The seminar is intended for executives and Human Resource leadership. This seminar will focus in particular on non-profit and government employers, who may have employees eligible for Public Service Loan Forgiveness. Under PSLF, non-profit and government employees could be eligible to have their federal loans forgiven after 10 years. The first round of forgiveness starts October 2017. We will cover a broad range of student loan topics, including: • Student loan legislation and policy updates • Public Service Loan Forgiveness • Employer responsibilities on PSLF certification • Student loan impact on workers • Options for employer student loan benefits

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2. Background in Student Loan Advocacy &
Millennial Engagement
2017:
Co-Founded
Savi to help
student loan
borrowers
Aaron Smith
•Co-Founded Young
Invincibles non-profit,
now has 50+ Staff & 5
offices
•Developed initial
student loan policies
and advised the
Department of
Education and
Congress on their
implementation
Tobin Van Ostern
•Led student engagement
for the Obama Campaign,
growing to over 1,000
chapters
•Led creation of major
student loan policies
while at the Center for
American Progress
•Provided advice to the
White House,
Department of Education,
and Congress
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3. 3
Agenda
1. Introductions
2. Student Loan Crisis
3. Federal Student Loan Benefits
– Standard Repayment
– Graduated Repayment
– Income Based Repayment
– Public Service Loan Forgiveness
– Employer Role
4. Combining repayment programs
5. Other Notes
– Refinancing Student Loans
– Servicers
– Federal Protections
– Frauds & Scams
– Legislation & Policy Changes
6. Savi’s Solution
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INTRODUCTIONS

5. 41 MILLION BORROWERS
$37,000 AVERAGE DEBT
5

6. 1.4 Trillion Dollars of Debt
0
200
400
600
800
1,000
1,200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Total student loan balances by age group
under 30 30-39 40-49 50-59 60+
31%
Billions of Dollars
19%
12%
5%
33%
Source: New York Fed Consumer Credit Panel / Equifax
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7. • 59% of Millennials see a student loan benefit as the most
appealing new employer benefit (Gallup)
• Over 25% of Millennial Employees say they will not stay with
their employer due to their financial situation
• Student Loan Debt is not only a Millennial issue – Over 15%
of student loan debt is held by people over age 50
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Employees & Family Members with Debt

8. FEDERAL STUDENT LOAN BENEFITS
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Standard Repayment
• Fixed monthly payments of at least $50 for 10 years
– Monthly payments may be slightly higher than payments under other plans
• Student loans paid off in shortest time and with lowest total interest
payments over life of the loan using this plan
• All loan types except Direct Consolidation Loans and FFEL
Consolidation Loans qualify for 10 year repayment plan
– Length of repayment period for Direct Consolidation or FFEL Consolidation Loans
depends on amount of total education loan indebtedness

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Graduated Repayment
• Low monthly payments that increase every 2 years as student loan
borrower’s expected income rises
– Borrower may still struggle with payments if income does not rise as expected
• Interest only payments for one year following separation or grace period
– Unconsolidated loans: Pay off student loan debt in 10 years
– Consolidated federal loans: Pay off student loan debt between 10 and 30 years
• All federal student loan borrowers are eligible
• Does not qualify for PSLF
• Requires borrowers to pay more over time using this plan than another
option

11. Income-Based Repayment
• Income-based repayment plans cap monthly payments based on your
income
• Based on family size and last year’s income
• Lengthens repayment, Requires annual re-certification
• Plans
– REPAYE
– PAYE
– IBR
– ICR
– NEW IBR
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Income-Based Repayment Plans
PLAN ELIGIBILITY MONTHLY PAYMENT DISCHARGE AFTER
REPAYE
All Direct student loan borrowers.
No PFH requirement.
10% of discretionary income
20 years for undergraduate debt;
25 years for graduate debt
PAYE
Direct student loan borrowers who
took out their first loan after
9/30/07 and at least one loan
after 9/30/11, and have a PFH
10% of discretionary income, up to
the fixed 10-year payment amount
20 years
IBR
All federal student loan borrowers
(Direct or FFEL) with a PFH
15% of discretionary income, up to
the fixed 10-year payment amount
25 years
ICR
All Direct Loan borrowers. No PFH
requirement
The lesser of: 20% of discretionary
income and 12-year repayment
amount x income percentage
factor
25 years
NEW IBR
Borrowers who take out their first
loan after 7/01/2014 and have a
PFH
10% of discretionary income, up to
the fixed 10-year payment amount
20 years

13. Public Service Loan Forgiveness
• Federal student loan debt forgiven after 120 payments (10 years) if
you work for:
– Non-profit (501c3)
• Includes non-profit hospitals, colleges, etc.
– Federal, state or local government
• Includes teachers, police, firefighters, etc.
• Not required to be consecutive
• Eligible repayment plans include IBR, ICR, standard repayment or a
combination of these plans
– Extended repayment and graduated repayment do not count
• Eligible loans include all Federal Direct Loans
– Borrowers in the FFEL program need to consolidate into Direct Loans to qualify
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Application for Forgiveness Form
• Determines if applicant qualifies for PSLF
according to their employer
• Completed form sent to FedLoan Servicing
– Or upload to MyFedLoan.org/FileUpload if FedLoan
Servicing is already the servicer

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Annual Employment Certification Form
• Required to certify employment through
employer
• Must be submitted periodically
– If not submitted periodically, applicant required to
submit Employment Certification for both past and
current employers while making required 120
qualifying monthly payments
• Completed form sent to FedLoan Servicing
– Or upload to MyFedLoan.org/FileUpload if FedLoan
Servicing is already the servicer

16. COMBINING REPAYE & PSLF
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Income-driven repayment plan
(bases your payment amount on
your income instead of how much
you owe)
REPAYE:
Revised Pay As You Earn Plan
PSLF:
Public Service Loan
Forgiveness Plan
$37,000
=
$387/month
Repayment Plan:
- First Monthly Payment: $158
- Last Monthly Payment: $311
- Will have $25,003 forgiven in 10 years with PSLF
- Total payment of $27,570
Forgives the remaining balance of Direct
Loans after the individual has made 120
qualifying payments while employed by
a qualifying employer (no income
requirement)
Loan
Example
Annual Income = $43,000
Loan Balance
* Family size = 1 dependent

18. OTHER NOTES
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Refinancing Student Loans
• Private Student Loans
– May refinance at a lower rate to reduce monthly loan payments or amount of
interest owed over life of the loan
– Often offer a more risky variable interest rate as opposed to fixed rate on
federal loans
• Federal Student Loans
– Must forfeit eligibility for benefits such as income-driven repayment and loan
forgiveness
– Government-backed consolidation available

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Servicers
• 12 student loan servicers
• Consumers do not actively choose
their student loan servicers
– Servicer is sometimes the lender or owner of
loans
• Third party servicers collect payments
from private student loan borrowers
– Borrowers often do not know whether they have
federal or private student loans

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Federal Protections
• Loan repayment protection programs help repay loans in times of
financial hardship
• Many borrowers unaware of categorical differences between federal and
private protections
– Federal: Income-based repayment, economic hardship deferment, forbearance
• No student loans can be discharged in bankruptcy
• Student loan complaints
– Find a list of complaints published monthly and annually through the CFPB
– File complaints with the Department of Education’s FSA Ombudsman Group
• Resolves disputes related to federal direct loans

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Frauds & Scams
• National crackdown targeting deceptive student loan debt
relief scams
– Headed by: U.S. Department of Education, U.S. Postal Inspection Service,
attorneys general, local law enforcement
• Federal Trade Commission and 11 states in federal-state
enforcement initiative
– 36 actions by the FTC and state attorneys general for fraud totaling more than
$95 million in illegal upfront fees
– Court orders in two pending cases against Student Aid Center and Strategic
Student Solutions

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Legislation & Policy Changes
• Internal Revenue Code Section 127 amendment
– Business tax credit for employer contributions to employee student loan
repayment
• Bipartisan SIMPLE Act
– Would enroll delinquent borrowers into Income Driven Repayment plans
• Public Service Loan Forgiveness program elimination
– Would favor single Income-based Repayment program

24. WHAT IS SAVI?
“TurboTax for Student Loans”
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25. Our Solution:
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1. Determine the Best Repayment Plan
•Interactive personalized repayment wizard
•Proprietary algorithm will provide plan
recommendations from a broad array of plans
•This will typically be an income-based plan that caps
their payments at 10% of their MAGI
2. Enroll Borrowers
•And re-enroll them annually
•Automated push reminders
•Automatic capture of employer verification signatures
•Subsequent annual certifications pre-populate which
improves our retention
Take the guesswork and paperwork out of a very
complex process to help borrowers make better
decisions

26. Co-Branded Website
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27. Raffa.BySavi.com
• FREE for Employees to Use
– Provided to employees and family members with
student loan debt
• Support Features – Live Chat
• Time-saving Tools – Automates HR paperwork
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28. QUESTIONS?
Tobin@bysavi.com
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