Guys, it seems that the OP is talking about buying a boat with money that would otherwise be spent on rent. Now, if he could put the money into a down payment on a house, would anyone object? Probably not.
Yep I think I would. I didn't do a degree and it never did me much harm - I know several people who have degrees and haven't done that well financially. Degrees are not a guarantee for success.
I always considerable student loans to be for funding study and all other costs are covered by living with your folks and earning a buck after hours for your goodies. My daughter waitressed every night to pay for her clothes, car, entertainment, etc. while she was studying and when she had no money she stayed home.
Now I see kids go to university, get a great big student loan (which in NZ is interest free, subsidised by the government) and then buying a sportscar (or a boat) or simply pi$$ing it against a wall, fail dismally in their degree attempts and bail out of college and I, a tax payer, have to support their student loan for the next ten years. Thanks but no thanks.
Student loans should be managed by someone other than the student and school fees, books and anything to do with studying should be paid for from the loan and nothing else.
If you can't afford college, go do a trade - the world needs more tradesmen.