Vices That Are Making College Students Go Broke

The college years are a wonderful time of self-discovery, self-awareness and self-reliance and these can be daunting to some people ill-equipped to handle the sudden freedom when they leave home to pursue their studies and further their growth as individuals. Sometimes that freedom comes with a terrible price – one which parents often wind up paying. Here are the top college student vices that are making you broke.

1. Poor Study Habits


This seemingly innocuous bad habit appears at first glance to be a minor irritant at best, one your child will outgrow eventually. But poor study habits lead to failed courses, even repeated semesters. When you consider the cost of college this bad habit can put you in the poor house before school’s out. You’d save money getting your child their own apartment and paying their expenses for a year while they contemplated their navels instead of sending them off to college to take the same courses again and again.

2. Drinking


A strong case could be made that this is the most expensive bad habit students get into once the ‘shackles’ are off. College drinking is legendary and can lead to a host of problems big, small and costly. Not only are college kids likely to spend all their money on beer (thus hitting you up for more) but drinking can lead to long-term addiction – the cost of which is not just measured by dollars and cents. Plus excessive drinking can lead to those costly poor study habits mentioned above.

3. Partying


Another staple of college life, partying is something of a rite of passage. But it can be a dangerous one as well as costly. Large groups of drunken teens are trouble waiting to happen. Property damage, arrests, trips to the emergency room to treat injuries from fighting, horseplay or stunts will break the bank while breaking your heart.

4. Drugs


Much like drinking, drug use on campus is a Pandora’s Box of woes just waiting to be unleashed. And the first 3 items on this list can lead your child down this dark road. Late night cramming, all-night partying, killer hangovers… can all send your child hunting for something to help them stay ‘up’ in class. The cost here could be your child’s soul.

5. Testing The Limits


College may be the first time your child has been free of parental supervision for a prolonged period of time, making it a time for him or her to test their limits, push the envelope and see what happens. The sad part here is that this is essential to their development while at the same time being costly to you and to them. Excessive speed while driving can wreck that car you bought them or worse, wreck them. Drinking and narcotics can lead to sexual indiscretions, unwanted pregnancies or sexually-transmitted diseases requiring treatment.