ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Guy finds creative way to pay off his student loan with help of a simple TikTok video

The reason behind the surge of these videos is that the makers want to cash in on TikTok's Creator Rewards program.
PUBLISHED AUG 16, 2024
Image Source: @jheisenburg | TikTok
Image Source: @jheisenburg | TikTok

Many people are following the "pay off debt" craze on TikTok. They are creating films and pleading with their fans for assistance to generate money. As per Business Insider, the reason behind the surge of these videos is that the makers want to cash in on TikTok's Creator Rewards program. On their videos creators must have a minimum of 10,000 followers and 100,000 views during the last month to be eligible for this program. According to Viral Marketing Stars CEO Katya Varbanova, it's like the little guys coming together to take on TikTok, a billion-dollar firm. In essence, what they're saying is, "Hey TikTok, give us some of that money!" The trend took off when medical student and TikToker Jake Heisenburg (@jheisenburg) discovered a way to get around the Founder Program's mechanism. His video, which he made about it, has received over 22 million views. He revealed the process in the video so everyone on TikTok knows it.

Image Source: @jheisenburg | TikTok
Image Source: @jheisenburg | TikTok

Jake explained it to us: a staggering 247 million people would need to watch his video for just five seconds each for TikTok to pay off all of his student loans at once. Additionally, his video had to be at least one minute long to be eligible for the money. Therefore, he idly savored his cereal for the rest of the video.

To encourage more people to watch these pay-off debt films fans are banding together and writing tons of comments under videos like Heisenberg's. The purpose is to increase the visibility of these videos on TikTok. Katya Varbanova observed that platforms like Facebook, YouTube, and Instagram wouldn't allow this kind of content. According to her, TikTok is similar to GoFundMe in that users post requests for attention rather than money.

The user reactions were nothing but supportive.

Image Source: @jheisenburg | TikTok
Image Source: @jheisenburg | TikTok

"I just realized I’ve been watching this video for 6 hours on repeat because I fell asleep," said Poppy 

Image Source: @jheisenburg | TikTok
Image Source: @jheisenburg | TikTok

As Katya noted, the way the TikTok algorithm operates makes this entire strategy unique on the platform. Ultimately, Jake's gamble paid off though not like he had anticipated. He revealed to everyone a few days later that he had only made $4,200 from it. Although this wasn't enough to pay off his entire student loan debt, he had previously stated that he owed a significant amount.

He explained two things and determined how much he got: "qualified views" and "RPM," which is basically how much money you get for every 1,000 views. But even though it wasn't as much as he hoped, Jake was still happy. He said, "Hey, this is more than I used to make in two months at my old job, all from just one video!" He was really grateful for what he called an "almost life-changing" amount of money.

He also said, "I can't even express how thankful I am and how unbelievable it is that this happened to me." With the cost of living crisis hitting hard in the US and household debt hitting record levels, folks are finding clever ways to make money like using TikTok.


@jheisenburg If you’re reading this just know I appreciate you. I’m so happy we could share this moment ❤️🥣 #fyp #studentloans #viral #cereal #icarly #spencershay #whynotdatemedotcom ♬ original sound - Jake | ⚕️Jheisenburg ⚕️

 

You can follow Jake Heisenburg (@jheisenburg ) on TikTok for more such videos and content.

Editor's note: This article was originally published on May 27, 2024. It has since been updated.

MORE ON MARKET REALIST
Thankfully, none of the cast members will be changed and fans are excited about the changes.
11 hours ago
The guest even had the signature authenticated, but it did not fetch him what he wanted.
13 hours ago
The host then brutally trolled one of the contestants for a mistake he refused to see.
14 hours ago
The sharks were baffled that the entrepreneurs did not even have a plan to become profitable.
1 day ago
The contestant's answer made the host single him out in the most hilarious manner.
1 day ago
The host even gave justification for the contestant's shocking answer.
1 day ago
The host's hilarious expression after hearing the absurd answer will surely go down in the game show's history.
2 days ago
The guest hoped to getv $1,500 for it but was only offered a couple hundred bucks.
2 days ago
The old man wanted the car to be painted black as well, which would have cost a lot of money.
2 days ago
It seemed like she was going to win the car and some more after almost nailing the game.
3 days ago
While the founder of Hampton Adams got a $500,000 offer, he chose not to go for it.
3 days ago
Fans of the show quickly picked up on the new detail which must have meant to be a secret.
3 days ago
The entrepreneurs were not able to present the numbers that might have instilled some confidence.
3 days ago
The entrepreneur's mission to "save mankind" and his life's story impressed all of the sharks.
4 days ago
Tom Cruise was not the only celebrity who was ranked lower than the popular game show host.
4 days ago
The contestant also revealed that those shoes had lights in them before winning big.
4 days ago
Steve Harvey's reaction to each of the answers was absolutely hilarious to watch.
5 days ago
The guest, who had the Levi Wells Prentice painting for 40 years, had no idea how valuable it was.
5 days ago
The host was stunned to hear the answer and made his public service announcement.
5 days ago
John considers himself the very best on the show when it comes to licensing deals.
6 days ago