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by James Robert Lay on June 14, 2022
Brief Summary of Episode #201
Student loans have become synonymous with financial stress.
Once considered a golden ticket to higher education, this debt afflicts 46 million Americans with overwhelming anxiety.
And many of them are scrambling for help.
Bobby Matson believes that help exists - most people are just looking in the wrong places.
But the founder and CEO of PayItOff says that’s through no fault of borrowers. Instead, he argues that a complex system has made it difficult for the average person to understand where they can go for assistance.
In a twisted sense of irony, a lack of financial literacy has left an absence of clarity in the student debt space.
Yet, Bobby thinks opportunities exist for financial services to help their customers free themselves of economic desperation.
We discuss what specific roadblocks prevent borrowers from seeking outside help and what they can do to avoid them.
We also talk about how employers have been affected by this crisis and what they can do to help their workers escape it.
Join our conversation to learn what resources exist to free graduates from the mental strain of student loans.
Key Insights and Takeaways
- Common roadblocks preventing borrowers from moving forward [3:12]
- Opportunities for the workplace to assist indebted employees [13:53]
- Steps servicers can take to help relieve their constituents’ financial stress [23:41]