Older Americans Are on the Front Line of the Student Debt Crisis
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- เผยแพร่เมื่อ 16 มิ.ย. 2021
- The fastest-growing chunk of the U.S.’s $1.7 trillion student-loan pile is the one held by the oldest borrowers. There are now about 8.7 million Americans aged over 50 who are still paying off college loans, and their debt has increased by about half since 2017.
Some took out loans to help their children, and could be well into their 90s before they’re done repaying. Others went back to school later in life. In both cases, borrowers got saddled with hefty interest rates that inflated their balance.
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Going to college has been the biggest lie of our modern times.
There are so many other ways to educate yourself....debt free.
College is a scam.
Yes but getting a job without the credentials is the real challenge.
@@doms.6701 yup because people need to educate themselves… talking smack against education because it is expensive is a fallacy… must remember to put forth alternative in studying and diversifying interests.
@@doms.6701 I work at a year university with a bunch of people who even graduated from this University the difference between me and them is I don't have debt for college because I didn't go the reason they work where I work cuz they've got a degree in a dead field because that's what this university offers on top of the fact that it does not teach anything where you can get a job in this state so they all leave state. College education is 90% of the time a scam.
@@tomare6479 Google is compromised...Use DuckDuckGo as search engine...
Father took out student loans for his son. His son should help pay off those loans.
So unnecessary for a parent to do. The son has far more years and higher earning capacity than the dad. This is just poor planning.
Yeah that's my thought too, especially since it's for their children's education!
The father needs to be released from this by his son
the wardens son is a fuking bum if he doesn't assume the debt
No he needs it to spend on his weekly bar visits
College tuitions skyrocketed after the government began to freely hand out student loans.
It skyrocketed in the 90s after they allowed you to use the student loan to get anything you want.90% of what these idiots have spent the loans are --are not the classes that get you the education.It is the apartment--spring break trips--the car--the 2k a year on Starbucks.I lived at home and worked when I went to school and used the loan for one year--simply for the actual classes--which totaled right arond 1000 dollars--the kids that chose to live on campus were spending 5 to 7k a year just on rent and they owe that.There are videos of people boasting about spending their school loans on drugs--parties--even expensive cars like corvettes and laughing about it--they can get a 10% break on the classes that they went to--all the other crap they owe.
@@khronin - exactly. I've seen studies that state the number of students who used their loans to go oh spring break was crazy. And that's only the ones who admitted it.
@9Satori Not a scam--these loans were intended for taking the actual classes--no for new cars--paying rent--eating out everyday--going on spring break--these idiots spend the money on everything but the classes. Here is current UGA average rate.
Cost Undergraduate Tuition & Fees - Summer 2021 Classes Students are charged per credit hour up to 14 hours; any credit accumulation of 15 hours or more will be charged a flat tuition rate of $4,895 (in-state). The credit hour rate for undergraduate students (in-state) is $326. But if you live on campus--this same cost is right at 47k a year.
@@bobisrighturwrong And all a student loan is --is a test with a high interest rate on unproven folks--and as predicted these mongoloids spend the money on everything but the class--then boohoo when they owe 100k plus for a Liberal arts degree and realize in the real world that piece of paper is worthless--Hey kids of today--here is a quote from my era "Party on Dudes...Dudettes"
No. The government used to offer extremely low interest education loans in the 1970's...then the government allowed banks to become middlemen and the interest on education loans skyrocketed. What was affordable became unaffordable, so that banks could make money from student loans.
I raised myself from streets of Dallas. One thing you learn on the streets owe and borrow nothing to ANYONE. 😒
Stop forcing people to take pointless electives. Stop offering students pointless social science degrees.
BWAHAHA!!!
Don't tell me what I need to take.. I need underwater Basketweaving elective and an Art Degree so I know what I'm saying when I visit an Art museum on day's they allow me in for free since I can't afford a darn ticket..... :)
Exactly. The system is forcing everyone to take things that aren’t related to the field they’re interested in. It’s just a waste of time and money.
A board room of "professionals" arbitrarily decide what college curriculums must have to be accredited. I think students and the companies that hire them don't understand all this shit is just made up. Remember everyone wants their piece of your ass.
Ethnic/Gender Studies in California (because we are not diverse enough)
I regretted taking a student loan to help my son --now I have to pay until my mid 70s. My money is going down a rat hole.
Make him pay it tf lol. Put ur foot down
Play stupid games, win stupid prizes.
I'll be damned if you want my tax dollars to pay for your bad decisions
Sounds like you and your son made some bad decisions. Now explain why the rest of us should pay for that?
@@craigforest7970 Google is compromised...Use DuckDuckGo as search engine...
@@craigforest7970 you are already paying for someone’s bankruptcy for a failed credit card debt, home loan debt, car loan debt, business loan debt, etc. shall I also explain to you how taxes work?
Maybe the colleges should do some cost-cutting for a change?
That's funny. There is no such thing as a not-for-profit college. It's all about the $$'s. That's why students actually learn very little.
@@papasquat355 Colleges don't have an incentive to reduce cost right now. College attendance is still high and the government is subsidizing everybody. If the state stopped pouring money into the college system attendance rates would drop and colleges would be forced to reduce cost to get more students. One easy way to do that is to get rid of worthless gen-eds. I don't need a gender studies, music appreciation, or political science course to be a mechanical engineer. Shit like that was a good 40% of my course load.
I went to tech school in 1990. Total cost $2500 spent on using my own money. Now I make 120k. College is useless unless its a job that can pay it off in 2 yrs.
Absolutely correct. Why pay thousands of $$$ to learn how to do a job that pays hundreds? Learn a trade, always have the ability to get a job and always have a job, as your skills increase so will your pay. If the raises don't come fast enough move on to the next employer and take your skills with you.
The university system is not in the business of educating. It’s a government entity.
how is that ?
Not sure what you’re talking about but community and state colleges are pretty affordable
As Bill Mahr said, its a racket
"Y'all got 5 degrees
And 6 figures in debt."
-Logic
"Pay very very close attention to what all the idiots are doing. Then, go do the exact opposite." - Robert Kiyosaki
More like one degree and 6 figures in debt
When Biden was in the senate, he made sure that student loan debt couldn’t be included in a bankruptcy. What else would you expect from a senator that comes from the credit card capital of the world? He also made it so that credit cards could charge whatever interest rate they chose. And that lady thinks he’s going to change it? 🤣🤣🤣
It is not going to matter. All student loans backed by the govt are eventually forgiven.
@@NicoleM2108 What are you talking about???
@@JuanGarcia-ru9on Federally backed student loans, if not paid back in full, are forgiven in 20 years (for undergraduate loans) and 25 years (for graduate loans). These are the terms and agreement of federally backed loans. They are also forgiven under permanent disability or death (unlike some private loans).
What a crock, news story, the guy assumed his sons debt now he’s complaining because he made a bad decision. Get his son to assume the loan back.
One of the guys at work had a sister killed by hit and run drunk driver. She was in graduate school with the mother cosigning student loans. The mom can't get out of the loans.
They triple from the amount borrowed..the interest capitalizes. It doesn't work like regular loans its a nightmare.
the dad has the son's student loan, willing to bet the son is buried with cc (*credit card) debt, car loan debts, mortgage debts, etc. ..... (*and the list goes on and on and on)
The oligarchs get Grant's and we get loans. "Let them eat cake"
Never thought about it that way but it is so true. Smh!
In my day if you weren't in college you were pretty much on your way to Nam.
in my day college "was" the entry as they gave me the selective service form at my college campus .....
That's why I've never bothered with college. I do better with no debt and working than a huge debt and not being placed in the field I studied in. Our school system, in it's entirety, is a joke.
Well I went to college and got undergrad and grad degrees tuition free. I had scholarships.
@@dentatusdentatus1592 you're lucky
@@dentatusdentatus1592 most people don’t qualify for scholarships… the education system needs a massive overall. IMHO it should only teach the core subjects towards necessary skills and cut the fat off… 1/2 of the credits go to things unused in the real world.
everything the government tells you to do and subsidizes you to do it for some reason always costs more than it did and is worth less that it was...
@Ben Shapyro Well I wouldn't trust the US government to handle universal health care either, they're too crappy at everything else. Perhaps if they imported people from the Netherlands or Germany for instance, to run it, then I'd feel better.
The government owns those who owe them money…
My 10k sounds like nothing compared to these stories. My son was born with life threatening defects which made me have to quit my job to stay home & care for him full time. Life is not fair to the poor.
What an ignorant comment. So if you’re rich and the exact same circumstances happen to you that is fair? The best thing you can do is remove the word fair from your vocabulary. Very little in life is fair, get over it and move on and move forward.
@@craigforest7970 Google is compromised.. Use DuckDuckGo as search engine...
@@craigforest7970 The rich wouldn't need student loans in the first place.
@@LulaMae21 but that’s not an example of life being unfair. It just means that persons parents were successful and passed on their success to their children. Isn’t that the American Dream?
@@craigforest7970
"Empathy", is clearly not part of your vocabulary...
The son should help his dad.
The woman should not have gone to college…
Really, allowing these loans in the first place is a huge problem.
Right? Have they not heard of personal responsibility?
Kick rock's fuc face...any American should be able to go to college if they choose...it's such a joke u don't see that.
@@a-damgrubeer8527 not if they can't pay for it. your hero joey baby promised to eliminate student debt, but back pedaled on that quick...
What actual percentage of student debt is held by people 65+? I mean if you had 40 years to figure out how to get rid of your debt and still haven’t…that’s on you.
@V Silverhand My friend took out a $17,000 loan, finished a Master's Degree, then became completely disabled in an accident with brain damage. After a short deferment they jacked up the interest rate an insane amount. The loan is now $100,000+ and is now over 70 with dementia. Was a drunk driver my friend's fault? NO!
@@rridderbusch518 Was your friend not able to get it discharged for permanent disability? Or was this a private loan?
@@LulaMae21 My friend was recently sent a letter that said the loan was discharged, but never got a refund for all the money paid since the accident. Decades worth. The drunk driver died in the accident with no assets nor insurance, so my friend got totally screwed. The system must change!
@@rridderbusch518 I'm sorry about your friend's situation. I hope the remaining years of their life are much less stressful. The system absolutely needs reform.
@@LulaMae21 Thanks, LulaMae. I appreciate your kindness.
God guide and bless those who are struggling.
I’m so happy I didn’t get any student loans out. It is disheartening seeing these types of stories. I’m taking community college courses at my pace and paying as I go, while navigating being a single father.
Best of luck to you! That's the way to do it!
More trade school graduates.
Less college graduates is what the USA needs.
Nothing wrong with both but the costs. These "job creators" don't pay into the workforce - that's the issue.
Alot of people look down on the trades, some of my old friends laughed when i signed up for an electrical trade school instead of a college. Now i make around 130k a year.
@@robot5001 think before you sign up for a 200k debt then.
Its called usary or loan shark shylock every damn thing in this is motivated by profit,and its legal but highly unethical!
We’re supposed to feel bad about debts they put on themselves?
It's worse than that I'm afraid.
This is a propaganda piece intended to drive up support for another bailout. Democrats want to buy votes from fiscally irresponsible students at the expense of taxpayers. It's a subsidy of failure.
@@brad3378 Google is compromised...Use DuckDuckGo as search engine...
Do u know why there is a student loan debt problem. It because half the degrees you get are so over priced they really aren't worth it
Find the 21 trillion dollars that are un accountanted, from the Pentagon budget and pay all student loans
You misplaced a decimal point or you are quoting the entire national debt.
Either way, you idiots won't get a dime from me without a fight to pay for your feminist dance theory degrees
@@brad3378 no seriously look it up on Google
@@brad3378 Google is compromised...Use DuckDuckGo as search engine...
@@brad3378 What about nursing and teaching degrees?
Get rid of the interest rates so the students can pay off their loans. But make sure they pay off the loan and give it. They took the loan out to go to college they need to pay it back but get rid of the interest rates
My friend took out a $17,000 loan, finished a Master's Degree, then became completely disabled in an accident with brain damage. After a short deferment they jacked up the interest rate an insane amount. The loan is now $100,000+ and is now 70+ with dementia. Guess who's suicidal now.
@@rridderbusch518 thats a different story that loan should be forgiven. We're talking about college students today that take out a loan and are able to work they need to pay back their loan
@@lonniebrown860 Should have been, absolutely, but wasn't - until after it destroyed my friend's entire family. But what do they care? It's good ol' red-blooded American Capitalism, after all.
Thanks to the government, our colleger system is completely off the rails.
Why are the kids not helping to pay these loans off?
Something tells me we’re not getting the full story here.
You mean other than it being Bloomberg? 😂
With a bachelor's in theatre and dance, maybe these kids can start getting a job with the media 🤣
Maybe they could learn to code.
They can work in the solar energy industry
no one should work at all!!
@@Anesha12 Then who's gonna keep the Internet going so you can make asinine comments 🤣
@@Anesha12 Could you please explain what "nobody should work at all!!" would look like in the real world.
The colleges in this country could pay off our national debt with how much money they just sit on. Forgive all student debt so that the money saved from it can be used to better the economy
I paid off my student loan and I have no regrets about getting a college degree. I'm not sure what the big deal is. Some of what I've seen is people getting degrees from more prominent universities, which is more expensive. They also drive fancy cars and live in apartments that tend to be more expensive. If they're not driven enough to have the degree work for them, they may find themselves at a financial deficit in the future. The smart thing to do is complete your basics at a community college (while living at home) and the rest at an accredited university. Once you're in the workforce, no one cares about your alma mater and as quiet as it's kept, most people are trying their best to get out of Corporate America anyway. It's boring and monotonous.
You want your son to go on and get his Master's degree? On his dime? You raised a spoiled entitled son who doesn't know his responsibility!
Thank you for talking about the interest compounding. Thats what effected my payments skyrocketing. Most people have no understanding of this.
and that's why you don't cosign loans.
It’s crazy some people care about others well being
@@Anesha12 if you are dumb enough to cosign a loan on someone who you know is irresponsible it's your own fault. go ahead, give that junky 10 bucks, but don't be surprised when it gets spent on smack.
@@k333rl Google is compromised...Use DuckDuckGo as search engine...
@@k333rl what junky? I just.. what are you talking about?
@@Anesha12 did you go to college? did you get a loan for your college? if you got a loan did you get it yourself, or have someone cosign for you?
Dropped out after one year because I didn’t know what I was doing. Now almost 4 years later, all I can say is, what a blessing
Excellent. I wish more people would realize that most university degrees are a scam
The son should be ashamed of himself. The Dad should have known better then to take on that massive debt.
That woman...using student loans to cover basic expenses? As a taxpayer, why should I pay for anyone elses education and bad decisions?
Frank has likely been screwed by Navient. I had them. They did not tell me there was a way to consolidate the Parent Plus Loans and then pay based on my income. I wasted 14 years with them, from 2004-2018. I'm with Mohela now. I'm semi retired. My program will likely never pay off the $60,000 I still owe. Based on my income my payments are affordable and given enough time the balance will be forgiven. Until then it is still a debt that affects my life.
I'm having a good time spending my children's inheritance. lol
Pay your bill and never co-sign for anyone
I can understand why parents take on loans, so their children don’t have huge debt immediately out of college. However, the children should take over payments after establishing a career. I can’t imagine having my elderly retired parent struggle to pay my student debt. The children didn’t establish a viable career you say. Well, that’s why college isn’t for everyone. Student loans should not be forgiven, nor should they be released through bankruptcy. Doing so would completely tank the economy. Everyone makes a risk benefit analysis when deciding whether to take out loans to go to college. University isn’t for everyone, and not all degrees lead to careers. If you don’t have $, and don’t want debt, maybe you should go into a trade. At least until you have some $ saved, or an employer that will help with the cost of more education.
thennnn they shouldnt give us loans to people who dont have good credit history or no credit history, or allow students to let their parents take the debt. College is a Ripoff and a scam.
But why are the rules different for big business? During the housing market crash, banks were bailed out with tax dollars and were only required to pay back the principal (an interest free bailout). Big business are not saddled with crippling interest.
@Cael Dye Bailing out bad business or businesses that make bad decisions is poor business strategy because you're only delaying the inevitable, Now, I will say for example a company like ford would have a large impact and we love our american cars, but if they cannot figure out how to do business eventually they'll fail
I'm always interested to find new ways to help tank this stupid economy and I'll always do my part in making it happen.
What if the people make Straight A's get an Advanced Degree and make highest honors, but no one gives them a job. What then?
I took advantage of a program through Nevada called the prepaid tuition program . It was a five year program in which every month I paid a set amount. I believe I started it when my son was in elementary school. Now his college is paid for where he will go to a Nevada community college for 2 years and then will transfer to the bigger 4 year university which is either UNLV or Reno. If the price of tuition goes up I do not have to worry because the prices are locked in . He is 17 now and hates high school. He also does not want to go to college! Hopefully he will change his mind later on. If he doesn't go I can cash it out anyways. I am surprised more people don't look into programs like this for their own children.
They have tv ads for Florida prepaid college plan every day here.
@tgjguitar Minimum wage in 1972 was $1.60 so it probably was still hard if you were making that to pay for school and living expenses. I am not sure if you were making more than that but I commend you on being able to accomplish that feat without financial help. I went to college in 1988 and I worked and paid my own tuition as well. I also got some help from the military as I was enlisted in the Army Reserves at the time and they offered a tuition assistance program. Minimum wage at that time I believe was around $4.75. I look back and still wonder how I did it. Now kids are getting $15 /hour to flip burgers.
What you’re describing only exists in about 6 states now. Most states have shut down those types of college savings plans unfortunately.
I couldn't afford to pay for 2 student loans yet alone 1, so i didn't pay for my 2 sons educations.. Why should my tax money be used to pay for someone else's debt? They will make more money then my sons , and should pay their own way until there is collage for all as part of our basic education..
Your son should help you pay those loans off since you got it for him.
"I signed a contract and didn't understand how interest rates work, so pay it for me." - everyone who complains about their debt.
People are dying in debt...penniless and not able to pay for their own funerals.
Try not to die
Then they shouldn’t take on loans
@@doodlegoose2262 Google is compromised...Use DuckDuckGo as search engine...
Thank you God for not allowing me to get any kind of loan, I graduated H.S. and traveled as a commercial truck driver along with my brothers🤓👍👍
I sympathize for many who tried to help their children, your wonderful patents God bless you🌿🌹
Why isn't the son paying for his own degree???
Also, a prison Warden makes good coin.
That was my question, the Dad took out the loan to help the son; now that the son is an adult, why isn’t he paying his own debt.
Who decided to take the loan? case close. I am not paying for your bad decisions people.
Wrong. You clearly know nothing about banking and how it now operates.
@Jimmy John Google is compromised...Use DuckDuckGo as search engine...
@Jimmy John Student loans were only starting to be seen as a major issue back then. The debt number has literally skyrocketed since then.
@Jimmy John That they should have taken care of a problem that was barely being recognized as a problem? Okay...
@Jimmy John Everyone but the poor students being suckered in, that is. Those of us who were in college then got to look forward to graduating in a down economy where jobs were hard to find.
Why isn't the son helping his dad payoff the student loan debt?
Because he is a southerner. Probably a biblical christian. They don't understand personal responsibility.
Lol my parents signed my loans but told me I am responsible for paying all of it back.
You would think his son with biology degree would help pay it off.
If they can’t cancel them then at least fix this broken system by canceling the interest.
Naw. You will pay the interest, and you will LIKE IT.
@@MikeyPaper lololol 😂😂
Stop being sold by educator sales people.
Before going in debt research, research, investigate, and educate yourself about the debt.
WHY would you put yourself in this situation?
You knew you'd be on a limited income.
I had a friend who paid for his four year degree on credit cards. After he got his degree he declared bankruptcy and all that debt was erased. He told me it was easier to have bad credit for seven years than to pay off a student loan for 40. Pretty smart idea I think.
Smells like fraud. What is your friend's name?
@@KingKwon
This was 35 or so years ago.
I’m not going to dox him for something he did that while questionable is not illegal.
Lots of people get as many credit cards as they can, max them out with furniture, etc. then declare bankruptcy 35 years ago. Now it’s not so easy…
It's the high interest that has created such a mess.
They got no right to complain about what they read, agreed and then signed.
I didn't know the loans where charged interest.
I thought all was interest free.
What is the interest rate??
Sickening!!!
Depends on the loan, lender, and when you borrowed. Federal loans tend to have better interest rates at the undergraduate level. I've had between 3.4 and 6.8%. I've seen private loans at 10-13%. It's a huge racket.
@@LulaMae21 thank you for enlightening me.
Something needs to be done its almost predatory lending
It's terrible for young people to get so much debt with interest on the debt. Not good in my opinion.
@@bradleytenderholt5135 It sure is. On top of that, credit card companies will target these young people and they can get into thousands of dollars of trouble that way too. I remember when I was in college, a pizza place gave away a free pizza if you signed up for a credit card. I think a financial literacy course should be mandatory to graduate high school.
The government subsidizing risk of outsourced loans to private lenders was a brilliant idea…
Why would I want to pay for someone else further education. If they want to further their education it's on them.not my fault they took out an unpayable loan just like going to a loan shark because they were promised big rewards. Buyer beware.
Because it would make your country alot better and happier. Don't you want your children to grow up in a more educated country?
Exactly! I paid for mine
@@saphired02 you volunteer to pay them then...I paid for mine...that was enough
@@saphired02 when do you suppose this will happen.The more degrees the more greed. People who graduate college with a degree believe they shouldn't start at entry level but CEO status. Maybe they should work at the bottom until they realize that everyone should work for what they get. Not have it handed to them. Just because you go to college don't mean you know how to get out of the rain.
Well, take responsibility for the loan that you took. You're supposed to be educated and smart.
So I learned don’t get student loans?
go to trade school ,come out of school with money in the bank and a useable skill
Indeed,worked out well. The Military is a free trade school if you know how to pick the right M.O.S.
I can appreciate both sides of the argument... take the loan, pay it. But... when you have paid half again more than you borrowed and you still owe more than you borrowed or even twice as much as you borrowed, it gets a bit ridiculous.
Read the contract. If you don’t understand interest rates you need to go back high school not on to higher education.
@@johnholbrook260 you attempted to insult people in this situation by using an incomplete sentence. I could respond in kind by tossing insults, but many people have this issue through no fault of their own. Many loans are not disclosed properly and in spite of your penalizing attitude, they don't get any breaks such as those associated with many home or personal loans.
@@johnholbrook260 Most students taking on this debt are young and poorly educated regarding finances. I can remember in college in the late 2000s, a local pizza place would give a free pizza if you signed up for a credit card. Students love free food, so they ended up with a card on which they could end up in serious debt. The whole system is very predatory and sets people up for financial failure when they're barely adults.
College is a joke.
the bottom line is these borrowers willingly accepted the debt and expected to derive personal benefit. now they expect the rest of us to pick up the tab for their imprudent borrowing?
The lady in this example used her loans, partially, to supplement her lifestyle. Now she's a "victim" of the system. So many holes in these sob story pieces.
All these people signed on the bottom line. Their stupidity with not researching what taking out these loans would mean is not us as taxpayers problem. Parents taking out loans for their kids is insane! I bet that lady is making her house and car payment. Why because she signed for the loan.
She went to college but ended up being a bus driver , why did you go to college ?
She was a bus driver first. She got injured and had to change careers. Went to college after that
@@XxPeaceNinjaxX her medical expenses is too much for her to keep up with , why add more debt , especially college ,
Why isn’t Frank’s son helping? Also Alma is pretty obese so she clearly has money to spare smh
My daughter took out a student loan. 80K. She is 36 and will have her loan payed off in 2 more years on a teachers salary and two children. She doesn’t pay the minimum as do most. She gets an income tax refund? It goes straight to the loan. She also worked during college to pay for her college.
That’s the way to do it! Smart cookie.
@@vivaciousom5347
Yeah! She gets it from her mother! 🤣😂
@@badkarma6181 I quite agree! You did a great job!
Understanding compounding interest is a skill that everyone should learn before agreeing to a student loan, mortgage, credit card or car loan. Tell Mr "there should be a better way" about 529 plans. Ours paid for over 100% of college expenses thanks to good planning and not trying to attend the most expensive colleges out there.
Exactly! I paid for mine!
Old dude trying to help but ain’t got the cash to begin with. 👎
And the worst part is that this could all go away with the stroke of a pen. But instead it'll only get worse
If you take the risk you take the outcomes. Things were so much better with a limit, but now it is out of control and people sign up not understanding what they're getting into.
With the first one I would like to know why the son with a degree in biology is not helping with the payment of that loan?
Chances are likely with his biology degrees, he cannot find work in his field and is probably at minimum wage somewhere.
the dad has the son's student loan, willing to bet the son is buried with cc (*credit card) debt, car loan debts, mortgage debts, etc. ..... (*and the list goes on and on and on)
Once a warden, now a prisoner in shackles of debt
Excellent way to put it.
Boo, hoo, hoo, - You READ and SIGNED the student loan agreement that is YOUR problem not ours.
Oh, but it is all our problem. With other counties around the world having figured out their advanced education China will ha e it over on us in Space,, science and technology. You were not a farmer during the depression, you were not all the services others have provided for you. You are not an island. The system worked for you. Great. There is a diversity and a wisdom in life and you are blind to. Your Doctor or the next person that saves your life someone outside of your isolated unconnected existence has lived a different path with a different purpose. Are you saying all the people, the A and B students in high-school suddenly all at the same throughout multiple generations suddenly became too stupid too lazy to know how to pay a loan back ha! Life insurance industry is now targeting a human lifespan to be 120 years old. Sure hope you don't outlive that little pot of gold there you have, but according to you you are in control of everything, even the stock and commodity and financial markets not to mention health, there are forms of capital beyond the currency of money and the time and the particular vortex you were in. If you acknowledge this as a crisis you would have some other solutions. Info is all over the web documenting American education advanced developing helpful solutions, as have other developed counties who will be running the USA as we have not been able to address this crisis for what it is and how it will bankrupt America to no longer be able to .are an advanced or lifelong education that will be required to play on the world stage. Stop denying this crisis and be part of the solution by taking an earnest look at the rest of everyone else situation.
The biggest threat to public higher education in the U.S. is student debt. With $1.7 trillion in education loans, some 45 million Americans carry a burden that is crushing to many - especially rural, first-generation and urban students of color.
@@karenhansen4770 Don't sign the for any loan unless you can pay it back. Many have what makes them so special ?
@@aaa7189 You either did not read or understand. Poverty makes someone special? Being given a stacked loan structure makes someone special? Why aren't you asking that of all the gamblers and hustlers and unsuccessful business owners why they are so special that they have their loans forgiven all the time. What is it about Fred Flintstone Cave people like yourself that doesn't get an advanced education is why America is a super power. We ought to be able to provide incentives for people to develop themselves for the betterment of society and keeping . You want a Chinese owned space fleet patrolling the skies you want then in charge of the internet. Other counties value and respect their A and B students a d what they do for civilization.
@@karenhansen4770 I paid for my education, and many others also, why should we pay for theirs...its a tough world, be responsible for your own actions
@@karenhansen4770 why should I care about what China is doing?
Student's go to trade schools start making decent money faster college isn't for everyone a lot of the degrees are absolutely worthless they won't even get you a job TRADE SCHOOLS..THAT'S THE KEY TO YOUR FUTURE. GOD BLESS.
So, who do they want to pay the for their debts? The old can't pay his son's student loan because he's horrible with money. Compound interest works the same for both debt or investment. The old man and the lady should know better.
yes, that old guy seemed so clueless and they both want someone else to pay their debt.
Many colleges have huge endowments. Why? There's your student loan payback
college is useless. My cousin who is 19 just got hired by Dude Perfect with no college.
I suppose we no longer need Doctors, Lawyers and Engineers? Oh yeah, we can always hire the Chinese and Indians and Russians for that! Let's make sure we can all fix the fancy plumbing in their mansions. And forget national security when we do not even have computer scientists to maintain and improve our electrical grids! Yea! 🙄 Think about what you are saying.
One of the things that I hate is debt. It's good that I got a financial assistance from my college school in exchanged of working in the registrar every end of semester plus I did work in three different fastfood restaurants during my whole college years to support my financial needs such as my room apartment. Ugh! it's hard but I had no choice. For those who are struggling, don't worry all is well you'll make through it. Keep grinding and never lose hope! ✨🙏
“Department of Education “ my ass more like Department of Scam
I might not be opposed to some funding to reduce the interest by 50% with the government and the lender each contributing equally toward this relief.
MY TEACHES NEVER TOD ABOUT THE USE AMOUNT OF DEBT COMING WITH COLLEGE.
Well if we stopped bailing colleges out we wouldn’t have this problem but because the government bails colleges out then it becomes a political issue
Title makes no sense
Welcome to Biden's fascist America
@@brad3378 Thought Biden was the "communist." 🙄
How does a school bus driver have 2 back to back accidents? Was she in the bus?
Interest compound is extortion. I want to pay for my debt I just don’t wanna be taken advantage of. If it was not advantageous to buy debts, we wouldn’t have so many companies interested in doing so. It’s a way to keep the SUPER rich on top and keep the population under control. Do we have any other way to deal with money without having to use a bank and pay their fees.?
It's basically loan sharking like the mafia!
No one here was forced to get a loan.
If you took out a student loan then pay the damn thing back. You're not owed ANYTHING.
You would have your work cut out for you to find a worse investment but it is a voluntary and binding legal contract .In a just world you should only have to pay what you borrow ,compounding interest is legal financial predation.
The loan business has caused so much grief
University education has paid off so well in government as well as community building.
If a student takes out a loan to go to college then they need to pay off the loan but get rid of the interest rates so they can pay it off.
Or they could just honor their financial obligations and quit being parasites to society
Or at least drop them low.
@@brad3378 Literally no one takes out loans to be a parasite on society like you are, but life happens and unlike other debt, student loans can't be discharged in bankruptcy. I know teachers and nurses who struggle to pay student loan debt. Would you call them parasites?
@@LulaMae21
I am not a parasite because I pay all of my bills and I am debt free. Now these incompetent idiots want me to pay for their bills too! Hell no!
Getting a college doesn’t hold the prestige that it did before. Unless you’re going to become a doctor, nurse, law, engineering or STEM, it’s not worth it. It’s best to go to a trade school or become an entrepreneur. #debtfree #crypto #invest
Things got "testy" when the Department of Education suddenly became the world's second biggest BANK!! That's some "public agency"ya got there, Guido!
They are screwed.
Two words that will bring in more money than you pay out guaranteed - TRADE SCHOOL.
You forgot to mention that in trade schools you might actually have to work and not just sit at a desk with a monitor 😂🤣😂🤣
@@alanl3511 That's what it should all be about. Right? Work ethic that can lead to a good life and good retirement with good morals.
What degree was the loan paid to get? If one can't make back the money to pay for the loan, it's a bad investment.
All the "free" tuition stuff, and loan forgiveness, for some people eventually drive up the tuition for everyone.
My suggestion is to pay your Student's loan weekly. Divide your monthly payment by 4 & pay your loan weekly. When you can, increase your weekly payments. The more you pay the sooner you'll lower your balance.By paying weekly you lower your interest expense & your principal balance too. Whenever you receive extra $$, i.e. Tax Return apply it to your Student's loan.