130°

Students Increasingly Purchasing Video Games with Loan Money

Student loans are a necessarily evil for many students, allowing them to pay for school tuition, books, fees, and housing expensive. Unfortunately, in a culture that has become increasingly accepting of mounting loan debts, many students are using loan funds to purchase personal items.

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thebitbag.com
Carl_Shocker4617d ago (Edited 4617d ago )

Yup...so true

I mean if your living at home with Student Home who honestly keeps all their finance for books and other Uni stuff. They know what we spend it on...

Games, Clothes, DVDs, Going out to town to get mortal and other stuff you want...thats mostly what Student Finance is spent on.

Saying that though if you don't get a job which pays so much before your 30 then you don't need to pay anything back.

Plus lets not forget the Student £600 - £1200 Bursery you don't need to pay back whats so ever

Do we complain when we've spent everything and we have nothing left...course we do but it's just what happens

Anyway I'm not that bad myself, I set up an ISA account to put a bit of money in so at least I'll have some money from my loan I can put on a deposist for a house in the future.

USEYOURFIST4616d ago

Don't know what you got disagrees for, my uni has a huge library so I get my books there and my loan goes on living ie games n drink n going out and rent etc. And my uni bursary for December is buying a WiiU.

Carl_Shocker4616d ago

because it's cool to disagree thats why...

I mean it's what people do with their student finance, they spend it on stuff they want not what they have to.

iamnsuperman4616d ago (Edited 4616d ago )

Exactly and I found google books to be a very useful (free) source when it came to essays. My loan was split up into rent and spending it on games and going out. I really miss that disposable income especially considering I have now come out of university with a degree but with no employable skills for temporary work.

rainslacker4616d ago

They do something similar here in the US. Depending on the loan you have a set amount of time to find a job before you have to pay it back. If you can't find a job in that time you can apply for a forbearance. However you can't do this forever, and eventually you will have to pay it back.

I did know people on student aid though that didn't work and seemed to have a lot more than I did, being on financial aid to get just what I needed to pay for school. I still worked full time, and taking 20+ credit hours a week. What sucks is my degree isn't really worth much to employers so I'm back to doing what I was before I went back to school.

DialgaMarine4617d ago

Let me guess. This is going to prompt a action by Student Financial Aid companies, as well as several other groups, to boycott and ban video games because a select few students are simply too irresponsible to use the money for what it was initially given to them for.

guitarded774616d ago (Edited 4616d ago )

It's not a matter of irresponsibility. Student loans are to pay tuition, supplies, living expenses and supplementary expenses. If a student eats Ramen and uses the left over money on a console, so be it. If a student rents books instead of buying, and uses the left over to buy a console, so be it. They have to pay back the money... once loaned, it's their money, so as long as the bills get paid, it's not for you to say what is responsible. I don't tell you how to spend your money.

DialgaMarine4616d ago (Edited 4616d ago )

Here's a thought. If a student has already covered all of their education expenses and still has some money left over, why not be smart with it and save it to pay back the loan when the time comes. It's really NOT their money if they HAVE to pay it back, eventually. Some people tend to forgot one sad fact: There's no such thing as free money. You either have to work for it, or you have to pay it back in one way shape or form. There may be 1 or 2 acceptions to that rule, but any forms of loan are not one of them. It's the simple truth. Hence why we have so many college graduates who have no choice but to move back home with their folks, because they have student loan debts up the wazoo, and the job they did land simply couldn't suffice to both support themselves and pay back said debt. A lot of them will probably be having to pay that sh*t off into their 30s, 40s and possibly 50s.

Just look what happened to this country in 2007 after years and years of people taking out loans and believing it was THEIR money. I rest my case.

guitarded774616d ago

You clearly see it your way, and I see it mine. A loan is a promissory. Once the loan has gone through, the money belongs to the borrower... it is their money. As long as they meet the terms of the agreement, it is still their money. I see nothing wrong with a student using part of the loan money to buy something which will enhance their quality of life. A college student with a 4.0 works their ass off studying day and night, to earn that 4.0... they should be allowed to also have personal quality time for self gratification, and if a gaming system provides that, so be it. The loan is not just for school and books... it's for living expenses too. Some choose to spend part of it on decorations for their dorm... is that any different? When they get into the working world, they will pay it back with interest, and will also pay more in taxes because they have skills that land them in a higher paying job (potentially), so them spending $200 out of a many thousands of dollar loan on something to make their life better, is okay with me. But like I said, it doesn't matter what I think because it's their money.

samtheseed4617d ago

I seen a student pay for 1 drink on her credit card in the pub the other day. Her first card got rejected. She then sent a text message on her iPhone.

Amazing.

Fez4616d ago

That text was to mummy and daddy...

coolasj4616d ago

How can you assume having an iPhone means your wealthy or that you bought it yourself.

Kenshin_BATT0USAI4617d ago

Man...my parents are rich, but naturally they don't wanna help me out at all. So what I end up getting is batshit poor loans from student services. Worse yet, i gotta pay rent(my parents force me to), cover all of my own expenses, and pay for the majority of my tuition and books out of my own pockets too.

I wish I has spare cash for gaming and such ._.

knifefight4617d ago

I had to do the same thing when I was in college yo.

It totally sucks right now, but the financial responsibility that you'll master yourself with will be worth it. Trust me, as a 19-25 year old I was torqued about it, but you come out with better discipline than a lot of other people.

DwightOwen4616d ago

knifefight is right. You'll be much better off in the long run because you'll better appreciate the value of money, unlike most of your peers.

Kenshin_BATT0USAI4616d ago

Mhmm yeah I agree with both of you. It's teaching me some pretty valuable financial skills.
It's just a bit of a pain having a job, going to university, and doing freelance work. If I slack off a bit, I'm screwed xD haha

fermcr4617d ago

"Students Increasingly Purchasing Video Games with Loan Money"

Not surprising. Console games are way to expensive (60-70€). Even new PC games on steam are 50€. Then there's the overpriced DLC's. That's too much money for a game. Thank God for Steam sales.

Gaming developers/publishers should think about revising the PC/Console games prices.

samtheseed4617d ago

It would be nice, but development cost are going up,and more studios closing down, but people are still demanding more and more graphics driving developments costs up more and more.

Indie games are getting better and better so just stick to them.

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150°

GTA5 Has Sold Over 215 Million Copies, Red Dead Redemption 2 Has Sold Over 74 Million Units

Take-Two announced its financial results for the fiscal year 2025, also sharing an update on the sales of GTA5 and Red Dead Redemption 2.
The anticipation for GTA6 has reached fever pitch, with the latest trailer being the biggest video launch of all time.

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simulationdaily.com
LostPotato2d ago (Edited 2d ago )

Milk...get your milk...and so much more. Really when you release the same games in three editions over 15 years it's amazing how much money, and the amount of sales you earn. It's amazing how no one can compete.

Mr_cheese2d ago

To be fair, no many companies could release the same game over and over. They've earned that whether we agree or not

DarXyde2d ago

I mean Resident Evil 4 has had longer legs and still hasn't done anything like this.

Profchaos2d ago (Edited 2d ago )

GTA v isn't the only game that's released three consoles generations running but nothing has sold those numbers including GTA San Andreas which is now 4 console generations deep.

anast2d ago

Looks like a 2040 release for GTA6

gold_drake2d ago

thats insane right?
absolutely insane

rlow11d 16h ago

No surprising considering that it’s been on every major platform and store.

I decided to look up the longest and most sold games list. To my surprise Tetris has takes the top spot.

80°

Pure Arts Reveals Borderlands Collectible

Pure Arts Reveals Borderlands Collectible that fans should l8ve.

190°

Nintendo Switch 2 To Sell 100M+ Units by 2029, Is The Most Important Console Launch Ever, Says DFC

DFC Intelligence has big expectations for the Nintendo Switch 2. They estimate over 100 million units sold by the end of 2029.

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wccftech.com
_SilverHawk_3d ago (Edited 3d ago )

dont think itll happen because of COQ. it costs as much as gaming consoles that are way better in a lot of ways and nintendo normally thrives on selling cheaper hardware than the competition. i believe that because the switch 2 and the games are so expensive and are far inferior to better versions available for the same price or cheaper on better gaming consoles that gamers would rather get a better value for their money and buy something better than the switch 2. the switch 2 can do a lot better if it isnt expensive and the games are cheaper.

Muigi3d ago

Yeah but I can’t play my PS5 Pro on a plane or the subway.

Neonridr3d ago

don't worry, they'll tell you to buy a $300 accessory on top of the console so you can "stream" it to play it. (subject to network capabilities of course)

MrNinosan3d ago

@Neonridr
The Playstation Portal is amazing, but if you don't want to spend the 300$, just use your phone or tablet that you probably own already

jznrpg3d ago

@MrNinosan it’s 199$ for Portal

MrNinosan3d ago

@jznrpg
Might be, I just answered to his bullshit comment.
As I live in Sweden, I paid way more for my Portal, around 350$ at release, but still use it daily at work and in my bed, so well invested 👍

b00mFargl32d ago

However, the Switch 1.5's capabilities do not compare to those of the PS5 Pro; in fact, the Series S is more powerful.

The PlayStation does offer an accessory that provides a similar function, but many other handheld devices offer superior capabilities. Essentially, you are purchasing a device primarily for playing Mario games, with some niche features that Nintendo cleverly markets to its loyal customer base.

Jingsing2d ago

Also remember Switch 2 is now bigger than Switch. People don't like to carry as much stuff these days.

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Neonridr3d ago

*costs as much currently.

We've already seen MS have to adjust the price of their consoles, and it's possible Sony could follow suit.

And your definition of "far inferior" is subjective to the end-user. Can I take my PS5 Pro version of the game with me on the go? No.

Dhika3d ago (Edited 3d ago )

Hahaha. We'll see. I'm not keen on seeing you moving goal posts as usual lol.

princejb1342d ago

Inferior according to who? You may not like Nintendo because they don’t have the most updated graphics but they do well when it comes to fun games. What’s the point of a game that looks beautiful but is boring to play. There’s a reason why they keep selling millions every generation.

thesoftware7302d ago (Edited 2d ago )

Silver, I disagree.

Nintendo sells consoles primarily off of their exclusive content that you can't get anywhere else ever. I will add that that content is regarded by many as some of the best in gaming, if not the best, along with a super loyal fanbase, nostalgia, and the most popular IPs ever created. The system will run exclusive 3rd party games as well as playable ports of current and future games for the next 4-5 years, the majority of casual gamers don't care about tech specs or FPS, and even some hardcore fans don't care that much, and will choose a very playable portable port for the versatility of playing on the T.V or on the go...

I think the price will have a small impact, but 100M in 4 years is totally doable. Where else can you play the next Zelda, Mario Kart, Metroid, and Pokemon games? It will sell.

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darthv723d ago

Pretty ambitious... it could be done so long as they lower the price of the games and the system to something more reasonable.

jznrpg3d ago

Least exciting Nintendo launch for me.

MrNinosan3d ago

First console I won't buy at release since the original NES.

repsahj3d ago

Not me. I am excited as when I first bought my Mario Odyssey bundle Switch 1.

MrNinosan3d ago

Because of Mario Kart?
Or what is it that excites you?

repsahj3d ago

Because of everything Switch 2, I am very impressed with what I am seeing so far. And because 3 of my friends who I play Helldivers 2 with will also get it. We will all be getting the Mario Kart World bundle.

Elda3d ago

For me...I beg to differ it's an important launch knowing it's not launching with any interesting exclusives except the $80 Mario Kart & I'm not into racers. Until I see some interesting Switch 2 exclusives that I think are a must play I can wait as long as possible before obtaining a Switch 2.

Neonridr3d ago

While I'm getting MK at launch, I'm actually most interested in Donkey Kong. I love the destructible environments.

NotoriousWhiz3d ago

I'm most interested in trying out cyberpunk with mouse controls. If they work really well, Switch 2 may be my console of choice for shooters.

MrNinosan3d ago

Couldn't you try that on PC for the last 5+ years?

NotoriousWhiz2d ago

^ I don't game at a desk and am not interested in using one of those lap desk things. My only "gaming computer" is a steam deck.

neutralgamer19923d ago

I’ve seen a lot of people projecting that the Switch 2 will sell over 100 million units by 2029. While I understand the optimism—especially considering the original Switch’s success—I think those numbers might be overlooking the current state of the market and how much it’s shifted.

First off, we need to stop using early sellouts or pre-order hype as a reliable indicator of long-term success. Every major console that’s launched in the last 25 years has sold out during its pre-order window. Even consoles that were ultimately considered commercial disappointments—like the Wii U—sold out at launch. The PS3, which launched at a hefty $600 back in 2007, still had people lining up. That early rush is almost always driven by the core gaming audience, not the mass market. The real test comes after that honeymoon phase, when sales depend on casual gamers and broader adoption.

And that’s where things get trickier now.

The gaming landscape has changed dramatically. Mobile gaming has completely taken over in terms of both revenue and number of players. It’s bigger than console and PC gaming combined, and it's still growing. That makes sense when you think about it: everyone already has a phone, and many have tablets too. Pair that with a Bluetooth controller and you’ve got a portable, high-quality gaming experience with almost no extra cost.

Consoles and gaming PCs, on the other hand, require a substantial investment just to get started. When money is tighter for a lot of households and the average consumer is more price-conscious, it becomes harder to justify spending $400–600+ on a single-use gaming device—especially when they already own something that plays games well enough.

I’m not saying the Switch 2 won’t be successful. Nintendo has a strong brand and a loyal fanbase. But I do think people are underestimating how much harder it is today to move that kind of hardware volume. The market’s more competitive, more fragmented, and more mobile than ever before

Neonridr3d ago

I fully expect the Switch 2 to sell 100M units. But to say it'll do it within 4 years is a big ask.

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