Do you know someone who has student loan debt? Ok… that question was rhetorical, of course you do. So we have a thought, why not reward you for helping that someone, save (a lot of) money? It excites me to announce the new Purefy Rewards Program. Let us assist you in helping your friends, and in return, you get that warm feeling of doing a good deed, but also $200 in your pocket, it’s a win-win.
If you’ve heard enough, click the Rewards link above to learn about the program or go ahead and sign up. There is no limit on how much you could earn, but the real benefit will be to your friends and even our society in the long run. However, if you’re still a little skeptical and have a second, let me explain the rationale of our new Rewards Program.
Identifying the Issue
According to one credit bureau, Experian, there are over 40 million Americans who have at least one outstanding student loan. With $1.3 trillion in student loan debt outstanding, that’s an average of $32,500 per person. If you have a graduate degree, the average is double that. You don’t need to be a statistician or economist to see the broader implications here.
We now exist in a society of individuals who are the most educated demographic ever, yet one that is also more indebted (and at a younger age) than any who preceded them.
So how do we start to fix this debt issue?
Proposing a Solution
Purefy was formed out of this societal need. Our goal is to provide lower rates and shorter terms to borrowers who are serious about getting out of debt.
We’ve had great success during our first three years as a student lender. We had this thought though… why not use the collective power of personal networks? We all know great ideas spread most quickly through word-of-mouth and personal recommendations, so why not create a public narrative?
On average, our borrowers save $23,000 in total interest over the life of their loan. Now think if you helped three of your friends save $23,000 and in-return, they Pay It Forward** and help three of their friends save $23,000. All of a sudden, from a single act one individual helped 12 people save over $275,000. It is very easy to see the compounding effect here – think of what 100 or 1,000 people could do – and it is what will ultimately lead to a greater benefit to the newest generation of college alums.
Help us propagate a virtuous cycle
The student loan refinance industry is still very much in its infancy. The biggest reason why most people haven’t refinanced yet is due to a lack of general knowledge of refinancing opportunities now in place. By recommending your friends to refinance, you are spreading awareness and promoting a worthwhile financial goal – oh and you can earn some serious cash along the way. It is impossible to say at exactly what point this movement will go viral, but without your help, we’ll always be at least one person short. Who knows, you could be the person to set off the chain reaction, so sign up for our new Rewards program now. Plus… we’ve made it super easy to start recommending people, just share your unique link through email, Facebook, LinkedIn, or Twitter.
As always, if you have any questions or just want to talk student loans, the economy, or discuss the best way to procure a cup of coffee (I’m talking espresso here… not that watered down drip coffee), feel free to email us at firstname.lastname@example.org
** Yes, I am piggy backing off the movie “Pay it Forward” (starring Kevin Spacey) that I know everyone in the millennial generation has seen a million times over growing up.