"The Biggest Misconception About Today's College Students" and How Boro is Changing Their Financial Futures
Judging from movies, TV shows, and social media, today’s college students are a happy-go-lucky, carefree, hard-partying bunch. In reality, many of them are barely scraping by. In her recent New York Times Article, Gail Mellow, President of LaGuardia Community College, detailed how today’s college students are ensuring their success against seemingly insurmountable challenges.
Of the approximately 18 million undergrads in the United States, more than 40% attend community college (only 62% of those students can afford to attend full-time), more than half live at home to save money, 40% work at least 30 hours a week and 25% work full-time and attend school. About 25% of undergrads are older than 25 and about 25% are single parents.
Despite the stereotypes, the truth is that most college students endure long, exhausting days working and studying - not living it up. They're struggling to make ends meet for one reason: they're ambitious. They're determined to do what it takes to have a brighter future. A two-year degree can earn a student nearly 20% more annually than just a high-school diploma.
A minority of college students have trust funds or wealthy parents and don't have to worry about where their next meal will come from, how they'll pay their rent, or what they'll do if they face a large emergency expense. Most college students are frugal, hardworking - and still financially strapped.
This is where Boro comes in. We believe that investing in people who are working to better themselves is the right thing to do. Every journey begins with the first step - including the journey that leads to a great credit score that allows you to finance important purchases, like airfare to travel to a job interview (and professional attire to wear), a computer, or a vacation. Boro is that first step (more like a springboard) for responsible college students who simply need an opportunity to prove their creditworthiness.
Boro offers personal loans ranging from $1,000 to $3,000 with low-interest rates and fixed monthly payment plans that college students can afford. Currently, personal loans are available to students in Alabama, Arizona, California, Florida, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Ohio, Utah, Washington, and Wisconsin.
Unlike many conventional lenders, Boro loans money to qualified applicants who do not have a significant credit history - or even any credit history. Not only will a Boro personal loan alleviate some of your financial stress, but it will also help put you on firm financial footing for the future. To get a credit history and high credit score, you must show you can use credit wisely. Securing a personal loan and making on-time payments will help you build up your credit. As a college student, you represent our nation's future. We are happy to invest in that future!