Student loan debt as we know it is a huge amount of money that this generation has borrowed in order to afford to go to college. This explosion started in the late 1990s and has grown to Americans owing over $1.71 trillion in student loan debt, spread out among about 44.7 million borrowers. That is over 10% of the total population in the predicament.

The amount of debt would not be so alarming if the repayment rate held up however the Department of Education reports that the typical repayment period for borrowers with between $20,000 and $40,000 in federal student loans is 20 years, and a 2013 study of 61,000 respondents conducted by One Wisconsin Institute found that the average length of repayment for student debt borrowers is 21.1 years while the average loan amount on graduation day is $37,500 at 6% interest rate.

At TUKOLE, it is our mandate to figure out why our community is in this situation and how we can help to not only stop the bleeding but to also help the future generation to avoid the same pitfalls in this arena.

GOAL

End student loan debt in our community

OBECTIVE

To achieve an individual road map to reasonable repayment and seek methods of loan forgiveness.

STRATEGY

Educate members on income driven loan repayment

Manage repayment reminders

Seek donation funds towards grants for loan repayment

Seek and create income boosting opportunities and smart investments for members

Donate

Featured