DES MOINES, Iowa (1/20/16)--A documentary about the crushing student loan debt burdening Iowa’s college graduates will have its first public showing thanks to the Iowa Credit Union Foundation (ICUF) and state credit unions.
“Broke, Busted and Disgusted” examines higher education and the true costs of college in the film, with the goal of changing the way Iowans approach and understand how to finance higher education.
The film, which came to fruition through an IndieGoGo campaign and generous support from ICUF and credit unions, will be publicly screened Jan. 26 at the Des Moines Social Club.
Filmmaker, financial literacy expert and ICUF board member Adam Carroll wants to bring the film to every Iowa high school at no cost to the school. ICUF has pledged $5,000 to screen the film and provide downloadable resources for parents and students. More than 15 Iowa credit unions have committed an additional $40,000.
“This is a must-watch film for all Iowans whether they, or their kids, are thinking about college, in college or have student loans themselves,” said Jaimie Miller, ICUF executive director.
Iowa is ranked sixth nationwide for average student loan indebtedness, with 72% of Iowa graduates carrying an average student loan debt of $29,370. The national student loan debt stands at more than $1.3 trillion.
That level of debt also spurred the National Foundation for Credit Counseling to recently launch a counseling program specifically for student borrowers. The certified counselors have completed specialized training that covers repayment, forbearance or other loan modification options, said President/CEO Susan Keating.