Millennial shaming has begun just in time for March Madness.
It’s March, which means constant coverage of college basketball and coeds whiling away their days in bars and bikinis. But over the past few years angst about spring break has taken on a new flavor: finger-wagging about a supposed rash of students wasting their student loan dollars on a beach vacation.
The spate of stories on the topic originate from a survey by LendEdu, a consumer finance comparison site, which found that about 30% of students with debt plan to use their loans on spring break. This year, 57% of college students who receive student loans plan to use some of those funds to pay for their spring break trip, a according to a poll of 1,000 students conducted by the site and released this week. While those statistics are certainly headline-grabbing, they likely don’t accurately portray the circumstances (or intentions) of most student loan borrowers, experts say.