Lotto winner to pay ‘most’ of student loan

Lotto winner to pay ‘most’ of student loan

St. Stephen — A recent lottery winner says he should “keep afloat” this month after winning the grand prize on a Set for Life scratch ticket.

“I was mildly excited. Mostly I’m relieved that I can pay the bills,” said Patrick Mortimer. The St. Stephen native will receive $1,000 a week for 25 years. With his new cash flow, Mortimer can finally afford his student loan payments.

“So long as interest rates remain stable over the next 25 years, Mr. Mortimer should be able to pay most of his balance,” a Canada Student Loan officer explained over the phone. “Interest is a killer.”

Other than paying down debt, Mortimer has modest plans for his winnings.

“I’m left enough for the mortgage, property taxes, utilities, car loan and food. I’m hoping there’s some left for a Fibre Op TV package. If not, I can at least afford my own Netflix subscription.”

The Set for Life winner has been using a friend’s Netflix account for over two years. “He logged in from my iPad once. I just never logged out. I hope he didn’t mind.”

Even after winning the lottery, Mortimer says he still feels burdened by his debt and the lack of stable work in New Brunswick. He has been unable to find a job since graduating with a degree in Technology and Social Change from St. Thomas University.

“It’s been tough. No one wants to know how technology has changed them, sociologically speaking. I explained the theories of Marshall McLuhan flawlessly in my last interview, but never heard back.”

Mortimer had applied at Best Buy in their home entertainment department. “I really thought my education in technology was a good fit, especially considering the social aspect of the job,” he said. “I’m a people person.”

Mortimer considered the lump sum of $675,000 for his prize, but eventually chose the bi-weekly payout.

“That [lump sum] would pay off all my debt, but then I would need a line of credit for living expenses. I think I’ll like getting it bi-weekly. Makes me feel like I have a job.”

If any readers are hiring, they are asked to come to the Atlantic 649 headquarters this Wednesday at 2 p.m. Following the cheque presentation, Mortimer will be passing out resumés.

Share your thoughts. We reserve the right to remove comments.