Obliterate My Student Loans, Inc.

We were founded by a social worker - a 1st generation college graduate - who learned the hard way about the use of student loans, having borrowed for herself and having professional children who accrued 6-figure student debt to establish their careers. While watching the despair wash over her own children following their financial aid exit counseling, our founder knew that her children were not the only ones who felt overwhelmed upon graduation knowing what they owed and what they had. And so, she prayed. She prayed that God would give her a way to OBLITERATE student loan debt in a way that only He could. She didn’t have the money to obliterate the loans on her own. But she knew that she liked receiving the tax deductions on her qualifying giving and wanted to develop a non-profit that would allow others to give and receive. Years passed before she took the time to figure out what she needed to do to organize this nonprofit. 

And then she was hospitalized with double COVID pneumonia. While in her hospital bed, she began researching and within 3 months, she had a board of directors, and they incorporated the company.

That was in 2022. In 2023 they paid off their first student loan. The first-year loan was originally around $5000. The recipient made payments above the minimum due on that loan and several other private loans received in her quest to become a physician using half of her monthly net pay. By the time we paid off that loan, her interest rate was nearly 16% and her balance was over $6,000 due to compounding interest. Making that payoff, however, allowed the young professional to begin snowballing on the next private loan which she has already paid off this year and she is set to pay off another by 2025. We know this because our policy is to keep in touch with her recipients through consultation. We also encourage recipients to join our donor family and donate back into the organization so that we can continue helping others. Our first recipient has become a regular contributor.

We don’t require that recipients look a certain way, live in poverty or work in poverty to receive our scholarships. They only have to have graduated from an accredited school; still be paying for that education via student loans; and apply for our scholarships.

OUR VISION is to be the main conduit in America between those who seek to assist college graduates with their student loan debt and the college graduates who are struggling with paying off their student loan debt.

WE VALUE education at all levels;
WE VALUE the opportunity for all Americans to build wealth;
WE VALUE private enterprise's ability to address social issues voluntarily; and
WE VALUE accountability from ourselves and the graduates that we serve and accountability to our donors.