Student blows $90K college fund – IOTW Report

Student blows $90K college fund

first world probs

Blames parents for not teaching her budgeting!

EAGnews: ATLANTA – An Atlanta college student is inciting the rage of parents across the country after she called in to a local radio show to talk about money troubles after blowing a $90,000 college fund left by her grandparents.

The 22-year-old junior recently explained to The Bert Show how she squandered $90,000 in her first three years in college and is now broke, and asked the public for advice on covering the remaining $20,000 in tuition for her senior year.

The student, identified only as Kim, told listeners her parents have refused to give her the additional funds, and that’s totally not fair. MORE

24 Comments on Student blows $90K college fund

  1. Hell that’s nothing. My nephew went to Washington State University with a stumbling drunkard who’s mother handed him a credit card with a $100K limit on it, which he maxed out while a freshman. He took out north of $150K in loans, which the dimwit cosigned for. He never graduated and is all but unemployable, the mother’s home has been foreclosed on and he is living with her in a two bedroom apartment.

  2. I think the parents are correct not handing any more money over to this immature young lady. but I do think they are more than likely to be partially to blame. Many of the traits we carry thru life we learn by example from our parents. I have thanked my Mother for teaching all 3 of us kids financial responsibility. Her response has been ” we did not teach you” I respond back ” you did by example, you and Dad lived within yours means which means us kids did too” I also remember her taking us to the Lincoln Tower Bank in downtown Ft Wayne and having us make a deposit in our savings account.
    I would be curious to see the state of her folks financial affairs.

  3. Cred’s to the parents for finally providing their precious child with an opportunity to discover the meaning of cause and affect. Sadly, senior year in college is way too long for a child to go before learning this important lesson about responsibility.
    If I was one of the parental units, I would be aghast at the backlash being directed at this idiotic “young adult”. Better late than never I Suppose. πŸ™

  4. I am guessing that the parents also blew through what money they inherited from the same grandparents.

    Hey, when I was in my 20s I used to hang out with friends who played in bands, some of them were good enough to play with people like Chuck Berry and others when they were touring in the Seattle/Tacoma area. This story is far from unique, it was not at all uncommon to run into these trustafarians when traveling with to gigs at universities out with these guys. I would be extremely surprised if a significant percentage of the money were not spent on cocaine.

  5. As someone who has made plenty of stupid mistakes in his life, my advice is – consider the experience real world tuition and learn from it. This wasn’t the parents mistake, it was the kid’s mistake. $90 grand is gone, and she has to scramble for $20k to finish school – it’s not the end of the world for someone in their early twenties.

    Everyone makes stupid decisions at some point. I once bought a $500 refrigerator on credit that, when all was said and done, ended up costing about $3,000. Had I been smarter with my money earlier in life, I would be writing this comment from a beach house on a tropical island instead of during a work break. But these decisions were my decisions, and while I did get some bad advice at various times, ultimately the consequences were my own fault.

    She can blame her parents, she can blame society, or she can blame the mailman for all I care. But the point is that unless she quits blaming others for her own errors, she will not learn the lessons that this experience taught.

  6. Well, if Obola can “forgive” student loans, maybe he can “forgive” student extravagances, too!

    I’d bet that Bill Clinton could get up $20,000 or so … if she’s willing to “speak into the microphone” … so to speak …

  7. She’s angling for a stint with the “beautiful” people. Intelligencee wise, she’ll fit right in in follywood. Or, perhaps she is using the forum to start a campaign to sell her “virginity” for the money.

  8. She should try GoFundMe. There are a lot of soft touches out there for assholes with sob stories.

    The aspect of this story that disturbs me the most is her belief that holding a part-time job would have “a negative effect on (her) as a person.” WTF?

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