Want $20,000 in Student Debt Relief? Craft a Very Creative Tweet

The average graduate of a four-year university leaves school with $26,600 in student debt, according to the Project on Student Debt.

In an effort to fight the growing debt trend, MassMutual launched "Down With Debt" on Monday, a Facebook campaign that will relieve one lucky young adult of some loan burden ? while teaching all fans some important financial planning tips.

MassMutual will award one Facebook user with $20,000 for debt relief for liking the campaign's page and writing a creative, 140-character (tweet length) explanation of how they plan to reduce their debt.

"MassMutual recognizes that new graduates and young professionals in today?s world face big financial challenges," said Tara Reynolds, MassMutual's corporate vice president. "As a result, we created 'Down with Debt' to help people learn about effective ways to conquer their loans and take smart first steps in building a secure financial future."

MassMutual plans to use the Facebook campaign as an opportunity to teach America's youth about planning for their futures, with tips such as: pay with cash, not credit, avoid buying luxury goods, and budget.

Down With Debt runs through Feb. 14.

College loan debt now surpasses auto and home loans in the U.S., with more than $1 trillion owed by graduates, according to the U.S. Department of Education and Consumer Financial Protection Bureau. The Project on Student Debt notes that 66% of U.S. higher education students now take out loans, explaining in part how the overall debt burden has gotten so substantial.

Photo courtesy of iStockphoto, DNY59

Source: http://mashable.com/2013/01/14/down-with-debt-mass-mutual/

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