Wanting to go to Pasadena to see Michigan State play Stanford in the Rose Bowl but aren't sure how you're going to pay for it? You're in luck, because now you can apply for a loan from the Michigan State University Federal Credit Union to go to the game.
The credit union advertises rates as low as 6.9 percent on a loan that must be a minimum of $1,000. Plus, you only pay what you owe for as long as you borrow. Seriously. Here's a graphic from the site:
We get that going to a bowl game, especially the Rose Bowl, can be an experience that's too good to pass up. But that's only if you're able to afford it. If you answered yes to the question in the first sentence, then no, no and no. There's no good reason that you would ever need to take out a loan to travel to football game, especially not a bowl, which are pretty corrupt anyways.
The average student debt for a member of the class of 2012 was a whopping $29,400 and that number is only going to keep growing for each class. And according to the graphic at that CNN Money link, 62 percent of graduates in Michigan have debt. Those recent college graduates are the prime demographic for this type of loan.
Take out a loan to buy a house or a car. Don't ever do it to go to a bowl game. Just watch it from your couch or the nearest sports bar.
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- American Football