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How Far Would You Go to Get Rid of Your Student Debt? [Infographic]

The dire situation of student loan debt is no mystery to the millions of Americans who expect to be saddled with this debt well into middle age. Recently, members of the MyBankTracker team were cas...

The dire situation of student loan debt is no mystery to the millions of Americans who expect to be saddled with this debt well into middle age. Recently, members of the MyBankTracker team were casually discussing their very own burdens regarding student loans and an interesting question came up: What extreme measure would you take to eliminate your college debt?

That’s why we polled 200 MyBankTracker readers to see what they were willing to do in order to obtain the funds to pay off their student loans.

Interesting findings

In order to earn more money towards debt repayment:

- More than half of respondents would give up their privacy and participate in a reality TV show

- The majority of respondents would not sell their material possessions

- About one-third of respondents would jeopardize their health

What we think

While MyBankTracker does not condone the use of these extreme measures, it’s interesting to see the percentage of respondents who would resort to them -- it shows there are plenty of people who strive to erase their student loan debt as soon as possible.

We always believe that consumers should adapt to their own unique financial circumstances with solutions that best fit their needs.

For borrowers who face economic hardship, there are ways to reduce or postpone student loan payments through deferment, forbearance and income-based repayment programs, which we explain here in more detail. However, despite these options, people just want to pay off their loans -- and not simply skip out on their student loans altogether.

Check out the infographic below to see the results of the poll:

Student Debt Infographic

Methodology: The data was collected from an ongoing poll of 200 random MyBankTracker readers who responded from July 14, 2015 to August 7, 2015.

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glorkohl
Saturday, 10 Oct 2015 2:39 PM
<p>Glad I am in my sixties as well. Sadly, my children will never have houses- they have no student debt but without an Ivy degree it's into the beige cubicle for barely above minimum wage and no way that earnings compete with prices. Sadly, the economy has destroyed the American future- but hey- China and Europe are doing great ! Student debt, what student debt ? They are in full career mode and pay by age 25- who did they learn it from?</p>
johnnieonthespot
Friday, 11 Sep 2015 8:28 PM
<p>I'm so glad I'm 75 and not 15 ! <br>What happened to respect, discipline, love, pride and that lost art, "THE WORK ETHIC ?"<br>The so called graduates, with their worthless diplomas, are back home with mommy &amp; daddy.<br>No job, no income, same bed room, using parent's credit card, food, vehicle, etc....<br>Admit it, you've been duped, used, abused and played.. Mom &amp; Dad saved, helped with your education/party and now, because your major was a very common one, you can't find a job.<br>I joined the U.S. Navy. My training, electronics, was free. No debt !! I traveled all over the far east, free !! After I was discharged I was in demand. It was very easy to find a job. <br>Sheeple, easily herded, all needed is a good dog !! Amen.</p>

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