Would You Live in a Van for a Couple Years to Pay Off All of Your Student Loans?

Source: Yahoo! Finance

Source: Yahoo! Finance

I found a really cool story on Yahoo and I just had to share!  Ken Ilgunas, like many of us, was being swallowed up by student loans, but he refused to live a life of being in debt.  He decided to move to Alaska and pick up local jobs and lived where room and board was paid for completely.  Ken had a $9/hr job for the first year, which helped him pay off $18,000 of his $32,000 student loan. After 2 and a half years, he was totally debt free!  Well, it doesn’t stop there.  Ken decided to go back to school, but refused to make the same mistake twice.  To avoid needing student loans, he bought a cheap van and camped out in a deserted parking lot on Duke’s campus where he lived until completing his Master’s.  How amazing?!

Check out Mandi Woodruff’s article, detailing exactly how Ken Ilgunas made a debt free life for himself.

Click Here to Read About Ken’s Debt Free Life


  1. Good on him. You gotta do what you gotta do to make Debt Free happen! It is a pretty drastic measure, but I bet he would say worth it in the end. I can’t WAIT for the day I am debt free. In the middle of my own war on debt at the moment – and have had to make lifestyle changes, not quite as drastic as living in a car, but it will all be worth it when my credit card and loan balances = $0.00- YAY!

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