Adam Ruins Everything - How College Loans Got So Evil | truTV
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- Опубликовано: 24 авг 2017
- Student loans are leaving millions of Americans with really bad hangovers.
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In Adam Ruins Everything, host Adam Conover employs a combination of comedy, history and science to dispel widespread misconceptions about everything we take for granted. A blend of entertainment and enlightenment, Adam Ruins Everything is like that friend who knows a little bit too much about everything and is going to tell you about it... whether you like it or not.
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Adam Ruins Everything - How College Loans Got So Evil | truTV
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Adam, I'm shocked that you didn't touch on the fact that colleges, due to the easy availability of student loans for everyone, have steadily increased their tuition to take advantage of all the readily available funds (and in some case lowered their admittance standards to allow more students to attend, increasing their income further... made even easier once they could run online classes where they were no longer even restricted by physical space). This in turn encouraged the government to allow higher loan limits to cover the growing tuitions... and the vicious cycle continues.
mdavies97131. Same thing happened with health insurance. The higher availability of money drove up the prices, which drove up the premiums, which drove up the prices, which caused secret discounts, which drove up the stated prices so they could pretend to offer discounts. Spend and Save money by spending more.
mdavies97131 That only proves that socialising education is the solution to providing equal opportunity for students without crippling them with debt. The government would actually have to spend less if they directly funded education and used their resources efficiently than it does now, subsidising whatever prices were asked for by institutes whose purpose is not to educate it's their students but to turn a profit. Education is a right, not a commodity.
Elijah Mikhail. You must have a different method to get to QED than logic professors that teach proofs. You propose a hypothesis, but you're nowhere near the last step of your proof.
State schools, especially the land grant schools, in the US are already directly funded by government funds. Oil and Gas taxes, some pull from income/property taxes, some pull from lottery profits, some from endowment funding; all of which combined are often much more than student tuition - YET prices go up. They go up because there is a desire to have more money than last year and to get all money possible or available.
In states where tuition is fully provided for merit students: dorms, fees and meals have quadrupled in the years following free in state tuition. Dorms are often required for freshmen, thus paying tuition twice. State schools with tuition scholarships now seek the out of state and international student. Often the in state student is not accepted as a paying student is, because the in state student has in fact already paid.
So socializing a school has not always lowered student debt.
I would propose that one problem is what is mentioned here. The young students have a poor knowledge of finances. It might be best if a bachelor's program did not accept students under 21. About your Junior year it starts to hit you that you must eventually pay the bill after the party. On the other hand if schools expected you to be mature on admission, then you could have saved part of your costs BEFORE entering. You wouldn't be an 18 yr old in the 13th grade. You'd have work experience, life experience and may already have your own apartment. With that in place, the costs would go way down. Especially as you'd be savvy enough to determine if the pricey school is actually that much better than Brand X. Less party, more learning.
By "steadily" it's pretty rapid too. I'm paying $6000 more in tuition than I would have had to pay 4 years ago. It's insane.
adam does not want to draw atention to the fact that government subsidies mean increases in prices in almost all the sectors. But that is not really a surprise.
Department of Justice: “We take loan sharking very seriously.’
Sallie Mae: *laughs in Satan*
Department of Justice? They'll be the First to bring back Debtor's Prisons!!!
"Let me tell you about a few things you can do..." Shucks, I really wanted to hear the rest of that.
oops! Looks like the removed that last bit about "...things you can do...", I wonder why??? Pressure from "above"?
I'm pretty sure they get more revenue by getting you to watch their show.
Electrichead 65 You and me both!
One of them is go to a junior or community college for your 1st 2 years to save money. Saved my ass from overwhelming debt.
Financial Aid helps too
Now do an episode explaining how many employers are requiring a college degree for positions where one isn't really necessary at all.
That's pretty simply market oversaturation. In 1974, colleges refused 2/3 of all applicants because they weren't qualified and the colleges learned that they would make more money teaching them the stuff they didn't learn in high school, that's why the first two years of college are colloquially called "High School 2.0". They simply are a retelling of what the high schools should have taught you but didn't.
Nowadays, with 16-20 million people in college at any given point in time, that means that if you don't have a college degree, the next person that applies does. In 2016, 33% of people had Bachelor's Degrees and 11% had Master's Degrees, so if three people apply for a job, one is statistically more likely to be more educated than you.
Why is that relevant? Education is about knowledge, wisdom, life and community enrichment and so much more. Education has INHERENT value. Enough with this pointless and obtuse "argument" that education is solely about "Hey, what's the fastest, easiest and cheapest way for me to get more money?!?!?!"
Steve Nesich classic 70-80's american response.
*experience
It’s even more boll shitty when they say you’re overqualified.
To this day I will never regret going to community college. On my way to a second degree and I'm debt free! If I had gone to a university, I would probably be in debt way over my head and no job guarantee. Our education system needs to change!
I wish I was told community college was a thing. I got Financial aid but I was MISLED into thinking I still needed loans. My debt is pretty low compared to other people like I think it's $15k or something and I was told that's "easy" to pay off. But due to mental issues, I had to drop out for a couple of years. I want to go back but since I've been out of school too long, they're telling me I have to pay of the ENTIRE LOAN before they'll let me back into school.
Shhhh...... The gvt might come after community colleges next
You could get sponsored to go to college for free in France
Unfortunately the Republican Party is severely hurting intelligent Peoples chances of going to good schools therefore destroying our economy they claim they want to help but they really are hurting us even more
@@waspwrap1235 tell how?
This only explains part of the problem. Because it's so easy to get student loans, universities hike their tuition at 6 times the rate of inflation.
Didn't they hear such things like FAFSA and financial aids? Dumba**...
I hope lots of teenagers see this video before they go to College. I wish I'd known all this back in the 90's. This show is a very powerful public service. Thank you.
The student loan industry is so predatory, and the fact that it can even be termed as an industry is scary. My parents lost everything after my father was injured in a work accident because when he won his workman's comp settlement, the loan company that held my mother's student loan debt were able to take the majority of the settlement before my parents even received it, in spite of the bankruptcy they had filed, for a loan that my mother had before they had even MET. My father not only lost his career, but we lost our house and all of our possessions to sheriff sale, due to the student loan holders being able to avoid bankruptcy protection. We went, in one fell swoop, from a solidly middle class family to living below the poverty line. And my father spent the rest of his life having to work three jobs to support us in a halfway decent manner.
I know a couple who 'divorced' to prevent a similar situation from happening. They continued living together and remarried after the situation resolved (approx 5 years)
That’s so horrible :/ I hope you are in a better place now
You should do a video on how colleges took huge multi-million dollar subsidy checks from the government and, instead of using it to keep tuition low, they built stadiums, on-campus residences, started useless programs and classes, and boosted the salaries of admin personnel, and when the money ran out, they now had all this new crap to pay for and no subsidy left so they put the burden on the student’s wallets. The loans are not inherently evil, that which caused the need for such loans are.
Seriously, my college has a Chick-fil-A, Einstein Bros., Subway, Panda Express, Moe's Southwest Grill, and THREE Starbucks. All of this money thrown away for fast food we don’t need instead of lowering tuition.
@@Juanhernandez-zx7ktthey could keep it all in house and provide cheap healthy food to students
@@Juanhernandez-zx7kt Holy sh... Did you think that through... *at all?* You realize you're suggesting that *the college* is paying *the companies* for the privilege of profiting off a highly reliable consumer base?
And then there's this genius. Where to start...
Whining about college subsidies just folds into the standard argument over how taxes should be spent. I want to cut all subsidies for roads, gas and oil. You apparently want an uneducated populace. There are bound to be disagreements.
As for that sad little list...
Sports: income source.
Residences: _major_ income source. (Duh?)
"Useless programs and classes": just another whiny disagreement. And an income source.
Admin Personnel: go ahead and look up a comparison with the rest of the private sector. I'll wait.
@@ichijofestival2576 well at least roads, gas, and oil are all useful commodities to the population country-wide. Unlike a college grad with a liberals art degree.
"That's a whole lotta pokemon go coins"
Hello fellow kids!
exactly
I wish this show wasn't so cringe, it has some really interesting facts and stories to tell but it smothers it in this terrible acting and cringey one-liners
Dan The Jester season 1 was better. At least this was tolerable though predatory loans are kinda public knowledge
You know, between that outdated joke and the "renewed for a second season!" joke (which they made in the second season for some reason), it makes me wonder if they script out the episodes months ahead of time and let them sit until they decide to shoot and air them. The past few episodes felt like they were written over a year ago.
The whole teen character was a fellow kid
This is literally me. I've been paying all I can afford on my student loans and I owe more now 5 years later than I did when I graduated.
but I thought you were supposed to make a MILLION dollars over a lifetime??
I'm surprised Adam didn't mention the fact that Sallie Mae split most of it's fedral loan servicing into offshoot company Navient to essentially protect themselves. Glad I don't have loans with them but damn are they crooked.
How convenient that they decided to skip over the part where middle class students are denied financial aid because their parents make too much on paper but not enough in real life to be able to afford paying $60k a year.
@Lizardguy I was talking about FAFSA, the same entity that sponsored the video.
You do know that this is a clip from a 30 min long episode, right?
And how “calculated family contribution” is so high when many of us are here like: “my parents aren’t gonna give me $2500/semester, just because they make that money doesn’t mean they will use it for my college, and they can’t afford to give it to me anyway.”
My Daughter is in Hock for $96,000. Like she's going to pay that off while working at TJ Max part time. No wonder these Kids are still in the Parents Basements.
Who the hell pays $96,000 for college? My college costs $20,000 for a 4 year degree.
Student loans are bad. Ok, yeah, but that's just the tip of the iceberg. You gotta talk about skyrocketing tuition, and how the easy availability of loans encourages schools to raise costs because they know students will still attend. It's a catch-22. You also need to talk about how employers expect everyone to have a degree, even when it isn't needed, which means that everyone needs a degree just to get an entry level job. Plus, in a society where nearly everyone goes to college, even the cashiers have bachelor's degrees, and are struggling to pay off their student loans. Oh yeah, and how many of the classes required for graduation are irrelevant to the intended career.
So in the end, we have people taking out loans, to pay for overpriced college tuition, so they can take classes that don't apply to their major, so they can get a degree, which isn't even needed to do the job.
The only way I see to fix this problem is to tear it all down, and rebuild it as a vocational-focused system.
And maybe we should stop thinking of higher-education as "basic education".
Yep. But will anyone have the balls to do it? The answer, sadly, is no. Not one person we have in our government will make it that way because most, if not all, of them are spineless, and won't stand for it. And you are correct on people thinking that college is "basic education" when in fact, college is "secondary education" , meaning that for most jobs, you don't need it. Wish I knew that before I went into debt. And I almost forgot, if your grades drop below a certain grade point average, they yank your loans, and start charging you your payments when you still are in school.
Ok, new plan. Someone hack Sallie Mae and completely erase their records. $1.4 trillion in debt? Where? Can't say we owe it if there's no record of it. Wish it was that simple.
I'm sure someone out there has the skills
Ashley Hudson if someone can create the Kronos banking malware and the WannaCry ransomware, there’s a chance someone can wipe out Sallie Mae. Problem is there’s likely a backup so in such an event this occurs. Then again, humans don’t particularly like to think about precautions until it does happen...
@Artist Watasi
I know a bit about government procedures in IT, and generally, they make regular backups to offline tapes. This is so that if the data on the live servers is lost, they still have an offline copy that can’t be touched. If a virus infects the network, they’ll quarantine it and do a full rewrite to eliminate the malware completely. And another benefit to using tapes is their longevity in lifespan and durable nature to physical damage.
Overall, I think you’d need a serious amount of coordination from guys on the inside to pull a stunt like that off imo
Colleges also have to stop making us take classes that have nothing to do with our major and career, or don't help us with real world skills.
Emma Falk Social science? Would love to not have those courses as they are completely useless irl
Emma Falk most of my college classes particularly the gen ed ones I was forced to do (gender studies, multicultural success, a bunch of "social sciences" and other stuff) had nothing to do with my major or career aspirations whatsoever. I don't plan on getting a job discussing gender studies. I feel like that really drove up the price. Not to mention my school forced students (unless you were a certain age, married, had kids, were in the miltary/ex military or lived in town) to live on campus for TWO YEARS. Some schools require all 4 years unless there's a special exception. My school also ever since I first visited and even 4 years later now that I've graduated they've always been doing at least half a dozen costly renovation projects. Like they want to build a brand new building for the business department when they literally just remodeled their building a few months ago. Many classes will require textbooks in a school exclusive, brand new edition with access codes (used books don't have this) that cost way more & force students to mostly shop at the campus store so they can price gouge even more, and you'll
Make little
To nothing if you sell them back, if they even take the books. Students on campus also have to purchase overpriced meal plans & you have to use all the "points". Some schools restrict the use to only a few areas & at certain hours. There's this whole long study about how college costs can be very different to different student experiences that colleges don't account for. It was published by The Century Foundation and is called "the real price of college"
It really bites... I feel like universities do too many unecessary projects that raise the price of tuition.
I think the idea is good, in that it tries to give you a broad education background, but in the case of the States it's compensating for appaling high school education. In Europe, pretty much all universities are your subject only, i guess medicine is the prime example: you start med school straight out of high school and graduate in 6 years. The gymnasium/lycee/liceo system is good at giving general knowledge (including art, sociology, economics, philosophy etc.), so you don't need it as much anymore, at university.
Amen
*laughs in britis-*
Brexit: I'm going to stop you there
....they never mentioned skyrocketing tuition costs to cover am army of administrators or all of the unnecessary state of the art facilities.
Now do one about entry level positions needing a degree and five years experience.
This depends on your willingness to relocate, honestly. Sure in places like CA or NY where there are huge population centers and thousands competing for jobs, the recruiters put impossible requirements to weed out the pool. Lower population areas still have jobs to fill and you may simply need to relocate until you can confidently show your CV and start taking jobs in big city centers (if that's where you want to live). Admittedly, this may not be ideal for families. I moved from California to Alaska and instantly found a job because the pool was so much smaller. When I left Alaska I was able to get a job because I did have the experience recruiters were looking for. Alaska is extreme, but you can easily find rural towns in the contiguous US of similar population size. They're still looking for engineers and teachers and nurses and therapists etc. However, when we're young, we tend to think that our home is the entire world and you don't realize the people who are your friends disappear over time anyways.
To sum up every Adam ruins everything's videos, people want money
Or.... socialist propaganda intended to make every American system look like the greatest evil the world has ever seen. College is too expensive because capitalism, FREE COLLEGE NOW. The wall does not work and is evil, OPEN BORDERS NOW. The electoral college is flawed and designed buy great oppressors, ABOLISH IT NOW. Lefty commie BS. I wouldn’t be surprised to find Adam in Bernie and Hillary’s back pocket/ colostomy bag.
@Bonnie Bot Wanting money is not bad but rigging the system and being ignorant of it and then hypocritically suggesting that its a good model is bad.
More like, Adam Ruins Capitalism!
ToddM1979 this comment proves why we need free college.
Higher access to education would greatly benefit society by preventing the creation of idiots like you.
Or you know... you could just nationalize 90% of the universities, so that Young people get a free education and can later repay their classes with taxes. no stress, no debt, and more people being able to get a higher education. Those that wish to put themselves into debt can still go to a private university...
No can do, not in the budget. America can't afford to help its citizens, they gotta help themselves. Otherwise how are we gonna afford buying dozens more unnecessarily expensive aircraft carriers we have no use for?
Before saying dumb stuff, you should know what you're talking about. Just so you know, public universities are a thing in the US. In fact, every state has their own state college.
@@ichijofestival2576 Well it's different if you attend a school out of state, and it depends on the school and the state. But I live in New York, and CUNY (City University) schools cost for the most part around $5,000 a year.
How can they kill off the poor then?
And colleges will suck
That moment when college is free in your country
No it isn't
No, it isn't lol
"free"
Genji Shimada having to pay higher taxes for a higher standard of living and access to education doesn't change the fact that it is free in countries, as in, nobody has to pay to enter a college. Definitions don't change because of outside circumstances
Brindleface Where do you live and how easy is it to become a citizen there??
College tuition has grown to an outlandish rate. The only reason I left the east US to go to Utah for college is because it was a choice between the $15,000 to $40,000 a year for college or $6,000 at a Utah college which has a well known and recognized program for my particular major. Because I had done everything I could to get scholarships though out high school, most of my school is covered so I just have to work to cover living expenses, which are much lower than the east US's living expenses, too! Almost done with college and loan free!
What I'm seeing in a lot of these ruins is that the government is corrupt as hell
I love how predatory loans were characterized by a lady supplying a college party (mainly kids underaged) with alcohol and then duct taping the bottles to their hands. A really intresting double feature of college loans bad and college alcohol abuse bad
Sugar daddy/mommy > student loans
And Baby boomers say millenials have it easy
@Brian Tyler
I mean, you could read the fine print of the interest rates on your loan contract, and estimate how much your degree is going to be worth to make an educated guess as to whether you’re going to be able to pay it off.
But no. Let’s blame our parents and grandparents for any dumb choices we made in life. It’s not like they’ve ever taken out loans, and had to make similar educated guesses on home mortgages and car loans.
@@UndertakerU2ber ok boomer
@@UndertakerU2ber no but if said education is needed for your desired occupation and you are too poor to pay for your college tuition the loan is now a necessity rather then a option. I will agree that it is not "all boomers" who are at fault, it is the people who were the government officials at that times fault but many people a part of the boomer generation complain about how we are wasting money on frivolous loans when said loans were needed for a higher level education.
@@RandomCorvid
Getting a loan is the quickest way to getting a degree, but there are other options and steps you can take in order to mitigate rising interest rates:
> Attend a low-cost community college and obtain an associate's degree
> Get a full-time, or part-time job to help mitigate the costs.
> Ask your parents or other family members for financial support
> Obtain industry certifications that will certify your technical skills
I'm just saying, but going to a private university by taking out a loan has to be one of the most naive decisions a college student can make. You're charged up the wazoo for expenses that could've been paid off with taxpayer dollars at a public university, and you're going to have higher debt and increased interest rates after college.
Despite what these "clever" guys above me are saying with an overused meme, I'm a millennial that decided to take my parents advice and go through college making smart economical decisions. While my peers have graduated sooner than I have, I have absolutely no student loan debt and am in my senior year of getting a Bachelor's Degree.
@@UndertakerU2ber I think what people are upset by an here is the real kicker is not many jobs. We made fun of factory workers in the 70s. Remember that poster of a man in overalls vs the man in a three piece suit? (Antiunion propganda) Manufacturing started to die as Nixion made relations with China and made it possible for cheap foreign labor. We kept up this trend into the 90's and then created the worst trade deal since free trade NAFTA. Now Mexico was free real estate for new cheaper labor. As we rolled into the 2010s we bashed miners...then...it crashed even more. See manufacturing offered jobs for engineers of all types, nurses, HR employees, and hell some factories even had barbers. So when we did all that antiunion and anti blue collar propaganda we forgot how much white collar was supported by blue and even more surprising was that most white collar could come from blue collar. I've met and known many engineers and more who worked the floor for years and later became engineers even without a degree, because they showed talent. So we walked away from the 70's and now the 90's is stilling playing the same hits and it's just making more loses for blue collar and almost double for white collar. How is it double for white collar? Its Saturday before the age of the internet and you go to the many museums across the country to get a taste of art and history. Maybe go get a nice meal to. Sooo many specialists because blue collar workers wanted to try upper class and so did white collar. But you dont need soo much "culture " if you cant afford it or justify the cost. I remember all the park programs of weaving baskets to blacksmithing and more of the sort. But as inflation caught up with the lack of jobs these opportunities tried up. Frivolous degrees can work if we have money
Back in the 1970s, I worked, went to college and had no debt. Since the 1990s, this is much harder to do. You have to work and leave school, go and take just a few classes and finish in your late 20s or early 30s, this is insane.
It's indentured servitude. Thank god I dodged that bullet
Basically, yes.
College loan debt through Sallie Mae is on point here. My loans have actually grown substantially because my monthly payment was so low that it didn't cover much interest. My original owed loan balance was 14k. 10 years later it grew to almost 22k.
He did forget to mention the disability clause. If you get social security payments due to disability, those loans get closed. Well, at least mine did.
Like bro…. To beat the system we literally have to physically handicap ourselves for life.
stupid american lol
This person has been doing a great job.Keep up the good work Adam.
I took out a loan to pay for a university degree, and since then I've spent thousands just paying off the fees. However, this has done nothing to decrease my loans, and now I owe over $80,000. What a scam!
This is one of those episodes where he would take a look at international models to keep college costs low!
You could go to a 4 year public university for far cheaper in nations like Germany!
because Germany is a civilized county.
I play Pokemon Go still, that joke is still cringy.
Bail Bias It wasn’t a joke
Pokemon Go is kind of neat, but the company behind that game screwed it up. If the game was more complex, more people would still play it.
Use commas right please.
Thank you.
A grammar nazi.
Agree.
Making it hard to get an education has been a key Republican strategy for over 30 years.
And that's why the danish schoolsystem is better... You get paid for getting an education
Ok yeah but you’re tax is through the roof, plus the danish school system is failing according to danish average bankruptcy files.
@@remar1213 That's what Americans say, yes.
@Sofie Nybye
Education is a privilege, not a punishment.
I’m sorry the people of Denmark see the education system as not being worth their time, unless they receive money with their education.
@@UndertakerU2ber
According to the UN list of human rights, education is a human right, not a privilege.
@@j.c.2240
Assuming the UN did declare that, the US doesn't bow down to whatever the UN proclaims. You do not have the "right" to force another human being to teach you whatever crap you demand for free.
“That’s a whole lot of Pokémon Go coins!”
Did u mean:
“How do you do, fellow kids?”
I'm so glad to not have had a student loan, some of my friends are still paying for theirs, and we're in our 40's
So...student loans got worse after I graduated college. Considering if I paid my loans according to their schedule I’d be paying double what I borrowed, that’s saying something...
Get a trade no student loans earn while you learn and at the end walk out with a guaranteed job with benefits in a industry starved of qualified people basically write your own checks
Jokes on Sally May, I never went to college
Skully Bats same here hahaha
Yeah but you probably work in customer service or break your back 5 am to 5 pm in manual labor
in israel tuition is around 2418.30 $ a year, it is subsidized and you can use a grant you recieve from being in the army to pay for 4 years of education.
it is amazing how universities in the us are soooo expensive.
education shouldnt have to cost so much.
You forget that if college is being attended by more borrowers, colleges increase tuition
5 years later we kinda got student loan forgiveness.. to a degree. I never had student debt.. but glad others are getting out of it.
Victim guy: I have to drink all these loans
Me an intellectual: flips it upside down
My teacher is still paying $400 because of student loans
Thank God. I only spent $150 for my college tuition fee within 4 years.
"For once Adam isn't the barf boy."
Lmfao
Nothing like chaining yourself to thousands of dollars of debt for the better part of your life.
Zane Robbins Like buying a house?
this is such a perfect explanation of why I'm putting off college in my twenties, it feels like having a kid!! I can't work enough to pay for it because I'm too busy taking care of it!
also I do not trust myself to make a tens-of-thousands dollar decision AT 18????
ive gone to uni at the age of 25. I also live in the UK. If you need higher education I would recommend moving countries for that time.
Wait! WAIT! YOU CUT THE VIDEO BEFORE YOU TOLD US WHAT WE COULD DO ABOUT IT, YOU BASTARDS!
That IS nauseating and quite infuriating too. This video was very well made Adam!
I never thought that I would actually see or hear something that would make me feel a little bit better about dropping out of high school at age 17 and not even getting a GED until I was nearly 30.
I was shocked to learn how high tuition is in the US and I’m in Canada
I love how ARE is making fun of College when they get (kinda) sponsored by Collegehumor
'You guys have got to come on my boat'...dirty word play!
I wasn't sure if that was Nikki Glaser playing Sally Mae. But when she said "These are the best four years of your life!" in a way that only Nikki can, I knew it was her. Hilarious woman!
I thought she looked familiar.
I live in Québec and literally COLLEGE IS FREE here!!!!
Thats why im going to community college and paying $4800 PER YEAR🤙
Best route
Thats why Im not American and paying $0 PER YEAR
That's still expensive tbh. Only $3000 cheaper than what some of the SUNY colleges charge for in state tuition
I pay half that for my community college
I paid a little more than that for 96 units for 4 years in my community college but yes you’ve got the right idea!
Feel da Bern.....😂
0:59 I have that penguin stuffed animal in the backround
Capitalists will defend this.
They will say let the market corruption run its crash course.
hahahaha, capitalist defending a government run disaster, makes total sense.
Mateus Reis When corporations run the government... yeah, it actually does. Idiot.
I'm a capitalist and I find the system appalling. Capitalism requires near perfect competition, which means a low barrier to entry to any given market. High tuition costs are the antonym of free markets because they turn society into a caste system.
Wasn’t the government the one that cut Sally May loose?
America: We’re awesome! Capitalism is the best!
Also America:
Greed kills.
"Capitalism" 85-92% of student loans are sold by the federal government www.fool.com/student-loans/student-loan-debt-statistics/ and then you need to add the loans sold by state governments and government banks leaving "private loans" in the single digits of percentage.... you should learn from things other than a pandering comedy channel
kelly brady then why are school so ridiculously expensive? Is it not capitalism? Cause where I live, school barely cost a few hundreds dollars per semester.
@@burntblueberrywaffles I assume they are government owned schools where you live? I apologize for getting salty, this dude irks me with his half truths. Even in the US the majority of the unis are government owned, its this whole nasty cycle of the government doesn't want to pay for their ever expanding budgets so they tell them to increase their tuition instead, then the government turns around and sells loans (that are not constrained by the value of the education because the government guarantees everyone with adequate grades access to at least some of them) the kids who have been told everyday that without a college degree you'll spend your life digging ditches... So the government sells the loans that they finance to kids they spent years educating to pay government unis and then every government spokesperson bemoans the evil of "greedy capitalists" and demands more government intervention when in the majority of cases the people that go through this horrible pattern (I did) never even encountered a private enterprise in the whole process
" huh, for once Adam isn't the barf boy "
You will always be the barf boy Adam👍
I like the cheerful music at the end while I contemplate the value of my entire academic career
Haha, America is screwed! In Australia we have a system where once you have a high paying job they will slowly take small amounts of money!
Think god colleges in my country are free
Bonnie Pettis the government
Don't tell them. Americans think reasonably funded programs are the same as communism.
its also impossible to get into college
They are free in most countries. Or you have small fees for parking or housing if you need it. As is everything in the US, higher education is a business. It's not there to increase the quality of life of its citizens. MS and PhD degrees are also far less stressful in most other countries (still requires a lot of classwork of course) both financially and psychologically.
Do you pay bills? Then you pay for your college...
Wow this is a really good analogy
One of many reasons as to why I'm just a tad hesitant about pursuing my degree. I just paid off my loan just last year...
Is that the reason why collage students are broke these days.
Their parents bail them out in college footing the bill, they have no budget skills at 18-23 years, and minimum wage job markets at a full time student compensates low incomes.
I hope Adam and his crew does a video on adam ruins overpopulation. This seems to be quite the debate lately, and there's even a fear thing going on in the Canadian media right now where the Government is warning funeral homes about an upcoming pandemic, and people are thinking certain Governments are trying to depopulate the world, but I think overpopulation is BS and Adam needs to ruin our fears of overpopulation.
Chris Ponsen I think over population could be an issue, because we aren't the only species on earth and many animals are losing their habitats, many parts of the earth are barely habitable, the problem could only get worse as our water supply gets contaminated, Some people own miles of land and tons of big houses while some don't even have a pot to piss in, also the space we need to grow crops, in the cities traffick Is the worse, people use more than they need other issues.
Cops are taking care of that.
This hits too close to home
*"Thas A Lot Of Pokemon Go Coins duuude"*
This makes me so glad I wasn't born in the us
Wait until you learn we have about 3x the disposable income as your nation.
@@YankeeDoodleDandy most likely not
@@royalpc3890 Have you looked at the statistics? The average US citizen has a significantly higher wage and lower cost of living than most comparable nations.
@@YankeeDoodleDandy yeah and I dont disagree lmao, but I mean like how do you know the Scooty doesnt live in a country like Dubai where people have lots of money and dont get taxed any of it.
@@royalpc3890 He's Czech.
Community college my dudes.
Go go go Sally mally 😂😂😆😁 government said it's covered
Thank you.
good that it is free in my country aka Germany ^^
Nightbook it’s never free to study anywhere, eventually your tax will become higher according to your job or whether or not you’re making money.
@@remar1213 So what? Better than drowning in debt
@@remar1213 It's free at the point of service. That's why we all pay taxes.
Guess joining the military wasn't such a bad idea after all.
Yeager Bomb killing innocent people was
Yeager Bomb Uh, I heard that in the military you have to have a college degree if you expect to get promoted.
@@Capcoor not true, that only applies to becoming an officer not an enlistee
Wish I had seen this 2 years ago. I cosigned for my oldest and went to Sallie Mae thinking they were the government and now my child has to pay 15% interest. My credit was in the 780s. The stafford loans didn't cover but $5000, so I don't know how the government is giving enough so we don't have to go to Sallie Mae.
its really sad i know some who stick in that hell whole student loans :(
Well, my country gets grants from the government for college.
taxpayers which means the people. Its called a society. Imagine that. America is not a society anymore. Its a workaholic stressed out rat race.
@Bonnie Bot From taxpayers like me, and most of us are ok with it. You'd have to be a sociopathic snowflake to be against public education.
I am so thankful I never went to college I knew it was a scam just from looking at the system
And thus an entire genre of jokes was born.
I paid the minimum for 7 years and one day realized that I still owed more than I borrowed. They also wouldnt let my make payments to the principle only.
It really should be illegal
"I'm 17 I know what I am doing" is the epitome of student loan problems. You shouldn't be allowed to go to school after highschool until you have 5 years of a break.
JoshTruff what would you do in those five years? You don't have any life skills so you probably working minimum wage, living in your parents house and that's no way to live
Eanred The American Gaul yes most people work in fields they didn't go to school for. I'm sure everyone could survive a few years. The churn of young people leaving work at 25 to pursue what they actually are pationate about or what is financially viable would free up work for highschool grads.
so u are suggesting i waste 5 years of my life working in a job i dont want to be? then study for another 4 years to only THEN hopefully get a job i want? (and this doesnt even include postgrad schooling like master degree, med school, law school, dental school, etc) you suggestion is absurd. What's actually needed is ppl to only get loans/go to college if they know their future career will pay enough to allow them to pay the loans back (for example: doctor, lawyer, many comp sci related jobs)
I disagree, it should be 6-12 months
I am a junior in college, majoring in software engineering. I am 20, and I live off of scholarship money. I have no debt. Just because YOU weren't ready to make decisions when you were 17 doesn't mean that you get to project YOUR past shortcomings onto everybody else!
What the hell would I do in those five years, anyway? Screw your "break". If I couldn't have gone to college, then I would have just spent those years learning to be a mechanic or a plumber instead! My dad was ready to live as an adult after he graduated high school, and he taught me to be ready as well.
Without this clear sense of duty and responsibility, I would feel purposeless, like a rocket that never launched. The lifestyle that I enjoy is different from the lifestyle that you enjoy. You can go live your life the way that you choose to, but leave me and everyone like me the hell alone.
*Pays $80,000 in Student Loans to go to college*
*Gets a job only paying $50,000 a year*
What a scam
This reminded me to make my loan payment, thanks.
Loans are similar to pain killers in a way they do help or in some cases are necessary to continue for some people but they are dangerous in the long run regardless of the situation (in fact i have seen a commenter who says that they go through so much pain no pain killers could stop it not even the placebo effect)
Yeah I'm 17 I know what I'm doing
Famous last words
Collage < Trade School
FACTS.
Can they really take it out of your SSI/disability? I had always heard that was the one thing they can't reach. I've been in default for a while and they don't touch my ABD. They've also told me once I'm on disability I can file for something where I don't have to pay back anymore--but that's only if I'm on total disability.
Is that Nikki Glaser? 😂
Thanks i love being talked down to. I measure all my expenses in pokemon go coins, especialy long after it lost relevance.
david LastName I know right? So glad I chose my education to match my outfit and not because I was afraid of becoming a failure and having to depend on my family.
Oh yes. I totally went to NIU because of their school colors, and not because I love the professors, their Geographic Information Systems program, meteorology program, the Spanish major, and fluency classes that make me even more marketable, the library, internships programs, undergraduate research, an on campus job, and the prospect of a well paying STEM job in the choice of two fields that I absolutely adore!
I don't even like the color red as much. Blue is my favorite color....
Bo Burnham?
I went to a continuation school and made us fill the application to fafsa but I didn't do it,i volunteer to join the army. ..stepping stone
I watched that yesterday at my High School!! 🏫
Saad Nabil isn't it illegal for teachers to share political views with students during class?
Eanred The American Gaul No!
4:43 that girl in the chair, is she wearing no pants or underwear?
that rhymed.
Pokemon go coins really?
Maybe
Paid off school and have the availably to retire at 33. Never taking loans again other than for credit scores! People really need to learn how money works!
4:25 Adam: It's now nearly impossible to declare bankruptcy, on a federal student loan.
Me: So you're telling me there's a chance? 😏
Yes, you must prove that your student loans would cause you "undo hardship" which means that your financial situation is not enough for you to take care of yourself, and prove that it will never get better. You'll probably only qualify if you become permanently disabled.