New Jersey College Graduate Pays Off $70,000 in Student Loans by Starting a Used Book Business

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While President Biden has floated the idea of ​​canceling “some” student loan debt — an idea that worries both Republicans and Democrats alike, saying it would cost the government a lot of money and increase inflation — Some college graduates With heavy debt loans don’t wait for someone or something to save them.

They move forward, do what’s right – and figure out a way to pay off their debts.

And for a Rutgers graduate, that included a new idea.

New Jersey Pathik Oza graduated from his home country in 2018 with a bachelor’s degree from Rutgers University — he studied psychology and biology — and took out $70,000 in student loans, he told Fox News Digital in an interview.

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As Oza began pursuing another degree before his plan to attend medical school, he also found a passion for returning used and discarded books.

“I was walking around one day during the summer, and I saw books lying there, and I thought there would be a chance,” he said.

Pathek Oza, founder of O3 Books from North Brunswick, NJ, during a recent Zoom interview with Fox News Digital about paying off his student debt.

Pathek Oza, founder of O3 Books from North Brunswick, NJ, during a recent Zoom interview with Fox News Digital about paying off his student debt. “I just started this volunteer work where I was collecting junk books,” he said.
(Fox News Digital)

He told Fox News Digital, “Why are books thrown away? They can be redistributed to someone who might need them. So I just started this volunteer work where I’m going to collect unwanted books.”

What started as a kind gesture and an opportunity to return the favor local libraries, Schools, shelters, and children’s hospitals have turned into a great new business opportunity.

The growing number of books and the huge demand for his services has become something too big for only Oza and his Toyota RAV4 to handle.

Pathik Oza has made the decision to turn book reselling into a profitable business.

So Oza made the decision to turn book reselling into a business. He started by opening an Amazon account.

His work has been called O3 Books.

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“The profit will continue and increase,” he said. “[In about] A month or so, I had about 1,000 to 2,000 books in Amazon repositories. So it was great to see the growth in the business.”

Oza went on to expand by launching a website and opening an Etsy store, which “exploded” while the world was closed during coronavirus pandemic.

O3 Books' original dust jacket designs by J.K. Rowling's

Shown here are the original dust jacket designs from the O3 books for the “Harry Potter” series of books by J.K. Rowling. (Pathic Oza Books/O3)

He also found that there was a particularly high demand for decor book sets and re-designed dust jackets; Move in that direction to help beautify wallpapers Work from home Zoom meetings.

By the end of 2020, Oza had made $115,000 from his side business — which covered his entire student loans, and then some.

Oza learned “a lot about finances,” he said, by paying off his loans and fueling his small business at the same time.

Oza said he learned “a lot about finances” by paying off his loans and at the same time fueling his own business.

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Today, the 25-year-old said he would feel “more comfortable” taking on various forms of borrowing in the future based on the financial knowledge he has accumulated.

O3 Books’ success now pays for Oza’s second-tier costs in full, eliminating the burden of having to take out another loan.

Pathik Oza started at NJ Books - and used the money he got from his new job to pay off his student loan debt in full.

Pathik Oza started at NJ Books – and used the money he got from his new job to pay off his student loan debt in full.
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Since then, the small business owner has changed career paths.

He had been pursuing a degree in computer science, although the thought of huge school loans potentially in the future gave him an extra boost to pay off debts he already had.

“I felt it necessary to pay these sums,” he said.

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For other students who are in debt and are looking for a way to pay off their loans, Oza said balancing the option of starting a small business is a good idea. He particularly recommends taking advantage of online marketplaces like Amazon and Etsy.

“Any passion you start, there is definitely a market for it,” he said.

“You only need a small part [of the population] to me [help] Generate sales revenue. He added: As long as you have 1% of customers, you have a full business. There is always a market for something.

The growth of his own business has given Oza a boost in terms of financial literacy, so he also advises that saving and investing money is always the “best option”.

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“Make sure you understand the finances and how you can best allocate the income,” he said. “Loans are a burden that no one wants – but you will get rid of them.”

Pathik Oza, founder of O3 Books, shared ideas for other students who owe to pay off their loans.

Pathik Oza, founder of O3 Books, shared ideas for other students who owe to pay off their loans. “Social media has opened up many opportunities to market your skills and allow you to create a side income or potential full-time income,” he said.
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Oza hopes one day to leave O3 Books with his parents – as a permanent outlet for additional income. In other words, he wants her to stay in the family.

“This is a great side income that I will keep forever,” he said. “I’ve built a brand around it. I’ve built a community around it. So, it’s something I can’t let go of.”

“There is a market for your talent and there are many platforms you can use to showcase your skills.”

Oza also shared additional tips for anyone who needs extra income or cash to pay off student debt.

“I would suggest Get a part time job – And if you do not have much time, use those available hours to earn money with the skill you have. ”

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“It could be anything like marketing, art, web design, app development, or teaching… There is a market for your talent and there are many platforms you can use to showcase your skills.”

He added, “For example, Instagram is an excellent place for artists to showcase their artwork… The best part about this is that you can work when you’re available.”

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Oza said, “Social media has opened up many opportunities to market your skills and allow you to create a side income or potential full-time income from a passion or skill you have. Again, if your circumstances allow you to do so, try to reduce your spending costs as much as possible.”