New Startup Savi Raises Series A to Help Graduates with Student Loan Forgiveness

Student loan startup Savi has raised a $6mn series A round led by Nyca Partners; the company is coming along at the perfect time for graduates as the current crisis has made student debt an even bigger issue than before; while the government has announced some short term answers companies like Savi could provide a long term solution; Savi ingests student loan data from users to calculate the best options for repayment or forgiveness while taking into account the goals of its users; the company is focused on social workers, service workers and teachers, counting NEA, the largest teachers union in the United States with around 3 million members, as a partner; Savi’s tools are offered through partners to employees so they can better understand what option is best for them; the company says they have saved the average borrower $140 in savings per month, they charge a subscription fee of $5 for their services. TechCrunch

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