Source: Michigan Lottery and Credible News analysis.

Three people will win $300,000, making the odds of winning the top prize about 1 in 1.8 million. Although the game will award prizes to 1.47 million winners, only about 1,000 prizes will be worth more than $100. The overall odds of winning the Michigan Lottery game Dietz played - Multi-Prize Bingo - are 1 in 3.77. But because some borrowers owe far more, the average level of student loan debt is $32,731, with a monthly payment of $393.Īlthough it’s relatively easy to win small amounts - say $5 to $100 - the odds of buying a scratcher ticket and winning enough to pay off your student loans are quite long.

Nearly one in four adults (23 percent) are still repaying educational debt, either money that they borrowed to put themselves through college, or for a child or grandchild’s education.Īmong those who are still repaying student loans, the typical (median) amount of debt is $17,000, with a monthly payment of $222. 1 in 4 adults have student loan debtĪccording to a recent Federal Reserve survey, more than half of adults who have completed college (53 percent) took on some debt in the process. She’ll invest the money that’s left over. When it finally sunk in that she’d won $300,000, Dietz decided to pay off her student loan debt and go on a cruise. After scraping bingo numbers over the next few days, she was happy to see she’d won $100.īut when she tried to cash the ticket in, the clerk at the Speedway gas station where she’d bought it told her she’d won much more, and that she’d have to call Michigan Lottery officials to claim her winnings. The 35-year-old Vicksburg resident says she bought a Multi-Prize Bingo game ticket, which lets players scratch off 40 bingo numbers and play them on 10 cards, on a Monday. “I told the audience how wonderful it would be to win the lottery to wipe all of my debt out at once, and now here I am. “The day I bought my ticket, I had just given a speech about student loan debt,” said Amanda Dietz.

It might not be a strategy you can rely on, but a Michigan woman says she’ll be able to pay off her student loan debt after buying a $5 lottery scratcher that turned out to be worth $300,000. Amanda Dietz and Michigan Lottery Commissioner Aric Nesbitt.

Mi bingo multiprize winners left