(First let me say, my stepsister is a great person) My stepsisters grandpa left her with all of his money to pay for college, but she spent lots of that money on a really expensive car/insurance for that car, and clothes, and now she might need to take out loans her last year in college
Or at least, if you need loans to live off of, be very responsible. Get scholarships so you can spend as little of those loans as possible. You can either return the money if you find yourself with extra cash.
For all you high school students out there. If you are not absolutely sure that you’ll be able to afford university comfortably (if your parents are rich/full scholarships), go to two years of community college, get a job no work your butt off and save every penny. I did that and have now transferred into a four year university with zero dollars in debt. And be wary of the “full scholarships” because they often only cover tuition which means that’ll the rest of the expenses (meal, housing, transportation, etc.) will have to come out of your own pocket. Just something to think about if you’re someone like me who hate knowing that you are attached to debt and won’t be able to sleep in peace because of it. Also, if your school’s meal plan is over $1,000, eat ramen lol desperate times calls for desperate measures. You’ll thank yourself later when you can enjoy all your income while your peers eat ramen to pay off their student loans.
Enticingmay depending on your state, moving from community college to a state university is almost guaranteed! You’d only be paying for an additional 2 years (if you major in the same field as your associates). I lived in North Carolina.
I have two friends who got "full rides" but then found out they have to live on campus and pay thousands a year on room and board. Also tuition doesn't always include the room and board costs so be wary. I though I'd be paying 17k a year but am actually doing closer to 27k a year. EDIT: friends not fiends
The first point about reading your financial aid letter carefully is so important! When I first received my letter from the private liberal arts college I was planning to attend, I had thought that I was going to get more than half of tuition off, since that was the total at the bottom of the paper. Upon a second look a few weeks later, nearly half of that "total" was from loans that I would have to take out. I ended up freaking out and withdrew (I had already paid $200 deposit unfortunately). I took a break for a semester and went to community college, and I can honestly say its the best decision I've made. I have no student loan debt, found the field of study that I love (in which my CC has a great progam--Environmental Science) without paying thousands of dollars for the first year of fumbling around for a major, made genuine connections with professors because of the small class sizes and been able to travel because I chose to forgo going to 4 year college right away.
Student loans are terrible. I was able to pay off all of my student loans from my Master's and doctorate by living at home and spending all my money on it but I don't think students should have to do this.
Man... as an european I feel so fortunate right now. Good luck fellow students from the US, you're fighting an unfair battle but you can still succeed!
its still crazy to me that education is still a matter of money in america.. i pay 300 euros per semester here in germany and that pays for all my uni materials and a semester ticket for all public transport in my area. the only real cost i have is normal cost of living.
halsti99 yeah but you have to admit that here in Germany money still is a big deal(way smaller than in the States but still). It is way easier to geht higher education if you come from a wealthy or slightly over average earning family. Education is a matter of money. That already starts at school, Kids from poor familys have a more difficult path than their classmates.
In Russia education is just free. Everyone gets a scholarship if just studies well. My uni also pays me for going to Germany to do some sceince every semester)
It's not all of the US. Some states (Georgia, Florida, Tennessee) support education, which makes higher education affordable for students with certain grades. Other states don't support their students at all which makes it difficult for the average person to pay. Remember, the US is big and our state governments have have a bit of independence, so it's rare for "all" of the country to work in the same way.
I know! Right? I left Poland to study in USA which ended up with student loans. Just when I was finishing studies in America I went for a presentation on education in Finland led by Finish minister of education and found that that studying there is free for everyone including international students!!!! Oh well. Today I’m finding out that paying off student loans in America results in lower credit score. I was convinced of the opposite! How can one win??
They usually have a minimum plan that is required of all students living on campus. It's not usually much and can save you a lot of money each semester. You would need to see your housing or student accounts office. If you can get a medical note stating you should not be on a meal plan, you can be released. It just takes some creativity. The rule to have meal plans be mandatory for students living on campus is to ensure that no student goes hungry throughout the semester.
Fern Honegger You can always choose to go on the harder way. But if your parents are poor, you cannot choose to go on the easier way. You can deny their money support, but it doesn’t make it any easier for another, less fortunate student. Actually you are using scolarship you don’t really need, so another, actually poor student cannot get it.
Fern Honegger So basically you have poor parents. I don’t know what are you arguing about then... You are the exact kind of person who I am talking about, who might be a capable student, but held back because of other people’s financial situation.
Fern Honegger Okay, I got that, but that has nothing to do with anything here. If your parents would be actually rich, you would have no issues. In a fair educational system it wouldn’t matter at all.
One small but VERY important note that some student's forget: be careful if you're returning/cancelling loan funds that're used to pay your bill. If you want to cancel and return loan funds, make sure with your bursar/student accounts office that you won't owe the school. To make it simpler: you asked your friend for some cash pay for ice cream, then you tell your friend "never mind, I don't want to borrow your money!" - but the ice cream shop has already prepared your scoop and they need to be paid too... be prepared to come out your pocket for that ice cream! Also be careful when returning your "refund," aka excess aid. If your school already gave YOU the money, that means YOU have to give it back to the school so they can give it back to the government. I'd like to think that all schools will tell you that before sending the funds back and slapping you with a bill, but it's worth it to keep in mind!
One thing I always want to mention, with the large caveat that this is not applicable to all, is don't automatically be afraid of the list price tag on the Harvards and Yales of the US. Most of those types of very wealthy and high ranked schools will provide no to minimal loans for "lower" income students (lower in some cases being in the less than $60+ family income range), and often for the lower end of that and below will provide near full coverage in grants and scholarships. For reference, my school was about $55k a year when I started, and my parents expected contribution was about $4k a year, and anything above that was covered by non-loan aid. And also, once I moved off-campus, any aid offered past tuition and fees was reimbursed to me in cash to cover rent/groceries. Again, if that's not within the schools you expect to get into, this is not applicable, but I like reminding people that those super expensive schools are not as expensive to most. Because they care far more about keeping their rank high, which means getting the students that they picked out, not just who can afford it. And making it financially feasible for them to graduate, since that affects it too.
My school has a portal where we can apply to 600 scholarships with one form. This will be my first time I’m able to do it. I’m hoping for a good outcome and I’ll continue to pay on my student loans and apply to outside scholarships.
VERY IMPORTANT. Federal loans are not bankruptable. You’re stuck with them for life. And if they go into default the Dept of Education can take your tax return and up to 15% of your paycheck each payday until they’re paid off.
Im starting my second semester of grad school and paid off my first. Feels so good. Next semester calls for $6000 and all i need is just $1500 left! Plus my grades are great!
If you are permanently disabled you can get your loans forgiven but, if you go back to school then your loans become due again also, if you are a teacher working in a school that is in an impoverished area you can have them forgiven. There are other ways to have your loans forgiven but they vary from state to state and are worth researching. Also, if you are on public assistance you are exempt from paying them back or you can prove that paying them back is a financial burden for example you are taking care of a disabled family member especially a child.
So many more questions I can’t agree with the title everything you need to know. For instance with income based repayment after you make the 20-25 years worth of payments what happens with the forgiveness because I have been told that you pay taxes on “the gift”.
I know its tough and not easy, but try and pay cash for your education. Look for scholarships. Work while you school, pay it off as you go. In terms of repayments be careful. Your secretary of education just tried to take loan forgiveness away from you. It failed, but don't think for one second they won't keep trying. Do not bet on loan forgiveness saving you, plus that assumes you make every payment on time for 10 years. Life happens and I don't like those odds.
wow. as much as i hate the fact that the uk has high tuition fees, im incredibly grateful that you only start paying it back once you're earning about £27,000, and even then the amount you pay back is worked out depending on your income. and the loan is written off after 30 years! feeling very grateful right now.
My credit is perfect. I'm thinking about going to nursing school. It's a private school and cost $140k. What % of my schooling can I put under federal before I tap into private loans?
Rule #1. Make your government pay for your education. Education schould be free for every citizen! Here in Russia we can get one bachelor, one master, one PhD and one technical college degree for free. With scholarship. With almost free accomodation. For everyone. Thank you for this video! It is really interesting - how it works in USA. I was familiar with European and Chinese systems only.
I work for a nonprofit so I am wondering how do we tell which loans may be forgiven after the ten years? I want to pay down my debt as much as possible so if anyone as any info that would be great. ☺️
@Ashley Marshall: I did the research and that's actually no longer true. "Today, Sallie Mae and Navient operate as separate entities. So if you're applying for a Sallie Mae loan, know that it's a private loan through a private lender. If you're hoping to get a federal student loan, you'll need to fill out the FAFSA..." Source: www.nitrocollege.com/blog/difference-sallie-mae-navient
Jacqueline right BUT my loans used to be Sallie Mae that became Navient. So it depends on if the loans are a few years old or not. New loans: private. Older ones: federal
Question - is it possible to pay off interest that has capitalized on a loan? Once the full interest amount has been paid, will interest continue to accrue regardless? I have a few loans that are in repayment right now, and I've been saving mini debt snowballs to throw directly onto the interest that has grown on each of them… I have not found any resources from my lender saying that this works, and also I'm just skeptical about any advice lenders give me anyway
You don't want to throw money towards the interest, you want the money to be applied towards the principle of the loan because that reduces the overall interest that will accrue throughout the life of the loan. Depending on the state you're in (for the US), extra payments automatically gets applied to the principle (by law), but I still make sure to double check that it's in the loan agreement when I (or my friends whom I'm helping) are looking at loans.
Please answer me. So if one works for a not for profit or the government.. after 10 years of paying student loans the rest is forgiven ? So..What if you work for a public sector ? After how many years is the remainder forgiven if you work for a public or private sector ? And Why doesn’t everyone then just aim to work at a not for profit or the government? 🤔 I’m confused.
I want to be a vet but it's crazy expensive so and I don't come from a rich family so idk if I should get loans or look for a career change. I'm looking at finacial aid and grants for African Americans but I still don't know.
Don't be a stupid kid blindly getting into insane amounts of student loan debt because "that's just what you have to do to go to school." Look into your options. Apply for EVERY scholarship you can. Look into going to community college. Don't make your life a million times harder like I did :(
If you're not doing the public interest forgiveness program, any forgiven student loans will count as income. This means you will be taxed on the amount forgiven.
so my school is offering me $41,000 which cuts my cost down to about $13,000 per year and I am terrified because my family is not showing any sign of wanting to pay.they said community but the community college does not have my major. i am trying to apply for last minute scholarships (it being late May and all) and i am trying to consider whether or not student loans are worth it and where to look. if anyone can please help me that would be great bc i am having breakdowns from the panic and worry my family is causing me.if i do take out loans it would be between $5000-$8000 but i would still need advice, please and thank you.
take community college, get gen eds done, then transfer after 2 years and finish the last two years at a uni with classes based on what youre doing, not sure if this is too late or anything
I found if you have a co-signer or good credit on your own you can get private student loans for half the interest rate that federal loans gouge you with. Federal is at nearly 10%, my loans are literally under 5%
What should I, an European student, do to find a way to pay for a residency in the US? In Italy there is no way you pay that fuckload of money so I don't know if banks are used to give hundreds of thousands of dollars in loan for studying. I mean, in Italy an avarage salary is 29k while in America is 58k. I'm already studying med and the USA are as always advanced af, so it d be a big chance for doing something cool. Do I just have to accept the fact the most of Italians are probably fucked from the beginning or is it just me who thinks that is gonna be super difficult?
It's not based on how much you owe, but the total amount of interest that you paid that can be written off. It's one of the biggest things that you can write off, the other being mortgage interest.
Okay, but why would you risk taking out a loan or paying debt for longer to get a tax benefit, when you can just find other similar options that won't have as much risk?
I have federal loans for school and the most that I could write off is like $2,500 per year...it's not much since I have over $20,000 of interest currently. It would be foolish to get loans just for the tax benefit from paying interest.
1. Do not live off your loans! I knew people that used their loan money to party, do not do that! They regret it now.
I read some articles a while ago about students using their loans for school to "invest" in Bitcoin (yes, seriously!)
(First let me say, my stepsister is a great person)
My stepsisters grandpa left her with all of his money to pay for college, but she spent lots of that money on a really expensive car/insurance for that car, and clothes, and now she might need to take out loans her last year in college
lmao people like that are so stupid welp
@@kingofspades9720 Only her last year? It is not that bad
Or at least, if you need loans to live off of, be very responsible. Get scholarships so you can spend as little of those loans as possible. You can either return the money if you find yourself with extra cash.
For all you high school students out there. If you are not absolutely sure that you’ll be able to afford university comfortably (if your parents are rich/full scholarships), go to two years of community college, get a job no work your butt off and save every penny. I did that and have now transferred into a four year university with zero dollars in debt. And be wary of the “full scholarships” because they often only cover tuition which means that’ll the rest of the expenses (meal, housing, transportation, etc.) will have to come out of your own pocket. Just something to think about if you’re someone like me who hate knowing that you are attached to debt and won’t be able to sleep in peace because of it. Also, if your school’s meal plan is over $1,000, eat ramen lol desperate times calls for desperate measures. You’ll thank yourself later when you can enjoy all your income while your peers eat ramen to pay off their student loans.
Yasss! I'm going back for a degree (reimbursed by work) and community college is the way to go!
#strugglemeals can be healthy if you have time to prep - 45 minutes or a pressure cooker overnight makes a healthy + cheap meal for a few days
I would give this a million thumbs up!! I agree to this a lot. I am also going to community college and transferring hehe.
Enticingmay depending on your state, moving from community college to a state university is almost guaranteed! You’d only be paying for an additional 2 years (if you major in the same field as your associates). I lived in North Carolina.
I have two friends who got "full rides" but then found out they have to live on campus and pay thousands a year on room and board. Also tuition doesn't always include the room and board costs so be wary. I though I'd be paying 17k a year but am actually doing closer to 27k a year.
EDIT: friends not fiends
The first point about reading your financial aid letter carefully is so important! When I first received my letter from the private liberal arts college I was planning to attend, I had thought that I was going to get more than half of tuition off, since that was the total at the bottom of the paper. Upon a second look a few weeks later, nearly half of that "total" was from loans that I would have to take out. I ended up freaking out and withdrew (I had already paid $200 deposit unfortunately). I took a break for a semester and went to community college, and I can honestly say its the best decision I've made. I have no student loan debt, found the field of study that I love (in which my CC has a great progam--Environmental Science) without paying thousands of dollars for the first year of fumbling around for a major, made genuine connections with professors because of the small class sizes and been able to travel because I chose to forgo going to 4 year college right away.
Student loans are terrible. I was able to pay off all of my student loans from my Master's and doctorate by living at home and spending all my money on it but I don't think students should have to do this.
Man... as an european I feel so fortunate right now.
Good luck fellow students from the US, you're fighting an unfair battle but you can still succeed!
Don't feel sorry for us. There are many ways to pay for college in the US, loans are just one of them.
I work in the Financial Aid Office at a large university and boy am I glad you made this video. This video answers 99% of the questions we get!
its still crazy to me that education is still a matter of money in america.. i pay 300 euros per semester here in germany and that pays for all my uni materials and a semester ticket for all public transport in my area. the only real cost i have is normal cost of living.
halsti99 yeah but you have to admit that here in Germany money still is a big deal(way smaller than in the States but still).
It is way easier to geht higher education if you come from a wealthy or slightly over average earning family.
Education is a matter of money.
That already starts at school, Kids from poor familys have a more difficult path than their classmates.
In Russia education is just free. Everyone gets a scholarship if just studies well. My uni also pays me for going to Germany to do some sceince every semester)
It's not all of the US. Some states (Georgia, Florida, Tennessee) support education, which makes higher education affordable for students with certain grades. Other states don't support their students at all which makes it difficult for the average person to pay.
Remember, the US is big and our state governments have have a bit of independence, so it's rare for "all" of the country to work in the same way.
Deidra Bee I honestly feel like education isn’t much of a priority so it hasn’t fight up to the increasing cost of college
I know! Right? I left Poland to study in USA which ended up with student loans. Just when I was finishing studies in America I went for a presentation on education in Finland led by Finish minister of education and found that that studying there is free for everyone including international students!!!! Oh well. Today I’m finding out that paying off student loans in America results in lower credit score. I was convinced of the opposite! How can one win??
Biggest rule: adjust your lifestyle so you can make payments, and add extra to cover interest, or you will be screwed in so many ways.
the first semester of college pretty much left me dry. If meal plans weren't mandetory, i'd be eating ramen.
They usually have a minimum plan that is required of all students living on campus. It's not usually much and can save you a lot of money each semester. You would need to see your housing or student accounts office. If you can get a medical note stating you should not be on a meal plan, you can be released. It just takes some creativity. The rule to have meal plans be mandatory for students living on campus is to ensure that no student goes hungry throughout the semester.
I could try that. I’m vegan and the dining hall food usually doesn’t work for me anyways so I will try to argue that. Thank you for this tip.
Rule #1:
don't be poor
Jason Fan Club We are talking about students. So Rule #1: don’t have poor parents...
Fern Honegger You can always choose to go on the harder way. But if your parents are poor, you cannot choose to go on the easier way.
You can deny their money support, but it doesn’t make it any easier for another, less fortunate student. Actually you are using scolarship you don’t really need, so another, actually poor student cannot get it.
Fern Honegger So basically you have poor parents. I don’t know what are you arguing about then... You are the exact kind of person who I am talking about, who might be a capable student, but held back because of other people’s financial situation.
Fern Honegger Okay, I got that, but that has nothing to do with anything here. If your parents would be actually rich, you would have no issues. In a fair educational system it wouldn’t matter at all.
Actually if you're poor you get federal grants. Which you don't need to pay back.
One small but VERY important note that some student's forget: be careful if you're returning/cancelling loan funds that're used to pay your bill. If you want to cancel and return loan funds, make sure with your bursar/student accounts office that you won't owe the school. To make it simpler: you asked your friend for some cash pay for ice cream, then you tell your friend "never mind, I don't want to borrow your money!" - but the ice cream shop has already prepared your scoop and they need to be paid too... be prepared to come out your pocket for that ice cream! Also be careful when returning your "refund," aka excess aid. If your school already gave YOU the money, that means YOU have to give it back to the school so they can give it back to the government. I'd like to think that all schools will tell you that before sending the funds back and slapping you with a bill, but it's worth it to keep in mind!
One thing I always want to mention, with the large caveat that this is not applicable to all, is don't automatically be afraid of the list price tag on the Harvards and Yales of the US. Most of those types of very wealthy and high ranked schools will provide no to minimal loans for "lower" income students (lower in some cases being in the less than $60+ family income range), and often for the lower end of that and below will provide near full coverage in grants and scholarships.
For reference, my school was about $55k a year when I started, and my parents expected contribution was about $4k a year, and anything above that was covered by non-loan aid. And also, once I moved off-campus, any aid offered past tuition and fees was reimbursed to me in cash to cover rent/groceries.
Again, if that's not within the schools you expect to get into, this is not applicable, but I like reminding people that those super expensive schools are not as expensive to most. Because they care far more about keeping their rank high, which means getting the students that they picked out, not just who can afford it. And making it financially feasible for them to graduate, since that affects it too.
My school has a portal where we can apply to 600 scholarships with one form. This will be my first time I’m able to do it. I’m hoping for a good outcome and I’ll continue to pay on my student loans and apply to outside scholarships.
website?
Can you share the website
VERY IMPORTANT. Federal loans are not bankruptable. You’re stuck with them for life. And if they go into default the Dept of Education can take your tax return and up to 15% of your paycheck each payday until they’re paid off.
Im starting my second semester of grad school and paid off my first. Feels so good. Next semester calls for $6000 and all i need is just $1500 left! Plus my grades are great!
If you are permanently disabled you can get your loans forgiven but, if you go back to school then your loans become due again also, if you are a teacher working in a school that is in an impoverished area you can have them forgiven. There are other ways to have your loans forgiven but they vary from state to state and are worth researching. Also, if you are on public assistance you are exempt from paying them back or you can prove that paying them back is a financial burden for example you are taking care of a disabled family member especially a child.
Thank you. Just. Thank you
So many more questions I can’t agree with the title everything you need to know. For instance with income based repayment after you make the 20-25 years worth of payments what happens with the forgiveness because I have been told that you pay taxes on “the gift”.
I know its tough and not easy, but try and pay cash for your education. Look for scholarships. Work while you school, pay it off as you go. In terms of repayments be careful. Your secretary of education just tried to take loan forgiveness away from you. It failed, but don't think for one second they won't keep trying. Do not bet on loan forgiveness saving you, plus that assumes you make every payment on time for 10 years. Life happens and I don't like those odds.
wow. as much as i hate the fact that the uk has high tuition fees, im incredibly grateful that you only start paying it back once you're earning about £27,000, and even then the amount you pay back is worked out depending on your income. and the loan is written off after 30 years! feeling very grateful right now.
My credit is perfect. I'm thinking about going to nursing school. It's a private school and cost $140k. What % of my schooling can I put under federal before I tap into private loans?
Rule #1. Make your government pay for your education. Education schould be free for every citizen! Here in Russia we can get one bachelor, one master, one PhD and one technical college degree for free. With scholarship. With almost free accomodation. For everyone.
Thank you for this video! It is really interesting - how it works in USA. I was familiar with European and Chinese systems only.
Do you guys have resources to caption videos? I know it's really taxing and takes a lot of time, but it makes the video more clear and accessible
+
Great video! Just shared a similar video for all my Canadians out there 🇨🇦
I am using the IDR plan and you DO NOT need to consolidate your loans to use this program...
Whether or not you have to consolidate depends on when you first took out your student loans.--Tasha
BEST ONE YET!! Thanks for the information and presenting it in such an "easy to understand" way!
I work for a nonprofit so I am wondering how do we tell which loans may be forgiven after the ten years? I want to pay down my debt as much as possible so if anyone as any info that would be great. ☺️
The Public Service Loan Forgiveness program only applies to federal government loans...so no private loans like Sallie Mae, for example, would apply.
Sallie Mae that is now Navient is Federal. Check the NSLDS website. If it’s federal, it’ll be there and it’s applicable.
@Ashley Marshall: I did the research and that's actually no longer true. "Today, Sallie Mae and Navient operate as separate entities. So if you're applying for a Sallie Mae loan, know that it's a private loan through a private lender. If you're hoping to get a federal student loan, you'll need to fill out the FAFSA..."
Source: www.nitrocollege.com/blog/difference-sallie-mae-navient
Jacqueline right BUT my loans used to be Sallie Mae that became Navient. So it depends on if the loans are a few years old or not. New loans: private. Older ones: federal
Thanks guys! I will definitely have to check out that website over the weekend then. ☺️
Thank you for this video! Any weekend job/gig job ideas for someone who already works M-F 8-5?
Thank you!!! I've been asking for this for a long time!
But there is still so much more you could have touched on! Gear this toward high schoolers. They are the ones who need it!
Question - is it possible to pay off interest that has capitalized on a loan? Once the full interest amount has been paid, will interest continue to accrue regardless? I have a few loans that are in repayment right now, and I've been saving mini debt snowballs to throw directly onto the interest that has grown on each of them… I have not found any resources from my lender saying that this works, and also I'm just skeptical about any advice lenders give me anyway
You don't want to throw money towards the interest, you want the money to be applied towards the principle of the loan because that reduces the overall interest that will accrue throughout the life of the loan. Depending on the state you're in (for the US), extra payments automatically gets applied to the principle (by law), but I still make sure to double check that it's in the loan agreement when I (or my friends whom I'm helping) are looking at loans.
Thank you! That gives me some more clarity
Thank you for the video! Can you do one on paying back loans. Or rehabilitating defaulted loans?
You basically paid off most of your debt with the 10 year payments to get the remainder forgiven.
That's not necessarily true. It depends on your starting loan balance and interest rate.--Tasha
Please answer me. So if one works for a not for profit or the government.. after 10 years of paying student loans the rest is forgiven ? So..What if you work for a public sector ? After how many years is the remainder forgiven if you work for a public or private sector ? And Why doesn’t everyone then just aim to work at a not for profit or the government? 🤔 I’m confused.
Thank you so much for this! This is so timely as I am about to apply for schools. :-)
What about repayment options for private loans? Could you do a video about that?
I want to be a vet but it's crazy expensive so and I don't come from a rich family so idk if I should get loans or look for a career change. I'm looking at finacial aid and grants for African Americans but I still don't know.
Any chance you could make a video on tackling a large parent plus loan???
Great info about refinancing student loans! Student loans are tricky. Best to get rid of them quick!
yeah but where'd you get your sweater
Don't be a stupid kid blindly getting into insane amounts of student loan debt because "that's just what you have to do to go to school." Look into your options. Apply for EVERY scholarship you can. Look into going to community college. Don't make your life a million times harder like I did :(
If you're not doing the public interest forgiveness program, any forgiven student loans will count as income. This means you will be taxed on the amount forgiven.
Yeah, though that tax bomb won't come until after 20-25 years...still, it is important to consider.
Whats the best student loan to apply for in NYC?
so my school is offering me $41,000 which cuts my cost down to about $13,000 per year and I am terrified because my family is not showing any sign of wanting to pay.they said community but the community college does not have my major. i am trying to apply for last minute scholarships (it being late May and all) and i am trying to consider whether or not student loans are worth it and where to look. if anyone can please help me that would be great bc i am having breakdowns from the panic and worry my family is causing me.if i do take out loans it would be between $5000-$8000 but i would still need advice, please and thank you.
take community college, get gen eds done, then transfer after 2 years and finish the last two years at a uni with classes based on what youre doing, not sure if this is too late or anything
I just want to know, is student how most college students travel?
Fantastic video on navigating what is, frankly, an evil system. I love this channel.
can you show me script of video, please . There are many words i did not hear clearly. Thank so much!
Great video
Go to a school you can afford! Don’t borrow money for a bachelors degree
I should send you the info from the website you recommended. It makes no sense. It does not tell you how much you owe collectively
Got a robo call just today about help to pay off my student loans...I don't even have student loans. Yet.
Joanne the Scammer 😂😂
4:25 can we just appriciate joanne in all her glory
Borrowers beware - federal student loans are secured loans. If you default the government can and will garnish wages.
I found if you have a co-signer or good credit on your own you can get private student loans for half the interest rate that federal loans gouge you with. Federal is at nearly 10%, my loans are literally under 5%
What should I, an European student, do to find a way to pay for a residency in the US?
In Italy there is no way you pay that fuckload of money so I don't know if banks are used to give hundreds of thousands of dollars in loan for studying. I mean, in Italy an avarage salary is 29k while in America is 58k. I'm already studying med and the USA are as always advanced af, so it d be a big chance for doing something cool. Do I just have to accept the fact the most of Italians are probably fucked from the beginning or is it just me who thinks that is gonna be super difficult?
Liberal arts
First 😂 finally once in my life
This doesn't include the tax benefit for student loans. Kind of misleading video. That tax benefit is a huge incentive.
yeah they should have mentioned that too, since many people probably don't know about it.
How big is it? I had $40k of student loans when I graduated and didn't particularly notice it helping me out
It's not based on how much you owe, but the total amount of interest that you paid that can be written off. It's one of the biggest things that you can write off, the other being mortgage interest.
Okay, but why would you risk taking out a loan or paying debt for longer to get a tax benefit, when you can just find other similar options that won't have as much risk?
I have federal loans for school and the most that I could write off is like $2,500 per year...it's not much since I have over $20,000 of interest currently. It would be foolish to get loans just for the tax benefit from paying interest.
At this point there’s no excuse to take our tens of thousands of student loans. If you can’t afford college...you can’t afford the loans either.
Joanne the scammer 👏🏾
You talk too fast!
How about don’t take out loans in the first place.
how else am i gonna afford a top 20 :((
Women hold the majority of student loans! Lmao, take that feminist!