Let this number sink in: Americans owe $1.7 trillion in student loans, and the average graduate leaves college with a monthly debt payment of $3931. With graduation season right around the corner, CheapTickets® is helping young travelers make their student loan payments and take a much-needed break with its Student Loan Vacation Sweepstakes.
From May 21-June 6, 2021, recent graduates can enter at CheapTickets.com/students for a chance to win a year’s worth of student loan payments2. Five winners will receive $4,716, which is equivalent to 12 months-worth of the average student loan payment. Plus, CheapTickets will throw in $250 worth of CheapCash travel money that can be redeemed at thousands of hotels worldwide to help winners get a head start on planning an actual vacation this summer.
Student Loan Debt Travel Impact
A recent CheapTickets survey found that 70% of graduates ages 22-32 say their student loans prevent them from traveling more, and a quarter of respondents would spend money on travel before making large purchases or investing if they didn’t have to pay their loans for a year3. Additionally, 1-in-5 respondents would give up TV streaming and forgo their wedding in order to graduate college debt free.
For advice and strategies on how to live and travel with student loan debt, CheapTickets has teamed up millennial money and career expert Tori Dunlap. Dunlap founded Her First $100K to fight financial inequality by giving women actionable resources to better their money.
“Student loans are keeping millennials from being able to live the lives they want, including travel,” said Dunlap. “With over 2/3 of Americans’ student loans being held by women, I love that CheapTickets is focused on helping them pay off their debt— one step closer to financial freedom!”
CheapTickets is also sharing a list of 10 destinations that are huge summer bargains right now – including New York City, Miami and Fort Lauderdale – in addition to travelers’ top money-saving tips and tools.
- Find travel freebies: Plan your trip during free admission days to museums and attractions, search for hotels with free breakfast and take free (or close to free) public transportation options instead of ride shares.
- Search for the stars: Open your search to 2- and 3-star hotels just outside of popular city centers and neighborhoods – but along public transportation routes – to score a lower nightly rate in top destinations.
- Look for last minute deals: Often the cheapest time to book a vacation package is just one week out from when your trip is set to start. To get an idea of what’s possible within your budget, try CheapTickets’ Vacation Value Finder. The interactive tool recommends destinations starting with the price you can afford to pay up front.
For updates on the Student Loan Vacation Sweepstakes, follow @CheapTickets on Instagram or visit www.CheapTickets.com/students. Students can also save 18% off hotels year-round by verifying their .edu email address on www.CheapTickets.com/students 4.
CheapTickets is a budget travel site owned by Expedia Group, one of the world’s foremost travel companies. On CheapTickets.com and mobile apps, travelers search low-cost airfare, lodging, car rentals, activities, event tickets and cruises in one place and access best-in-class deals and discounts. College students and educators save more on travel every day when they verify their .edu address on CheapTickets.com/students to claim 18% off hotels.4 For more ways to save and earn rewards when travelers refer their friends, visit CheapTickets – where the best trips in life are cheap.
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