Why students go crypto
One-quarter of US college students are tapping into their loans to invest in cryptocurrencies. “Cryptocurrency was the hottest investment of 2017, especially for young Americans, so it is easy to understand why many college borrowers would think it was a savvy way to spend their refund cheques,” according to the Student Loan Report.
However, crypto prices have significantly fallen off from their record-highs and daily fluctuations are now more in line with regular stocks.
“Could they have used spent, or even saved, this money more prudently?” asks Student Loan Report. “Absolutely. A perfect example would be stowing that money away in a high-yield savings account that they could later use to chip away at their student debt.”
Image: Student Loan Report