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News Link • Economy - Economics USA

Here's What Happened When This Guy Tried To Pay A $114,000 Student Loan In Cash

• http://www.businessinsider.com, Mandi Woodruff

Since then, the anonymous alum has stepped forward as Alex Kenjeev, a 2009 law school graduate of the University of Toronto.

Kenjeev, who works for venture capitalist firm O'Leary Ventures, told Business Insider the $114,000 payment was the last chunk left of $190,000 in loans he took out during school.

He'd spent years dragging out his payments while pouring most of his income into a start-up. As for why he paid in cash, Kenjeev said he wasn't proving some point about the dangers of credit cards or trying to show off. He just thought it'd be really funny.

"It was stressful enough to carry such a big debt load. I thought it would be worth getting a few laughs out of it," he said. "Neither bank thought it was as funny as I thought it was."

In fact, when Kenjeev showed up at the Royal Bank of Canada to withdraw the cash, the management initially refused him. Then they told him he'd have to pay a transport fee to have it delivered by armored truck. 

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