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Press Release

America Saves Town Hall to Address Reducing Consumer & Student Loan Debt During COVID

Issued by America Saves on November 4, 2020

The Nonprofit Will Also Give Away Cash Prizes Through Sweepstakes and Provide Free Financial Counseling to All Who Attend
                                    
Washington, D.C.—On Thursday, November 5th, America Saves is hosting “#ThinkLikeASaver: How Do I Pay Down Debt?,” the second of their virtual town hall series aimed at helping everyday Americans get in a financial recovery mindset amid the ramifications from the COVID-19 pandemic.
 
The #ThinkLikeASaver Virtual Town Hall Series is a direct response to meet the needs of the most vulnerable population affected by Coronavirus. Its first town hall, “Simple Strategies to Help You Save,” was viewed by nearly 6,000 people via webinar and social media.
 
Held at 2pm ET, the virtual town hall will share easy to implement strategies to help everyday Americans develop an action plan to pay down their consumer loan debt, understand the effects of debt on their credit scores, and address student loan debt for those approaching education costs and options for those who already have student loans.
 
In addition to sharing resources, tools, and tips that individuals can easily understand and apply to paying down their debt, America Saves will be giving away five $500 cash prizes in its #ThinkLikeASaver Sweepstakes, sponsored by Cross River. The prizes are meant to support participants who’ve recently taken the America Saves or Military Saves Pledge to start or restart their emergency savings fund, put toward their existing debt, or another savings goal.
 
“Empowering consumers is at the heart of everything we do at Cross River, and we are thrilled to be joining America Saves to provide tangible strategies for savers,” said Eden Hoffman, Head of Communications at Cross River. “Every consumer deserves the chance to take action by creating a plan for their money, and America Saves is enabling just that, by providing the tools and education necessary to make sound financial decisions.”
 
Attendees will also have access to free financial coaching or counseling via AFCPE® and the Yellow Ribbon Network.
 
The town hall brings together dynamic speakers, industry leaders, subject matter experts, and influencers to give realistic and tangible strategies on saving while recognizing the hardships and barriers that the Coronavirus has both ushered in and exacerbated, like unemployment, reduced income, and systemic racism.
 
“The financial crisis exacerbated by the pandemic has added mental burden and stress for many Americans. This town hall aims to inform, empower, and motivate individuals toward taking clear action to reduce their debt based on their unique situation and ease some of that burden,” said George Barany, Director of America Saves.
 
“We also believe that Americans having access to quality professional financial advice, just like the wealthy, will add tremendous value and support toward better financial stability as a nation. With access to financial counseling and coaching with certified professionals, Town Hall attendees will be able to make a personal plan that hopefully puts them on track towards financial stability.”
 
On November 19th, the series will continue with the installment, #ThinkLikeASaver: Saving for Major Life Milestones” In this installment, we’ll focus on how to save for education, homeownership, and retirement.
 
Of Special Interest to Consumer and Financial Media
 
Speakers during the town hall include: Tom Quinn, Vice President of Scores at FICO; Moira Vahey, Director of Communications at the Student Borrower Protection Center; Akeiva Thomas, CFP and Influencer at thebemusedtv.com; and Robin Saks Frankel, Personal Finance Expert at Forbes Advisor.
 
During the November 19th town hall America Saves will be joined by: Ric Edelman, Founder of Edelman Financial Services; Mitiria Wilson-Spotser, Director of Housing Policy, Consumer Federation of America; and experts and analysts from the Forbes Advisor team including, Natalie Campisi, Brianna McGurran, and Taylor Tepper.
 
The #ThinkLikeASaver Virtual Town Hall Series is made possible by generous support and donations from AAFMAA, Cross River, AFCPE®, DailyPay, The Annie E. Casey Foundation, Mortgage Bankers Association, The National Credit Union Foundation, and WesBanco.
 
The event is open to the media. To listen in, reporters can register here: America Saves Town Halls.
 

About America Saves

America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low-to-moderate income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week.