1 in 20 American students have sought medical treatment after reckoning with payment expectations for their student loans – according to new research which has been further investigated by Student Beans. In surveying over 1,300 students, the new student discount app found that 88% feel stressed due to their overwhelming loans, and 45% push their worries to the back of their minds to avoid thinking about it. Because of this, Student Beans has decided to spring into action by calling on its corporate brands around the country to pledge support to a joint letter to President Joe Biden, urging him to prioritize government policy on the cancelling of student debts.

“Student Beans softly launched in the United States just over a year ago, and we’ve used that time to not only bolster our audience to just over two million users, but to really understand the American student population,” says William Harris, Chief Strategy Officer at Student Beans. “Time and time again, they tell us that what keeps them up at night isn’t exams or papers – but their overwhelming and ever-growing student debt. So much so that it’s having a detrimental impact on their mental wellness.”

The discussion of student loans in the United States is not new; it is a long, painful and triggering topic for many. But, with President Joe Biden bringing renewed hope to the United States, he stated he would cancel $10,000 of debt per student, as he courted his candidacy. However, as we pass the halfway mark throughout the year, student debt remains. Over 400 organizations from the non-profit sector have voiced their support of federal debt cancellation, but where is the opinion of other businesses and corporations on the matter? That’s where Student Beans steps in.

With 92% of US students believing that President Joe Biden should roll out student loan forgiveness, Student Beans took their words to heart by penning a joint letter to the White House. Student Beans, a top-rated student discount app with exclusive offers from the likes of Uber Eats, Walmart, Door Dash and ASOS, today calls on its brand partners and users to sign the joint letter to stand behind all US students and support the elimination of these federal loans in hopes of paving the way to a brighter future.

Students feel so passionately about this that it’s the number one campaign promise they want President Joe Biden to focus on, above other issues that would impact their lives such as minimum wage, taxes and even education itself.

What the students say…

“Following my college acceptance at 19 years old, I and many students are now faced with growing student debt that will grow to, equal or exceed the price of an upper-class family home,” says undergraduate student, Julia Caldara, “If the majority of US citizens are unable to have comfortable lives because of the mounting student debt, which also prevents many from seeking higher education in the first place, as a country we won’t be able to succeed.” – Julia Caldara, 19 years old; identifies as female; and is studying Chemical Engineering at Rutgers University.

Student Beans submitted the letter to President Joe Biden and will now wait with the rest of the country on an update concerning federal loan forgiveness.

“We exist to better the lives of the student population around the globe. We’re fiercely dedicated to establishing a more financially secure student body and we’re firm believers that US students deserve to thrive with less—if not zero— debt,” concludes William Harris, Chief Strategy Officer at Student Beans.

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