With total student debt in the U.S. reaching $1 trillion, some college grads are going to the extreme to pay off loans.
Joe Mihalic, a graduate of Harvard Business School, decided it was time for his $90,000 in remaining student debt to go, according to the Huffington Post. The grad managed to pay of his debts in a little more than seven months.
Mihalic realized the interest on his student debts would mean he would be paying his debts for the next 10 years.
The grad went on a financial crash diet by cutting expenses, stopping his 401(k) contribution and selling unnecessary possessions, like motorcycles and other items.
He also got two roommates and started a landscaping business with a friend.
The last payment was made on March 29, 2012. Mihalic documented his efforts through his blog, “No More Harvard Debt.”
Mihalic holds a six-figure job at Dell in Austin, Texas, where he’s been since graduation.
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