college students/grads: have you heard of people blowing all their aid money?

OS

Lifer
Oct 11, 1999
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Financial aid (grants, loans), pay out in a lump sum at the beginning of the quarter, so it seems almost unavoidable that someone out there had no money management skills and burned it all somewhere else, leaving no money for rent, food, books, etc.

I'm sure this happens, anyone have any stories?
 

Turkish

Lifer
May 26, 2003
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my old roomie used to get 10k per semester and all he bought was drugs... he was an idiot...
 

Ranger X

Lifer
Mar 18, 2000
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I know a guy who blew all his money at Vegas. What an idiot ... some people just can't manage money.
 

Bv3

Senior member
Mar 9, 2000
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I know a guy just got a $20K student loan and spent it all to build a recording studio in his garage for his band. He's not even going to school so I don't know what he's going to do when it comes time to pay it back.
 

LuDaCriS66

Platinum Member
Nov 21, 2001
2,057
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yeah.. burned some of it on the gf that I started dating a month into school.. man, it sucks to date someone from the same dorm. Plus spent some on watercooling and other computer junk... but that's like 1 grand.. so I didn't burn that much of it
 

GoingUp

Lifer
Jul 31, 2002
16,720
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yea, i know a lot of people who have burned it on alcohol and other stupid crap... lucky for me, the check goes right to school, so I dont have to worry about pissing it away on stupid crap
 

Anubis

No Lifer
Aug 31, 2001
78,712
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tbqhwy.com
At my school when they give you money like that they just automatically deduct it from tuition. You never actually see it. So that doesn?t happen
 

BD2003

Lifer
Oct 9, 1999
16,815
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Originally posted by: Anubis
At my school when they give you money like that they just automatically deduct it from tuition. You never actually see it. So that doesn?t happen

Same here.

Although they sometimes give you your loans in cash. Ive been fairly good about it because Im not broke to begin with, but I considered a radeon 9500 pro a school necessity.
 

Ranger X

Lifer
Mar 18, 2000
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Originally posted by: Anubis
At my school when they give you money like that they just automatically deduct it from tuition. You never actually see it. So that doesn?t happen
That's common but usually they give you money for "living expenses", such as transportation, food, rent, etc. Apparently common sense hasn't kicked in for some people who spends their money on useless junk/services.
 

enis083

Senior member
Jan 17, 2003
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My roommate did the same. Bought pizza for dinner every night. Bought drugs and alcohol. Bought a guitar. Dropped out of school. Found out later that he was wanted by the police for a few DWI...
 

hdeck

Lifer
Sep 26, 2002
14,530
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i blow all my aid money =(

of course, i wait until after i pay tuition/rent/etc to do so...
 

TrueBlueLS

Platinum Member
Jul 13, 2001
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I remember when I had a $2,500 scholarship from a state standardized testing program. I used like $1,200 for my first semester's tuition and books (I go to a community college) and blew the rest on a sound system for my car that got stolen not even a year later.
 

TommyVercetti

Diamond Member
Jan 4, 2003
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I used to get some, and I agree that the urge to blow it all away is immense. Luckily I went with the option that I only get the left over money. Say I get awarded $5K. School fees is $4K, I only get the difference. But luckily I saved most of it.