Students are now turning to crypto to plug the financial gap that comes with schooling. It is no surprise that the cost of schooling has gone up tremendously over the years. Now more than ever, students are graduating with tens of thousands of dollars in student debt. But even the massive loans students have to take out to pay for schooling do not cover everything.
Things like food, rent, and commute are big issues for students. And by the time their student loans come in, there are sometimes gaps left to be filled by funds from other sources. It has been historically the case for students to take part-time jobs to fill these gaps. But with the pandemic, the part-time job market has been unstable, to say the least. Students are also usually left to rely on parents to plug this gap. But parents’ incomes being affected by the pandemic have driven students to find another way of filling this gap. This is where crypto enters the picture.
Using Crypto To Plug The Gap
The pandemic and school closures left a lot of students with time on their hands as countries went into lockdown. Unable to work and with dwindling savings, a lot of students have had to look towards other means of income to supplement their loans. Loans usually cover about 58% of student expenses, according to this report.
Concerns have been raised about students investing due to the hype, “without a full understanding the risks and effective strategies involved in these trades.” This has raised the need for proper financial education and information regarding these trades. In order to make sure that these students are making the best decisions when it comes to investing in crypto.
Article By Best Owie – Bitcoinist.com
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