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Launching a Text Message Intervention to Assist Student Loan Borrowers with Repayment Decisions
Author(s) -
Johnson Carrie L.,
Bartholomae Suzanne,
Serido Joyce,
Katras Mary Jo,
Tobe Erica
Publication year - 2020
Publication title -
family and consumer sciences research journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.372
H-Index - 31
eISSN - 1552-3934
pISSN - 1077-727X
DOI - 10.1111/fcsr.12349
Subject(s) - student loan , intervention (counseling) , loan , debt , business , process (computing) , finance , psychology , actuarial science , computer science , psychiatry , operating system
Student loan debt has become a financial burden for many young adults in the United States. Previous research has found that many college student borrowers do not understand repayment terms and options. This multistate collaboration among Cooperative Extension Specialists sought to develop a way of supporting and informing recent college graduates on the process of student loan repayment. Text messaging was used as the intervention strategy. The purpose of this article is (i) to explain the process and methods of developing the student loan repayment text messaging campaign and (ii) present suggestions for someone interested in launching this type of intervention. Also, the article provides initial participation numbers across the nine land‐grant universities that were participants in the intervention.