WINDSOR, Conn.--(BUSINESS WIRE)--Jun. 17, 2025-- Voya Financial, Inc. (NYSE: VOYA), announced today a new collaboration with Savi, an industry leader in student loan and education benefits that empowers people to better manage their student loans and explore new education options. This collaboration enhances Voya’s existing student loan debt solutions, providing clients with additional tools to help employees effectively manage their student loan debt. Voya will offer many Savi guidance features at no charge to employers or their employees.

Savi’s student loan solutions complement Voya’s support of the SECURE 2.0 Act’s student loan match provision, which allows plan sponsors to make matching contributions to eligible retirement plans based on their employees’ qualified student loan payments. The provision aims to help support the retirement saving needs of individual workers and enhance their ability to save for a more secure financial future.

“Our research found that 42% of employees are more likely to stay with their employer if offered assistance to pay off their student loan debt,¹” said Amy Vaillancourt, president, Wealth Solutions at Voya Financial. “Financing an education and then being burdened with college debt upon graduation is a significant challenge, regardless of where you are in your career. We recognized this challenge early on and continue to work with our clients to provide a range of solutions and programs. One such solution is allowing employees to benefit from a plan sponsor’s matching contributions to their retirement plan based on their student loan payments. Additionally, our collaboration with Savi provides a flexible suite of solutions that enhances our current offerings, helping employees access retirement plans, participate more and achieve better outcomes.”

Savi* leverages cutting-edge technology and personalized one-on-one support to help employees manage their student loan debt effectively. Savi’s benefits include guidance for managing student loans, an administrative solution for employers who wish to contribute to their employees’ student loans, tuition assistance for employees pursuing further education, and student loan payment certification services for employers offering SECURE 2.0 student loan match programs.

Savi’s guidance solution incorporates a range of resources, including:

• A student loan dashboard that displays all loans and total balance in one place;
• A personalized repayment calculator to explore the impact of income-driven repayment plans on monthly payments and lifetime savings potential;
• Forgiveness-eligibility detection and a federal program enrollment guide;
• A chatbot powered by artificial intelligence to answer questions;
• Live educational workshops; and
• Personalized one-on-one assistance from Savi’s student loan experts available as an optional service for a fee.

“Balancing student loans and day-to-day expenses, while still saving for retirement and other key milestones, can be overwhelming and stressful,” said Aaron Smith, co-founder of Savi. “We applaud Voya for stepping in during such a critical time to offer their clients services that can have a life-changing impact on borrowers and their families. To date, we have helped borrowers find billions of dollars in education savings and look forward to helping even more borrowers reduce the burden that can come along with higher education. We’re thrilled that Voya chose to team up with Savi.”

In addition to Voya’s collaboration with Savi and support of the SECURE 2.0 Act’s student loan match provision, Voya’s financial wellness program focuses on educating employees on a wide range of topics, including saving for college and managing student loan debt. Together, these initiatives and resources aim to help improve financial wellness and create a more secure financial future for employees.

As an industry leader focused on the delivery of benefits, savings and investment solutions to and through the workplace, Voya is committed to its purpose of, together, fighting for everyone’s opportunity for a better financial future.

1. Voya Financial Consumer Insights & Research survey conducted Aug. 8-9, 2024, on the Ipsos eNation omnibus online platform among 1,005 adults aged 18+ in the U.S., featuring 440 Americans working full time or part time.

*Savi is a separate entity and not a corporate affiliate of Voya Financial (Voya). Savi pays Voya a fee for referring plan sponsors that elect Savi’s services. Voya also receives a referral fee when individuals access Savi’s services through a Voya entry point and subsequently elect Savi’s premium guidance solutions, independent of an employer-sponsored service offering.

About Voya Financial^®
Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with approximately 10,000 employees who are focused on achieving Voya’s aspirational vision: “Clearing your path to financial confidence and a more fulfilling life.” Through products, solutions and technologies, Voya helps its approximately 15.7 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya’s workplace benefits and savings offerings by engaging directly with approximately 11.9 million employees in the U.S. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by Ethisphere; a listed company on the Dow Jones Best-in-Class North America index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, Instagram, and LinkedIn.

About Savi
Savi is an industry leader in student loan and education benefits that empowers people to save money on student loans and explore new education options through its AI-driven platform and 1:1 expert support.

Since 2017, Savi has helped employees find $4.5 billion in student loan savings across 10,000+ employers, membership groups, and financial institutions.

Founded by longtime student loan experts and advocates Aaron Smith and Tobin Van Ostern, the public benefit company is backed by top investors, including Nyca Partners and Emerson Collective. For more information on Savi, visit www.bysavi.com.

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Media Contacts:
Olivia Valente
Voya Financial
(203) 528-5284
Olivia.Valente@voya.com

Source: Voya Financial, Inc.