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Raising Money to Pay Off Student Loans the Old Fashion Way, By Asking Strangers for Money on the Internet

Getting a graduate degree in anything is expensive, but perhaps that becomes even more daunting when you receive an MFA instead of an often potentially more lucrative degree in nearly any other field. Such is the case with recent Bard College MFA recipient David Horvitz, who has found himself with just over $58,000 to pay back in student loans. In a move nearly as old as the internet itself, he’s taken a page from the original asking-strangers-for-money success story, Karyn Bosnak and her Save Karyn blog, and has launched a project called “fifty-eight cents.” After confirming with loan administration company Sallie Mae that his repayment checks could come from anywhere, just so long as his 10-digit account number is included, he’s asking for 58-cents from anyone who will spare the spare change. It’s certainly not the most original idea (Save Karyn, after all, launched a billion copycats, as did the Million Dollar Homepage and almost every other money-making internet meme), but who knows? We wish him the best of luck, and if there’s any extra cash left over in the end, we’d love to have a chunk to pay off some of our own student loans.

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