Paying down college debt; student loan help - aarp bulletin

Aarp

Paying down college debt; student loan help - aarp bulletin"


Play all audios:

Loading...

LILY'S LIST Illinois mom Jennifer Taylor was shocked to discover that her daughter Lily, a sophomore at the University of Iowa, could face as much as $20,000 in student loan debt after


graduation. "When I showed her the numbers she could be responsible for, she was horrified" too, says Taylor, 54. Necessity again proved to be the mother of invention, and


Lily's List was born. It's a website designed to make it easy for loan-reducing donations to flow. An indebted student or graduate registers at Lilyslist.com, paying a $15 annual


fee. Helpful friends and family members can then make donations at the site, which channels the money directly to the student's loan account. Donors are charged a $2.75 transaction fee


for each use. Lily's List sends students e-mail notices when gifts are made on their behalf, says Taylor, who's working with three other mothers to hone and perfect the site. One


of the advantages of the program, she says, is that the donor's gift goes toward reducing a student's debt, not to fund a purchase of an iPhone, latte or anything else.


"It's a very heavy thing for these young people to be facing at a young age," says one of Taylor's associates, Beverly Gibson, 54, whose two children will be


college-bound in a few years. Lily's List interests Boston University business management major Severine Cukierman, 19, who estimates she'll be facing $20,000 in student loan debt


after graduation. "I definitely want to look at anything that will help reduce my load," Cukierman says. UPROMISE Upromise.com wrings debt pay-down from everyday purchases such as


groceries, gasoline and clothing. Owned by Sallie Mae, the site has more than 750 participating merchants that designate anywhere from 1 percent to 25 percent of the price of things you buy


from them toward a student's educational loans. "Family and friends can participate on behalf of any beneficiary they choose," Upromise spokeswoman Debby Hohler says.


"Every time they book a flight, rent a car, go out to dinner, book a hotel, they can be getting money back that can be used to help pay for college." Upromise has 12 million


members and has funneled roughly $600 million toward student debt since 2001, Hohler says. _Blair S. Walker is a Miami-based writer._


Trending News

Prisons are 'in crisis' government tells leicestershirelive

England's prisons are “in crisis”, the Ministry of Justice (MoJ) has told LeicestershireLive. The government depart...

User account | Georgia Straight » Vancouver’s source for arts, culture, and events

Username * Spaces are allowed; punctuation is not allowed except for periods, hyphens, apostrophes, and underscores. E-m...

CIRCADIN 2 mg cp LP - VIDAL

Les données non cliniques issues des études conventionnelles de pharmacologie de sécurité, toxicologie en administration...

Review: michael cristofer explores loneliness and autism in subdued ‘the night clerk’

The theme of loneliness that informs much of Michael Cristofer’s film and stage work is very much in evidence in “The Ni...

I have to work on my lapses in concentration, says murali vijay

Murali Vijay came into national reckoning in the 2008 home series against Australia. His chance came as a result of a on...

Latests News

Paying down college debt; student loan help - aarp bulletin

LILY'S LIST Illinois mom Jennifer Taylor was shocked to discover that her daughter Lily, a sophomore at the Univers...

José padilla, ibiza dj who defined chillout music, dies aged 64

José Padilla, the Spanish DJ who helped define chillout music in the 1990s, has died aged 64 from colon cancer. An updat...

Storm brian path update: weather bomb set to batter the uk tomorrow

“These are expected to coincide with high tides, leading to locally dangerous conditions around the coast. "This wa...

Coach of tennis player disqualified for mid-match shower speaks out

The coach of Nicolas Moreno De Alboran, an American tennis player who was disqualified from the ATP Challenger tournamen...

Meghan markle and prince harry opt for 'booming' trend with baby name

The Sussexes announced news of the birth on Sunday afternoon, revealing that Meghan and Lili are now both recovering at ...

Top