A 21-year-old college student said she receives a $1,500 monthly allowance from her “sugar daddy” to cover her school tuition. She met the 37-year old sugar daddy on SeekingArrangment.com, an online website that helps rich men connect with young women who are looking for financial support in exchange for their company.
According to the site, about 40 percent of the members are college students making an average income of $4,200 a month. Two -thirds of the members admitted that they use the site as a secondary or third means of income.
Parents are also finding creative ways to cover their child’s college costs.
When Dave McDougall was $4,000 short of his son’s tuition he decided to pawn 15 pennies from his $40,000 coin collection to meet the need.
Carol Carlisle and her husband chose to serve as host parents for international students coming to America to learn English as a second language. Host families earn about $32 a night and the Carlisles are hoping to pay back the home equity loan they used to pay off their daughter’s college tuition.
“When our daughter graduated high school in 2005, we thought we would use our home equity to pay for college and would pay it back, but then 2008 came around and my husband is a builder and everything collapsed for him,” Carlisle said. “Besides being a joy [to host ESL students], we get this check every month, and we can finally make payments on that home equity.”
So far, the Carlisles have made $2,700 as a host family.
In an extreme measure to prepare for college expenses, Wayne Perry created a YouTube video featuring his newborn son holding the forceps used to cut his own umbilical cord. Perry’s video quickly went viral and attracted over a million viewers. He receives nearly $1,000 a month from Google AdSense, a service that places ads on online videos and pays the publisher each time the ad is clicked or viewed. So far, he’s made $8,000 and has placed it in a college fund for his son who is now two-years-old.
“We’re middle class, where we make too much to get a lot of [college] grants and low-cost loans but don’t make enough to foot the bill for a really great school—and imagine when he’s 18 what the cost of tuition will be,” Perry said. “I could never have saved that kind of money for him without this—never.”