Biden's student loan forgiveness plan is a 'horrible idea,' says Kevin O’Leary
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- เผยแพร่เมื่อ 31 พ.ค. 2022
- Venture capitalist Kevin O’Leary and Operation Hope CEO John Hope Bryant joins CNBC's 'Squawk Box' to debate the Biden administration's student loan forgiveness plan. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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Hold Colleges and Universities accountable. GET RID OF THE STUDENT LOAN PROGRAM!!!! LET THESE COLLEGES AND UNIVERSITIES COMPETE!!!! As a society, we tend to forget that these are businesses that focus on education.
@Frog Universe
No that's bad economics. You think inflation is bad, wait until student loans are completely forgiven. In addition, it sets a dangerous precedent of not honoring contractual obligations. That's dangerous because if people can be bailed out from this, then it will spread to other things as well. Lastly, why should a tax payer who didn't take out the loan, or paid for their children's education be forced to pay for others?
@@Mikebuddy2229 On the contrary, removing the student loan program and not forgiving debt like OP said will force colleges to lower their tuition costs so that the average American family will be able to afford it. It’s able to be done in most other first world countries, so we should be able to do it too.
@@zacharymladinich3410
Well said. I completely agree with you.
@@zacharymladinich3410 except this is not what Biden is doing.
Hit the bottomline: 87% of Americans who did NOT have student loan DEBT - now DO to the tune of $2K (except for politicians and government workers… we pickup the tab on ALL their taxes… too!)
I'm a Vietnam Vet and I went to law school on the GI Bill. The real problem is how expensive college has become. I paid for law school and made a profit just on GI Bill $$. Most colleges take underpaid lecturers or grad student, put them in front of a hundred students and thus the course is taught. What universities need to do is cut their administration to the bare bones, and leave the faculty to run the university.
Faculty the university. 👎
They are the ones creating classes that are useless & majors that student can't never use
Absolutely correct. Too many paper-pushers.
What about the ones who are unable to have an opportunity to get a GI bill.
The GI bill is a return on a service essentially. Its not really the same thing. This is getting money for free without accounting for people who already paid of their student loans or those who didn't attend college or university because they couldn't afford it. If education was free far more people would attend. Why does the worst of the worst generation get the perk others were denied?
Well also why would they. Raise tuition and Gov will pay. As soon as the debt's are forgiven, tuition will go up. Because they can.
Hardly anybody has actually qualified for forgiveness. Either they are on the wrong loan, wrong payment plan, wrong qualified employment, missed payments, etc... Problem is most people were given incorrect information by the government
Lies
I would issue student loan forgiveness as President of the United States, but only because I have a plan to fund the program and cover the expenses.
From two hard-working middle-class parents who put our two children through college by saving and scrimping, and who also required that they work while attending college, my husband and I respectfully ask the US government for a reimbursement of $10,000 per child to defray some of the costs that were incurred at that time.🤞🤞🤞
I'm right there with you! This policy is maddening. So unfair. UnAmerican!
Totally agree! For myself! How about reimbursement?
Good luck my friend!
@@JIMMYJAMES156821 I can only dream….and dream…and dream some more😮💨
Kudos good job but no. That’s silly
Make student loans like all other loans. BANKRUPTABLE! And make them go through the same rigors that someone getting a consumer loan or a mortgage would go through. Then you’ll see the cost of college go down when the infinite safe money flow is not so anymore. Giving a 17 or 18 year old a $35,000 student loan is insane right out of high school. They don’t know better.
This would have worked before but they changed it and it’s you and I who back the loans now - the government is the lender LoL
@@krassimirpetrov7131 Schools or banks should be the lender but they want no part of it. Instead they can virtue signal all day long and don’t have to answer for the risk.
This is liberal politicians protecting the liberal indoctrination machine. They have no interest in addressing the real issue because they ARE the issue.
So teach’Em better scotty
I knew better.. it's not an excuse.
While we are at it. Treat it like every other loan out there. Dont allow the loan if “you wont have the means to pay it back(aka cant take out $20k a semester to get a gender studies degree whos average salary is under $50k). Make the borrower pay a small percentage(10-20%) and never loan out more than the cost(tuition) and charge interest &mortgage payments as it goes so the borrow understands it hurts to make payments. Make better decisions of it it is worth it. And dont let “predatory lenders” loan out more money than someoen can afford to pay back and maybe we would have less student debt.
Ive experienced both sides. I went back to school in 2017-2020. I paid for it out of pocket. All the way up until i realized its the greatest loan ever, because it breaks all traditional rules of loans and has 0% interest for up to 6 months after borrowed.
I wish i had taken student loans and instead bought a house in 2017. I would be way ahead had i just borrowed more than i could afford. Used that money for a down payment on a house. And now i would be looking at getting $10k forgiven for nothing.
Fact is, the government backed loans have created the student debt problem by basically guaranteeing you a loan when you dont or shouldnt get it. Now we want more government to fix a problem government intervention caused.
The fix is already on the table. You have sensible people telling students “college isnt an end all be all, and that you dont want to go into debt for a degree” where as when i was graduating(2009), i was basically told you have to go to college. It was spoon fed down my throat as part of our english grade was based on us applying to colleges and for fafsa
That dude honestly thinks the GI Bill was given free. Ridiculous comparison
THANK YOU!!!
It wasn't given to Black GI's, yes, they were EXCLUDED from this WHITE bailout.
Classic delusion.
Lets not forget he brought up the race card in it. Its a habit
Yeah. Ef off. If free college already exist, then join the military and earn it.
He made a good point, "pursuing an education is a privileged, not a right." We should be held accountable for any debt we choose to sign a contract for; it is unfair for many to be forced to pay for others educational debt, whether it is through higher tax deductions etc. I question myself, why are we forced to pay for individuals' food, shelter, clothing, etc., after they are convicted for a criminal offense? Why do tax paying Americans have to pay for their stay in prisons, county jails, and juvenile facilities? They are the ones who chose to commit a crime. ???
Even Nancy Pelosi spoke against this, live on camera, saying the president does NOT have the authority to do this... people don't care about party or politics, they're just listening to the individuals who saying what they want to hear.
I paid off my student loans and I still get to pay for meaningless wars, corporate bailouts so CEO’s can bring in millions while I get to spend all my money on gas and groceries. I don’t think paying off student loan debt is a great idea but I pay for a lot of stuff I have zero say in.
And $10,000 is nothing for college. It cost $10,000 for just room and board for a semester
If only Americans were smart enough they wouldn't half the taxes they pay right now . It's going to foreign countries you fools
That's called be a responsible adult without having a government hold your hand. You and I are the minority, the nation wants to sit on their ass with their hands out. My wife and I did not go to college (mostly because their are tons of jobs paying 50-80k without a degree) we own a nice house, 3 cars some toys etc. I say if you didn't go to colledge, you simply are exempt from this tax....
@@jmabs5096 I went to college 2x graduated 2x and I’m paying off my student loans, I pay about $40,000+ in taxes I would rather have them clear student debt or at least pay an amount for us. They signed a 40 billion dollar contract recently and that money isn’t for us
@Up Urz I’d rather not pay for wars and CEO’s salary’s and have taxes go to education and jobs. Politicians working for me and not companies and defense manufacturers in their district. But at this point that’s a made up utopia.
Loaning 18yrs kids thousands of dollars is irresponsible for degrees that earn next to nothing to begin with.
I agree 100% , it is not just irresponsible, it immoral
Exactly
It's so true. The loan services would talk you into the worst deal.
Amen
If the government can cancel student loan debt, how about cancelling my credit card debt and my mortgage debt! People are becoming homeless because they can’t pay the mortgage anymore!! Being in the middle class, I just don’t know how I am going to survive with all the debt that this country owes! In the end, who pays!!
Let’s talk about how my sister is only 4 years older than me and her tutition at the same school was HALF the amount of my tuition? And I graduated 14 years ago. Now it’s gone by three times. Well news flash jobs aren’t paying 3 times as much. First part of his argument is so incorrect it is laughable.
Right, people are so ignorant. Everyone should be required to take a minimum of 2 economics class at their local community College.
How does this solve the problem then? Will this make it cheaper? This has the opposite effect. Tution will go up and students will borrow more. Your sister signed for it why should I pay for her debt?
College prices and guaranteed federal loans go hand in hand. Prices are the way they are because colleges know people can take out guaranteed loans to pay for them. Also college has become more about “an experience” rather than education. My college just 5 years after I graduated looked nearly unrecognizable due to all types of new sports facilities, student housing, ect. What you are starting to see now is online college and specialized programs like Coursera that are starting to compete with college programs that are much cheaper. If only the job market would catch up.
did she take out the loan for that amount ? or did someone else sign the paper ? asking for a friend.
@@viralmemes9213 you're missing the point dolt, nobody complains about the greedy capitalistic colleges that are hiking up rates or charging thousands of dollars for books. you wanna blame the individual was trying to get a degree so they can get a job while the corporations are paying less. When are you going to understand that it's the middle class that get screwed. How do you think musk and Bezos and Zuckerberg made 30 40 $50 billion last year? Do you think it's because they're smart? No it's because they're screwing all of the little people. Wake up sheep.
I have been paying on student loans since 2004. I am almost done and have worked so hard to pay every cent back.
Your credit score gonna b through the roof! 😂
Do you think this is a good move or bad move
My father fought in WW2 and served from 1940 to 47. He was one of the recipients of the GI bill. He didn’t go to college but learned carpentering skill. This Marxist just wants to make everything a race issue. My wife and I agreed we wanted me to go to grad school. We paid back w interest around $46,000 in student loans. In the meantime we had 4 children, bought a home. I’m just a regular guy w no high I Q but a work ethic and great wife. I find giving money to a au back a college loan wo requiring giving back insulting
Most people in college are Chinese. China sends there kids here. And now they get free education and Americans have to pay for it.
Good for you! Congratulations, have some great credit as a reward and go buy a house! Hopefully forgiveness gives others a step in the same direction.
Any college that leaves their students unable to pay their bills should loose any ability to give loans, they shouldn't be rewarded for failing.
The colleges aren't giving/funding the student loans, the TAX PAYERS are! If the comments on this video are anything to go by, then there is no reason for anyone in the US to go to college.
But everyone gets a trophy now
The Education-Mafia $$$ isnt able to pay off, the way they did years ago
Agreed
“Loose”
"You have a fiduciary responsibility when the government lays out a program to use it because you have no idea how long this pandemic is going to go for," -Kevin O’Leary on companies going after PPP Loans that will be forgiven.
These people are immune to irony and allergic to self awareness.
The real reason only the corporatists and their pr counterparts in media are mad is they don't want the general public to know that these are choices being made, not something that can't be done based on economic fundamentals.
They're using inflation as an argument to stifle any policies that free or empower the middle and working class. These are meager amounts of forgiveness compared to the millions they are forgiven for. They're making noise because canceling all debt will free people from their grasp. An economically healthy individual will have more choices and won't stay in abusive or low wage jobs to maintain a living.
The truth is, they don't want a society where the majority is economically healthy and educated; it'll be too much competition for those with no vision or creativity. They want the majority unstable so they can exploit them.
Notice; it's all the usual suspects who have been given much more from government or have crashed the economy. Also notice, the media is making sure not to platform anyone who is for these programs. The truth is, because these people cower Corporate Dems, they do the bare minimum when it should be more.
To be fair, he’s not telling students to not use the program, I’m sure he would tell any student who opted out of the program that they’re an idiot. If the government is giving you cash YOU TAKE! Doesn’t mean the program is a bad idea in itself, however if they do enact a program you might as well take advantage of it
U and Tom are incorrect. Nic is right. If u dont understand the distinction that's on u!
He’s certainly good with the bank bailout
Cancelling student loan at any amount is so unfair to all those who busted their butts and paid off their loans. I worked two jobs while in college just so the other students who partied and ran up their student loans can get theirs cancelled 😡
That’s why there should be serious scrutiny before someone gets the relief.
Okay, then how do you feel about food stamps. I bust my ass just to put food on the table while other people get free food every month. What about subsidized housing. I have to pay rent out of pocket every month. So going by your logic, I deserve a free house and free food every month.
People are going to have different circumstances and qualify for different programs whining about working two jobs and not using those programs is a "you" problem.
The fact that the second guest thinks the G.I. college bill was "free" goes right to the heart of the problem. Veterans earned that college education by fighting in WW2 .
He’s just as racist as those he blames.
Yeah it’s pretty disrespectful how he compared fighting in WW2 to service workers during Covid
He is part of the victim movement, these morons play victim all the time and give half ass statements with not all the facts
ya that was an unbelievably bad take by the guest.
It also went to Vietnam Vets
And another thing. Bring back Apprenticeship programs. Everyone doesn't want nor is cut out for going to University. That should not be the default option for being able to get ahead. Bring back and invest in Apprenticeship programs so people can earn decent wages and not be forced to go to University and take on 100k in student loan debt just to get a 60k a year job.
College shouldn’t be only option school counselors promote
It's a scam. In many cases (non-vocational) expensive degrees are just a piece of paper to get through the door, when this could instead be accomplished through (paid) apprenticeships and training programs related to the specific job.
It’s called a union apprenticeship…
Nearly every business could apply for apprenticeship assistance and offer this.
It used to be an employer would train you up...for the past few decades they expect you should be ready to hit the ground running day 1.
Business needs to step up; they are part of the problem.
@@maskdwn4445 those are competitive and limited. You can't just raise your hand and you're in lol. Mostly trades right now...it should be obvious not every person can, or should, work in a trade.
More unions, yes. More variety of apprenticeship, yes.
First of all, the middle class has been decimated by the two-party Rich system and letting the Banks charge high interest for these loans is outrageous. What should be done is a total removal of the loans after paying a 100% return on investment (Principle) regardless of amount of loan. I do not care if it was 10K or 200K on these loans. So, if the loan was $140.000, then once you pay in interest of $140,000 (then it should be abolished).
Or Option B: Understand a contract before you sign.
It’s not a 2 party system it’s a 1 party system. The FBI and CIA control our government and you can see what happens when a leader step out of line.
I love the lone forgiveness. As a banker I now have the government paying me directly with your tax dollars. It also helps make schools more expensive which gives me more chance to dish out larger loans. Thanks Biden $$$$ :)
Kevin is spot on. They need to fix the inflated cost of college. It’s out of control.
Go onto the campus and teach or to the “at risk’ classrooms to deliver to hungry, homeless, and most time hopeless youth. Spend some of your own pocket money as our teachers do just to deliver curriculum. After you finish investing in our future and your pockets are empty, then you ask God why?
this is why i don't go to college
And the interest rates on the loans. These should be interest free to prevent college being cheaper for the rich families who can afford to pay it off immediately, rather than needing to pay double or triple the cost over time.
The reason it is out of control is the federal government took over student loans and made them much easier to get so college kept raising tuition
@@gwyn111 somebody gets it 💯
I think a huge contribution to this student loan issue is gassing people up into believing they are able to preform at a level they can’t. How many people with student loan debt didn’t finish or took out 25-40k for education to get a job that pays less than $20/hr!
My college degree didn’t guarantee a good paying job like in my parents generation.
The one biggest mistake college students (graduates) can make is leaving their college campus without a job. All colleges have career offices that will do whatever they can to find suitable employment for their graduates. But only if the student shows up to get that help. I am guessing now, but I believe that the career offices will also assist alumni with job searches, but only if those who need the help reach out to get it.
@@lancecdcw maybe you should have gotten a better degree.
@@zz449944 you're expecting people that got worthless degrees to now take responsibility to ask for help in getting a job? Surely you jest.
@@lancecdcw Why would a degree do that? You have to intelligently pick a degree that gives you marketable skills that are in demand. Also your own politicians are to blame for the massive glut of graduates with certain useless degrees. Federally guaranteed student loans. Preferential and reduced admission standards.
This unfair program is only going to reward “a bad behavior. It is unfair to those who did the right thing. Those who paid off their student loans. Those who were too afraid to take a student loan and start their lives w/debt. Those who chose to be frugal while at school and lived in shared rooms and eat mac&cheese for dinner. Those who worked full time while at school and paid all their bills. It is also unfair to people who never went to college and now their opportunities are limited. I can’t believe that this non-sense was actually signed.
Just because you or others suffered from something terrible doesn’t mean they should have to suffer also.
No, those of us who have already “suffered” for paying back our loans now get to “suffer” for it twice now…. Makes sense, alternatively,maybe my generation needs to learn personal responsibility instead of expecting everything being handed to them.
Banks, Car companies, Car dealerships, and corporations all of them received some type of relief or stimulus package which none had to pay back. Wealthy individuals only care about the Wealthy people and Corporations.
There's a reason they never give stats per how many students are employed by virtue of what they majored in. For years I painted houses with numerous college grads.
I paid my way through college working as an auto adjuster for a major insurance company. Majority of my coworkers were hired on the basis of having no experience, but having a bachelor's degree in "something". I told my nephew those were the degrees to avoid, as no one gets a degree with the intentions of becoming an auto adjuster. I got degrees in aviation and accounting. My degrees all yielded very positive ROIs.
You have to be strategic in life and that includes when selecting a degree. I was practical in my selection and it definitely paid off.
What was your major? Why not tell everyone what your mistake was or is your comment cap.
If you go to university google up what you should expect to make. I’m going to probably major in Finance, however I am taking classes in enterprise systems and computer science aswell.
And this is a big problem with the student-pay system. It's about getting as many people into courses as possible (many with limited value, or oversupply to what jobs are out there) no matter what to get their money. If college was government paid they'd be selective about what they teach, who they admit and strategic in what courses are funded (i.e. what the country actually needs). It would mean a lot less people go to college, but there would be lots of (paid) apprenticeships and training courses for other jobs which don't really need a university education.
I love how the rich try to tell us what is good for us
How about the welfare of rescuing companies when the economy is bad. The get trillions of dollars from the government. Companies and hedgfunds are the real welfare queens of 🇺🇸. Hedgfunds get state pensions to gamble with while government worker continue to suffer.
You do realize that 75% of those with college debt are the top 10% earners right?
Yea it is funny that when lower incomes want to become rich who do they listen to? Nvm, i will listen to people around me also struggling on whats good for me, cause clearly we got it under control
He’s right.
I never when to college am an immigrant why should i pay your student lone?. Did you go to college so you could steal form me?. Will you pay for my children and grandchildren to go to college?. Let me answer that question no you'll be too busy tell me i should now pay for your house. Free loaders how about asking to reduce the intrest to 1% isn't that help?. By the way what your asking for is for your children grandchildren and grate grandchildren to pay for you. But even with a college education your not that smart are you?.
I can’t be the only one who rolls their eyes at the whole “but all our teachers and high school counselors told us to go!” excuse. If you are under the age of 35 you had access to Google. If you lacked the basic observational skills to think “hmm, maybe I should do a bit of independent research on my own instead of blindly listening to people so bereft of talent they ended up as high school counselors making 30k a year”, that’s on you.
While I agree the cost of college is ridiculous, how things “should be” is completely irrelevant to responsible decision making. To be frank if you were gullible enough to somehow find yourself six figures in debt, you’ll likely just find another way to ruin your life soon.
The GI Bill is NOT A FREEBIE! Our soldiers risked their lives to serve our country, and so they receive the opportunity to get an education which is a part of their benefits. The kids nowadays who stayed home to "work" through the pandemic, doesn't compare to our soldiers who risk their lives serving our country. So, forgiving their college loan is a big mistake.
College was my biggest regret in life by far
If you have learned NOTHING, including life lessons, personal decisions ( self discipline), learning from one's fails etc. If that is the case, I would agree, it would be a great regret. Education will always be the key.
@@b-more2416 I can steal and read the textbooks, find discussions on meaning from those that sourced the books themselves typically for free.
Using your brain and growing is important, college charges you to do something that is easier and more effective to do independently.
Mine was not marrying a girl. Wtf says college was a mistake? That’s on you, guy
@@coldeed you can steal textbooks? You’re not weird at all
@@mattm8932 Yeah, its easy to the virtual copies are put up on torrent sites.
Joe's been complaining about his poll numbers. Now he wants to buy some higher numbers.
Yup. Remember we had to vote for his people before we could get the stimulus check?
An elected "representative of the people" doing something for the people? Crazy idea in America, I know. Sleepy Joe needs to do more like this, not less.
Joe doesn’t know about his poll numbers he’s just mumbling and whispering about ice cream.
There are more non-collage educated voters then otherwise. He hates you. That's why he's doing it. Why else would he use your money to pay off bills someone more pillaged than you didn't think important enough to pay.
@@CptApplestrudl which people? I went to a trade school and paid off my loans myself. My wife did the same. I have many people in my family who went to college and have paid off their loans. Are you telling me that now I've got to also pay for someone else's loans now? I'm not rich by any stretch of the imagination and now my money is going to be TAKEN and be given to those who should have never taken a loan in the first place. I tell you what, I owe less on my home loan than most with college loans. Pay my loan first and then I'll have an extra 1300 a month to help support my community or put away for my kids to go to school and not have to take a loan out. Or maybe free cars for everyone who has a car loan. Or maybe pay for everyone's credit card debt? This is a calculated step to buy votes again. He already promised it the first time and didn't do it. Why would he do it now?
How is this fair for the tax payers that didn’t take out loans to pay for the mistakes of others FKN ridiculous!!!
There should be No Interest on student loans
I paid off my loan after 20 years. Now I have to pay off someone else's
loan as a taxpayer? Please, let's dump this madman of a President in
November, if not sooner.
This is a bailout for the wealthy and billion dollar colleges. Meanwhile working class families are struggling.
Oh boy we have another one
Yes it’ll only lead to more inflation and all of us taxpayers have to pay for it too ! And more inflation !
@@victorg9164 Yes, another one with basic common sense and idea of fairness.
Theirs no fairness when you went to school it was also coming out of American taxes
So if people can’t afford to pay their student loans when they graduate, doesn’t that directly mean their education wasn’t worth what they paid?
People are not going to take school seriously when they get it for free half ass everything
@Mark Miwords Did I miss something, where did Trump come in to this? Oh, is this one of those Trump Derangement Syndrome things I’ve heard about? I assumed it was a joke, but apparently it’s real. Well, I hope you find help for whatever it is that makes you immediately bring up and blame Trump for everything. These problems occurred before and after him so I’m not really sure why he’s being brought up. I hope you find help and have a blessed day.
@Mark Miwords Considering I don’t watch Fox, I couldn’t tell you. Media is sponsored and they’ll do whatever needs to be done to support their sponsors. They show us what they want us to see, nothing more, nothing less. I don’t let others tell me what my opinions are, I prefer to go directly to the sources. In the recent Durham case that you’re talking about, it was made public that those at the very top of FBI knew Sussman’s intentions (so that would suggest he didn’t lie) yet they lied to their own field officers in order to pursue the investigation. I don’t care what parties are involved, if the government is behaving in this way it is highly illegal not to mention exceptionally immoral and those who participate in such behavior should be held accountable for their actions. Justice is suppose to be unbiased (hence the blindfold) however many in our society seem to think it’s only needed when it’s pro “their team” yet screams the loudest when it goes against them. What we tend to forget is that while we may support one side doing something unethical and illegal, it’s only a matter of time before the pendulum swings the other way and those tactics be used against us. The goal should always be to get the pendulum back to center.
OR they lack monetary discipline.
@@Mrbfgray What 18 year old understands financial decisions? The frontal cortex hasn't even finished developing yet. So yes, maybe they do, but it's the same reason you can't drink until your 21. No, college isn't worth it anymore, and that's a bad thing. Because it means a less educated society, which means less educated voters, and a less educated workforce. People need to understand why education is a good thing, and it seems like most of this country is too dumb to understand why. My boss never went to college, but he gets to benefit out of having a worker who did (i.e. me), and because of that, I developed problem solving and math skills needed for this job that he constantly needs help with. Thanks to my computer science degree, now I'm developing custom software for our company to use. These all happened because I went to college, and it benefits the rest of my company who didn't go to college. Stop thinking about you, and think more about your community, because everything boomerangs back to you when you help your community.
Will any white American be willing to trade places with the black veterans who received the GI bill? Or more accurately who were DENIED the GI bill despite fighting in WW2?
Kevin says he can't find no one that likes this idea. That's because he's out of touch with the average person.
This isn’t a generational problem. My parents could work part time over a summer to pay for a year of college tuition plus room and board.
My student loans are higher than a full year of my income and I worked a full time, well paying job the entire time I was in school.
My kids started have “college preparedness” thrust on them in Kindergarten. College degrees are required for almost every job over minimum wage these days.
College education is not a right. It’s not a privilege. It’s an employment expectation and regularly a requirement.
this needs to be amplified.
College degrees are not required these days. That is a false assumption. You are behind times. Most tech jobs, coding, and data analytics require skills that are offered by many Income sharing agreement schools. You don't pay any tuition until you get a job. Tell those college grads who work at Starbucks and Amazon earning minimum wage. Ask them about the worth of a college education. They don't have skills but they got a piece of useless paper diploma.
@@TYUAN2009 they aren't forced to take out a loan it makes partying ez with extra cash
a plumber just charged me 12k to fix my house septic for a one day job for them
I've hired a lot of people in my career and I dont believe collage is a prerequisite to employment.
Average tuition for a good instate collage is under 10k.......
Being smart and driven has nothing to do with collage and everything to do with having a successful life.
Nobody made you go. Stop whining and take responsibility for yourself.
How do you compare the GI bill with forgiving student loan debt? One group sacrificed for this country, the other didn't. John is clueless.
Most Black military never received the GI Bill. Only white people did. So only white folks who served and their families went to college for free.
@@cougarlady112 The structure of the GI bill did not discriminate. It was southern democrats that put in provisions that it would be administered at the state level. In addition, if you were dishonorably discharged, you were not eligible.
@@Scott-nj9gq, guess you haven't heard about the new GI bill introduced to fix these problems you don't believe exist.
@@cougarlady112 I'm well aware of them. Are you aware that it was the democratic party created the problems you noted? Not sure what this has to do with the fact that John compares forgiving student loan debt for doing nothing versus people who fought for this country.
I mean.. you can't even get a $30k/yr job without a 4-year degree these days. Is it really a privilege
Man we were kids when they took advantage of us with the Student Loan program I was 17
Student debt isn't about irresponsible young people taking out more loans than they'll be able to pay back.
It's about a corruption cycle between loan companies, lobbyists, and our lawmakers, designed to make them rich and powerful - AT YOUR EXPENSE.
Lol
Take them away and people will complain about privileged kids going to school and not them.
@@michaelbuselli336 EXCELLENT point Michael
Not everyone needs to go to a high dollar four year college or one that’s out of State. Start by going two years to a community college while working part time then transferring into a local four year school. Yeah, it’s not the same thing and it requires sacrifices but hey, it didn’t hurt me any and I’ve never looked back. Too many people operate on a self deserving mindset.
I worked two and three jobs to put myself through school..... its not hard people....
If forgiving student loans is a good idea then why not forgive mortgage debt also?
$30-$40k off the mortgages of those who do not get the Student Loan Repayment.
That’s FAIR to the working class and minorities plus housing is critically important to most working class people.
Just file for bankruptcy. You can do that tomorrow. Its unfortunately not an option for student loan borrowers.
Agreed, housing is actually more important. If the gov’t just gave 18-yr-olds 1st time homebuyers mortgages, this would be preferable to the landlord system.
Not a fan of Kevin O’Leary. Who wants other human beings swimming in debt? Who would want that?
People invested in SLABS
We worked hard to pay for my kids to go to collage. We sacrificed doing and having things to save money for this. Now I am being told I should not have done that. Each of my three children could have gotten $20k to start their lives but instead I am paying for somebody else. Somebody else I don't even know and who could be bothered to save for this. This is completely unfair. I hope the Biden Admin will pay me back the $60k that he owes me.
Same thing happened to us. We spent all our money on college (5 kids) so we have no money to help with home for them or anything. Friends of mine are using forgiveness to get their children homes now because they never spent a single dime on college. It's complete BS!
Unless we address the rampant price increases of college, we will not correct the underlying problem. Why do public college deans fly around on private jets? Why is almost 3/4 of the UC Berkeley staff non-teachers (i.e. overhead). There are only 7 students per administrator at UC Berkeley. The spending in colleges it completely out of control.
That being said, they should allow bankruptcy to discharge the loans, at present it can become a millstone around your neck if the degree doesn't pay off and you bomb out.
Also, each school that has non-performing loans should pay at least 10% of the debt that was forgiven, to punish them for not preparing their students for real life. We can't just let the schools continue with their wicked ways.
It only works if we also force down artificially inflated costs. Education costs are an insurrection against our future.
You go ahead and tell all those tenured professors to teach for a pittance and then wait and see how much shittier the education gets.
@@danjenkins8981 the professors are definitely never the ones getting the money. Its ALWAYS school administrators who get so much and raise prices artificially.
@@danjenkins8981 The ENTIRE Education-Mafia $$$ is a fraud
@Macey Schitzs you didn't learn much from your degree. Free school programs are EXTREMELY exclusive and grants and scholarships are FAR from enough to pay for school. The price of college has gone up 180% since 1980 but wages have only gone up about 110% on average during that time, a vast inflation of cost. Education is free and reduced for a select few but the majority are saddled with unpayable debt.
Its well worth spending 500K to get that student their Trans Gender studies degree It will greatly benefit society Worth every penny
It's a shame people have to be told this and they still won't get it
It's almost like people forget they aren't paying them in whole--it's just scraping the top off of insane interest.
This was just an attempt to buy votes! & it worked!!what happened, is that they were spreading around the words that they would repay 10 to 20000 now, and that's just the start..There were talks with the people knocking on doors to get people to vote, saying that they would forgive all that..This was an attempt to buy votes period and it worked
GI Bill was free?? Those who got the GI Bill earned that with their service. Saying it’s free demonstrates a lack of perspective and historical knowledge at best. And at worst is an insult. Do better.
Exactly!!! GI Bill was not free for me!! 5.5 years and 3 deployment (99-04)
I agree with Kevin on this one, even though I would love to have my student loans wiped out. But in principle, it is completely unfair.
Unfairness alone isn't a good reason not to do something. When what we now call high school became "free" in the 1800s the same arguments were made. "I paid good money for this education, why should they get it for free?" Etc.
@@Smith-sz9nt So true
What is unfair is that these fake colleges with unethical practices were allowed to operate for years. Sallie Mae, Navient etc.. where all part of this scam. ITT, Devry and University of Pheonix etc.. should be wiped out.
@@Smith-sz9nt And the financial difficulties that some are facing is not a sufficient reason to do something. The burden is on the supporters of this to explain why this is necessary, beneficial, and just, particularly over an alternative that would impact more Americans, like forgiving 10K in credit card debt for every American.
So bcuz you had to suffer you want other to?
I love rich people telling me if something is good for us poor people......
Right lol
Do you think this is good for poor people? This will be paid for one way or another. They don’t care about poor people! It’s a scam for votes.
Yet the poor pay no taxes and ask everyone else to bail them out.
The most horrifying thing to the rich is losing money.
Most horrifying thing to the poor as well…
Everybody wants something for nothing and something for free. It took me 5 yrs to get my degree. I worked full time, and was fortunate enough to have one yr of student loans. I paid them off. I worked full time at night going to college. If you went to college and got loans, then you must pay them off. Not the government. Now, if we want to make some public college education free later on, I'm fine with that. But I am not for paying off your loan for free. You must do something in return. Community service, military service or something. Student loan forgiveness is and has always been a bad idea. Nothing in this life is free except Death and Taxes. I taught my kids when they hear the word FREE..to walk the other way. Because there is gonna be a line.waitin for FREE. Always will be.
Amen.
Labor was Free until the Proclamation Emancipation signed by Abraham Lincoln on January 1, 1863. My family came from Africa and built America for free.
@@MegaMsliz I understand what your saying. Slavery was appalling, but that statement can easily lead to a slippery slope kind of argument. Native Americans getting kicked off their land, Chinese Americans get sub standard wages during the building of the transcontinental railroad, Japanese Americans getting put into internment camps during WW2. Everyone feels at some level that America owes them something and the squeaky wheel gets the grease. Today, America is a different place. Most of our youth don't hold the belief of our ancestors and having anger and vitriol to people who are not slave owners or racists is a self-defeating cause. At some point people are going to have to leave the past in the past and stop rehashing it and being hypersensitive to supposed microaggressions. African Americans are not the only ones struggling in today's economy. We are all struggling, slavery or not. Free government handouts is tanking our nation. The gap has closed tremendously on race, gender and the opportunity toward acquisition of wealth. We need to stop using the past as a leveraging point on why the government should owe us free money.
The whole world is Free now! Find your purpose and enjoy your freedom. We all deserve deliverance! God created us all for good. The question is, “What are you doing for the public good?”
@@MegaMsliz I can clearly see..You love the thought of Sh..being free!
Give me a break, John. Mr Wonderful is spot on
Just remember Kevin O'Leary is rich and his son is a software engineer who works at Tesla. They have incredible survivorship bias here.
The horrible reality is that student debt is the actual “product” of a whole industry of corporations that are shareholder traded, student loan “institutions”. Students have become their indentured servants and Universities are their recruiters. I have a college age kid and two more coming up on it. They are all honors students, so considered college material. I can tell you that colleges recruit relentlessly, and that every single college rep, school and college counselor, or advisor talks about student loans like they are an expected, typical, automatic, completely normal part of the education process. No one explains the different types, or the payment/interest/ fee structure. No one explains that there are few federal or state regulatory protections, and there are myriad ways that that fees and interest get tacked on. For instance, loans that start out as low interest can be resold to “consolidate” them and get 200% increases in fees and interest tacked on. When you are college age, and all the adults advising you act like this is normal and mislead you about the terms and rules, you follow their lead.
The real world is full of deals that are too good to be true. If you fall for every one you’ll be in debt your whole life. Need to smart enough to not sign on the dotted line unless you know what it means. Taking out a huge loan with no job seems like something that would make people check out what it is going to mean to your future. Just saying….
The problem is that in the 70s, 80s, 90s, even the 2000s…. if you got a college degree you were almost guarsnteed a good job that could pay the bills and see success. That’s not true anymore, graduates get paid significantly less right out of school relative to inflation and have significantly higher loans to pay off. It’s just simply not as easy as it used to be… and to the people who say “if you’re concerned about that then get a degree that pays well or go to trade school”….there’s a million professions needed by society that require a degree but still isn’t pay well. Teachers are a prime example… we NEED teachers. But those teachers are severely underpaid and need to get a degree. Those kind of people have real passions but are struggling hard from loan debt.
👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿
You have it backwards. If you didn't go along with the game and pay $100k+ you were locked out of many successful doors and left in the cold.
2000s? that's not true! although college was indeed less expensive, the guarantee on good jobs was not there.
Yes yes yes
So true
I’d rather pay for student debt than pay for peoples golf vacations and million dollar spending habits. (Like all the wasted and left over money that goes into our military)
You're going to pay for all of it and more. You have no rather. You're not in the club.
@@wilfredruffian5002 fair. What I’m trying to say is, I would rather pay for something that is actually benefitting people rather than waste money that goes to people who don’t deserve it.
I'd rather pay for neither 😉
@@puppetmaster1403 well good thing I didn’t ask you 😳😏
@@Johnny_Appleseed_ You pay that in taxes now to the Biden administration.
10k down payment, and then default on the other 90k because guess what… it is debt.
We tell them if you want free education go anywhere but the US
if I could get my loans forgiven I would go to jail for a year rather than be shackled by a lifetime of debt.
Why don't you just pay off the debt after you graduate from the career path you went to school for?? Thats how everyone else does it...use your salary to pay for your debts! 🤦♂️
@@Anklespank you're being cute right now and I won't play your game. If you wanna be a troll ok. But you're simping for the gov/the rich if you really think our country is better pdf spending trillions on jets that don't work rather than this. Wake up
@@Iceman-gm1fu what you're suggesting is the same as giving a select ppl free money for investing into their future. If you dont want an education, don't go to school, nobody's forcing you...if you want a career path that requires a degree, then you have to earn it like everyone else.
There's no free car rides to Hawaii... how's that for being cute?? 🤣 If you wanna go to Hawaii, you gotta pay for it like everyone else, same goes for a college education
@@Iceman-gm1fu the problem here isn't the govt buying jets...its the false sense of self entitlement that the youth of today project as real life reasoning.
Everything in life thats worth while attaining comes with great sacrifice ...thats why some ppl end up dirt poor and others are rolling in success. Society is designed this way to separate the winners(who work their asses off) from the losers(whiners) who make up excuses
@@Anklespank Answer me this. How much would you pay for the opportunity to meet the man /woman of your dreams, your true best partner possible in life?
You don't speak for everyone. But between me and you, if you tell me not everything, you win this argument.
4:02 "Too much month at the end of their money" hahaha🤣
AKA, they blew it all on BS at the beginning of the month instead of budgeting like a RESPONSIBLE adult.
Yep… so let’s give them more money to blow on useless nothings… that’ll really contribute to society.
Will this apply to VA home loans as well?
I wanted to go to college, yet I declined because of me having to pay back loans. So yea this is so unfair.
Thanks, Becky! It isn't free when you got shot at and almost died for your country. His argument sucked. Kevin nailed it.
It is effectively free if you are DRAFTED into the military and forced to fight.
The point remains that white middle class society received an economic boost from the GI bill when blacks were left out. That created a wealth gap that exists to this day where minorities are also disproportionately impacted by the college debt. Providing some debt relief benefits the entire economy.
Student loans are unfair. Curious as to what the percent of the debt is interest? My amount owed is around 65% interest and just keeps growing.
its predatory lending. Guaranteed student loan should have a one percent interest rate at the most
You signed for the loan….. did you not know how a loan works???? Have some dignity and pay it back … don’t look for a government hand out.
@@scottmelton3092 are you insane? Do you know how many billions of dollars rich people DON'T pay back every year? Do you know how much money rich people DONT pay in taxes or interest because congress borrows money from Social Security to give to those rich organizations? And then those same rich organizations turn around and hike up their prices to screw every day Americans? And then when they can't pay for their student loans you want them to be held accountable? Like the government doesn't give away billions and billions and billions of dollars to rich people every day while crapping on the middle class in low income people? Kevin Oleerys wife MURDERED a man with her speedboat while drunk and got off..... Of course, he wants low income, middle-class people to pay back the debt because he's the one benefiting from it. Get the hell out of here sheep .
@@scottmelton3092 Here's the thing, there is no possible way for me to pay it back, ever. I will die with this over my head.
@@andreabradley5837 I’m sorry to hear that, try your best and the help is probably coming from the government. Maybe a lesson learned on how the world works.
I was railroaded with 7% interest, because I was a dumb kid. I was literally the first class that they handed this money to without explaining all of the implications. You can't discharge it in bankruptcy, it's compounded daily, and when I pay ahead, they apply my extra payment to next months payment instead of the principal. They don't want you to get ahead. The government shouldn't be making money off of student loans. It's a tax. It's a tax! The fed student loan program was built to exploit students, so the billionaires wouldn't have to pay taxes.
Why does the O’Leary think that 10k is gonna discourage academic excellence. Of course that 10k help but it’s not going to pay off all the debt that many students have. This even may encourage students to pursue grad school and keep educating themselves. Stop putting a price on education. We need to ensure we have capable people working on health education and STEM fields
Exactly. People who are so against this really need to stop and think for a second: how on earth would doctors be able to get the education they need to become doctors without taking out loans? Pretty much no normal person (unless they have copious amounts of wealth from their parents) could become a doctor without having to take out loans, because med school is unbelievably expensive ($200,000 plus). My old dentist friend told me that she and her husband (also a doctor) have been working to pay off this debt for 12 years and still haven’t finished. And they’re not those doctors who blow money like it’s nothing - they live frugally and humbly.
People should not have to be slaves for decades in order to get the education that they NEED.
All the people in the comments section of these videos who are going into their personal stories of how they sacrificed family vacations in order to “do the right thing and pay off their loans” - that is awesome that you were able to do that. I’m sorry that the timing of this bill was after you finished, but don’t act like you wouldn’t take this money if you were still had more loan payments to make.
I don’t get why they are so terribly angry at complete strangers calling them horrible names and calling them lazy when they don’t know their situation and how hard they work everyday. some people are just drowning in debt and $10k could provide some relief. And if it’s the tax thing, we all pay taxes for things that we feel do not affect us. We pay taxes so POOR strangers can have Medicaid. We pay taxes so that strangers can go to war in other countries and fight for decades (despite those wars not benefiting us in the slightest…). Whether these ppl think so or not, they ARE benefiting from people going to college, even if they don’t. Someone who didn’t go to college needs to go to the doctor. That doctor had to go to college in order to be a doctor. So how are they not benefiting?? Education shouldn’t be so expensive that people have to take out all these loans in the first place.
Average military young service men & woman make on average $20K a year sacrificing their lives for our country & freedom for ONLY $20K a year. The GI Bill is the least we can do to reward our brave service men & woman that volunteered to serve.
20k is base pay. Factor in bah, bas, tricare…. We’re paid pretty damn well.
Sometimes it’s not what you make but how much you don’t spend….Military get Free Housing and Free Food and when they are really risking their lives in combat they don’t pay taxes….so that 20k/year isn’t what it seems
It’s not one or the other
@@jgetscensored7837 retirement benefits including social security are only factored by base pay the allowances don't contribute to those at all.
@@rizzle6842 ignorance is bliss. Stay blissful my friend.
For what it’s worth to this conversation, I did choose to get out and I’m getting out within a years time. Choose, as in a choice…. Not sure how you figure I or anyone else is a slave when we have the right to decide our own fate.
The upper leadership is lack luster at best. But the benefits are attractive. It has nothing to do with needing structure or seeking power. The attraction comes from being able to retire at 40 years old. Some of the best medical insurance one could ever hope for, and it’s free. Free college. How much was your degree? I bet it was a lot more expensive than mine. The experiences, memories, and brotherhood…. It’s stuff you would never be able to handle or understand. I had a great 8 years in it, but it’s time for me to get out and enjoy my time on this planet. Even at eight years, I’m going to collect a paycheck for the rest of my life. About $30k per year. I could go out and get some nonsense $70k per year job and still be making six figures.
I agree with Kevin on this one. If some wealthy donor is going to pick up the tab then ok. But not the taxpayer.
I would rather pay for this than throw more money on top of our bloated military spending.
@@rachelk4805 If that were an option then id be with you, but it's not. This is proposed ON TOP of the military budget. This is an assault on the middle class.
Kevin says:
“it’s not about race or gender”.
Why since British colonialism and since the Constitutional Convention, White men have had a 99.9% domination in:
Science
Technology
Engineering
Math
Medicine
Business
Law
Economics
Politics-has just been a coincidence?
Only in the arts, is there history of it being slightly more equitable.
A good way to pay reparations, is through education.
Student loan payer here and I don't even like this policy. Student lender promised to take the responsibility to repay the debt now the whole nation has to bail them out?
Very tough conversation - I don’t think there is a perfect or right solution for this. However, something has got to change for the high tuition costs.
In my opinion, I believe everyone wants to have an education and have a bright future filled with wonderful opportunities. What no one tells the students is college is a business and you should be very, very careful with the career you choose. Most college students graduate with alot of student loan debts hoping to have a successful career to pay off all the debts. In reality most college students cannot find a good paying job and the interest rates on the student loans in the end become enormous. In my opinion, college is a business and I wish children learn how to invest at an early age from high school so that they are not enslaved to the economy and political systems of this world.
You are one bright lady.
Well, we don’t teach these kids that. It’s the equivalent of giving out loans in a special education classroom. Immoral.
Lastly here’s the number of degrees that have a salary equal to the cost of education…. Nursing… engineering.
There ya go. That’s the whole list. Everyone else like doctors and lawyers take out about double the salary to get that job.
At this point, only pain will teach people. We will continue to lose medical staff until we can’t take care of our own. Enjoy.
College isn't a business unless your definition of business is pretty much every institution that deals with a budget. For-profit colleges are businesses.
The simple fact is college was cheaper for previous generations and there were more substantial benefits for getting a degree. College is more expensive and less helpful for getting you ahead. Was this inevitable or did we screw something up? If it was inevitable, sucks for young people I guess. It still puts a hole in this dude's generational argument since early generations had to pay back much less with relatively higher wages.
O the poor lawyers and doctors
@@edwardmilano4610 remember those words when you wait 6 months to see a specialist.
"You should pay because your grandparents got it for free".
Big brain take.
What do you expect, he's a liberal...
Asking Kevin O’Leary on his opinion on anything is a horrible idea
Always brings it back to race when Kevin speaks facts
Help those in need. Such an evil concept.
NAH. Nothing wrong with what Kevin is saying here.
“There’s no ‘free’ money. You’re asking people who never went to college to pay for this. It comes off their income tax. It’s just wrong.” 🔥👌
And yet, here I am, a childless man paying for the tax breaks for people with children. I'm glad I get to contribute to the growth of the next generation. That's how government works, we all chip in to try to make the future better for us all.
@@franksilva4175 ok, but that is such a broad statement that really says very little. The devil is in the details. Paying for everyone else’s stuff is terrible policy. Sending more and more of your cheque to these bureaucrats you’ve never even met with the expectation that they will do what’s best is blind faith. Also, redistributing wealth is immoral; taking money from those who work and giving it to those who can but don’t or to pay off their education decisions is stupid policy. It isn’t the governments decision to pay other peoples bills off with our money. You want to send people money? Have at it. That’s your choice.
@@franckiewicz0831 As a Christian I do believe in giving money to those that are less fortunate/in a worse position than I am. Yes, governments are imperfect when it comes to helping others out. So are charities, and honestly, myself as well.
@@franksilva4175 ok but that is a separate issue. Forcing people to give others money is not sound policy. You are free to give to any charity you want. That’s the difference. The government cannot volunteer other peoples paycheques and give it to others as they see fit.
@@franckiewicz0831 isn't that the whole basis for pretty much all of taxation? I'm definitely forced to give up plenty of paycheck each week to others!
Taking out a loan requires you to be responsible and pay it back. Don't ask another person to pay for your stupidity. Better yet, don't get a loan that you know you can't pay back.
tell that to Wall Street and those who attacked the capital on 1/6/21
What 18 year olds are all that responsible? Seriously they can't even rent a car but can take out 1,000's of dollars in school loans?! its like credit card companies praying on young teenagers. When your young you don't really understand what your getting yourself into, their young and impressionable, they just want to get an education so they can live out there dreams but not releasing its a scam, a long term scam with no guarantee you are even going to get a job with enough money to even pay the loan back. Why don't they just remove the interest so people have a half of chance? Remove interest and remove all bad markings from the credit report for trying to get an education they shouldn't be penalized for it
@@katieknutson8291 The fact that they are young and impressionable has no bearing on being accountable. If we would stop coddling them by always rewarding them when they finish last in a contest or race then maybe they will learn to grow up and realize that hard work and effort will get you everything in life. The decision to borrow more money to attend the school that is too expensive is the first life lesson, meaning to look at less expensive avenues to achieve the same degree rather than trying to attend those very expensive colleges that really aren't worth the money.
@@zw2391 Actually it does when these kids go to these University's they are selling them on a dream, roping them in and these kids are signing there life's away. These colleges no what they are doing. Their are reasons why young adults aren't not allowed to do certain things like renting a car and or by alcohol but they can take out almost $100,000 student loans. Student loans are a scam, its just another way for our government to make money, the interest is through the roof and no guarantee that they can even find a decent living wage. School loans to get an education should not be life altering lesson as you put it. I'm not saying they shouldn't pay them back but how about removing the interest and penalty's so people can even have half a chance on paying it back.
@@katieknutson8291 I think the first thing people should be questioning is why do those schools charge so much for tuition and such and then go from there. Student loans are there to help pay for those costs but in some cases you just have to say no and don't go to those expensive schools.
It is a shame all these students were forced to take these loans .I feel the government had no right to make these students take this money as a loan and have to pay it back
I am a student lender and I was never forced into taking anything. When you apply for loans and aid you receive a bill breaking down all the aid you can receive including loans. You have the option to opt out of any program or loan before signing the promissory contract. As tragic as it is people need to pay the loans of even if it knocks them down to poverty level. Going to college was never a guarantee of success and people need to stop acting as if they are entitled for success.
@@nickdesanto6119 stop the corporate bullsh*t talk buddy. It’s predatory government loaning and you know it. No 17-19 year old kid should economically suffer the rest of their life from being coerced into taking out predatory loans fresh out of high school
These universities are nothing more then for profit companies masking as “educational institutions”
@@ramboslice7322 how are they forced? Who pressed them against the table saying 'sign'. Wasn't the government or the university, you had to go to them to get the loan they didn't go to you. The parent? Most parents I knew of were skeptical of college. School counselors? I remember my counselor saying ' don't take these loans out, go to a trade or a community college and if you want to go to university you already have most of the classes done at a cheeper cost'. The fact is we made a mistake and it is no one's responsibility to bail us out. To be honest no one should be bailed out not even companies.
@@nickdesanto6119 of course they didn’t force anyone’s hand but they might as well have. Everywhere kids go they’re being forced fed the idea by corporations and authority figures that they should sign up for some overpriced fancy school and further their “education” with their specific university. Just take out this student loan and go pursue their dreams and everything will all be a happy ending….It’s a fantasy and it’s not fair to these young kids that you know damn well don’t fully understand the full ramifications the toxic debt that they’re signing up for.
That’s why more parents need to educate their kids to learn a high skilled trade or apprenticeship and leave those stupid greedy overpriced universities alone.
@@ramboslice7322 that is what parents are for, that is what school counselors are for. You talk as if the kid them selves sign for the loans but, at least for the first few years, the loans need an accredited cosigner. Are you saying the parents are so naive to think all they need is to sign the loan for their kid and the kid gets a gold ticket to life, or to not be responsible enough to have their kids understand the risk involved? The parents are already involved.
I was homeless went to community school as a industrial electrical technician in the ghetto. It was cheap no thrills no parting worked 40 to 50 hours and class/Study 40 no student loans no thrills. Just lab time study complex theory and programing. Oh I make 100k easy every year but why should I and poor people pay for others bad life choices?
Getting an education is now a poor life choice?
@@Blaze6432 depending yes... Going to 50k school for a degree in liberal arts a degree that pays average 38k is a bad choice
@@bannedagain1784 Even though we still need social workers, teachers, HR representatives, which generally require more "arts" degrees. But yah, pets punish those people with horrible loans and terrible pay even though we as a country still have a demand for positions.
Student debt and college education is a joke all together. I don't get how people don't realize it's another means of control
Control? It's voluntary.
@@justinedse3314 the whole construct of college was to disqualify people from job positions that didn't go. You rarely need the skills of learned in college to do the specific job. They control amount of people that can go to school by creating a whole debt system for the less wealthy.
@@justinedse3314 Wrong. It's a strong arm tactic. It's not that the say you can get a great job if you pay $100k for college. They clearly say you will not even be considered unless you pay for a degree. It is wrong on many levels. Jobs should be about a persons ability to do a job- period.
@@MOAB-UT Wrong, Elon Musk will hire people without degrees if they're competent and can do the job. Many others will too. I'm not sure who you're referring to when you say "they." You don't know all 8 billion people in the world, neither do the talking heads, and neither does some study.
Therefore you are wrong. It's also your decision to sign a legal contract with a bank just the same as a mortgage. Don't sign a legal document if you're not prepared to pay back the money like a real adult.
@@justinedse3314 And Elon Musk will also treat you horribly and violate your rights as a worker. In the end, who really wins in either scenario? Not any of us, it's those who already have the money, those who are in control.
Kevin O'Leary is so right on about this.
Yeah with his Canadian Education that he paid off working a summer job by the time he graduated. Listening to the ultra wealthy like Kevin and the Loan companies is what's wrong with america
sounds about White.
@@jonnnyroundsy3107 most of “ultra wealthy” is democrat…
@@jonnnyroundsy3107
What's wrong with that?
O'Leary has all this smoke for struggling americans but no smoke for Dark Money Billionaires and fascist right wing think tanks as well as Neo-Liberal con artist all whom are financially supported by the same banksters and Dark Money policy makers . He is gaslighting his A$$ off don't let this clown fool you jean unless you down with his gaslighting .
It’ll cost us around 75$ to come up with the 300 billion needed for this. This is about $10 every week for 8 weeks
O’Leary has been bailed out countless times. All of a sudden the middle class gets a break and he turns his nose at a hand out.
He’s benefiting tremulously from the system. He’s a conman.
I would have went to college if I knew this was going to happen.
Me too, know we get to pay for there education, and they make more money.
Or you can still go to college.
@@laartwork If I do, are you gonna pay off my loan, LJ?
@@rockolin2573 yes they make more money to pay for your services or products or ever you do. So you don't want a stronger economy? Well I don't know what you do but know you aren't an economics professor.
But you may be an executive at the bank that is collecting on these loans. Not sure why you are ok with then making all the money rather than citizens. Hmmm
@@garretth.middleton9479 why would anyone other than you pay for your loans? Take some responsibility for yourself. Join the adult world
Kevin O'Grady, VENTURE CAPITALIST. The banks rake IN TRILLIONS from forever interest and fees from student debt. Tuition and fees have increased thousands of percent in the last 25 years. When I went to a STATE university supported through tax dollars in the early 90s I paid less than $400 dollars a term, and got an academic scholarship that was full tuition. As I was a single parent I still had a reasonable student loan. When my daughter went, same state, in 2010-2014 the cost was $30,000 a year. She got an academic scholarship for her 4.0 average of $800., and she is buried in debt with children now. The state colleges and universities continue to receive tax funds. Faculty don't receive much more than they did 30 years ago. It's become a racket. O'Leary is spewing the banks' spin claiming, really, that tuition going up thousands of percent making PUBLIC supported higher education only available for the wealthy is the American way, "it's a priveledge". Don't touch our billions of forever interest money. Peons go get a job at the country's biggest private employer, Walmart. We don't want an educated population that makes money to put back into circulation. We just like keeping all the money and have the population ignorant enough to do what we want. ( interview supported by corporate media).
I thought it was all direct lending now? I have a $1,600 a month student loan payment.
@@eprofessio Subsidized or unsubsidized, or PLUS for graduates with higher interest rates. The money comes from banks. Subsidized just means that it's deferred while being a full time undergrad student. When we pay it, its managed by Sallie Mae or whoever, but we owe the money AND INTEREST TO the banks. Thats why no president will sign an executive order to forgive our loans except for disability or token amounts. They're not going to end the forever windfall for the banks. You should know from your loan papers which banks you owe. I did.
I agree with Kevin O’Leary.
Internet is all You need. Requirements should change and They are.
The USA has quite a budget to spend every year. "Why should I pay for this?" is a valid question. More people ask "why is nobody spending MY taxes on what I need?" is just as valid. If the spending would correlate to the needs and wants of those who pay taxes, policies would probably look much more progressive than they do right now.
Absolutely
Sure. Let's have students that's got stiffed keep paying the college scam artists while giving millionaires and billionaires tax cuts.
True, 230 billion estimated, when a stimulus check for everyone would run around 300 billion. Democrats say a stimulus check is to expensive so why isn’t student loan forgiveness. Most everyone is hurting under Bidenflation. This forgiveness does nothing for most of extremely poor or elderly.
@@user-cj1tc8zi4e Bidenflation. FJB
Actually, if you work in government, the saying, "Use it or lose it" is well known. If you don't waste unneeded money, you won't get as big a budget the next year.
Is O'Leary a U.S. citizen? Just asking.
Doesn’t matter they consider illegals from Mexico citizens. I’m sure Kevin got his citizenship
Canadian.
@@themaskedman221 yet still smarter then 80% of Americans including me.
@@getmeoutofiraq05 Indeed, O'Leary isn't wrong about this issue.
idk if he is a dual citizen or just Canadian but does it matter? Do you ask same question when John Oliver or Trevor Noah do their shows?
I have not listened to the video as of this post. I am really interested in what John Hope Bryant has to say on the topic.
This country bailed out and corporations during the Great Recession and let’s these corporations pay very little to nothing in taxes every year…. And we are upset that we are “bailing out students?” Unbelievable. Pathetic .
They drill t in your head to go to college. Education today is far more expensive then it was in the 1990s. If anything get rid of interest rates.
Yes, but make the college's and banks pay it off, not the working poor!
All talk about college never push for trade. People should be laid out with all the options so they can make an informed decision. Glad I am aware now I can pass on the knowledge.
Tell them the same thing you told people who worked themselves to the bone only to have banks bailed out while the American people lost their homes.
Except I’m sure Levin O’Leary was all for that bailout!
First, colleges need to stop charging a fortune in tuition and fees but unfortunately we already paid. I owe my son and my daughter’ parent plus loan since it was the only financial aid we could get. I am 55 years old and I lost my job in 2020. Last year I had 3 interviews from hundreds of jobs I applied. Nobody wants to hire me due my age so for me U$10,000 means a lot. Most part of DACA students get the college education for free and military staff won the right to be educated so the working class has the right to get a benefit too.
DACA kids shouldn’t even be here unless it can be proven they where actually thrown over the fence.
Education is a right not a privilege. Well why stop at college lets also make families pay 15k a year for kids to go to middle school and high school.
Printing money is never a good idea regardless of how you spin it and this is a huge stretch.
Biden has been printing money like he is breathing air. Prices will keep soaring on everything we need. Things will only get worse for the people.
Not sure what the Biden Agenda is but this only leads to poorer people, homelessness, and civil unrest.
College graduates make the most money on average and the inflation resulting from student loan forgiveness hurts the poorest
Yet, the debt goes to citizens who have decided not attended a college because it was unreasonable to pursue non-critical degree. No wins, the guy is just trying win the argument, but just can’t because it is non-rationale.
I bet when they were bailing out the rich people you didn't say anything...did you???
@@FLAC2023 wow you like make a conclusion of everything, you must be genius who knows everything~
@@FLAC2023 yasssss! Why is no one talking about that!!
Kevin, the reason why you say it's un-American is because black people will benefit.
Also, so many of Kevin's businesses have had PPP loans that have been forgiven.
Do you have proof that he took out PPP loans?