Megan Hauserman was born November 5, 1981. She is from Chicago, Illinois.

Hauserman is a 2005 graduate of the University of Illinois at Chicago where she earned a degree in accounting. Hauserman has worked with many charities, including Susan G. Komen for the Cure and she also works with animal rescue charities.

In the week of February 6, 2006, Hauserman was named the Playboy Cyber Girl of the Week. Hauserman has continued modeling as a CyberGirl. She posed for Playboy a second time for the Cybergirl Xtra feature in July, 2007. She has also worked for Bench Warmer International.

In February 2007, Hauserman revealed that she would spend her half of the money: "I’m going to go to Disneyland and go on vacation, and get my hair done." However, during a phone interview in September 2008, Hauserman was asked what she had done with the Beauty and the Geek money and she said she put all of it, $125,000, towards her mortgage.

Hauserman was a contestant in VH1's Rock of Love: Charm School, a reality show where 14 former Rock of Love contestants must learn to abandon their improper old ways and develop proper etiquette in order to compete for $100,000 and the title, Charm School Queen. The show premiered October 12, 2008 and is hosted by Sharon Osbourne. She appeared on seven of the twelve episodes, despite getting expelled in the fourth episode for kicking classmate, and later winner, Brandi Mahon. Megan finished in tenth place.

Hauserman starred in a Truth.com commercial alongside her dog Lily in 2009 to promote the anti-smoking campaign.

On April 15, 2010, Hauserman was arrested for driving under the influence after the police stopped her at approximately 3:15 AM in Miami Beach. Reportedly, law enforcement observed Hauserman in a black 2008 BMW, weaving between lanes, and subsequently accelerating to 75 mph (121 km/h) in a 55 mph zone. After being stopped, the police reported that Hauserman had bloodshot, watery eyes, a strong odor of alcohol, and slurred speech. She reportedly told the police that she had been "filming a TV show and was tired." She was taken into custody after a breathalyzer test indicated a blood alcohol content of .102, which is above the legal limit. Her bail was set at $1000, and she was bailed out of jail after twenty-four hours.

Hauserman appeared on the series True Crime with Aphrodite Jones on Investigation Discovery in May, 2011. This was her first on air interview about the Ryan Jenkins murder/suicide. The episode reenacted the events leading up to the murder of Jasmine Fiore, the suicide of Ryan Jenkins, and the cancellation of Megan Wants a Millionaire.

On September 4, 2014, Hauserman gave birth to son Derren william Garber at West Boca Medical Center in Boca Raton, Florida. The announcement was made on Hauserman's E! True Hollywood Story airing late in 2014. Hauserman's fiancé and father of her son is professional Golfer and Fuel U Fast Inc. owner Derren Edward Garber.

In January 2015, Megan appeared in an episode of CNBC's American Greed. The story was of Tim Durham titled "The Playboy of Indiana". Hauserman recounted a party she attended hosted by Durham in 2007.