The WORST Financial Situation Caleb Hammer Has Ever Seen (Sad)
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- เผยแพร่เมื่อ 21 ต.ค. 2023
- Video From ► “This Keeps 99% Of People Broke!” How To Get Rich - Caleb Hammer
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$150 000 loan to study SOCIAL WORK? This is a scam that needs to end.
Don't blame the school, blame the people who choose degrees without spending 10 minutes of research. There's people who would love to become social workers and will pay out of pocket to go to school while they work.
Often includes accomodation and living expenses
@@RealEstateBaby the schools hold some blame for this predatory pricing. It does not cost $150000K to teach someone how to be a social worker. They are complacent in this epidemic of debt slavery.
Yes, we need to start blaming the schools.
@@kimberleyhunter6815 no. She made the choice. She was a legal adult. She is to blame.
I remember the episode he’s talking about, the womens mother died suddenly when she was a child and left her daughter money earmarked for her education and the father was the steward of the money until she became of age. The father, knowing he already blew all the money, insisted she take out loans for a top private school. The dad is a walking disaster and the daughter had to learn the hard way!
What an asshole. That is messed up.
Damn thats messed up
Gads, I wonder if she can sue him for fiduciary misconduct for the trust funds. She may not get anything now, but hopefully could cease assets or garnish wages. Seriously, who does this to their own child?!
@@500dollarjapanesetoaster8 there’s that, but you could just tell the women was just crushed that her dad did this to her, like the $250k was second to losing your only living parent! It was just extremely sad!!
Wonder what he spent it on?? Mmmmm probably had a blast, women, booze, drugs, gambling and penthouse suite. Ya really can't blame him.
"I hate when I care more about their situation than they do."
You nailed that one! That's not a good headspace to be in. It's infuriating and depressing. It took a long time for me to break the habit I made of it. Caring people fall into that trap A LOT!
I'm an attorney and this happens a lot in my profession too.
@@greencondoresqI can only imagine.
Most of these kids have stopped caring because their situstion is hopeless, it burns you out. And most of the guests that come on eventually start caring again when the info settles in and they can see a way out of their mess.
A lot of people are too disempowered to go on or yes, to care.
I worry about this as I am becoming a nurse practitioner 😢 I developed the habit from my family situation- they don't have a single care about their physical health and are becoming disabled because of it
I don’t think he is mean. He just understands people won’t take their situation serious if he sugar coats everything if he handles them with gloves.
Believe me. This is the only way to get through to people who currently say they are fixing themselves after years and years of self neglect. These people need nothing short of divine intervention.
Speaking as a financial adviser you are 100% spot on. If you try to sugar coat it people can misunderstand you. You need to be direct about someone's situation so that there is no misunderstanding. Otherwise, they may not take the action needed to corse correct.
he's disrespectful to women in his thumbnails
@@islakayhow?
Just woman thing always become victim, i saw some thumbnail, man thumbnail is same as woman@@adamcaretta4715
When my wife was going to nursing school, the local hospital paid her tuition because they needed nurses so badly. We need more of these type of arrangements. Airlines are so desperate for pilots they’re awarding them huge bonuses to sign on which they use to pay off student loans.
those are "degrading positions" tho..
@@es2kaaay908
A pilot is a degrading position? Nurses Is a degrading position? I don’t think you know what degrading is. Amazon warehouse workers would like a word with you.
I see you've overlooked my quotations. I am of the belief that any work is honest work.
Although, it does take a special type of person to be a nurse specifically, or anyone who deals with the public.(Without ending up hating people)
It'd be ignorant to not at least acknowledge that, there are some bad apples that make these types of jobs miserable at times. As for a pilot, it was my mistake. I read airlines and assumed hostess jobs. Also, AMZ is a Pandora's box of controversy. @@nawab256
@@es2kaaay908Degrading????? Such a sickening comment, especially when nurses sacrificed a lot including their own lives, during the pandemic. You should evaluate your ignorant and feeble mind! I hope that you would never ever need a nurse for your self or someone you love, with that downright condescending mind!
Fat chance you would get any hospital to pay that nowadays. A society that puts profits over people will NEVER do something like that
“Not every single college in the United States needs to offer a music degree or art degree” is a fantastic point
Me and my worthless music BA completely agree lol
It would, but that sounds like a hobby and not a financial decision. Going to a couple courses for music theory in community college makes sense. Taking out a 6 figure loan for music isn’t altogether advisable.
@@shajeedislam1181 Fortunately no 6-figure debt!! Only 9K left Lol But my music school was just small and not well-equipped to prepare musicians. Plus I had no idea what I wanted then. Music school is great if it's actually a good school and students are well aware of the tough career they're entering.
@@shajeedislam1181 Very good points. 👍
"You wasted $150,000 on an education you coulda got for $1.50 in late fees at the public library."
I knew it, Caleb definitely helps people after the episode even if he doesn’t say it. He seems like such a good caring dude.
He does say it a few times though. I knew it just from watching the last 3 episodes
He's said it in a few episodes. There was that one dude who was addicted to drugs, Caleb said if he made it through the treatment program Caleb would help him pay something off.
He exploits peoples horrible financial hardships for money. That's the least he can do.
@@christianjames92, Doctors exploit people's health problems.
Lawyers exploit people legal problems.
Farmers exploit people's need to eat...
Lol.
The only way to stop the "exploitation" is to go back to the stone age.
He runs a pillory show for clicks. He’s not a “good guy.” He’s a parasite.
The removal of sfudent loans from bankruptcy protection was removed by Bush Jr. by the way. But he still allowed businesses to renegotiate pension obligations by businesses. You can thank him and folks like him.
I’m no fan of Bush, but you are incorrect. Student loans have been nondischargeable under the US Bankruptcy code since the late 1970s.
End federally backed student loans. Academia is a huge scam.
The problem is almost everyone would file bankruptcy. You have nothing a bankruptcy destroys when you’re 22. Very little cons to a situation like that
@@calebprice7896 that's actually not true. In 1976, student loans were excepted from bankruptcy if there had been repayment history of at least 5 years OR it represented an undue hardship. That was changed in 1990 to 7 years. In 1998 students were unable to discharge student loans after 7 years unless they can demonstrate an undie hardahip. That was changed under Bush Jr in 2005 that removed student loans from bankruptcy discharge altogether.
The point is that there is a demonstrated history of the economic system NOT falling apart when students were allowed to discharge their debts in bankruptcy if they can demonstrate an "undue hardship". So no, a 22 y/o cannot discharge their student loans but in the past a 27-28 y/o could. That is roughly the time that corrwsponds to people settling down and starting families.
What I do not hear is similar outrage about businesses who are allowed to "renegotiate" their pension obligatio s in bankruptcy, but all kinds of hoopla when it comes to it for regular people. Just look into what United did to their workers. THAT'S where the outrage should be, but instead, all I hear about is the "moral hazard" when it applies to regular people.
@@gobot4455 I appreciate the due diligence!
Everyone saying don’t blame the schools is deliberately blinding themselves. No, the schools are not to blame for the individual situations these people are in, but the schools are to blame for building a system that overcharges for education and ultimately leads to less people in workforces we desperately need.
Exactly. Companies complain about skill shortages but some people who could do the job or get the degree are financially bared from ever trying.
The schools didn’t build the system, the government did.
Blame the college administrators. They're the ones taking in all the money.
The issue is that the schools know the degrees like art, music, social work, etc are bullshit degrees with next to no job prospects in them but they still collect that fat tuition check. There needs to be a mandate that cuts down the degrees a school hands out and more education at the high-school level on the realities of choosing degrees. There also needs to be a come back of high-schools having trade programs. Not everyone is built for college.
@@christianjames92 There is no way enough people ruin their lives by getting music degrees every year that we need to legislate a solution for it. Also, your problem isn’t with schools, it’s the federal government. Educational loans are not allowed to be defaulted on, so loan companies and banks are incentivized to give loans to people with no clear goal to repay the debt because they will be under it for life regardless. I’d you could absolve responsibility for these loans by declaring bankruptcy no bank in their right mind would ever fund these low earning potential degrees in the first place and most universities would drop those unprofitable programs
I’m sorry that girl is embarrassed to be associated because I think her experience is so important to share. Money lending is a slippery slope that 18 year olds are not prepared for. Financial literacy should be part of primary education curriculum. If you take art classes for 12 years you should also be taught finance.
No because how else is profit going to be generated from idiots ignorance ?? Thats a gravy train no-one is willing to axe
They ARE taught.
Its called mathematics.
This is applied mathematics. It isnt even very fucking hard mathematics.
The worst part of my social work education was that they EXPECTED you to stop working while you were in your internship. There were people that had entire families to feed and they were expected to only focus on school. I worked in a group home for mine and it was one of the worst experiences I've ever had. Which for me says ALOT (I've had many horrific jobs)
I’m a teacher and it was the same for us. We were explicitly told to quit our jobs during student teaching (6 months here). It’s really difficult to manage, and a lot of people are not prepared/are warned for it.
I’m really glad I saw this because I’ve been considering going to school for social work but I definitely couldn’t make it financially if I couldn’t work
@@chayaorit1437I came here to say the same thing! And student teaching is unpaid 😬 we were told we'd be kicked out of the program if we were found out to have another job.
I just want to say thank you so much for being a social worker. I work in a profession parallel to social workers and they are truly angels. Underappreciated and way underpaid
I don’t know why any nontraditional student would go into social work of all jobs. Just seems like a disaster waiting to happen. It’s nice of them. Don’t get me wrong but terrible job to go into.
On top of that yes, the college is way wrong for expecting anybody to take a non-paid internship or even stopping work. Our local law school even ended that requirement recently.
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan, Caleb this, Caleb that 😂 💕
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
You need to get a financial planner or expert on investments to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
indeed, most people downplay the roles of financial planners until burnt by there mistakes. Productivity is optimized and keeping up to date strategies and analysis makes it more lucrative. I've been able to navigate the volatilities and scaled up 880k from 220k with professional guidance.
No doubt being financially free and not having to worry much about health care and other expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential., who is your professional?
in my case CHRIS RYAN STEWART has assisted me in doing that effectively, I'm not an expert so I lack experience in investment strategies, I work and my consultant handles the rest.
College is expensive but 100% financially worth it if you get a useful degree. The real scam is that finance isnt taught in highschools then your expecting a 17 year old to be able to comprehend college as an investment and not just something your supposed to do.
Yeah if you want to become a doctor or engineer or something similar.
For everything else it is a waste of time and money, you can get a unskilled labor job, do online classes and probably life with your parents.
By age 25 you dont have 50k in debt but 50k in the bank, a much cheaper degree and most important some real world experience.
@@jonasstahl9826 i agree. i tell my daughter i only support her going to college if its for doctor, lawyer, engineer type careers. other than that theres many trade school that are cheap and even trades that will take you on, train you, and pay you very well.
@@jonasstahl9826 a degree doesn’t close doors! So why not?
@@MarcangelloFox It is about lifetime earning. The degree cost you money and time, time means also lost earning because you could have worked earlier.
Lets say you get a degree that cost you 50.000$ and 4 years. Means after 4 years you have 50.000$ of debt.
Starting to work direct after school you maybe make like 30.000$ in an entrylevel job.
After 4 years you have made 120.000$
Means the degree sets you back 170.000$.
Question is does a degree gets you a job where you make 170.000$ more till retirement? (About 4000$ a year).
Now take in to consideration the interest.
50k and 4 years for the degree, you maybe need 3 years to pay of the debt.
Means after 7 years you still have zero $ but a degree.
Working straight out of school you now have 210.000$ lets say you put this in the stockmarket and get 7% interest that would be 14.000$ of passive income.
Now you have to make 18.000$ per year more with a degree than the guy without the degree.
Ofcourse the math only works like that, if you life with your parents and have basicly no cost of living.
But you get the idea the cost of the degree and the lost time sets you back alot when it comes to your lifetime earnings, also not getting a degree gives you 4 years of expierence in the job you have.
I agree finance should be taught in high school but I think saying college is always worth it is a lie. I went to school for elementary education and switched to working for an insurance company bc I just can't afford to survive with medical issues as a teacher. And I started off making the same amount of money in insurance as I would've as a teacher the only difference is the teaching education cost lots of money but I could've walked into the insurance company at 18 with zero debt and gotten a job making the same amount as a teacher would after a 4 to 5 year degree(I did elementary education and special education so I had an extra semester).
Absolutely love Caleb, he’s the stern fatherly voice of financial reasoning that a lot of people need. 100% a fan
I wouldn't exactly call it stern when his voice raises 3 octaves when he gets upset. :D
@giantpune you must be parent less
More like a brother to me but I'm 30 and my dad is in his 79th year of live
This man has helped sooo many ppl. I literally started takling my debt because of him. No lie i felt personally attacked but it is paying off ❤
Keep going!
I had no idea he helped as much as he did financially. Its a truly kind thing to do he hass no obligation to do any it at all. I hope thats the boost these people need to find their success, and not no one takes advantage of him for it
As far as Caleb "yelling" is concerned, yes its part of the entertainment. But sometimes people just need cold hard reality before they decide to change.what
He’s rich… lol. It’s easy to be nice and give when you have that amount of money. So silly people confuse being nice with just having an abundance of resources. A low income guy who shares a bagel is worth so much more then a rich guy just throwing money at someone
Forget the music or arts degree, I was a business major and my class's graduation rate was 51%. That means 49% of my graduating class racked up college, debt but didn't get a degree to show for it.
Wow, that's really bad odds.
Anecdote: I met someone at a party who freely admitted that he was taking out student loans but wasn't even going to school. I said "don't they verify your enrollment and grades?" Nope, they didn't. See this is where I think the lenders should be on the hook-- they're dishing out loans without any regard to essentially fraud in their use. It is just north of payday loans on the scummy scale. And yes, I understand people enter into these contracts as (barely) adults, but they are opaque and predatory in nature. There should be some BK relief for these after a certain period (probably 10 years) and a cap on interest rates.
Last time I looked the national, 4 year graduation rate was 45%. High schoolers and college freshman need to understand this.
@500dollarjapanesetoaster8 to be honest, I don't think they even care. Just the fact that they label them as "student loans" means that they'll follow you through bankruptcy. There's very low risk to the lender even if they offer them at a low 2-5%. At the end of the day, it's "nearly guaranteed" money for them no matter what you choose to spend it on.
@ghhm2705 the #1 thing highschoolers need to realize is that private schools are a massive waste of money. For a University of Wisconsin school I was paying 6k for tuition, and then with housing, meal plan, etc it came out to about $20k per year, though my 3rd and 4th year I lived off campus and bought my own food. Some private schools are closer to 50k a year.
Where you went to school, and GPA, only matter for your first job. After you turn 30 years old, companies only want to know that you have a degree and what work experience you have.
@@ghhm2705 Yup, no one talks about this. Based on Google, 42% of Americans have some kind of college education, so not even the majority. It's not the only route to success, so I wish it would stop being touted as such.
It's funny how i ran across Caleb's channel the other day but it definitely put a fire in me to finally clean off some debt I been trying to get rid of. People get embarrassed but that helps them to also change to be completely transparent. Keep up the great work Caleb.
I had a buddy and his master plan was to become a photographer. Took out loans to buy all his equipment and go to college and his plan, when he graduated college, was just to declare bankruptcy to get out from under his credit cards and student loans. LOL. He is still paying off his student loans and he's 50 now.
Can't one just not pay the loans?? It's not like the govt can repo your education away. Sure your credit gets screwed, but fuck credit, having to jump through hoops just to be able tp beg the bank for a loan fucking sucks and isn't worth it.
@@pinoarias8601 they can garnish your wages.
@@pinoarias8601 , F YT and their crappy spam blocking...
@@pinoarias8601 He would get arrested
@@pinoarias8601 Not recommended.
3:23 they called it out right there, there’s so much bureaucracy and layers of management in a university, very similar to a corporation
I think there is a typo there.
Universities ARE corporations. They advertise, have all types of customers, and provide a product. It especially sucks when they bankrupt themselves and your product you are working on becomes less viable.
I was in the same debt with the same interest rate as Sophie (still am).
I ended up changing careers and taking work that would afford me to pay my student loans (~$3,000/month).
I got lucky where it led me into a career where I make more money but the opportunity I was able to take advantage of once I got into a position to take advantage of it, is a rarer one and intense to get into. There’s not much a lot of people can actually do thanks to these egregious loans
Glad you're working your way out of it! Stay the course!
I’m studying to be a nurse at the moment. My lecturer told me last year they started with 120 and ended with 55. Over half of the class acquired debt with no degree.
120 to 55 students?!? That's crazy
@@Madamchief, That’s pretty typical; when I was in nursing school, our instructor said, “look to your left, look to your right, one of those people won’t be here by the end of the year “, she wasn’t wrong.
@@chercat2753 🤯 damn, that's an expensive failure
Damn caleb is a real stand up guy helping people get into better situations
I’m one of those people that studied music in college. SJSU has an awesome program there and I’m grateful to be where I’m at. I teach elementary music at a private school in SF - love what I do and the return is really good
The idea of milestone rewards is pretty good. Some of these people have said situations and a little extra help to stay in the game (and possibly even some joy!) would help a lot. I also think the audience will tune in to see who is successful so it's a win-win.
I think I remember this one. He asked her how many hours she worked in a day to not have time to make coffee or cook at home…… she said around 5 hours a day…
That's not who the story is about. They put her in the thumbnail because she went viral
@@bleechrcreechrr oh
If I were the blonde woman in the thumbnail I would sue her. They referenced the wrong guest.
If most of her student debt is federal then she has many options. With her line of work, she should qualify for (PSLF) a Public Service Loan Forgivness, after 120 consecutive payments while working in a qualifying field, the rest of your student loans are forgiven. She can also sign up for an Income Based Repayment program to help her afford those payments. In certain cituations bankruptcy can include federal student loans, or allow them to be forgiven with it.
Unfortunately Baylor is a private institution so it’s private loans 😢
PSLF turns your outstanding balance into taxable income. We still lose.
Except pslf is not a guarantee that she gets it even if eligible. Also income based repayment often means the debt balloons overtime because your payment will not be able to cover the interest. So really neither are solutions at all. You really should check details before posting baloney, kid.
You can take out federal loans to attend private institutions.
@@victordonavon292 yeah but after 25 years the loan is forgiven
Thank you for the nice video its always interesting to watch your content.
Honestly you may never know the value of that €1 you have until you go bankrupt, the bad experience I had last year really made me feel that our school curricula should contain more financial knowledge and education. It is never enough to have a good job, a huge salary and all the luxuries at your disposal. But saving money and investing it wisely is never a bad idea,... I learned how to invest, no matter how little, but life really believed it show me the hard way, I pray that anyone who reads this will be successful in life too 🙏
You're right, you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
I agree with you had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment
That's why I always urge everyone to start with investing somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
I studied art history and was in this situation. I was able to roll just the degree with no regard for the major into a good career. There are services on every campus that will help you market yourself, I ended up in insurance claims because we need people who write well and my degree was basically research based writing. Stuck with insurance and ended up in middle management of a Fortune 500. But the loans forced me into the corporate jungle I was unable to try and launch something of my own or take professional risks.
Genuinely what made you think art history is a degree of value and worth your money?
@@slotty82 because your major doesn’t really matter it’s the skills learned that you market. I rolled that “worthless degree” into a nice 6 figure income by the time I was 5 years out of school. Art history teaches you how to research and write well which is exactly what’s needed in the insurance field I was also good at math so I’ve worked in claims, underwriting sales, my skills I learned from that degree allow me to go anywhere in my field.
I didnt know he would help them like that behind the scenes thats actually pretty awesome!
Caleb is so right that not every college should offer music degrees. It's super competitive to become a pro, and only a handful of colleges like Juilliard turn out the top musicians. I know since I also graduated from music school. Now I coach high school musicians to get into the top schools and also teach them about basic finances. Sometimes a student wants to study music no matter what so I help them get scholarship money. This way they don't go into massive debt for their degree. I learned a lot by educating myself from finance channels like Caleb's. Thank you Caleb for all that you do!
Wow I had no idea Caleb was so generous!!! ❤
"I hope she looked at my budget for her" buddy, she's deep six figures in student loan debt and you said she's given up. Not a chance in hell she ever thought about that twice 🤣
Caleb is a national treasure, thank you for what you are doing for your community bro 👊
I think the thumbnail video isn’t the one they are talking about
Holy SHIH!!!! I hope she can get out of that. I can’t believe her father would do that knowingly the cost of the loans and sending her out of state to BAYLOR!!!
The father could've taken out a MEFA loan. She chose to take out a loan in her name that plainly stated she is responsible for it. Other parents that pay for their kids college, actually pay for it. If her dad didn't have the money freshmen year wtf made her think he would have it the following three years.
@@VictoriaInamoratiI agree but she was also 18 and new to all this. She trusted her father. I can’t blame her for taking the advice of her parent. I was lucky that my parents were very upfront about their inability to pay for my college and to be smart in my school selection. Not everyone gets that.
If it weren't her father and student loans, she would have been able to count it as a verbal contract. Don't promise what you can't deliver.
You should reach out to her and get an update. She’s part of the machine now. Follow up and work with her on how she will feel comfortable in providing an update.
the thing is that most people need to be told the truth in their face from another person thats not "friends or family".. cause sometimes they do more damage them help.. hope everyone gets out and moving forward. dont give up fam stay aware
I love his heart. He is so invested in helping people.
The problem isn't arts degrees existing, the problem is student loans existing and (in America especially) being so ridiculously expensive. Lots of countries offer much cheaper or even free degrees.
"Who signs these loans? " Banks that know they will get a bailout.
Those are mostly government loans.
Almost every single loan is government. It was taken over by the government in the early 2000s.
Also, imagine if interest rates were variable by degree+gpa? The STEM 4.0 gpa would have 3% but a sociology would be 10%+. People would be pisssssssed
@@lucacrespi88 Yes, the Federal Reserve "Bank". The Central Bank of the United States and the issuer of USD. The Fed can always print money to cover the interest payments for government loans. It is a ponzi and it's the cause of inflation for everyone.
I will forever be thankful for my parents’ preparation and my own practical streak. I was lucky to have a college fund that was started when I was a baby, I decided to go to community college for two years to get core classes out of the way for much cheaper while I figured out what I wanted to major in. Then I transferred over to a university and did the full four year program with fewer hours per semester (even then I had a full plate) and was able to only take out a $7k loan. I did have to commute pretty far most of those years, but one year in the dorms was just enough of the “real” college experience I needed and I’m not weighed down with debt.
Some people need to go through a deep journey it seems before they get out of their situation to truly wake up
He's 100% correct about the music departments around America. I'm a musician and I'm trying to convince my son not to pursue a music degree. I probably won't win that argument but at least he won't have to get loans.
He needs to know the financial risk, its not just loans its wasting a lot of money with no return. Nothing wrong with being a musician, maybe he plays at venues or bars but its a hobby/sidegig until it makes a reasonable income
Let art be creative, don't try to turn him into a job.
Gonna be a bit rude but unless his dream is to pay off study loans for the next several decades while working two jobs in the city symphony orchestra or as a music teacher, that degree is worthless.
Anything else can be done without a degree.
Not sure if it was intentional but the lady you have in the thumbnail isn’t the guest Caleb is talking about.
The video in question is “Professional Model has $250,000 in student debt”
One of the most underrated TH-camrs out there. I was debating two financial situations, to be clear I've not been in financial problems. I had two choices pay off my hecs debt( student loan in Australia) or continue to invest.
Short story last week i paid off my hecs and nearly debt free. This channel as stated is not financial advice but rather life lessons to help you understand the value of a dollar. Hopefully everyone that Caleb helps is able to turn their life around.
Cut off the loans entirely. Watch the industry change dramatically
Good idea. We don't need doctors or nurses anymore
@@coldnate these prices will drop and they will work to cash flow it. Or desperate hospital will pay for future workers educations. Think harder rope a dope
@@coldnate If hospitals need them, they can pay for their tuition.
They can’t do that because the country runs on our student loan. 45% of the countries assets is student loans… let that sink in. People believing in this fairytale “student loan forgiveness” and waiting to pay are going to suffer longterm.
@Teslaviator if you think health care is expensive now, just wait until hospitals have to pay for doctors’ tuition
If they weren't private loans she could've got a job as a Social Worker, apply for PSLF and get out that way. Private loans really screws her
They let you take out 6 figures of loans for school but not for a business?? Essentially the same amount of risk nowadays with degrees not having as high of an ROI as they did 40 years ago. The system is deeply flawed.
3:00 this is why I study a school for hours to determine if the degree is right for me. I look at classes, facilities, campus resources, etc. I have a music AA and am going for a BA in music industry. When it comes to degree of the arts, it’s really important to see or meet the faculty before you go.
I listen to Caleb scream “taquitos” because I love that his voice is in my head (when I’m about to buy a taquito)
Make the institute hold the loan. If they don’t produce a professional they don’t get paid.
This is why the government taking over student loans has been the single biggest contributior to this problem. There is no looking into whay youre going to school for. Could you imagjne telling a loan officer that you need 150k for a social workers certification or degree. They would know you wojkd never be abke ti repay that.
I didn’t take a financial literacy course until college, how crazy is it that we can sign away our financial future to take out high interest student loans before we even take a course on the basics 🤯
It’s mental to me the way the us does student loans. Uk isn’t great but it largely operates as a tax: you stop paying after 30 years and if you drop below an earning level, you stop paying.
Caleb seems like a genuine good dood
Nah, all he does is go through someone's spending report and berate them about it. He doesn't care about them improving
The people he is talking to on main videos are way beyond knowing how fucked they are
@@jgregg7100idk.. some people really need that wake up call
He also gives them a plan to help them. That’s a good dood.
Making student loans dischargeable in bankruptcy would solve a lot of problems. First, the banks would stop loaning money for worthless degrees. Many colleges would stop offering the degrees when there was less money falsely promoting that degree. However, poor students in high school would find it very difficult to get loans for college tuition. Banks would start applying risk limitations on approving the student loans. It would make colleges competitive in the sense they would be forced to keep costs down and only offer degrees that have actual value in the marketplace. However, a lot of kids that want to go to college would not be able to (forcing them in to more lucrative trades that do not require degrees).
Student loans are different. A house can be taken away, even a car or other assets, but an education can not be repoed. You get what you pay for which is an education, not a good career
Imagine an organization meant to prepare and educate you for life assists in your making the work decision of your life…
Caleb's right about not every institution needing to offer every degree. Does a random college in South Dakota need to offer a BFA? When I lived in Atlantic City the local community college offered programs and certifications for cards and table games. You probably don't need that college course in say Utah. He's right
His videos made me care way more about credit and debt.
Indeed😊
The best financial choice would be to sue the father.
How? And for what?
For liability, for claiming that she could take out a loan and that he would help her and that he essentially made her go to a school she didn't want and then didn't take responsibility for his end of the bargain. You'd need the right lawyer, but if he had a net worth, I'm sure she could try it unless it's a load of tosh.
@@lollipop1894 The only way she could win something like that is if they had some sort of signed contract. A verbal agreement probably isnt going to be enough to win a case like that.
@@lollipop1894there have been multiple court cases like this in the past. The court has always sided with the parent. As an adult (18y/o) you are responsible for what you sign.
So in that story she didn’t have him co-sign? How was he going to pay for it? Lol, was this a step dad that just couldn’t wait to get rid of her? She doesn’t sound like a naive 18 year old, she sounds like a total moron.
I’d believe that she invented the story if that were true.
Good interview
Really appreciate Caleb. You're doing a very important thing for people.
Caleb is the goat. Of course anyone who came across graham is gonna find Caleb especially before Caleb really got big. Homie really made it
he doesn't completely blame her, sometimes bad shit just happens
My ex gf from college was at least smart with her choices there. She was majoring in dance but decided to minor in business knowing a dance career might not be in the cards. I hear shes doing alright with that now.
Point being, if youre going to major in something that clearly doesnt have a good path to a high income then minor in business. Give yourself an good backup.
minors mean nothing
This is not true I know someone that got a very lucrative job teaching at a very high paying private school because she had a minor in Spanish. She literally scored an 85,000 job a year because she had a minor in Spanish. @@onmywayup94
@@onmywayup94cool opinion bro, not reality in the slightest
@@onmywayup94 I disagree. I'd rather hire an employee with a minor in the pertinent subject matter than someone who has no formal education in it. Minors at least hammer out the core concepts of a topic which makes future learning on the subject easier.
Business degrees are pretty useless. It's a general degree that doesn't actually apply to anything It's broad
my greatest decision was not going to college. super happy I didn't. I work IT, so it would have worked out but yikes man. scares me everytime.
I got a bachelor's and masters in social work. Can't imagine having that much debt.
It's Baylor, they are insane
Our local college actually shutdown several departments with low enrollment and degrees that provide little cost benefit. But of course there were protests by students and teachers saying they need even more departments and funding. The teachers now sued the school and all media was saying that school is taking rights away and every other hit piece they can come up with. Too bad people don't understand how all those worthless degrees end up hurting them down the line when loans are due.
Yeah this is the type of stuff where the uniquely spoiled American mindset comes to bite us long term
Sometimes parents are the worst. That's how I feel about Olivia Jade. Her mom destroyed her career because Lori refused to believe in Olivia.
Watching this makes me so happy that I took the hard road and graduated with an engineering degree and I actually work in the engineering field!
The thing you need to know is, they don’t want you to pay off the loan. If you pay it off they lose the profit margin
Thumbnail is unbelievably incorrect. The woman pictured is the “spiritual healer” escort who makes plenty of money and had bad spending habits that were her financial undoing. The person being described in the video was in a very different situation and her story was actually very sad. Dont go looking for context by searching Caleb’s old thumbnail images. You won’t find the situation he’s talking about that way
She wasn’t a escort? What? She was a “life coach” or whatever.
@@user-pl4pi5hp6mmeans escort
@@user-pl4pi5hp6m Her website was linked in the description on the video. It takes about 5 seconds of looking at her website to realize she actually offers rub n tugs and other sexual activities. Sure she uses all the "spiritual" jargon around it, but at its core, it's sex work
My MA in fiction writing was so freakin useless. I'm still paying it off in my 40s and I really self-learned everything I know about writing and publishing.
"You wasted $150,000 on an education you coulda got for $1.50 in late fees at the public library."
Rewards would be so good! As someone who struggles with impulse buys, if I have a reward goal it helps motivate me to not make that purchase
A great idea you could do for the little trophy things is the "Hammer that breaks the rock" as the metaphor for the debt that's like a Boulder that we drag around
The should probably be legislation in place to stop people from taking loans over a certain amount or over a certain interest rate.
Or have loans be lump sum. For example you take out 10k and have to pay back 12k and since its a school loan it has to be over a 30 year period. Or simple rate limits. The issue with these loans seem to be the crazy rates which make no sense since you cant get rid of the debt even with bankruptcy.
Or maybe people should be more responsible. When I was in college, I did three things. One, spent my first two years at a community college. Two, I worked full time during the school year and threw every penny I could at any school expenses including loans. Three, I picked up a second job during the summer and paid every penny from that towards school. When I finished college, I had less than $3,000 in debt, which I paid off in two months. And I continued to live a minimalist lifestyle to continue to save and invest for my future career. Even as a millennial, I’m paying more for flight school than I ever paid for college, but I’m doing so without going into debt
It’s simple: when you’re in debt, you shouldn’t be buying anything you don’t need
@@nicholasselke5214 K bro good for you. Doesn't seem to be a good system for the general public though. Allowing people with an undeveloped risk management portion of their brain(18-22 year olds) to take out ridiculous loans is clearly a hinderance to a large portion of society.
@@bobwaka1 Thats also not a bad option
Except that's just adding more bureaucracy on top of the bureaucracy that caused the problem in the first place. Think deeper, kid.
College used to be affordable at one time. Than Fanny May got involved and made a business out of it. Plus our Politicians got involved to help the financial companies!
college is affordable. But people like to choose taking out loans for rent and living cost at expensive out of state private schools instead of living with the parents and going local comunity colleges.
@riceball777 and most that I knew spent all their free time partying instead of getting a job. That would help with the affordability issues
6:56 lmao the only thing bro contributed to the convo "we could make the trophies...bigger!🤓🤭"
My dad did something similar. But to his defense, he knew Jack sh*t about American loan student loan, basically nothing about financials and borrowing money. But I got lucky and found out US military student loan repayment program. Got everything paid off at the end of my 4 year contract and had 10k remaining. My GF at the time was great. She paid it off with no string attached.
Caleb said, give me the 2020 TikTok teen cut please
bro is too millennial to pull it off 😭 I love Caleb tho fr
Broccoli boy
Caleb should probably keep the money he's given to people on the DL. Money for therapy is understandable but he's going to start getting people who are only there for the possibility of a free handout.
I was an 18 year old kid with impulse control issues and a lack of drive. But even then i went to junior college first because i knew what the loans meant. I’m glad i did.
The notion that people are being “tricked” is a stretch
Would love to know how much Graham helps people it would be nice for him to make an episode how much he has done. TH-cam has made him very wealthy.
Thumbnail not matching the conversation….
Why would you post that girl's pic in the thumbnail? I saw that episode Caleb is talking about and it's not her who had the worst financial situation.
@nathanballance2347 Ohhhh got it. Thanks for the reply!
Maybe a SUCCESS Story Playlist
What about a 1 year follow up? If they prove progress, you match up to so much to pay off a bill. Giving them too much at first might not be helpful.
0:50 she got what???
I love your videos Mark, I am trying to get back into investing, I tried 2 years ago and I lost my money. I had to quit to save up, now I am back to start all over. This time I am not going to do it all by myself like I did in the past. Please any good advice will be highly appreciated by me. Thanks in anticipation.
One crucial piece of advice I'd like to offer is to always have a solid investment plan in place. This includes setting clear financial goals, understanding your risk tolerance, and diversifying your portfolio.
investing is a journey, not a sprint - take your time, stay patient, and stay focused on your long-term goals, have someone guide you.
this is definitely superb! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Marisa Breton Dollard is the licensed fudiciary I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.Wishing you all the best!
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Thanks for solidifying my fears of student loans. Idk man if I ever go to school I'll save for it.
The bigger problem with school is that relative to the debt the education has basically no value anymore.
Love Caleb but he talks so fast. I had to pause multiple times to take it all in haha
Literally listening on 2x speed with no issue lol
@@pbrown0829you must be a genius
It’s because he just spits out words with no cadence so they all sound like just one long sound
You can slow down your video player.
Maybe you are just to slow?
Gotta stop cutting the guest off its what pushes actual podcast listeners away🙏🏻
Didn't realize how much you do for these people behind the scenes.
It is wrong to think that the most important thing you get from graduating university is the words on your diploma. For most, the major is not the important part - it’s just having the diploma that is actually valuable. As someone who didn’t go to college and had to make ends meet with only a high school degree, I was simply excluded from office or corporate jobs. Basic admin stuff that isnt glamorous but makes 40,50k a year is widely available to any graduate who is willing to work regardless of their area of study.
Meanwhile I scraped and labored for at best 20-30k and couldn’t get ahead until I could put myself through community college at 30.
As a counterpoint to those who say liberal arts are poor degrees: my wife has a Bachelors in English. At 34 she makes well over 6 figures, has zero debt, an emergency fund, and healthy retirement savings after making her career in corporate contract management. She doesn’t want to be a lawyer, never studied law, but is very detail oriented, works hard, and is willing to ready dry legalese carefully. She could do this because her generic diploma allowed her access to uninteresting entry level office jobs.
As a side note, I think a well read population makes for an informed electorate. Liberal arts can teach one to think critically, arts can teach one to think creatively. Just don’t expect to be handed a comfortable cushy job in those fields right out of the gate. It is in the application of knowledge (not its attainment) that value is created.
Her career definitely got ruined
i do believe private student loans ae dischargeable in bankruptcy.
No, I don't think so.
Nope
Simple daily interest has destroyed this countries financial sector. All in the name of more money later to inflate the overall unpaid debt that looks like future income. The only problem is that money will never come.
My son decided [against my advice] to go to University of Central Arkansas for 'Music Education'. I found out near the end of his first semester that it was a 6-year (12 semesters) degree program that cost just under $15k per semester. That's $180k to become a music teacher. Furious. That's the only word I could come up with.