The Thing
Scholarships and Educational Awards are brilliant.
Their purpose is to promote education. So how has our country ended up with crisis levels of Student Loan Debt?
In an era where Student Loan Debt is only outpaced by mortgage debt, we found a disconnect between some scholarships and how deep a student gets into debt during their college years. Before a decade ago, scholarships were a feasible way to support education. Presently, the average college graduate is burdened with around $40,000.00 in Student Loan Debt. Statistically, the positive impact of a scholarship is long gone when a student graduates from college. This debt is gesticulating as the next major US financial crisis. It is time to change this troubling trend by rethinking and redistributing educational scholarships and awards.
Volunteering for loan forgiveness is not a new concept. The United States government has been doing it with various well known programs for many years. We expand upon their programs and bring that same type of loan forgiveness to the masses because of perilous student loan balances in America.
Our program allows debtors to volunteer for the hand that feeds them. For instance, your staff may volunteer for a work project on Saturday and fringe benefit money from our fund would pay their student loan debt down directly. Strengthen your organization with resources you already have delegated while solving an enormous issue facing the workforce and our economy.
The Case
$1.6 trillion in student debt.
44 million debtors.
The problem is cross-cultural and spans most income levels.
Who We Are
CreditClassroom.com (CC) is a 17-year-old financial technology company that administers student loan repayment assistance programs. CC's mission is to practice “customercentricity" and be steadfast in the goal of paying down student loan debt. We match student loan debtors with principal loan balance paydown opportunities.
The Consumer Financial Protection Bureau released a report in August 2017 with the title "Emerging Student Loan Repayment Assistance Programs". Our program is a response to their report and gives options on how all can benefit moving forward.
Paydown Programs
Our Volunteer Paydown Program enlists volunteers to earn principle loan balance paydown on their student loans through our fund in a simple, no nonsense way.
A unique attribute of our program enlists debtors who are already volunteering by rewarding them for their ongoing support of our communities. Subsequently, they promote and help manage this fund in recognition of your contribution to them.
What We're Asking
Our fund is not asking anyone to give more money. We are asking scholarship and other donors to reapportion part of what they already give (a suggested 10% or minimum $500) to our Volunteer Paydown Program fund. When a portion of a scholarship or educational award is redistributed to our fund, it remains there until a grantee chosen by you performs volunteer work to earn it.
How it Works
Our proprietary software and system administers volunteerism by matching volunteers who carry student loan debt to approved organizations who need help.
After volunteer work is completed, a detailed report indicating how fund proceeds were used and how they helped improve the community is provided to the donor. We are the first company to offer detailed metrics on the results of how scholarship and other money benefits both volunteers and the community while paying down student loan debt. This type of reporting can be used to determine future distribution decisions and reveal other valuable opportunities.
Recipients of student loan paydown never have direct access to money. Money is always applied directly to student loan balances.
Ongoing Solutions
Our fund has a wealth of additional benefits. Even if you don't use our company as a solution, please send any inquisitive student loan debtors to us. We will engage them at no cost to find a solution. We have pro-education solutions to excessive student loan debt!