Paying off student loan debt can feel impossible, especially if your balance is over six figures, like Colette Louis’.
The Charlotte, North Carolina, entrepreneur and stay-at-home mom of two earned three degrees in pursuit of a high-paying career. But despite her qualifications, her salary couldn’t compete with her looming $120,000 student loan bill.
“I just figured that once I got the degrees, I would easily get the job [I wanted],” said Louis. “And that wasn’t the case.”
When she turned to social media as an outlet, she didn’t realize she was taking the first step toward earning enough to wipe out her debt for good. But now, with an impressive social media following, Louis is now on track to wipe her student loan balance clean by the end of this month. Here’s how she accidentally started a side hustle that’s knocked out over $100,000 of her debt.
How Louis ended up in six-figure debt
Louis obtained two bachelor’s degrees -- one in marketing and one in business and entrepreneurship. But the best paying job Louis could find was as a bank teller, making $25,000 a year.
She eventually moved up into a job as a personal banker, boosting her income to $45,000 a year. But that wasn’t enough. She went back to school for her master’s degree in business administration. After finishing grad school, she became a mortgage loan officer, earning $5,000 more a year. But her staggering student loan balance still felt like a weight over her head
Despite going to college and getting the degrees she was taught would help her earn more, Louis was treading water and embarrassed by her astronomical debt. The six-figure sum loomed over her for years, and there was also a level of shame tied up in it that she wasn’t ready to face. So, she hid her financial struggles.
Facing the emotional toll of her debt
Looking back, she wishes she’d been able to shift her mindset around her debt sooner.
“Although we were doing well financially, I felt like a burden on my family because I had so much student loan debt,” she said in an Instagram reel in 2023. “I was kind of embarrassed by it.”
But she realized she wasn’t alone when comments flooded in from people sharing the same feelings about their own student loan balances.
“I feel like if we talk about it more, it will help us all be creative and think of different ways to pay that money off,” said Louis.
She turned social media into a side hustle to pay off her student loans
By 2018, Louis had quit her job as a mortgage loan officer to kick-start two companies with her husband: QC Lights, which rents out marquee lights, and QC Booths, which rents out photo booths for events. The Charlotte-based businesses did well enough to let Louis work at home with her kids most of the time.
But her loan balance wasn’t budging. Before the pandemic, she was on an income-driven repayment plan, paying less than $400 a month. Then the pandemic paused her student loan payment -- but it also halted her family’s businesses. With in-person events on hold, she and her husband became unsure about their financial future.
At the same time, she discovered a new passion for social media content. So, she started a lifestyle and motherhood Instagram. It started gaining traction, which led to her creating a bigger social media presence for herself as “simplycolette.”
@simplycolette_
As the number of her followers grew, she decided to turn her social media account into a business opportunity. Even when her rental businesses eventually revved back up, she kept at it. By the end of 2023, she’d made a plan to use all the money she earned from her social media pages to pay off her student loan debt. Apart from the mortgage she shared with her husband, Louis’ student loan balance was her only outstanding debt.
How Louis makes money on social media
Louis makes money in three different ways: through views, affiliate links and brand deals.
💰 Social media views. She earns money on every platform she posts content on, averaging a few hundred dollars per month for views.
💰💰 Affiliate links. Through affiliate links -- links with a tracking code assigned -- Louis is able to boost her income even more. For instance, Louis recently posted a social video about juicing options for kids’ colds and illnesses. If someone buys the juicer from her link, she’ll get a kickback from the company.
💰💰💰 Brand partnerships. The bulk of Louis’ income comes from brands that pay her to feature their products. Brand deals vary from month to month, but she usually earns a few thousand dollars per branded post. She gets new brand deals by tagging them in product posts. This strategy has led to several brand deals for Louis.
She’s also being more mindful of her spending habits
As an influencer, Louis knows social media makes it all too easy to spend. Though her income is considerably higher than before, Louis is still conscious of where her money is going.
Louis budgets each month and doesn’t spend money on nonessentials unless she has the funds available. It’s led her to rethink purchases she used to drop money on in the past. For instance, instead of buying a new outfit for events or nights out, Louis is shopping her closet or thrifting affordable options from second-hand stores like Goodwill.
Even though Louis’ goal is aggressive, she’s not putting every spare penny toward debt alone. She’s still traveling and occasionally splurges on meaningful items and experiences -- just in a different way.
Usually, Louis and her husband travel for their anniversary. But this year, instead of spending thousands and hiring a babysitter, they celebrated by going out to brunch and dinner as a family of four.
With her eye on her goal, she’s making trade-offs and sacrifices but still making sure to celebrate important milestones.
She still travels to see family and for brand deals. She also plans monthly mother-daughter dates for quality time.
Reaching her goal is exhausting, but Louis says it’s worth it
So far, everything is going according to Louis’ plan. At the time of publishing, she has $16,000 left in student loan debt and expects to reach her goal by the end of July.
Louis is thankful for the success she’s found on social media, but it’s not easy work. Her side venture requires more time and effort than the standard 9-to-5.
“Being a full-time content creator is the hardest, most rewarding job I’ve ever had,” said Louis, who works an average of 50 to 60 hours per week. “Since my content is based on my lifestyle, it feels like I’m always on the clock.”
Louis knows her current workload isn’t sustainable, and she’s looking forward to scaling back later this summer. After she reaches her goal, she plans to keep her side hustle going to fund other money goals, but she’s excited to slow down. “The plan is to not have to work hard forever.”
Though she’s almost at the finish line, Louis isn’t celebrating until she gets the email that her loans are paid in full. And she knows once it’s done, it’ll be a massive weight off her shoulders.
“I’ve never worked so hard on anything in my life,” Louis said.
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