It’s like “Who Wants to Be a Millionaire”, except the questions are asked on your phone and the prize is getting rid of student debt. Givling is a new trivia app that has been designed to help people struggling with their student loan debt. So far, 400,000 people have registered and downloaded this new app onto their phone.
Questions relating to pop-culture, math, chemistry, and other college subjects are asked. Users who have this app are randomly given questions they must answer. There are different rounds of questions of varying difficulty. Prizes for answering the questions are paid out weekly. Seth Beard is the Chief Marketing Director of Givling.
Beard says over $5 million has been given out in the past few years so far. Over 5,000 people have won prizes that are designed to help people overcome their debt. Whether it’s a high mortgage or student loans, people are drowning. Apps like Givling help give back to those who are struggling the most.
“Nearly 45 million Americans are in debt from their education. The average student now graduates $30,000 in the hole, compared with $10,000 in the early 1990s. The average borrower takes between 16 years and 18 years to pay off their debt,” said Mark Kantrowitz, an expert on student debt.
Student Loan Desperation
Cynthia Thomas Reher was told about Givling by her boss, who knew she had racked up quite a bit in student debt. Between her and her husband, they owed over $400,000 worth of debt. They went to the Ross University School of Veterinary Medicine. Thomas Reher, says she loves her job, but was blindsided by so much debt after she graduated.
“I enjoy what I do,” Thomas Reher, 42, said. “But I had no clue what I was getting into. How can you when you’re young, have never worked a day in your life and have no idea what the cost of living is?” So, they gave Givling a chance and started playing back in 2015. “I figured there was nothing to lose,” she said.
The company makes money two different ways. The first is through advertisements. As you go through the quizzes and trivia, you will have to watch an ad at times. The second way is by pricing beyond two rounds. You get the first two for free each day, but afterward it’s $.50 per round. It resets at the end of the day and the next day you get two more free rounds.
Not thinking she had anything to lose, Thomas Reher logged on and played every single day. After four years, she and her husband are making enough money to pay $3,000 towards their student debt every month. “Making ends meet was hard,” she said. “Student loans have kept us driving 15-year-old cars, delayed us getting into a house,” she said.
This is what many young adults feel today. They’re putting off major life decisions until they’ve properly paid off their student loans. Maybe apps like Givling will help more people, even if it seems as if the government will not.
