Right now, there are 42 million people living in the U.S. with outstanding student loan debt. On average, individuals who graduated college in 2017 still owe nearly $30,000. Even in the middle of a crisis, the government has done little to help. While Democrats have proposed a student loan debt reduction of $10,000 per person, it appears that the U.S. will only implement a short term pause on paying student loan debt during these trying times. In short, it’s highly unlikely that the United States will get its shit together in terms of student loan forgiveness anytime soon. Luckily, there are companies out there that understand how hard paying off student loans can be, and they are here to lend a helping hand.
Popular skin-care and cosmetics company, First Aid Beauty has recently launched Fab Aid, an initiative that pledges to commit $1 million to paying off student loan debt. Started in 2009 by Lilli Gordon, a boss mom, grandma and entrepreneur, First Aid Beauty’s mission has always been to offer skin care, for all kinds of skin types, that actually works so that their customers can feel fabulous. A breath of fresh air in the beauty world, it’s clear that the company is also on a mission to help people feel secure in other aspects of their life, too.
First Aid Beauty has launched a line of their Ultra Repair Cream specifically for the Fab Aid campaign. 10 percent of the retail sales will be added to the $1 million pledge, and registered college students even get 15 percent off their orders. But how does one actually apply for the chance to get some help with their loans? First Aid Beauty is asking that any person in the U.S. and Canada who graduated college between January 2018 and August 2020 send in an application and share a video of themselves telling their student loan story. The brand was sure to mention that they while they hope this will just be the first year of many for Fab Aid, they aimed the first round towards recent graduates to help them transition into post-college life. The $1 million will be split between a number of winners (who will be awarded up to $100,000 each), and the applications will be surveyed by a panel of judges including Gordon herself, actress and singer Laura Marano, positivity influencers Nabela Noor and Aja Dang, Clever Girl Finance’s Bola Sokunbi, and former Bowdoin College president Barry Mills. After viewing the videos, the judges will base their decisions on the following criteria: Perseverance, Aspiration, Authenticity, and Passion.
"It’s on the minds of so many people every single day,” Gordon stated in an article with Refinery 29. “The cost of education has risen exponentially faster than wages, and the ways in which interest and loans are structured are not favorable for students. We are so proud to make a commitment toward impacting the futures of deserving college graduates and give them the freedom to pursue their dreams free from the crushing impact of loans." Student loan debt is truly on the minds of millions of people every single day. As tuition rates sky rocket, and the government at large continues to do little to help graduates put their debt behind them, if generous companies like the woman-led First Aid Beauty continue to come up with initiatives like Fab Aid, a difference can be made.
The application is open from now until August 31st and winners will be chosen at the start of November 2020.
Header Image via First Aid Beauty on YouTube
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Aliza is a Creative Writing BFA student and former BUST Magazine intern! When she's not writing, reading or scrolling through TikTok for hours on end, you can find her consuming copious amounts of iced coffee or doing something witchy. Follow her on Twitter @alizapelto.