Student takes on more loan debt to get out of debt

Still in student loan debt and wondering how you'll ever pay it all off? One person in this position is pursuing a counter-intuitive approach to get out of debt. Benjamin Huddle, a 31-year-old analyst for the U.S. Department of Transportation, graduated with a bachelor's degree in economics from Virginia Tech five years ago; unfortunately, the degree also put him in debt – to the tune of $50,000 in student loans.

Though Huddle brings in an annual salary of $75,000, he has yet to see a substantial reduction in his student loan debt (accrued interest isn't helping either). "The cost of living in the D.C. Metro area is extremely high and even earning a decent salary is not enough to pay the bills," he said. Surprisingly, Huddle plans to get rid of his student loans by accumulating more debt.