Ahh, student loans. For a lot of people, it's the debt that keeps on growing. More than 40 million Americans have some form of student loan debt -- all together totaling over $1 trillion.
The Class of 2015 has set a student debt record with an average of $35,000 in loans each, but there's at least one program that wants to help young people move on from their financial ball & chain by literally moving.
Some cities and states are offering money to Millennials to move to parts of the country that don't usually attract the younger generation. The programs are trying to reverse the trend of declining populations in rural areas of America like Kansas or in urban cities like Detroit.
If you're willing to move to some of these places, you can get money to put towards a house or they'll help you pay off your student loans directly. But if moving to an unpopular place doesn't sound like a good deal, maybe you should check out places where you can get the best deal for your money.
For instance, if you had $1,000 to spend on rent where would you get the biggest bang for your buck? It’s no surprise that in Brooklyn it'll only buy you a 300 square foot studio.
Compare that to the 2-bedroom apartment you can get in Denver, Colorado for under a thousand dollars, and it's got a pool!
If you don't mind paying a little extra, you can actually get a 3-bedroom house in Cleveland. You'd likely spend at least $1,500 in Fort Worth to get the same thing.
So shop around and save.
Looks like you can change your student loan situation for the better just by changing your scenery.