$114,000 Debt Paid In Cash
May 28, 2012 by staff
$114,000 Debt Paid In Cash, Last week, a Reddit user posted a photo of a $114,000 student loan bill – paid in cash – that elicited thousands of comments and dozens more when it was posted at businessinsider.com. Since then, the anonymous alum has stepped forward as Alex Kenjeev, a 2009 law school graduate of the University of Toronto.
Kenjeev, who works for venture capitalist firm O’Leary Ventures, told Business Insider the $114,000 payment was the last chunk left of $190,000 in loans he took out during school.
He’d spent years dragging out his payments while pouring most of his income into a start-up. As for why he paid in cash, Kenjeev said he wasn’t proving some point about the dangers of credit cards or trying to show off. He just thought it’d be really funny.
“It was stressful enough to carry such a big debt load. I thought it would be worth getting a few laughs out of it,” he said. “Neither bank thought it was as funny as I thought it was.”
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