New site offers a refreshing way to take the heavy weight of debt off young people’s shoulders.
In this day and age when leaving university, students are on average, in over $40k in debt and have to dish out around $500 a month as soon as they enter employment. As a whole the country is in an astonishing $1 trillion in debt due to the increase in interest and the amount of loans themselves.
Enter Zero Bound, a service that helps students and alums pay off their college loans in a completely beneficial way by volunteering. The project is a unique combination of volunteering and crowdfunding and works by getting companies that would benefit from volunteers on board and donating a small amount for each project. Students set a 30-day crowdfunding and volunteer goal (i.e. I want to raise $500 and volunteer 30 hours next month) and raise funds for 30 days from personal contacts, while Zero Bound also help bring in additional sponsors. Users can sign up for community service tasks of their choice on the Kickstarter-like site such as Habitat for Humanity.
Zero Bound has already had much success, and with the tag line ‘ You are not a Loan’ we’re sure this project is going to be somewhat of a breath of fresh air for former students today.
Watch the video below: