Based on my experience, the skill of persistently studying for your GMAT evening after evening highly correlates with the skill of persistently saving a fraction of your income month after month. Delayed gratification and everything.

So a more realistic scenario is that first she won't study in a library because she doesn't have a chair. Then, having a loan on the chair she won't study because the old phone is too slow. Then, having a loan on both chair and the new iPhone, she won't study it because it's just too hard and going to the pub with the friends is more fun. So she will end up with another loan for a liberal arts degree, and will then wonder how to pay it off from a Starbucks salary.

Sorry, like it or not, people appreciate hard-earned things more than something that comes seemingly for free. The best example is that 70% of lottery winners go bankrupt within the next few years [0].

[0] https://www.washingtonpost.com/outlook/five-myths/five-myths...