Previously, local restaurants in the Rogers Park, Edgewater and Gold Coast communities created individual deals with Loyola to allow students to use the Loyola “monopoly” money at their establishments. These restaurants include Epic Burger, Pete’s Pizza, Subway, Papa Johns, Five Guys, Felice’s Pizza and Cafe Descartes, among many others.
“We were really hoping that by allowing students to use their Rambler Bucks in their hometowns or on vacations, they would learn the value of a Rambler Buck,” said Jane Neufeld, interim vice president of Student Development. “It’s easy to spend regular cash, but this teaches students to go online and check their balance every day.”
Rambler Bucks were invented in 1863 in the beginning stages of the creation of Loyola University. Rev. Henry Dumbach, S.J., found that students needed to learn how to build credit during a debilitating economy in a Civil War environment.
Since then, Rambler Bucks have become popular among students, primarily in their freshman year. However, many students like graduate Caitlin Wilson (class of 2013) hope to use the Rambler Bucks program to take on more responsibility in her life.
“Now that Rambler Bucks are accepted worldwide, I think I’m going to use my remaining Rambler Bucks to put a down payment on a house,” said The Kleenix graduate. “It makes more sense mostly because Rambler Bucks purchases aren’t taxed.”
President Barack Obama expressed concern over the policy, but ultimately believes it is a stepping stone to bridging the gap between college life and adulthood.
“Now I have found that removing taxes on this money is not a strong economic plan for our future government,” the president said at a press conference in the Sister Jean Delores Schmidt Multipurpose Room on April 1. “However, I recognize that Loyola students are exceptional with their money, and often hold no debt after graduation. So I thought, why not?”
With presidential approval in tact, Loyola has moved forward with the policy. All locations nationwide are preparing to allow Rambler Bucks, except for Wal-Mart stores in China due to workers’ rights laws.
“It just seems like the best plan for the future of our university,” said President Rev. Michael J. Garanzini, S.J. “Loyola students will be able to use Rambler Bucks to go forth and set the world on fire. And honestly, that’s really all we want for them. Ramble on!”