LOS ANGELES–A new game show has debuted in which the prize offered isn’t a new car or a dream vacation–it’s cash to pay off student debt.
The new game show, “Paid Off,” has debuted on Tru TV and is hosted by Michael Torpey (from Orange is the New Black) and offers three college graduates who are carrying student debt the opportunity to compete to win money by testing the “depth of their degree.”
If the top contestant answers eight trivia questions correctly, he or she wins a cash prize equal to the balance owed in student loans.
Americans currently have approximately $1.4-trillion in student debt, and several million people are currently in default on their loans. At the same time, the New York Times reported that “a new analysis of federal loan data indicates that the average student’s debt load is plateauing, and perhaps even declining slightly, at least when adjusted for inflation.”
“For students receiving bachelor’s degrees, the average debt load at graduation was $30,301 in 2015-16, about the same as estimates for the previous three years, according to the analysis, which is based on data from the National Postsecondary Student Aid Study,” the Times reported.
For more on Paid Off, go here.