One move can slash an instant $7,000-15,000 off your student loan debt

There’s a simple way to cut thousands off your student loan tab: Move.

Five recent graduates received checks for $7,000… just for living and breathing, according to the website Fusion. The only catch is… they have to live and breathe in Niagara Falls, New York. The city instituted a debt payoff program to combat falling population numbers. Recipients must live in the city for two years to get the money.

In Kansas, more than 70 counties offer grads $15,000 in loan repayment checks for becoming residents. Similar programs exist all over the U.S.

There are other loan forgiveness programs available for grads in the red. For example, your editor received tens of thousands in debt repayment in exchange for military service. Or you can follow Mark’s footsteps in service to the Peace Corps (it offers a debt repayment option as well).

Bottom line: Increasing your income is important, but it’s not the only way to get out of debt. Your journey to solvency may be as simple as moving someplace new. To learn more about alternative ways to extinguish your debt, watch the two-minute video below.