Money to Blow! Students Spending Loan Money on Dumb Things

AUSTIN -- Remember those college friends who always had extra money to blow? While you were struggling to buy a pack of Ramen, they were buying everybody a round of shots!

Well, we might have the answers to how they were ballin' on a budget.

According to a survey from Student Loan Hero , 4 out of 5 students spend loan money on things other than their education. By "other" we mean vacations, clothes, cars, alcohol, and drugs--everything other than books!

41% surveyed said they paid for things like cell phone bills with Sallie Mae's money.

Well, what goes around comes around because the study also says students who don't budget their money wisely end up with the most student loan debt!

Helloooo interest!

Let that be a lesson in Stuntin' 101, you can't overspend with money you don't really have!