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April 13, 2020

Savi helps student loan borrowers get out of debt faster

Oscar Hong

Nearly 48 million Americans have outstanding student loans. When you add them all up, they total more than $1.5 trillion.

On an individual level, those debts are changing the way people live. Increasingly, they must delay life milestones like getting married, having kids, buying a home, and saving for retirement.

In 2017, Aaron Smith and Tobin Van Ostern founded Savi to help borrowers find relief. Savi is a digital platform that identifies better loan-repayment and loan-forgiveness options so that their users can get out of debt faster.

“For many of us, student loan debt is a barrier to living the lives we want,” said Van Ostern. “Aaron and I are doing everything we can to fix that.”

To make their platform work, Savi faced a unique challenge. They needed a way to quickly and easily connect to all of someone’s student loans. For that, they turned to Plaid, who gives Savi the full picture of a user’s debt situation.