• Name: Jeffrey Creagh
• City: Rochester, N.Y.

Within 24 hours of receiving his tax refund, 25-year-old Jeffrey Creagh put all $1,800 of it towards his student loan debt.

Creagh graduated in 2011 with around $30,000 in student loans and in just two years, he's managed to cut his balance in half.

This is the second year in a row he has used his refund to pay down debt.

"I didn't need that money to go anywhere else, and it's best to get out of debt as quick as possible," he said.

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