The Long Walk to a Diploma
If you have ever been a college student, it’s likely you know how financially infeasible it can be. Between books, tuition, food, and rent, college is far and away the most expensive investment a young adult can make. To help cover this cost, students will rely on a mixture of family contributions, aid, scholarships, jobs, and loans, as they do their best to get across the finish line. While all of these options are usually necessary for a student to make it through college, it’s the last one, loans, that can prove the trickiest.
The University of Iowa | Iowa City, IA
Enter Jeremiah Meyers from Chicago. In May of 2019, Jeremiah walked across the stage along with his classmates at the University of Iowa. There was only one thing missing: at the end of his walk, he did not receive his diploma. Jeremiah was caught in a situation that is not uncommon. Ready to graduate with a Bachelor’s degree in Computer Informatics and a Minor in Music, Jeremiah was informed that he still needed to earn a few credits to achieve his diploma. Adding to Jeremiah’s troubles was another issue. He had run out of federal loan funds that could help him cover the cost of college, and didn’t have the financial metrics (great credit score or a cosigner) needed to access the private loan market. A gap of $2,000 stood between Jeremiah and a brighter future.
“I first heard of A.M. Money from Mike Hugulete (Alumni Support Manager from Gary Comer, a Noble Network Charter High School in Chicago) while at Iowa,” recalls Jeremiah. “Mike was aware that I needed to take a few more classes after walking across the stage. He told me A.M. Money could be the perfect resource for me.” It turns out A.M. Money was exactly what Jeremiah needed.
With a low-interest rate, flexible repayment options, and a no frills application, Jeremiah was able to get back on track for graduation quickly. “The application process was pretty easy. I was sent a link that asked the normal questions about college, and once I filled it out, I think I filled it out Tuesday, they called me by Friday. I had the money for school the next week. When my friends from Chicago ask how I made it through school, or what I recommend for tuition or additional schooling, I always tell them about A.M. Money due to how fast I was able to get the money I needed.”
Jeremiah Myers | University of Iowa, Class of 2019
After officially graduating from Iowa in December of 2019, Jeremiah began working full-time at CH Robinson. His proverbial walk across the stage finally ended when he received his diploma in the mail in the winter of 2020.
Stories like Jeremiah’s happen everyday, but most end with the student dropping out or taking on a high interest rate loan and massive debt. A.M. Money is looking to change those stories. By looking at metrics that a student has more control over (GPA and the institution they attend), not their metrics more in a student’s don’t require students to have a cosigner or credit score, A.M. is opening the door to more students who are on the path to success and just need some additional support to get there. Whether it’s financial literacy, employment support, or transparent lending, A.M. Money is here to help.