College student blows her $90K college fund and blames her parents.

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sennin436

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just saw this. the best part were the gifs they used throughout the article. :D
22-year-old college student blows her $90,000 college fund and blames her parents - Yahoo Finance
22-year-old college student blows her $90,000 college fund and blames her parents

Atlanta radio show “The Bert Show” had a guest on this week who has managed to incite the rage of just about every millennial in the state of Georgia (and beyond, the show is syndicated in 11 states).

The woman, a 22-year-old college junior named Kim, who did not give her last name on air and was allowed to use a voice disguiser to even further shield her identity, came to the three hosts with a confession: in just short three years she had managed to blow through a $90,000 college fund left to her by her grandparents...

“I used it to budget for school clothes and college break money. I probably should have not done that. I took a trip to Europe. The Europe thing I thought was part of my education and that’s how I tried to justify that.”

“Maybe [my parents] should have taught me to budget or something. They never sat me down and had a real serious talk about it.”

“[My parents] said there was nothing they could do for me. They’re not being honest with me saying they don't have [money] because my dad has worked for like a million years and they have a retirement account.”

“Then my parents suggested I go take out a loan at a credit union and I’m, like, how am I supposed to do that? I have to go inside the bank to get a loan?”"

Bert Show co-host Jeff Dauler: "You could get a job for the school ...maybe the cafeteria's hiring."

Kim: "That’s embarrassing."

“I know they’re trying to teach me a lesson and blah blah blah and character building but, like, I hope they realize [working part-time] could have such a negative effect on my grades and as a person."
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She is probably hot, so working in the cafeteria would be embarrassing. She doesn't need that shit.

I'm on her side and fuck Yahoo.
 
Um, of course she blew the money.

If somebody gave me $90k at age 18 or 19, and said this was for college, I would said sure and then the next three (two) years would have been a bit of blur. If I had survived it. Sure as fuck wouldn't have graduated.

Thank God no internet or Facebook or any of that shit was around to record my late teens and early twenties. What an asshat I was.
 
If you leave a naked 5-year-old girl in a room with a pedophile, you shouldn't be surprised when that little girl gets diddled.

Likewise, if you leave $90,000 to a college girl with no oversight as to how she spends the cash, you shouldn't be surprised when she spends it.

Like the pedophile, it's definitely her fault. But c'mon... if the grandparents really cared about how she spent the money, they should have put it in a trust and loaded it with contingencies.
 
JakeStratham said:
If you leave a naked 5-year-old girl in a room with a pedophile, you shouldn't be surprised when that little girl gets diddled.

Likewise, if you leave $90,000 to a college girl with no oversight as to how she spends the cash, you shouldn't be surprised when she spends it.

Like the pedophile, it's definitely her fault. But c'mon... if the grandparents really cared about how she spent the money, they should have put it in a trust and loaded it with contingencies.
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diddled... lol
 
It doesn't sound like she *really* squandered the money.. If tuition is 20k a year and she made it 3 years thats less than 1k a month in spending money. Sure, she could have budgeted, got a part time gig, or went to a cheaper school to get through a 4 year degree without any additional outside help but meh this shit happens.

Screen_Shot_2015_07_17_at_3_45_00_PM.png

Also LOL nice clickbait.
 
The shit that girl said... never ending facepalm.

Why hide her identity? The whole point of having someone like that on a show, is to fact check that it's legitimate. She's not blowing the whistle on a corp for fucks sake.. it's herself.

The whole topic isn't new or groundbreaking or even just a millennial thing. People of all ages blow inheritances and funds on ridiculous shit.

Irritating and frustrating comedy gold.
 
Benji49 said:
Um, of course she blew the money.

If somebody gave me $90k at age 18 or 19, and said this was for college, I would said sure and then the next three (two) years would have been a bit of blur. If I had survived it. Sure as fuck wouldn't have graduated.

Thank God no internet or Facebook or any of that shit was around to record my late teens and early twenties. What an asshat I was.
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Yeah the fact she made it 3 years, she probably did better than most would have done with that. I'm pretty sure more than half the people in that situation would have blown through it before the start of the 2nd year.
 
$90k over 3 years is like $30k/yr. She wasn't exactly living high on the horse but seriously what a dumb bitch for asking her parents for their retirement or refusing to get a job. Hopefully she's hot so she can land some rich asshole otherwise she's gonna be making sammiches at the Mc D's whether she wants to or not.
 
It might not be that ridiculous. $90k would have covered less than 2 years at many universities if she didn't receive any financial aid.
 
So 90k buys you a degree, huh?

Stanford:
Regular quarterly tuition for the 2011-12 academic year, payable Autumn, Winter, and Spring quarters, is as follows:
Undergraduate
$13,350

lets say thats 12k, just to make the calculation possible for folks like you. 4 years, 3 trimesters each, lets say thats roughly 12 periods you have to pay for.

12*12 = 144 oh my god the squares

12k*12 = 144k

So you got 90k and youre still 50k in the hole, not assuming any kind of housing or food on the table. 600 a month sounds reasonable to me. Again, 4*12 = 48,

48*600 = 4800 + 24000 = 28800

So thank you mom and dad, but your generosity really only bought me half a degree. Not your fault tho.


Lets take a look at germany. We are looking at 5 year degrees here, because thats the kind of degree you do in germany. That includes a masters. Remember how much a fucking masters degree costs in america? Fancy that:

Tuition: 0 - yea thats right, thank you very much.

The cost of living is about the same except not because our economy isnt nearly as fucked as yours. Can get by on 400$ easily:

400$*12*5 = 24000$

So mom and dad bought us 3.6 degrees.

For comparisons sake, germany houses the best computer science programs in the world. It doesnt cost a dime to attend them. Its not nearly as idiotically difficult to get into them either. Finish school, show up, youre in.

Or lets consider this option. If mommy and daddy leave you 90k, you could just as well buy a home and retire on it immediately.

You could take the roughly 70k that are left and start a company through one of the many funds provided by the government to talented people. Thats why we dont have such a colorful private equity scene. Because we dont fucking need it. If you have a good tech idea but lack the funds, you get government sponsors who leave you with all the equity and if you go busto, no harm done. You get to keep the patents. They dont go to some shitters patent farm for litigation trolling.

Litigation? Right, theres no punitive damages over here and lawyers get their licence revoked if they sue for idiotic bullshit. Also, no contingency nonsense.

Cost of Living in San Francisco, California. Updated Prices Jul 2015.

Cost of Living in Berlin. Updated Prices Jul 2015.

If thats correct, your poverty stricken majority isnt fat because theyre stupid as fuck. Its because they can literally not afford anything but high fructose corn syrup. Well played, murica.

also worth noting is that on 150k in sf, you dont have half the buying power you have on 50k in berlin, which is an entry level salary.

Berlin is the tech startup capital of europe, so I guess the comparison is somewhat justified.

We are all entitled a college degree. Not because were spoiled. Or maybe we are. But every single one of us gets a college degree if we want to work for one. If were broke we get financial aid.

Jelly yet?

What the fuck is wrong with your laundry detergents.
 
^^^ US colleges are expensive because of government intervention. If taxpayers weren't forced to subsidize and guarantee student loans, very few of them would be made.

Think about it. What bank would loan a history student, for example, $100k+ without a government guarantee? None. Colleges would have to adapt. Perhaps shrink campus sizes, offer online degrees, shrink bloated professor salaries, use less expensive buildings, etc. Wherever government gets involved, prices goes up and quality goes down.

US medical care would be cheaper without massive government intervention. Private medical facilities that refuse government money offer prices at a fraction of "non-profit" facilities that rely on taxpayer money. Government is the problem. Not the solution.

Procedures | Surgery Center of Oklahoma

BTW, remind me what the VAT and income taxes in Germany are again. TANSTAAFL.
 
I don't know any of this stuff because I'm an art college dropout but I think the part that makes her look bad is not getting a job and it's still 90k off her college experience.

I don't know if the whole community college for 2 years then transferring still works, but that probably would have covered 4 years. I know these colleges are such scams now though with 'transferable credits' (in a lot of cases it makes sense though).

I didn't listen to the radio show just the article and her parents throwing her 90k without a plan doesn't seem right. They should know if she can handle the responsibility. What makes it worse for her is her going on air and dishing all her issues and making the entire family look bad.
 
Fatbat said:
A smart person would have started a company with it.
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That's easier said than done. 99% of people would not be accepting of their kid starting a company vs going to college. And that includes doctors, lawyers, etc.

Unless your parent is an entrepreneur, or understands how the game works, then it's doubtful that they'll encourage you to start a company.

As an example of that mindset: my friend left an Ivy League school to go to Silicon Valley two years ago. He makes $100k+ a year now, and has incredible prospects. However, he's going back to school to finish his degree. Why? Because for the past two years, his Chinese parents have been telling him to get his degree. So after 2 years of nagging he gave in.

Now imagine that your parents aren't entrepreneurs, and you get $90k for college. You want to start a business, however, everyone's telling you that you'll fail because you don't have a college education. Are you really going to risk getting ostracized by your friends and family? Or will you take the acceptable route?
 
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