Earlier this month, CheapTickets surveyed 500 U.S. residents aged 22 to 32 who have (or are preparing) college degrees, and found that about 70% of them would travel more if they didn’t. student loans. Plus, about 25 percent would prioritize travel over other expenses if they didn’t have to worry about their student loans for an entire year.
Although many federal student loan payments have been suspended over the past year as a pandemic relief measure, travel has also been largely suspended. Now that things are starting to open up again – the EU, for example, lifts travel restrictions for fully vaccinated tourists – CheapTickets is sponsoring a competition to cover student loan payments for five happy former (or current) students travel.
Using a study by the Federal Reserve Bank of New York, the agency landed on $ 393 as the average monthly student loan payment for college graduates, meaning the annual sum rises at around $ 4,716. This is what you will receive if you win, in the form of Visa gift cards. While you don’t have to spend the cash prize on your dream vacation, this is certainly a great opportunity for a guilt-free jet set, especially since the winners will also earn $ 250 in CheapCash from CheapTickets, which you can use to book hotels across the globe.
To be eligible, you must be at least 20 years old, live in the United States, and be enrolled or have completed a college program. The application is open until June 6 and the winners will be drawn around June 10.