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This New Program Will Pay$75,000 Of Your Student Loans
Source Date:
Thursday, February 7, 2019
Categories:
There's a new student loan repayment program - and it can help you repay student loans to the tune of $75,000.
Here's what you need to know.
New Student Loan Repayment Program
This new student loan program helps attack two epidemics in the U.S.: student loan debt and opioid addiction.
Student loan debt is now the second highest consumer debt category - second only to mortgages and higher than credit card debt. According to personal finance site Make Lemonade, there are more than 44 million borrowers who collectively owe $1.5 trillion in student loan debt. The average student in the Class of 2016 has $37,172 in student loan debt. The average student in the Class of 2017 has almost $40,000 in student loan debt.
Every day, according to the U.S. Department of Health and Human Services (HHS), more than 130 people die due to opioid-related drug overdoses. In 2017, HHS declared opioids a public health emergency. Approximately 2 million people have an opioid use disorder and 47,600 people have died from overdosing opioids.