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The Simplest Guide to Understanding and Lowering Debt

There is over $1 trillion dollars of student debt hovering over the Millenial generation.

It's the only area of the US debt map that's growing. It's grown by 281% since the first quarter of 2004.

And perhaps more terrifying it is a sign that increasingly high education costs combined with a tepid and tranforming job market are causing a serious strain on people who financed school by borrowing.

It is a problem.

Massively compounding the problem is the vast majority of students age 18-25 have very little financial literacy with which to decifer what financing option is best for them. Instead of helping APR vs. APY, cosigners, refinancing, sales teasers have become a hindrance to an informed financial transaction.

Millenials need a simple yet comphrensive guide to understanding their debt obligations and once they enter into them, how they can effectively pay them down without sacrificing their future.

I want to educate Millenials to understand the debt they currently hold and empower them to reduce it in realistic yet effective ways.

No more than 20 pages. No 12 letter words. No math more complicated that addition, subtraction, multiplication and division.

Simple and actionable information. 20 pages for $60.

Freelancer vs. Entrepreneur

This is a very entreprenuerial venture. I want to create something that will keep driving itself forward on without my hands on the wheel. Once I invest time in creating this document I will delegate all the tasks associated with marketing and distribution to others, namely my virtual assistant in Mumbai India.

Funding

I believe I can self fund this business. I'm budgeting 10,000 dollars to do the necessary research, generate a website, buy some google ads, and fund the initial sales period. I've always funded my own businesses and I wouldn't ever change that. Complete artisitc and fiduciary control is essential (imho) to controlling the vision you have for any given project or business.

Hiring

I need one partner to complete this project. That partner's superpower needs to be a deep understanding of student debt. They need to have had a significant amount of student debt (presently or in the past) for an extended period of time. They need to have loathed that debt and felt - in concrete ways - it's burden upon their back. 

To find the partner I'd need I'll start looking for people currently working in the financial space in Salt Lake City. Goldman Sachs has a growing contingent of 20 something's to pull from. Using my own network I'll solicit for candidates using a 1 page website that states the problem in clear terms and asks for someone to step up to meet its opportunity.

To be honest with a project of this size I'll somewhat hope the good ones are the convenient ones. Not a great strategy, I know. If anyone has an idea of how I can separate the good from the rest please let me know in the comments.

Once I find someone we'll work to create a skeleton of all the information we'll need to put together this short ebook. I don't forsee having a formal review process. Instead as issues come up we'll address them head on. Same for the uncomfortable stuff.

I'm looking for someone who can quickly and easily digest what's been done before then explore solutions and opportunties to the student debt burden with an innovative and expansive lens. We'll need to deeply wade through complex questions like: what tools are available to avoid debt? and what are the advantages and disadvantages of each?

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