New Game Show Helps Graduates Pay Of Their Debt
A new game show is tackling the growing student debt crisis by helping to pay off contestants’ student loans.
Paid Off premiered on TruTV in July, a half hour game show sporting three new contestants every episode who each have thousands of dollars in student loans to pay off.
The first round is like any other game show. Three players answer easy questions each worth $100 by being the first person to hit their buzzer after the host reads the description.
After each round the questions get harder and worth more money. The good news is should a player get a question wrong they are never deducted from their total.
After the second round the contestant with the least amount is eliminated and the last two compete to the final round. The final round allows the winner to completely pay off their student debt.
Every player goes home with their winnings and are even encouraged to contact their congressman using their direct-line phone on set.
The last man standing answers questions during a 60 second fire round. With every correct answer they inch their way closer to getting their debt paid off 100 percent.
Over 44 million Americans owe roughly $1.4 trillion in student loan debt, according to Forbes. The average loan payment each month for those between the ages of 20 and 30 years old is $351 per month.
Host Michael Torpey came up with the idea for Paid Off after he and his wife both struggled to pay off their student loans. After booking an underwear commercial, Torpey was finally able to pay off his debt.
But that silly stroke of luck just doesn’t happen to average Joe’s everyday so, Torpey decided to create Paid Off to help the growing student debt crisis.
And it’s not just the three lucky contestants who get a check cut for their winnings, one audience member also gets to play a game for a cash prize.
Paid Off airs Tuesday’s at 10/9c on TruTV.