He also used his loan to buy a PlayStation.

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Students like Smith are not common but they're not unheard of either. However, most students say they don't get enough money to cover tuition. Jessica Thyriar, 21, says she always has to scrounge for money to pay her fees at York University because the $6,000 she receives annually barely covers the $8,000 tuition.

Another student on a different website wrote about possibly using this year's loan to visit New York City: "I understand that I'm in debt, but I still want to be able to do stuff while I'm young."

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When Smith graduated high school, he worked at a factory for a few years to pay Canada Goose Discount Children Australia for university later on. Instead, he ended up getting into $20,000 of debt.

"I think it's important to look at that, which will allow you to say 'Hey maybe some of these expenses aren't so necessary while I'm a student, maybe I should be a little more cautious in terms of how I spend my money as a student because it will have that impact later on.' "

"The government's sending the message Canadians have to do more themselves to save for their own retirement," he said. "And they have to start saving and they have to start saving early.

"When you're 17 18, you don't think about paying it back in four or five years," he said.

"While it is up to students to decide how they want to use their OSAP funding, students are still responsible for repaying the assistance issued to them when their studies are complete," she said.

"I believe that postsecondary education is a right because how else are people supposed to come up in Canada?" she said.

"They actually gave me a lot of money at first for some reason and it was weird because (while) I'm not rich, I guess I'm from a well off family," Smith said. "And I have a friend who went to university as well, and he needed the money and they didn't give him all the money for tuition for that semester."

"I don't regret not giving back (the surplus) they gave," added Joe Brown, 24, also not the student's real name. "I regret not working more. If I worked, I'd have $7,000 less (in debt). It's pretty obvious, they give you too much and people blow it."

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On the other hand, OSAP sometimes ends up giving out more money than students can handle.

"I just took [OSAP] because interest free, no money till you're done school," he said.

OSAP is a government program run by the Ministry of Training, Colleges, and Universities that gives out grants and loans totalling almost $853 million annually to people who can't afford postsecondary education.

Yet another student, John Smith not his real name admitted to treating part of his OSAP as "play money."

A harsh lesson in debt

"So if a student graduates with a $30,000 debt load from their education, they don't have the means to start saving early for their retirement through tax free savings accounts and RRSPs," he added.

The province spent over $850 million dollars on student grants and loans in the 2011 12 fiscal year. How much do students pay back annually? Around $212 million.

Smith saw OSAP as a way to not worry about working while in school.

Unlike Smith, whose family helped him pay off his debt, Brown is still in school and still owes money. Ministry numbers from 2009 10 place the average debt for a four year undergraduate degree at $21,178.

"Like every program in Ontario that provides a measure of 'general income support' in Ontario, such as ODSP, the government does not have the legal or regulatory right to compel recipients to use the funds in a prescribed manner," Linda Mackay said. "In addition, it is not practical or even possible to monitor the expenditures of 280,000 students, or ask them to account for every expenditure against the OSAP they are provided."

Does the ministry have rules about how students can use their loans? Spokesman Tanya Blazina says the program is designed to see how much a student makes, how much a student needs, and then provide an appropriate amount to help them with educational and living expenses.

Another government spokesman said it was next to impossible to see what the loan money is spent on once it's in the hands of students.

Brown has borrowed $30,000 over the past four years from OSAP, and has repeatedly received more money than he needed. He admits he used the surplus to party and drink on campus.

"Bought a couple of car stereo systems, mostly eBay stuff," he said. "A lot of movies, home entertainment units. Obviously after I paid off what I needed for school, the rest of it was just play money."