Andrew Magbee has become a role model for many college going students who are struggling to repay their loans. The 24-year-old Southwestern Christian University senior made his final tuition payments in pennies (nearly 100,000 coins). He said that saving every cent can help ease financial woes.
"I'm paying my last school payment with pennies. It kind of reminds me and will remind me in the future that every little penny counts," Magbee told KOTV in Tulsa. "It's very freeing, knowing that you've graduated without debt."
Magbee said that he was always willing to perform the dirtiest, odd jobs to make ends meet. About $25,000 of his entire college bill was paid by working - running errands, mowing lawns, fixing window screens, painting houses and collecting aluminium cans for scrap metal among others.
The soon-to-be grad in Oklahoma saved enough to establish his own business - the First Floor Café near N.W. 50th and Grand, where he tries to "make the best sandwich I can."
Magbee said that goals can be accomplished with a focused mind. Plus, students need to practise conscious spending and be ready to work hard for a peaceful college life.
"Encourage them (high school students) to think through the process of financing their education, how they are going to do it and what they are going to pursue to make that happen," the business major said, wday 6 reports.
In January, Alex Benda, a soon-to-be graduate of the University of Michigan, came up with an interesting idea to repay his $30,000 education loan.
Benda, a 22-year-old Flint international business major, is selling 1-inch by 1-inch ad space on top of his graduation cap for $300 each. However, he said that he will not be selling space for offensive advertisements.
"You can advertise on it, give a shout out, put a quote, a silly image of your cat, practically anything! It's scary to think I'm about to go out into this economy and try to find a job and have all this debt I'll have to start paying," said Benda of St. Clair, Mich, USA Today reports." He is set to graduate on May 4th.
