This Game Show Will Pay Off Your Student Loans
Watch out Wheel of Fortune and Jeopardy! – there’s a new game show on the television circuit.
Its bold promise: to pay off your student loans.
Yes, you read that right.
Here’s what you need to know.
“Paid Off”: The New Game Show
Paid Off is the new comedy game show that is doing its part to help reduce $1.5 trillion of student loan debt that affects more than 44 million borrowers.
Hosted by Michael Torpey – who plays Thomas Humphrey on Orange Is The New Black on Netflix – the new game show premieres July 10 on TruTV.
How The Game Show Works
Each episode features three contestants, each of whom has student loans.
The premise of the game show is simple: Torpey gives these lucky contestants the chance to answer trivia questions during three rounds of play in a fun, fast-paced trivia game show.
The three rounds of play include:
- academic questions
- poll questions
- general knowledge / college major questions
One contestant will be eliminated each round.
The grand prize? One lucky winner can win a cash prize or the chance to wipe out their student loan debt.
During the final round, the final contestant has an opportunity to answer as many questions as possible. The more questions that the contestant answers correctly, the larger their winnings.
The lucky contestants who answer enough questions potentially can wipe out their student loan debt.
Viewers will also learn the stories behind each contestant: whether they were the first in their family to attend college or never finished their college degree.
Can Your Student Loans Really Be Wiped Out?
Of course, like any game show, the winning contestant must pay taxes on any prizes, including if the cash prize is used to repay student loan debt.
In addition to the final winner, the first contestant eliminated will receive $1,000. The second contestant eliminated will receive $2,000.
Overall, during the show’s 16 episode run, the show plans to give away about $500,000 to over 60 people.