A recent SoFi member survey suggests that over a third of millennials have lost sleep over their student loan debt; 15% have sought care from mental health professionals because of student debt anxiety
On the heels of the end of most new college graduates’ student loan repayment grace period, SoFi today announced its first-ever Refi and Relax campaign, which aims to educate graduates on their refinancing options as a way to relieve the overwhelming stress that comes with carrying student debt.
We were lucky enough to be invited along to their event in New York where we got to see and experience what it REALLY felt like to relax after taking control of your finances.
“We hear everyday from people with student debt that it feels like an anchor weighing them down from achieving other goals,” said Joanne Bradford, chief marketing officer of SoFi. “There are millions of people who could take advantage of refinancing their student loans to lessen their burden that just don’t even know it’s an option for them.”
Student loan debt is a large source of anxiety and stress for many young Americans. According to a recent SoFi member survey of over 1,200 respondents, eighty three percent shared that they’ve felt like they couldn’t relax due to the burden of the debt. Fifty percent of people dealing with student loan debt reported feeling anxious and/or depressed, and fifteen percent of respondents went so far as to talk with a mental health professional about the stress of their student debt.
Over a third of respondents have reported losing sleep due to student loan debt. Seventy five percent of respondents shared that they would give up social media if it meant their student loans would disappear. Forty percent of respondents said they would stay at a job that they hate because of student loan debt. Another twenty percent are willing to take even more dramatic measures by sacrificing a finger or toe in exchange for erasing their student loans.
At Boss Babe, we really believe that you CAN take control your own financial situation, and this starts with getting real advice and taking action.
Relax and Refi in New York was hosted exclusively for those who recently refinanced their loans. Relaxing wasn’t taking a group yoga class, but in fact indulging in some serious self love.
I’m talking manicures, playtime with puppies, giveaways and A DONUT WALL.
…oh, and like, a LOT of wine.
If you are looking to chat with someone about the best way to proceed with student loan debt, it could be worth speaking to an expert at SoFi. We got to see first-hand just how much refinancing has helped a lot of Boss Babes and if means taking the stress of you so that you can focus on your goals, surely that’s a great thing?
Hopefully we’ll see you at the next one!