During March 16th through till March 20th of this year, The Student Loan Report teamed with Pollfish to survey 1,000 current university students with related loan debt, asking one question: Have you ever used student loan money to invest in cryptocurrencies like Bitcoin? The results surprised even the pollster.

Also read: Bitcoiners Demand More Crypto CFDs and Spread-Betting in the UK

University Students Buy Crypto with Financial Aid

Founder of the Student Loan Report, Drew Cloud, explained, "Younger Americans are certainly the most enthusiastic about cryptocurrency; they are the most active investors and want to get involved in the space in any way possible. However, I truly thought the percentage would be lower. As a college student, your budget is thin and that extra money could be used on rent, groceries, or books," he told the Boston Globe.

The survey "found that 21.2 percent of current college students with student loan debt have used financial aid money to fund a cryptocurrency investment," the study found. Over four days students with debt were asked one question about buying cryptocurrency with loan money, and over one-fifth responded in the affirmative.