Student loan debt can be soul crushing. You go to school to get a great education, only to come out dragging a ball and chain of debt with you. I speak to Millennials all the time who tell me how student loan debt impacts their ability to go to graduate school, get married, buy a car, buy a house, or start a family.
Readers of my blog are aware that student loan debt has ballooned into a serious problem. According to the Institute for College Access in Success in a 2012 study, 45 percent of U.S. households are paying off student loans and the total loan debt has reached $1.2 trillion! That’s a 500% increase over the last decade and 250% increase since the 1980s. That means that every year 1.3 million students graduate from college with debt which represents 71% of all students and they average $30,000 each in debt.
It’s Time to Shed Your Student Loan Debt!
I’m always trying to help my readers by providing them with the info they need to help pay off their student loan debt, so when I heard that Liberty Bank for Savings was sponsoring a free webinar to help you reduce your student loan debt, I knew I had to tell you about it.
The 45-minute webinar, entitled Wipe Out Student Loan Debt will be led by Laura La Belle, a noted certified financial planner and money coach. It can be viewed on computers and smartphones on Wednesday, October 14 at 7pm (ET).
• new debt repayment programs
• how not to default on your student loans
• how to avoid garnishment, liens and tax levies
• how to evaluate payment reduction programs
• how to use debt forgiveness programs to make your debt disappear
• how to avoid scam artists who are preying on student loan borrowers.
So, basically everything you need to know about paying off your student loans.
According to Kevin Tynan, the Senior Vice President of the bank, “Former students across the country hold an average debt load of nearly $30,000 making college loans one of the biggest sources of debt-related stress. Americans only owe more on home mortgages. By offering this webinar to help people deal with this growing problem, we seek to help real people deal with an issue that is putting increasing pressure on American families.”
Liberty Bank of Savings
Liberty Bank of Savings is a bank with a long history and one that makes me proud as someone who is 50% Polish (I know, I know ‘Reaume’ does not sound Polish but my mom’s family is Polish). It was started by members of the Parish of All Saints Polish National Catholic Church who decided that they wanted to help their neighbors with home loans.
For the past 117 years they have been providing innovative banking services. While Liberty doesn’t offer college or commercial loans, they provide these free money seminars as a community service. That’s pretty cool!
Sign Up for the Webinar:
If you’re interested in signing up for the webinar online you can do so here. If you’re interested in supporting a great community focused bank and you live in the Chicago area, consider becoming a customer! They have three three northwest Chicago locations including 2392 Milwaukee Avenue, 7111 Foster Avenue, and 6210 N. Milwaukee Avenue, plus one in Lincolnwood at 6666 N. Lincoln Avenue and 1018 Touhy Ave, in Park Ridge.