People will resort to some crazy things to get rid of their student loans, but you gotta admire their courage.
Take a look at these leaps of faith that actually worked out.
1. Cashing Crypto
Konig Chen paid off his $250,000 tuition price by cashing out his Bitcoin profits.
The 22-year-old, who was raised in Brazil and went to high school in Taiwan, says he has used the proceeds of his bitcoin investments to pay for a full four-year course of study at the school.
Even though he studied hospitality and leisure management, he now has other plans.
“After making all this money, I can’t see myself being the manager of a hotel,” he told the NY Post. “My plan is to cash out and buy a resort property.”
Seems like he’ll still have some of the same problems being a landlord, but OK — and at least he doesn’t have to worry about monthly debt payments!
Ken Ilgunas paid off his $32,000 student loan by canoeing across Ontario, Canada, transporting “voyagers,” or people who live and dress like 18th-century fur traders.
He also worked as a maid and took other odd jobs, living in his van all the while. It took him three years, but his debt vanished.
3. The Big Move
Holly Morganelli, 32, had $60,000 of student loan debt to her name and couldn’t find a job.
She eventually landed a job in Qatar as a librarian for a modern art museum — where she received a monthly tax-free salary and had all of her accommodations paid for, including meals for the first three months.
With her living expenses and rent almost entirely paid for, she could put all her earnings toward her loan payments. And she did!
4. “(Couch) Surf’s Up, Bro!”
Even though she dropped out before receiving her public relations degree, Nikki Yeager still owed more than $10,000 in debt when she left Syracuse University.
For an entire year, she couch-surfed between apartments, crashing with friends, and putting all her rent money towards her loan. Even though she was technically homeless that year, once the year was up, her loan was history.
5. Camp(er) Rules
Married couple Zach and Jen McCullock had a combined $50,000 in student loans — until they sold most of their possessions, put the rest into storage, and lived in a camper for 11 months.
They survived a brutal summer with no AC, a near-direct hit from a tornado, and ice storms — but they emerged debt-free in under a year.
These are obviously unique and special risks people made to pay off their loans. It doesn’t have to be this way.
While we definitely are impressed, we understand that not everyone is jumping at the chance to have these kinds of life-changing challenges.
If you’re not quite up to couch-surfing or canoeing across a lake to pay off your loans, you can always find a smarter way to afford college with FRANK.