Author Topic: college partying funded by parents  (Read 5065 times)

rob in cal

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college partying funded by parents
« on: August 09, 2015, 09:27:02 PM »
    I wonder if there has been a study of how much money is spent by heavy partying college students, and how much of that, on average is funded by parents, how much by the students themselves, how much by debt etc.  Obviously, the funding couldn't be directly tied to one income source in many cases, but it would be interesting to see if students whose parents pay for most or  all of their studies are more or less likely to be serious partiers.  Also, what about all the wasted time and energy that could be used for work while in school that instead  for partying.  How much of the overall student loan crisis in general could be ameliorated with a less partying policy.

Logic_Lady

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Re: college partying funded by parents
« Reply #1 on: August 10, 2015, 12:02:36 AM »
If I extrapolate from the few parties I went to in college, partying every weekend would probably still have been less costly than my textbooks, let alone tuition/housing/food. I would guess that students who aren't working have more time to party though.

Goldielocks

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Re: college partying funded by parents
« Reply #2 on: August 10, 2015, 12:20:14 AM »
My unscientific study:

Purchases of MAC lipstick is directly proportional to size of student loan offered.


Those with parents funding most of it just ate well, bought new textbooks and wore new, but modest, clothes.  Some had nicer accommodation, but were not parties all the time.

Student loans tended to result in excess spending.

Doubleh

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Re: college partying funded by parents
« Reply #3 on: August 10, 2015, 12:25:29 AM »
I take issue with the suggestive that studying is a worthwhile use of time in college and partying isn't. Nearly 15 years after graduating I'm not in regular contact with people I studied with, but meet up about once a month my the group of friends I used to party with. They include lawyers, doctors, veterinary surgeons, school teachers and army officers.

Now it happens that most of our partying was done on the cheap, or even paid for by the British equivalent of ROTC so I'm not condoning crazy spendyness, but I do think that the time I spent developing the group of friends that have stuck by me through life was one of the most worthwhile things I got out of the whole college experience.

Edited to add:

I believe in hindsight sociologists call this networking and developing social capital. But at the time is felt - and certainly looked - a lot like partying
« Last Edit: August 10, 2015, 12:31:06 AM by Doubleh »

MgoSam

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Re: college partying funded by parents
« Reply #4 on: August 10, 2015, 07:35:12 AM »

I believe in hindsight sociologists call this networking and developing social capital. But at the time is felt - and certainly looked - a lot like partying

The differences between partying and networking are only a different term and the fact that one may be a tax write-off.

YoungInvestor

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Re: college partying funded by parents
« Reply #5 on: August 10, 2015, 08:10:37 AM »
I don't think you're looking at this the right way.

Partying is "necessary" to some extent. Most people want, and are better off with, living some crazy experiences. Life is pretty worthless if all you do is simply to maximize your future and you never focus on the present.

The vast majority of people I know did some partying, some of it a bit crazy, but are perfectly well adjusted today. They might be slightly richer if they hadn't, but I think they'd mostly be more bitter.

CommonCents

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Re: college partying funded by parents
« Reply #6 on: August 10, 2015, 08:50:03 AM »
As YoungInvestor notes, people need some fun/activities.  You can (and many students do) have cheap ones.  Frankly, even a lot of drinking really cheap beer from kegs is better than expensive hobbies people mention on this board, ranging from owning planes to owning horses.

Also not really clear how you are going to implement a "less partying policy" but I bet my college administrators would love to know.  I also highly doubt this policy would solve the student loan crisis.  My tuition, fees etc. was approximately $30k per year.  I think I paid about $300/yr to be in a sorority (though I didn't do much partying - and I paid for it, my books and other expenses out of a part-time job).  I think the "really expensive" fraternities were still about $1000/year.  While not insignificant, that's peanuts compared to $30k.

I'm not a libertarian, but I think that this isn't your problem - let people make their own mistakes. 
« Last Edit: August 14, 2015, 08:46:54 AM by CommonCents »

sheepstache

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Re: college partying funded by parents
« Reply #7 on: August 10, 2015, 08:57:23 AM »
I take issue with the suggestive that studying is a worthwhile use of time in college and partying isn't. Nearly 15 years after graduating I'm not in regular contact with people I studied with, but meet up about once a month my the group of friends I used to party with. They include lawyers, doctors, veterinary surgeons, school teachers and army officers.


But presumably study was important to their becoming lawyers, doctors, etc., right? So you're probably just taking issue with the suggestion that partying isn't a worthwhile use of time.

Bob W

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Re: college partying funded by parents
« Reply #8 on: August 10, 2015, 09:17:17 AM »
My understanding of how student loans work now is that the money can be used for virtually anything.  So college kids today are driving nicer cars, going on nice vacations and generally living higher off the hog.   Sure some of them "party" as well, but beer and weed are pretty cheap in comparison to a 6K winter term in Italy.   


humbleMouse

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Re: college partying funded by parents
« Reply #9 on: August 10, 2015, 12:18:04 PM »
Well, I can be your first data point.  I spent probably about 2/3 of my loan money parting/funding "study abroad"

Doubleh

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Re: college partying funded by parents
« Reply #10 on: August 10, 2015, 03:25:07 PM »
I take issue with the suggestive that studying is a worthwhile use of time in college and partying isn't. Nearly 15 years after graduating I'm not in regular contact with people I studied with, but meet up about once a month my the group of friends I used to party with. They include lawyers, doctors, veterinary surgeons, school teachers and army officers.


But presumably study was important to their becoming lawyers, doctors, etc., right? So you're probably just taking issue with the suggestion that partying isn't a worthwhile use of time.

Absolutely - of course the studying is important, it's the false dichotomy I'm taking issue with.

That said I do think that with better availability of information through the Internet via online classes and MOOCs, college is becoming less and less necessary for the pure knowledge transfer of formal studying. As a result I see the differentiators of attending a bricks and mortar college to be more about the opportunities for life experience, soft skills and emotional growth.

EricP

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Re: college partying funded by parents
« Reply #11 on: August 10, 2015, 03:47:17 PM »
I take issue with the suggestive that studying is a worthwhile use of time in college and partying isn't. Nearly 15 years after graduating I'm not in regular contact with people I studied with, but meet up about once a month my the group of friends I used to party with. They include lawyers, doctors, veterinary surgeons, school teachers and army officers.

Now it happens that most of our partying was done on the cheap, or even paid for by the British equivalent of ROTC so I'm not condoning crazy spendyness, but I do think that the time I spent developing the group of friends that have stuck by me through life was one of the most worthwhile things I got out of the whole college experience.

Edited to add:

I believe in hindsight sociologists call this networking and developing social capital. But at the time is felt - and certainly looked - a lot like partying

Reading between the lines here, it would seem that you partied with your fellow "ROTC" members.  Am I right?  Because if it's anything like America, you're spending a considerable amount of time outside of partying with these guys.  So if I'm right, it seems a little disingenuous to act like partying is the reason you're still in contact.

nobodyspecial

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Re: college partying funded by parents
« Reply #12 on: August 16, 2015, 10:53:53 AM »
I take issue with the suggestive that studying is a worthwhile use of time in college and partying isn't.
You are suggesting that the members of the Bullingdon club didn't get where they are today because of their academic excellence?

Doubleh

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Re: college partying funded by parents
« Reply #13 on: August 16, 2015, 11:51:34 AM »
I take issue with the suggestive that studying is a worthwhile use of time in college and partying isn't. Nearly 15 years after graduating I'm not in regular contact with people I studied with, but meet up about once a month my the group of friends I used to party with. They include lawyers, doctors, veterinary surgeons, school teachers and army officers.

Now it happens that most of our partying was done on the cheap, or even paid for by the British equivalent of ROTC so I'm not condoning crazy spendyness, but I do think that the time I spent developing the group of friends that have stuck by me through life was one of the most worthwhile things I got out of the whole college experience.

Edited to add:

I believe in hindsight sociologists call this networking and developing social capital. But at the time is felt - and certainly looked - a lot like partying

Reading between the lines here, it would seem that you partied with your fellow "ROTC" members.  Am I right?  Because if it's anything like America, you're spending a considerable amount of time outside of partying with these guys.  So if I'm right, it seems a little disingenuous to act like partying is the reason you're still in contact.

Yes and no. OTC certainly involved a lot of bonding activities other than partying, and there were a lot of people there who I lost touch with. The guys that have stuck through thick &  thin are the ones I partied with.

As to the Bullingdon club, I couldn't possibly comment!

clarkfan1979

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Re: college partying funded by parents
« Reply #14 on: September 05, 2015, 12:59:17 PM »
The typical college party is $5 for a red solo cup for keg beer. I would be more worried about Starbucks.

Cwadda

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Re: college partying funded by parents
« Reply #15 on: September 05, 2015, 02:46:56 PM »
The typical college party is $5 for a red solo cup for keg beer. I would be more worried about Starbucks.

I agree. For me, partying costs about $8 per night on average. This is when I'm doing one of: drinking excellent alcohol, going to the bar, or paying for rides to a party. I do one of those options about once a week. It could be a lot cheaper too, but I think the $ is worth the bad hangovers.

Then I see people drop that amount on a trip to Starbucks, and multiple times per week.


shelivesthedream

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Re: college partying funded by parents
« Reply #16 on: September 05, 2015, 03:07:04 PM »
Genuine student partying is really not expensive. It involves going to someone's house/flat/room, everyone bringing a bottle and staying up to the wee hours. It's this going out business (10 cocktails?!) that gets expensive. I'd be more worried about students who eat out all the time and never cook (student hall food doesn't count), wear designer clothes, have the latest phone on a huge data plan and drive cars.

markbike528CBX

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Re: college partying funded by parents
« Reply #17 on: September 05, 2015, 03:07:25 PM »
For full cost disclosure of college partying please add ~$7.50 for the first edition of
http://www.abebooks.com/Complete-Book-Beer-Drinking-Games-Griscom/58287781/bd

This book can double as literature, history and social interaction credits too!