Uni dropout invested student loan in stock market, makes £30k a month!

Elijah Oyefeso, 21, taught himself Stock Market trading, ditched his degree, and now rakes in enough to pursue his passion for supercars.Elijah OyefesoCredit: Channel 4

We’re always saying you should put your Student Loan to good use, but self-styled ‘Rich Kid’ Elijah Oyefeso takes student money making to a whole new level. He reckons he brings in around £30,000 – in a ‘bad’ month – for just one hour’s work a day.

Oyefeso says he used cash from his Student Loan to get started in Stock Market trading and dropped out of his Business Management course at the University of Buckingham after just four months.

Now, instead of poring over books, he makes money on ‘binary options’ – arguably one of the riskier ways to trade on the Stock Market – where you gamble on whether stocks will go up or down. It works for Oyefeso, who was filmed on Channel 4’s Rich Kids Go Shopping making a grand in just 15 minutes.

Elijah Oyefeso's supercar

Credit: Elijah Oyefeso – Instagram @elijah_oezz

Originally from Camberwell in London, Oyefeso made headlines for his now lavish lifestyle, including a £5,000 per month luxury flat in uber-expensive Kensington, and a string of supercars (two of which he pranged together, as you do). It’s no secret that the price of success has also meant losing friends he grew up with, and that he’s had his share of haters.

ElijahOyefesoTwitter

Credit: Elijah Oyefeso – Twitter @itsoezz

While he’s upfront about enjoying the big money he makes, Oyefeso also claims to keep it real (well, some of the time – this is the guy who bought a Lamborghini and sprayed it gold), shopping for homeless folk and buying his mum a massive house.

Dabbling in the stock market is becoming an increasingly popular way for students to boost their bank balance, partly because it’s becoming more accessible through online trading platforms. eToro is one such platform, for which George Thompson (now graduated) has written a walk-through after making several thousand for himself.

However do not be under any illusions, investing carries risk and it is not for everyone. There’s hundreds of other savvy ways to make money right here.

Would you risk your Loan to make money? Or should Student Finance just be for getting through uni, not for getting rich? Let us know below!