Bitcoins is better. One fifth of American students entered the world of cryptocurrencies and did so using the funds granted to finance their studies. To be precise, 21.2% of the students at the college who have had access to a loan for studies have used the funds to test themselves with the purchase of cryptocurrencies.
This is the result of a survey just published by The Student Loan Report, which has asked a thousand students the direct question: "Have you ever used the loan for studies to invest in cryptocurrencies like bitcoins?".
The investments in the cryptoworld were the hot sector of 2017 and it is known that young people are especially attracted by the innovation of cryptocurrencies and the idea of a currency without central authority and all digital, managed directly from the phone without having to go through any intermediary. The bitcoin performance, which arrived in December to reach a peak close to 20,000 dollars compared to less than 1,000 at the beginning of the year, did the rest.
But it was not so immediate to divert the funds granted for the bitcoin investment study. In fact, these loans, particularly widespread in the United States in consideration of the high costs of the college and universities, provide that a portion of the funds can be used for "daily needs", for board and lodging.
What happens is that the educational institution returns a check to the student with the amount not used to pay the semester courses and there is no control over how the residual is spent. This leaves room for alternative uses, even to chase the mirage of earnings that have proved too easy.
According to the figures published by the same site, seven out of ten students who completed their studies in 2015 had made use of the school loan, with an average figure of just under $ 30,000.