Debt-Free Future: Student Loan Coaching for Financial Empowerment

About the Program

Category: Human Services (Best in Category)

Year: 2023

In the fall of 2020, the Biden-Harris administration began publicly exploring new student loan forgiveness and repayment options to address complications and failures in the system that lead to the current student loan crisis. Recognizing the lack of regulation and transparency in the student loan industry and the long-term impacts of student loan debt on financial stability, the Personal Finance Program of Boulder County created the Debt-Free Future: Student Loan Coaching for Financial Empowerment campaign. The campaign consisted of three parts: internal training, campaign outreach, and individualized personal finance appointments. The purpose of the initiative was to provide approachable access to federal student loan debt relief with a financial coaching component in order to improve financial confidence, reduce financial stress, and increase stability. The campaign has resulted in $1.3 million dollars in federal student loan forgiveness for our clients and colleagues to date.