- Program provides numerous valuable services to help Orange County residents facing loan repayment
- OC United Way is ensuring this program is free for a full year to all who register
Irvine, CA (October 16, 2023) – Orange County United Way announced today it has partnered with Savi™ to launch ‘My Way to Repay,’ a new program aimed at helping Orange County residents begin to repay their student loans. The program connects borrowers, especially low-income borrowers, borrowers of color, and recent graduates, with free repayment support customized to their unique situation.
More than 43 million Americans hold over $1.6 trillion in student loan debt, averaging about $37,000 of debt per borrower. The financial stress this creates has far-reaching effects on many, causing them to postpone milestones like buying a home or having children. That stress is compounded by the complexities of student loan repayment programs and the challenges of entering repayment after a lengthy payment pause. Borrowers who are in ill-suited payment plans or unaware of their options may quickly default on their loans, causing additional havoc.
My Way to Repay will provide comprehensive solutions that help borrowers navigate their debt and choose the right path for loan repayment or forgiveness. Some of the services offered include:
- A sophisticated online repayment tool which detects eligibility for dozens of repayment and forgiveness programs, syncs all federal and private loans, and submits and monitors applications.
- Educational interactive webinars to deliver the latest on policy updates, share how to use the online repayment tool, and provide real-time answers to loan questions.
- A personalized loan counseling hotline that connects to student loan experts for tailored advice and insights.
- The “Essential” plan which is 100% free of charge. Credit card information is not required or needed to sign up.
This partnership was made possible by a recent grant given to Orange County United Way to help individuals in Orange County repay their student loans. My Way to Repay will be free for a full year to anyone in need who registers.
“The harsh reality is that many Orange County families are facing great difficulty repaying student loans and are unaware of the various programs that exist to make this journey less stressful,” said Susan B. Parks, President, and CEO of Orange County United Way. “We want to empower community members to get on the path from surviving to thriving, and My Way to Repay is a valuable tool towards that goal.”
Savi is a social impact technology startup in Washington, D.C. founded by long-time student loan experts and advocates. Working to solve the pressing student debt crisis affecting 46 million borrowers, Savi helps them discover new repayment and loan forgiveness options.
“Ensuring borrowers have the right resources, like those offered through My Way to Repay, is critical. Savi’s technology ensures all users have the ability to easily compare repayment options, discuss their situation with student loan experts, and access resources that help them stay on top of their debt, making this program life-changing for many,” added Andrew Fahmy, Executive Director of Orange County United Way’s United for Financial Security initiative.
To register free of charge, or for more information, please visit: ocunitedway.bysavi.com
ABOUT ORANGE COUNTY UNITED WAY
Orange County United Way is committed to breaking barriers and improving lives for everyone who lives here. Through our key initiatives—United for Student Success℠, United for Financial Security℠, and United to End Homelessness℠—we are working to ensure local students succeed, struggling OC families gain financial security, and our homeless neighbors find a place to call home. We also offer vital support via 2-1-1 Orange County (211OC), a key service that connects thousands of our most vulnerable residents with health and human service resources. We are committed to caring for one another. That’s #TheOCWay.
To learn more or discover how you can help, visit UnitedWayOC.org.
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Media Contact: Annie Noebel, firstname.lastname@example.org, (949) 525-7024