ZeroHedge: 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.
According to the LendEDU poll, 30.60% of college students with student debt claim that they are using money they received from student loans to help pay for their spring break trip this year. For reference, you can use student loan funding for living expenses.
The National Center for Education Statistics calculated that 20.5 million students will be attending college this year in the United States. Orbitz reported that 55% of students will be going on spring break. Using this data, we can roughly calculate that 11,275,000 students will be going on spring break this year. And, it is estimated that 69% of all current college students use student loan debt by the time of graduation. By doing some additional arithmetic, we can calculate that roughly 7,779,750 student debtors are going on spring break this year.
Factoring in our data, and assuming the claims made in our survey are accurate, this means that 2.38 million students are using money received from student loans to pay for their spring break excursion this year.
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.
But ….. the feds are gonna forgive the loans for half of them anyway (or at least half of the brain dead morons BELIEVE that they are based on recent news stories LOL). I’m guessin’ that the 31% pissing away their loan money on spring break is close to 100% of the idiots that think they won’t have to pay the loans back.
My son worked his way through a B.A. program, and ended-up owing around $68,000 for his degree which he is paying back at about $400/mo. Some of his classmates in the same program relied on student loans for “living expenses” in lieu of finding a job. Ten years later, they still haven’t started repaying because they STILL can’t afford the payments on a $120,000 loan. Meanwhile, my son has started shopping for a house.
It’s unfortunate that common sense *ISN’T* one of the things they teach in college.
The federal government decided to fund spring break for delinquent chillrun in lieu of honoring its obligation to provide ‘social security’ to the laborers from whom it stole 15% of their earnings for their lifetime. Sounds fair and legitimate.
30% of my student loans were spent on spring break, and the remaining 70% was spent foolishly.
Hey, its a valid education expense called: ‘On the Job Training!
If there is an ‘ism’ attached then it is a valid pursuit of a Univerity Degree: Recreationalism, Fornicationism, Debaucheryism, Boozeism, Leeringism, dissipationism, Girl studiesism, nudityism, Drunkism, sun tanningism, exhibitionism, etc!
Aren’t those guys facing the wrong way? Kids today…
That explains the rash on the back of their necks…