FOMO, the fear of missing out, on the crazy gains that have been made in the crypto space has called some people to do some pretty crazy things. This includes students who are using money from their financial aid packages to buy cryptocurrencies.
Even more troublesome is that the students who are taking on the risks of crypto investing have student loan debt.
Let’s discuss the report that highlights this concerning phenomenon.
Throwing caution to the wind
When officials with The Student Loan Report set out to gauge the interest in crypto investing among college students, few may have thought the findings would turn out as they have.
Not only is there considerable interest, but it seems that a considerable number of students saddled with student loan debt are throwing caution to the wind in making choices that could put their financial futures at risk.
The survey was administered over the course of four days and the participants were asked the following:
“Have you ever used student loan money to invest in cryptocurrencies like Bitcoin?”
According to The Student Loan Report, a considerable number of college students who have student loan debt have used financial aid money to fund a cryptocurrency investment…
Read Full: Crypto FOMO Driving Students to Make Troubling Move; Many Using Loan Money to Buy Into Space