Life and Religion
|More students sign up for sugar daddies to pay for college|
|As debt rises, hunt is on for benefactors|
|Published Saturday, January 21, 2017 8:42 am|
More college students are turning into sugar babies to pay for school.
With $1.3 trillion in U.S. student debt, more are going the non-traditional route by arranging relationships with wealthy benefactors called sugar daddies or sugar mamas who pay a monthly allowance for companionship.
There are an estimated 16 million college students in the U.S. who carry an average debt of $37,172. Sixty percent of college graduate are burdened by student debt.
“While it’s easy to get lost in the numbers, the truth is we have an epidemic on our hands,” says Brandon Wade, founder and CEO of SeekingArrangement.com, a sugar baby dating website that claims 1.2 million registered users. “Students are tired of hearing politicians’ hyperbole about what they might do to resolve the student debt crisis. They’re taking matters into their own hands.”
SeekingArrangement.com recently released its list of the 20 fastest-growing schools for sugar babies. Temple University in Philadelphia leads the class with 1,068 students, including 296 new applicants. Howard University in Washington, D.C., is the only historically black school in the top 20 at No. 18 with 225 students, including 79 newcomers in 2016.
No Carolinas schools are in the top 20, but UNC Charlotte is 39th with 211 students on the sugar daddy dating site, a 28 percent increase from the previous year with 50 new registrants. On average, UNCC students graduated with $27,267 in debt last year, often cited by students as the reason they’re turning to the sugar baby lifestyle.
The average sugar baby earns an average monthly allowance of $2,400.
The average cost of tuition at public four-year institutions rose by 9 percent between 2011-17 and 43 million Americans have student debt. An estimated 20.5 million students that attended U.S. colleges as of fall 2016.
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