wisconsin Student Loan Help Hotline at 833-589-0750 or contact Federal Student Aid.
Student loan borrowers who have fallen prey to a scam are advised to report it by lodging a complaint online, emailing DATCPHotline@wisconsin.gov, or calling DATCP’s Consumer Protection Hotline at 800-422-7128.
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