Student loan for sale

Debt goes up for grabs on Trade Me

ANNA WILLIAMS
Last updated 11:22 30/06/2014
Daniel Moran,
TRYING HIS LUCK: Daniel Moran, 24, has auctioned off his student loan to the highest bidder on Trade Me.

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A former Nelson student is auctioning off his loan on Trade Me.

Daniel Moran, 24, of Christchurch, has tried a different approach to getting rid of his debt.

The former Marlborough Boys' College student completed a Bachelor of Information Technology at the Nelson Marlborough Institute of Technology in 2011.

He racked up about $36,000 worth of debt while studying away from home at the Nelson campus.

Over the past three years, he chipped away at the loan, which now sits at $26,508.34.

On Saturday, he was sitting at home going through his finances when he had an idea.

''I had my student loan bill in one hand and I was flicking through Trade Me at the same time,'' he said.''I saw the section Cool Auctions and I thought I'd put a silly one up.''

He created a listing called ''student loan for sale!''. The listing appealed to anyone with too much spare cash to ''buy'' the remaining balance.

In return, the lucky buyer would get a photocopy of the payment receipt, a ''witty'' handwritten Christmas card every year, free technology advice, and a thank-you note.

The technology support analyst, who works for Harcourts in Riccarton, created the listing as a bit of fun, but he wasn't ruling out the possibility of someone actually buying it.

''There must be someone out there with a bit of spare money,'' he said.''There could be worse things to spend it on.''

If the loan was paid off, he would save the percentage of his pay that was taken out of his bank account each month and put it towards travelling.

He was shocked the listing had already got almost 600 likes and 12 ''watchers'' in the three days it had been up, he said.

''Some people might think the idea is a bit silly, but it never hurts to think outside the box,'' he said.''

The top one per cent might have a lot of spare cash, and that's not a lot of money to them, but it's a lot to me.''

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- The Marlborough Express

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