Student Loans & Weed – Is There A Connection?
Excuse for weed or explanation? We report – you decide!
For starters, student loan debt is very real and very large. According to the Federal Reserve, student loan debt has surpassed credit card debt and now exceeds more than $1.4 trillion.
2015 --the latest year for updated national information—showed 68% of 2015 bachelor's degree recipients graduated with an average student loan debt of $30,100 per borrower. In Washington State it was a little less, 57% of 2015 graduates owed on student loans averaging $24,600.
So, what’s an indebt student to do? Smoke pot of course.
A team of analysts at the firm Cowen surmised that the debt is causing young price sensitive millennials in search of intoxicants to go for marijuana because it gives a stronger high than alcohol.
Supporting their contention they noted that over the past seven years, cannabis usage among those between 18-25 has risen 4.6 percent in the U.S., while alcohol consumption has fallen 2.5 percent.
But buyer beware, students convicted of marijuana possession become ineligible for federal student loans. (Time)