How SavvyFi works

Simple setup, easy gifting and many ways to save.

What Is SavvyFi?

A college education is often a big part of financial planning, but it can be difficult to figure out how best to save for it. We’ve created a simple financial platform that quickly sets up college saving accounts for any employer and their employees. With SavvyFi’s intuitive technology, your team can easily enroll themselves, a child, or a loved one in a 529 savings plan.

How We Help

Student debt is a $1.7 trillion problem. Yet, saving for college doesn’t have to be a chore with tons of paperwork and research. We’ve simplified the process, and added unique features like gifting and cashback rewards to make it even better.

Savvy features

Friendly Platform

Easy to use application makes signup simple for employees.


Intuitive dashboard relieves anxiety about future planning.

Friends &
Family Gifting

Loved ones have the opportunity to contribute to education expenses.


Shopping builds up savings at no cost to employees.

Mobile Friendly Platform

Planning Dashboard

Your employees can see their plan come together with SavvyFi’s intuitive dashboard. They can change their contributions, invite friends and family to send gifts, and track their progress. They can also choose a monthly savings goal that fits within their budget. They’ll always be informed about their savings and college costs.

Friends & Family Gifting

Your team can send a message with a special link to their friends and family to remind them of an upcoming birthday or if they want to celebrate a child reaching a goal or hitting an important milestone. Their loved ones can gift any amount and leave supportive comments that can be cherished for years to come.

Cashback Rewards

Help your employees put their saving on autopilot with our cashback rewards program. They can easily link any existing credit card to their account, and each time they shop at participating merchants, they get a percent of their purchase put into their 529 account. It’s quick to link and it doesn’t interfere with any current credit card rewards program.

Frequently Asked Questions

Who is SavvyFi?

Savvyfi is a digital investment adviser registered with the securities and exchange commission.

Our innovative technology makes it hassle-free and inexpensive for employers to offer college savings and student debt repayment benefits to their entire workforce.

What is a 529 account?

A 529 plan is an investment account that allows savings to grow tax-free if the funds are used for qualified expenses at eligible higher education institutions. Eligible institutions include four-year universities, community colleges, trade schools, and private K-12 schools. Qualified expenses typically cover most costs associated with attending school. Learn more at:

Who can open a 529 account?

Your employees can open an account for their children, grandchildren, nieces, nephews, and even the neighbor’s kid – as long as your employees have the future grad’s social security number.

Your employees with student debt can even open an account for themselves and use SavvyFi’s cashback rewards feature to pay down their debt more quickly.

How does SavvyFi work for Employers?

We send a contract for review and signature via email. Once the contract is digitally executed, we enable our portal for your employees. This process typically takes under an hour.

To help you launch the benefit, you have access to a toolkit with handouts, presentations, and videos to share with your employees

If you are providing contributions, we set up a simple ACH debit based on your payroll report.

Is payroll integration required?

No. Even if you are making contributions, we clear the aggregated payments through one ACH deduction once a pay period and provide appropriate reporting and an audit trail.

What is the typical participation rate?

The participation rate depends on many factors. Major factors include employer contributions and how the benefit is communicated to the employees. We have a toolbox to help you communicate clearly and efficiently to your employees about the benefit. For companies not providing contributions, the participation rate can range from 5-20%. For companies providing contributions, the participation rate can range from 10-40%.

Who does the training?

We offer a full suite of online resources, including email templates, handouts, presentations, and videos. We also have a dedicated employee help line that can handle individual employee issues. We also offer a real-time webinar and the webinar recording can be reused for employees that can not attend.

How much does SavvyFi's employee benefit cost?

$5 per enrolled employee per month.  There are no minimums, implementation, or advisor fees.

Is there a minimum number of employees?


How does SavvyFi work for Employees?
  1. Employees use their work email addresses to sign up for SavvyFi online.
  2. Employees provide basic information, then securely connect their bank account to SavvyFi for transfers.
  3. A 529 account is automatically opened for their first beneficiary. Employees can easily add more beneficiaries, with each beneficiary having their own account and gifting links.
  4. All contributions are automatically invested in an enrollment-date option, which selects investments based on the beneficiary’s age.
What if an employee's child does not attend college?

If the child does not attend college, there are many options for how the savings can be used. They can transfer the 529 account to another family member, use the funds for their own education, or withdraw the funds to give their child a head start on other important financial goals. If the funds are not used for a qualified education expense, they can use all the deposits without penalty, but the earnings will be subject to a 10% penalty.

What happens if an employee leaves the company?

When an employee leaves your company, their student loans and 529 accounts continue to exist.  Employees have the option to continue using the SavvyFi gifting and cashback features by assuming the monthly cost or discontinue using SavvyFi and access their loans and 529 accounts directly.

What if I don’t want to offer it to all my employees?

You can send us a list of approved employee email addresses and we can filter based on that list. 


What is the error message for someone not on the list? [ps1]

Do I have to provide a contribution to every employee?

No. As long as you differentiate by pay grade, position, or location, you can vary the amount of contributions. You are not allowed to discriminate across protected classes of people such as race,  gender and age. However, we always recommend you seek legal advice before setting up different contribution levels between employees.

Can an employer contribution for student loans be used for payment on a non-employee’s loans?

The tax-advantaged contribution for student loans has to be used for the employee. Per 26 U.S. Code § 127 - Educational assistance programs | U.S. Code | US Law | LII / Legal Information Institute ( However, contributions to 529 plans can be used to pay off any student loan.

Which contributions are tax advantaged?
  1. At the federal level, employee contributions to 529 accounts are after-tax but withdrawn savings used for qualified education expenses do not incur capital gains tax.
  2. At the federal level, employer contributions to 529 accounts raise the employee’s taxable wages.
  3. Employee contributions to student loans are always after-tax.
  4. Employers can make pre-tax contributions up to $5,250 annually towards an employee’s student debt if the employer has a section 127 plan in place.
Does SavvyFi have a mobile app?

No, employees access SavvyFi through a secure website, optimized for both mobile and desktop. SavvyFi performs just like a mobile app but does not require employees to download yet another app onto their phone.

Have questions?

Request more information.

Our expert team is on standby to answer any questions you may have about SavvyFi’s platform.