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Student Loans Buy Pizza and Beer?

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December 22, 2010 – Comments (5)

This is well-worth the read for entertainment purposes alone:

http://www.cnbc.com/id/40777957

It does bring up a greater question though. I mean one individual is quoted as saying:

“I don’t like the fact that someone’s taking money from money I borrowed,”

I guess what this individual fails to realize that this happens to us all virtually every second of every day. How in the world is this any different than if his money were in another account? He would still swipe a debit card and the banks, mechants and card companies would all be getting their piece of it. Unless of course he just pays cash for everything. If that's the case, then great! More power to him!

Foolishly,

Jason

5 Comments – Post Your Own

#1) On December 22, 2010 at 11:32 AM, ikkyu2 (99.25) wrote:

This is a dumb article.  College students have to eat.  The purpose of a student loan is to allow a student to focus on studying.  You can't study when you're hungry.

If the loan money is ill-used, it is not the fault of the debit card; it is the fault of the student who swipes it. 

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#2) On December 22, 2010 at 12:05 PM, Jbay76 (< 20) wrote:

This article underscores how poorly educated high school students are with respect to economics or personal financing are.  More education at that level wodl better prepare students for things of this nature so that they don't get surprised when they take out a student loan and use One's services, or any other card for that matter.

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#3) On December 22, 2010 at 12:25 PM, ozzfan1317 (80.33) wrote:

Man people really don't know how to manage their money are a used car and TV dinners not good enough?..lol

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#4) On December 22, 2010 at 12:40 PM, zzlangerhans (99.85) wrote:

"This is a dumb article.  College students have to eat.  The purpose of a student loan is to allow a student to focus on studying.  You can't study when you're hungry."

Or sober.

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#5) On December 22, 2010 at 12:58 PM, Option1307 (30.16) wrote:

But is it wise to outfit students with a card that lets them access student loan funds with a simple swipe to spend on anything from books and housing to pizza and beer?

Yes. If students are dumb enough to spend all their loan money on booze/etc. simply because it's "easy" with the new debit card idea than that's their own fault.

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