You poor dumb taxpayers need to look at it this way ... at least your money is being spent on a worthy cause!
Posted on 03/09/2017 5:00:19 PM PST by Zakeet
As Washington D.C. liberals continue their fight for 'free' college education for all (which, of course, is just a nicer way of saying largely useless community college education crammed down the throats of taxpayers) and student loan forgiveness programs, a new study from LendEDU reveals some of the shocking realities behind where college students are really spending their $1.3 trillion worth of student debt.
Per a survey of 500 college co-eds, LendEDU found that 31% of students, or roughly 2.4 million kids, admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break.
[Snip]
But don't worry yourselves you silly taxpayers...it's only $1.3 trillion (and counting) of debt that you'll soon have to cover.
Adding insult to injury, 24% of students admitted to using their student loan money for alcohol and 7% use those federally-subsidized checks for drugs.
Nearly a quarter (23.80%) of respondents stated that they have used money received from student loans to pay for drinking some type of alcohol. This answer also included spending money at bars.A third (33.40%) of students answered that they have used money received from student loans to pay for clothing and other accessories.
Similarly, the same amount (33.40%) of students said that they have used money received from student loans to pay for restaurants and take-out.
6.60% of respondents responded saying that they have used money received from student loans to pay for drugs.
Finally, 5.60% of students that participated in our survey stated that they used money received from student loans on gambling or sports betting.
Students should minimize their borrowing during their college years and live a sparse lifestyle - but no one wants to hear that ...
(Excerpt) Read more at zerohedge.com ...
You poor dumb taxpayers need to look at it this way ... at least your money is being spent on a worthy cause!
What’s wrong with the other 69%? Do they not know that ‘student loans’ are intended to permit students to enjoy the ‘whole college’ experience?
All monies need to go directly to the college for expenses. No carrying any loan balances over to the next year’s term. All loan receives must work 15-20 hrs per week during the school year.
Obama piled up more debt than all previous Presidents COMBINED.
The schools SAY liberal arts degrees help them.
Let them ACT that way:
Make the school EAT the debt in case of student default.
OR there should be no such thing as public loans for unproven majors.
COLLEGE IS INDOCTRINATION.
... these same “students” know how to get food stamps, pell grants,
A cost of living allowance too. The worst abuse is they know how to “game” the system -— how to enroll in a class and when they can withdraw and still “get” a refund on money that they never paid in the first place. What a joke — they are using college for income without working for it and never plan on paying it back.
Panama City has withdrawn the welcome mat but some are still going there. I have noticed a lot of traffic headed South on Highway 81.
Can’t think of any other reason for it.
50% Of College Students Believe Their Student Loans Will Be Forgiven By Federal Government.
You mean to pay for bloated bureaucracy. If the cost of college education was "reasonable" reflecting actually necessary costs at prevailing wages I would have no sympathy for these students. But we have created a system to enrich education bureaucrats while saddling the students with enormous debt made available by the government. They might as well spend some of it on a spring break I could never afford. I didn't leave college with debt totalling a few years of an average starting salary.
A pox on all their houses.
Well, as long as they don’t have to pay it back ........ hey, you know......
Knew a nice young lady who had $150,000 in college debt. She was working part-time at a buffet.
Looks like we need another special investigation and a whole lot of summons.
Yep, just talking to my buddy last week about his Daughter whom is going to (Dear God) San Francisco State. Not nearly enough accountability on how Student loan money is spent.= “Living expenses”
My daughter is a police officer at a State college. She gets to know some students pretty well and have conversations more that just “how are you?” Many of the students that gripe the most have 60-70 inch flat screens with Bose speakers and XBox with all the latest games. Some have chairs with built in speakers and electronics. Of course they have the latest Iphone with gadgets. All paid for by student loans. Many have 4 wheel drive trucks or sports cars and no job. Most of them believe the loans will be forgiven by Washington. They pay for their dope and Spring breaks with the money. Many of the parents have middle class jobs under $60k and couldn’t possibly have given this much money to augment their student.
My ex daughter-in- law took on a student loan for about $5,000, that was about 10 years ago and to this day she’s never set foot in a college class room nor has she paid back a penny of it and never will.
She spent all of it on drugs. Lives with her parents, who did not co sign the loan.
Kiss that $5 K. goodbye taxpayers.
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