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Survey: 30 Percent of College Kids Will Use Student Loans for Spring Break Trips

A recent survey of college students revealed that around 30 percent of college students will use their student loans to pay for spring break trips.

The study, which was conducted by LendEDU, concluded that over 30 percent of college students would tap into their student loans to fund spring break trips this year. According to a separate study conducted by Google Consumer Surveys, this is an increase from last year.

“Students should minimize their borrowing during their college years and live a sparse lifestyle — but no one wants to hear that when their fraternity brothers or sorority sisters are packing up to Cabo for the week,” argued Greg McBride, chief financial analyst of Bankrate.com.

“It’s like putting spring break on a credit card, but this one is subsidized by taxpayers,” McBride added.

According to the LendEDU study, over 20 percent of students claim to have used students loan to purchase alcohol. Over six percent claimed that they had used student loan money to pay for illegal drugs. Over five percent claimed that they had used student loans to pay for illegal gambling.

Tom Ciccotta is a libertarian who writes about education and social justice for Breitbart News. You can follow him on Twitter @tciccotta or email him at tciccotta@breitbart.com

 

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