Student Debt Crisis Prompts MassMutual To Give Away $20,000
Life insurance company MassMutual is hoping to connect with college students and young adults about student debt relief through a familiar channel: Facebook. Starting on January 14, the company launched “Down with Debt” a campaign that will use Facebook to provide tips and advice for saving, paying down debt, and overall financial planning.
Additionally, “Down with Debt” includes a contest, where consumers are encouraged to “like” the MassMutual Facebook page and write a 140-character post about their creative plans to pay down debt. One winner will receive $20,000 in student debt relief and the campaign runs through February 14.
“MassMutual recognizes that new graduates and young professionals in today’s world face big financial challenges,” said Tara Reynolds, MassMutual’s corporate vice president, in a press release about the campaign. “As a result, we created ‘Down with Debt’ to help people learn about effective ways to conquer their loans and take smart first steps in building a secure financial future.”
While students and young adults are on the Facebook page to register for the contest, MassMutual also hopes they check out the financial advice posted there, which includes making a budget, reviewing student loan payment options, avoiding using credit cards, and delaying luxury.