By: Nasha Smith
Recently, President Joe Biden called for $10,000 in student debt forgiveness. Some, like Senator Elizabeth Warren, have called for up to $50,000 in debt forgiveness. Others are advocating for total debt forgiveness. While the student loans debate rages on, CheapTickets has entered the chat.
The online travel services company is doing its part to lessen the financial burden with its Student Loan Vacation Sweepstakes. CheapTickets will pay a year’s worth of student loan payments so that five recent graduates can focus on traveling the world.
Starting from May 21st to June 6th, 2021, recent graduates can enter at CheapTickets.com/students for a chance to win this welcome reprieve from student loan debt. The winners will receive $4,716, which is the equivalent of 12 months’ worth of the average student loan payment. As a bonus and to get you started on your wanderlust journey, CheapTickets will add an extra $250 worth of CheapCash travel money that can be redeemed at thousands of hotels worldwide.
The statistics are staggering. Americans owe a hefty $1.7 trillion in student loans, leaving the average college graduate with a monthly debt payment of $393 after graduation. With numbers like these, student debt forgiveness would impact nearly every aspect of people’s lives.
CheapTickets conducted a survey to find out how student loan debt affects the lives of school-leavers. They found that 70% of graduates aged 22-32 believe their student loans prevent them from traveling more, with another quarter of respondents sharing that they would spend money on travel before making large purchases or investing, if they didn’t have the commitment of paying their loans for a year. An estimated 1-in-5 respondents would give up amenities like streaming services and even major life milestones like a wedding in exchange for graduating from college debt-free.
Millennial money and career expert Tori Dunlap weighed in on the ongoing student loan debt conversation.
“Student loans are keeping millennials from being able to live the lives they want, including travel,” said Dunlap. “With over 2/3 of Americans’ student loans being held by women, I love that CheapTickets is focused on helping them pay off their debt— one step closer to financial freedom!”
For more information about the Student Loan Vacation Sweepstakes visit CheapTickets.com/students.
Picture: unsplash/Ibrahim Rifath