When the words “student loans” are uttered there is a second where people see themselves eating ramen noodles long after graduation and thinking about how it is their responsibility to pay it all off.

This raises the question: if it IS someone else’s to pay off, does anyone have the power to put restrictions on it?

The restriction would be put in place so that students could not use their money on things that are not necessarily considered a necessity to college. Such necessities would include things like buying books or paying for housing and anything outside of those categories would not be allowed.

We all know someone who uses refund money to fund their nights out or buy the latest sneakers. While this is not what student loans are for, it is still a personal choice whether you should save that money or blow it on frivolous expenses. An important part of being an adult is gaining a strengthened sense of financial literacy, part of this strength comes from making choices that are sometimes poor.

Student loan money is meant to give higher education opportunities to students who usually cannot afford it. Student loans often times give people the opportunity to live out something that they may not have seen as achievable, like attending college.

Though student loans are meant to provide higher education opportunities, it is still money given to students that they have to pay back. Therefore, people should not be watching over students’ shoulders telling them how they should use it.  Part of moving into adulthood is being allowed to make choices, if students choose to blow it all on things they do not need, then that is once again their choice.

It is understandable that students should make better choices about money that is being loaned to them for education. They should take the advice given to them about how to use that money, but once that money reaches their account students are free to do whatever they want with the money because in the end they are the ones who have to pay it back.

The key word in student loan is loan meaning that one day students are going to have to answer to Sallie Mae, students know that and until then they are likely going to do whatever they want with it, no restrictions required.