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6/21/2005
A June 18, 2005 article from The Washington Post discusses the fact that many college students regularly spend approximately $3 per day on gourmet coffee drinks, and use borrowed money to do so. In an attempt to educate students regarding their personal finances, some college administrators try to discourage the daily coffee habit by pointing out how much the drinks will actually cost after interest and a standard ten-year loan repayment period are factored into the equation. They also remind students that every dollar spent on a latte or other coffee drink is a dollar not available for necessities, such as groceries. The article includes a link to a calculator that will project the amount of money that can be saved over several years by making coffee at home, rather than purchasing it from a specialty store.
The article is available at the Web site of The Washington Post.
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