4 ms·

College students are increasingly finding ‘sugar daddies’ preferable to loans

3 points by molteanu 7y ago

anovikov 7y ago
I read before that student debt is not dischargeable, but can anyone explain me please, why? I mean, what makes it so different from any other kind of debt?
- mdorazio 7y ago
  The normally given reason is that the asset being paid for (education) can’t be taken back by the loan provider. If you get a mortgage and can’t repay it, the bank repossesses your house. If you get a college education and can’t pay your student loan, the bank can’t take back your degree or what you learned. This is, of course, not any kind of valid basis for the current status quo and in a sane setup lenders would either have to be much pickier about who they lend to or require tangible collateral.
  - anovikov 7y ago
    But what if you can't repay your credit card debt for example? There's also no collateral.
    - Ambele 7y ago
      Credit card interest rates typically range from 20 to 25%. Students have a thin credit file and wouldn't qualify for lower rates. Student loan interest rates range from 6.6% to 7.6%. If a percentage of student loans were allowed to default, then student loan rates would have to increase much more for the lenders to break even. Hopefully the Fed would consider bailing out the students like they did with the big banks but I wouldn't bet on it.
cpitman 7y ago
Without further evidence, this article seems patently false. It essentially claims that over 1 in 10 American college students are looking for sugars daddies on a single website. What seems far more likely is that, like every "matchmaking" website, there is a majority of accounts that are made up. They are obviously motivated to tout the number of young college kids in their marketing to attract the money, ie sugar daddies, to their website.
- anovikov 7y ago
  Is that really the case that majority of accounts on matchmaking websites are made up? Why? Here in Europe, definitely not the case. Sometimes there are blatant, obviously spam accounts that send links to porn and scam sites, i don't mean these. But other than that, i have yet to see an obviously fake profile being in Czech Republic or Belarus (here in Cyprus they are sort of a thing, but in a different way - people who don't really live here but looking for a man to pull them out of the sh*thole countries they live in, like Ukraine or Moldova, but they are still real people - i know coz i dated many of them). Why would that be any different in the U.S.? Are women for some reasons reluctant to join?
  - dkersten 7y ago
    > I s that really the case that majority of accounts on matchmaking websites are made up? Why? There are plenty of stories like this one: https://www.aarp.org/money/scams-fraud/info-2019/match-group-dating-scam.html https://www.aarp.org/money/scams-fraud/info-2019/match-group... > Are women for some reasons reluctant to join? Anecdotally, I would say yes because most women have a lot more prospects than most men do and are already receiving way more attention from men than they want, so they simply have little need for it in comparison to men. Or at least, when they do go in matchmaking sites they receive many many requests so are “taken” very quickly while most men do not get any, so women cycle through the service much faster than men do.
    - anovikov 7y ago
      Makes me feel so happy about living in Europe. Here's where old 'In Soviet Russia' joke works, for real. But why does it work that way? Men are more interested in relationship than women? Isn't it supposed to naturally be other way around?
      - dkersten 7y ago
        Women have more prospects than men. The average woman has a lot more men going after them than the men do, so they can be picky. Just go to a pub or nightclub and you will see that most women get hit on by many men. I didn’t check these particularly hard for quality, but quick google search: from https://www.elitedaily.com/social-news/men-women-tinder-experiment/1310866 https://www.elitedaily.com/social-news/men-women-tinder-expe... > After one day, Brian accrued 269 matches and had a mere 28 messages in his inbox; whereas, Briana had 701 matches and 378 messages waiting for her reply. Also: https://www.independent.co.uk/life-style/love-sex/women-men-dating-websites-picky-australia-study-a8418886.html https://www.independent.co.uk/life-style/love-sex/women-men-... https://www.reddit.com/r/OkCupid/comments/3j4r6d/why_do_you_think_there_are_more_men_than_women_on/ https://www.reddit.com/r/OkCupid/comments/3j4r6d/why_do_you_... For what it’s worth, I live in Western Europe and my experience is similar to that of America.

3 points by molteanu 7y ago

I read before that student debt is not dischargeable, but can anyone explain me please, why? I mean, what makes it so different from any other kind of debt?

mdorazio 7y ago
The normally given reason is that the asset being paid for (education) can’t be taken back by the loan provider. If you get a mortgage and can’t repay it, the bank repossesses your house. If you get a college education and can’t pay your student loan, the bank can’t take back your degree or what you learned. This is, of course, not any kind of valid basis for the current status quo and in a sane setup lenders would either have to be much pickier about who they lend to or require tangible collateral.
- anovikov 7y ago
  But what if you can't repay your credit card debt for example? There's also no collateral.
  - Ambele 7y ago
    Credit card interest rates typically range from 20 to 25%. Students have a thin credit file and wouldn't qualify for lower rates. Student loan interest rates range from 6.6% to 7.6%. If a percentage of student loans were allowed to default, then student loan rates would have to increase much more for the lenders to break even. Hopefully the Fed would consider bailing out the students like they did with the big banks but I wouldn't bet on it.

cpitman 7y ago

Without further evidence, this article seems patently false. It essentially claims that over 1 in 10 American college students are looking for sugars daddies on a single website. What seems far more likely is that, like every "matchmaking" website, there is a majority of accounts that are made up. They are obviously motivated to tout the number of young college kids in their marketing to attract the money, ie sugar daddies, to their website.

anovikov 7y ago
Is that really the case that majority of accounts on matchmaking websites are made up? Why? Here in Europe, definitely not the case. Sometimes there are blatant, obviously spam accounts that send links to porn and scam sites, i don't mean these. But other than that, i have yet to see an obviously fake profile being in Czech Republic or Belarus (here in Cyprus they are sort of a thing, but in a different way - people who don't really live here but looking for a man to pull them out of the sh*thole countries they live in, like Ukraine or Moldova, but they are still real people - i know coz i dated many of them). Why would that be any different in the U.S.? Are women for some reasons reluctant to join?
- dkersten 7y ago
  > I s that really the case that majority of accounts on matchmaking websites are made up? Why? There are plenty of stories like this one: https://www.aarp.org/money/scams-fraud/info-2019/match-group-dating-scam.html https://www.aarp.org/money/scams-fraud/info-2019/match-group... > Are women for some reasons reluctant to join? Anecdotally, I would say yes because most women have a lot more prospects than most men do and are already receiving way more attention from men than they want, so they simply have little need for it in comparison to men. Or at least, when they do go in matchmaking sites they receive many many requests so are “taken” very quickly while most men do not get any, so women cycle through the service much faster than men do.
  - anovikov 7y ago
    Makes me feel so happy about living in Europe. Here's where old 'In Soviet Russia' joke works, for real. But why does it work that way? Men are more interested in relationship than women? Isn't it supposed to naturally be other way around?
    - dkersten 7y ago
      Women have more prospects than men. The average woman has a lot more men going after them than the men do, so they can be picky. Just go to a pub or nightclub and you will see that most women get hit on by many men. I didn’t check these particularly hard for quality, but quick google search: from https://www.elitedaily.com/social-news/men-women-tinder-experiment/1310866 https://www.elitedaily.com/social-news/men-women-tinder-expe... > After one day, Brian accrued 269 matches and had a mere 28 messages in his inbox; whereas, Briana had 701 matches and 378 messages waiting for her reply. Also: https://www.independent.co.uk/life-style/love-sex/women-men-dating-websites-picky-australia-study-a8418886.html https://www.independent.co.uk/life-style/love-sex/women-men-... https://www.reddit.com/r/OkCupid/comments/3j4r6d/why_do_you_think_there_are_more_men_than_women_on/ https://www.reddit.com/r/OkCupid/comments/3j4r6d/why_do_you_... For what it’s worth, I live in Western Europe and my experience is similar to that of America.