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Extreme Saving: A Man, His Van and Five-Figure Debt

In graduate school, Ilgunas lived in his red 1994 Ford E-150 Econoline van. Courtesy Ken Ilgunas
In graduate school, Ilgunas lived in his red 1994 Ford E-150 Econoline van. Courtesy Ken Ilgunas
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Millions of young Americans enter the working world burdened with five-figure student loan debt with no relief in sight.

That wasn’t acceptable to Ken Ilgunas. When he graduated from the University of Buffalo in 2006 as an English and history major, having $32,000 in college debt “felt like I was dragging a ball and chain and I wanted to be a free person,” he says. Paying off the debt wasn’t just his top priority. "It was practically my only priority.”