May 27, 2026
The average American has more than $65,000 in student loan debt and will spend close to 20 years paying it off. But Brandon Axelrod, a first-year oral and maxillofacial surgery resident in Manhattan, found a creative strategy that may allow him to pay off his debt sooner.
Axelrod, who is nine years into his training with another three to go, is already carrying $400,000 in student loan debt. While he does get paid for his work as a surgical resident, he told Business Insider it’s not enough to pay down his loans — partially because he has to live within 10 minutes of the Manhattan hospital he works at due to patient care rules.
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But it’s also because medical residencies don’t pay much. On average, a medical resident can expect to earn around $70,000 a year, though it can vary by program. Considering a studio apartment in Manhattan averages around $4,000 a month, it’s clear most medical residents wouldn’t have much extra money to put towards their student loans.
This is where Axelrod’s creativity comes into play.
Paying off debt with balloon art
Axelrod’s solution came from an unlikely source: his childhood. As he shared with Business Insider, he’s been twisting balloons since he was 10 years old and has performed at birthday parties, corporate events and religious celebrations under the nickname “Brandini.”
When residency left Axelrod with no time for advance-booked gigs, he pivoted to social media. In late January, he posted a TikTok of himself making a tooth fairy out of balloons for a fellow healthcare worker — and then scrubbed in for a five-hour surgery. When he got out, he found his video had received more than 400,000 views, and he only had around 300 followers at the time.
Since then, his burgeoning TikTok venture has earned him around $3,500 over 10 weeks — which, in Axelrod’s words, “isn’t nothing.” He’s also taken commissioned sculptures that sell for around $1,000 each and is considering brand deals to earn a bit more cash. It’s not enough to make a huge dent in his student debt, but his plan is to use social media to pay down the principal with his resident salary covering the interest.
Over time, small consistent payments can help him tackle the debt and keep it from growing.
Many students fall into the trap of negative amortization, where interest accrues faster than they can pay the debt down. Say, for example, that you owe $400,000 at 7% interest. That’s roughly $2,300 in interest every month, and if your payment is only $1,000, you’re not reducing your balance — you’re adding $1,300 to it each month, and then paying interest on the interest.
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Creative ways to pay down student debt
While Axelrod’s approach is unconventional, his underlying strategy is sound. Finding supplemental income to chip away at your principal balance will mean you owe less over time and can pay off your loans faster.
Here are a few options worth exploring:
Pick up a side hustle
Axelrod’s balloon art might seem like an odd example, but there are plenty of other options to earn a bit of extra cash. Freelancing, tutoring, selling a skill online or monetizing a hobby can all generate extra cash to throw at the principal. Even a few hundred dollars a month can shorten your repayment timeline considerably.
Rent what you already own
There are plenty of apps that allow you to connect with renters for more than just a spare bedroom. Turo lets you rent your car, while sites like Spacer let you rent out your parking spot. Tools, specialty equipment, and even your storage space can all help you earn a bit of extra cash.
Sell your expertise
If you have a professional skill — like medicine, law, finance or coding — platforms like JustAnswer, Expert360 or even starting a newsletter can let you monetize the knowledge you already have. Building courses or helping people study for certifications you hold could also help generate a bit of extra income without requiring much investment beyond your time.
Explore repayment or refinance options
While earning more money can help with paying off debt, there may be other options to help get a handle on student loans. For example, income-driven repayment or Pursue Public Service Loan Forgiveness may help with debt. While significant changes are coming to these programs, it’s worth checking whether you qualify for one, or whether refinancing to a lower interest rate could help.
Whatever route you choose, the math is the same: any extra money directed at your principal today means less interest and less debt tomorrow.
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Danielle is a personal finance writer whose work has appeared in publications including Motley Fool and Business Insider. She believes financial literacy key to helping people build a life they love. She’s especially passionate about helping families and kids learn smart money habits early.
