Ivy League Grads Launch Website Asking Public For Help in Paying Off Their Student Loans

Pay Our Student Loans is a website geared towards helping college graduates pay off their student loans.

New York, NY (PRWEB) February 1, 2005 --- What do you do, when your student debt is higher than the annual median income for a family of four, your monthly loan payment is equivalent to a mortgage payment, and your paycheck's appearance in your bank account is essentially a pit stop between you and your creditors? You could just give up. Or if you're Susan Maloney and Kendra Pierre-Louis of New York City, you could fight back. You could ask total strangers for help paying off your student loans. You could compile information paying down student debt, avoiding student debt, and saving for college, and you could do it all from your own website: Pay Our Student Loans.com (www.payourstudentloans.com).

The stats on student loan debt are depressing. According to student loan lender Nellie Mae, of the 64% of college students who graduate with student loan debt, the average undergraduate debt is $18,900 up 66% from $11,400 in 1997. Nicknamed the ambition tax, this debt load punishes those with the intellect and the energy to achieve, but without the deep pockets to fund a quality education. As detailed in the Demos research paper Generation Broke by Tamara Draut and Javier Silver "Rising costs combined with reduced federal grant aid, slow real wage growth and skyrocketing college debt have eroded the economic security of todays young adults."

These statistics underscore the reality that Pay Our Student Loans hopes to hi-light -- that a college degree though once a ticket to steady pay and quality work not only no longer provides that guarantee, but also because of its increasing price tag in combination with a constant reduction of federal aid, makes establishing a secure post-college foundation difficult. While all parts of the website are free to access, money raised on the site goes towards paying down Susan and Kendras loans, as well as towards the creation of a scholarship which will help other college graduates pay off their student loans.

The site also serves as a one stop shop where visitors can learn information on how to avoid student debt (information which Kendra and Susan wish that they had known), as well as perhaps the largest accumulation of information form diverse sources.

Whether you need to research student loan debt, or just find what we're doing intriguing please don't hesitate to contact us at Pay Our Student Loans to see how we're doing on paying down our student debt, how our scholarship is going, or to just get the latest information on the world of student loans.

For information: http://www.payourstudentloans.com or

Contact: susanandkendra@ecoisp.com

Phone: 917-750-6769

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