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  • Paying off debt can be a cause for celebration
  • Paying off debt can be a cause for celebration
    Rawpixel (2018) ©
CASE STUDY

SoFi: creating a milestone moment out of clearing debt

Stagnant wages and rising living costs have many Americans delaying traditional life milestones. At the same time though, new moments have gained significance, and a campaign from fintech firm SoFi has honed in on the final payment of one’s student loans as an occasion worth celebrating.

Location United States

Scope
Previous generations may have looked to marriage or starting a family as causes for celebration, but in 2018 the goalposts are radically changing. Student debt – which is valued at $1.5 trillion in the US – is often the reason why college graduates don’t aspire to the expensive weddings and property ownership that marked their parents’ transition to adulthood. [1] Acknowledging the mammoth challenge of overcoming one’s debts, personal finance company SoFi has created an ad that reframes the act of paying it all off as a ‘graduation’, tapping into people’s changing definitions of a life milestone.

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