Ujamaa Financial’s Post

Ujamaa Financial Joins Forces with College Cash to Accelerate Financial Empowerment for Students. Ujamaa Financial has announced a new collaboration with College Cash (Techstars '23) Cash, a recently launched disruptor in the student debt repayment solutions space. This strategic partnership aims to combine the strengths of both companies to further accelerate financial empowerment and prosperity for college students and recent graduates, especially those in disadvantaged communities. With student loans going back into repayment after a three-year pause, and October being Student Loan Awareness Month, the timing of this collaboration reflects the urgency to provide relief to young people shouldering crushing debt burdens. By integrating Ujamaa's customized digital banking tools, financial literacy content, and compassionate coaching tailored for minority communities with College Cash's student debt repayment capabilities based around utilizing various forms of everyday behavior, the two companies will now offer a powerful ecosystem to help young people efficiently repay loans, build credit, and create wealth. Additionally, the recent partnership of College Cash and MoneyGram will allow a "community support" aspect to addressing student loan debt by utilizing MoneyGram International locations as cash-in/cash-out points for their users.  Ujamaa Financial's social platform will allow College Cash users to easily share their repayment journey with friends and family and unlock motivation through community. Users will also benefit from Ujamaa's immersive financial literacy education through AI-powered gaming and personalized avatar experiences making complex money topics accessible. College Cash's innovative use of everyday purchases and cash back rewards to drive incremental debt payments are a perfect complement with Ujamaa's solution. “This alliance was the perfect blending of our visions to help those most affected by the student loan debt crisis. This sets us up to becoming a future leader in the consumer debt reduction space.” said Demetrius Curry, CEO of College Cash. The combined offering provides flexible new mechanisms to conquer student debt as a community starting as early as the first year of high school. Dana Fry, CEO of Ujamaa Financial, shared "By joining forces with College Cash, we can accelerate financial justice and economic mobility for more diverse graduates nationwide. Together, our innovations uniquely provide the technology, knowledge, and social empowerment needed to create lasting change." This collaboration represents the next evolution in culturally competent fintech solutions designed to dismantle systemic barriers and build generational wealth, with users at the center. #studentdebt #generationalwealth #studentloanawarenessmonth #blackexcellence #blackwealth