Savi Launches AI-Powered Student Loan Assistance Feature
Savi has released its Savi AI Assistant tool for student loan borrowers to receive personalized and instant repayment options.
The new feature will now be available to union members as part of a partnership with Union Plus, a nonprofit organization founded by the AFL-CIO in 1986 to provide voluntary benefit programs to union members and their families. With the introduction of Savi AI Assistant, both organizations aim to help millions of borrowers navigate the student loan system and find immediate relief.
Savi’s AI feature, which leverages the latest OpenAI LLM model, will help borrowers find and apply for new repayment and forgiveness plans, in an effort to eliminate the traditional paperwork process. The company’s new AI feature is trained by over three million borrower interactions to provide users with precise information and savings calculations.
“At Savi, our mission has always been to tackle one of the biggest burdens more than 46 million Americans face — student debt. By helping borrowers navigate the complexities of student loans through accessible tools and ongoing support, we have found nearly $5 billion in higher education savings,” said Tobin Van Ostern, co-founder of Savi. “With recent changes at the Department of Education, borrowers need assistance now more than ever. With our new AI features, we are one step closer to delivering personalized support to all borrowers. We couldn’t be more excited for this launch and to offer our services to millions of borrowers through our partnership with Union Plus.”
Union Plus participants, including spouses, children, grandchildren, financial dependents, and parents, can access Savi’s new AI features, platform, and ongoing support at no cost. Savi and Union Plus project to help members save an average of $38,980 in student loan debt by enrolling them into repayment plans. “Excessive student debt can have a lasting impact on retirement savings, buying power, personal milestones, and so much more. With this new benefit, we look forward to further helping union members achieve financial freedom,” said Mitch Stevens, president of Union Plus.
Savi’s platform and features are available to union members through a dedicated portal or by logging into their Union Plus account. Union members can also attend Savi’s monthly live seminars and Q&A sessions, which feature student loan experts from Savi who provide the latest information on federal student loan repayment plans, forgiveness options, and student loan policy updates.
Savi plans to expand its AI offerings to all its partners by the end of the year.