18-year-old takes out $1 million in student loans: shorts the market, loans get forgiven

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Notre Dame – Jacob Brown, 18, rising Notre Dame University freshmen plans to study finance and business.  “I’ve been fascinated with the market since I was a little kid,” Jacob said.  “My goal is to land a job at a multi-asset hedge fund where I can hone my analytical and entrepreneurial ability.”  Jacob wants to pick stocks.

“To show my dedication to the market I took out over $1 million in student loans this spring and shorted the market.”

Jacob took out low interest rate student loans and ended up shorting the S&P 500 (“SPY”) in early February.  Jacob has more than doubled his money and closed out of his position.

“It’s an amazing feeling borrowing cheap debt and becoming a millionaire in a few months,” Jacob stated.  “What even more awesome is that there are talks of student loans getting forgiven – this is free money.”

Jacob has already pulled out $10 million in student loans and invested the money in the S&P 500 going long this time. 

“Look, if I lose money on this trade the government will just forgive my loans.  If you are not doing this what the hell are you doing?”

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