Student Has College Debt Paid Off by Givling

Givling-Photo-964x644Since ‘college’ and ‘expensive’ have essentially become synonymous terms, students and grads will take any opportunity to get some relief from their staggering amounts of student loan debt. There are plenty of lawmakers and other organizations looking for ways to solve the issue of this immense amount of debt, but some advocates are really getting creative. For example, some debt-ridden students might find relief in an unlikely niche of their peers: online gamers.

A recently-developed online game called Givling charges gamers to play and puts students in need in a queue to have the revenue generated from the game put toward their debt.

How it works: gamers sign up and are randomly assigned to a team with two others. They pay 50 cents per round, plus a 30 cent transaction fee, and can play one game for free per day. They answer a series of true/false questions in order to earn points, and the team with the highest amount of points becomes eligible to win a prize of $4 million. They can also win smaller daily prize amounts.

So far, one student has had his college debt paid off in full. The student’s name is Kevin James Foster, and his debt amounted to $31,625. Next in line is Tobin Jack Hale, and $25,220 has already been raised to be put toward his debt.

Americans currently have more student loan debt than any other type of consumer debt. As of this year, students are collectively $1.16 trillion in the red. It certainly doesn’t help that, according to a recent report, the majority of US states – all but Alaska, North Dakota, and Wyoming — have cut their higher education budgets by a significant amount, meaning that more and more of this debt is falling on the shoulders of students and their families.

Creative endeavors like Givling and less expensive online college courses help students who were affected by the budget cuts that became necessary due to the recession, but hopefully the state and federal government fixes the cracks in the foundation of higher education sooner rather than later. State colleges and universities are already eliminating the programs that students and their families have once relied upon, increasing the burden and decreasing the motivation to get education. Some schools, like Louisiana State University, have plans to declare bankruptcy due to budget cuts. Students need to take help where they can get it, and while projects like Givling are kind-spirited, they don’t solve the bigger issue at hand.