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05-Mar-2020 07:43

Besides moving back home, many 20-somethings are beginning their adult lives shouldering substantial amounts of student loan debt.

According to Mark Kantrowitz, who publishes the financial aid websites and Finaid.org, while the average 2011 graduate finished school with about ,200 in debt, many are straining to pay off significantly greater loans. This particular dynamic preceded the economic meltdown, of course.

"I just wanted to get out of that situation as safely as possible, pay off my debt, and move on." While she and her host hadn't agreed to a set amount of money, on the drive back to the train station in Greenwich he handed her 0 in cash. I just did what needed to be done." And she's still doing what needs to be done.

She pocketed the envelope, seeing it as decent money for half a day's work. I mean, I had just gotten money for having sex," says Taylor, who never heard from the guy in Greenwich again. With tuition due in September to pay for her last semester of college, Taylor's back on the hunt for other, more lucrative online hookups. "It's a very expensive job," says Jack, a 70-year-old sugar daddy, who describes himself as a "humanitarian" interested in helping young women in financial need.

"Over the past few years, the number of college students using our site has exploded," says Brandon Wade, the 41-year-old founder of Seeking Arrangement.

Of the site's approximately 800,000 members, Wade estimates that 35 percent are students.

"I only go out with girls 25 and under," says Jack, whose thick head of white hair and bushy eyebrows form a halo around a red, flushed face.

"But I can't walk into a bar and go up to a 25-year-old. So, this is how I go about meeting them." As he continues, he repeatedly glances over his shoulder to make sure no one is listening.

Meanwhile, according to Jeffrey Jensen Arnett, a professor of psychology at Clark University, about 85 percent of the class of 2011 will likely move back in with their parents during some period of their post-college years, compared with 40 percent a decade ago.

But after taking a big hit in the financial crisis and being forced to downsize, Jack says he had to part ways with his private jet due to what he describes as "reduced circumstances." On the site, he lists his annual income as

Meanwhile, according to Jeffrey Jensen Arnett, a professor of psychology at Clark University, about 85 percent of the class of 2011 will likely move back in with their parents during some period of their post-college years, compared with 40 percent a decade ago.

But after taking a big hit in the financial crisis and being forced to downsize, Jack says he had to part ways with his private jet due to what he describes as "reduced circumstances." On the site, he lists his annual income as $1 million and his net worth as something between $50 and $100 million.

While sugar babies can create profiles on Seeking Arrangement free of charge and a regular sugar daddy membership costs $50 each month, Jack pays $2,400 a year to belong to the Diamond Club.

NEW YORK -- On a Sunday morning in late May, Taylor left her Harlem apartment and boarded a train for Greenwich, Conn.

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Meanwhile, according to Jeffrey Jensen Arnett, a professor of psychology at Clark University, about 85 percent of the class of 2011 will likely move back in with their parents during some period of their post-college years, compared with 40 percent a decade ago.But after taking a big hit in the financial crisis and being forced to downsize, Jack says he had to part ways with his private jet due to what he describes as "reduced circumstances." On the site, he lists his annual income as $1 million and his net worth as something between $50 and $100 million.While sugar babies can create profiles on Seeking Arrangement free of charge and a regular sugar daddy membership costs $50 each month, Jack pays $2,400 a year to belong to the Diamond Club.NEW YORK -- On a Sunday morning in late May, Taylor left her Harlem apartment and boarded a train for Greenwich, Conn.

million and his net worth as something between and 0 million.

While sugar babies can create profiles on Seeking Arrangement free of charge and a regular sugar daddy membership costs each month, Jack pays ,400 a year to belong to the Diamond Club.

NEW YORK -- On a Sunday morning in late May, Taylor left her Harlem apartment and boarded a train for Greenwich, Conn.

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She planned on spending the day with a man she had met online, but not in person.

But unlike other dating sites, where a user might also list preferred hobbies or desired traits, Taylor instead indicates preferences for a "sugar daddy" and an "arrangement" in the range of

She planned on spending the day with a man she had met online, but not in person.

But unlike other dating sites, where a user might also list preferred hobbies or desired traits, Taylor instead indicates preferences for a "sugar daddy" and an "arrangement" in the range of $1,000 to $3,000 a month.

||

She planned on spending the day with a man she had met online, but not in person.But unlike other dating sites, where a user might also list preferred hobbies or desired traits, Taylor instead indicates preferences for a "sugar daddy" and an "arrangement" in the range of $1,000 to $3,000 a month.

,000 to ,000 a month.