Financial Aid & Student Loan Debt
Helping students get funding and scholarships and work to reduce or manage their student loan debt
What is financial aid and what is student loan debt?
Financial aid is money provided to students and families to pay for educational expenses. This includes grants, scholarships, work-study, and loans. Financial aid can help cover costs associated with tuition, books, living expenses, and other educational-related costs.
Student loan debt is a type of debt incurred by students when they borrow money to pay for their post-secondary education, typically in the form of loans. It is a problem because it can be difficult to pay back, especially for students who are unable to find a well-paying job after graduating. The interest rates are often high and loan payments can be a significant financial burden for many graduates.
Because loan providers sometimes have predatory tactics and loans can be a significant financial burden, Tech Jobs for Good generally does not approve loan providers as 'for good’ organizations unless they can substantially demonstrate how they create a positive impact.
How is technology being used to improve financial aid and lower student loan debt?
Online applications and services are making it easier for students to discover, apply for, and access financial aid. Technology is also being used to create specialized tools to help students calculate their cost of college and understand the true cost of their loans. There are also companies and organizations leveraging technology to offer income-driven repayment plans and advocate for loan forgiveness programs.