Sunday, September 25, 2022

South Africa: Student Gets $1 Million After Error, Goes On Spending Spree

A South African student received one million dollars after an error on her loans. The student went on a spending spree shortly after the error. Part of the money was spent on clothes, tech products and even parties.

The company in charge of transferring the money to the students was supposed to send nearly $150 dollars to the student but they instead transferred one million dollars. Officials said on Wednesday that the $145 that were supposed to be sent to the student are a monthly food allowance.

The student went on a spending spree after the error made by the transfer company. According to officials, the error was made back in June when students were receiving their transfers. The spokeswoman for the university said the error was discovered on Monday. Nearly three months had passed since the error and the spokeswoman said they discovered it after it was reported by another student. The spokeswoman did not reveal the name of the student but did say she had spent $83,000.

The student had the money for nearly three months and the spokeswoman has said she is responsible for the amount she spent after the error. The good news for her is that she did not spend all of it because she would have a big loan to pay back. The university is currently investigating how the error happened and has taken back the hundreds of thousands of dollars she received by error.

The student is one of thousands in the country who receive loans. The students that receive a loan are usually sent money every month but the error gave her a lot more. The spokeswoman did not reveal what the student bought with the money but local media reported that she bought a number of things, including smartphones and expensive clothes. Reports also say the student used the money to party.

Sean Farlow
University graduate with a bachelor's degree in business administration. Big fan of sports teams from South FL.
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