A few months ago we noted that 31% of college students in the U. S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break. Now, while most of us who’ve had the opportunity to live in the real world, outside the comfort of mom and dad’s basement, would consider it a bad idea to borrow 10-20 year debt to take a vacation we couldn’t afford, many college students seem to think it’s a perfectly acceptable practice.
Now, to be clear, we have no problem with making bad decisions, sometimes those are the most fun (see pic below for evidence). We only ask that the people who make the bad decisions are also the same people who get to deal with the consequences of those bad decisions.
This post was published at Zero Hedge on Jun 15, 2017.