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Rutgers lands in top 50 schools for fastest growth of ‘sugar babies’

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Preceded by the University of Texas, Arizona State and New York University, Rutgers ranked 33rd out of 50 schools for the fastest growth of “sugar babies.”

Angela Bermudo, public relations manager at SeekingArrangement.com, the “world’s largest sugar daddy dating site” and a platform for “’mutually beneficial relationships,’ in which young women shower men with attention in exchange for “the finer things in life,” said the University’s presence on SeekingArrangement.com grew by 80 new sign-ups in 2014 or a 32.13 percent increase.

An interaction arranged through SeekingArrangement.com is not a traditional relationship, she said. Both players in the interaction arrange a relationship or structured relationship that fits into their lifestyles. “The average amount (sugar babies) receive is about $3,000 per month,” Bermudo said. “It could be a monetary amount or it could also be a combination of (paying for) rent, books and credit card fees.”

Bermudo attributed the rapid growth of “sugar babies” to the rising cost of education — since 2006, the number of student “sugar babies” multiplied by 12. Lawmakers continually say it is a priority for them to deal with the enormous student debt we have in the United States, but unfortunately, not enough is being done, she said. “We’re breaking records with how many students are applying to university and college, but unfortunately, as prices increase, students are struggling to find out how they’re going to afford it,” she said.

Original Source: http://www.dailytargum.com/article/2015/05/rutgers-lands-in-top-50-schools-for-fastest-growth-of-sugar-babies

Hundreds of Rutgers ‘Sugar Babies’ turn to ‘Sugar Daddy’ websites to Pay off Student Loan Debt

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Vernal Coleman | NJ Advance Media for NJ.com

By Vernal Coleman | NJ Advance Media for NJ.com

January 29, 2015 at 9:01 AM, updated January 29, 2015 at 3:55 PM

NEW BRUNSWICK – While millionaires are increasingly in short supply in the Garden State, demand for wealthy benefactors among Rutgers University students is on the upswing. Or so says the company behind the dating website designed to bring the two together.

In 2014, the number of Rutgers University students who joined seekingarrangement.com, whose backers tout it as the world’s largest “Sugar Daddy” dating site, rose by 32 percent, according to data released by the website.

Founded in 2006, the online dating website offers cash-strapped college students the chance to enter into what the company’s press kit says are “mutually beneficial” arrangements with more financially secure persons. Students are attracted to the website by the average $3,000 in monthly “allowances” provided by their matches.

A total of 317 Rutgers students have registered profiles with seekingarrangement.com, a spokesperson for the site said. How many of those are active users is unclear. The number represents less than one percent of the university’s total population of enrolled students, which stands at 40,720 for the 2014-2015 school year.

Still, with last year’s growth, Rutgers has shot into the top-50 on the website’s annual ranking of fastest growing “Sugar Baby Schools,” which was released by the website last week.

The rising cost of tuition at Rutgers and universities nationwide, and the lack of congressional action on the issue of student debt, has led to a 42 percent increase in college student signups, according to SeekingArrangement CEO Brandon Wade.

Last July, the Rutgers’ board of governors voted unanimously to hike undergraduate tuition and fees 2.3 percent on the state university’s New Brunswick campus. Students attending the main campus in New Brunswick and Piscataway who live in New Jersey are paying $13,813 in tuition and fees for the 2014-2015 school year.

Calls for comment to the university were not immediately returned.

“While other countries seek to create opportunity and provide a better start for students by abolishing tuition fees or lowering them to reasonable amounts, Congress continues to ignore the problem,” Wade said. “The average debt is more than what most of these new graduates make in a year.”

The sheer amount of loan debt being carried by students may help explain why some students in the Garden State are turning to alternative funding methods to offset the cost of a higher education, says Barbara O’Neill, a Rutgers professor of financial resource management.

“People are anxious,” she says. “It’s like a sword hanging over them. If young adults don’t have the wherewithal to make payments on debt, it’s going to affect all of their decisions moving forward.”

New Jersey ranks in the top-10 in terms of highest amount of loan debt owed by higher education students. Higher education students who graduated from New Jersey institutions in 2013 owe an average of $28,109 in loan repayments, according to a study by the Project on Student Debt.

And many of those students are going into default. Recent studies by the U.S. Department of Education analyze the default rate of students in a three-year student cohort per each fiscal year. Of the 82,185 New Jersey students who had in fiscal year 2011 received a federal student loan, 8,741 defaulted within two years of the start of their repayment period.

That puts the the default rate for students attending four-year colleges in New Jersey at 10.6 percent, according to the most recently released numbers.

The national student loan default rate stands at 13.7 percent.

Vernal Coleman can be reached at vcoleman@njadvancemedia.com. Follow him on Twitter @vernalcoleman. Find NJ.com on Facebook.