Why does this not surprise me

Just over 30 percent of America’s college students with student loan debt admit that they plan to fritter away part of their federally-subsidized loan funds to pay for sun-and-beer-soaked spring break trips this year.

LendEDU, a student loan marketplace website, documented this startling fact in a nationwide survey of 500 students currently attending America’s colleges and universities.

The survey shows that 30.6 percent of debt-laden students say they are using student loan funds to pay for airfare and hotels, and to generally party hard on a super-fun vacation during their post-mid-term breaks.

Data from Orbitz obtained by LendEDU shows that 55 percent of America’s college students travel to some exciting destination for spring break. That 55 percent equates to 11,275,000 students taking vacations at some point.

LendEDU estimates that nearly 2.4 million cash-strapped students enrolled in U.S. colleges and universities will spend student loan money on thrilling adventures this year.

“Considering the severity of the student loan crisis in the United States right now, this number is severely disappointing,” LendEDU said in a statement sent to The Daily Caller.

Daytona Beach, South Padre Island, Cancun, Puerto Vallarta and Las Vegas are among the most popular spring break destinations among America’s college students, according to Travel Channel.

The LendEDU poll also shows that 23.8 percent of America’s college students admit to using student loan funds to buy beer and liquor.

Just under 7 percent are willing to say they use their student loans to buy drugs.

And 5.6 percent say they gamble or bet on sporting events with student loan funds.

Last week, LendEDU released data from the same 500-student survey showing that nearly half of all America’s college students have deluded themselves into believing that the federal government will forgive their student loans in spite of the fact that the federal government forgives only a very low percentage of student loans.

In reality, only about 10 percent of all college graduates will ever see any portion of their student loans forgiven under current loan forgiveness law.

Nearly 70 percent of all college students in the United States take on student loan debt.

Student loan debt continues to rise annually in the United States. Some 44 million Americans hold a grand total of $1.31 trillion in student loan debt, the Federal Reserve Bank of New York reported earlier this month. (America’s Total Student Loan Debt Is Hilariously Staggering)

To put this $1.31 trillion figure in perspective: The enormity of the U.S. student loan mess is almost as big as the entire economy of Russia, where the nominal gross-domestic product is $1.33 trillion annually.



http://dailycaller.com/2017/03...eak-trips-this-year/

You can't fix stupid.

The more things change, the more they stay the same. Kids have been doing this for 40 years (or more).

I remember freshman year taking spring break. I drove to Myrtle Beach with 2 friends in my 89 Civic hatch. We couldn't afford a hotel room so we slept in the car in the K-Mart parking lot. I paid off all of my student loans in 6 years.

Make colleges co-sign student loans.

I'd consider it money well spent. They will likely get more actual value out of the connections they make partying than the degree they are earning.

Don't get me wrong. I learned a whole lot in college, much of it quite technical. The important stuff I learned could have all been compressed into three or four semesters though, with the rest of the time I spent being devoted to filler courses like basketball, bowling, and a two semesters of American History that where all the lessons were written from the "losing" side's perspective.

The real value of my degree is the friendships I made getting it. Hopefully I won't need to make a career change any time soon, but if I do I have a number of people I know I can call who will find something for me. You can learn damn near anything by yourself out of a book without taking a class, but the connections that will really help you advance your life and career are priceless.

quote:

Originally posted by lkdr1989:
Make colleges co-sign student loans.

You may be on to something. I can hear the but, but, buts already.

quote:

Originally posted by Sportshooter:

quote:

Originally posted by lkdr1989:
Make colleges co-sign student loans.

You may be on to something. I can hear the but, but, buts already.

It would effectively do what I've said we should do. Only use government funds (since they are the primary source of student loans now) to finance degrees that have a high chance of the student finding employment in their field at a salary level that can pay for the debt financed.

That means if their isn't a large demand for degrees like Woman Studies, or Classical Greek Literature they must pay for the degree out of pocket with no loans.

Nothing new. 25 years ago I knew a grad student who took out the maximum loans, but since she was teachers assistants, the school comp her tuition. And she flew to different parts of the world to explore on those loans.

As a side joke, I wonder how many Bern-outs figured out if college was free, they would lose this perk and have to work to have the money to pay for their spring break trips.

You have to list what types of loans allow this. We never have received the loans ourselves, they went directly to the college. Some students do get a Pela grant, which is not a loan but money used for expenses. I don't buy into 1/3 of College students use their loans for Spring Break. Statistics can be made to read however you want them to read.

quote:

Originally posted by leavemebe:
You can't fix stupid.

But you can finance it!

Making schools co-sign? Won't do a thing. Loans have been guaranteed to them since the government took over the program, it's in their interest for the amounts to be as high as possible. And a lot of it is a mechanism for plowing money right back into the progressive campaign engine

So not only do they want someone else to pay for their "education" they want someone else to pay for their vacation.

What a deal for the taxpayer!!!

quote:

Originally posted by rtquig:
You have to list what types of loans allow this. We never have received the loans ourselves, they went directly to the college. Some students do get a Pela grant, which is not a loan but money used for expenses. I don't buy into 1/3 of College students use their loans for Spring Break. Statistics can be made to read however you want them to read.

I remember the school getting the first check, and I would get the left over to cover books and other expenses through the semester. I went to a private law school. I can see the students at the State run law school up the street getting a bigger 'refund' from the school if they took out the same amount. And my friend above taught a 100 level class and helped keep the lab open while earning her masters degree. She had almost no tuition and her student loan check she used to fly around the world.

The first semester I taught at a community college, I was in for a shock. The first day of one of the classes I taught I had 38 people show up for class the first day. I was in shock. The class was a PLC advanced class. Most of the time there is a lot of individual help needed by the students and I wondered how I would accomplish that. I gave a 5 page test the first day to see where everybody was at in their understanding of PLCs. One guy signed into class and then left immediately. A few who had signed in, glanced over the test and told me they could not answer one question on the test. They left. By the second class, I only had like 15 people and 2 of those dropped.
It seems that there are "students" who borrow the college money and then do not go to school and live and party off the money until they can no longer get anymore loans. One guy who was in that very class explained how his daughter had racked up 70k in student loans and was still a Freshman in college. This was all according to him without his knowledge of what was going on.
Most of the guys in the class were young and working their way thru college and told me they know the first day of a class which people who will not be back and that it was rampant in schools.
Then yet we have politicians who want to forgive student loan debt and make the taxpayers take the hit?

quote:

Originally posted by zoom6zoom:
(I)t's in their interest for the amounts to be as high as possible.

Of course it is! That should be one of the most obvious things about any guaranteed loan program: The more money students have available to spend on tuition, the more schools can charge, and that’s what they do. There is no incentive to schools for loans to be restricted, and the last thing they’re concerned about is how the students will ultimately pay them off.

Henry Hazlitt warned of the inevitable consequences of government-subsidized loads 70 years ago in his book Economics in One Lesson, and his predictions have been realized to a capital T.

What's the problem? Borrow money for an education, spend a good chunk of the borrowed money to party, get a degree, but can't get a job (or continue to party). Then cry some sort of wrongdoing by society, and let the taxpayer pay your bill.

quote:

Originally posted by sigfreund:

quote:

Originally posted by zoom6zoom:
(I)t's in their interest for the amounts to be as high as possible.

Of course it is! That should be one of the most obvious things about any guaranteed loan program: The more money students have available to spend on tuition, the more schools can charge, and that’s what they do. There is no incentive to schools for loans to be restricted, and the last thing they’re concerned about is how the students will ultimately pay them off.

Henry Hazlitt warned of the inevitable consequences of government-subsidized loads 70 years ago in his book Economics in One Lesson, and his predictions have been realized to a capital T.

I believe I have seen stats showing a strong correlation between the growing amount of student loan money available and growing amount of tuition.

We all benefit from Spring Break.

It's because of student loans I didn't have to work while I was at school. I racked up $18,000 before I graduated. I was able to pay it off in about 5 years.

Loan money used to cover living expenses being used to fund a trip? The horror! What's the difference between using loan money to buy beer on a Saturday night during the spring term vs buying beer on a Wednesday on a beach during spring break? Click bait bullshit.