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As student loan debt continues to be a genuine concern for many Americans, and with all the ongoing conversations around debt consolidation and student debt forgiveness, we thought it would be beneficial to reshare an informative student loan episode featuring Zack Geist. Zack is the founder and CEO of Student Loan Tutor, America's longest-operating student loan repayment management and solutions firm.
With years of experience, Zack provides borrowers with fundamental student loan debt guidance and stresses the importance of building alliances and support systems in life to succeed. So, if you've got student debt concerns, take notes as we present today's Motivational Monday's Rewind with Student Debt Guru Zack Geist!
RELATIONSHIPS ARE ESSENTIAL FOR SUCCESS
Having experienced difficulties and trauma early in life, Geist is grateful for those challenges and the ways they helped him learn and become the person he is today.
An essential part of that growth process for Geist is mentorship. He believes that mentors have been around historically to “help [people] understand and make meaning and provide initiations and rites of passage for people who have been challenged with adversity so that they could embody this trauma and allow it to help them grow.”
Unfortunately, Geist says, our economic system “identifies each person as an individual separate unit that's cut off from everyone else,” leaving many people feeling isolated. But relationships are essential for success. Authentic bonds with others teach us how to create meaning and empower us to find solutions and make deeper connections.
This is why he created a company that provides mentorship for those seeking the knowledge they need to climb out from under student loan debt.
LEARN THE RULES OF THE GAME
Geist realized that student loan companies take advantage of the isolation and lack of knowledge among their borrowers. “I realized that debt and slavery are linked together. […] I felt like student debt was something that [had become] a crisis around lots of companies starting up that seemed to be doing shady things. I knew there were programs that were intentionally put into place, but for some reason, people struggled [with] how to navigate those for their own best interest.”
Geist believes that if we’re forced to play the game of our current economic system, we should learn its rules. It’s possible to navigate the game with different strategies, leading to different outcomes. Often those who already have the means to learn about the game can discover ways to succeed at it, but that knowledge doesn’t always get passed to others.
“What I really want to do is help liberate the people” through education and inspiration, Geist says. “Me, I'm here to help guide people through the labyrinth,” like Ariadne leaving a string to guide Theseus through the labyrinth.
LIBERATING OURSELVES FROM THE STUDENT LOAN CRISIS
So how do we liberate ourselves? Partly through our own financial literacy, and partly through access to mentors like Geist and the people at Student Loan Tutor.
“The good news I want to bring is that it is possible to navigate these things and [to] do it in ways where you're able to keep and move money and do beautiful things in the world.”
In this episode, Geist explains the newest SAVE repayment program and how borrowers could use the program to create more wealth, instead of living under a debt burden that continues to grow.
Geist hopes that one day the student loan system is corrected, but in the meantime, there are steps you can take to help protect and grow your future. This is where Geist’s companies Student Loan Tutor and Holistic Finance come into play. If you’d like to learn how to make this dream a reality, they can provide you with the knowledge you need.
Check out the episode to hear more of Geist’s advice and observations about our current economic system, and to learn how you can better navigate the maze of student loan debt.
Mentorship is a powerful tool for supporting future leaders. Check out how another Motivational Mondays guest is harnessing the power of mentorship to build a brighter future.
Listen to this episode to learn about...
- [1:03] The lessons Geist learned through adversity
- [7:39] How Geist got started with student debt advisement
- [13:56] Dissecting the different types of student debt
- [22:07] Financial literacy and the history of loans and debts
- [25:41] The good news about student loan debt
Tune in to the Members Only episode to learn how Geist and Holistic Finance reframe investment to benefit not just the individual, but the wider community as well.
Resources:
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Start your student loan education with informational videos from Student Loan Tutor.
- Learn how Student Loan Tutor can help you lift the burden of debt.
- Keep tabs on the latest from Student Loan Tutor on Facebook or LinkedIn.
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Listen to other Motivational Mondays episodes.
