University of Minnesota students exploit an exploitative financial relationship in an attempt to earn more, according to a report from Next Big Finance.
The students who went on a “exploitive relationship” with the school were allegedly motivated by a need to earn money, the report found.
They used a fake company account and “paid the student in bitcoin,” which they used to buy clothing and accessories, the study found.
“The students were able to leverage their academic connections, the school’s financial aid package, and their time on campus to exploit the students,” Next Big News found.
Students “were able to exploit their academic ties, the college’s financial support package, or their time off campus to utilize the students to secure funding for their purchases,” the report added.
The investigation found students were given money for doing “student work” at the school, which “was typically a ‘work-from-home’ arrangement,” the Next Big Financial report found, adding that the students “used the funds to pay for goods or services, including tuition, books, and food.”
The report said the students who were targeted were also allegedly “somewhat financially dependent on their peers.”
Next Big finance reported on Thursday that the university had stopped funding the students, which means that they will no longer be able to access funds for the semester.
The student who was “paid in bitcoin” was a graduate student, which is a financial relationship that’s usually a work-from a residence hall or a full-time job, the university said.
The university said that students would be able “to withdraw from their student loan repayment and use any funds that remain to repay their debt at a later date.”