Considering the lengths people go to trick parents into sign over there 1st borns & as a 1st born myself, I sometimes worry about what happens to me if someone manages to trick my parents into signing me over.
As a child that lost their parents at 16 and was only able to go to college because the college supported me when I filed as an independent, hearing people take advantage of these systems put in place for kids with no homes and no families is disgusting
Johnny Five BECAUSE IT’S NOT RIGHT. We’ve seen it all before with Rockefeller & Carnegie & in many of the crooks that have unfairly got rich in this world. It’s greedy and inconsiderate. That’s why.
I worked two jobs to pay off my student loans. I lived a very basic life, even taking the city bus, instead of owning a car. I paid my student loans off because I made a promise to the government when I got the loans. It's called being a responsible adult.
When I went to college, my parents made enough that I couldn't get financial aid. Normally I understand, but in my case, I had been out of the house on my own for a year and a half, paying my own bills, but still had to put them down. So I made $9/hr while my parents made plenty, but I was judged on their income. Not saying that is what is happening here, but let's not judge every case as the same.
@abracap0cus - when the wealthy are taxed at 95%, would that suit you? Why don’t you appoint yourself the individual who gets to decide how much everyone is allowed to have. We’ll build a statue of you right next to Carl Marx.
Parents are not legally bound to send their children to college and pay for it. They never were. I started Nurse's Training in the 1970's. It was made clear to me that my parents were not obligated to pay for anything. I lived in Ohio and was considered an adult.
This yr when I renewed my nursing license, there was a $7 mandatory fee for the student loan forgiveness program included in the price of my renewal fee 🧐
When I read michellelynn530's comment, I had to look it up. In FL, they charge a licensure fee that's applied to helping to finance nurses with student loans to work in places where there are critical shortages. As a side note, in some states your professional license, and even your driver's license, can be suspended if you fall behind on student loans.
@@dutchray8880 As an RN for 20+ years currently working on my bachelors degree, I can understand DL suspension for defaulting on SL's. You can have it suspended for a variety of reasons and you just have to figure out another way to get to work aa a result. What I don't get is the rationale for suspending the professional license. If u cant work, you cant pay ur bills much less ur student loans. As a. aside, I am taking 1 class @a time to finish and paying for it. Taking a little longer, but I'll get there debt free.
Don't go to college if you can't afford it. Get a trade (electrical, plumbing, welding) or join the military. Both offer on the job training and no tuition fees. You can always save up and attend college later...
That is good advise for today's youth. Kids these days want nothing to do with jobs that require physical labor. The ones who do get into the trades are going to be very happy they made that decision down the line when there is a huge shortage of skilled workers, as more and more of the older workforce retires.
rcrxjlb my hubby joined the Navy. He now makes 6 figures. We are 33 and paid off 3 vehicles. We also have bought and sold two homes. Currently in our forever home. That statement is true! My husband also will be done with his Bachelor’s degree in April 2020. You can live a great life and be debt free💓
First job out of college, $175K/yr after taxes( company pays ALL living expenses for first two years), That $200K loan is SMALL, in a year and a half its behind you. "Don't go to college if you can't afford it." BAD advice, Should be "Don't go to college if you can't pay it off."
@A Olvaar - you are the .00001% exception. I’m not sure what kind of job you landed out of college, but it’s about 6 times the median salary if you are really pulling in $175K net. And no, you shouldn’t go to college if you can’t afford it. We have over $1 trillion in student loan debt that speaks to this.
There's a big problem though when parents decide to not pay for their children's college. My father made well over six figures a year. After completing the FASFA at 18 years old, the government determined that my father should be paying $50,000 per year towards my schooling. However my father decided that he would not pay for our educations after we were eighteen. This meant that I had to take out student loans for my schooling and couldn't get any Pell Grants or anything like that because my father and my government disagree on who should pay for the schooling. Ultimately I respect that it is my father's money to do with what he will. It is just frustrating that I'm ineligible for most financial aid because the government decided that my father, who did not pay for my schooling, made too much money.
Dave, I understand your point of view but in my opinion you’re mad at the wrong people. In this country, an 18-year old is considered an adult and the parents have zero obligation to that adult. So why is it that we are looking at parents’ incomes to qualifying or disqualifying these kids from receiving pell grants? Be mad at the universities and colleges that are jacking up their fees, tuition, books, if you want to talk about ethics. If colleges were affordable, we wouldn’t need loans and pell grants.
We are looking at parents' incomes because wealthy parents may be paying for their kids while acting like they are unable to, which harms low-income families and students' economic security due to wealthy parents committing welfare fraud. Higher education institutions overcharging does not justify wealthy parents committing welfare fraud. Whether (a) parents' income-level should be used to determine financial aid and (b) higher education institutions are overcharging are both related issues, they are different economic/legal problems. Also, comparing an "independent" 18-year old from a wealthy family to an 18-year old from a low-income family is unrealistic when it comes to financial aid because such aid assumes that recipients are experiencing similar economic disparities (thus the need for the aid), which would not be the case once parents' incomes are considered. Strict financial independence would need to be declared and proven.
Why dont you talk about the ridiculous PRICE of college. College has become a monopoly money making machine and in many instances what courses they teach are useless
Because the average cost of college didn’t go up by much. Yes, prices increased, but if you factor in need based scholarships, it’s pretty much the same. It’s just the rich are paying more and the poor are getting more scholarships. Grad school is different though:
@@flipmaya That isn't even close to being true. I went to a state school from 02-06 and non-resident fees were $21,000 with in-state being $10,000. That same school now charges $45k for out of state and $24k for in-state. Is the education twice as good? Has it cost twice as much to educate students? Why has technology gotten exponentially better and cheaper while education has gotten worse and more expensive?
Johnny Five my rule of thumb is that don’t go to colleges that advertise to you. For profit colleges spend as much money on marketing as their professors, if not more, and they all target lower income people and/or veterans. All for an education that barely pass the requirements.
Spoke to a man with a GED and a trade, he has two businesses, fronted the money for his sister's business so she wouldn't have to break her back working minimum wage, told his dad to quit his job and now the dad is running his other business, getting ready to build his wife's business, the mom takes care of the children, brother is getting into real estate investing, he has a stake in that as well. Brother in law went to college is 60 some thousand in debt not working in his field. Kinda makes you rethink things...
NaturallyNerdeeNicol pretty amazing story and speaks to the financial illiteracy of young people. College is not always worth it. Simply developing a skill that is valuable in the market place is all you need.
That’s why the government should never have gotten into banking; ...and the giving up custody thing isn’t new. I know someone who emancipated her son at the age of 15, unbeknownst to him, to get the the aid - but she wasn’t “wealthy”. I’m surprised they’re just catching on.
I really don’t think forgiven loans should be lumped in with people who don’t pay because the people who get loan forgiveness serve the nation in some way (Doctors, teachers, working at non-profits, etc.) and I feel that is a suitable use of taxpayer money since it benefits ‘we the people’.
Totally agree. No one is forcing you to ACCEPT the maximum you can qualify for. Quit taking out $40,000 a year loans just so you can live the “college experience” and not have to work while in school. Yes, it’s hard to work a job after school - no one said it wasn’t. Quit getting useless degrees that have no return on investment just because the coursework is less intense. If you end up with 60K in school loan debt and leave with a Liberal Arts degree - that’s YOUR fault. I’m sure you had a wonderful time socializing for 4 years. It’s not up to the taxpayers to fund it at no cost to you!
It's time to require colleges to clearly publish their prices in an easy to understand manor. I don't like dumbing down society, but when I was 18 I was clueless.
My mom and my step-dad got married my senior year of high school, after dating for 10+ years. That raised my tuition by 1,000%. My highschool guidance councelor laughed at them when he found out.
As much as I don’t like lotteries, they aren’t a tax on the poor. You don’t have a choice to pay your taxes unless you want to look down a barrel of a gun. You don’t have to play the lottery. No one is forcing you.
I was poor and qualified for these grants, my mom had died when I was young and my dad a small dairy farmer living off about 1000 a month milk check. It was still not enough money to pay for my whole college. When I was in college I saw single woman with babies getting a free ride and this infuriated me. How come they were getting a free ride for making bad choices of getting pregnant before they were finished with school. I tried to make good choices and basically suffered a little for it. I know it was hard for them to juggle kids and school. But still the same I thought it was unfair.
Yeah I found out real quick that because I worked 60 hours a week in the summer and 36 hours a week during high school to save for college I got much less for school. Literally the student works hard and gets less for it. Kinda how it works in this country these days. Joined the military and now looking at finishing my masters in a few months and no student loan debt.
No excuse for this but I think many of us, if we're honest, are gaming some system for our benefit...maybe not this particular one. If not, then kudos for you for strict integrity but that is the struggle for a lot of us to maintain that high level. I think many may feel if people are getting cheated, as in the insane increase in tuition rates and the decreased relative value of education, then it's fair to game that unethical system. Not sayin it's right, just a reality. Def agree with Dave about the lottery. For those saying simply don't include parent info, here are the criteria for independence "Undergraduate students who are under age 24 as of December 31 of the award year are considered to be dependent for federal student aid purposes unless they are married, have dependents other than a spouse, are an orphan (which is the status these families seem to be rigging), are a veteran or active duty member of the US Armed Forces or satisfy other very limited criteria." However, a student can omit parent information and qualify for unsubsidized loans, the difference being that the student has to pay accrued interest, not the government. This is the route I took way back in '94. Neither me nor my mom (who hung in there just to finish HS) had any clue how to navigate financial aid back then so she she pretty much left it to me. Wish I had the foresight to access the information readily accessible today re college but plugging away paying what I owe (because of life, it took me about 15 years to finish college, hahaha). Rates def ridiculous now compared to those days ($2022/semester vs $11,300/semester for my school).
Dave, the problem is that schools are too expensive... and it’s only gotten worse since all these government loans became available back in the 70s. Same with insurance and the healthcare “industry”.
I am perfectly fine with my tax dollars helping people pay off their college debt. I want a educated society. This is better than my tax dollars going to fight pointless wars or giving it to lazy welfare recipients.
Knew of someone in the 1980s: parents divorced, kid lived with Mom who worked part time and was on assistance. Dad own a car dealership. Full ride need-based scholarship to college.
I was in the same situation when I started college. My dad did everything he could to make things as difficult for my mom as possible. He had no shame in saying that out loud to anyone who would listen to him. They got divorced because he hit her in front of me. He didn't pay child support until my mom got remarried when I was in college. At least my baby brothers got a couple years of child support He cared very little for us. We saw him once a year. He wouldn't even speak to us on the phone because he was afraid it would raise his phone bill. Unless you know that they were getting help from their dad don't assume it was happening. Most of my friend's dad's didn't pay child support either.
@@belindagarza3958 That's a great point. I knew friends in that situation too - parent(s) that could help but refused to do so. Person I mentioned above went to work for dad right after college.
HOPE scholarship. 2 minutes after he mentioned it I realized how such a good name it is. Those ppl who dont understand that they're not gonna win but they HOPE they do. So the HOPE money is used on people who are trying to actually (ideally anyway) improve their lives the right way or at least a way.
Just a thought, what if colleges averge the free tuition into reduction for everyone, making everyone paying less, seems more ''fair'' to me. I mean technically most college students are adults and most middle class families don't pay for their kids' tuitions, they carry the student loan themselves for life.
This isn't a comment on the specific cases he is talking about, but I did want to say that it feels like the current system disincentivizes saving for college. I don't think that was the initial intention, but I guess that is what we get with more taxpayer funded bureaucracy.
I went to school debt free in TN on scholarships, which included getting the HOPE scholarship and the additional bonuses they threw in if you kept up your GPA. It was a point of pride for me that I didn't take out loans to get my degree but it is disheartening to think that I was able to do so partly as a result of people's misplaced hopes of one day winning the lottery.
Seniors do this all the time in CA to get into senior housing. They have to be identified as low income or under a medium income so give their assets to their adult kids to qualify. Same thing with families getting section 8 low income housing you can’t have any money in savings and need to be under a medium income to qualify. But that does not stop people from hiding assets or doing sneaky things to qualify. Happens more than you think.
It’s probably because the parents are “wealthy” on paper they have a good income they’re blowing it all in lifestyle and end up no really having money for college. That’s the only way it makes sense. Like the person complaining about not qualifying for welfare because they own a boat
It makes me angry that the politicians are calling their plan “cancel student loan debt”. They need to call it “student loan debt transfer to the tax payer” How will transferring student loan debt fix the problem for the long term? It doesn’t Let’s fix the problem by no longer backing loans to private schools. If you can’t afford it go to a community college or state university. Let’s fix the problem by lowering the interest rates which are double of a mortgage rate. Let’s fix it by making the loans simple interest not compound...
How are these people crooks? When you are 18 you’re an adult...get out on your own and pay for school on your own. If you qualify for a pell grant, take it. You’d be stupid not to. It’s not your parents job to take care of you after 18! I joined the military at 18, left the house and got a pell grant. Were my parents supposed to be burdened with my tuition? This prolonged adolescence being promoted by our society is ridiculous....& manufactured by the banking system to strap middle class families with student loans.
This is why govt handouts are useless. Limitations in general are useless. Not only are they unfair, people will think outside the box to still get what they want, encouraging things like black markets, offshore accts and, well, this. Love how college is somehow worth it but not your own money. Which is it? College is worth the investment or it isn't. If you are smart enough to make it thru college, you are smart enough to figure out how to pay for it.
I guess I see this differently, these are not minors, they are adults, so why does the government assume anyone else is paying for their college? I was 18 and poor when I got married, so that's the same thing when applying for grants. You benefit from college, so you should pay for it.
I don't see how money that people are earning and paying to someone else counts as a "drain on the economy." It's not like the universities eat the money. They pay it for goods and services. (admittedly overpriced and often stupid goods and services) it doesn't leave the economy, it just moves from one part to another. Are we admitting that money paid to bankers is less useful to society than money paid for groceries? 'cause I don't know as the GDP measures that. As long as the money keeps moving, "the economy" doesn't care where.
The private college I went to gave me the tools a desire to thrive in my field of study. I've taken away the ability to birth, maintain and refine an idea. Comparing my knowledge before and after college is night and day. I would do it all over again in a heartbeat.
@@joerogan2317 No. Not those BS (Bachelor's of science) degree in nursing or other health care degrees are really in demand. Nursing is the best, if you can handle the work.
If poor folks qualify then discriminating against rich folks is not fair especially since rich folks pay most of the taxes that finance the poor. It's the wealth redistribution that's wrong and not wanting to be unfairly discriminated against because of having more income than someone else. Also , why should a parent's income be considered when the child is already a legal adult?
@@bribecq you want to give kids healthcare on their parents plan until age 25? then yes, they do pay. every rich kid in america can say they have zero income and get free college according to you
In my State, if you adopt a child after their 16th birthday, they get free college, regardless of parents income. this is not a poor people program, it's an adopted child program.
My parents signed a waiver for me to join the National Guard at 17. I guess they lost custody of me too lol, but hey...free undergrad. Then I went Active Duty...free law school. Boom. 168th view haha.
Any body can go to school with out being in absurd amount of debt, my parents didn't give me any money, I worked full time and lived on my own. I spent a total of 40k on my tuition with out taking loans or getting an grants or scholarships. I did take a year off to save money. Worked extra on weekend and breaks saved every penny to pay for school while having bills and a car payment.
NowTennessee will send anyone in the state to two year college or tech school for free. There are extra requirements like a gpa level and community service. But it is lottery driven. I think if they are going to do the lottery thing then that’s how they need to do it. As anyone regardless of age can go and any income bracket
College is OPTIONAL, as necessary as some may feel it is. People complain about student loan debt but no one is forcing you to borrow money. Once you do, that's your problem not the tax payers. Go to a cheaper school and work your way through. With these prices nowadays, you will spend thousands of dollars for a degree on the hopes that you get a good job that won't pay off the debt for at least 30 years. Where is the benefit? People complain like it's someone else's fault that they owe money they borrowed in the first place. It's ridiculous and irresponsible.
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College now literally costs you your first born child...
Lol
Well sallie mae, rumplestiltskin.
Not if you go to an affordable college, like one of the public colleges in Utah. I am soon to graduate with no debt and no help from parents.
Considering the lengths people go to trick parents into sign over there 1st borns & as a 1st born myself, I sometimes worry about what happens to me if someone manages to trick my parents into signing me over.
Lol!
The middle class is suffering because they aren’t able to afford college, but make to much to qualify for federal student aid.
Yup being middle class sucks. Too rich to get any government benefits and too poor to buy them ourselves
We're in a recession man were the middle class and poor class can't afford anything.
I couldn't afford a one-bedroom but made too much for a two-bedroom in low income housing.
Question what is the average net worth of a middle class person ?
Absolutely
As a child that lost their parents at 16 and was only able to go to college because the college supported me when I filed as an independent, hearing people take advantage of these systems put in place for kids with no homes and no families is disgusting
Rich people taking advantage of scummy loopholes? NO WAY............
Johnny Five BECAUSE IT’S NOT RIGHT. We’ve seen it all before with Rockefeller & Carnegie & in many of the crooks that have unfairly got rich in this world. It’s greedy and inconsiderate. That’s why.
Lol
Legal doesn’t always mean right.
The Irony
Nicks Kicks it’s still scummy to take money from people who need it more
I worked two jobs to pay off my student loans. I lived a very basic life, even taking the city bus, instead of owning a car. I paid my student loans off because I made a promise to the government when I got the loans. It's called being a responsible adult.
AMEN!
What kind of jobs?
And the government made plenty of promises to you that you can bet they won’t keep. It’s called responsible government...
@@JK20239 working at a computer lab working as a college recruiter, and being a fundraiser and college recruiter. I worked 60- 80hours a week.
longlocks40 I’m going into school again soon. Do you know any easy part time jobs that I can do on the weekend?
When I went to college, my parents made enough that I couldn't get financial aid. Normally I understand, but in my case, I had been out of the house on my own for a year and a half, paying my own bills, but still had to put them down. So I made $9/hr while my parents made plenty, but I was judged on their income. Not saying that is what is happening here, but let's not judge every case as the same.
Jordan Trae i property won’t qualify for financial aid so I may just be like you having to work during school
Nothing wrong with working during school
Wealthy people have been doing stuff like this for years. How is this any different?
Like the "perfectly legal" backdoor IRA tax loopholes Dave and his wife take every year.
@@abracap0cus sounds smart to me.
@abracap0cus - when the wealthy are taxed at 95%, would that suit you? Why don’t you appoint yourself the individual who gets to decide how much everyone is allowed to have. We’ll build a statue of you right next to Carl Marx.
Parents are not legally bound to send their children to college and pay for it. They never were. I started Nurse's Training in the 1970's. It was made clear to me that my parents were not obligated to pay for anything. I lived in Ohio and was considered an adult.
This yr when I renewed my nursing license, there was a $7 mandatory fee for the student loan forgiveness program included in the price of my renewal fee 🧐
What this is the first I have heard of this😣
Why do you have a loan to be a nurse!? Doesn't cost that much! We are paying for my wife's schooling, by working to pay for it!
When I read michellelynn530's comment, I had to look it up. In FL, they charge a licensure fee that's applied to helping to finance nurses with student loans to work in places where there are critical shortages. As a side note, in some states your professional license, and even your driver's license, can be suspended if you fall behind on student loans.
@@dutchray8880 As an RN for 20+ years currently working on my bachelors degree, I can understand DL suspension for defaulting on SL's. You can have it suspended for a variety of reasons and you just have to figure out another way to get to work aa a result. What I don't get is the rationale for suspending the professional license. If u cant work, you cant pay ur bills much less ur student loans. As a. aside, I am taking 1 class @a time to finish and paying for it. Taking a little longer, but I'll get there debt free.
Don't go to college if you can't afford it.
Get a trade (electrical, plumbing, welding) or join the military.
Both offer on the job training and no tuition fees.
You can always save up and attend college later...
That is good advise for today's youth. Kids these days want nothing to do with jobs that require physical labor. The ones who do get into the trades are going to be very happy they made that decision down the line when there is a huge shortage of skilled workers, as more and more of the older workforce retires.
rcrxjlb my hubby joined the Navy. He now makes 6 figures. We are 33 and paid off 3 vehicles. We also have bought and sold two homes. Currently in our forever home. That statement is true! My husband also will be done with his Bachelor’s degree in April 2020. You can live a great life and be debt free💓
First job out of college, $175K/yr after taxes( company pays ALL living expenses for first two years), That $200K loan is SMALL, in a year and a half its behind you.
"Don't go to college if you can't afford it." BAD advice, Should be "Don't go to college if you can't pay it off."
@A Olvaar - you are the .00001% exception. I’m not sure what kind of job you landed out of college, but it’s about 6 times the median salary if you are really pulling in $175K net. And no, you shouldn’t go to college if you can’t afford it. We have over $1 trillion in student loan debt that speaks to this.
Then you end up with a doctor shortage because all the smart people were too poor for med school. But at least you have a lot of welders.
I love how much the editing team and filming team has worked. You can see the improved quality over the course of time.
There's a big problem though when parents decide to not pay for their children's college.
My father made well over six figures a year. After completing the FASFA at 18 years old, the government determined that my father should be paying $50,000 per year towards my schooling. However my father decided that he would not pay for our educations after we were eighteen. This meant that I had to take out student loans for my schooling and couldn't get any Pell Grants or anything like that because my father and my government disagree on who should pay for the schooling.
Ultimately I respect that it is my father's money to do with what he will. It is just frustrating that I'm ineligible for most financial aid because the government decided that my father, who did not pay for my schooling, made too much money.
Dave, I understand your point of view but in my opinion you’re mad at the wrong people. In this country, an 18-year old is considered an adult and the parents have zero obligation to that adult. So why is it that we are looking at parents’ incomes to qualifying or disqualifying these kids from receiving pell grants?
Be mad at the universities and colleges that are jacking up their fees, tuition, books, if you want to talk about ethics. If colleges were affordable, we wouldn’t need loans and pell grants.
Agreed. My wife and I plan on paying for our kids college, but our income shouldn’t effect my child’s future if we refused to pay for it.
elmagnificodep exactly!
Thank you. These are adults. You can't have custody of an adult.
We are looking at parents' incomes because wealthy parents may be paying for their kids while acting like they are unable to, which harms low-income families and students' economic security due to wealthy parents committing welfare fraud.
Higher education institutions overcharging does not justify wealthy parents committing welfare fraud. Whether (a) parents' income-level should be used to determine financial aid and (b) higher education institutions are overcharging are both related issues, they are different economic/legal problems.
Also, comparing an "independent" 18-year old from a wealthy family to an 18-year old from a low-income family is unrealistic when it comes to financial aid because such aid assumes that recipients are experiencing similar economic disparities (thus the need for the aid), which would not be the case once parents' incomes are considered. Strict financial independence would need to be declared and proven.
pimaggot maybe I should call and ask Dave himself lol
Why dont you talk about the ridiculous PRICE of college. College has become a monopoly money making machine and in many instances what courses they teach are useless
Because the average cost of college didn’t go up by much. Yes, prices increased, but if you factor in need based scholarships, it’s pretty much the same.
It’s just the rich are paying more and the poor are getting more scholarships.
Grad school is different though:
He talks about this very thing in other videos
@@flipmaya That isn't even close to being true. I went to a state school from 02-06 and non-resident fees were $21,000 with in-state being $10,000. That same school now charges $45k for out of state and $24k for in-state. Is the education twice as good? Has it cost twice as much to educate students? Why has technology gotten exponentially better and cheaper while education has gotten worse and more expensive?
Timothy Rosman you’re not understanding what I wrote. Re-read it, google it, then come back.
@@flipmaya You said the average cost of college hasn't gone up by much and that is a complete farce.
Two were hollywood elites. The vast majority were businessmen, bankers, CEOs, etc...
Bankers are never criminals.
KJ Tha 5 1 and they’ll throw the actresses under the bus (the media bus) so nobody focuses on them 😂
Not surprised!! The rich want to stay rich.
Colleges are a business, exams and tests are just fake hopes for the poor
Don't blame the players, blame the game
@ITHEREONETHATHASNT I'll do this with my children
Stealing isn't playing a game
With an increase in price we should be seeing a decrease in quantity demanded... but people are still signing up for college.
That’s because only the govt would loan tens of thousands of dollars to a teenager with no collateral. What you subsidize, you get more of
Johnny Five my rule of thumb is that don’t go to colleges that advertise to you. For profit colleges spend as much money on marketing as their professors, if not more, and they all target lower income people and/or veterans. All for an education that barely pass the requirements.
Spoke to a man with a GED and a trade, he has two businesses, fronted the money for his sister's business so she wouldn't have to break her back working minimum wage, told his dad to quit his job and now the dad is running his other business, getting ready to build his wife's business, the mom takes care of the children, brother is getting into real estate investing, he has a stake in that as well. Brother in law went to college is 60 some thousand in debt not working in his field. Kinda makes you rethink things...
NaturallyNerdeeNicol pretty amazing story and speaks to the financial illiteracy of young people. College is not always worth it. Simply developing a skill that is valuable in the market place is all you need.
👍🏽
Yep, rich people always find ways of not paying for things, that's how they stay rich...
That’s why the government should never have gotten into banking;
...and the giving up custody thing isn’t new. I know someone who emancipated her son at the age of 15, unbeknownst to him, to get the the aid - but she wasn’t “wealthy”. I’m surprised they’re just catching on.
Bami Fun I’m not mad at the parents for doing this honestly
UnspecificallySarah Lol! And I’m
Not mad if your parents deed over the house so they don’t lose it to the nursing home.🌺
Sorry Timmy but dad and I are willing to give you up for 50k lol so sad
I really don’t think forgiven loans should be lumped in with people who don’t pay because the people who get loan forgiveness serve the nation in some way (Doctors, teachers, working at non-profits, etc.) and I feel that is a suitable use of taxpayer money since it benefits ‘we the people’.
Totally agree. No one is forcing you to ACCEPT the maximum you can qualify for. Quit taking out $40,000 a year loans just so you can live the “college experience” and not have to work while in school. Yes, it’s hard to work a job after school - no one said it wasn’t. Quit getting useless degrees that have no return on investment just because the coursework is less intense. If you end up with 60K in school loan debt and leave with a Liberal Arts degree - that’s YOUR fault. I’m sure you had a wonderful time socializing for 4 years. It’s not up to the taxpayers to fund it at no cost to you!
It's time to require colleges to clearly publish their prices in an easy to understand manor. I don't like dumbing down society, but when I was 18 I was clueless.
No one talks about the prices of college rising!
My mom and my step-dad got married my senior year of high school, after dating for 10+ years. That raised my tuition by 1,000%. My highschool guidance councelor laughed at them when he found out.
As much as I don’t like lotteries, they aren’t a tax on the poor. You don’t have a choice to pay your taxes unless you want to look down a barrel of a gun. You don’t have to play the lottery. No one is forcing you.
Not a tax, but like a tax. On people not smart enough to know they can't win
"I'm afraid if I get a job I don't qualify for welfare " 😅😂😅😂😅. Legit no one thinks about the fact that free means someone else paid for it.
Played this video without headphones in public for others to hear . 🤣
I was poor and qualified for these grants, my mom had died when I was young and my dad a small dairy farmer living off about 1000 a month milk check. It was still not enough money to pay for my whole college. When I was in college I saw single woman with babies getting a free ride and this infuriated me. How come they were getting a free ride for making bad choices of getting pregnant before they were finished with school. I tried to make good choices and basically suffered a little for it. I know it was hard for them to juggle kids and school. But still the same I thought it was unfair.
Yeah I found out real quick that because I worked 60 hours a week in the summer and 36 hours a week during high school to save for college I got much less for school. Literally the student works hard and gets less for it. Kinda how it works in this country these days. Joined the military and now looking at finishing my masters in a few months and no student loan debt.
Amen Dave! Thank you for calling out elitism! The grants are for poor people 💯
Go to a 2 year college and figure out what you want to do. Or become a tradesman.
"It's just another handful", The only handful that got caught. How many didn't or wont be in the future?
Social workers tell you to get rid of assets to get medicaid. It is very common. Families do it all the time for nursing homes.
rocky mountain lass 😕
Medicaid is based on income
@@georgewagner7787 Yes, you need to spend down the assets to qualify for medicaid.
College is a racket...
We should be cutting off loans for everyone. The loans are the problem
Ajay Pasricha alcohol doesn’t crash cars people do.
Plebian Bargain Bad analogy. This is more like a parent giving their 15 year and endless supply of alcohol and hoping everything ends up ok.
Loans not the problem, paying it back with INTEREST is
No excuse for this but I think many of us, if we're honest, are gaming some system for our benefit...maybe not this particular one. If not, then kudos for you for strict integrity but that is the struggle for a lot of us to maintain that high level. I think many may feel if people are getting cheated, as in the insane increase in tuition rates and the decreased relative value of education, then it's fair to game that unethical system. Not sayin it's right, just a reality.
Def agree with Dave about the lottery.
For those saying simply don't include parent info, here are the criteria for independence "Undergraduate students who are under age 24 as of December 31 of the award year are considered to be dependent for federal student aid purposes unless they are married, have dependents other than a spouse, are an orphan (which is the status these families seem to be rigging), are a veteran or active duty member of the US Armed Forces or satisfy other very limited criteria." However, a student can omit parent information and qualify for unsubsidized loans, the difference being that the student has to pay accrued interest, not the government. This is the route I took way back in '94. Neither me nor my mom (who hung in there just to finish HS) had any clue how to navigate financial aid back then so she she pretty much left it to me. Wish I had the foresight to access the information readily accessible today re college but plugging away paying what I owe (because of life, it took me about 15 years to finish college, hahaha). Rates def ridiculous now compared to those days ($2022/semester vs $11,300/semester for my school).
I love you Dave Ramsey! For your healthy critics !
if your middle class this is the hustle....
Dave, the problem is that schools are too expensive... and it’s only gotten worse since all these government loans became available back in the 70s. Same with insurance and the healthcare “industry”.
I am perfectly fine with my tax dollars helping people pay off their college debt. I want a educated society. This is better than my tax dollars going to fight pointless wars or giving it to lazy welfare recipients.
Those expensive Lesbian Dance Theory and Art degrees are really a boon to the economy
Knew of someone in the 1980s: parents divorced, kid lived with Mom who worked part time and was on assistance. Dad own a car dealership. Full ride need-based scholarship to college.
I was in the same situation when I started college. My dad did everything he could to make things as difficult for my mom as possible. He had no shame in saying that out loud to anyone who would listen to him. They got divorced because he hit her in front of me. He didn't pay child support until my mom got remarried when I was in college. At least my baby brothers got a couple years of child support He cared very little for us. We saw him once a year. He wouldn't even speak to us on the phone because he was afraid it would raise his phone bill. Unless you know that they were getting help from their dad don't assume it was happening. Most of my friend's dad's didn't pay child support either.
@@belindagarza3958 That's a great point. I knew friends in that situation too - parent(s) that could help but refused to do so. Person I mentioned above went to work for dad right after college.
Those were lousy parents. You deserved better
Sounds like lawyers were involved in planning a scheme like this.
All four of Al Gores kids graduated from
Harvard. LoL.
HOPE scholarship. 2 minutes after he mentioned it I realized how such a good name it is. Those ppl who dont understand that they're not gonna win but they HOPE they do. So the HOPE money is used on people who are trying to actually (ideally anyway) improve their lives the right way or at least a way.
Just a thought, what if colleges averge the free tuition into reduction for everyone, making everyone paying less, seems more ''fair'' to me. I mean technically most college students are adults and most middle class families don't pay for their kids' tuitions, they carry the student loan themselves for life.
This isn't a comment on the specific cases he is talking about, but I did want to say that it feels like the current system disincentivizes saving for college. I don't think that was the initial intention, but I guess that is what we get with more taxpayer funded bureaucracy.
When it cost 80k to go to a public university I'm not surprised.
I went to school debt free in TN on scholarships, which included getting the HOPE scholarship and the additional bonuses they threw in if you kept up your GPA. It was a point of pride for me that I didn't take out loans to get my degree but it is disheartening to think that I was able to do so partly as a result of people's misplaced hopes of one day winning the lottery.
I went to prep school. I have definitely heard of this before. Kids would "divorce" their parents.
5/30/20....There was a movie about it in the mid 80s I think.
I like the old studio better seemed more personalized
He's the new Alex Jones!
I think that students should be emancipated from their parents at 18. My family was dirt poor and I got less aid due to being audited every year.
It’s more than dozens Dave.
In health care or education, the free market system just doesn't work.
Seniors do this all the time in CA to get into senior housing. They have to be identified as low income or under a medium income so give their assets to their adult kids to qualify. Same thing with families getting section 8 low income housing you can’t have any money in savings and need to be under a medium income to qualify. But that does not stop people from hiding assets or doing sneaky things to qualify. Happens more than you think.
Thats the Chicago way! (Say it like Sean Connery in The Untouchables)
It’s probably because the parents are “wealthy” on paper they have a good income they’re blowing it all in lifestyle and end up no really having money for college. That’s the only way it makes sense. Like the person complaining about not qualifying for welfare because they own a boat
Parents shouldn’t be responsible in pay for college in first place. Most people pay for their own college
If you borrow money, you should pay it back!! This is nobody's fault but your own! If you borrow money you need to pay it back!!
Oh well. Life's all about finding loop holes!
🤣🤣🤣🤣
It makes me angry that the politicians are calling their plan “cancel student loan debt”. They need to call it “student loan debt transfer to the tax payer”
How will transferring student loan debt fix the problem for the long term? It doesn’t
Let’s fix the problem by no longer backing loans to private schools. If you can’t afford it go to a community college or state university. Let’s fix the problem by lowering the interest rates which are double of a mortgage rate. Let’s fix it by making the loans simple interest not compound...
If other developed countries are able to do it why cant we?
I betI haven't spent $10 on lottery tickets in my entire life...it is a fool's game.
If you are 18 in the states eyes you are an adult.
Parents income does not matter, many parents that are well off do not pay for a childs education.
The problem started when financial aid began. Get rid of financial aid and the problem goes away too.
How are these people crooks? When you are 18 you’re an adult...get out on your own and pay for school on your own. If you qualify for a pell grant, take it. You’d be stupid not to. It’s not your parents job to take care of you after 18! I joined the military at 18, left the house and got a pell grant. Were my parents supposed to be burdened with my tuition? This prolonged adolescence being promoted by our society is ridiculous....& manufactured by the banking system to strap middle class families with student loans.
I had this loophole but it wasn’t intentional. My parents made the decision before I was born.
Do people go to jail if they are caught doing welfare fraud or other financial fraud? Now that would show em
My husband and I went into the military and we are both giving our GI Bills to our daughter…a different route but an idea for others too*
This is why govt handouts are useless. Limitations in general are useless. Not only are they unfair, people will think outside the box to still get what they want, encouraging things like black markets, offshore accts and, well, this. Love how college is somehow worth it but not your own money. Which is it? College is worth the investment or it isn't. If you are smart enough to make it thru college, you are smart enough to figure out how to pay for it.
I guess I see this differently, these are not minors, they are adults, so why does the government assume anyone else is paying for their college? I was 18 and poor when I got married, so that's the same thing when applying for grants. You benefit from college, so you should pay for it.
Well said Dave. Well said
So if an 18 year old wanted to be independent and the parents filed him as independent, what's wrong with that? Its legal
Actually it's the way is should be.
There are a list of exemptions that make you an independent otherwise too bad so sad.
This isn't 18 year olds, it's parents giving up custody, which involves minor children.
What's wrong is they are taking money designated for people that can't afford college. But they already can.
Read Kaylees comment below
A lot of middle class people just don’t save for their kids college.
Remember kids a 4 year college is completely necessary
Java Jav Start your own Amazon fulfillment
Don't hate the player. Hate the game!
I don't see how money that people are earning and paying to someone else counts as a "drain on the economy."
It's not like the universities eat the money. They pay it for goods and services. (admittedly overpriced and often stupid goods and services) it doesn't leave the economy, it just moves from one part to another. Are we admitting that money paid to bankers is less useful to society than money paid for groceries? 'cause I don't know as the GDP measures that. As long as the money keeps moving, "the economy" doesn't care where.
The private college I went to gave me the tools a desire to thrive in my field of study. I've taken away the ability to birth, maintain and refine an idea. Comparing my knowledge before and after college is night and day. I would do it all over again in a heartbeat.
Go to trade school or study for a BS degree in something skillful like nursing, PT, OT...
Stop getting dumb degrees.
What about women’s studies? Good major for a job? Also thing of basket weaving.
@@joerogan2317
No. Not those
BS (Bachelor's of science) degree in nursing or other health care degrees are really in demand. Nursing is the best, if you can handle the work.
This happens alot at HBCUs, I thought this was common?
Really?
Lol this is so crazy! How do people come up with these schemes? SMH!
Maybe dont go to an expensive college
but then how will they join Skull & Bones?
If poor folks qualify then discriminating against rich folks is not fair especially since rich folks pay most of the taxes that finance the poor. It's the wealth redistribution that's wrong and not wanting to be unfairly discriminated against because of having more income than someone else. Also , why should a parent's income be considered when the child is already a legal adult?
It is wrong for people to abuse the system, but also it is wrong that these kind of things exist in ghe first place.
So work to fix the system
Brett Wislon from shark tank openly admitted his daughter applied for a scholarship, so much for philanthropy...
really?! where can I go to get my student loans forgiven and refunded?
Who has custody does not matter, if you have one rich parent you can't get free college
johnmonk66 the parent isn’t obligated to pay just because they are rich.
@@bribecq you want to give kids healthcare on their parents plan until age 25? then yes, they do pay. every rich kid in america can say they have zero income and get free college according to you
Or... they can have their own healthcare plan?
@@bribecq how? if they have a job and can afford health care then they can afford college
In my State, if you adopt a child after their 16th birthday, they get free college, regardless of parents income.
this is not a poor people program, it's an adopted child program.
I learned what Dave thinks of Chicago. 😀
My parents signed a waiver for me to join the National Guard at 17. I guess they lost custody of me too lol, but hey...free undergrad. Then I went Active Duty...free law school. Boom. 168th view haha.
scammer
@@modap3000 really hope you are being sarcastic
@@SJ-bm3hr thank you for your service , it's appreciated
Any body can go to school with out being in absurd amount of debt, my parents didn't give me any money, I worked full time and lived on my own. I spent a total of 40k on my tuition with out taking loans or getting an grants or scholarships. I did take a year off to save money. Worked extra on weekend and breaks saved every penny to pay for school while having bills and a car payment.
Man! Why didnt my parents think of this... Rich people find legal ways to avoid paying taxes. What's the difference?
NowTennessee will send anyone in the state to two year college or tech school for free. There are extra requirements like a gpa level and community service. But it is lottery driven. I think if they are going to do the lottery thing then that’s how they need to do it. As anyone regardless of age can go and any income bracket
It's not fraud there's no legal statue that says they can't do this, but morally it's questionable.
Dave: BREAKING NEWS IT'S 2021 NOT 1955
The social security goes to Nursing homes.
College is OPTIONAL, as necessary as some may feel it is. People complain about student loan debt but no one is forcing you to borrow money. Once you do, that's your problem not the tax payers. Go to a cheaper school and work your way through. With these prices nowadays, you will spend thousands of dollars for a degree on the hopes that you get a good job that won't pay off the debt for at least 30 years. Where is the benefit? People complain like it's someone else's fault that they owe money they borrowed in the first place. It's ridiculous and irresponsible.
This tactic is wonderful. I need to tell my friends. This is very ethical. College financial aid applications are Unethical
So two wrongs make a right now? Better take an ethics class in college. Or maybe math
Chicago is a wonderful place. Ease up!
This is not fraud if the kid lives with the new guardian.
Like everything, stop increasing taxes and close loopholes. It's not a democrat or republican issue. Both parties are guilty.