Toronto Law Grad Pays Off $114K in Student Loans with Cash
Posted May 29, 2012 6:00 AM CDT
By Debra Cassens Weiss
A 2009 University of Toronto law graduate apparently made enough money at a venture capitalist firm to pay off his remaining $114,000 law school debt with just one payment—and he did it with cash.
Alex Kenjeev tells the Business Insider he was trying to be funny rather than make a point. "It was stressful enough to carry such a big debt load,” he said. “I thought it would be worth getting a few laughs out of it.”
Kenjeev says the process was cumbersome, and the banks didn’t share his sense of humor. At first, the Royal Bank of Canada balked at Kenjeev’s request to withdraw the money, then required him to wait three days, he tells the Business Insider. When the money was released, he stuffed it in a canvas bag and walked two blocks to pay off his loan at Scotiabank.
It took two-and-a-half hours for tellers to count the money and complete the transaction. "I didn't really realize how much of a hassle I'd cause for everybody,” he said.