Just because it is cheap, doesn’t mean it is viable. Bali is one of the destinations that can be very affordable, but if you are traveling on a weeklong spring break, depending on which part of the world you are traveling from, it could be far. Calculate for a night in awesome Singapore – which is a must – and a bit of jet lag/hangover – and you could have already lost a few precious days of beach and cocktail time.
Also just because it is cheap doesn’t mean the airfares will be. Don’t jump at the first place you see because it’s just so inexpensive and book it, only to find out that you need to take out a couple of loans just to afford the airfare to get there. Traveling gets a bit tricky like that.