Our year in review
Our year in review
This year more than any other, borrowers looked to Summer for guidance, a financial lifeline, and even renewed hopes for loan forgiveness. With your support, we delivered on that promise. Read on for our year-in-review.
It's all thanks to you
By the numbers
$2.3
B
Total debt handled
That’s billions. This number represents thousands of individual borrowers, each with their own financial hopes and dreams.
$17.2
M
Total borrower savings
Our claim to fame? Savings. Think of this number as our scorecard, and we believe we’re doing quite well.
$2,319
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.
$56,019
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
Borrower savings spotlight
Nicole W.
Nicole W.
"Tens of thousands of our members are using Summer, putting them on track to an average of $180/month and $57,000 in lifetime savings via income-driven repayment plans and Public Service Loan Forgiveness. Summer’s team has made launching this tool easy for everyone, and they are quick to collaborate with us on new creative solutions to help our members save money."
Alyssa Picard, Director, American Federation of Teachers
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.
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.
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.
Summer fun, all year round
A league of our own
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Karishma's top tips
How should I plan for 2022?
What’s the deal with spam calls lately?
How can I navigate loan servicer changes?
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.
