Paying Off $102K In Student Loan Debt

Americans have nearly $1.9 trillion in student loans. And it will take 18.5 years for the average person to pay off their college debt.
Mandy Velez did not want to wait that long. Velez, 28, graduated from the University of Pittsburgh in 2013 with more than $75,000 in student loans. The Philadelphia native had taken out a total of five loans ranging from $7,500 to more than $32,000, with interest rates between 6% and 11.75%.
She calculated that if she made only the minimum monthly payment of $300, it would take her until 2046 to pay off her balance and cost an extra $96,000 in interest. Velez’s first journalism job out of college paid $40,000. Subtract New York City rent, along with living expenses, and she would not have much spare money to throw at her debt.
Watch the video above to learn more about the method Velez used to pay off her student loans.
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Here’s how this woman paid off $102,000 in student loans in 6 years

[@royboy1984]

I’m in year 3 of my aggressive debt repayment plan. 2 jobs, working 7 days a week. I knocked out 30k, 20k more to go!

[@kemikunle9360]

Jesus!

[@jamesgreen4212]

Go get em man! Maybe set up a funeral for your student loans once you're done too 😂

[@genwilson7741]

So what side hustles are you doing?

[@written2382]

You're a ROCKSTAR! You'll be done sooner than you know it. Godspeed, friend!

[@selflove428]

I'm going on 5 years on debt repayment. I work 60 to 70 a week. I paid off almost 10,000 debt

[@moochimooch636]

I owed 75k so far its been a year and i’m down to 46k. I’m an Registered Nurse in NYC. I started a small business and currently pay $2000/month towards my loan.

[@moochimooch636]

@vince baldwin thats on the lower spectrum nursing home salary. Most hospitals start you off at $90,000+. Also Thank you very much!

[@strawberrycreme7181]

Wow congrats! Keep going!

[@sonofyah144k2]

@@moochimooch636 Come to SF 100k starting

[@moochimooch636]

@Theone82 LOL i don’t throw 100% of my check into my loan. And it’s only been a year. I make 100k as an RN before taxes. I didn’t open up a business to pay off my loan, i opened up a business for more income to generate more networth. Not live paycheck to paycheck like most people. Currently i have 30k left on my loan. It has been a little over a year since working my first job :D if i wanted to i can pay off my whole loan but majority of my money goes into investments.

[@churchillotamere833]

@@moochimooch636 one of my friends who studies in America says she richer than me I attend college in Europe but with no loans she receives loans she doesn’t work to pay off loans yet her first year what do you think is the best advise I can give her

[@FourWheelFinance]

They really need to educate high school students more, it's crazy how an 18 year old who can't even have a beer can sign up for six figures of debt. Counselors and parents need to step it up!!

[@MrKrabs-nv3vr]

That part that was me. I was 17 years old discussing loan amounts. Didn’t know what I was getting myself into. All I saw was the college life. My grandma was my co-signer. Now I’m 17K in debt…

[@FourWheelFinance]

@@MrKrabs-nv3vr It happens quick! At least $17k isn’t absolutely horrible, there are plenty of people with $50k and no degree! Just need to keep your head down and you’ll be there in no time 👍🏻

[@josediazj6]

I did $100k in five years I worked day and night for all those years. It made me who I am and I’m glad I did. I graduated as an accountant debt free. It’s my biggest accomplishment. Congratulations!!!!!!! No one can take that accomplishment away.

[@DFCGarage]

Go in Europe and do the studies for free and you will get also a 4 years life experience.

[@numbskull8076]

Hello I am so happy to hear that I wanna graduate as an accountant too but I am scared and I don't know many things its just eating me because I really wanna move to another country and study properly.

[@numbskull8076]

I am so glad to hear that

[@PWNINGxPENGUIN]

Hi. I’m gonna be an accountant. I’ll have $210,000 in loans :)

[@josediazj6]

@WorldFleximmigrant- out of state tuition Landscaper- cook - student for all those years Accountant in Atlanta

[@robertschafer3062]

The fact that her degree was $75,000 and her starting salary (in NYC) was only $40,000 tells me that her degree was extremely over priced. I think colleges will point to "future potential earnings" but I do not buy that logic. Once you start working your employer will teach you more through experience than your college classes will. It would make more sense to set tuition prices based on expected first year salary. It will be interesting to see if colleges make adjustments in the future due to their offering becoming less accessible to most Americans + Americans not being willing to go into massive amounts of debt for a degrees that don't mathematically pay off.

[@TheTbabylati]

It is. A journalism degree doesn’t pay much. I would only go to get a STEM, medical or law degree. Anything else is almost not worth it.

[@spacewalker9375]

Purdue has a really interesting concept going on thanks to Mitch Daniel's. Purdue is essentially providing your education and you don't pay until you're done. The idea is that you owe back at a certain percentage depending on your actual success and the field band you fall under. So essentially if you're a literature major you owe less than engineer. And if you are super successful and make 6 figures, you owe more to the school.

[@betsywilliams3666]

@@TheTbabylati Then you'll have an over saturated market for STEM, medical and law. We also need the arts.

[@miaa1762]

@@TheTbabylati I am going to college this September and majoring in journalism. It is really worth it, especially if you then want to get an even higher education.

[@colorfulcodes]

If she's in NYC we have cheapest colleges in the country that are also high quality. CUNYS and SUNYS are awesome and cheap. Cunys are rated in country as least amount of grads with debt.

[@MrBrewman95]

I paid off my last 9,000 last May. It really is a liberating feeling.

[@daple1997]

Take out more debt lol

[@dsdddsd4543we]

This is incredible, but every time I see stories like this, it always makes me wonder how did this happen? In the 70s, 80s, and 90s, this problem simply did not exist for students. There has never been a generation that has had this type of burden at the beginning of their 20's.

[@mdel310]

Predatory practices by the school because the federal government got involved with student loans, so they were able to raise tuition and it created a vicious cycle.

[@samuelhardy5882]

@@mdel310 100% - couldn’t agree more

[@mr.animemystery60]

@@mdel310 in canada its pretty okay, intrest is 2.5%/month after graduation, and if u can't pay it it will automatically be forgiven in 15 years. Plus the loans that you get aren't all loans, majority is just grants and loan is like 3.5k out of 11k. Well depending upon the university, program(degree), and financial status it may vary.

[@afprincess7622]

I think People are a lot more vocal about it because the big thing is paying off debt. Not to mentionSchool prices have gone up, cost of living is up, And people are spending a lot more money trying to keep up with the Joneses which means the money you Have left to pay off school loans is very little.

[@oldcountryman2795]

Nonsense. It was never easier to pay for college than it is now if you’re smart about it, go where you can afford to go and work as many hours as possible. College age kids are just lazier and less motivated than they were 40 years ago.

[@TinaLeder]

Hosting a *funeral for your debt* in such a killer dress, gloves, and fascinator is my vibe~❤🤣 and I'm here for it.🙋‍♀️

[@EmmaneTheCreated]

I can't believe I was tempted to study in the US at some point when education in France is for the most part free. Good on her for paying it off 👏🏾👏🏾👏🏾

[@raconte-moialice9509]

Moi j’ai étudié en France et je suis venue aux US sans avoir à m’endetter pour la fac. Mon mari par contre a étudié ici, il a fini de rembourser ses emprunts quand notre 1er enfant a eu 13 ans. Ce système est juste horrible 😞

[@swicheroo1]

It's still tempting to study in the United States. It's where all the cutting edge research facilities--laboratories and think tanks--are located. And it's where the research agendas that define career trajectories and innovation happen. The research that made possible the Covid vaccine comes from institutions in the USA. And such mundane innovations like GPS come from the intellectual labor of those working in the USA. This is why foreign nationals still do at least a portion of their intellectual work in the United States.

[@EmmaneTheCreated]

@@raconte-moialice9509 Wouaouh c'est chaud! Mais bon le point positif c'est qu'au moins il a fini de rembourser maintenant 😀

[@EmmaneTheCreated]

@@swicheroo1 It may be for particular field. But for me the only thing it would have brought to the table is huge debt.

[@Msdufr]

For some it’s totally possible to go to the US and not accumulate a ton of debt. For example I only owe $3,500 which I can pay off at any point with my job but I’d rather wait until the deferment period is up since I can save up more and not have my loan accrue interest. And the only reason I have a loan is because I started at a private university before I made the switch to a public one.

[@JDelta87]

Congrats to her on getting herself out of student loan debt. I would have preferred to see a chart (like in Millennial Money) breaking down how much her side hustles were paying out on average per month for more context.

[@sa5624]

This doesn’t explain how she paid though? 32k in 8 months and 1k every month while making 40 000?

[@saucy05]

Bunch of side hustles apparently. She must have been working 80 hours that year.

[@nllee7051]

That's what I didnt understand as well. They need to explain much more like what were her side hustles that she paid 32,000 in 8 months

[@notanotherone5564]

Doesn’t make sense, she must have been living with her parents. Even if you work 80 hour weeks, after taxes that’s not going to be enough to pay nearly 2k a month, plus rent, plus gas, plus food, plus insurance etc.

[@hedyeherfani5729]

She said her job out of college paid her 40k. I doubt she was making the same like 5 years later when she had only 32k left.

[@Kelly_Explores]

Yeah, this video was not helpful. Just slightly motivational at most.

[@TheBlackFemaleEngineer]

Just reading the title and seeing that number gives me so much anxiety😫 Good for her for paying it off!

[@acestarone]

Same here. I graduated with 26k but the interest made it go up over time. I paid it all off 3 years ago

[@anoukc6928]

Unbelievable ! Will never study in the states

[@localwillow9948]

I had 500k in debt, in 4 years I took it all off, every single penny.

[@anoukc6928]

@@localwillow9948 crazy!!! 😱 And I worried about my 5K loan in Canada!! Ha ha

[@stefancoban59]

@@localwillow9948 Dave Ramsey would ask: R u a doctor or a lawyer?

[@Mr1wd]

An incredible accomplishment but let’s not forget the source problem of sky high tuition fees in the US.

[@jacobg8640]

And what's the source of the sky high tuition? Universities who can charge whatever they want. And why do they charge whatever they want? Because banks will be willing to lend the money. And why are banks willing to lend the money? Because the US government got involved and insured the loans.

[@blucow6677]

these videos are meant to make us feel like this is normal, there is no forgetting when its just the new norm

[@zoobrizz]

And bad /low paying degrees

[@552mustang]

@@jacobg8640 You hit it on the head.

[@pep590]

Charlie, I think you forgot a few things.

[@tonyzhang8895]

this video was missing information about her increase in salary after her first job out of college. How did she pay off 32k in 8 months and pay rent and other expenses. She had to have at least made 110k in gross income to accomplish that.

[@cmac3764]

Right a huge salary/consistent income increase and/or she had zero to minimal living expenses around years1-2 of debt re-payment. The math doesn’t add up any other way.

[@kingrose1215]

THAT'S AWESOME 😊. I paid off 238,000 in student loans and became debt free too! DEBT FREE is the way of life 🙌🏾🙌🏾🙌🏾

[@mohammedalishaikh3170]

How did u do that??

[@mhmhmmhmhm5162]

@@mohammedalishaikh3170 live like a caveman, its pretty easy when u first get going!

[@megananne904]

Wow I am also paying off 238k! Specific coincidence, I hope I can do it too 🥳

[@colorfulcodes]

😱😱😱

[@ryanc519]

how did you do it?? How much were you making?

[@swicheroo1]

Really. There is no shame in going to a community college--especially nowadays. Many people do this and transfer. If you are lucky enough to be able to live at home (not everybody can), you can transfer. A lot of people I know have gone on to do that. In some states, such as mine, community college tuition is free for residents who went through the public school system. I know people who transferred to Ivy Leagues or great State Schools with international reputations, like UCLA or U Michigan. As a college professor, this is something I tell everybody.

[@carmenmatagulay727]

Unfortunately if you are planning on pursuing anything higher than a bachelors degree, it is nearly impossible to get away with anything less than $50k in debt. I got my bachelors with a rather minimal amount in debt compared to most, but even while working through school I was unable to save a substantial amount of money. Now that I'm applying to grad schools I know there is no way for me to continue unless I accept that I will be tens of thousands of dollars in debt moving forward.

[@swicheroo1]

@@carmenmatagulay727 I have a PhD. No debt. The university actually paid me to go to school. Most people who get PhD's will get full rides, if they go to well regarded schools. I suggest, though, that you should contact professors who have served as mentors in the past. They can probably point you toward resources--and strategies---that will minimize debt. A lot happens in the strategic planning phase, which you are right in currently. Good luck!

[@carmenmatagulay727]

@@swicheroo1 Unfortunately the university paying me to go to school is not a realistic option for 99% of people. Given that grad school tuition averages about $30-40k per year totaling $60-80K just for 2 years of tuition, not including living expenses, even with scholarships and other resources it is still highly unrealistic to go through a graduate program with minimal debt. I believe the average amount of debt for grad students is somewhere in the $60-70k range. Just as you said there should be no shame in going to a community college, there should be no shame regarding the amount of debt we as students are forced to bear in order to obtain an education. Unfortunately as much as we all wish there was a way around it, there just is not for the majority of people.

[@luvyah2419]

Community college is the way to go. You save sooooo much money with the same quality of education you would've received the first couple of years at a University.

[@PrePre_]

I went this route and transferred to a university. I came out with $2,044 in debt.

[@merrymaurader2521]

That interest rate of nearly 12% is messed up. How dare the federal government do this

[@poetryaddict1]

It's most likely a private loan. Subsidized/unsubsidized loans don't charge that much. It's basically predatory lending at that point.

[@sidehustlevikki1066]

The fact that most of us are in our 30’s before we can even begin to think ab life after college

[@msg360]

same here , 35 , I got about 110k in the bank not much but its something , no student loans .. dont plan to get my masters Degree trying to land that 6 figure job so i can start investing . still not traveled yet ether or have a wife or any kids ..want to travel before i have kids etc not on a clock like most woman are but i would like to do these things before i'm 40

[@Rivs5117]

@@msg360 Bro invest your money in stocks and bonds. Don’t let it sit in the bank.

[@msg360]

@@Rivs5117 I know sooner or later

[@atlantic_love]

@@msg360 LOL yeah right.

[@msg360]

@@atlantic_love everything I said was true man

[@desultorilypanacea]

Would have liked a detailed account of how she did it. Rent, Car, etc.

[@dakingceasar88]

Parents probably

[@sdtcal]

@@dakingceasar88 did you watch the video? She did what she had to Do. Don't assume her parents helped her at all.

[@dakingceasar88]

@@sdtcal there was never a breakdown of what she did

[@chicnoir29]

No car in New York city.

[@oldcountryman2795]

Earn more spend less. There you go sweetie.

[@BrianVelez]

Felt like the video was talking to me 🤣. Great job Mandy!

[@jamesalexander780]

She is amazing! Although it was a feel good story it did make me sad to hear how much she struggled. If she had saved up $102k without having to think about loans she would already have that house she’s dreaming of buying next.

[@pep590]

I see sadness in where if she had more sense, she would have never gone into such extreme debt.

[@Ikea9292101]

There has to be a better way. I’m happy she paid it off but we shouldn’t be in this position. College degree worth 75,000 but out of school your getting paid 40,000? That’s ridiculous!

[@ibrahimalharbi3358]

Modern slave But you guys don't like the solution No Usury It was Catholic practice. Only Muslim pervert Usury

[@MsStarryNights]

Maybe I missed it...But how did she manage to pay off 32k in 8 months on a low salary in NYC? 🤔

[@anoukc6928]

They say she was earning 48K...I don't know how she managed to live on that in addition of paying off this ridiculous loan

[@cara4996]

She said at the start she was doing lots of side hussles, freelance writing, dog walking etc. Probably living off rice and beans too!

[@playgroundofsound7683]

Only fans

[@DJ11213]

@@playgroundofsound7683 lmfao.,. Man I might just have to sell pics of abs at this point

[@jonb3189]

When to school at Arizona State back early 1990s. Cost for instate tuition was $500/semester, unlimited classes. And back then we had these things called "jobs." Paid for it weekend pizza delivery and computer coding. I feel just horrible for what today's generation has to go through just to get a degree. It's criminal.

[@pep590]

Actually, you are partially uniformed. Many students go through today with no debt via a community college and scholarships and state schools. Read the book, Debt Free Degree.

[@darrylnelson05]

Attend two years at your local junior/community college. Then attend the last two years at a state university. That's the solution for not getting $75K in debt in the first place.

[@katv3116]

Exactly! I went that route and was debt free 2 months before I graduated :)

[@darrylnelson05]

@@katv3116 Your degree says the same thing as graduates that attended all 4 years. But it cost a lot less to get it.

[@tarzan12345]

University of Pittsburgh is still a “state” university but the governor and state legislature came in power over a decade ago and decided to cut a lot of funding and kinda moving away from the traditional state school model so now Pennsylvania has the most expensive public universities in the country, even for in-state residents.

[@darrylnelson05]

@@tarzan12345 Penn State still has branch campuses. Aren't those cheaper than attending the University Park main campus?

[@MrBrewman95]

Yes! I did this too and my total was $14,500 and I got it paid off in less than two years of graduating.

[@nancydavis5857]

My loans were between 5-16.5%. Private loans between 9-16.5%. It was overwhelming to have student loans accrue at credit card interest rates. I finally refinanced and got a 4.5% rate. I wish I would have done that years sooner!!! Refinance and snowball 🙌🏼

[@AngelValdovinos]

A students for for the b students 🤡

[@bam0505]

Yeah pretty crazy that the government will lend to students at over 5% but to banks at .25% (or even negative rates for a couple times in the past decade)

[@mdstmouse7]

@@bam0505 its not crazy. they want slaves!

[@sunnysunshine6271]

Cudos to her. I would have preferred more details, on how she accomplished it though.

[@Danny451]

Fans only page.

[@32starsandsugar]

@@Danny451 someone's jealous (and probably gets paid hourly ;)

[@kennedywayne2128]

Im not quite sure about the rest but I finally got mine all figured out , quite impressive if you ask me and took only 20 days

[@brianwayne610]

very true --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------I have been here for quite a while and it’s safe to say DEEPDARKWEBCRACKER411 AT GMAIL DOT C()M can be trusted when it comes to getting things like this , I’m not sure I want to share what he helped me with to the public but take it from me , it came out way better than I was expecting. Very resourceful and confident and trustworthy , I owe a lot to him to be honest

[@RICKEYDD]

forget school... it ain't worth it

[@cyrus9106]

@@RICKEYDD tell that to the people who make 400k as CFOs with their MBA degrees LMAO

[@NokthulaMadondo]

Students loans operate the same way as loan sharks. The interests on these loans is insane. If you pay the minimum you aren't going anywhere. She was very smart to come up with a strategy. I did the same with mine, after it was paid off, I could breathe again

[@jamesblunt3048]

I had to find a specialist in doing this and that’s when I understood who I was always doing wrong , you all need to make that same move

[@jessicajohnston5693]

Sorry, that sentence didn't make sense to me. Can you please try to say that again? I am trying to decide if I should get student loans or not.

[@0neofthem]

Student loans can destroy your life if you don’t pay them off aggressively after graduation.

[@atlantic_love]

that's why i'll never be able to buy a house. $35,000-40,000 college debt (for TWO YEARS of a for-profit "university") and 50 years old. I only make $40,000 per year. I'll be dead before it's paid off :(

[@cyrus9106]

@@atlantic_love ? Many people make like 100-200k and comfortably pay their debt monthly while also saving money. Why did you pick a field that paid so little? You literally sentenced yourself into working class peasantry.

[@callmeosho7792]

How are your loans over 10%... thats straight up a rip off cuz the stock market is an average of 8%. Jeez I thought my 5% was bad

[@jayman3575]

federal loans be shady like that...wouldn't be surprised if some private ones were...when I saw my first student loan bill on one of my federal loans was 12.75% I paid that sucker off that month!!! lol...

[@OneNewHope]

It HAD to be private loans. If she went to school in 2009-2013 she should have benefited from the LOWEST interest rates for Federal Student loans (~2 - 3%)

[@rdaniel4810]

Private loans can adjust their interest rates at any time. I had 2. When I paid off 1, the other loan rate jumped to 12%. I called to find out why and was told they can do whatever they want.

[@kayduff5676]

@@OneNewHope I went to school from 2012-2016 and rates were not that low.

[@OneNewHope]

@@kayduff5676 Correct, interest rates started rising between 2014 and 2015, then continued going up until COVID (and have since dropped back down). So you missed out on their lowest levels. Rates were slashed in 2009 after the great recession and started to be raised during recovery. And I guess I should have said 3-4%. The point is that Federal loans where never anywhere close to 11%. She got private loans.

[@marzellmoney1556]

It requires money to make money. this is the best secret I have ever discovered we don't make money, we EARn and MULTIPLY money

[@austinwalkers609]

Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.

[@thefootballterrace9223]

I invested in both gold and crypto but the crypto is more profitable

[@cheekycrypto5758]

The 2021 Real estate investment is good but i rather invest my money in crypto

[@frankstellin7800]

The 2021 stock market has been wired and proven difficult to invest

[@jamiemadison21]

Investing in cryptocurrency is one of the best chance of making money 💸

[@Hugehugebighuge]

Speeding thru the video trying to find out where's she's living , in her mom's basement or with 6 roommates. Lmao how you gonna afford rent in nyc and pay off the loans? Is this a joke

[@Libra8410]

She probably lived in the Bronx and had roommates

[@PSShavaria]

She said she had side jobs

[@lovehometheater]

Me too! Once I heard her say NYC I said "no wonder" she was struggling more!

[@TheMilapMehta]

@@PSShavaria That doesn't explain the numbers. They tell us what her side hustles are, not how much she makes from them and how many hours she works. The point about a lack of details is very valid. Mandy might have some great budgeting tricks that could help a lot of others or ideas on how to get + maximize hours in a side hustle for those who are in NYC. However, this video gives none of that information so nobody can learn anything.

[@John-mq4cl]

Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!😊😊.

[@John-mq4cl]

Francesca Wilson Financial is my portfolio-coach, I found her on CNBC where she was interviewed, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.

[@FantasyCid]

Interest really screws people..

[@aminemaamir5287]

Bit time, charging of interest on loans for productive purposes is prohibited in Islam because it is not an equitable form of transaction. It is considered an exploitative practice but unfortunately, it's really common even in Muslim countries.

[@FantasyCid]

@@aminemaamir5287 Totally agree. Interest is just a form of enslavement! As a Muslim I also believe it should be prohibited. The entire Capitalist system is running on interest.

[@gregcraigjreducationstorie3347]

I'm almost finish paying mine off. I was at 90,000 now I have 29,000 left.

[@cryptojargon2483]

+1 6 ,2 ,3 ,2 ,6 ,4 ,3 ,4 ,1 ,5

[@lisasmith9457]

@@cryptojargon2483 Why did number

[@xReign001x]

Sad. As a college student, you don't really think about the loans until it's too late. I went to a community college for two years and saved $30k. Missed out on the first two years at a university though then got hit with the pandemic the third. The system for student loan debt needs to be changed.

[@johnkantar8034]

Very happy for her, and wish her all the best. Love the tenacity and self reflection of her situation and owning it. Philly/NYC represent!

[@Ahamps]

Did I miss something? How’d she get the last 32k paid in 8 months? That’s 4k every month...

[@Ikea9292101]

Exactly!

[@oco987]

Girl I hear you. I just paid off all my credit cards debt after 2 years of seriously going after it. And it was exhausting. I still have student loans. But I’m going to focus on building wealth for me, snowballing my student loans and being free

[@jakstew8168]

How much do you owe in student loans?

[@jessicajohnston5693]

It took me 5 years to pay off 1 semester of loans... I am so afraid to get into that mess again.

[@dfarias873]

Shoutout to her for taking action 🙌🏽

[@carolinepayne3523]

I personally didn’t have anything till two months ago, i had to find my own way and now i can say I am proud of myself , got my credt fixed and everything planned out

[@AINATECHNOLOGYWORLD.onIG_]

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ALWAYS _DEEPDARKWEBCRACKER411@GMAILCOM_ This right here is the only possible way I know to get your credt fixd in 20 days

[@Dud-in9iu]

A less known route of student loan repayment is to join the military. The Army paid off $30,000 of my undergrad loans. I only had to pay $10,000 of a $40,000 student loan bill. They also paid 100% of my graduate school plus gave me a living stipend of $2,400/month while in grad school thanks to the GI Bill. I now have three college degrees (Bachelor's in Business Finance, MBA, and a Master's in Supply Chain Management) all thanks to the Army. I paid the second masters out-of-pocket, but got a 25% discount on tuition due to my military service and went to a state school. Total I only paid $28,000 for three college degrees thanks to the military.

[@Matt-kt9nm]

Good for you👍....Now fix our supply chain problems.

[@luke8838]

I paid 7-10k a year to attend University in Toronto. Thankfully was able to pay it off from my summer job income alone with still a lot to save. Appreciate living in Canada every second because of it.

[@ivenv3212]

I paid off $22k in student loans in about a year too. It was all undergrad loans, and something that helped me was that I was in a graduate program (full ride) which made my interest stay at 0%. That year was probably the most shittiest year on my life and because I had to go through that I hope others can take advantage of any loan forgiveness because being in a situation like that is awful.

[@junedwayne873]

Depending on one stream of income had never made any millionaire and earning check don't put you on forbes

[@jessicaallen9006]

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[@selenastout8253]

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[@worldclasscreativity6610]

I wanted to trade Crypto but got discouraged by the fluctuations in price

[@judithgarza7956]

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[@emilymichelle8605]

@David Smart Yeah, My first investment with Expert Franklin moore earned me profit of over $25,530 US dollars, and ever since then he has been deliverin

[@lubnan08]

I also had $75,000 in student loans when I graduated in 2007. It sucked!!! Our system is really terrible.

[@shmoit.v6853]

imagine if that 102k went to a index fund that return 7% on average a year...

[@michaeltorres1263]

This is amazingly terrible to think about. But the reality for so many. Myself included!

[@brimed9594]

Good for her!! 👏👏 Wonder if Graham will react to this one.

[@tavinelegore8091]

Just the video I need to see.Thank you!

[@Powaup]

Crazy... school should not be this expensive imagine if she could've poured that money back into the economy instead of something that happened in the past

[@jerrij4242]

They still didn't really explain how she paid it all off. 🙄

[@Hey_its_Koda]

How did she live in NYC and pay off loans plus cost of liviing? On top of a pandemic?

[@Marva123]

The story never explains how she paid off $32,000 in one year when she was only making $43,000 that year. After tax that would eat up her entire income. So how did she live with $0 for the whole year. I think she must have had help.

[@rallyrally]

Her first job was 40k. She would have made career moves and increased her salary over the course of 5 years.

[@spants1058]

$102k for degree for a journalism job? At a gossip rag like the Daily Beast? I mean good on her for paying it off that quickly, that’s very impressive. But she can do better, job-wise. She is absolutely getting ripped off and should look to an actual credible news organization for a job and pay raise.

[@waynerobbins1310]

Good job, mature and serious approach to a problem that baffles so many. Debt is financial suicide and this young person chose to bury the debt instead of letting the debt bury her.

[@KC-ep6sg]

It's awful that she and so many of us have to waste so much time paying off loans instead of living life. People in other countries don't have to make the same sacrifices even though the U.S. is overall wealthier. Our 20s and 20s are being stolen, and we aren't necessarily guaranteed even living to next week in this pandemic

[@shantricejones5830]

You can take the grant and decline the student loans, might take longer to pay for college but with technology today you can learn almost everything online way cheaper.

[@KC-ep6sg]

@@shantricejones5830 What grant do you mean?

[@libbyalger9220]

Love the voiceover! So much easier to understand! Thank you 🙌

[@skootermcgavin]

awesome job! so proud of her!!

[@MrIanDArt]

what a stupid system lmao. 96K in interest for education. Great job USA!

[@DALLEY_SANI]

After that, it’s housing to worry about! Our lives is full of debts, debts and more debts! Capitalism at its finest! And banks are loving it!

[@MrBrewman95]

At least you will get equity for the house. Student loans you get nothing.

[@michaeltorres1263]

@@MrBrewman95 Yes! This!

[@heatherlowry754]

I didn't have nearly as much debt cuz I worked through school and graduated in 2013. I've got a year or two left after working 2-3 jobs all this time, car accidents, medical bills, and being robbed by my roommate. I can appreciate the satisfaction that comes with the finish line

[@abbyc.4215]

Did you get it paid off?

[@nataliefontane]

She's lucky that most of her small balances were also the ones with the highest interest rates. Using the avalanche method (paying the highest interest rates first) rather than snowball saves money in the long run.

[@SkyeID]

When I graduated from a 2-year college in 1997, I had $10,000 in student loan debt. Small potatoes by 2021 standards, but big money back then, especially for someone who is a 20 year old child! I barely knew anything about loans, and that student loan debt is like a ball and chain that stays stuck to your ankles no matter how hard you try to shake it off. I didn't know that the ball & chain would make it hard for me to get an apartment, a credit card, a computer, a new mattress, and everything else that requires some sort of recurring payments. I was unable to find a high-paying job in my field of study upon graduation. So in 1998 I put the loans on deferment, and worked whatever low-paying odd jobs I could get. The loan company called me asking how much I could pay per month, and all I could do was make small payments for the next couple of years. In the early 2000's, various life tragedies beyond my control made it impossible for me to make any payments, or worry about loans at all, and the loans went to collections. In 2008 I became disabled, and at that point surviving on my tiny disability income was my main priority, because no way was I gonna pay for a student loan with the little money I got. In 2013, I learned about the student loan forgiveness program for disabled people, and with help from family, I jumped on that opportunity. The interest rate on my student loan was so high that the $10,000 debt I had in 1997 ballooned to $25,000 by 2013. Imagine if I went to a 4-year college! I'd end up like the person in this video with $100k in debt!

[@ToddBaldwin]

I love this woman. She is a rockstar. She wasn't banking on a politician making false promises about forgiving her debt. She Took on a full time job and several side hustles and she got it done! You're killing it!

[@aminemaamir5287]

Seeing that genuine relief on her face says it all... Priceless! Happy for you :-)

[@acestarone]

I remember when the student loan funeral went viral 💀😭 lol so cute

[@threewisemonkeys9723]

Congrats, 27 year old German here, studied the last seven years, and surprise, I'm debt free too

[@TheDanaYiShow]

Throwing a funeral for her loans, what a MOVE! Love the story, and great video as always :)

[@FinancialShinanigan]

The total interest you'll pay per year should be highlighted before anyone signs for a loan. Sadly, loan providers prey on people's inability to grasp long-term financial consequences to make killer profits and keep people in debt.

[@aanks]

This video really motivated me to pay off my student loans, but i only payed like 400$ for 3 years of college 😅

[@krysiunia]

I wanna know how she paid the last 30k in 8 months. They glossed over that, but that’s the most impressive part!

[@thestormview2147]

This is insane! I am from Czech Republic. I got my masters completely free!

[@gabrielsoto9209]

Hi Mandy, nice video thanks for sharing your story.

[@agustingarcia9845]

Wow, so much respect.. I can’t imagine being in her situation.. good for her

[@somethingnewhere]

The fact that a student can get a loan for 100k is so sad - corporate greed at its finest - my advice to you - get out of the USA and go to school somewhere else

[@palakchheda]

she started paying student loans when she was 14?

[@thedebt-freecollegekid2493]

Great job, Mandy! I'm so glad to see yet another young person break from the chains of their debt!

[@PracticalPersonalFinance]

Congrats Mandy!!! What an awesome accomplishment!!

[@shadorismartin]

This is REASONABLE! Most people can’t pay off over $100k in 2 years. But, those stories are very inspirational. However, with that being said, it’s good to see a relatable timeline. Congratulations girl 🎊🎁🎉

[@sundevils4953]

The system is broken

[@justicejoycetv]

*What happened to the breakdowns? Excel sheets? Manually showing the budget?*

[@thefrugalmillennial1007]

Congratulations! Debt freedom feels great, doesn't it? I made my last debt payment last month! Paid off $54,128 in 26 months!

[@romeostarlite21]

For those waiting on the government to cancel your loans, you have a rude awakening coming. I will be done with mine by the end of the year.

[@catherinen8547]

How nice for you, Romeo.

[@kimberly77ish]

After 2+ years of paying down my debts, I should be finished paying off my Student Loans by the end of April/beggining of May.

[@truegrizzlesfan2292]

I put all the extra incomes into my stocks. Since I don't have to pay student loans right away. Now if I want too, I can cash out the funds but going to wait until government do something or nothing. For me 8 months not paying student loan is great. I wish he extend it to another 8 months and I can save even more. Let's go

[@jacobg8640]

@@truegrizzlesfan2292 Stocks are risky in the short term though. You don't want to be forced to cash out during a market crash if student loan deferment isn't extended again. If you can take on that risk, go for it, but for me I'll just stockpile cash and use it towards a down payment if loans are forgiven.

[@romeostarlite21]

@@truegrizzlesfan2292 Not a bad idea, I am currently investing while the interest is deferred on my loans but as soon as they start to chip back in, I will already have enough put away to pay it off by the end of the year.

[@ew2645]

I think she was featured in an article. The pictures looked familiar

[@nae4830]

Good for you! Congrats!!

[@canadianqueen76]

Super proud of Mandy. I'm using the snowball method, too.

[@alex0424619]

People congratulating her are missing the point. NO ONE should be 100k in debt, THIS IS NOT A FEEL GOOD STORY PEOPLE.

[@katharina6523]

Its insane how much debt the students in the USA have. I live in Germany and cant even imagine it, because I dont had to pay any debt. I think everyone should have the opportuniy to study for free. My respect how fast you paid this back, thats really not easy.

[@Aj23427]

Absolutely amazing!

[@chrisnosewicz5286]

About to enter college, should i choose a full ride at a state university or graduate with around 80k of debt from a top school (think Vanderbilt, Georgetown, Notre Dame)

[@hillary1622]

Depends on what you are studying and what post college salaries are like.

[@Mark-gx1ee]

The school you went to will be irrelevant 5 years after college. I would recommend the free ride.

[@michaeltorres1263]

FREE RIDE! Please, do that. You won't regret it at all. As a recent graduate, and just this person's story should show you the absolute burden debt is on any person's financial future. I'm a software engineer, and my student loans are still a problem. It's a problem for everyone with them. Also, that 80k will be more when you graduate. While I was at college, the tuition price was going up. Expect that at any of those colleges as well.

[@SarahMSays-ky9bl]

Free Ride.. and if you just want to waste a lil money on the name of a school then transfer to the big name school your senior year.

[@woah455]

Free ride.

[@clindevconsultant]

Makes me feel like I'm not alone when I was paying off loans aggressively :) I also had about 75k without interest I believe

[@SkyeID]

At least you don't have interest.

[@clindevconsultant]

@@SkyeID oh I had a lot of interest. I just couldn't remember the interest amount lol.

[@clindevconsultant]

@@SkyeID my apr ranged from 4.2-8.5% I believe

[@javengilmore4801]

I'm glad for her, but how did she pay off $32,000 in 8 months on a $40,000 annual salary and still pay for her living expenses?

[@tessy28]

40k was her FIRST job out of college. I am sure she got a better job that she was able to have spare money to throw at the student loans. She mentioned making career moves specifically geared towards her paying off her debt.

[@javengilmore4801]

@@tessy28 Then why didn't they tell us how much she was making with her other jobs? I think they mentioned the $40,000 salary because that's how much she was making at the time when she was paying off her debts.

[@tessy28]

@@javengilmore4801 she did say she was picking up a ton of side hustles.

[@javengilmore4801]

@@tessy28 yeah, probably. I guess no reason to think too much about it.

[@veroniquevesta7516]

The disgusting bloated cost of University is the problem 😕 We have to stop enrolling and stay home at community College. The more we feed this monster the bigger it gets

[@BB-ux5wd]

how did she do it?

[@rozannab9701]

My husband changed careers which required full time school for 3 years and has 160k left :/ he came from a low income background so there was no help with anything. We got married while he was in school!

[@magicfamily123]

It is so nice that you married out of love :)

[@Melbester9]

@@magicfamily123 Yup. That's what it's supposed to be.

[@JoshIsOnAMission]

this was impressive, im on the same path. thanks for sharing your story

[@gugunanak134]

An inspiration for many!!

[@telegraphkid]

Well done to this young lady, no trust fund just hard work and she turned her life around - you smashed it, hats off!