$114,000 Debt Paid in Cash: Mystery Student Steps Forward

    May 24, 2012
    WebProNews Staff
    Comments are off for this post.

A $114,000 debt paid in cash has left a lot of people stumped. Who would do such a thing? they wondered. More importantly, why would someone go through the hassle of paying off their student loan in cash? Was this person trying to prove a point? The whole ordeal, which was brought to the attention of the masses courtesy of a Reddit post, was quickly blown out of proportion by those who felt the gentleman in question was attempting to flaunt how “rich” and “successful” he was.

Business Insider, inspired by the sheer number of comments their article received, decided to track down the culprit. Enter Alex Kenjeev, a 2009 graduate from the University of Toronto and venture capitalist for O’Leary Ventures. Kenjeev thought it would be amusing to pay off his debt in cash, and decided to post the receipt of the transaction to his Facebook page after the fact. However, everything changed once someone shared the image with the Reddit community.

“I was feeling very good about finally being debt-free,” Kenjeev explained. “Some people have taken it pretty offensively. I actually think they have a point. It hadn’t really occurred to me.”

The reason he doesn’t feel that great about being debt-free: public reaction. The litany of insulting comments aimed directly at the successful graduate was almost instantaneous; individuals who claimed to have attended law school with Kenjeev began to take shots at the poor guy, all because he had enough money in his bank account to rid himself of the school loans hanging metaphorically above his head.

Here’s how the whole thing went down: Kenjeev stopped by his bank and, after a few days of processing, managed to secure the amount of his loan in cash. He then walked a few blocks down to another bank, presented a satchel of cash to the manager, and effectively erased that burden from his conscious. Since he thought the whole situation was kind of amusing, he shared his accomplishment with his friends on Facebook, thus birthing a gaggle of little green monsters.

My advice to Mr. Alex Kenjeev: Enjoy your freedom. You’ve destroyed a beast that most college students won’t slay for several long years. However, the next time you decide to drop an insane amount of cash on a single transaction, maybe it’s best to celebrate in privacy. After all, haters are, in theory, gonna hate.


  • Pierre

    He still short of 0.30 what happen he had no change.

    • Ben

      He want to clear up that 30 cents it could turn into a redtape monster!!

    • firefly004

      I think it is wonderful!! Good for him! What an accomplishment.
      He should feel good.. he should be allowed feeling good. What a bunch of grumps to rain on his parade…

    • Jay F

      I made an account just to let you know you’re an idiot. He gave .30 cents more being a smart as$, and they gave it back as a refund. Look under CASH GIVEN.

  • aint tellin

    would someone like to pay off my debt?? i owe 40,000.00. it wont be pd off until im 85 and i never did find a job in what i attented school.i am now 53.i graduated in 2010. i only made 12000.00 last yr. no one would hire me because i was on ui benefits for 99wks. they thought i was useless. go figure.

    • Ben

      In same boat here…. I wasn’t able to bankrupt the federally funded student loans either. I get irritated that large corporations, banks, etc can go bankrupt without reprisal and I’m stuck in a credit nightmare my whole life…..

  • Jim Dittmer

    CLARK HOWARD & SUZE ORMAN would be very proud of this former student

  • Maureen

    Good for him at least he attempted to pay his loan, so what he paid in cash it’s money isn’t it? weird why people would be pissed why? I think that kids who are starting out owing money is very sad, its’ their right to edcuation why would they have to pay crazy amounts of money sad sad society we live in.

  • ray

    Pay your student loans you deadbeats. And to the guy who was on unemployment for 99 weeks, I would not hire you either. What a loser.