Copyright WEAU
(InvestigateTV) — TikTok challenges are popular and fun – from the “Yeehaw” challenge to Duets to Cha-Cha Slide – and now a new challenge is education debt. It’s called the ‘payoff my student loans’ trend. Some creators on the platform are now earning money toward their student loans through TikTok’s Creator Rewards Program. Robert Farrington with The College Investor looked into the craze. He said creators that have at least 10,000 followers and 100,000 views in the past month can start to monetize their platform. “These creators are simply getting on there and sharing their stories about how they got student loan debt, how they’re paying it off, what they’re working on,” he explained. “And a community has emerged to support each other. Where they’re following each other. They’re liking their videos and sharing their content, all with the goal of helping these creators earn money on the platform to pay off their student loans.” Farrington has always been a fan of side hustles to pay off student debt, and he said this is the ultimate one. It’s talking about the problem to help fix the problem, all through social media. “I think it also goes to show how earning small amounts can go a long way,” he noted. “These videos might not earn a ton of money but if you can earn an extra hundred dollars, two hundred dollars a month and you put that towards your loans. You can start seeing significant progress over a couple of years.” Farrington said to find users talking about their student loans, search for ‘#payoffdebt.’ He said while student loans are a main topic, there are also stories of people paying off credit card debt and car loans, all the same way. Submit story tips to our Investigators Share errors or concerns with our Digital Editors Watch full episodes of InvestigateTV+ Subscribe to the InvestigateTV YouTube Channel
