‘AGT’ Winner Brandon Leake Reveals How He’ll Spend His 1 Million Prize
Poet Brandon Leake won season 15 of America’s Got Talent and the whopping $1 million prize. While most people might spend their money lavishly, Brandon has finally announced his plans for his prize money.
Brandon Leake Plans To Pay Off Student Debt With ‘AGT’ Prize Money
The 28-year-old husband and father of one will be using his $1 million to pay off his college debt.”The moment that I finally get my winnings, my plan is to pay off my student loan debt,” he said in an interview with CNBC. Recently, the federal government paused student loan debt amid the coronavirus pandemic where so many people have lost their jobs and do not have viable sources of income. When 2021 rolls around, people will then be faced once again with how they will pay off these massive debts.
Brandon had been getting calls every day about paying off his debts. “I would get reached out to all the time,” he said. “‘Hey, you know you owe $30,000-plus to the government regarding that student loan that you took out — when’s that money coming back to us?'” However, with the pandemic shaking up the world, the calls have come to a stop for now. This is a very relatable reality that so many people are facing currently. Though we may not all have $1 million readily available, there is still time to figure out what the next move is with your finances.
“There’s been a pause on all student loan payments that have had to be made, which has been a huge blessing, I know, for not just myself but a plethora of other people,” he said. Brandon hopes to get a handle on this once he gets his prize money. The $1 million is “payable as a financial annuity over 40 years, or the contestant may choose to receive present cash value of such annuity.” Brandon, who was Howie Mandel’s Golden Buzzer on ‘AGT’ has opted to receive all of the money at once.
The Poet Said He Is Trying To ‘Make Wiser Decisions Now’
Brandon previously worked as an academic advisor at a local community college in Stockton, California. Obviously now his life has changed as he is a millionaire who captivated audiences on one of the biggest stages in the entire world. But he spoke about how he does know former students and others who have more than $100,000 in student loan debt.
“There used to be a time in which going to college would assure you a secure position of work in which you would be able to financially be able to pay them off within the course of 15 to 20 years,” the ‘AGT’ winner said. “That’s not the case, that’s not the economics we live in anymore.” The world is definitely changing and it can be overwhelming at times but there are resources to help you through this.
Even though Brandon did have an income-driven repayment plan prior to competing on ‘AGT’ he admitted that it still was hard to make the payments. His life and mindset has definitely changed since winning the show. “I’m trying to make the wisest decisions right now,” he added. He plans on continuing to pursue a career in the arts. Judging based on his moving performances on ‘AGT,’ Brandon Leake will have a career full of major success.