Solving Student Debt
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- เผยแพร่เมื่อ 21 ต.ค. 2019
- A new idea called "income share agreements" could help solve the student debt crisis.
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Student loan debt keeps growing!
President Obama blamed that on greedy bankers -- "unnecessary middle men".
Senators said they'd fix things. “Take the banker out of the picture, because they’re taking a profit!” shouted Sen. Durbin. He and Obama got their way, and the government took over student loans in 2010. President Obama promised “We’ll save American taxpayers 68 billion dollars."
But the government takeover didn’t save tax money. Student debt just kept rising.
Part of the problem is that cheap government loans invite students to take on debt without even thinking about whether they will earn enough money to pay it back.
Democratic Presidential frontrunner Elizabeth Warren wants to solve the massive student debt problem by having government forgive nearly all of it. That'd cost taxpayers a massive $1.25 trillion.
A better solution, says Beth Akers, author of "Game of Loans" and a Senior Fellow at The Manhattan Institute, is something called an ISA: an "Income Share Agreement".
ISAs mean, instead of incurring loan debt, students agree to pay a percentage of their FUTURE income.
"The ISA is a way for the school to say to [a student], 'you're only going to pay us if we help you succeed,'" Akers explains.
Private computer coding boot-camps already do that. Now universities are experimenting with ISAs.
A big benefit is that the lenders have skin in the game -- they care about being paid back. They guide students to higher paying careers, and warn them that some majors probably won’t lead to jobs that pay as well.
At Purdue University, English majors with a $10,000 ISA loan must pay, after graduation, 4.58% of their income for 116 months. Math majors pay less--3.96% for 96 months. The difference, of course, is because students majoring in math are expected to earn more; investors expect they'll need less time to recoup their investment.
Two students with ISAs told me they much prefer ISAs to debt.
"It is a win-win situation for everyone involved in it,” said Purdue graduate Andrew Hoyler, who's just started working as a pilot.
"We don't know who the investor is, but I'd love to give him a hug or buy him a beer or something," Engineering student Paul Laurora added.
Still, some people say ISAs are unfair. A Vice headline called them “indentured servitude."
I told Laurora and Hoyler what some critics say: "You're locked into paying all these months."
"If you're graduating and you don't have a job, you're not paying anything! Where's the servitude in that?" Paul asked.
Good point. I hope ISAs will lead to less debt and more responsible college decisions.
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Paying a private company 5% of your income over an amount of time to pay for services you voluntary sign up for: Servitude.
Paying the government 40% of your income for a lifetime due to a contract you never signed: Totally reasonable.
@@danieltarczynski6559 You can live in Somalia where the tax rate is whatever the ruling warlord wants.
Oof sarcasm has to be explained. Tetete.
@@danieltarczynski6559 in somalia we don't pay taxes, thank god, we only pay protection fee so as not to be murdered, please guys don't speak what you don't understand
@@mchurre is it 40%?
Congress: Banks are doing a bad job. We're taking over.
Student Loans: [get worse]
Congress: Banks are making everything worse. We need more control.
Matthew Mazzetti and it was only bad in the first place because of government influence forcing banks to make higher risk loans for schooling.
The government screws up anything that it touches.
Student loan did not "get worse" after the takeover. The problem is that nothing changed. It is continueing in the same bad direction.
Wait until they take over 100% of the health industry.
Congress: why are you charging so much? Why are the wait times so long for the ER?
Private ins: we are out of business. You took control of it.
Every goddamn time. And yet with all the new problems that come up, people still think that government intervention in the amswer.
I'm sorry, did I say people? I mean leftists
Question: Why are tuitions so expensive? As long as you keep feeding the beast, it'll want more and more.
If you go to a state university or college you will only pay 25% of these worthless private u can pay u can go school's. But you have to be smart enough to go to a state university, these private schools are way overpriced and will take someone with an IQ of 10 so long as they can fork over the money!
@@dude7266 most jobs now you don’t need to go into debt for.... college is a scam, it would be good with low tuition(I’ll never agree with Bernie sander free loaders) but it got out of control colleges helped bring down this country putting everyone in debt for empty promises.... they shouldn’t get paid until people are working in jobs related to their degrees, if they can’t get a job with that paper then why pay these crooks?
Italian here. You know all those "cheap" european universities and education you might have heard of? It usually means big halls with dozens, for popular classes hundreds of students. Housing is not included. Meals are not included. Books are not included. You get the speech of the teacher and the right to take an exam, and that's it. Ok, we also have the free library. All this.... for 800€ a year, not bad. I graduated with a theorical max price of 2400€ plus books, around 2000 dollars, and i assure you i knew my courses at the end of it, because i studied the books and learned the lessons.
Even so, unsurprisingly, there are not many italian university in the top rankings worldwide. We do have some universities that are ranked high though, like the "Bocconi", around 120th of the world, which means better than most universities, USA included. It's private. It is 15k a year, 7 times what i payed for my whole student experience. You get what you pay for, in life. These clowns are not asking for free or cheap education. They are asking for free private, expensive education. They could have the former, they pretend the latter.
FEEEEDD MEEE Seymore
@@dude7266 There is absolutely no reason why they can not teach the skills in the regular education system .. today even they have decided to remove writing skills because they don't believe that people should have to sign their names ETC . I asked a kid to sign something a few years ago he said they don't do that anymore and writing skills have been removed from the school's .
Thank goodness I never blindly went into debt at university. After high school I didn't know what to study so I got a job at a small warehouse. That experience got me into an even bigger company. They distributed auto parts FYI.
By age 20 I was already making $18 an hour with full benefits ( dental, vision, health, 401k ). My shift was from 5 am to 1 pm so it gave me an opportunity to sign up at my local community college. I got a certificate in Manufacturing Tech after 2 years of this. Paid my college fully thanks to my full time job.
Im currently now at a cardboard packaging plant as a machine operator. I also drive the forklifts. Now make $25 an hour. Also full benefits. All this at age 24 and no college debt. Sure im not making a killing, but at the end of the day I'm not drowning in student debt.
My younger daughter didn’t want the hassle of a four year degree and went to a makeup artist school had to learn her trade for several years but is now working in blockbuster movies with famous actors and tv shows well respected and very professional and has her own house in a safe subdivision not too far from the studios she typically works at. Has done shootings on location in several overseas locations and most of all loves her work
I got into the air force to do the same thing, avoid college debt. Got into air traffic control, which is one of the highest paid options not requiring a college degree. All with no debt.
@@bryan81584 military is equally shit as the colleges
Wow, you’re much smarter than most people your age.
I did something similar. I had a grant to a community college, where a recruiter dropped into my programming class. I applied, got the job, and at 19 had full benefits and making 22k a year (this was in late 90's). No college debt, worked my way up and now making much much more also with no school debt.
When government takes 20%+ of your income by force without your consent your whole working life they call it taxation.
And when private investors make a formal contract for paying them 4~8% of your income over a limited period of time they call it indentured servitude.
Nice.
seems legit also don't forget state tax, most people are paying at least 30% in taxes, businesses pay 60-80% on average in taxes
Edit: oh and don't forget the self employed flat 15% tax rate because reasons as well
@@Delimon007 And let's not forget all of the other taxes. Gas tax, property tax, capital gains tax, road tax, cigarette tax, food tax, tax tax tax tax tax tax. All of these are taxes on top of income that is already taxed. When you add it up, we are being taxed about 50% of our entire income. Half of the money you make is taxed. And people are asking for more taxes.
This is a case of the Frog in a pan of water on the stove.
@@salazarpayne3784
yyyuuupppp, fuck that noise
Indentured servitude was a pretty sweet deal back in the day. What's wrong with that?
@@maxscott3349 - exactly. No one put a gun to your head and forced you to do it. If you wanted to stay and live as a serf under a monarchy you could. If you wanted to risk it all for freedom, you had to pay. Often you would come away with a brand new skill that would serve you for the rest of your life. And possibly a trade for your children to inherit so that they may prosper.
"Unnecessary middlemen"
You mean like the government?
Bwahahahahah!!!!
Fact!
God replacement.... well done. Replace spirituality with Tax🤑😂
Genius. If I had no morals I would totally make a scam like that.
Exactly! The money the govt is loaning you, they're BORROWING FROM A BANK!! 🤦♂️🤦♂️🤦♂️
Thanks Obama
This is what happens when you dont teach people about money in schools
my theory is they do not teach basic finance in high school because kids might actually pay attention and the game is up....the government and banks want you in as much debt as soon as possible to own your ass....credit card companies push as soon as they turn 18 and the schools just say sign here and your future is guaranteed.
working shlub I didn’t learn shit in my economics and government class. And it was an honors class... yay for our public system education!!!
Trophy adults and mommy still matches socks or packs a tampon
This is what happens when parents allow the public indoctrination system to to the 'educating'.
Look teaching people about 2000 imaginary genders is more important.
0:42 Maxine Waters is out of touch with everything after the discovery of electricity
Didn't she try to have Benjamin Franklin burned as a witch over that whole electricity thing?
.....how is she in power politically...
And yet any Amish would be more in touch with the modern world than her.
@Rick O'Shay .... Haahaahaa...if only..
@@universeofopulence California is strange.They have Pelosi,schiff,and Maxine,and 25% of the homeless,in one state!...maybe there's a connection...
Makes too much sense it'll never take off
that's why they do it at Purdue where the students learn useful skills
Don't worry, if it gets popular, the government will put a stop to it.
This is too funny, but sadly true.
I think what you mean is that it will exclude the government.. which is the reason it'll never happen.
Yeap.
Degree: Women Studies Repayment Schedule: 30% of income for 780 months
Yeah, but 30% of $16k isn't too terrible, though it certainly cuts into the wages earned at a Starbucks.
Lol N. Jacobs missed the joke
75% for 1200 months or loan forgiveness at death.
More like 120% lol
Savage
Get rid of diversity coaches and micro aggression police! That will lower prices!
Blind Squid not anymore, no more millennials are going to college. Edgy Zoomers are now going to college.
@@diegoorellana6439 update, gen Z is filled with as many snowflakes as the millennials, they're just not the age yet where they publish it news articles across the internet
@@krismine99 I think gen z sees how stupid alot of the gen y people are and they are becoming more conservative.
Nope. The one thing will absolutely work. Is rid of loan and federal aid. Less students, less filled classes less borrowed money, means the the education system will have no choice to lower the prices.
@@diegoorellana6439 Jokes on you im 25 went to College. Im from Germany and Our school system Is hard to explain,
Him: "I am $70,000 debt!"
Me: "Who?"
Him: "Me!"
Me: "Cares"
😂
The economy is collapsing, we have the largest quarantine in human history, and this comment didn't age well. The Fed just printed enough money and tossed it into the economy to forgive all student loan debt and give Americans coverage for emergency healthcare, and who did they bail out?
The corporations and the banks. Again.
@@ProductofSeebach Thanks government intervention! You *truly* know how to manage the economy? Always destro-fixing it!
Are you still in debt ?? No worries We can help you get out of debt.
70,000 in debt guy..... Sorry you made a bad decision with your education. Now figure it out man.....it’s not the governments job to get you out of debt it’s YOUR responsibility!
Brilliant idea - let schools assume the risk of the education investment for all students. Watch the gender studies departments get axed overnight.
system sexism
@Ran Ng Those programs only serve the teachers who run them. It's a paycheck at the end of the day.
So I can't get a good job with a masters in lesbian dance theory? :)
So much wasted money. The schools love this money flowing in from the government. They want it more and don’t want it to stop. Milking it to death.
@Ran Ng You are absolutely wrong about that. If you treat a university education like a trade school, which is all about getting a job, then you are right... but there is a reason that a core part of a university education is called the "humanities". Maybe it shouldn't be about getting a job ( which rarely translates to real happiness and fulfillment), but about becoming a well-read, educated thinker...regardless of employment. The fact that you included the word "shitty" in your comment proves my point EXACTLY...
Stop going to college and taking useless courses
There was a chick at one of the dem town halls ask about student loans that said she was majoring in "empathy as communication"... it's beyond useless courses. There are entire departments and majors that are useless.
Have you been to college? You have to take a couple of useless classes in order to fulfill the credits needed to graduate
There's some universities that have a "create your own degree" program and then they bitch about wanting student loan forgiveness. It's crazy.
But i want to be a doctor
Yes, MyRedDobey chose the wrong word by saying "courses". He should have said "major". You are correct that in college as well as high school you are required to take a couple of "elective" classes. I think this is fine in high school, but when you get to college the focus should strictly be on your major and not having to pay for classes that are totally unrelated.
Hillsdale College is one of the only colleges that doesn’t take government loans and debt is one of the lowest in the US
Working at a local pawn shop I noticed a lot of the local college kids using the school credit cards to buy playstations and other stuff, adding to their debt.
True they was paying their rent ETC it was free money , I know several individuals that did that and now in life debt , the government did it on purpose to control their paycheck . 1 dollar for you and 4 For the government .
Pawn shops are cheap, and PS is cheap entertainment, so not going to complain on that one. But using a SCHOOL credit card for it is messed up. They should pull some weeds or something. Be responsible.
I used to work for a pawn shop and we'd always get a huge influx of brand new mac books being brought in when the new school year started. Turns out, people were getting grant money, buying a brand new laptop from the campus store, and then trying to sell it for cash.
"Some people say that's unfair" - those people tend to be bad at math, hence not be the math majors.
I think it falls along the lines of who's in control. If the gov't (legislative) is in control it's good, but if private industry is in control it's bad. They fail to mention that a Gov't school loan is inescapable. You have to pay it back. You can't even declare bankruptcy to get rid of it. How is that not indenture servitude? The private industry is a strict term of service. Like a person joining the military. When your contract is done, you are free and clear.
i'm a math major and i think it's unfair to forgive the loans
not about fair.... your brain should smart enough to know that in debt of all your life.... is not smart moved...
Students who miss payments are rewarded with the practice of adding the amount of the payment to the principal balance of the loan...yeah really.
I borrowed $7,500 in 1988, I have paid over $15,000 in minimum payments plus around $7,000 in confiscated tax refunds... for a total of a little more than $21,000 so far.
But because of the practice of adding missed payments and collections fees for multiple law firms who do nothing more than send a single envelope, to the principal loan balance my current balance is over $11,000
Anyone who argues that these loans are not a usurious scam or that these loans should not be forgiven is either insane, a criminal or both.
Taxation of income is an absurdity in a society that constitutionally empowers its own government to mint money...
Think about it.
Joe Biden's Chain Having common degrees is an invalid and nonsensical argument. Mechanical Engineering majors are “common” just as an English major is considered “common”. And there are women in high earning occupations, and majors by extension. I personally know women at major tech institutes, including MIT. Employers want to hire people that are able to learn, and who have common sense regardless of degree.
Funny how Maxine Waters didn't even know the legislation existed.
She should be impeached, she's unfit to serve.
It didn’t even register to her that the bank execs were stating they had nothing to do w the student loans lol. She’s an idiot
I think that's par for the course with her. She often doesn't seem to even know where or who she is.
Funniest thing is that the American people keep voting in the clowns from McConnell to gaetz to waters Pelosi aoc. Its all a circus. No one cares we just live our lives because it doesn't directly effect us.
The best part is that Maxine Waters voted yes on that bill.
“Students are not dumb, the system is complex”
Somebody explain to me how borrowing money for school is so complex that people do it without knowing they have done it.
When you’re 18 and fresh out of highschool you really are quite naive
When you are a high school student and literally everyone in your life is telling you to go to Uni, including family, school staff, and friends. And you haven't lived long enough to know what the true value of that degree is yet.
Yeah, I know we're not supposed to speak the truth anymore, but a lot of these students really are dumb... and they don't want to take responsibility for their own poor choices.
Also a lot of schooled put scholarship applications, finical aid applications, and student loan applications in the same packet. If you’re not paying attention you can easily get them mixed up.
Also half the population is below average IQ.
They know they did it, they just don't know who the lenders inside the shell companies of other shell companies are. They can't follow the paper trail.
To me, this election comes down to one question: do you want to fund liberal arts majors?
My response: Nah, I'm good
Lol. "I'm $70,000 in debt!"
Thanks for sharing, bud.
Are you an NPC?
@@technic1285 NO!
@@Islandwaterjet It's literally 2 seconds into the video.
And he probably doesn't have a degree, or he has one in Communications
@@ImTheBatchMan yeah, but for a dopey college kid that is $70k in debt, thinking for 2 seconds before you do something is a challenge
Vice calls this “indentured servitude” but taking out a loan you can’t get rid of during bankruptcy is just ok.
That just means we need to make college free. Easy!
soo dont make that choice. nobody forces a loan.
@Stool Posts Government tells bad bad greedy colleges to fund themselves and they gratefully oblige.
Indentured servitude is not a bad word. Historically, is enabled thousands to move up in the world. It does not equal slavery.
Vice also thinks student loans should be dischargeable in bankruptcy
When it comes to education, I don't have THE solution, but I have several good ideas. So do many other educators. That's why education should always be decentralized. When the federal government decides to swoop down and "fix" a problem like this, they often come up with a one-size-fits-none solution that only makes things worse.
Another example where government gets involved, cost spiral,out of control and taxpayers left holding the bag.
0:51
Best moment in history of banking.
"Quit taking useless majors and you can pay your bills."
There, fixed the title.
@rsfields2009 Except the student loan crisis is hitting even “useful” majors like medicine, law, dentistry, veterinary medicine, pharmacy, education, and more. It’s no longer a matter of dumb majors resulting in an inability to pay back loans. The price of education has increased so drastically that even formerly “lucrative” careers can have trouble paying off their loans. Technological advancement is just going to make this worse as many loans are on a 15-20 year repayment plan and who knows how many jobs will be automated by then.
Its funny how skilled tradesmen as myself don't have to worry about any of this and live quite a comfortable life.
Who would have thought that not everyone needs a collage education?
@@TGuard00014
Avg doctor wage = +100k
About 120k in debt. If you can't pay that off in 5 years or less you have issues with your finances and if your debt is even greater than that then you went to a school that was too expensive because reasons when they all offer practically the exact same thing.
@@TGuard00014 Law, useful? Maybe 50 years ago. Now there is a glut of scumbag lawyers, 3 chasing each ambulance and more still fighting for drunk drivers. If you can't pay the loans back in 2 years either don't take the loans or learn how to live on less than you make.
@@rsfields2009 I'm an electrician and do damm good for myself
unless you go to an University to Study Medicine, Law or Engineering! don't take a student loan!!
What about computer science, finance, businesses, etc?
You're basically saying "if you're poor, don't go to university".
@@jakemuffett8347 what does majoring in law, medicine or engineering have to do with being poor or rich? You test in and qualify with grades, not cash.
@@lalamclala5553 "unless you go to an University to Study Medicine, Law or Engineering! don't take a student loan!!"
There are many other incredibly necessary university subjects other than Medicine, Law or Engineering. There are also many poor students who have no choice but to take out a student loan to go to university. The OP is basically saying "if you're poor and aren't studying Medicine, Law or engineering then you shouldn't go to university".
A ridiculous statement.
@@jakemuffett8347 hahaha. Name one useful major otherwise... in order to take a loan, you must be able to pay it off. There are only two ways out of a loan. One is bankruptcy and the other is to pay it off. "Student debt forgiveness" is bankruptcy. Do you understand what it means to take a loan that you have no intent to pay off? loan shark and predatory lending is a felony for a reason. Most students take the loans with zero intent to pay the loan. If students intended to pay the loans we would not have a 2 trillion dollar student debt crisis. Bankruptcy means you will never qualify for a loan in your life. Most people would love to buy a $90,000 tesla with a loan. The bank will not approve of most people buying a tesla because they will not pay the loan. Student and car loans are the reason why the banks and auto industry received most of their bailouts.
after year 10, high schoolers should either go into college prep or vocational education. currently the last 2 years of high school are a joke.
The funny thing all of Europe and many other developed countries do exactly this. After your 16 you go to a 2 year program to specialize and then go to a 3 year undergrad program, we are just too holistic and cling to benefits of "well roundedness." They don't take 4 years of math english and 3 of science and social studies. They finish every thing by grade 10. smh
John Stossel is my man
He's Jewish but he's one of the less jewy ones
Hey hey, easy there now. He is every one's man!
My Man! th-cam.com/video/QJt--ppS9AA/w-d-xo.html
"I've read, agreed and signed a contract, that's unfair!"
Those are the same people demanding government undo their employment contracts because after they accepted the job, they realized they wanted more money. And they don't understand why, if they were hired full time with benefits, now that they get $15 an hour their hours and benefits are cut. They were hired with that promise, but they broke the contract, allowing the company to alter the terms.
And they call everyone else greedy. They must avoid a lot of mirrors.
Liz Real Girl Beauty the left consists entirely of mirrors, and they stupidly mistake their reflections for other people who somehow copy them a lot.
The counter argument is that these are contracts which were read and signed when the individual was a minor. The college pipeline starts long before the student walks through the door. I had to fill my fafsa out when I was 16.
@@bonnevillebagger9147 your failure to understand the implications of a voluntary contract should not be my problem.
You can basically use this argument for everything:
"I didn't know any better when I took the loan for buying that yacht, now everyone should pay for it but me!"
Your counter argument would only hold value, if we as a society allow minors to sign contracts for loans, which we don't. Any illegal contract with a minor is null and void.
We need to stop giving our money to other countries
True
@@joniartha3011 such as Israel
That's why people shouldn't give their money to politicians in the first place.
Politicians waste more.
Yes and no the money should be substituted with something that is hard to corrupt of
“104 months”
8.6 years. My throat closed up there for a second. It sounds better than what we got, but my god imagine a debt of almost 9 years.
You can pay it quicker the more you make
GamingRanger true. It also depends how much money you have to pay per month in those 9 years.
Tomas Gomez yeah but if you make very little then you will still be guaranteed to be done in 9 years. But if you make more then you can shorten the years.
That's still better than 10+ years.
I don't see the problem. It's way better than paying taxes the rest of your life in something or someone wich you're not going to get a direct benefit.
Government: takes over student loans and backing them
*Costs sky rockets
Government: Look what those greedy bankers did to the costs of loans! Let us fix the issue.
Old story, Failed privately=bad management, Failed government program=insufficient resources and funding
@@stuarthirsch solution form a committee, and then hire an outside Firm for a consulting job
All debts originate from banks. No exception.
Bankers: *cat sitting at dinner table meme*
It's not that simple. The government still contracts with private financiers for the loans, they just back up the loan and absolve the investor of all risk. It's an unholy alliance of Fiance and Government
I went to college by working. Made me appreciate everything about my classes and I learned more because I had to work for it. I took out small loans but I have already paid them back.
Same here except I left school when I realized that I hadn't learned anything. I traveled the world instead and eventually went into business. We need to stop telling people they NEED a college education. What we need is ambition, creativity and drive. Those things will get you all you need in order to be successful. Doctors, lawyers - sure, go to college. Everyone else can to find another way.
I personally went into the mental health field. Earning my Masters while working and I still haven't taken out any loans. People who know how to take advantage and use their psychology degree will have jobs. It won't be handed to us. I had to do hours upon hours of volunteering at crisis centers and had to apply and get accepted to be on research teams and publish in order to get into a good program. Now I am working in the field, making decent wages already, and have plenty of opportunities to move up. I love what I do and because I spent so much time on statistics and research, I know how to be the most efficient in what I do and explain why my treatment plans for people are set up the way they are.
What year did you go to college? Just curious.
@@JustAnotherHalf-LifeGuy Graduated 2016 for my undergraduate.
I'm so glad I learned accounting in high school gr8 to gr10. It was an obvious thing taught to me and my former classmates debt and interests. Investments and interests. Monetary value, loss and profit. And many more. It's made me and most of my former classmates who are done with school and persuing to continue with studying with our favored fields of studies to NOT take up loans. We know that interests stack up if we just live the college/university life and realize how bad it is once we'd be done.
Accounting should be taught in more high schools. Young people need to be empowered about their financial decisions from a younger age to avoid these types of setbacks.
@@lamingtongirl123 yes, very much. But with so much going on, conflicts with politics, race and gender, won't seem likely to happen in many school. I still find it annoying about how "Math is racist!". That in general is not only making young ones not wanna think or learn and study harder, but at some point people will dump that subject. It will mean less newer generations of accountants will happen. And with that racist thing, it's indirectly saying that poc are stupid. I take great offence to that kind of ideology being shoved down my throat
Loisie Nyami I feel that poc especially need to be the ones empowered. Imagine if there were more underrepresented minorities becoming accountants in the workforce but as I hear sadly even the other ones don’t get as promoted as much as white people once they’re in the workforce. Never mind they’ve been increasing the requirements to become certified to keep I imagine certain people out of the profession 🙄
@@lamingtongirl123 yes. Because accountants get paid really, really well in general. That's why the requirements are higher and they try to narrow down the people who want to study that field. But I do wish kids were taught on how to save their money, budget it for what they possibly need and to know the difference between want and need when it comes to spending money
@@lamingtongirl123 and tbh with you, people trust white people more with managing their money due to certain events whereas they take their job seriously. Some poc who are accountants due take their jobs seriously, not so many do. Some secretly steal money while they calculate your loss and profit. So far, if they don't to feel stigmatized by the stereotypes in place, they need to take things seriously or else people will truly not take poc seriously
who exactly forced these people to take these loans?
If you want to work within the tech industry for instance or become a doctor a university degree is pretty much required.
Still not forced.
@@froggiman1 That's a non-argument. Nobody is forcing you to buy food but you kind of have to if you don't want to become a criminal by stealing it.
Dennis Karlsson lol if you work in any of those industries you just mentioned you’re not in a hard time paying off a student loan.
@@dev8393 are you purposely ignoring the context. OP is implying you don't need to take a loan.
yeah that Ph.D in "women's studies" is sure going to take you far in life.....
Same goes for that bachelor’s in art lol
It's weirdly symmetrical that a PH.D in "women's studies" is only useful to ... teach a course in 'women's studies'. But it also means that unless the field is growing, it's a sort of Ponzi-scheme of doctorates, because if they can only teach with such a degree, then every year producing a graduating class of ... 10? They'll need to create 10 more professor-ships, which will produce 100 more doctorates in "Women's studies". What do THEY do? Expand the field by another factor of 10? They'll eventually have to seek employment outside of their field. That's just what we need, all these goddamned retarded military officers pissed off because they're working outside of their lane, and with dumbass degree specializations.
How can there even be a field in "Women's studies" if men and women are the same, and that genders are entirely made-up? They're certainly not talking about the physical differences, because that's already got a name: Gynecologist.
Ah, the "women's studies" bogeyman.
www.washingtonpost.com/news/rampage/wp/2017/04/13/what-happened-to-all-those-unemployable-womens-studies-majors/
@@MulletDeath The whole article is only showing that the students of "women studies" or other such fields are in the minority. But nobody has denied this fact.
The point, and the article is completely ignoring this, is how many of such students find "real" jobs that are not linked to education.
And it is clearly entitled to study in such a useless field and then complain about your debt
I love how an 18 year old can't buy a beer, practically live on their own, do their laundry... Yet they can decide what career they want and pay billions of dollars in loans (responsibility)
As a current student enrolled in Lambda School, I'm delighted to see Stossel covering it and the ISA agreement in depth.
I personally am not benefiting as greatly from the ISA as many of my classmates are who would otherwise have been completely unable to attend due to financial reasons. Lambda School does also offer the option to pay a fixed fee up front, currently $20k. The maximum they will receive from ISA repayment is $30k. They expect 17% of your pre-tax income for a maximum of 24 months or until the $30k cap is reached. A bit steep for someone like me who is already a high earner, but quite reasonable for someone going from earning minimum wage to suddenly earning well over $50k overnight.
It really is a great program. Although I'm already a seasoned software engineering professional with 20 years experience, I'm attending to fill some gaps in my technical knowledge and expand my skills portfolio.
Who cares if no one tells you about your lack of income as an art major. You’re an adult, you signed up for this. Grow up.
And what about indebted people in STEM fields? Fuck them I guess.
@The serpent must die aha, ok, understandable. Luckily I'm not a liberal so I can't grasp the concept. But what about self responsibility? All you're saying is that they should pay off their 100k loan. That's no different from anyone else getting a college degree and it is ONLY a problem in one western country on earth. And I don't even need to mention it because you already know which one it is.
Art major and make fun of people who choose a career painting houses at 16
Painting company at 22
Six employee
College kid at Starbucks 22
Haha FU kid
The art majors are the biggest scam of all. They don't train you for anything in the commercial art field, only how to crawl back to school and wait for a tenured job that will never open since the boomer profs are staying beyond their golden years and snoring at their desks.
That is racist and sexist
Quit loaning money to children that have never had jobs and paid taxes
How about a opportunity for service initiative. You will get so many education credits for public service. This can be in the military, national guard, or as a police officer, volunteer fire person, public defender and lawyer, librarian at a public library, etc.
@@stuarthirsch I like the service idea but the individuals must train for military and be out in the field and cannot get reserve. Basically put them in the worst military positions.
@@stuarthirsch A lot of those programs already exist. How about people take jobs and avail themselves to the educational assistance programs those jobs offer? McDonalds for example has a really good ed. asst. program, as do most larger companies. People who say they can't work to pay for college anymore are disingenuous at best.
Stuart Hirsch as long as there’s an alternative. I’m one of the ones that can’t serve due to my health.
@@jamie49868 That's how I made it from an AA degree to a BA degree. That was 40 years ago.
0:28 "Instead, the cost to taxpayers went up..." The government took over and costs went up. Well. Imagine that. Who would have guessed?
Me. I've worked on a number of federal government projects. They all were over budget and never met the original schedule due to no single person on the government side being in charge and able to make a decision, and constantly changing the end product to be delivered as the project progressed causing endless redesign to meet new requirements.
the 2 million dollar bathroom's supervisor
Wota, not the Libs.
"I'm in debt $70000!"
- ok, than pay it
Hi TehArgento, Gina also help me clear my debt.. you can just go to their website on CREDITMASTERFIX,COM and see things for yourself
Right. Who told you to do THAT?!
Fr, I don't get it. There are affordable options out there
olol hahah
If your smart then you'll get a stem degree and pay it off in a few years
I wish they offered this when i went to college. Iv been paying my student loan for 14 years and im still in debt.
After 14 years you can't get a job that pays more? What did you take in college ... basket weaving?
@@oldmanfromscenetwentyfour8164 its not the payments that i cant make its the intrest on the payments. Hardly any money going into the balance of the loan. And took graphic design that pays 50k a year
@@Mellowman468 You make more than I ever did. What are your payments per month? They can't be higher than my mortgage.
Well, you can take consolation in the fact that at least you aren't an indentured servant.
@@elzoog I'm not sure if you're being sarcastic. He is indentured, by choice.
Leave it to the market to solve problems the government creates, then the government makes way worse over and over cause they refuse to repeal the policies which caused the damage, and their "solutions" make the market worse
B-I-N-G-O!
Well if the government didn't create problems, then people would realize we don't need government.
It's kind of like wrecking the ship while drunk at the helm and as the crew is getting the passengers to safety, you're drilling holes at the bottom to let the water out.
@@jeffreycordova9082 : Dude, the government isn't responsible for every single problem, people make most of the problems on their own. Yes, the government does create some problems but the government also solves problems it doesn't create, most of which were created by businesses hence why we have business regulations. If we didn't have a government to act as a check for the public, including businesses, we'd still be in the stone age.
@@boredfangerrude I don't agree with that at all. Government is and has been involved in student loans. I got a loan in the 90s. I don't remember if it was a government loan or a government backed loan, but you could not file bankruptcy on it. So government give out loans for useless degrees where there is no hope of ever paying it back. Some government is needed and good, but most government is bad. Business regulations can be fine, like don't dump toxic chemicals on the ground, but most business regulations exist just to rip off business and give regulators a job.
Imagine that. The loan officer looking out for the kid AND for the company investing THEIR money.
But, but, the government told me that's impossible! That a loan officer couldn't possibly care about his investors and their money at the same time.
"Id love to buy him a beer or something" lol. Oh believe me, you have. People don't invest if it isnt worth the return.
well, just like how surprised we are over how idiotic college students are, you would be too over the average investor
Thank goodness they do a good job teaching financial literacy in high school.
0:10
"Unnecessary middle men"
Isn't that basically the gist of government?
We NEED government unless you want to go back to the stone age. But I agree they act as the middleman for things they shouldn't.
@@boredfangerrude government is not the reason for technology. You can make an argument for national security and such, but people don't progress because of government. Most of the time it is in spite of the government.
@@Irishcrossing: Not true actually. The government has been the spearhead of technology up until very recent times, the industrial revolution in fact. Before the industrial revolution, the advancement of technology largely came from the needs of the government. And even in this modern day, we are still benefiting from the government in terms of technology. Video games originated from government technology programs for war. I believe it was to create a simulation for training soldiers.
But that wasn't what I meant, what I meant was without the unity of a state, we'd devolve into city states or worse, small clans or tribes based in very small areas like neighborhoods and war with each other over resources, injustices, etc. We wouldn't be able to maintain our level of technology all that well without the infrastructure of a government to one, regulate companies and two, give us the big enough community to have the resources to maintain and progress our technology.
Sorry I didn't word it well before.
@@boredfangerrude I advice you to think why industrial revolution was a revolution? And against whom? And who has lead it? Or may be you can name any inventions made by a government?
i am in dept 0 dollars because i went out and started a small business so paying off outer people student loans with my taxes is annoying
Most business' fail and you don't earn shit.
Debt buddy
Whiteman that's great and congratulations to you, but you must acknowledge that starting a business isn't for everyone. Do you employ anybody? Imagine a world in which everyone started their own business and there were no employees for hire which allow your business to expand. That's not a very sustainable system, either, is it?
@@apostate6849 average cost of college is $30k, compared to a startup cost of a small business $2k-$10k. You can average 9 different business with the same money you would borrow from a bank as your starting capital for your business. If your business fails you can file for bankruptcy and start again... You cannot fail to repay the government on a student loan. Yes, business' fail all the time, 1 in 5 is going to succeed... However, you can always try again in 7 years time with a clean slate. I suppose the opposite is just getting a job straight out of high school... but you can take huge risks when you're younger, why not try a business?
Small business is like college degrees in the sense of what are you starting it on? Is it something that is needed? Or something that is useless like gender studies. Starting a business is not for everyone just like college is not for everyone.
The ISA sounds like a good idea, it's like raising capital to invest in your company except instead of being a company, it's yourself.
Interesting how my high school never told me about this
@John Doe, you didn't do research before making a life decision?
@@annieg7090 Shouldn't have to. High School's suppose to prepare kids for life after graduation. The fact they expect 17 year olds with undeveloped brains to make so many life decisions is an issue on it's own
@@gooey915 Perhaps, but that doesn't explain the many people who make good choices even in high school and the many people who continue to make poor choices even in their 50s. Maturity comes with age. Stupidity tends to be there or not all along.
That said, coddling tends to delay maturity; and it doesn't encourage people to take personal responsibility. Then you end up with an entire generation who blames all of their own shortcomings on everyone but themselves.
@@annieg7090 Im pretty sure a majority of people in my day to day life make better decisions then they did when they were teenagers. People usually grow out of that phase of life. So long as people are willing to grow up I don't see why one or two bad (non-criminal) decisions should affect the rest of their lives. Kids are coddled these days I won't disagree there but back in the day you could do the stupidest shit as a kid and forget about it years later. The hyper technological and hyper competitive modern era favors the flawless while punishing those who made the mistake of being human and making a mistake. That's why I think most young people (nephew) still live with their parents. The risk of fucking your life is exponentially higher.
Also if you get 3 other answers later thats because this is my family's Google so you're arguing with 4 people
What a brilliant system for so little cost and so much incentive to get people working
1st solution to all problems...limit or stop the flow.
If leaky pipe, shut off the water.
If too much in debt, stop borrowing money.
:D
It's a dirty 4 letter word called WORK they don't comprehend.
@@tommanley2924 Work at Mcdonalds for the rest of your life. Idiotic. Boomer. post.
@@apostate6849 LOL
They should do proper degrees too.
@Guy LaDouche UR a true dumb ass, enjoy it...You earned it.
John's playing "devil's advocate" method of interviewing is brilliant. It gets people who he agrees with and disagrees with talking. That is what an interview is all about.
I had $50k in student debt upon graduation 10 years ago. It took me 5 years to pay and I had to make sacrifices. Yes, it was hard and I didn't have a nice house, new car or cool gadgets. But I was the idiot who took out $50k in loans. No one else. Buck up, life is hard.
Stop getting useless degrees, and stop telling students that college is the only option. Trade skills are in high demand in the USA today.
The most terrifying words in the English language are: I'm from the government and I'm here to help. - Ronald Reagan
Tom Cartmel and then racked up trillion dollar debt
“Weeellll...ya’ seee...”
@ ...at the hands of a democrat majority,in his second term!
@ at the time when reagan cut taxes government took in 💯 present more. But the Democraps were spending $1.85 for every new dollar reagan brought in
@@gregorymckinney666 Sure it was the democrats why the Reaganomics didn't work and trickle down didn't happen and military spending had to be increased. Reagan cut the federal income but didn't cut the spending, instead increased it.
All of the women I spoke to about their student loans "Are not worried about it". They told me that some guy will pay it back for them. Rather it be a sugar daddy, husband, boyfriend, cucks, cam girl money, stripping, etc. What a sad world we live in.
It seems your circle of women is toxic. Get out before it’s too late.
Trade schools should look into doing the same thing.
Their students generally have jobs while they're taking night classes and finish schooling debt free.
@@Rocketninja200 My trade school was only $400/ yr. One night a week and was paid for by employer.
I'm guessing you never went a trade school. Cuz you would have never made this statement. Look at the other guys responses, and I went to trade school as well we don't need that kind of shit cuz we don't get raped like College people
Trade schools are generally subsidized by the government in the first place. College in Canada at least only has courses which are deemed to create jobs. They switch out the available courses all the time.
“But I like the dorms at this out of state private school, I’m gonna major in sociology, and I’m considering Greek life, and omg they have a starbs on campus”
Astrah Cat used to be about shitting out tons of high quality alumni who buy whole buildings for you.
Most of college money is spent on pointless amenities to make themselves look more marketable. Ever been on a campus outside of touring season? Constant construction and renovation. Gotta spend that guaranteed subsidy money on something, or else the cost will go down and you won’t get more money next year.
Please, ....for the love of all that is Holy, do not put that in print! That is exactly what all my nieces said. SMH.
Perfect answer
@@ludwigvonsowell5347
Absolutely this. About 75% if student debt is from women. Ban women from higher education and we wouldn't have this problem
"I'm $70,000 in debt!"
And...?
you agreed to take on this loan
you had options
it was your decision
so
live with it. suck it up. pay it off. not my fault, not my problem.
that's all you, buddy
Shut up boomer
The banks do everything in their power to screw over the American people. Giving them even a lick of power was our first mistake.
@@thetaxikab604 that dude is in his 20s. The government gave him that loan
@@thetaxikab604 no one forces you to do business with anyone. Except for insurance companies.. which is fucked. But you do not have to use a bank for any reason, unless you choose too.
@@thetaxikab604 I saved everything I got from Pell Grant plus a portion of my paycheck during community college then the rest paid out of pocket in university. I'm a senior with no debt majoring in Environmental Science. One of my ideas after graduating is to start out as a Forestry Technician then work my way up since that job require maybe at most Associates Degree and it's entry level.
Personally, I wish I have done trade instead. There is a shit load of things I would blame boomers for but borrowing money is not one of them. That is the choice individuals made to screw themselves over. Trillion dollars in debt and millennial still can't figure out that they will become another statistic. These students are like test subjects for me. I see what happened to them with a high number of sample size. Therefore, it makes no sense to repeat the same experiment after seeing the results.
Classic Joe ARE YOU FUCKING DENSE? How am I supposed to keep my money without using the banks?!?
You Libertarians are so fucking grug brained "JuSt BuIlD YoUr oWn BaNk"
I worked my way through college when minimum wage was $1.35 per hour!
And tuition was $500
I have a couple engineer friends that did that in the early 2000s
@@hammer12482 it's the same thing
@@wlonsdale1 you are saying that a 300% or more increase in tuition with a stagnant minimum wage that after 20 years was increased only $2.5 after the dollar has weakened 10% is equivalent? $11,000 at $10 vs $500 at $1. Laugh my ass off that is hilarious. Do you know basic math? Let's adjust that and for each hour you worked and that is equivalent to roughly 250% more work for the same education
that would help future students but not current debt ridden students
SJW: "I'm in debt 100K!"
Interviewer: "What did you study for?"
SJW: "Gender Studies"
Interviewer: **walks out**
I’d be like “I see why you’re in debt!”
Hahaha the super funny she meme haha www.washingtonpost.com/news/rampage/wp/2017/04/13/what-happened-to-all-those-unemployable-womens-studies-majors/
You must be in high demand at all those gender studies factories
Fake news. Just a stereotype not based in reality.
Cam I am investing in gold before shit hits the fan.....
Anytime the government subsides something (college loans), demand increases and prices rise, basic economic fact.
Covey said: I am not a product of my circumstances, I am a product of my decisions.
At least Bernie is a very wealthy man and is going to pay for every one's college!
Lol
Nope. He said someone richer than him will pay for it in taxes.
I will say that I'm heartened to listen to young intelligent people like the two engineers at the end of the vid, as well as the young woman...I work with some as well. Makes me hope for the future.
Michael Jaymes the future EVENTUALLY always improves ;)
"Indentured servitude..." Oh you mean, federal income tax?
Sort of, except you serve the bail out of kids,
Who choose to study foolish things,
Yes, tax that pay for your Garbage pick up, Snow plows, Roads, est....Oh and that "FREE" Health Care you want!
You don't understand. Agreeing with an employer (that you choose, but that's beside the point) to pay a percentage to pay back your student loan is indentured servitude. But having a loan that takes DECADES to pay and puts off the rest of your life (so that you can't get married, or buy a house, and so forth) is freedom.
Aren't you glad you have people on the left looking out for you?
@@Ninja1live Except that a lot of federal income tax doesn't pay for that sort of stuff. Instead, it pays for endless wars in the middle east, kickbacks for the rich (who don't need the money), and other sorts of useless government programs. Snow plows are usually paid for by the city anyway (so that's not paid for by federal income tax). Roads are usually paid for by the state or city (which spends the money pretty inefficiently). Ditto for garbage pick up.
But I'm glad to see you happily pay your federal tax. The next time a child gets his or her limbs blown off in Afghanistan, you can assure yourself that you helped pay for that. After all, if it was really bad, you have the option of voting the fuckers out of office right?
Indentured servitude is owing the government $70 grand plus and not being able to either claim bankruptcy or pay it off with a useless degree.
Imagine 8% of your income for a few years is being an indentured servant, but paying 25% of your income you're whole life isn't being a slave
Dont forgive my debt. My neighbor is not responsible for my poor decisions.
Maxine Watters is really the pride of California.
In some cases, in life, there is no answer. She apparently represents a lot of dumb people, and they seem to be multiplying.
@Mk. 5II33II4N You have to have a sincere interest in what our Government actually does to watch CSPAN. I could not agree more.
Dont go to college, lessen the demand so the price goes down. The actual loan...well, good luck.
Price will go down when the government gets out of student loans. When the government took over, colleges jacked up credit hour fees knowing it is free money to them.
Online college is a better deal. No dorm fees.
Amy H
Online college doesn't have the same prestige and for high end jobs, like engineering, law, comp sci, lab work, etc. this sort of degree isn't competitive enough.
@@cmarley314 Amazon and Google no longer require degrees. They decided to change that when the quality of student with Masters degrees were so low they had no choice but to hire people with actual critical thinking skills. Not just a pool of people with the exact same set of skills across the board.
That should tell you all you need to know about the quality of degreed graduates out there...
My own company is facing the same issue: the quality of people even with Masters degrees are so far below the average person with experience working up from an associate's or bachelor's or from nothing it's not worth hiring them. They demand high salaries, partly due to their amazing debt and when they have to settle for $45k and realize they will never get anywhere with the skills they have, they leave. Technology has already passed everyone graduating today. The curriculum is already outdated as they are learning it.
Online colleges are the only ones that can keep-up as there are no authorities and books to research, develop, print..it takes years to develop a compsci textbook. Professors in the field are far more valuable than any on-site professor.
Liberal professors do not want that.
Haha
Clear and concise, a beautiful solution for an out-of-control problem.
Student debt is easy to solve: teach kids responsibilities and that if they are going to take on a debt, they must pay it back. Teach them this means making a plan for HOW they will pay it off BEFORE they take it. Choose to take out a student loan to obtain a degree you will earn enough to pay it back on.
We need to minimize the goverment. The founding father never intended for the goverment to be this big
Because laissez-faire capitalism worked so well for 19th century Americans before the rise of unions, right?
@@xXAssasinXx2456 I would say it started with Woodrow Wilson.
Marcus J so what... they believed in slavery too. Time to increase the government
We only need the government to protect against violence, force and threats. Police, judiciary and military to protect us FROM force, not to enforce taxes.
Unions can work completely fine without government involvement, until either party begin to use force.
@@paulnadratowski3942 China, Russia, Cuba, and Venezuela have lots of goverment. Why don't you go live there
Slavery is alive and well today in America.
"Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless." Milton Friedman
I spent about 8 years going to college. I accumulated a little over 200 credit hours and several degrees. When I completed my last degree all was paid for out of my own pocket. I don't feel bad for any of these students who borrowed their way through college and now owe more money than they will ever make.
Did I miss something? Is there a law that says have to always pay only the minimum payment forever? Pay off the money YOU borrowed!
Why is no one pointing at the schools for overcharging? We need to be addressing why they are fleecing students, parents, and still bilking taxpayers for billions. Education is way worse than any bank.
The current, non-dischargable student loan system is already indentured servitude.
This is what I did for my Student Loan. I deployed to Afghanistan. Loan payed. No more debt.
Thank you for your service ! ! !
How many did you kill?
@@nation5743 Zero. I witnessed kills on two of the three deployments.
Company paid me to go to college to learn COBOL programming for Y2K. Owed nothing and had a job when I got out. Took 1 interview and a basic problem solving test to get in the program. It wasn't easy but it paid off massively in the long run. It was an applied skill that you could build on. Kids today are just to soft.
This reminds me of when I was in school. I got my undergrad degree in accounting and then started working. I wanted to get a masters degree but then people told me to not waste my time because experience was more important.....and you know what? They were right! I am making exactly the same as my peers with same experience even the ones with masters degrees lol
Don’t you need a masters to sit for the cpa tho? How do they go about promotions without it?
@@lamingtongirl123 It depends on the state. Some require it while others don't.
I wish I hadn't gone for my MBA. I didn't need it to do any of the jobs I've had since graduating, and it just put another $20k weight around my neck.
In my country you can't even get a credit card without having a stable income...why does the US government lend 10s of thousands of dollars to teenagers.
It was that way 50 years ago in the US. I couldn't get a credit card when I was a teenager so I just paid cash or wrote a check. I develop good savings, investing, and spending habits. These proved more important to success than any degree.
I went to school for 2 yrs, had a half scholarship and paid back 16k in loans in only 3yrs. With a garnishment and hard work, 100% of my refund going to that debt it is paid for. I have nothing to show for it but wasted $ and no piece of paper.
College isn't for everyone.
Amazing ideas. One of my favorite videos ever. Thank you!
Maybe stop telling everyone that they need a college degree. Unless you’re in business medicine or stem you’re more than likely flushing money down the shitter
>telling everyone
Thats just the market responding to demand
@@einzelwolf3437 not really, cause its being subsidised by the government, inceasing demand beyond equilibrium levels.
fixed limited supply (school also being subsidised as well as licences and charters) and unaturaly increasing subsidised demand = increasing prices . econs 101
@@21stcenturycotyk
Right, the government interacts with the market. The market has responded to government actions, and now degrees are in demand
Govt: Everyone needs to own a home
*bubble pop*
Govt: Everyone needs to go to college
???
Using other peoples money collected by forced taxation.
*brain pops*
@@stuarthirsch Are you saying taxes should be optional
@@elbowbread4393 Taxes should be voluntary as much as possible. The income tax system relies on government force, coercion, threats, and punishment to extract wealth. This in the name of "fairness", which turns out to be the least fair system of all. The state lotteries are a great example of an optional tax. Nevada has no state income tax based on gambling revenue. A national natural resource and environmental tax, what economists would call a land tax would be the best way to tax. Alaska gives a tax rebate to every Alaskan based on this system and Wyoming has no state income tax based on this idea.Texas has low taxes because of natural resources. Those who choose to use more natural resources would pay more for they consumed. I would however go for the proposed "fair tax" basically a federal sales tax coupled with a universal basic income. Washington state has no income tax although it has a high sales tax as does Tennessee and Florida. Before the 16th amendment the constitution said that there would be no direct tax such as the income tax. The founding fathers really didn't want a tax system based on income or legally, honestly, and ethically accumulated wealth. This was one of the primary, if not the primary reason for the declaration of independence.
Jokes on you, student debt is not cannot be dismissed under bankruptcy, and all the debt is backed by tax dollars. They wont let the bubble pop this time. You're all debt slaves for life
It is the availability of student loans that have caused the student debt crisis. The reason a mediocre major at a mediocre university costs $60k a year is because there is all this federal and state money floating around for it, which artificially increases demand, which forces prices to go up. It's the same reason healthcare has gotten so expensive, someone else is laying out the money so no one questions how much is being charged.
This video is like 30th in the TH-cam results of “student debt crisis”. We all know it should be TOP of the list.
No mention that the colleges are complicit in the problem. The main contributor actually.
Vice News: Something costs money! REEEEEEEEE!!!!!
How does this not have 1 million plus views? I wish I had this at my university.
Here's a crazy idea...if you have no idea on how you're going to pay it back then DON'T BORROW THE MONEY!!! These idiots act like they were conned into signing on the dotted line with no idea what they were getting themselves into when they decided to go to college.
hmm I went to college twice to get 2 diplomas in related fields. Paid off the loan in roughly 1 year. Both diplomas were in tech.
"It's not because they're dumb." A lot of them are.
Probably because financial literacy isn't considered important prior to college.
She was just trying to be nice and diplomatic for the interview.
They are dumb.
I said that out loud while watching this
Absolutely!!! How many videos here on YT highlight the level of stupidity on college campuses?? Kids are dumb because they aren’t being educated, they are being indoctrinated!!
It is possible to be "educated beyond your intelligence". Those that really get it, get their minds expanded. Those that don't get it, don't. But both can be taught how to pass a test since most tests don't involve real critical thinking skills.
Why doesn't the dept of education waive the interest on student loan debt? That way you're still paying it back, but the government isn't making profit off the loan. They complained that the bankers were profiting off the debt, but the politicians are doing the same thing!
Dilly Dally 100% agree! I’ve paid more than 4k on interests and only 1k in principal. Unfortunately I didn’t have money to start paying them and had to let those interests pile up for like 3 years. Now I’m finally starting to pay off my loans. But the interests is what’s killing it.
Student debt has increased because of the cost of education. States have cut subsidies to universities and shifted the burden to students.
If you don’t bother to research your loans relative to your degree it’s your own fault.
Lastly a university education is about education not a job. Democracy is in danger if you don’t have political science majors. Well informed voters and citizens are essential.