He Paid Off $70k In Debt – Could You Use This Trick?
(DailyDig.com) – Higher education comes at a cost that many Americans can’t afford, forcing many to get student loans to pay for their tuition and fees. Unfortunately, it can take years, if not a lifetime, to pay off those loans. However, a graduate named Pathik Oza has shown that college debt doesn’t have to be a lasting burden.
Oza graduated from Rutgers University in 2018 with $70,000 in student debt. However, rather than look for someone to bail him out, he put in the necessary work and started a business selling used books.
NJ college graduate pays off $70K in student loans by starting used book business https://t.co/FgZALHM1qE
— FOX Business (@FoxBusiness) May 31, 2022
Oza recently told Fox News that he started his business after working as a volunteer, distributing used books to libraries, shelters, children’s hospitals, and schools. Oza eventually started selling used books, turning it into a side gig. His company, O3 Books, took off during the COVID-19 pandemic, and Oza says he made $115,000 by the end of 2020, more than enough to pay off his student loan in full.
Oza’s experience stands in contrast to recent calls for President Joe Biden to cancel some or all student debt. Republicans and a number of Democrats consider debt cancellation as a horrible option that would cost the federal government entirely too much money and could contribute to the current inflationary trend.
What do you think? Is the type of success Oza had something other Americans might be able to duplicate, or a lucky fluke? Do you think the Biden administration will do anything else about student debt? Should they? Let us know what you think.
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