Yusra3
VIP Contributor
Students in college will not use all their financial aid and loaned money just as payment for tuition, rent, books, and school supplies. Research reveals the earmarked funds to cover the student loan obligation are run down on a swanky lifestyle instead of the standard use contrary to the terms of the loan.
The fact that 55% of the students(according to a survey) either utilize it to further their non-academic personal spending or put it into efforts of paying off their federal aid, is very alarming. Food being a leakage point is a part of this process, and lots of non-traditional learners additionally face financial problems with babysitting, health and transport expenses co-occurring with their studies.
Actually, 25% of respondents confessed to using the student funds to party (by travelling, shopping, visiting bars, concert halls, and just leisure in general). Lenders and aid disbursement staffs fears some of the worst consequences especially for students who do not want to talk about their daily choices and how it drives debt to the future which make their efforts at repaying the principle and interest by large amount of money in installments impossible for years.
Many people above dispute the question why it is become a larger issue to be debated whether student loan programs-governmental and private-should transform into giving students financial assistance via living costs rather than student loans specifically. Regardless, the dividing line between 'college needs' and the superficial lifestyle regarding university studies financing is blurred.
The fact that 55% of the students(according to a survey) either utilize it to further their non-academic personal spending or put it into efforts of paying off their federal aid, is very alarming. Food being a leakage point is a part of this process, and lots of non-traditional learners additionally face financial problems with babysitting, health and transport expenses co-occurring with their studies.
Actually, 25% of respondents confessed to using the student funds to party (by travelling, shopping, visiting bars, concert halls, and just leisure in general). Lenders and aid disbursement staffs fears some of the worst consequences especially for students who do not want to talk about their daily choices and how it drives debt to the future which make their efforts at repaying the principle and interest by large amount of money in installments impossible for years.
Many people above dispute the question why it is become a larger issue to be debated whether student loan programs-governmental and private-should transform into giving students financial assistance via living costs rather than student loans specifically. Regardless, the dividing line between 'college needs' and the superficial lifestyle regarding university studies financing is blurred.
