The Kansas Medical School graduate decided to pay off $200,000 in student loans herself

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Olivia Ray, 26, of Kansas — a recent medical school graduate — is determined to continue reducing her massive $200,000 student loan debt until it is paid off in full. She does not want to help the government.

Ray graduated from the University of Oakland’s William Beaumont School of Medicine near Detroit, Michigan, a few weeks ago. A three-year family medicine residency is scheduled to begin next month in Wichita, Kansas.

Her secret weapon to pay off $30,000 of her debts so far? This is what you call a “side hustle”.

Since 2019, Ray has made nearly $85,000 selling clothing at Poshmark, Inc. It is a digital second-hand market.

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The site “also has a ‘wow factor,'” she told Fox News Digital in an email. “It’s where all my friends sell their clothes – so I wanted to try it out.”

Poshmark doesn’t verify how much sellers earn annually, but company spokeswoman Kristen Hervagen confirmed via email that Olivia Ray Poshmark’s total earnings to date have been more than $100,000. Ray noted that this does not include the cost of merchandise or the 20 percent that Poshmark makes on every sale.

Kansas resident Olivia Ray used a portion of her earnings from the sale of her Poshmark business to get rid of her student loan debt.

Kansas resident Olivia Ray used a portion of her earnings from the sale of her Poshmark business to get rid of her student loan debt.
(Olivia Ray)

In addition to paying $30,000 from Debt on student loan Already, Ray has also set aside $30,000 to buy a new home in Kansas, with Fox News Digital; This amount covers the down payment and closing costs. Ray and her husband, a commercial airline pilot, got married during her third year of medical school.

“I would like to have a lower loan to pay off to improve my life, make it easier to live my life and eventually have a family of my own,” Ray said.

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“My husband and I dream of owning a lot of land,” she added. “The faster this loan is paid off, the faster we will achieve our long-term goals.”

With years of hard work and determination behind her — it was entered into the Delta Chapter of the Alpha Omega Alpha Medical Honor Society in 2021 — Ray doesn’t endorse the Biden administration’s plan to waive a portion of student loan debt to each borrower or the other. Student loan forgiveness concepts.

“If loan forgiveness starts on a large scale, the value of a degree, even a medical degree, will drop dramatically.”

“If loan forgiveness starts on a large scale, the value of a degree, even a medical degree, will drop dramatically,” she said.

“It’s offensive too All Americans who work hardand maybe even lived from salary to salary to pay off student loans,” she said frankly.

Why did you try to sell used?

During her second year in medical school – and the beginning covid-19 pandemic – Olivia Ray started selling second hand.

She turned her study fatigue and her boredom from being confined to close quarters to making money after friends encouraged her to try selling secondhand.

Ray told Fox News Digital that she has started selling her second-hand products

Ray told Fox News Digital that she started selling her second-hand products “by going to the thrift store down the street from me.” In a very short time, she was hooked.
(Olivia Ray)

“I was also tired of living on student loans for housing, food and education of course,” she said. “I often felt like I wasn’t enjoying my twenties like the rest of my friends who had ‘real’ jobs…and hadn’t been in school their whole life like me.”

Ray said she knew a little about the clothing business early on. She has spent the last six years of her academic life trying to secure a competitive position in medical school.

“On Fridays, I’d rush out of my hospital clinical patrols for a half sale at my local thrift store, buying 30+ items a week.”

Although she was initially reluctant to dip her toes into the world of vending, her entrepreneurial acumen soon took off.

“I started by going to a second-hand clothing store right down the street,” she said. “I bought my first item, top, which I bought for $5 and then sold for $20.”

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After completing her first transaction at the Saint Vincent de Paul Store in Madison Heights, Michigan, Ray said she was addicted. I started with this face, she said, and then reinvested my ‘earnings in another, and then another.

Why does she have a ‘strict routine’?

As Ray’s sales increased, she began to learn about popular brands for resale. She also perfected her listings, photos, and descriptions. She said the mobile app is easy to use and does not require startup fees or listing restrictions

“have found Vintage and unique items that sold for the high dollar [amounts]I took pictures of myself wearing them and took selfies in the mirror to show what the items looked like. As my customer base grew, people started reaching out to me asking me to sell their goods on consignment.”

Olivia Ray sorts through some of the clothes she sells on Poshmark.  Her plan is to pay off her student loan in full by 2026.

Olivia Ray sorts through some of the clothes she sells on Poshmark. Her plan is to pay off her student loan in full by 2026.
(Olivia Ray)

Over time, Ray said her side gig has turned into a “strict routine.”

“On Fridays, I’d rush out of my hospital clinical patrols for a half sale at my local thrift store, buying 30+ a week,” she said.

I also went to the “garage to sail” – I frequented garage sales. On Sundays, Ray would check out the huge pile of clothes she had accumulated during the week and take pictures of her new merchandise.

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On Mondays, between patient visits, items are listed on Poshmark. She spent the rest of the week gathering and packing the sold items. I repeated the strategy every week.

Tracy Sun, co-founder and senior vice president of seller experience at Poshmark, said in a press release on October 8, 2021.

Olivia Ray completed her medical degree in May 2022 at the William Beaumont School of Medicine at the University of Oakland near Detroit, Michigan.  She is scheduled to begin a three-year residency in Family Medicine in Wichita, KS.

Olivia Ray completed her medical degree in May 2022 at the William Beaumont School of Medicine at the University of Oakland near Detroit, Michigan. She is scheduled to begin a three-year residency in Family Medicine in Wichita, KS.
(Olivia Ray)

To date, Ray has sold nearly 5,000 items on Poshmark. (The site says Ray is one of 80 million registered users from the United States, Canada and Australia.)

Why do you expect her loan to be paid in full by 2026

“As a doctor, I know that my initial investment [toward medical school] It will pay off eventually, but it totally helped me that I worked so hard to make money myself.”

“In 2022, it’s a good idea to diversify your income as well as your skill set.”

“Online reselling is something a lot of college students, even medical students, can start,” she said. “Instead of watching Netflix every night, as a lot of my classmates did, I worked in this business. It was such a wonderful source of happiness.”

“It also taught me that in 2022, it’s a good idea to diversify your income as well as your skill set,” she said.

With plans to operate in a rural farming community in Iowa or Kansas, Ray said she expects to pay off her debts in full by 2026.

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It also plans to continue selling its used products.

She said, “I love him.” “I put my heart and soul into medicine and resell it. I also work hard for my husband and my dog ​​- and my future children.”