$47,000 in Student Loan Debt Paid Off – This Dreamer is Free

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$47,000 in Student Loan Debt Paid Off – This Dreamer is Free
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Amanda Paige caught my eye with this tweet celebrating her freedom from student loan debt.

Overpaid Student Loan Debt


With $1.62 back in her pocket, Amanda has realized a dream of being free from student loan debt. She paid off $47,554 dollars when she got down to business and focused on removing student loans from her life.

Like many of us, she followed that well worn path. Get a degree and finance it. Get a second degree – finance that too. Before she knew it life caught up with her. She was struggling to make a dent in a mountain of credit card debt while paying student loan payments like a perpetual car note.

Working as an adjunct professor, stitching together a string of part-time jobs, Amanda realized she needed a plan. She’d paid off a whopping $1,000 of her student loan debt balance after 8 years making payments.

Ironically, a statement from her mom, “I’ll probably just die with debt”, spurred her on to action. She dreamed of a life beyond working to make the minimum payments.


Use Your Resources to Tackle Student Loan Debt

Amanda’s story is extremely encouraging. She put a plan in motion and shortly after reached her goal. She looked at what sacrifices she could make and skills she had to bring in more income.

Everyone won’t be able to move in with a friend to cut living expenses. However if you can, seriously consider that option. We all have to scrutinize our expenses, figure out what is a nonessential, and exploit your skills to make more money.

Amanda is single with no children, so becoming a roommate made good sense. My other guests have been similarly creative to tackle significant amounts of debt.

  • Joe Mihalic worked odd jobs, founds roommates on Craigslist, and partied frugally to pay back $80K in student loan debt in less than 1 year.
  • Aja McClanahan moved her family into the “hood” to receive a mortgage free house once owned by her grandma. They paid off $125K of debt.
  • Aja Williams was raising a son as a single mom and reassessed her lifestyle to repay $130K of debt.
  • Rachel Gause is another single mom of 3 who’s done two tours in Afghanistan. She carries assault weapons, but has done the biggest damage to $180K of debt now that she’s debt free.


Topics Discussed in this Episode

I share these debt free stories to provide encouragement for your debt free journey. Your experience will not look like anyone else. Take inspiration from their success, but please don’t compare yourself. While it’s exciting to know that $47,000 can be dumped in just over a year with hustle and determination, run your own race.

  • Amanda shares how she generated up to $70,000 last year with part-time jobs and side hustles to eradicate her student loan debt.
  • We talked candidly about her bankruptcy and how that process helped her develop a sound financial outlook. Remember folks, student loans can not be discharged in bankruptcy.
  • How she used a blog to stay focused on reaching her financial goal.
  • Cheez Its – her debt free muse.


Comparison is the thief of joy. ~Theodore Roosevelt



Resources Mentioned in this Episode

Student loan borrowers with private loans and high interest rates should chat with the folks at SoFi (Social Finance). They offer fixed rates for student loans starting at 3.5%. You pick the loan term. The could care less about your FICO score.

Get a loan rate in 2 minutes SoFi.com.

This post does feature referral links from SoFi. All opinions are my own. I only affiliate with companies that will enhance the debt free journey. Full Disclosure Statement

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