22-year-old college student blows her $90,000 college fund and blames her parents

[MikeChipshop Member]

I was hoping for a follow up thread "22-year old college student bitch slapped by parents".

[bluesman86]

http://finance.yahoo.com/news/a-college-student-blows-inheritance-bert-show-205833329.html

 

Atlanta radio program

[Lord Nite]

Oh. My. God!

This girl is completely moronic. She blames her parents for not teaching her how to budget?! Then she has the audacity to propose that her parents lend her the money and she pays it back with no interest.

If this is the next generation, then I don't want to live here anymore.

[DocM]

This is what you get with an "entitlement society."

[neufuse Veteran]

I graduated in 2005, my entire college tuition was $27,000..... if I lived on campus it would of been $50k but I stayed home to save money.... paying $90k+ to me is outrageous....

 

even with tuition price raises since then it's only $37,000 now if you'd do what I did at a state university in PA

[Liana]

I don't think this is all that new or unique. She's still young and stupid and makes mistakes. I made plenty of big mistakes around that age. That said, I was also living on my own at 19 without any financial assistance from anyone, trying to scrape by. I got thrown out on my own and it was sink or swim. She may have been irresponsible with her money, but this is now her "sink or swim" time, and she did get a job and learn from the experience.

 

Also, never go on a radio show if you have an actual problem. Call-in radio shows exist to laugh at the caller's expense.

[+Warwagon MVC]

She sounds like a dimwit. While listing to her all I wanted to say is "As if"

 

She should have called Dave Ramsey instead.... He would have ripped her a new ahole

 

Every bit of advice they gave her is the complete opposite of Dave Ramsey. I think he would want to kill the radio announcers

 

[Xilo]

Kids shouldn't be allowed to have direct access to their college funds.

[Guest]

So give me the TL:DL version, what exactly did she blow the 90 grand on????

 

You would be surprised. We met some Americans here in Uppsala, Sweden last week, talked for a bit, they were doing some international programme for 2 months. They said they spent 4K $ in three weeks. That's how much the rest of us students here spend in 5 months!

 

What did they spend it on? Drinks and parties, nothing else.

[neufuse Veteran]

Kids shouldn't be allowed to have direct access to their college funds.

exactly, if it's a trust fund or something else the bill for school should go to the parents directly and they pay it... and none of that this teaches responsibility bs.... someone hands you a ton of money in college most kids just blow through it partying and traveling..... the money was set aside for one specific thing, the only way to guarantee it, is the parents handle the funds themselves... and if the kid wants to do something they have to ask the parents for permission to use some of the money for that..

[DocM]

Our youngest sons college is paid for by a state education trust we set up when he was born. That gives him a full ride. If he wants to party or buy some hot wheels he'll have to work for the money.

[+Warwagon MVC]

After thinking about it, this can't be real. it can't be.

 

If this happens to be real, she falls under the category, "so stupid you are surprised she can breath on her own."

[DocM]

after thinking about it, this can't be real. it can't be.

If this happens to be real, she falls under the category, so stupid you are surprised she can breath on her own.

You just described about half of Millennials.

[shastasheen]

Anyone know what her degree will be in?

[DocM]

Clearly, it has to be Economics

/s

[shastasheen]

Or something really lucrative like Social Work? More than likely she's getting a degree in a social science field which will be useless without a graduate degree.

[Open Minded]

Seeing how so many people have zero accountability, this doesn't surprise me.

[+JHBrown Subscriber¹]

I could have easily obtained a Doctorate Degree with $90,000 if I had to start from day 1 as a freshman. These young whipper snappers...

[+Eternal Tempest MVC]

Missing info, which school did she attend, would it been able to cover the rest or not, what degree is she going for, etc.

Reserving judgement until then. 

[ATLien_0]

She clearly stated that she did mis manage her money and may have used it on things such as a "school" euro trip. 

Please don't lump all millennials  into this category of bad money management though. I know plenty of people in her boat that were raised by money always being handed to them or were never taught good money management skills from parents. Some kids learn the hard way like this about bad money management, others learn budgeting a lot sooner. 

Her running out of money like this is only good for her and will hopefully teach her a lesson. She has to tell her parents she goofed and own it, she has other options like loans or just taking a break from school and working until she makes the money. 

[G.i.b.b.s]

This is what you get with an "entitlement society."

 

THIS! X1000

 

How far have we fallen as a society when one has no shame in expecting others to support you.  What happened to 'Horatio Alger'? But then again as a recent college grad myself (worked my ass off for an Ivy League education) I know what is being taught in these universities is not self-reliance and 'go get them' attitude and perseverance but moral relativism and doing nothing but expecting everything without shame because how dare we expect someone work for themselves, people with those antiquated notions are radical extremists denying people their civil rights to everything and anything. 

[macoman]

She needs to suffer... if I was the parent of that spoiled brat, I will not give her a dime and I will politely say to her that she needs to be a woman and take responsibility in her hands. Find a job miss or pay the consequences. 

[Som]

God that was so funny to listen to.... while she's a stupid dumb brat the fees the US have for college are crazy ridiculous, also I had finished college and had a full time job by 21, how long is her course

[macoman]

God that was so funny to listen to.... while she's a stupid dumb brat the fees the US have for college are crazy ridiculous

That's nothing... I own $145,000 dollars in student loans... I have 10 more years to pay it off.

[Thrackerzod]

Am I the only one who thinks this is all staged? Radio shows have fake interviews all the time all for the ratings.