The stats are sobering. Total student loan debt in the United States is over $1.6 trillion. That's more than all of American credit card debt, and nearly as much as credit card debt and auto loan debt combined. Graduating American college seniors have an average student loan debt of nearly $30,000, not including loans taken out by the parents of students. Jubilee USA works to change these statistics by bridging religious, political and generational divides to promote responsible student lending and borrowing and stop predatory student loan and debt collection practices.
On July 1, 2013, student loan interest rates were set to double for almost 7 million college students. The year prior, when Congress was about to double the interest rates on students, 45 Jubilee faith communities prayed, acted and stopped the increase. In 2013, over 60 religious communities across the nation joined us in prayer to stop the increase. In 2015, we held our largest Jubilee for Students Weekend to date.