There are some clients who landed in a difficult debt situation because they were not fully aware of what they were doing.
Philadelphia, PA (PRWEB) May 20, 2013
Debt Consolidation USA will boost their efforts in helping women and minorities as reports surface that they are struggling with their finances because of too much student debt. In the next few months, the company will try to provide information and articles on their website and other affiliate sites about how these groups can cope with their debt situation.
In the beginning of May, US News published an article entitled “How Student Debt Affects Women, Minorities.” The publication cites various reports from different organizations regarding the current plight of women and minorities in relation to their finances. Here are some of the notable reports:
1. American Association of University Women reports of the pay gap between men and women. Graduates of 2007-2008 and employed by 2009 earned the following salaries: women ($35,296) and men ($42,918). This indicates that women use a higher percentage of their salaries to pay off debt.
2. Campus Progress and Center for American Progress reports that of the people owing more than $30,500 in debt, 27% are black degree holders while 16% are white degree holders. Comparing the two once more, 69% of black students leaving school because of debt is higher than the 43% of white students. The same report also states that 74% of Latinos did not go to college because of financial reasons. This affects the rate of unemployment and repayment capabilities for minorities as compared to the white student population.
3. National Journal reports that a lot of immigrant parents do not trust banks - which leads them to not get loans from these banks.
Debt Consolidation USA also notes that the article indicates lack of debt education that oftentimes lead minorities to make the wrong decisions about their financial choices. Because of the extensive experience of the company, they have observed that there are some clients who landed in a difficult debt situation because they were not fully aware of what they were doing.
This is the same assumption stated in the US News article. It states that some people borrow from private lenders - unaware that there are federal loan alternatives that provide borrower protection.
Debt education is a strong advocacy of Debt Consolidation USA who pushes to educate their clients about debt relief. It is with this intention that they want to reach out to women and minorities to help them cope with their financial troubles. While the debt relief company cannot help directly with student debt, they can provide assistance with another type of debt plaguing the American society: credit cards. That and adequate debt education results in a somewhat formidable weapon against debt.
Find out more about debt education and debt relief by visiting the Debt Consolidation USA website or calling 1(877)610-6990.