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startingtrends
05-13-2014, 10:29 PM
Most of us have either been riddled with student loan debt ourselves or know someone who has. It’s no secret that the student loan crisis continues to get worse in Canada, the United States and other countries around the world. It has become a situation that is so far out of control that it simply cannot be ignored any longer.
The Problem?

Sen. Elizabeth Warren recently stated the following in a CBS News interview:


because of student loan debt young people are living at home longer with their parents, their not saving up for down payments on homes, they’re not buying homes, they’re not buying cars, they’re not saving for retirement, they’re not starting small businesses, they’re not doing the things economically that we would expect them to do all because of the weight of student loan debt.
This will continue to effect the future of the entire economy if we don’t do something about this now.

If the numbers and reaction are any indication of how widespread this problem is, at the time of writing this over 26,000 people liked Sen. Elizabeth Warren’s points regarding student loan debt on her Facebook timeline.

Now instead of simply liking a story line people can actually crowdfund to help offset some of their tuition costs which can have a positive financial impact on that student and the entire economy immediately. We don’t need to wait for new laws to pass or for student loan interest rates to decrease we all just need to educate ourselves on crowdfunding.

student-loan-debt-crisis

According to an article on Wikipedia:


With $864 billion in federal loans and $150 billion in private loans, student debt in America now exceeds $1 trillion. There are around 37 million student loan borrowers with outstanding student loans today.

That is in the United States alone. In Canada, college graduates are faced with an average of $28,000 in student loan debt by the time they finish school and to make matters even worse it takes an average of 14 years to pay that debt back due to high accumulated interest fees.

On top of that, with the job market the way it’s been the past couple of decades or so more than half the population of student graduates continue to face difficulties when it comes to finding work in their educated field of choice once they’ve earned their diploma.

The Solution?

Fortunately, there is light at the end of the tunnel. What exactly is the solution to getting out of student debt or avoiding student loan debt all together?

It’s Crowdfunding.

See full article: Crowdfunding Pays For Students Tuition and Leaves Graduates Debt Free! (http://www.crowdfundingroadmap.com/crowdfunding-pays-for-students-tuition-and-leaves-graduates-debt-free/)