Millennial Crushes $80,000 Student Debt with Extreme Frugality and 10 Side Hustles

Millennial Pays Off $80,000 in Student Debt with Ultra Frugal Lifestyle and Side Hustles A 25-year-old millennial has made headlines for paying off $80,000 in student debt by adopting an ultra frugal lifestyle and working multiple side hustles. Bradley, who declined to give his full name, achieved this feat despite earning over $18,000 a month. According to an interview with Fortune, Bradley's journey began when he graduated from the prestigious Culinary Institute of America with $134,000 in debt. With interest, the total ballooned to around $147,000. His monthly payments were projected to reach $1,500 while earning only $12 to $13 an hour at his first farm-to-table restaurant job. "I have to completely overhaul my life," Bradley said. "I'm not living for myself anymore; I'm living for paying off this debt." To achieve his goal, Bradley implemented drastic measures, including unplugging his fridge and relying on a mini-fridge instead. He also worked 10 side hustles, including dog walking, house sitting, and freelance writing. "I was making $1,500 a month at my restaurant job, but I was spending over $2,000," Bradley explained. "I had to get creative and find ways to make extra money." Bradley's story highlights the growing concern of student debt in the United States. According to a report by the Institute for College Access and Success, the average student debt load is around $31,300. "Student debt is a major issue facing many young adults today," said Mark Kantrowitz, a financial aid expert. "It's not just about the amount of debt; it's also about the interest rates and repayment terms." Bradley's success has inspired others to take control of their finances. His story serves as a reminder that with determination and hard work, even the most daunting challenges can be overcome. As for Bradley, he continues to live in "survival mode" despite his financial progress. He remains focused on paying off the remaining $8,000 in debt and building a stable financial future. "I'm not out of the woods yet," Bradley said. "But I'm getting closer." Background: The Culinary Institute of America is a private culinary school with campuses in New York, California, and Texas. The school offers associate's and bachelor's degree programs in culinary arts, as well as certificate programs in specialized areas such as baking and pastry arts. According to the Institute for College Access and Success, the average student debt load for graduates of the Culinary Institute of America is around $34,000. Additional Perspectives: Financial experts recommend that students prioritize needs over wants when it comes to managing debt. They also suggest exploring income-driven repayment plans and refinancing options to reduce interest rates. Bradley's story has sparked a national conversation about student debt and financial literacy. As the cost of higher education continues to rise, many are calling for greater transparency and accountability in the financial aid process. Current Status: Bradley's debt payoff journey is ongoing. With his remaining $8,000 in debt, he remains focused on building a stable financial future. "I'm not just paying off my debt; I'm also building a safety net," Bradley said. "I want to be prepared for anything life throws my way." As for his advice to others struggling with student debt, Bradley emphasizes the importance of taking control of one's finances and seeking support from experts when needed. "Don't be afraid to ask for help," Bradley said. "There are people who care about you and want to see you succeed." *Reporting by Fortune.*