Just in case current and former students didn't have enough debt to deal with after their college days are over, a zealous Michigan State Spartans fan might be tacking some more money onto his or her loan balance soon. The Michigan State University Federal Credit Union is offering Spartans fans a chance to borrow money to be able to make it to the school's first trip to the Rose Bowl since 1988.
The credit union's website states that the minimum loan amount is $1,000 and it could be financed over an 18-month period. The funds can be borrowed at an annual percentage rate as low as 6.9 percent, but the rate is ultimately dependent on the applicant's credit score.
If a person secured the lowest APR of 6.9 percent, it would cost a fan who borrowed $2,000 an additional $111 spread out over a year and a half to borrow that money.
A package that includes a ticket, charter airfare from Lansing, Mich. to Los Angeles, four nights at a hotel and transportation to and from the Rose Bowl costs $8,090 for 2 people through hospitality company PrimeSport.
Those who want to price the trip out a la carte will pay at least $1,000 for non-stop round trip airfare from Michigan to California.
Student tickets to the game sold through the school cost $150 plus a $25 processing fee.
The Michigan State Federal Credit Union is, like all credit unions, a non-profit organization. It was started by Michigan State professors in 1937 and is owned and operated by members of the Michigan State and nearby Oakland University community.
The Rose Bowl Game Presented by VIZIO is Jan. 1.
Poster Comment:
Hilarious. As if these goofy kids aren't accruing enough debt, they now get to borrow money to travel to a bowl game.
I have a better idea. If they can't afford it, don't go.