Skip to main

If you have outstanding student loans, savings might be possible

Public Service Loan Forgiveness (PSLF)

Your employment at UK counts as public service

The federal Public Service Loan Forgiveness program is designed to reduce the burden of student loan debt for people who work in public service. This federal program considers UK a public service employer. 

This means, as a UK employee, you might be eligible for loan forgiveness.

Simply put, Public Service Loan Forgiveness pairs the immediate relief of an income-driven repayment plan (to make your monthly payments affordable) with the longer-term relief of loan forgiveness.

Savi estimates your possible loan savings

A free tool available to you as a UK employee

Savi will check for two savings opportunities:

  1. If you might be eligible for PSLF
  2. If you might be able to lower your monthly student loan payments

How to decide whether to pursue Public Service Loan Forgiveness (PSLF)

Public Service Loan Forgiveness is a program specifically for people who work for non-profit, government or public sector employers, which includes UK. If you work for these eligible employers long enough to make 120 monthly on-time payments and have Direct Loans, you may be eligible to have your remaining federal student loan debt forgiven tax free.

If you know you will not be working full-time in a non-profit for the full120 months, then forgiveness may not be the right path for you. You may want to consult your personal tax or legal adviser before making any decisions regarding the status of your student loans.

Do you plan to work full-time at a non-profit for 120 months?
Entering into Public Service Loan Forgiveness or another forgiveness program requires a commitment to see it through to the end. Switching to an income-driven repayment plan (required if you are working towards Public Service Loan Forgiveness) may actually cause your student debt to increase over time, which can be problematic unless you get forgiveness at the end.

Learn more from the federal government

Public Service Loan Forgiveness

Are you pursuing Public Service Loan Forgiveness? We offer help in two ways

1. Free employment verification service

PSLF requires verification of your employment at public service organizations. We’ll verify your UK employment at your request using our online form.

PSLF requires employment verification and we’ll do that for you

The required PSLF paperwork includes us verifying your employment at UK. We’ll verify your employment at no charge to you. Whether you use Savi Essential or not, you’re still responsible for requesting your employment verification using our form.

Verify your employment every year
If you choose to pursue PSLF, you’ll find it’s recommended to submit your employment verification annually.

Request employment verification from UK
 

2. Free concierge service

UK employees have access to Savi Essential, a concierge service, at no cost. Consider the Savi team as your advocate to help you navigate PSLF complexities.

Do you want an advocate to help you?

Savi Essential makes PSLF less overwhelming
You’ve probably heard some negative press about the difficulties borrowers have faced in attempting to realize the benefits from these programs. That’s where Savi Essential comes in.

If you choose to pursue forgiveness, consider enlisting Savi Essential as your student loan advocate. This is a concierge service which will complete and manage your PSLF paperwork for the duration of the program.

Savi Essential helps you:

  • Apply for an income-driven repayment plan
  • Track payments toward forgiveness
  • Meet your deadlines in time by providing enrollment reminders
  • Stay in compliance with the PSLF rules
  • E-file forms

Savi Essential acts as your advocate if you need help along the way.

Free for UK employees

Savi Essential is free for UK employees (typically $90).

You can pursue loan forgiveness with the help of Savi Essential.

Whether you use Savi Essential or not, you’re still responsible for using our online form to request your employment verification.

Frequently asked questions about Savi

Who is Savi?

Savi was started as a social-impact public benefit company. The people behind it are student loan experts, advocates and borrowers who have been fighting for many years to improve the student loan system. Savi realized that the 44+ million student loan borrowers¹ needed better and more personalized information about how to manage and repay their debt. Savi helps people navigate the valuable but complicated federal programs available to people who work in public service.

¹ Source: New York Fed Consumer Credit Panel/Equifax

What's free from Savi and what's not?

You can use the Savi site and online Student Loan Checkup tool for free. Once you learn about your options and see potential savings, you can choose to apply for PSLF and manage the ongoing paperwork on your own.

Or, if you decide you’d like help applying for the income-driven repayment plan and maintaining the paperwork for forgiveness, Savi Essential offers additional support for a $60 annual fee. You’ll be able to enroll digitally so you don’t have to worry about filling out and routing paper forms.

When Savi requests my HR contact, what information do I provide?

If you have Savi Essential, they may ask you to provide an HR contact. They may contact our HR records team at verifications@uky.edu.

However, whether you’re using Savi Essential for your loan forgiveness paperwork or doing it yourself, you’ll need to provide verification of your employment with UK. Use this HR form to request your employment verification record needed for public service loan forgiveness.