The student loan debt has increased to a record $1.4 trillion dollars, and it’s spread out among 44,000+ students, who have an average debt of $37,172 each with a lot of other variables involved. It doesn’t seem like an ideal situation to be in, the strain of such debt has pushed some people to get “creative.”
As of now, there’s a new trend going on that’s gaining a lot of popularity between young women and the occasional male, we’re talking about sugar daddies, that is usually mature men of fulsome purchasing power, willing to fully or in part cover the expenses of their sugar babies.
https://twitter.com/seekarrangement/status/928762921299140608
While the new terminology doesn’t really make the arrangement sound all that different from what the popular notion of these type of services, it’s what’s developing in the background what has caught the attention of many, and that is the fact that there is a direct correlation between the student loan debt and the increased number of college students that are signing up for the companies that provide these services.
Back in 2016, some 2.5 million sugar babies, identified as students in a website called SeekingArrangement.com, an American sugar baby and sugar daddy dating website founded by MIT graduate Brandon Wade in San Francisco, California in 2006. The website currently counts with 10 million members worldwide, making it the biggest Sugar Baby and Sugar Daddy dating site on the internet.
https://twitter.com/seekarrangement/status/850380154002169856
The dating site has actually encouraged students to take this route, a couple of years ago when they picked up on the increasing number of people signing up using university emails, the company launched a new campaign dubbed ‘Sugar Baby University’ that targeted indebted college students and young people who are interested in getting an education but can’t afford it and/or are afraid of taking out huge loans.
So it’s not a surprise that 25% of SeekingArrangement.com members happen to be college students, but if you take that number and compare it with the total number of students with debt, you will get that 5.6% of all students are using the services of SeekingArrangement.com to pay off their debt, this number does not account for students using the same unorthodox methods outside this webpage.
https://twitter.com/seekarrangement/status/821450762433675264
The average annual income for a sugar daddy on SeekingArrangement.com is of $250,000 and the average net worth of each is of $1.5 million. What they get out of their sugar babies varies from companionship to a mentor-mentee relationship and in some of the cases, physical intimacy.
https://twitter.com/seekarrangement/status/820054463633391620
Article inspired by Yahoo Lifestyle // Millions of college students are so terrified of loans they’re turning to ‘Sugar Daddies’ for help paying for school