One college student has sparked controversy following a radio interview where she revealed she’s blown approximately $90,000 of her college fund. Although many students with educational loans have expressed frustration and outrage over her presumably frivolous spending, apparently, there’s more to her story. In addition to her shocking admission, she also revealed who she blames for her financial woes — her parents.
According to Opposing Views, the 22-year-old who only wishes to be identified as “Kim” estimates that she’ll be approaching her senior year of college with a $20,000 deficit, and at this point, she has no idea where the funds will come from. During the discussion on Atlanta’s radio broadcast, The Bert Show, Kim shared details about her college fund. Apparently, her college fund was set up by her grandparents. Although they worked very hard to afford her a college education most students dream of, she admitted that the decisions she’s made that led to financial ruin, reports Yahoo! Finance.
“Years ago my grandparents set up a college fund for me, which was amazing, and I haven’t been very good with my budget for school. The first payment for my senior year just arrived and I don’t have the money basically. I’ve just been avoiding it. I knew the bill was coming.
“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.”
The in-depth discussion led to radio co-hosts referring to Kim as “the millennial that even millennials hate.” Of course, the underlying suggestion didn’t sit well with Kim, who forged on defending her actions as if $90,000 is easy to acquire. When the radio co-host insisted that her actions are the result of poor money management, she adamantly argued otherwise by justifying her actions. As the argument progressed, they suggested that she just come clean with her parents and tell them the truth; she just can’t afford her senior year of college.
That’s when she fired back and blamed her parents for her financial hardships. She also slammed the suggestion of simply asking her parents for the funds, stating that they’d previously told her they could not assist her. Although she found the courage to contact them once more, she definitely didn’t receive the support and understanding she’d been hoping for. This only infuriated her because she insists they have money but, unfortunately, their funds just aren’t designated for her college tuition.
“[They] should have taught me to budget or something,” she said. “They never sat down with me and had a real serious talk about it. [My parents] said there was nothing they could do for me,” she said. “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.”
When the suggestion of a student loan was mentioned, she quickly expressed disdain for such seemingly improbable option.
“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?” she asked.
In fact, she also voiced concerns about getting a job to pay for school, arguing that having to work could negatively impact her academic performance.
“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.”
Needless to say, many people are flabbergasted by Kim’s arguments. However, there are some who actually support her arguments stating that her parents are partially to blame for her lack of independence.
Do you think that Kim’s parents are to blame because she blew her $90,000 college fund? Share your thoughts.
[Image via Wallpaper Dip]