"Over the past few years, the number of college students using our site has exploded," says Brandon Wade, the 41-year-old founder of Seeking Arrangement.

Of the site's approximately 800,000 members, Wade estimates that 35 percent are students.

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"Most of these young women have debt from school," says Jack, who finds most young women also carry an average of $8,000 in credit-card debt.

"I guess I like the college girls more because I think of their student debt as good debt. Wade, who started Seeking Arrangement back in 2006, can easily identify with the Jacks of the world.

But after taking a big hit in the financial crisis and being forced to downsize, Jack says he had to part ways with his private jet due to what he describes as "reduced circumstances." On the site, he lists his annual income as $1 million and his net worth as something between $50 and $100 million.

While sugar babies can create profiles on Seeking Arrangement free of charge and a regular sugar daddy membership costs $50 each month, Jack pays $2,400 a year to belong to the Diamond Club.

Rich guys well past their prime have been plunking down money for thousands of years in search of a tryst or something more with women half their age -- and women, willingly or not, have made themselves available.

With the whole process going digital, women passing through a system of higher education that fosters indebtedness are using the anonymity of the web to sell their wares and pay down their college loans.He said he lives next door in a penthouse apartment overlooking Central Park South and pays ,000 a month in rent.In his profile on Seeking Arrangement, Jack describes himself as a 67-year-old with a bachelor's degree. C., native says he founded four financial services companies.He changed into his swimming trunks, she put on a skimpy bathing suit, and then, by the side of his pool, she rubbed sunscreen into the folds of his sagging back -- bracing herself to endure an afternoon of sex with someone she suspected was actually about 30 years her senior.Taylor doubted that her client could relate to someone who had grown up black and poor in the South Bronx. A month prior, faced with about ,000 in unpaid tuition and overdue bills, Taylor and her roommate typed "tuition," "debt," and "money for school" into Google. Intrigued by the promise of what the site billed as a "college tuition sugar daddy," Taylor created a "sugar baby" profile and eventually connected with the man from Greenwich."I just wanted to get out of that situation as safely as possible, pay off my debt, and move on." While she and her host hadn't agreed to a set amount of money, on the drive back to the train station in Greenwich he handed her 0 in cash. I just did what needed to be done." And she's still doing what needs to be done.