The fragile economy and slumping jobs market are causing unrest in America and across the world. As a response of sorts, the U.S. government and the Young Entrepreneur Council are putting their faith into young, fresh-faced entrepreneurs with the launch of the Gen Y Fund, a startup accelerator aimed specifically at students.
The Gen Y Fund is the first private enterprise to take advantage of the government’s reforms to its Income Based Repayment (IBR) program, which will start in 2014. IBR was first introduced by President George W. Bush to help alleviate student debt repayments. The program extended the repayment period allowing students to pay back their loans in lesser amounts over a longer period of time. The White House announced IBR will take on more of an entrepreneurial spirit, helping students not just to repay their loans but also to start businesses by lowering barriers to entry. Both the fund and the IBR reforms were recently announced by the White House.
To read the full, original article click on this link: White House and Gen Y Fund Place Hope in Young Entrepreneurs
