Case Study: Savi achieves 5x better loan-data connections and 25% more paying customers with Plaid

Savi helps borrowers enroll in loan forgiveness and reduced repayment programs

Savi, founded by Aaron Smith and Tobin Van Ostern, is a digital platform that helps borrowers identify loan-forgiveness and reduced-repayment options and today manages more than $400 million in student loan debt for tens of thousands of users who save about $150 per month on average. To determine eligibility and enroll users efficiently, Savi needed a reliable way to connect to all of a borrower’s student loans, so they integrated Plaid’s loan-data connection to pull account information from servicers like Nelnet, Navient, and Great Lakes.

Using Plaid, Savi now obtains complete loan data for 91% of users and sees users connect their loan information five times more successfully than with their previous provider; drop-off fell from 2.8% to 0.7%, and users who connect via Plaid are 25% more likely to become paying customers. These gains from Plaid’s integration have increased Savi’s conversion and enrollment efficiency, helping more borrowers access forgiveness programs and reduced payments faster.

Savi

Tobin Van Ostern

Co-Founder