Honolulu, HI (USA), August 2013 - For many Americans, the reality that follows a higher education is the obligation to repay the large debt for the student loans they took to pay for their expensive college tuition. For a generation who grew up believing that a college education is the necessary ticket to success in life, entering the workforce with huge amounts of student debt in a tough job market has been challenging to say the least.
Student Body of America Association (SBAA), a 501(c)3 nonprofit organization, produced Student Body TV to address this national crisis. Student Body TV is a reality television series that aims to better prepare the public about making informed decisions regarding education and the related financial costs. With the help of iProRabbit, an interactive online platform was created for contestants to share their stories and voice out.
Contestants can be students, graduates, and even dropouts who want to return to school. It's not just for Generation Y; people of all ages are affected by the high costs of education. Gen X and even baby boomers carry a significant chunk of the student debt in the USA. "We had people ranging in age from high school students, to college graduates, to people in their mid-50s switching careers show up at our auditions," stated Smith, director of Student Body TV.
According to the Federal Reserve Bank of New York, 40 percent of student-loan borrowers are under 30 years of age, 42 percent are between the ages of 30 and 50, and 17 percent are older than 50. Student debt now affects the entire U.S. economy, with Americans owing more than $1 trillion - more than the country's total credit-card balance.
Student Body TV contestants compete for money for their education, to put towards student-loan payments, or to save towards college tuition. SBAA is reviewing companies for cause sponsorship, cause branding, and cause marketing relationships for this program.
