Savi, Ascendium widen free student loan help for struggling borrowers

Savi and Ascendium Education Group are expanding their partnership and My Way to Repay campaign to give unemployed borrowers and others facing financial hardship free access to student loan repayment and forgiveness tools. The move comes as federal loan changes roll out July 1 and millions of borrowers must choose new repayment plans.

Why it matters: - Millions of federal student loan borrowers are being pushed into a major repayment reset as the SAVE Plan ends and the new Repayment Assistance Plan launches on or around July 1, 2026. - Borrowers who are unemployed or under severe financial strain can now use Savi’s guidance tools for free to find lower-cost repayment paths or forgiveness options. - The expansion comes as delinquency and default rates are rising, which raises the stakes for borrowers who miss the transition.

What happened: - Savi expanded its partnership with Ascendium Education Group and its national My Way to Repay campaign. - The program is designed for people who recently lost jobs or are facing significant financial struggles. - Borrowers will get free access to Savi’s Student Loan Guidance platform, one-on-one expert support, and educational resources. - Savi says the platform has helped borrowers find more than $5 billion in higher education savings to date.

The details: - Roughly 7.5 million borrowers must exit the SAVE Plan and choose a new repayment plan. - The U.S. Department of Education says servicers will begin sending formal 90-day notices starting July 1 to tell borrowers to leave SAVE and pick another plan. - Borrowers who do nothing may be moved into a Standard Repayment Plan or a Tiered Standard Plan, which costs more. - Recent Education Department changes and staff reductions have added to borrower confusion. - The Federal Reserve Bank of New York said student loan defaults rose from 1 million in Q4 2025 to 2.6 million in Q1 2026. - Savi and Ascendium first partnered in 2023. - Since then, the partnership has reached more than 2 million borrowers with educational resources, content, and tools. - The partnership has delivered an average of $217 in monthly savings per borrower. - Borrowers using My Way to Repay can access Savi’s platform, which scans more than 150 public and private forgiveness and repayment plans. - The platform calculates monthly savings or total forgiveness amounts and automates the paperwork process. - Borrowers also get a personalized dashboard available 24/7. - Support includes webinars, a call center, live chat, email, and ongoing student loan assistance.

Between the lines: - The partnership is targeting borrowers most likely to struggle with the coming transition, which suggests the companies see the rollout as both a consumer-support issue and a navigation problem. - Free access lowers a key barrier for borrowers who may not have the time, money, or expertise to sort through repayment options on their own. - The scale of the federal changes makes outside guidance more valuable, especially for borrowers at risk of default.

What's next: - Borrowers can register for Savi’s webinar on July 1, which will cover the latest policy changes. - More borrowers are expected to receive official notices and face decisions about new repayment plans as the July 1 transition begins. - Additional borrowers may be directed to My Way to Repay as the campaign continues to expand outreach.

The bottom line: - Savi and Ascendium are betting that free, hands-on loan guidance will help vulnerable borrowers avoid costly mistakes during one of the biggest student debt overhauls in years.