Our year in review

At Summer, our mission always comes back to helping borrowers. Looking back at 2021, we are proud of the impact we’ve made in a year that was full of change. Read on for the highlights.

Blue outlined cloud shape on a white background.

By the numbers

$3.4

Total debt handled

That’s billions. This number represents thousands of individual borrowers, each with their own financial hopes and dreams.

$3.85

Total borrower savings

Our claim to fame? Savings. Think of this number as our scorecard, and we believe we’re doing quite well.

$2,238

Average annual borrower savings

Borrowers see meaningful savings, opening doors to life-enhancing areas like being able to afford a mortgage or build a family.

🌴 That’s a mortgage payment (or 248 piña coladas!)

$70,389

Average projected forgiveness

Public service borrowers are finally receiving the forgiveness they deserve, faster, with the limited PSLF waiver. Sweet, sweet forgiveness.

“2021 was a year of great uncertainty for student loan borrowers. I am proud of Summer for serving as a source of truth and a lifeline for so many people in need of repayment assistance. As we reflect on a year of change, we want to thank every borrower we've helped and our many partners for trusting us with their plans for a debt-free future. Looking ahead to 2022, we have set our sights on achieving $1 billion in loan savings for borrowers. Onward and upward!”

Will Sealy, CEO and Co-Founder

Abstract dark green palm leaves with cut-out slits on a white background.

Scaling successes

128% borrower growth

The real reward of 2021? Seeing more borrowers, each with their own financial goals and stories, get the savings and forgiveness they deserve.

Colorful illustration of six diverse people with various hairstyles, facial hair, and clothing styles.

Illustration of seven light blue paper airplanes flying in various directions with green and pink dashed trails on a white background.

158% increase in submissions

With new borrowers come new form submissions. This year, Summer helped more borrowers cross the forgiveness finish line by making submissions simpler with technology and a human touch (namely, our Borrower Success team).

Our team grew and grew

What does it take to scale a team? A whole lot of coffee, a supportive environment and vibrant company culture. As the team grows, our commitment to borrowers is stronger than ever.

Chalkboard with various mathematical diagrams and formulas including graphs, a right triangle labeled a, b, c, an equation with variables and squares, and a cube sketch.

Greater integration options

After years of building a leading digital platform, this year marked an expansion into integrated options including an API suite and widgets. Tech talk aside, this means more possibilities for more organizations to unlock savings for those they serve.

Dark green asterisk symbol with rough, textured brush strokes on white background.

Summer fun, all year round

Man proposing on one knee to woman in front of the wrapped Arc de Triomphe with people in the background.

Spectators wearing blue caps watching a baseball game in a stadium on a sunny day.

Group of six friends sitting around a wooden picnic table under a large umbrella, smiling with takeout food containers and drinks on the table.

A league of our own

😅 3 loan policy changes

🚀 4 new APIs

⚾️ 18 team events

🤔️️️ 134 perplexing acronyms

👏 Most common emoji

💻 1100+ commits to our codebase

Group of people smiling and posing together in a warmly lit bar decorated with holiday lights and festive ornaments.

Black and white cat sitting on a desk in front of computer monitors with code displayed.

From left to right, a few moments from the past year: A spectacular proposal in Paris, team excursion to see the Cyclones, celebration in Koreatown, holiday party, and Jane (the cat) overseeing all.

Blue outline of a cloud shape on a white background.

Smiling woman with long dark hair wearing a dark top against a light background.

Ask a student loan expert:

Karishma's top tips

How should I plan for 2022?

Federal student loan payments resume in February, which means individuals and businesses should start plannning today. And for those navigating PSLF, the limited waiver period ends next October.

What’s the deal with spam calls lately?

My team hears about spam calls (and texts) daily! Send Summer a note to verify student loan calls that sound fishy and always contact your servicer directly.

How can I navigate loan servicer changes?

2021 was a major year for servicer closures, affecting millions of borrowers. Be sure to download all documentation related to your loans so you’re covered no matter what.

To borrowers, from borrowers

$10,000

We're supporting the Thurgood Marshall College Fund this season

This year, instead of our usual holiday greeting, we're donating to a worthy cause. It's our way of giving back after another great year, and we couldn't have done it without our incredible partners and borrowers.

Handwritten text saying 'Happy holidays & cheers to 2022!' on a white background.

Help us help more borrowers save

Interested in offering Summer as an employee benefit or integrating our technology into your product offering? We’re here for you! Schedule a no-obligation demo to learn more.

Request a demo

Magnifying glass focusing on multiple pink dollar signs with colorful sparkle accents.

Are you a borrower looking for student loan relief? We can help. Nominate your employer or local government to partner with Summer.

Simply email details, including an HR or benefits contact, to hello@meetsummer.org and we’ll take care of the rest!