FOR IMMEDIATE RELEASE: August 1, 2023
DATCP Contact: Caleb Kulich, Public Information Officer, (608) 621-1290, caleb.kulich@wisconsin.gov
DFI Contact: Caleb Kulich, Public Information Officer, (608) 621-1290, DFICommunications@dfi.wisconsin.gov
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MADISON, Wis. – The Wisconsin Department of Financial Institutions (DFI), Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP), and Savi today announced they are hosting a free online student loan workshop on Tuesday, August 15, 2023. The online event will help federal student loan borrowers prepare for the end of the U.S. Department of Education’s COVID-19 emergency relief for federal student loans. Federal student loan interest will resume starting on September 1, 2023, and federal student loan payments will be due starting in October 2023.
“With federal student loan payments resuming this fall, it’s more important than ever for federal student loan borrowers to explore their federal student loan repayment options and make a plan for repayment today,” said DFI Secretary-designee Cheryll Olson-Collins. “This live and interactive webinar with student loan experts will help federal student loan borrowers understand how to best prepare for payments resuming starting in October and what repayment and forgiveness programs are available to them right now.”
“As federal student loan payments resume, borrowers should watch for dishonest offers from debt relief scammers on loan forgiveness or savings from consolidation,” said DATCP Secretary Randy Romanski. “Borrowers with questions should attend this informational workshop to learn more about the many resources consumers can access.”
Join the “Student Loan Workshop: Preparing for Payments to Resume” on Tuesday, August 15, from 12:30 – 1:30 p.m. Central Time by registering for the free webinar here.
During this workshop, federal student loan borrowers will learn about current student loan debt relief scams to avoid and how to use the free Wisconsin Student Loan Repayment Tool, created by public benefit corporation Savi. Savi is a technology startup whose mission is to help borrowers navigate the complex student loan system. Their student loan experts will answer questions about federal student loan repayment and explain how their tool can help borrowers navigate the complexities of federal student loan repayment plans, forgiveness programs, and lowering student loan payments. Using Savi’s tool may help borrowers reduce their monthly payments and optimize their repayment plans. Student loan borrowers can find additional free repayment resources on DFI’s student loan debt repayment webpage.
DFI and DATCP encourage federal student loan borrowers to create a repayment plan now to help ensure a smooth return to repayment and to beware of fraudsters taking advantage of this transition period. Borrowers with questions are encouraged to call the Wisconsin Student Loan Help Hotline at (833) 589-0750 or contact Federal Student Aid. Student loan borrowers who have been the victim of a scam should report it by filing a complaint online, emailing DATCPHotline@wisconsin.gov, or calling DATCP’s Consumer Protection Hotline at (800) 422-7128.
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