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SPOKANE - As a gesture to show that the outstanding student loan debt in America is a problem, a local credit union is offering to help erase some of that debt. On Monday, Numerica Credit Union announced that it is offering two $2,500 scholarships for those who are battling student loan debt after their completion of an Associates, Bachelor’s, or Master’s degree. The national student loan debt level has reached $1.6 trillion dollars according to the Federal Reserve.   

“The burden of student loan debt is a common challenge amongst our members – often impacting their financial wellbeing or ability to take meaningful steps in life like purchasing a home or saving for retirement,” said Kim Pearman-Gillman, senior vice president of corporate and community relations at Numerica. “We are committed to addressing this impact through financial counseling as well as this new and relevant scholarship.”

Requirements for the student loan repayment scholarship include:

·         Being a Numerica Credit Union member in good standing

·         Completion of a degree

·         Not having received one of Numerica’s previous scholarships

·         Must be a Federal Student loan

·         Cannot be a Parent Plus loan

Applications for the loan repayment are due by November 30.

To date, Numerica has given more than $85,000 in student scholarships. However, this is the first year it has offered an award to those who have already completed a degree.

“Numerica never wants student loan debt to overshadow the time and talent people put into getting a degree. Planning, preparing, and only taking what you need in loans are important steps to minimize debt while you’re in school. This scholarship is an opportunity for Numerica to assist our members’ in repaying their student loans,” Pearman-Gillman emphasized.

Numerica Credit Union is based in Spokane with branch locations in Wenatchee, East Wenatchee and Entiat.

(2) comments

EducatedAmerican

This is fine if they want to use their own money to give to the student. But for a nation wide bailout, forget it. Student loans are a contract and the student, along with their parents, should have been aware that one has to pay it back. The students all have cell phones on a contract, most have car loans on a contract and most parent have home loans. I have read and heard on the news that students are saying that they did not understand what they were signing or that they can't find a job now to pay back the load as scheduled. Too bad. I know of 2 different individuals with the same Engineering Degree. Both from Moses Lake. One went to WSU the other went out of state. Both work for the same company doing the same job. The WSU grad. has already paid off his loans, the other guy still has mid 5 figures to go. You get killed on out of state tuition. I know of another individual that took a job in her graduated field and her employer pays 15% of her student load each year for 5 years. ( plus her salary ). Myself, wife and 2 kids all paid for college by working part time, scholarships, grants. NO LOANS. It wasn't hard to save money. And when you paid for it yourself, you took classes that mattered. Not the liberal crap some kids take in college today.

emilia-sword

ok boomer

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