THE REALITY OF STUDENT DEBT IN AMERICA
- “Student debt in the US is now bigger than debt from credit cards and auto loans, and is second only to mortgages.” – John Oliver
- “Nationally, some students are strapped down by as much as $100,000 in student loan debt. The $1.2 trillion in outstanding education debt is more than the rest of the world’s student loan debt combined.” – studentdebtcrisis.org
- “The cost of a college degree has risen by 1,120% since 1978… As a result 7 million Americans are in default on their student loans, meaning they are more than 270 days late on a payment.” – Matthew Segal of CNN
WHAT IS THE ROSE CITY STUDENT FUND?
It is a fund that aims to combat the student debt crises in a community fashion. The RCSF is a Community Foundation managed by Rose City Church to end student debt. Each year the leadership team will distribute 5% of the income to the students that intern at the church. It is important that this fund grows by both investment performance and contributions – this will allow for greater distribution among a larger group of people.
HOW DOES IT WORK?
Simple Answer: Intern at Rose City Church and in return the RCSF will pay off a portion of your student debt.
In one sense it’s like a paid internship (if you need one for school) if not, it’s a nice way to give back to your local church and for the church to do the same to you.
Intern at Rose City Church
Have student debt
Learn about financial management
Join the team
Help with communication
Assist with administration
One time or continued monthly support
Make a check out to Rose City Church and put Student Fund in the subject line
Donate online at rosecitychurch.org/give person: stop by the church or arrange a time to meet with anyone on the RCSF leadership team
In person: stop by the church or arrange a time to meet with anyone on the RCSF leadership team
Not taking our loans isn’t an option for our three person, one income family. With a full time graduate student, a child with significant medical needs and doctors appointments 3-4 times a week, it’s not a question of “will we take out student loans” but rather “how much student loans will we take out.” We have to concern ourselves with the present, but can’t help but wonder what the future will be like with the amount of student debt we have accumulated.
As a kid I was told I could do or be anything I wanted when I “grew up.” I took my family seriously and now have $100,000 in student debt. I’m still adding to that number too. Should I keep pursuing the career I’ve always longed for or do I need to take a step back and examine the fact I have $100,000 in student debt?
Starting a family, owning a home; these are only some of the dreams that have to be put on hold for a family who pays $1,600/month towards their student loans. “If I wasn’t a nurse I don’t know how I would survive… I’m blessed to have a career [as an RN] that pays me enough to provide for my family… other students haven’t been so lucky and are barely making it.
THE LEADERSHIP TEAM
Dan Davidson – Executive Director
Morgan Shoup – Project Coordinator
Tony Valazza – Financial Consultant
Jack Biodolillo – Board Member
The Rose City Student Fund is made possible by the generosity of Thrivent Financial. Thrivent Financial is an organization that helps Christians be wise with money and to live generously. To learn more about Thrivent Financial visit their website at www.thrivent.com