I'm shocked. SHOCKED, I say!!!
I'm shocked. SHOCKED, I say!!!
I was talking to a young man whose brother had just gotten about 10k. He said his brother’s friends had run out band bought cars and “party” supplies with the money. His brother had rented a very nice off-campus condo. (I lived at home, drove a 20 year old beater I spent every weekend working on and worked half time too. I graduated with no debt but there’s no way you could do that at today’s inflated prices.)
When I went to school I never personally saw a dime of the student loan money I borrowed. It was deposited directly into the College bursar’s account in the exact same amount as my tuition and associated fees. I wouldn’t have had the opportunity to use it for other purposes.
Whats that you say?
You HAND out money with little or no checks and balances and are surprised there is fraud????
My flabbers are completely ghasted.
Who woulda ever thunk?
I used my student loans for booze and hookers.
OMG. We see this all around. The drug dealers/users just get their loan with help from local trade schools or joke community colleges, and then never go to class. Live off the money. Totally abused. No oversight.
I live in a college bedroom town and a lot of that student loan money ends up on my sidewalk on weekends. I want my cleaning fluid bill subsidized.
I knew a college student sometime in the 1980’s who took out student loans at a low interest rate and put the money in CDs earning more. The profit helped pay for her trips home to Egypt every summer.
I bought my first CD player with a student loan. Nice Carousel 5 CD unit. Of course, I had to buy some CDs to go with it.
They are used on a regular day to pay fines and costs at courts. All the time. And the defendants make it no secret.
Could’ve told them that, back in 1985!!!!