New loan forgiveness program tools available soon

Education Minnesota’s partnership with the loan forgiveness program Summer is expanding.

As a member, you have free access to the service, which has already helped more than 470 Minnesota educators who had a total debt estimate of $8 million.

Based on the feedback of our members, Summer is now adding a loan consolidation tool.

Through Summer, members were able to get assistance in developing an income-driven repayment plan and submit for the federal Public Service Loan Forgiveness program.

Summer also can help members find out what savings programs they are eligible for, compare options side-by-side and help members enroll in programs – all online.

One of our Education Minnesota members is on track to save $884 a month by using the income-driven repayment plan, which will save him more than $80,000 on his loans overall.

Minnesota was the first state to roll out the program, in conjunction with the American Federation of Teachers. Members will need to sign in with their Education Minnesota member ID number.

To get started, visit Education Minnesota’s signup page at www.meetsummer.org/education-minnesota.