Hat tip to Sid Sharma, NGPF intern, who found this video about paying back student loans, which has since gone viral with almost 400,000 YouTube views:

Here’s the back story (from CNN):

“….But New Orleans rapper Dee-1 turned that dream into a reality by paying off his loans with an advance he received after signing a record deal. The former middle-school math teacher, whose real name is David Augustine Jr., says his debt problems started after he graduated from Louisiana State University. Even with a full-time job, he found that he couldn’t make headway on his student loans.

“I have literally been in that place in life where I’m like, do I want to put some gas in my car or do I want to eat dinner tonight?” the musician said. It’s clear he hasn’t forgotten that time in his life: He’s giving away digital copies of the song “Sallie Mae Back” to anyone who signs up for his mailing list. “Everyone should be able to share this song, and money shouldn’t be a distraction.”

Now that Dee-1 has paid off his own debt, he stresses financial responsibility to those with college loan bills and says even though it might take longer than you want, you’ll see the light at the end of the tunnel one day.”

Here are some questions that students can answer while watching the video:

• What paperwork is required in order to get financial aid?
  • FAFSA, parents’ tax information, non-refundable check
• Do student loans need to be repaid?
  • Yes and if you fall behind expect to hear from collection agents
• What are the consequences of being in default on your student loan?
  • Will impact your credit score and appear on your credit report (Equifax, TransUnion and
• How much is a reasonable amount of student debt?
  • Rule of thumb is 1X your starting salary.
  • Research average salary for each of the people shown in the “How much do you owe?” section
  • Compare average salaries with their student debt loads 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim