Man who Has Owed Student Loans GHC1.1m for Years Celebrates as he Finally Settles It
- A man, Sherman Merricks, has taken to social media to celebrate victory over debts as he finally cleared money he owed
- The man who had been in debt since he was age 18 settled his GHC1.1 million school debt in the period of 2 years
- According to the man, he had intended to be paying N123k from time to time till the day of his passing until God spoke to him
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Against all odds, a man has now being declared debt-free after settling all his debts, including the ones associated with his schooling.
Sherman Merricks, sharing a photo of his family members on LinkedIn, stated that he had being struggling with a debt load of $203k for years.
Source: UGC
Of the total, his school (undergraduate and graduate studies combined) debt amounted to $185k.
The debts hanging around his neck frustrated him that he resolved to pay it little by little till he died - He would be paying $300 from time to time.
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In his words:
"I had stupidly decided I was going to pay “them” $300 until the day I died."
Then God spoke to him
Amidst his frustrations, Sherman said God spoke to him and gave directions. He said God told him to be a man of his words and pay back all the money.
"...Then, one day God spoke to my heart and said be a man of your word and pay it back ASAP! Don’t owe anyone a dime. Now, I was like this is going to take forever but I was willing to do whatever it took. We paid off a couple small things immediately to get the ball rolling so that we could get some small wins and gain confidence."
His second business sped up his settlement of the debts
Sherman said he became determined more than ever to settle the debts before his death.
And in the period of 2 years, the family man was able to clear a debt bill of $203K (N83 million).
Celebrating being debt-free, he stated:
"Yes, it’ll be hard but it’ll be worth it. I have literally changed my family tree for generations by doing this and we couldn’t be more proud."
Social media reacts
LaVonita B. remarked:
"Sherman Merricks No matter how much love we spread, there will always be a few people who are in a tizzy due to jealousy. Congratulations on making this happen. I would be very interested in your plan. My debt is minor; I've never had student loans."
Kevin Guillory opined:
"Thank you so much for sharing. Debt has stolen so much from family over the past few years. I have a 5 year old and I want set a new course of the generations that come after me."
Edmar Jed C. Diaz stated:
"This is so amazing, Sherman Merricks. You were able to do that in times of pandemic. What if there's none? My guess would be you could have reduced that less than 27 months. Hats off! "
Marilyn S said:
"His 2nd business catalyzed his paying off the major portion of his debt. The answer to someone else's debt may be different. But the key here is his hearing God speak to his heart and following God's wisdom. Each person who trusts in The Lord, as Sherman did, will enjoy successful results."
Teacher finally pays of GHC282k debt of her student and his brother she adopted
Meanwhile, YEN.com.gh previously reported that a teacher who adopted her student and his brother finally paid off GHC282k debt.
Chelsea Haley was only 22-years-old when she decided to take in 11-year-old Jerome and his barely one-year-old brother. Jerome had been a struggling student in the young teacher's classroom, not doing too well academically and constantly getting into trouble.
But the road to becoming a family has not always been smooth. Haley already had massive student debt she still had to take care of and the cost of looking after two growing boys was definitely not cheap.
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Edwin Lamptey Edwin’s goal is to drive YEN’s entertainment desk to become the go-to location for authentic entertainment news in Ghana and the reference point for viral foreign entertainment news. He will seek to entertain and say it as it is! He holds a degree in English, History and Religion and Human Values from the University of Cape Coast.
Aba Afful (Copyeditor) Maame Aba serves as a copy editor at YEN.com.gh. She naturally enjoys working with words and has an eye for quality content. She has a keen interest in cyberspace and wants to see YEN.com.gh produce more impactful, thought-provoking, and error-free content. Aba has five years of experience as a content writer, blogger, author, and proofreader. She graduated from the Ghana Institute of Journalism in 2017. She joined the team in 2021.
