What is a college grad's life without debt?
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- เผยแพร่เมื่อ 8 มิ.ย. 2024
- Total student loan debt in the United States is now nearly $1.8 trillion, and experts say young people are delaying buying homes and starting families because of it. So, what could the lives of students look like when they graduate debt-free? Correspondent Lilia Luciano talks with experts about the "sticker shock" of college tuition, and with alumni of Morehouse College's Class of 2019, whose college debt of approximately $34 million was wiped out by a gift from billionaire businessman Robert F. Smith.
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The irony, my daughter got into Lafayette. When they told us we would have to take $18k a year of debt, I said, “Then we have a $18 thousand a year problem.” It was an amazing school, but not good enough to start $72k in the hole. She chose a not as great school closer to home and graduated debt free.
She pivoted and that’s what people need to understand. Education is education…
@@shaunmc013 but theses corporations over look no name colleges for the ivy, its always been that way for years. Now their tune is starting to change.
@@jjtiojohn12 any job posting I’m seeing, nobody is saying that you need to go to Harvard. There’s other Corporations you could apply to..
@@shaunmc013 yea you don't see it because your not in an HR role, they filter out potentials and look for key words if you don't have a white sounding name, didn't go to a MIT Yale or Brown you are on the rejection pile!
Also you can get certs from ivy leaques and take classes there as a visting student
The politicians and college administrators that let this happen should be in jail.
Lies again? Help Company Heineken Carlsberg
jail? calm down internet poster
@@Sammich4839 dude these people are ruining lives
@@TOKIEYOH because college students voluntarily took out debt? you make no sense
There should be no interest on these loans.
That is the main issue that keeps people from paying them off
Exactly. During the covid forbearance period, I kept paying to make sure 100% of my payments were applied to the principal.
Time is money. No one would pay their loans then. Will just wait 50 years until inflation erodes the debt away. Like the Federal debt. Lol
This is what I say Biden should do rather than discharging student loans, just eliminate the interest. I’ve been saying this for years.
Then no bank or services will loan any money to anyone.
@@MrBrewman95 these would be the government or federal student loans that we’re talking about. These are the type of loans that Biden dismissed, not private bank loans. He can’t do anything about bank loans.
The big problem is not the amount they take out, it is the interest and the terms! No interest, no crazy terms. There are people who took out $100 k in college loans. They have already paid back $150k but still owe $125K. Who is getting all this money? It is not the university.
This!! I have paid my loans 3 times over! School loan interest funds wars to social services. It is put in the general fund.
The Government. That’s why when people talk about student loan cancellation they don’t understand that this is the government charging these predatory rates. These loans should be interest free, and can only be used on degrees in need. The need based degrees should be reevaluated every 4 years. And degrees in STEM also including teaching and Human services should always be determined as needed.
People, if you go to a private school or a school outside your state, you will pay more for your education. Stay in-state and go to a public university. Your future self will thank you.
Yes! Daughter went to community, then transferred to a NJ state college. Debt-free nurse next year!!
State schools are now 24k a year when you include everything. It’s disheartening.
I’m enrolled in an instate public college and it’s less expensive on paper compared to private schools and a few hbcus but when all the hidden fees are tallied up and state aid comes in (the only-very little-bit you get with these kinds of schools for the “average” student) it’s way more expensive. The loan is the only way to survive.
@@worldtraveler3044yes. In Arizona nursing program is now around 18-20k a year at state university.
In 1998, I graduated from college without debt. I had paid my final payment in January of that year. My entire degree was $26K and it was paid for with my student job and my dad's overtime from his union job. That inexpensive degree has been a gift. My daughter would like to go to my school, but it's $26K a year. I worry I can't give her what was given me
You can, but it involves going overseas...like South Africa, India, Malaysia, Canada...all English speaking.
You could go to Europe if you want. Same for Latin America. Mexico, Colombia, Argentina.
All have good universities.
@@rahuliyer7456 Or you get summer and part time jobs, saving the money earned, get good grades, do research/apply for scholarships, and earn scholarships and grants. Another cost saving option is to take advantage of dual credit opportunities in high school and/or go to community college for gen ed classes and transfer to university later. My niece earned over a semester’s worth of credits in HS. My nephew was a national merit scholarship and went to a university that recruits merit scholars by offering a free ride. My cousins just graduated from community college and will attend university in the fall.
Because my RN Mom worked in an underserved neighborhood in San Diego, California, her student loans were forgiven.
My dad went to night school for a chemistry degree while working full time in a factory. He paid his loan and lived a successful life.,
I went to community college. I work part time while studying.
Graduated without debt.
Now i work earning 6digits.
Meanwhile my colleagues earn less than me and yet they have 6digit debt.
I am not here to brag or to make someone look bad.
But never ever put yourself down just because you are not part of the majority.
My kids did the same and they went to low cost colleges. We did help a little but for the most part they all paid off their loans. And they are all working. You were smart!!!
Daughter did the same, got her masters this May and is debt free, not even a car note.
I was lucky enough to pay off my debt the second I graduated. It makes a HUGE difference. I was able to take time off, which I needed to do for my own mental health. 1-2% interest max There is no need for these huge interest rates other than simple greed.
If university was low cost or free it would increase the number of educated people entering the workforce. The downside is that corporations would use it as an excuse to lower wages and benefits.
Yep
no they wouldn't. higher educated workers mean more leverage for higher pay.
@@kreativeforce532 yep
Well that 2019 class was very lucky to say the least
I paid mine off in 2020 and graduated in 2017 with 14,500 in debt. Went to community college for my AA at Valencia College and then transferred to UCF for my BS.
Good for you!!!! That's awesome. Took me 14 years to pay my debt.
I love that guy who’s taking care of housing for his brother. Kudos to you and your family dude
I graduated from a public, in state college without any debt. The best decision I had ever made in my life.
Literally not even an option nowadays for the vast majority of students. The cost of even an in state public school is out of reach without taking out loans.
@@CapnCody1622exactly
Don’t get a worthless degree. You’ll be paying for it forever. You are not the exception.
Also a portion of the tuition is set aside for those who cannot afford college.
College is a system of higher education but it’s also a business so you have to be about your business when you attend it and understand why you’re going.
So 2019 Morehouse College was the inspiration of the Rich Wigga, Poor Wigga Atlanta episode? That's crazy.
The problem is an 18 year old has no concept of the financial burden they are creating just to have the dream college experience.
and the fact that we're told that if you don't go to college, you're a failure.
If you are a parent with a small child and are reading this, you can start saving for your child’s college education now. Even starting small: $10 or $20 a month, every month for 15-18 years can help.
Great for Freddy Williams, his debt wasn’t erased it was paid by a very generous individual. He’s fortunate that the debt he accepted and accumulated was paid for by another.
So what! Yay!
Just like a lot of billionaire alumni’s should for certain things extend of asking tax payers to do it.
It actually was...it wasn't a cash payment rather funneled through the school via a foundation ( tax reasons)
Look further into the payoff of public sector. It is not accurate. I worked 25 years for local government and was denied forgiveness. I graduated as an older adult. I tried reaching out to my congressman and have never heard back.
Don't get me wrong, I know I went to school and I expect to pay; however, when the DOE allows military spouses free education, why not do more for those of us who work for local governments, too?
why should public sector workers get their loans paid off? I have been told that the very generous retirement plans was the key into being competitive with the private sector. You want that and free tuition?
@1Dude2009
If you read, I have been paying on my loans. For more than 15 years.
If there is a program offering forgiveness, then why not.
Military spouses go to school for free - which isn't free. Someone still pays for their education - ALL of us who pay our taxes.
So in essence, not only do I get to pay for my loans, but military spouses, too!?!
I will continue to pay my loans. I received my education. However the gov't should not cherry pick which gov't employees have loans forgiven.
...and, the *generous retirement packages* are given to upper management, not the worker bees.
@@debbie2721 I agree the government should not cherry pick who gets "free" college. AS for your retirement, are you getting a guaranteed income when you retire? I am not getting a guaranteed income. I get whatever I put away out of my own pocket.
@1Dude2009
Allan, yes in fact I do. However, I made a job change to go gov't. I lost $4 an hr and started at $9.73 hr to accept the job. So, had I not decided to lose money to get a govt job I would not have had a retirement check.
I may not get a big check, but I was willing to make sacrifices in order to ensure my future.
So, if you don't have a retirement plan, rethink your future.
If we can bail out banks, we can definitely forgive student loans. Billy at the bank did nothing for most families, but forgiving student loans could really mean a difference.
Politicians want poor people to accept minimum wage jobs
So Congress says we’ll give you money to study ANYTHING, and then says we’ll only do any with your if you work for the government or charities. WHAT A HUGE SLAP IN THE FACE!
Amazing amazing forgiveness gift. Today's tuition is crazy it's so unfair. When I graduated from public college my semester cost was about $400.00 a semester. And my Dad helped me pay for 3 semesters. I paid for semesters when summer work or on-call work helped. I always worked 20+ hrs a week and took call, and carried a full load and went to summer school and bridge Xmas break school and paid my rent etc, to cut down time and get out on time... College should be affordable.
Why do we want dumb citizens?
Education should be the top priority in every city
In every state
Across the whole Nation
Grandparents should be able to retire in their 60's
New graduates have a job to go to
College is free because we want smart citizens
Ok, using that line of reasoning....
We want homeowners, because people who own homes are invested in their communities.
My mortgage should be paid off and my home should be free....
We don't want dumb citizens, and implying that someone that does not go to college is very elitist of you. College is not "free," someone has to pay for it. You seem OK with blue collar workers paying tuition for college graduates. There is never talk about reforming student loans. Lafayette college has an endowment of over $1 billion dollars, they could charge a lot less and help their graduates leave college debt free, but they won't do that. We need t start taxing endowments, restrict the number of administrative staff a college is allowed to have to receive public funds, cap the amount of student loans available, AND reduce the interest to virtually zero.
PREACH
@1Dude2009 I never said that. Do not put words in my comment that isn't there. Never assume.
Why the cost of education keeps going up is a question.
We as a nation should invest highly in our citizens period. Other countries can do this, why can't we? Oh yes, the almighty dollar rules our roost.
Libraries are free, not everyone utilitzes them. Nor looks up information that is at their fingertips. I didn't create that. Just purposing a question
@@susannpatton2893 you commented that "why do we want dumb citizens?" followed by "College is free because we want smart citizens." These are your words. It is not hard to draw an inference that you think that those with college degrees are smart and those without, not so much. I also do not want "dumb" citizens, and think we need to rethink about the job we as a country are doing in all levels of education. I don't think that college is for everyone AND I think we need to do a better job educating kids in K-12. I have a degree so that is not what offends me. I do know many people without degrees that are "smart" and some of the dumbest Americans at this time seem to be highly educated.
Why not just make college cheaper by reducing the federal loan program!?
Public in-state college tuition used to be HEAVILY subsidized by state governments or effectively free, until the 1970s. After the 1970s, everything went downhill because Reaganism started to creep into governing ideologies everywhere - so state governments started to underfund higher education. Meanwhile, public universities started to increase tuition to make up for this funding shortfall. So much so that most students alive today do not understand that their parents and grandparents never went into debt to attend a bachelors degree. Free public college tuition now!
Because Reagan wanted to lock poor people out of higher education
Let’s start with discussing debt relief for students who attended public universities. Not private
Let's not forgive EITHER. If the student didn't get set up for success by attending school, looks like a class action lawsuit against these universities that sold them useless degrees.
God bless Robert G Smith ! Hallelujah ❤ So happy for the debt free Morehouse graduates !
Lafayette College -87K/yr. Even with a 39k/yr coupon…💸💸💸
It’s not just tuition. It’s room, board, healthcare, & fees for everything. 24k PER YEAR we pay for our current college kid. This is after scholarships & grants. I will not allow our children to drown in school debt like I have experienced.
Might I please suggest attending a community college for two years while living at home and working? You can pay your way as you go, which means no debt when you transfer. Also, it might be better to attend an in-state, four-year public university. Without question, higher education costs have skyrocketed over the past three decades. That said, there are multiple ways to limit the amount of debt a person incurs.
also taking dual enrollment classes while you're in high school. CLEP exams are another thing you can do to get college credit.
there's a website called modern states that has prep courses and gives you a voucher when you finish the course.
Become a plumber or an electrician or an HVAC technician. No debt, get paid in an apprenticeship, and probably make as much or more than half of the college graduates.
Guess what bonehead, not everybody wants to be a plumber or an electrician or an HVAC technician. Some people want to be artists, or pastors, or zookeepers, etc.
@joeybaseball7352 so do those things. If paid apprenticeships aren't available for those skills, and scholarships aren't enough, be prepared to take out loans. Nobody is OWED a low cost vocation of their dreams paid for by everyone else.
@@joeybaseball7352 I want to be an artist. Should the government force you to subsidize my art or should I get a real job?
not everyone can be a plumber
@@pwstroud Not everyone can make a living off of a gender studies degree either.
During his campaign in 2015, Bernie sanders raised the awareness of this issue. Anyone taking a large student loan today is foolish. The example here is a student who chose the school that would have let him enter the world with a crushing $120k of debt. There were other less costly options, but he chose the expensive one. Georgia Tech would have been half the cost for the same degree.
It’s because they have been led to believe, by those costly colleges, that the competition is steep and employers will only hire from the big name schools.
Thanks!❤
It’s ridiculous how much it cost to get an education in this country!! It’s like you’re getting a punishment for achievement. We told all our lives to reach for the stars but you better have money because you’re going to have a huge debt after! Congratulations. Now get a job!
There are so many people I know who don’t think there should be loan forgiveness. People don’t realize that the interest on these loans is so high, and aren’t able to negotiate or refinance, stuck with 8% loan is crazy, paying for years.
Also I feel there should be an opportunity to do community service to go towards paying it off. Colleges are living beyond their means and should be made accountable for their actions, especially if they go bankrupt!
I'm so glad I'm NEVER going back to college EVER again
Did they interview graduates who didn't make sound financial decisions after they became student loan debt free ?
Wonderful!!!
My parents paid for me. I paid for my kids. You start saving when the child is born.
Gi Bill works wonders
Erasing debt is not the answer. Founding scholarships and choosing colleges that the family can afford is the answer.
The segment points out that the average length of repayment is 21.1 years (6:28), but it conveniently leaves out the fact that the standard repayment plan is only 10 years. As someone currently paying off a federal student loan using the standard repayment plan, my payment (with 6.8 percent interest) is equal to about 1 percent of the balance of the loan when I entered repayment. The balance included some interest accrual during the 6-month grace period after graduation when I wasn’t required to make any payments. Therefore, by the time that I have made 120 monthly payments, I will have paid just over 20 percent of the original loan’s balance in interest. If the average student loan borrower’s balance is $29,400 (4:04), then the average student loan borrower using a standard repayment plan needs to come up with about $10/day to make the average payment using the standard repayment plan (much less than, say, an average car payment). The people spending 21.1 years in repayment are only doing so because they expect THEIR loans, that THEY borrowed, that THEY benefitted from, and that THEY promised to repay to be “forgiven."
Without debt.......Eased..... less worries.....😊 just my opinion
Not having debt (or taking out less than $20k in total debt over the 4 years - all federal) just creates more choices! You don’t have to stay in that job you don’t like, you can start a business. And if you compound the amount that would’ve went to the debt, that strengthens your retirement security.
It’s not the debt that’s the problem it’s the interest. 6% on 200k loan is 12k a year in just interest one has to pay a year
My daughter is in the US Army, 1st Lieutenant and nobody has lent her a helping hand
Well both Trump and Biden want to put her and millions of others at risk by getting us in endless conflicts.
The army pays for college
@@joeybaseball7352not entirely
The military pays for college and healthcare. Yes it's the government.
Thanks Mr. Robert Smith and Morehouse graduates with paying it forward.
The average student college debt is $29k? That's WAYYYYYY less than I anticipated....that's way less than many brand new cars. I assumed the average student debt is above $80k.
I think college education in the US is highly overpriced and often underdelivers (for that price), but $29k isn't much.......I went to a college that cost $24k PER SEMESTER.
Very glad I could afford my expensive liberal arts college when I could. Colleges really should reimburse for the substandard Zoom education during the Covid years.
It's gotten worse. Not only are loans still readily available loans are eligible for off campus housing. Yes, those fancy new state of the art apartment complexes they mushroomed into many gentrified neighborhoods. The school partnered with the rental companies to assist with getting units filled so that the rent is evenly divided just as if on campus. The interest rates need to be managed! College has become big business in capitalistic USA 🇺🇸. And who is hiring graduates with career paths and liveable wages? We'd be better off giving students to this type of easy credit for local farming, schools and the ole small business. Every man using their God given gifts to exercise and earn a living. No, everyone is not a business person but the option needs to be available.
The Lafayette president's response to the interviewer's question about why tuition has increased is super evasive. Of course, human capital is expensive. The problem is the buck has been passed to individual students from the government. State governments need to get back into the business of paying for tuition, like they used to. Ridiculous response from the president.
We have a house, a dog, two new cars (one completely paid off), fully funded IRAs, full 401k contributions, six month emergency fund, trip to Germany and money to go out to eat twice a week. I’m not gloating , you asked , my friends don’t have this luxury and it makes me sad and feel entitled.
I graduated without debt because I lived in CA where community college, first 2 years, were free. My niece went to Claremont and then to medical school. I wonder if she will ever pay off her loans
Lmao dude owed $120,000 and acting like he didn’t chose to go to an out of state college.
Right? I somewhat get the argument for relieving public university debt. But why private school debt? Private high schools are not funded by tax payers so private universities shouldn’t be either..
@@HondaTiger56 exactly I’m not saying that either I just think they don’t need to forgive all these debts and pay the schools. The schools have failed these kids, there in no reason some of these majors/ schools should be accredited. Doctors/nurses/teachers/engineers/ any essential trade school/ should be free for qualifying applicants, but to forgive everyone’s debt is atrocious. I’m glad this man and his classmates had their loans forgiven because that’s what their alumni should do, just think a lot of young adults think they should have the best of everything and not pay a dime back. I’m 26 with 6 figure job, I didn’t go to college , I found my niche in business and went from there. Going to an out of state college is like a 4- year vacation why should we as tax payers pay for that?
I went to an instate school. Had I not got grants I would have 80K in debt. this is with In state, living off campus AND working.
@@vincem2759 what school please share public or private?
@@Hunter96187 East Carolina University. in North Carolina. It's public
My first thought was that’s got to mean better mental health for them without the stress of debt hanging over them.
I was lucky that I went to a Cal State school 40 years ago and paid off my loan by 29. State schools schools be a lower cost option.
What does suck is that I couldn’t deduct the interest of the loans! From what I hear you can now but it’s only limited to like $2500!
Work part-time during school, full-time during summer, attend a school you can afford.
A friend of mine got her student loan debt forgiven, and now, she is feeling free as of now. For me, I don't have any student loan debt, but I got scholarships and grants before I graduated from CSULB weeks ago.
It boggles me how europe has very low college costs and they're doing well economically and socially meanwhile us Americans have this.
I'm a recent college grad without debt (cause I chose to go to my local college rather than "wasting" so much money in dorming out of state, not to mention my scholarship paid my full tuition and other expenses were paid from the money I got from my dad's life insurance) and I am happy that I do not need to pay any loans or debt back, the money I make with my new job can all be for me
This is why I tell my own nephews not to even make that decision to borrow student loan debt to pay for college. It's best to receive either as many scholarships and grants. Also the military can help out with paying for college. Money that does not have to be paid back is always the best choice of money to use. Borrowing student loan debt nowadays is an example of bad debt.
You're responsible for paying back every dollar you borrow plus the amount of interest that accumulates on that balance. Certain career fields won't start you off with a salary that is valuable enough in order to pay back a student loan debt.
Making the decision these days not to borrow any of that debt saves both college students and grads thousands of dollars. This CBS segment is all about a billionaire who decided to cut those graduates a check for their debts. That rarely happens and I'm sure so many other past college graduates would want the same thing to happen to them. High school graduates of today need to make that wise decision to do everything in their power to avoid debt so they won't have to wish for a billionaire to cut them a check.
34 millions. Thats crazy
College administrators and non teaching staffs in an average college is 40-45% . If those jobs can be removed the input cost would reduce . Also seats at top colleges are artificially kept low and if that opens up this debt problem would reduce .
Got to an in-state public university.
Like others here, I went to community college then a bachelors degree at a university in something practical - civil engineering. My high school grades were pathetic, I worked two full time jobs for several years then college. I kept on full time job and worked a part time job the entire time I was in school. Graduated with no debt and mostly A's. I had no life during this time and very little sleep. Looking back at it, that time really helped me to understand responsibility and matured me. I am now a manager making six figures. I think kids who go to school without a least a little struggle will not perform very well in life. Just my opinion.
That is the Fallacy of relative privation.
Nobody should have had to experience deprivation and hardship of that magnitude to obtain a degree
Students and parents are getting wise to costly schools do not mean higher incomes. There are so many great public schools with lower tuition and great academics.
There should be NO loans whatsoever… let these colleges actually compete in an open market and let these students work their way through college.. these colleges are waaayyy top heavy with administration etc… they don’t run as a business as they should, instead they run like a bloated government agency, essentially they are!!
Uhh colleges ARE running like a business. That’s the problem. Education shouldn’t be a business in the first place.
Totally correct -- they are fiscally irresponsible. With all the government financial aid, they have just kept raising their tuition at 3x the rate of inflation!!! Then, these kids come out and can't even find a job. Check out colleges that won't accept financial aide; their tuition is 1/3 or less than other universities!
Greed the facts too, 30 years ago college was affordable and had less administrative jobs ,nowadays assistant has assistants. Sadly someone has to pay all those college graduates. If everyone goes to college what will happen with " regular jobs" ??
I thought HBCU were supposed to be affordable. (At least the ones in my backyard are) how come that first guy has such a high estimate on his cost saved
Exactly!!
I believe you're referring to the guy who was from out-of-state, out-of-state tuition is insanely high nation-wide.
Who told you HBCUs were affordable? 🤔
Colleges have also turned in to resorts
I look forward to seeing you become the best trader of 2023.
I owe $178,000 my school went out of business where is my Robert f Smith 11 years later my life has gotten worse then when I went to college
Btw you may qualify for Biden’s forgiveness
Now the Morehouse class can start that home buying early and start that generational wealth
I've been paying mine for a long time
I have two more years to go
I paid off my student loan years ago took me almost 5- years to pay it off but I did. Your gonna make it my friend just stay the course.
How do these smart people not know what debt they are going to have and what their earning opportunities will be before going to college, it is all available.
It’s the interest it’s worse than paying off a car loan literally if the interest rate didn’t suck for most people it would be easier to pay it off
another debt trap. With Blackstone an college tuition what an american dream. Homes will be full of combined families. Really scary times
While i dont mind the federal government helping theough loans, perhaps the loans should be able to be discharged through bankruptcy but only after 10 years of paying. However, then the debt gets shifted to the institution for repayment so the attended school is now responsible with the student no longer on the hook. This would have the institution having to share in the risk burden and ownership of the debt to ensure that the degrees offered actually have a return on investment.
Better to get a certification nowadays.
I see the agenda, forgive all the student loan.
Life is good graduating college with $0 debt 😎
Bankruptcy is a solution to your credit card debt, student loans are not dischargable in bankruptcy
Yes it is. It is now
"Where the business of human capital and human capital is expensive" lady these young people are human beings not cattle at an auction. "RIDICULOUS "
I’ll give you the quick summary:
With debt 👉 unemployed
Without debt 👉 also unemployed
Yep, I have 50k of college debt, graduated in 2016 and im working at a call center now. I’m a white guy though so no groups give af about me.
I escape the pain of failure with alcohol and video games now.
I dont have a debt. I can take long breaks from work.
Debt is inevitable - I graduated to a car loan, PG&E bills and rent lol 😂 couldn’t get scholarships or financial aid for that. Every day I tell myself thank God, I didn’t have to take out a student loan..
I wish I knew 🙄😫
What's the dilemma?
The very fact that there is nearly twoTrillion dollars indenturing millions of our fellow Americans is evidence of our broken higher education system.
To anyone who who has a problem with forgiveness I ask;
Have you never been forgiven?
Investing in education benefits everyone.
Right?
😮😮😮this is...one of the senseless American cruelties upon young generations...if you consider that most countries world wide, universities education is for free...this is a huge gap for the American students. Well...they have to be harshly punished if they care to be educated...or not? If these fees at least could finance scientific research and give students the chance to pay debts in another alternative way, working and becoming partners in business, having a motive to stay and become a golden asset...this is once again...a senseless cruelty 😢😢😢
If you majored in things like nursing or physical therapy , 30 grand in debt is not so bad . Other people = forget about it
Shouldn't be in college when they are not too smart for college. Do not go to college if it is not free!
I was paying mine for 20 years and they were finally forgiven. I should have been super happy, excited and I was sort of except at exactly the same time I got the same amount of debt in medical bills that my insurance was supposed to pay, but didn’t so it wasn’t as happy as it should’ve been. But at least I don’t have both. Only in the US. 😑
Although my mom paid off her student loans way way way way way before I did because back then college was more affordable and she got half her loans forgiven for teaching but she also got medical debt that was supposed to be paid by her insurance and wasn’t and it was even more than mine is by a lot so she also never was really able to save or buy a home. So we need more affordable college, but we also need universal healthcare.
The Executive Branch shouldn’t be transferring student debt to taxpayers, but should be cracking down on predatory lending and the costs of tuition. No one forced any of these students to take out a loan. Corporations should weigh experience over college degrees. Not every job requires a degree and not every student needs to go to a private college.
That's where you're wrong. That's like saying, no one forced any driver to get a vehicle. They could've walked 20 miles to work and back everyday.
@@joeybaseball7352 they could have purchased a bike, skateboard, roller skates, or a cheaper used vehicle, but they didn’t.
@@BlahBlah-em2ed Right, because it's totally logical to bike, or skateboard, or roller skate on the highway for 20 miles.
@@joeybaseball7352 Your analogy should have been nobody forced them to get a new vehicle. get a used vehicle, get a sedan instead of a truck, get 4-cyl instead of a 8-cyl. Thats what higher education is like, the private fancy colleges are like new pickups that everyone wants but cannot afford. People need to realize they dont need to measure themselves against the success of the internet. its not realistic.
@@paulj8740 I'm sorry, but you're wrong. Used vehicles are just as expensive as new ones. You end up paying more with used vehicles because of all the problems they come with.
luckily my parents paid for my USC tuition 😂
Please take a look at what Hope College in Michigan is doing. A hopeful solution
It doesn't provide free college to all poor people
Graduated in 1972 with about $10K in debt (about$75K in today's $$). I always had a job, sometimes 2 during my 4 years, and little help from my parents. It took us about 15 years to pay off the debt. We bought our first home in 1980, eight years after graduating. Also, my salary on my first job after graduating was $6500 yearly with the JC Penney Co. in their management training program. The students in this story are very fortunate, but I am against the government forgiving student debt. Pay your bills, save money, and buy a house when you can. Not the day after you graduate!
My point exactly!
I don't mind paying my loans, but loan forgiveness for those of us who dedicate our employment to local governments should also be included. The Loan Forgiveness program (even partial) could've definitely helped me when I worked FT and got my BS as an older single mom working for local gov't agency. I am still paying even after retirement.
It is not a one size fits all.
The point of society is to ensure there are less barriers moving forward, not more.
Most US states provide some type of automatic scholarship (full or partial) if you meet minimum gpa amd test score requirements and attend an in state school. The student debt "crisis" is really being driven by 3 factors:
1. Undergrad Level: Students attending out of state and/or private universities.
2. Undergrad Level: Under qualified students (low high school gpa and test scores) attending schools they are not ready for and not graduating
3. Grad level: Grad degeees at "elite" schools becoming "cash cows" because the US government puts no cap on GradPlus loans .
Universities will NEVER be held accountable as the President of Easton College here shows.
There aren't enough scholarships and grants to help everyone in college.
Even if there were, most require you to get good grades and attend school full-time.