PHILADELPHIA, April 13, 2021 /PRNewswire/ -- BurkeyLoan Inc. today announced and published an open letter to President Biden and members of Congress.
The letter proposes a compelling opportunity to resolve the student loan debt problem for pennies on the dollar. It will conclude an average student-debt ladened couple will be empowered to save $542 in monthly expenditures, put an end to the fraught of student loan debt, be on a pathway to wealth equity within three years. The opportunity will mandate an energy efficient component, triple housing starts, and accelerate GDP for a decade.
According to company president, John Burkey, "We envision that a private-public arrangement would resolve the student debt crisis and accelerate lagging affordable household formations. Together with a mandate of energy efficient 'Green' housing, the anticipated demand for new construction could create four to five million permanent jobs. All this for pennies on the dollar of what the student loan portfolio pay-off would cost."
The company, BurkeyLoan Inc. has developed a new disruptive home finance platform for the Millennial Generation. The platform is an international collaboration of best in class technologies and is near completion. The cloud-based digital system is a unique, disruptive financing method, process, and exchange that bypasses traditional channels.
The company's signature product is the BurkeyLoan® Mortgage. The mortgage is a 30-year fixed-rate loan that combines student loan debt and a home purchase. The mortgage amount can be up to 120% of the home's value, payoff student debt, and require a minimal down payment. For the borrower, it means lower monthly payments and home ownership.
In short, according to Mr. Burkey, "The platform is access to capital and an investment in human capital. It bypasses intermediaries and empowers a pathway to wealth equity for the younger generations. Our system puts the same tools from the recent bank bailout into the hands of Millennials. It will cost pennies on the dollar versus student loan bailout and the equity from rising home values will extinguish student loan debt. It is sustainable and can remain viable for future students."