Kid blows $90,000 college fund, blames parents

One day people like her will lead this nation...

http://finance.yahoo.com/news/a-college-student-blows-inheritance-bert-show-205833329.html

Atlanta radio program “The Bert Show” had a guest on this week who has managed to incite the rage of just about every millennial in the state of Georgia (and beyond, the show is syndicated in 11 states).

The woman, a 22-year-old college junior named Kim, who did not give her last name on air and was allowed to use a voice disguiser to even further shield her identity, came to the three hosts with a confession: in just short three years she had managed to blow through a $90,000 college fund left to her by her grandparents. Kim has one year left of school and no way to cover her remaining $20,000 tuition balance.

The show’s hosts try to give Kim the benefit of the doubt. She’s come to them (for some untold reason — perhaps a financial aid officer would have been a wiser choice) in a time of great need and they at least want to try to help her.

But what followed has to be one of the most painful interviews that has ever been aired on national radio. Kim manages to personify just about every parent’s worst nightmare — an entitled 20-something who asks for handouts rather than face the very real financial challenges of young adulthood. You can listen to the full interview online at TheBertShow.com, but we’ve shared the highlights of Kim’s cringe-inducing description of her predicament below.

"Years ago my grandparents set up a college fund for me, which was amazing, and I haven’t been very good with my budget for school. The first payment for my senior year just arrived and I don’t have the money basically. I’ve just been avoiding it. I knew the bill was coming.”

“I used it to budget for school clothes and college break money. I probably should have not done that. I took a trip to Europe. The Europe thing I thought was part of my education and that’s how I tried to justify that.”

“Maybe [my parents] should have taught me to budget or something. They never sat me down and had a real serious talk about it.”


“[My parents] said there was nothing they could do for me. They’re not being honest with me saying they don't have [money] because my dad has worked for like a million years and they have a retirement account.”

“Then my parents suggested I go take out a loan at a credit union and I’m, like, how am I supposed to do that?"

“I know they’re trying to teach me a lesson and blah blah blah and character building but, like, I hope they realize [working part-time] could have such a negative effect on my grades and as a person."

Here’s what’s most infuriating about Kim’s situation: Not only is she admitting that she had — and squandered — a $90,000 college fund that was supposed to cover her college expenses , but she completely lacks any remorse. She says she feels "stressed" but not once does she seem grateful for her good fortune or ashamed about blowing it in three short years.

Plenty of students juggle work and school to cover their tuition costs. In fact, three-quarters of college students work at least part-time throughout school to cover tuition costs, according to a forthcoming survey from student lender Sallie Mae. There are other ways college kids can lower the cost of college — if they think ahead — such as scholarships, low-interest federal student loans or work-study programs on campus. The downside is that all of those options require some preparation at least a year in advance. Kim has missed the deadline for all of them.

Not surprisingly, the show’s hosts have a really hard time keeping it together. We have to give major kudos to co-host Kristin Klingshirn who (despite the fact that she herself had to work three jobs to pay for college, she said) was the only one who did not completely give up on Kim’s ability to get it together. “I think you’re learning an even more valuable lesson than you could in any of your classes,” Klingshirn told her.

Read more: 5 tips to improve your resume

Eventually, it does seem as if Kim starts to get the message. Her parents refused to cosign a loan to cover her tuition shortfall unless she got a job. She called the show on Thursday to give her fourth and final update: She has come to grips with the fact that she will, indeed, have to get a job. We almost felt a bit sorry for her when she started explaining how difficult it has been to find a place that will hire her because she has no job history.

“I feel like I’m back at square one,” she said. “I’m hustling to do this and to make this work.”

Listening to this young woman slowly start to understand the value of abstract concepts like hard work and responsibility was as equally gratifying as it was boggling to the mind. All we have to say is this: “The Bert Show” deserves a special award for services to their country. Thanks to them, there may be one less 20-something out there giving millennials a bad rap.

She's proof Even with a good education you can still be a fucking idiot

Lots of girls work stripper jobs to pay for college. Phone Post

KneeToFaceKO - Lots of girls work stripper jobs to pay for college. Phone Post
This is a valid point,
But she sounds fat.

I guess making my son do chores to earn his allowance isnt such a bad idea after all. Phone Post 3.0

I bet she was taking women's study courses anyway. Or some stupid art degree. lol

Poor parents.

I was going to say spending 90k in three years sounds reasonable, expecially when tuition is 20k a year. But i think the problem everyone is having is with her attitude. It is nothing new with millennials. I've known bitches like this my whole life. What's sad is some idiot will marry her. Phone Post 3.0

KneeToFaceKO - 

Lots of girls work stripper jobs to pay for college. Phone Post



"No honey, it's not glitter.... But I'm helping to educate! THINK OF OUR COUNTRY'S FUTURE!"

If her parents co sign a loan for her, she will lose her job quickly and claim she can't find another. Fuck her. I worked 2 jobs while going through college and it only took me 3 years to get a 4 year degree. Phone Post 3.0

Mayfield - I was going to say spending 90k in three years sounds reasonable, expecially when tuition is 20k a year. But i think the problem everyone is having is with her attitude. It is nothing new with millennials. I've known bitches like this my whole life. What's sad is some idiot will marry her. Phone Post 3.0


precisely - this isn't a millennial thing. I knew plenty of girls in college who spent every cent they had before their loans were due




  1. One girl, that i dated and then broke up with after i found out about her financial situation, went through $40k in a year and a half (not paying loans - spending it on vacations and clothes). then on top of that ran up $29k in credit card debt.  Declared bankruptcy by age 24


  2. A girl who dated a friend of mine cried every night about not being able to afford a house - but took two $10k+ vacations a year every year.  Eventually depleted the money her parents left her when they died. Her younger sister - who was 10 years younger put all that money down on a house.


  3. When my dad died each of the three kids got a little bit of $ (our mom is still alive) from stuff that he set up.  My older sister was in her 30s at the time spent every cent of it within 2 months.  Food, booze and vacations.  She doesn't have a job (she's 48 now) and complains about not having any $$.  She embodies the entitled millennial, but she's near 50. 

In all fairness, she's right that her parents raised an asshole. They are bigger assholes than she is, and that is saying something. That attitude is 100% preventable by parents during upbringing.

I worked shitty labor jobs to get my degrees. Fuck her Phone Post 3.0

it is her parents fault - they failed to prepare her for real life and now they are letting her sink. when they failed to prepare her to be an adult, that's why you have a 20 year old sounding like she's 12.

PTA - 
Mayfield - I was going to say spending 90k in three years sounds reasonable, expecially when tuition is 20k a year. But i think the problem everyone is having is with her attitude. It is nothing new with millennials. I've known bitches like this my whole life. What's sad is some idiot will marry her. Phone Post 3.0


precisely - this isn't a millennial thing. I knew plenty of girls in college who spent every cent they had before their loans were due




  1. One girl, that i dated and then broke up with after i found out about her financial situation, went through $40k in a year and a half (not paying loans - spending it on vacations and clothes). then on top of that ran up $29k in credit card debt.  Declared bankruptcy by age 24


  2. A girl who dated a friend of mine cried every night about not being able to afford a house - but took two $10k+ vacations a year every year.  Eventually depleted the money her parents left her when they died. Her younger sister - who was 10 years younger put all that money down on a house.


  3. When my dad died each of the three kids got a little bit of $ (our mom is still alive) from stuff that he set up.  My older sister was in her 30s at the time spent every cent of it within 2 months.  Food, booze and vacations.  She doesn't have a job (she's 48 now) and complains about not having any $$.  She embodies the entitled millennial, but she's near 50. 



I think there are different ways brains are wired. For me I cannot imagine having a nest egg, and instead of sitting on it waiting for it to hatch into a golden goose, just cracking it open and feasting on it like a demented cannibal hen.


 


I know a guy who's 25, decent job. He got a pay rise so now he flies business class every country he goes to. He's not rich, he just got a pay rise and thought "what can I consume to relieve me off this money". Odd mentality.


 


My step-dad is the same way. Owned his own business, made good money, had no savings, no pension, no investments. Spent every penny he made on useless junk. He'd make 5k on a job and say "right I'll spend that on X". The thought of budgeting or saving didn't even enter.

This isn't new. Saw tons of privileged kids blow their parents' money like this in school. Meanwhile I worked full time while going to school full time, worked every break and paid my own way through undergrad. Took loans for law school because I couldn't have possibly made a dent in the 45K a year tuition with any kind of job I could have gotten.

Won't give last name? uses voice disguiser? came to them "for some untold reason"?

This sounds like total BS. Kim doesn't exist. This is some idea one of the radio show people had to stir up some attention to their show. "Kim" is probably played by one of the regular employees.

RoryTheRedNosedPunchingBag - 
Mayfield - I was going to say spending 90k in three years sounds reasonable, expecially when tuition is 20k a year. But i think the problem everyone is having is with her attitude. It is nothing new with millennials. I've known bitches like this my whole life. What's sad is some idiot will marry her. Phone Post 3.0
Yeah, I'm failing to see the issue.

While I wasn't just given 90k for my education, that is standard - or even low - for many. I knew tons of kids who had 150k of tuition paid, a generous allowance for 4 years, and other benefits.

I also support her arguments that her parents should have helped her with a budget or should help her with the process of taking out loans. One could say it was dumb of her parents to let their 18yo have total control of the of the 90k. Phone Post 3.0


She was 18, not 8. How can an 18yo not be able to divide 90 by 4 and spend that much each year? It's completely retarded.

sadic1 - In all fairness, she's right that her parents raised an asshole. They are bigger assholes than she is, and that is saying something. That attitude is 100% preventable by parents during upbringing.
Meh.

I know a couple who did all the right things and they have almost the exact same story as this. And truthfully nobody saw it coming because their daughter was honestly pretty awesome until she went off to college.

But generally yeah. Phone Post 3.0

Fake Pie - This isn't new. Saw tons of privileged kids blow their parents' money like this in school. Meanwhile I worked full time while going to school full time, worked every break and paid my own way through undergrad. Took loans for law school because I couldn't have possibly made a dent in the 45K a year tuition with any kind of job I could have gotten.


Vu

For starters, going by how these stories tend to end up, there is a far greater chance this is a hoax/publicity stunt to get people riled up and bring attention to the radio show than an actual person with an actual problem.

 

Secondly, if tuition is $20k a year, then $90k in three years doesn't sound unreasonable at all.

Tuition is NOT cost of attendance, which includes things like books, room and board for when she was an undergrad (if she lives off campus now), and constantly rising student fees.

Of course stuff like a European vacation when you're on a fixed budget isn't the smartest thing to do, but she would hardly be the first college student to take a trip overseas when they can't afford it.

 

Regardless, this story is likely a publicity stunt and no such persone exists, so it's all moot.

scourge - Won't give last name? uses voice disguiser? came to them "for some untold reason"?

This sounds like total BS. Kim doesn't exist. This is some idea one of the radio show people had to stir up some attention to their show. "Kim" is probably played by one of the regular employees.

I worked in radio... you are correct. This never happened. It's not real.

Plus that show is god awful and would totally do something as lame as making up a fake guest. Still better than the fake "war of the roses" crap.