Invite: Payday, Puerto Rico and Student Loans

Dear Friends,

In recent months, together we won solutions for greater transparency in the global financial system. We moved forward solutions to Puerto Rico's financial crisis. 

Now I'd like to invite you to join us again as we work on payday lending, Puerto Rico's crisis and student debt.  You can join hundreds of communities across the US and participate October 14-16 in Jubilee Weekend 2016.

Please sign up if you can organize an event or if your religious community can offer one prayer for our neighbors impacted by predatory lending and debt crises. When you sign up, we'll send you materials that you can use to host an event at your house or sample prayers to be offered at your worship service.

Our theme this year is "Love Your Neighbor," as we pray and act for solutions to debt crises impacting communities across the United States and Puerto Rico. We'll focus on predatory "payday" lending, student debt and the ongoing debt crisis in Puerto Rico.

Payday loans are targeted at low-income communities where residents have little access to credit and struggle to make ends meet. The average payday loan carries an annual interest rate of nearly 400% - many borrowers take out as many as 10 payday loans to pay off the initial loan, creating a descending spiral of debt. This same type of debt spiral threatens Puerto Rico and its people as the Zika virus spreads and more Puerto Ricans leave the island. Meanwhile, student debt in the US has passed $1.3 trillion and a number of student lenders are under scrutiny for predatory lending and debt collection practices.

Sign up and join us October 14-16 to "Love Your Neighbor." Organize an event or offer one prayer for solutions to financial crisis that protect the vulnerable. We'll help you with actions, sermons, prayers and any other creative idea you have for a successful Jubilee remembrance.‎

Gratefully,

Eric LeCompte
Executive Director
www.jubileeusa.org/support-us