Are you financially strapped this year because of student loan bills? Are you struggling to pay the bills AND juggle Christmas gifts this year, all the while trying to pay down a large student loan debt? If you answered yes, you are definitely not alone!
While everyone else in your life is spreading holiday cheer and wracking up Christmas debt, many of us are just wondering how we are going to pay off our massive student loan debt. It’s no wonder- millions of students and graduates are dealing with student loan debt over $20,000. Making the minimum payment each month barely seems to put a dent in the amount, especially when you can’t find a great job right out of college. What would really help many people this year is if instead of getting candles for Christmas, they would get cash to help pay off student debt. The days of it being taboo to give cash are gone!
Why Giving Cash is the Perfect Gift
Many people still insist that the gift of cash is a tacky one. In fact, LiveAbout even included cash-giving as one of the six worst presents that you can give. But, surprise! Most cash-strapped students who are drowning in student loan debt think that having a chunk taken off of their balance is a great gift idea.
A recent survey by the Student Loan Report confirmed what many people are already thinking. They surveyed 1,000 men and women with student debt to find out whether they would like to receive a present or a cash payment towards their student loan of equal value for the upcoming holiday.
The results aren’t surprising to many of us! Over 69% of those surveyed stated that they would prefer having a part of their student loan debt paid off in lieu of a present this year. They would choose cash over the newest iPhone or the latest gadget! So if you have a student or recent graduate on your shopping list this year, save the gifts of socks, candle gift sets and alumni license plate frames and instead choose to give cash. You’ll be giving a gift that will not only be useful, but also much appreciated!
Creative Ways to Give the Gift of Cash