How I Pay My Student Loans
Student loans are a pretty hot issue these days. On the one hand, many people believe that
those of us who borrowed the money and went to school with it should be held
responsible for its repayment. At the same time, many people with large student loan
debts feel they have been given a bad deal. When they took out the original loans (at 18
years old) they didn't know that the job market was going to be horrible when they
graduated, or that they'd be stuck working at a fast food restaurant to dedicate their entire
checks to loan payments. They feel they've been preyed upon by lenders and that their
lives are a modern form of indentured servitude.
I used to be in the camp that thought that student loans were a scam and that there should
be some sort of forgiveness. I graduated with about $75,000 worth of loan debt, and was
lucky to find a job right away. Unfortunately, that job paid about $30,000 a year... not
exactly making it easy to meet my monthly payments.
What changed my mind was when I realized that a particular hobby I had picked up could
help me pay my student loan bills each month.
I'd had a kindling interest in web design for a few years, but just never found the time to
pursue it. After I finished school and was working regular hours, though, I began to pick
up on it more and more.
And I realized how absolutely SIMPLE it really could be. After studying a little, I found
that putting up a basic site could be done in just an hour or so. And then, that basic site
template could be reused over and over to make as many sites as I wanted.
The real breakthrough came when I found out that Google and Amazon would actually
PAY me to put their ads on my site. I knew I had struck gold, and I haven't looked back
Since I started making these sites I haven't made a single loan payment out of my
paycheck. Every dollar that goes to student loans comes from the sites I make.
My hope is that being able to pay student loan bills is just the beginning of my journey
into making money on the internet. The long term goal I have set for myself is to quit my
job by March 8, 2013 and dedicate myself full time to my internet business.
Responsibility is a value that is particularly important to me. Although I still feel like
student loan companies are predatorily lending to naïve kids, I do think that it is my
responsibility to pay off the debt I have amassed. And now I feel like I am meeting that
responsibility. By spending less than 2 hours every day this project is yielding over $500
In the end, no matter what your opinion of the student loan industry may be, there are
ways for those of us in this contemporary servitude to break free from the financial
chains and live lives we're proud of.