Student loan repayment webinar on April 9; aims to help sort scams from real assistance

MADISON – People working long hours, sometimes at two jobs, to pay down their student loans do not always have time to carefully sort through all the information to separate the help from the scams.

The webinar is a joint effort of the Wisconsin Department of Financial Institutions, the Wisconsin Department of Agriculture, Trade and Consumer Protection and Savi are teaming up to provide good information on student loan repayment and forgiveness programs. Savi describes itself as a public benefit corporation working to build solutions for employers to help the workforce combat the student debt crisis.

Join the “Student Loan Repayment Webinar” on Tuesday, April 9, at noon (Central) by registering for the free webinar here.

Count adjustment

The webinar will feature information on federal student loan repayment plans and forgiveness programs, including the U.S. Department of Education’s one-time payment count adjustment that will take place this summer.

Qualifying for the one-time payment count adjustment can get real complicated, real fast.

According to DFI Secretary Cheryll Olson-Collins, to qualify “borrowers must have Federal Direct Loans or Federal Family Education Loans (FEEL) that are held by the U.S. Department of Education.”

Those with commercially-managed FFELs, Parent PLUS loans, Perkins loans or Health Education Assistance Loans (HEAL program loans) must apply for a direct consolidation loan by April 30, 2024, to get the full benefits of the count adjustment.

“Borrowers don’t need to pay a fee to consolidate their loans, receive loan cancellation, or reduce their monthly payments,” said Randy Romanski, DATCP secretary. “Consumers can do all of this for free on the U.S. Department of Education’s website at Borrowers with questions are encouraged to attend this informational student loan repayment webinar to learn more about the many resources available to them for free.”

Savi is working to bring a better experience for borrowers.

“The borrower experience has been broken for too long. Savi is on a mission to change that experience for the better,” said Lindsay Clark, chief borrower advocate for Savi. “No borrower should struggle alone, which is why we’ve created this space for our community of borrowers, friends, and family members to access trusted support and guidance around their student loan debt.”

Student loan repayment webinar

During this interactive webinar, borrowers will learn about current student loan debt relief scams to avoid and how to use the free Wisconsin Student Loan Repayment Tool, created by public benefit corporation Savi.

Savi is a technology startup on a mission to help borrowers navigate the complex student loan system. Their experts will answer questions about federal student loan repayment and explain how their tool can help borrowers navigate the complexities of federal repayment plans, forgiveness programs and lowering payments.

Using Savi’s tool may help borrowers reduce their monthly payments and optimize their repayment plans. To learn more, visit Student loan borrowers can find additional free repayment resources on the DFI’s student loan debt repayment webpage.

Borrowers with questions are encouraged to call the Wisconsin Student Loan Help Hotline at 833-589-0750 or contact Federal Student Aid.

Student loan borrowers who have been the victim of a scam should report it by filing a complaint online, emailing, or calling DATCP’s Consumer Protection Hotline at 800-422-7128.


The Racine County Eye, which includes the Kenosha Lens, is your source for local news that serves our diverse communities. For more K-12 and college education news, check out our Schools section. Subscribe today to stay up-to-date with local news.

Follow us on Facebook: Racine County Eye or Kenosha Lens to make sure you get the latest news.

Racine County Eye and Kenosha Lens – Journalism that serves.

More local news

DEVELOPING: March 22 winter storm school closings and more in Racine, Kenosha Counties

You may also like...