There’s good news for working professionals who are still looking to get rid of their college debt, even though it’s been over 15 years since their graduation. Fortunately, there’s a new game show that is helping students pay off their student date.
Called Paid Off, you can answer trivia questions until one contestant wins the ultimate prize: an opportunity to pay off your student debt. The show if a Family Feud-style concept where instead of winning cash to take home, you win cash to pay off your debts.
Given how common student debt has become, the show’s producers are hoping that it will help convince people to talk about the challenges they face when dealing with it. At the beginning of each show, the contestants introduce themselves by first talking about their major in college, the amount of student debt they have and what kind of hardships they have faced over the years because of it.
What makes Paid Off so unique is that it’s a show that many new Millennials will understand and even relate to. Older generations, though, might have a harder time tuning in simply because the concept of having so much debt might seem too foreign to them. Over 40 million Americans face the same dilemma each day, and that is how to pay off their student loans as fast and painless as possible.
“This game show couldn’t have happened 20 years ago, it would have made no sense for a previous generation,” Mark Huelsman, a senior policy analyst at Demo, told MarketWatch in a new interview. “It wasn’t the part of everyday life that it is now.”
For many post-graduates, this might be a tempting reason to join the show. Students in the United States have amassed over $1.5 trillion dollars in student loan debt. That’s an average of $37,200 per student. For many people, it takes them years and sometimes even decades before they pay off their debt.
After all, getting a good job with a decent salary is only half the battle. Getting a good job, paying your bills on time , saving money and still having enough to pay your debt on the side is a whole different story. Many working professionals struggle to shake off their student debt, as it oftentimes puts a huge financial strain on their monthly budgets.
Paid Off debuted on July 10 on TruTV.