A large percentage of the $1.48 trillion student loan debt accumulated by Americans was never spent on tuition at all. Instead, much of that money went towards everything from beer, Bitcoin, spring break shenanigans and exotic reptiles.
More than one in five; or 21.2% of college students, surveyed by The Student Loan Report admitted to spending student loan money on cryptocurrencies like Bitcoin (BTC). That speculation is risky because Bitcoins lost almost 65% of their value between December 2017 and April 2018. A Bitcoin was trading at $19,205.11 on December 17, 2017, and $6,701.40 on April 5, 2018, data from Coinbase indicates. (Read complete column)