Refusing To Pay $80K In Student Loan Debt
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- Опубликовано: 11 апр 2021
- The Debt Collective was born out of the Occupy Wall Street movement and helps people dispute debts with a goal of cancelling their loans. It currently has over 700 people pledged to never repay their student loans. Watch this video to hear from borrowers who are planning to never repay their loans and to learn what consequences they may face.
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Refusing To Pay $80K In Student Loan Debt
This lady can refuse to pay student loans if that’s something she chooses to do, but to deliberately refuse to pay a loan her father (whom she implied had a lower income) co-signed on, thereby forcing him to pay for it entirely by himself and possibly ruining his credit, seems profoundly selfish.
Maybe they didn't? I have loans and my parents didn't co-sign anything.
@@michaelventura3797 it says in the video he was forced to pay because he co-signed
@@michaelventura3797 it's mentioned around 1:15 that her father was a co-signer
I see your point. I also wonder though why her father didn't help her find more affordable schooling options. She's right that it's ridiculous to expect 17/18 year olds to make informed financial decisions of this magnitude. That's where parents need to step in and help them make a sensible decision.
Yeah it sucks that this happened to her father
That lady was a bad example . Her poor father to be stuck with a bill , she probably still lives at home . Intentionally living under the poverty line is crazy .
Im an international student I took 16 percent interest on my college fee and paid 2x the fee of an American citizen by father kept his home papers at the bank in my country and took a loan and gave it to me.I studied hard and secured an job in an MNC and paid everything in 3 years .I still couldn't get why Americans complain about loans the debts are true but there are a lot of opportunities in this country for citizens that they don't realise do you know why it took me 3 years because as an international student I have restrictions I can't work outside , I won't be eligible to apply for all jobs and i won't be able to get hired in public clearance positions all these positions have a lot of vacancies America is an land of opportunities this country has given so much for hard working people .
That’s what happens when you’re a co signer
Because US now a days produces more “victims” than people who want to take responsibility for their choices.
@@drbh6331 Americans are some of the most entitled people on the planet. They could very easily work and make payments, but they don't want to.
Easier to live with your enabling parents . I was kicked out as a kid so I've never felt this entitlement
And if they don’t repay their loans... when their parents die they will come after the estate money.
Relying on the government to save you is one of the worst bets in the casino of life.
These kids should move to china if they want the government involved in their life this much
@@mackeerererallll6 Sure. You pay for prisoners to do it all day long.
I mean if no one pays than the losers are government because if we’re broke their broke. Just wait until the Student debt hits 5 trillion plus than the government will have no choice but to!
That's what Democrats and Liberals want. They expect handouts and cringe when they have to do things for themselves or take any kind of responsibility.
*american government
If she were in Europe, Australia or Canada, she might have a fighting chance because they actually care about their citizens
She says at 17 she didn't understand what 20k was. Now she is in her 30s and says she doesn't understand how a credit score works. 🙄
Having issues in paying your debt...
Lol that’s was my thought too
😅😭😭 She is a Joke no impressed they put these ppl in front of a mic
Very few people know how credit scores work
@@tesladrew2608 This is how credit works. You borrow money; you agree to pay that money back plus interest. Understand?
Being able to go to your chosen school and then dropping and switching majors and then living in dorms. Ofc it’s a luxury you have to pay for.
exactly. she could have chosen to go to a local community college, completed prerequisites there, while figuring out what major to pursue, and then transferring out to whichever chosen school.
This glosses over the first point she discussed, the potential lack of understandimg of what 10's of thousands even is conceptually. Sure it COULD cost something but it doesn't HAVE to be as costly and doesn't (as we've seen the amount of money wasted in the last year and a half on trickle down) have cost at all.
@@victoriakwong5369 You're speaking from a position of privilege. Assuming that everyone's parent(s), guidance counselor, etc were themselves able to willing to share this info.
@@stevenl.9969 anyone who has worked a minimum wage paying job would "understand" the value of money and how many hours you would have to put in to earn just $3000. To say she didn't "understand what tens of thousands even is" just goes to show the privilege of not having to work even a part time job before and during college.
@@stevenl.9969 Every student looking up and applying to colleges will always know community college is the cheapest option🤦. The price tag is part of the applying process. If she really felt that her family was struggling, she would naturally look for cheaper options like financial aid, scholarships, community college, etc. You don't need someone to tell you that - unless you don't really have to care/worry about finances.
As a high schooler with immigrant parents, I just googled and looked things up myself.
Takes $87,000 dollars of debt and gets surprised she took out $87,000 dollars.
I took out 8500 and they want 30000
@@tianachet713 care to elaborate on why your debt got to $30k?
@@canton444 probably a student loan from 25 years ago and racked up interest charges the whole time. the power of compounding was against her.
@@redsun5826 Unless its a fake profile picture, she looks like she is in her mid 20's.
*surprise pikachu*
Are people seriously going to purposely live in poverty for 25 years just to not pay their student loans?? I’ve got better things to do with my time, sorry
You ain't special either lower your attitude 🤡
@@AngelValdovinos they aren't in crippling debt for half there life for some weird principal. So clearly they are doing better than those people :)
@@obamahater4205 you as well**
@@AngelValdovinos I have zero debt and have a positive net worth so I think I'm doing pretty good tbh
No kidding lol
I just paid off my $95K loan on 3/31/21. It took me almost 11 years ( would have done it sooner but I had to change my mentality) I took the loan out willingly so I paid it off... interest and all. I feel GREAT!
Great job! Your next chapter of life will be so freeing! Congratulations!
Would love to hear some of your tips on getting through it!
95k in 11 years 😲 here in algeria university free
How much did you pay per month? Or what was your strategy to pay off the debt? I know someone who is in a similar situation.
Same here. My loans defaulted and after three years of credit headaches I called the loan folks. They were nice and put my loans went into rehabilitation. I paid $10 for 9 months and the loans were put back in good standing. The loans were turned over to another company where I paid off 11 loans totaling $74k in 2 years. I'm on my last $4k loan now.
*Intentionally living under poverty line to get their student loans forgiven/delinquished - what a productive way to live your life* 👏 👏
Right? Oh, I can't afford to buy a car or buy a place to live because I chose to live an impoverished life-style to avoid paying my student loan. These people are hopeless.
@Beyond Tribalism The Dems will - a new victim/voter.
A union paying job...living in San Francisco..working 80 hrs..and still living below poverty level is not a choice its a reality. Rent' food etc use 1.5 of my bi weekly check...and i have a degree...and i pay my student loans so try not to be so judgemental
@@stevebare5271 it's a choice to live in the most expensive city in the entire country. Why not move?
@@poodudeelite moving is expensive. I got a moving stipend to cover my first three months.
Girl pay on your student loans. It isn’t worth 20-25 years of your life living on the edges of society. Pay on them and move on. Spending the prime of your working age intentionally in poverty makes no kind of sense
She likes to be a professional victim.
But she’s smiling still
I don't think you understand. It would be IMPOSSIBLE for her to pay at this point. That 15% extra tax they impose on her on her income will go to INTEREST ONLY and NEVER to principal. They make it IMPOSSIBLE to ever pay the loan down. So you get stuck living off grid forever or killing yourself. Gov't don't make deals like credit cards and banks do. They are ruthless. Their goal is to oppress and keep everyone down. She would NEVER get out of poverty if she was working on a W2 job and would likely be forced into homelessness and/or suicide.
@@brendaholiday2634 it isn’t impossible. Just get a better job or change careers. It’s more than possible. There are people making millions selling stuff on Amazon. Join them. This is America. Stop complaining
@@oco987 No no no - you don't get it. Even if you're making 100k a year - there's 10k just right out the door for INTEREST only on your school loan. On income-based plan. I don't think you are aware that they will not ALLOW you to pay principal until and unless you pay ALL INTEREST which by then could be 50k. Unless you are making an OUTSTANDING FORTUNE, you cannot within normal and reasonable expectations ever pay the loan down. So don't tell me. I was in absolute SHOCK to discover this reality as a worker post graduate-school when the Recession hit. My loan just keeps going up Up UP from 80k to 140k now. There is really NO hope and even Elizabeth Warren's office offers NO HOPE at all. I consider suicide often. And by the way, with your shaming "stop complaining" statement, you sound to me like a quite cruel and toxic person that supports the evils of USURY. I do not RESPECT people who support criminal loan sharking. You raking in profits from student loans? Is that why you choose to be cruel and insensitive to other human beings?
"We don't want people to commit financial suicide" - tells people not to pay off their student loans.
I thought I was the only one who noticed that.
@@leogrande204 Nope
Not just that, they said Students shouldn't borrow more than they expect to earn when they graduate. I graduated during the recession and made half of my loan balance. I am not sure you can plan that out fully. For those that have no choice but to borrow to go to school, how does that work out?
Yep...their advice and what they're doing themselves is financial suicide. They are literally picking the worst option.
They just want people to commit REAL suicide. B/c that is often the only way out of these usurous loans.
its kind of hard to feel sorry for this girl because it sounds like she just doesnt want to work or pay her loans?? she didnt share any personal circumstances that are preventing her from getting her life together.
shes wacko
bet she's given a couple bucks to BLM
Nosering girl isn’t a good example, I agree.
You should question the system that throws thousands of kids into debt with little to no questions asked. Why did education become so expensive? Who is profiting from this? Some do, but not the childrens! Why is money a greater filter to uni than talent, hardwork and intelligence?! These are the real questions, not the individual, specific examples, chosen in a video.
@@AlexandrePRODHOMME isn’t talent, hard work and intelligence subsidized with grants?
"Give me money for college and I'll pay you back"
"Okay"
*10 years pass*
"Are you going to pay me back?"
"No I'm protesting. But also, give me more loans for a car"
@CNBC Make it no
Lmao see how ridiculous people are. They are already into debt and they want more debt. I’m a full time student and work as well, I knew since High School that I wasn’t going to be able to afford a state university so I went to a community college because I could afford it and graduated without a debt thanks in partial to financial aid and my own money and Now I’m in a 4 year college but this time I’m paying from my own pocket all tuition cost plus books but before I got into that I consulted what were my options to pay that and they told me payments were available now I’m about to graduate without debt again and with an excellent credit score because I only own $300 in total debt from an appliance I bought and have been paying all my credit c in time. One of my professors used to say if you see a person that you know have a minimum wage job or at least not a high paying job driving a luxury car, that person is probably in so much debt.
Does your college degree make money???
BMW 328i sport package 😭
🤣 it says everything when a car dealership can't get you financing.
People need to understand that they do not need to go to college immediately after high school. It’s insane! High schools and parents need to change the narrative here and educate students on how to manage debts.
It's the parental pressure
1st 3 lines!!!!!! Work and figure out what you want to do. It may not be college.
This is a great thought. The cost of higher education has increased substantially in the last 20 years that students need to go with a plan. Treat college as a financial investment. Look for ROI (return on investment) opportunities in the short term and long term.
@@i.03983 not always. I see that there is a huge pressure from high school counselors (the high school themselves), and a societal expectation to go to a 4 year university. I believe that a lot of students can benefit from attending a technical college until they have a good plan in place.
@Grayson Collins unfortunately I agree and disagree. Lol. There are opportunities in a quantifiable education structure at a higher education institution. It opens a door to certain jobs. However, I do see that some can learn on their own and develop skills on the job as long as they are given the opportunity. I think every student needs some proper counseling and planning before they start college. If they decide to.
Dave Ramsey having a heart attack right now
B.S. in Left-handed Puppetry
@@AnonYmous-mw5lc lol
An M.D. in D.U.M.B.
Popped a blood vessel.
😂😂😂😂
Don't wait around for government handouts. I was ~123K when I graduated school in 2017, I have paid around 70K since then and am on track to hopefully finish it next year. With that I am still able to travel several times a year domestically and internationally, to keep my sanity. It's a grind, but doable.
That's a story the news should be covering
That's impressive! Keep it up the freedom will be so much sweeter!
@@chambersr1176 agreed or about what those of us who are actually taking responsibility and bravely facing the challenges of paying the loans off are sacrificing to make it happen.
Yes we will wait for government handouts what’s wrong with that you dummy
What degree did you graduate with ?
She is choosing to be stuck in this position. Paying off $67k is rough but possible for sure
There are 50 different associate degree you can get that make 50,000 or more a year starting out while only having 5, 000-10, 000 dollars of student loan debt to pay stop going to school for 50,000 you slow yourself down with the debt
We will have had 1+ years of 0% interest on federal loans as of September. I bet she didn't pay anything on her debt during this period.
Will you shut up
She could aim to make 10k extra and get it paid off in under 7 years, at one point I was working overtime and paying 800$ extra on my loans. Yes, I didn't have the nicest shoes or purses at work but my loans got paid.
@@rdaniel4810 😂😂😂😂😂😂what a loser
This is an awful excuse. Who doesn’t want to strive to be better and get out of debt? Why would you ever be satisfied making nothing.
women deserve loan forgiveness, we are victims
@@klel4334 get help😂😂😂😂
@@klel4334 Sarcasm?
@@klel4334 A victim of her personal free will choices, signing a debt contract and then not finishing her studies and not anting a student job to pay her 1000 dollars class.
She was getting a degree for a job that doesn't exist.
Guys, College is not worth it.
The funny thing is the job does exist. It exists as teaching this useless garbage to another class of students.
A job? How bourgeois.
@@chaldunalder touche 😂
Geez. I remember during my senior year of high school my mom telling me, “I’m not going to be able to pay for your college so you’re going to have to figure something out.” (Or something along those lines). I went to community college, got my associates degree and then transferred to a 4-year university for my bachelors. Because of my low income, my grants during community college covered all of my academic expenses. Didn’t take out loans until I transferred and did the cheapest options possible. Lived off (but close to) campus, biked to class almost every day, packed my lunch, no meal plan, and worked my way through college part time. I graduated with about $11k in student loans and I’m on track to be done paying it off in the next 5 months. You just gotta be smart, discipline and have a plan if you agree to take out loans.
My mom told me that in 4th grade when my older sister was getting ready to take the SATs. I asked how I would pay for it then and she said I better get scholarships. So I always focused on getting good grades. Got 22k a year from my school, financial aid for low income covered the rest of my tuition, and then I worked and won an additional 15k in competitive scholarships to help with room and board for 3 years. Took out about 22k in loans which I expect to pay back within a half a year after I start working at the job I have lined up.
When I wanted to go to graduate school for a year, I told my school I only would pay if I didn't have to take out more loans. The degree wasn't something I absolutely needed. They gave me a 10k tuition discount on the degree and I was able to cash flow the rest working overtime.
Sounds like what I did, but triple the loan amount because I’m in law school. Still...gotta hustle. I wouldn’t say that about everyone, but this girl needs to hustle a bit.
The problem is the modern college generation just isn't willing to do what they know they must. College has been packaged as this ultimate experience and something that must be enjoyed to the fullest extent. Just no! Get in, be smart with money, realize the real reason you're there, stay focused, get out and then live life. Cannot program sense no matter what we try.
Way to go.. wish I had that mind set.. I took out loans and I had over 70k now I’m down to 34k still got ways to go.. But, I’m getting there.. I made them loans and I’m paying them.. I’m tired of being a slave to the lender..
@@Matt-mh5ud Yeah. Some people get screwed with tuition, but a lot are spending money on drinks and dinners, living on-campus with complete meal plans while still going out and it’s like a lot of their expenses aren’t tuition. So it’s not school as much that makes it expensive. Though it’s also student fees and healthcare plans and expensive required books and transportation that eats it up. A lot of people think about tuition, but not all the other expenses they can cut. Some you really can’t though, but most you can.
Just paid mine off today. I totally ignored my federal student loans for years after I dropped out of college. They eventually defaulted and I just dealt with having a horrible credit score. The first car I purchased, the scum bag dealer let me walk out with an interest rate of 26%. It didnt take long to fix my credit though once I made up my mind to stop ignoring it. I worked with the lender to get them out of default, paid on time for awhile. I also had racked up a sizeable amount of credit card debt, which I also started chipping away at while at least making the minimum payments. In the period of about 2 or 3 years my credit score shot up 200+ points. I only recently decided to aggressively pay off my debt and am now working on my last debt which is my car! You don't have to live with debt forever, you just have to be dedicated and be willing to sacrifice to fix the mess you dug yourself into.
these morons don't get it... you can't run from your problems.
They'll learn the hard way after they realize a politician or banker IS NOT their friend.
No one is going to help you but yourself.
Congratulations! That’s amazing Stephanie!
Congratulations 👏!!!. Did you have to pay off the college debt still? I know you mentioned that it defaulted and went on your credit.
Nice job getting yourself out of that hole and understanding only you can fix it! Dont get yourself a new car when you’re done paying that one off, drive it Till the wheels fall off lol
26% interest on a car is mental illness.
Wow. What a drain on society. Story Young is clueless and embarrassing. She loves being the victim. These people are disgusting. Passing the debt to others is disgusting.
Honestly she should of looked into that before college. I looked at all this before I went to college. Had about 30k in debt but was able to pay it off. Debt is not a scam, it’s a choice you put yourself in.
Amen
Definitely. It’s the skyrocketing academic fees that are the problem.
"DEBT IS NOT A SCAM"?? Yes not all debt is a scam but be honest, some debt is a scam.
@@Naturefan354 some of those pay day loan places are. But student debt isn’t
I would say predatory as a better description for student loan debt.
She said “u don’t know how much is 20k when you’re broke.”
Actually I fully well know how much $20k is because I never had it. I would tread more lightly onto things I don’t have or understand instead of “borrowing” it.
@CNBC Make it LOL you ok?
That was the strangest take. People who don't have money KNOW that 20k is a lot of money. It's the rich kids who think it's fake monopoly money.
@@yukidejesus1956 did CNBC Make it say something to you?
Exactly.. When I graduated and income went from 24k to 65k I was scared to spend almost any of it..
she is just really bad with money
EXACTLY!! i made the choice to not borrow and go to college seems to have paid off now all the college people wanna whine like they have for the past 15 years about student loan debt
“I don’t know how to improve my credit” hm maybe paying your loans would be a good starting point
Can't pay if you don't make the money dearie!
She's at point where they won't allow her to pay. They will only GARNISH for INTEREST only and the loan balance will just increase every year. Her only way out is win the lottery or death!
She will never have any meaningful credit.
I worked while going to college, had a payment plan to pay tuition every semester, I missed out on ‘the college life’ lived off campus, drove an hour to school MWF.
Mike M did you graduate debt free? Is it really possible to work fulltime and be a fulltime student?
@@francisconegrete3443 yes Debt free, used to work 12 hour shifts, Friday, Saturday and Sunday, then every other Thursday, would go from work straight to school Monday mornings and from school to work on Fridays and every other Thursday, wasn't easy.
That’s what I’m doing rn
This is how it’s supposed to be done, good for yiu
Unless you worked above min wage and lived with your folks, I'm not sure if that would work for everyone. Even if it was a state school.
Canceling student loans is not just about people not wanting to pay. It’s about regulating the system that allowed a naive 18yr to easily accumulate such debt without realizing it.
Forgiving student loans is a discussion that’ll likely never be fully resolved. However, stopping new students from falling into the same situation should be a simple priority.
I hope more future college students are thinking about other alternatives. For example, going to community college then transferring to a 4 year. You will have little to no debt after transferring and you'll have a degree.
Are you having issues paying back your loans....
@@mavadomavado6640 Nope. I came out of college with $2,044 in debt. And I'm using my degree.
@@PrePre_ can we be friends
@@PrePre_ can I borrow $20?
@@geraldtone5914 🤣🤣🤣
Confucius says: "Lazy people who can't grasp the concept of $20,000 should not take on $80,000 worth of loans if one is too lazy to work to pay said loan back"
Great comment haha
Probably because high school does not prepare students on how to manage money in real life.
She’s not lazy, wait until fresh graduated with 2 years of experience 😅
Facts
Perfectly said
So you're telling me these students signed up for student loans and now they don't wanna pay it? lmaooooo
Right....
Its very hard to avoid not taking on studebt debt.
@@daple1997 no... No it's not...
@@daple1997 community college is a few hundred a year then transfer to a state school. It’s really not hard, you can graduate with under 20k in debt for an engineering degree. She chose horrible options and is entitled for it
@@dynamichunter843 back when I attended community college it was not a few hundred a year. Definitely about $1,500 per semester ($3k per year) but I get the point you’re trying to make.
You get a loan and expect people you mock, those that do not have college degrees, to pay for your college that winds you up at starbucks? AND you make your father pay for the loan? The absolute entitlement and PrIvIlEgE of this person.
Where is this outrage when tax dollars are used to fund corporate subsidies? Foreign wars? Literal genocides? Of all the things to which tax money could be put to use, student debt relief is hardly the worst. Combined with laws to cap interest and tuition prices, it would actually address an economic crisis that was entirely manufactured by people whose stated aim was to restrict higher education to the upper classes.
@@matthewcaldwell8100 I don't carry an outrage card with me that has every injustice that our tax dollars were used for... The video was on student loans, so that's why my comment is geared towards student loans. wtf...
@@newguy3588 And yet this is the hill you're dying on.
@@matthewcaldwell8100 I just made a comment dude, not much to look into here.
She must have studied Entitlement with dash of no responsibilitiee
Just stfu 🤫
Nope she went to school in the states where crack head capitalist laws prevent tuition from being affordable. Very backwards compared to other nations. Nothing entitled about wanting a better life for yourself.
@@anthonyd9844 In European countries, you will get a student loan but you will also have to repay it. And for other bank credits there are also credit scores internally in the bank to see if you can repay the mortgage, if you cannot than no bank credit for your home. Plus you often need 10% of the total price of the home in my country where tiny flats costs 800k, so you will have to save 80k and often your monthly mortgage repay must be lower than 40% of your net income.
Please stop claiming things about Europe that are not true, like many Sanders fans do make false claims on Europe.
Go in Scandinavian cities, live there for three months (rent a flat, buy food, go to restaurants or other activities as you would as a student) and tell us about your everything is for "free" life there. It isn't, high VAT taxes, high fuel taxes, high food taxes, high car prices, high technology prices, high home prices to buy or to rent. Try it and you will see for yourself.
@@anthonyd9844 And fun fact European countries are all capitalist free market countries, non is a socialist country.
The socialist countries are among the worst GDP per capita in the world and half of them do not even have high schools for everybody.
If y’all actually believe that there is going to be student loan forgiveness by the wave of a pen, you must be on something stronger than crack. It’s great to believe it but even in the video the guy that was vouching for forgiveness said that you have to basically manifest the “idea”. That’s slim pickings. Forgiving student loans will not fix this broken system. It’s just a symptom it’ll happen again
On April 1, Biden asked Education Secretary Miguel Cardona if it's within the president's powers to cancel $50,000 in student loan debt. The department has yet to announce its findings.
@@Sunny-gy3vu it's not going to happen.
@@NN-ix3ku I don't know, I wouldn't be surprised if they say he can act on his own. If he can't, then I doubt it will happen.
Probably won't happen. The real issue are high schools not teaching basic finance
Every high school senior must BOYCOTT college. And not take out these usurous loans that are established to keep you in indentured servitude all of your life. There are other ways to get educated. I think we will be much better off when all the colleges are closed for good. People will have a future then and not be stuck in this awful debt forever. With only suicide as a way out.
I'm so sick of people acting like it's a big surprise that they have to pay back money that they borrowed. I grew up poor, in a blue collar hispanic family, first in family to go to college. I was scared to death of ever borrowing money or having credit cards (my dad filed bankruptcy before). I only borrowed about $1K in undergrad for on-campus housing and they made you watch a seminar that explains how loans work and how you would have to pay them back one day. Do all schools do this? I would hope so.
Imagine you weren't the first in your family who went to college and had successful parents that went to college who pressured you to follow in their footsteps. However, back when they went to college, it was only $4,000 a year instead of $40,000 now. What may have been worth it then isn't worth it now. That being said, as somebody who took out a manageable amount of student loans and paid them off in full early, I agree with you overall. Also, it's my understanding that the seminar is required for all federal student loans.
I also grew up in a Hispanic household terrified of loans because we never had money to begin with.
@@MattSezer In my experience, people push kids like me to go to college (the higher you go the better) to level the playing field, but not everyone *should* go unless it's for a specific field that requires it.
Schools and loan servicers have seminars/programs on this. These people just ignore it until they can't lol
It’s basic math
Imagine the level of entitlement you have to have to get a loan so you can study something that doesn't benefit society at all, then just not pay it and demand that the taxpayers (people who chose to lead financially sustainable lives) pay it. Then to voluntarily live in poverty to keep from paying it.
This is horrifying.
No sir, you are horrifying
This is sad to see. Getting a loan is a choice and a responsibility. I made a video on how I went to college debt free. I was an international student and I made a lot of sacrifices.
plain and simple don't go to a school that you can not afford. I went to a city college first then transfer to a UC. left school debt-free.
Exactly! My CC actually paid us to go college, used that money to pay for UC expanses. It seems like people just want to play victim.
Community Colleges are a gem. I’m in a 2-2 program that earns me the same degree from the same 4 year school after transferring for a fraction of the price. High schoolers don’t understand the value of a CC
I just wish that other methods of success were highlighted. Kids are told from q young age to go to college and you will be successful. Luckily I chose a good degree with high pay in 6 figures but I feel like I would've moved out my parents house and doing much more already with a trade job or something. People who are in debt try being a truck driver or something.
Doing that right now! people just want to go to University right away because it's the fun thing to do without thinking of the consequences.
Agreed. I did a CC & the transferred to a 4-year. I remained debt free, earned the same education, and graduated with two degrees (an AA & a BA). My kids know that if they plan to attend college, I will help if they go to a JC/CC first. It just makes more sense!
Going to college is an investment in your earning potential. Just finish your degree, get a decent job, and pay off your loans. How can you even think about getting a car loan, or mortgage if you’re not even paying off the loan you have now?
I believe, they think that paying 500 a month is good enough, or whatever their monthly payment is. Then they think they can afford it and then go look for another loan for a Mercedes, BMW or any other $20,000+ car. Then finally they can afford all of that plus their too expensive of a home and have everything they ever wanted. Not knowing paying for the rest of your life is gonna be their whole life until they die. Very sad. I refuse to live like this. Stay debt free my friend
@@CwingsTv This is straight up facts. I lived like a caveman college student, even after landing a $150k plus job. I live in switzerland (originally from norway) and if u want a masters in finance out in most of europe u either need to be top 3% of all high school students in grades or pay for private university. i paid $25k for tuition for 3 years to get my degree... i was fortunate enough to land a good job, but a lot of people are not... ended up with $89k total because i got some medical expenses while studying. paid of student loans within 2 years. saved and invested for 7 years until i reached my goal of $2 million net worth. I did not get some stupid BMW or a nice home in the begining. i worked hard so i can enjoy the rest of my life the way i want it. today i own a Lexus RC350 and a Porsche cayenne. i have a $1 million mortgage, i take out 5% of my investment returns each year to pay my mortgage costs (i annualize 24% on average, so my investments are still growing).
I lived frugally for a few years to get freedom for the rest of my life. the borrower is a slave to the lender. If everyone just lived like they were broke for a few years of their lives they would be millionaires for the rest of their life. but people will rather live their life to the fullest for a few years and end up with broken personal finance for the rest of their lives. and then they turn to the government and blame them for their own failures.
@@mhmhmmhmhm5162 agreed man! I congratulate you on your financial success! I am recently starting out! Going strong on finances and living frugally. 100% debt free! Never be a slave to the lender. They will only bend you over! Stick that high interest rate where it hurts. I hope to reach the success you have, live the rest of my life in freedom. I’m reading books and researching all I can, while asking people advice and their ideas who have done it before me already.
@@CwingsTv That is great man, im wishing u the best for the future! Thinking smart about money will improve life quality by so much. compared to living broke with a stupid expensive car!
No, you are stuck in these usurous loans forever. Often suicide is the only way out. What is best is for high school seniors to completely BOYCOTT college. SO they don't screw their lives entirely. There are other ways to learn. College is TOO expensive for most Americans and sacrificing their whole lives to go to college is just not worth it.
Government forgiveness is unfair for people who didn't go to college or people who went to the cheapest and were careful with money
It’s not about fairness. If that argument holds true then food stamps, affordable housing etc wouldn’t exist
@@jamesmyers6739 well you don't chose to lose your job and not feed your family but you do chose to go to an exspensive college
I agree, daniel
@@Daniel-gs9eh some people chose to not work and have children. Government should put a cap on how much these colleges charge to attend.
@@jamesmyers6739 the only reason college is so exspensive is the government will give loans over 80k to people. You also don't need to go to an exspensive college in state colleges or community colleges are just as good and a lot cheaper
"I studied Journalism, Social Thought and Political Economy" Our younger daughter wanted to major in Journalism. We politely told her No Way.
It’s either stem or law. If not tell her to go to trade school. College isn’t worth it if ur gonna be a slave for the rest of ur life.
@@rordongamsey3057 Not many women would even consider going to trade school.
Good for you.
@@lillybell2557 You didn't get just a degree. You set yourself up for success the rest of your life. Believe it.
Theres money in journalism though. But you cant be lazy.
Or just pay it like the rest of us, improve your credit, buy a home, and live a good life instead of being a lazy free loader... but what do I know
Having an education should not cost this much! An educated society is a better society. You are the reason we have so many dummies running around because of your selfish thinking.
@@ryanortiz2648
It wouldn’t if there wasn’t so much easy lending.
I see your comments everywhere lol especially Graham’s videos they’re always good too 😂
I like you. You're in every financial video I watch. You're growing on me (like a weed, but a good weed hah)
@@552mustang
Yes... let the evil flow through you... 😈
Good luck finding a good paying job with that attitude.
PS- I’m 30 too. I made payments when I was living below the poverty line even though I had to eat Ramen and not turn the lights to often on in my apartment. My loans are paid off now.
@@derek4412 that’s awesome! You should be proud of yourself. Don’t worry about the people living it up now, they’ll still be working when you’re retired ;)
Yeah I didn't go grad school because I was tired of being poor.
Didn’t some gurl get scurvy from eating mostly ramen
You put your health in jeopardy eating like that
@@winston3737 👌
Yikes, poor father who co-signed those loans!
What's even more upsetting is her lack of empathy for the risk her father incurred to do so. She doesn't deserve to take out anymore loans for cars or houses.
He only has himself to blame for not teaching her the skills necessary. The girl doesn't even know how to build credit.
If someone can get away with debt by saying “I didn’t know how much $20000 means to me at that time.” Everyone will borrow as much as he can. This is flat out irresponsible. Think about how you can pay the debt before you take it.
This is ridiculous. If you keep the money in reserve and they forgive 10K you are going to feel foolish. If they don't, you have the money to pay it off.
I paid mine off (took me 10 years) but I would have been grateful if the govt gave me 10K in forgiveness
I have student loans, and on a payment plan right now. I'm not asking for loan forgiveness. I just wish the interest are a little lower, or just stop interest accruing, it would be great to catch up and give me a chance dig out of this hole of debts
Nice video!! Nevertheless, invstment are the easiest way to make money irrespective of which party makes it to the oval office.. I Invstd the loan during the deferment period using half my student loan employing the help of Finacial Adviser *Kathleen Diane Hayden* Making a smart move keeps you one step. i did a mrkt research studying the recent chart before making moves on mrkt choice. I was on a stable 185 grand weekly paying off was not hard.
I wouldn't care if they just made bankruptcy either, but this full forgiveness up to $50k is total bs. Most of these people can afford their loans. I struggled with mine for a while, but I finally paid them off after 25 years.
@@kimberlyadkins5866 Student debt should be forgiven and it should be locked at zero interest. I'm still struggling paying off. right now I'm in serious dilemma on what to do. what was your experience with Kathleen? how can i reachout. 185 grand weekly can solve all my finacial problems.
This is a very important topic. In my country, kids are going to schools and university to graduate with all kinds of fancy qualifications yet basic financial literacy remains very low. We need to start educating people at a young age as everything you say here is spot on.
Great content - keep it up! I wish I had access to this kind of free information when I was 20 years younger and making all the mistakes of someone in their early 20s!!
I am attending college, im majoring in Mechanical Engineering. To reduce the loans I need to take out I work part time (20 hours per week) and I am conservative with my money. The student debt problem is a result of students not being responsible with money and ultimately accepting they are going to never get out of debt. ADAPT & OVERCOME!
I’m in school for Industrial Engineering and it’s so hard to work and go to school.
@@katlennat1680 I agree it's tough. But to me it's worth it.
@@rayzddpartington4198 To think she chose a worthless degree for $80k loan
@@rayzddpartington4198 i agree. Sometime we have to very uncomfortable to get comfortable
@@katlennat1680 you and the OP are smart enough to study engineering instead of some useless degrees.
So now it's a right to borrow and refuse to pay back?
my friend bought and restored an RV while in high school when he went to college he parked it near the best free wifi spot he could find instead of paying for a dorm room he just parked it at the school and used a bike to get to classes spent the summer working as a farmhand
*pay your debt and pick a marketable skill. Don’t like the cost? Tell your rep to stop the gov from guaranteeing loans and make them bankruptable*
You're only hurting yourself in the long run.
Student loans, Auto Loans High health insurance high housing cost. Staggering wages. Cursed Generation. But yet baby boomers claim we are lazy and entitled
@@rhenry212 Well no one forced you to take on those loans in the first place. Why don't you explore the free tuition scholarship options in Europe than take on $80k debt before starting out life?
Compound interest working against you
@@rhenry212 boomers are lazy.
@@rhenry212 oh definitely a lazy and entitled generation. Plus a ton of excuses.
Lol... take a loan less than your annual income? So every Doctor like myself are screwed over. I’m sitting on $350-400k worth of loans and all my colleagues are as well. Our system makes it impossible for us to pay it off! 😡
You’re a doctor Do you Not make six figures tho???
Depends on what kinda doc he is and at what point if his career. When you’re in residency the first 5 years you still have to pay for living expenses while only making 50k in a high stress environment with ~300k loans. After that he should be making 100k. The education system’s set up so it is very common to graduate law school with 100k debt and medical school with 300k-500k debt.
While I do agree college tuition is absurdly high, choosing to take out a loan to go to college is a personal choice. Pursuing a useless degree then dropping out is her own fault. And by defaulting she’s just ruining her future financially.
Okay this is just stupid. We choose to go to college and we understand at the beginning that we need to pay. Protesting your loan is just going to ruin credit. I work a full time job, go to classes, and pay as I go. It’s not that hard.
I believe in free or affordable and equitable access to higher education and trades programs. But protesting loans is just stupid
After a year and a half of college, I realized student housing would lead me to taking out massive loans. I dropped out after three semesters and went to the technical college and got a full time job. I currently have 8k in student loans. I do feel students should pay their loans by consolidating the loans and using the income base repayment.
My school was charging 20k a year just to live there. I did a long daily commute instead
Well said.
Student housing is usually more than the tuition. It’s not really worth living on campus. People need to start staying in state, and go to college close to their house.
International student, here. I chose a school I could afford, I could only work a limited amount of hours, unlike American students who had more options. I made sacrifices. I worked every hour I could to not accrue debt. I finished with a surplus of money, and a 3.34 GPA.
Out of school I did what I could to pile up money for grad school. I chose a school I could afford, again, and found ways to work and invest throughout it.
I did not come from money, but I worked hard for it. My dignity is a bonus. Make strong choices.
Facts bro, u got my respect and ur right there kids grew up as citizens and have so much options their just lazy and think the government got their back
Probably too political for Graham Stephan to review, but the look of shock and horror on his face... I can only imagine.
Would love to hear Graham’s take 👍
Do it Graham!!!
I wanted to go to a university but I think I'm going to a community college first because this is scary
do free community college for 3 years and get all A's, then transfer for your last year to a brand name school and you'll get the same degree for 1/4 of the price as everyone else at the brand name school
luckily due to my hs performance my city offered up to 60 credits free in any of their cc, and some of the universities i wanted to transfer didn’t accept more than 60 credits from a cc, i am so glad i did that and you save 2 years worth of tuition and books you would have spent at a more expensive place
That’s what I’m doing rn At first I was ashamed of it but now I’m proud because I’m saving a lot and I love my school Highly recommend
This is an excellent choice! Community Colleges are great for knocking out those first couple years of Gen-Eds are early major courses. Best of Luck!
Go to trade school. College is a waste ot 4 years of your life you are never getting back.
This is an example of true victimhood mentality. The fact that important issues don’t make the news when they don’t fit a narrative and this does is sickening. Do better CNBC
She studied “Social thought and political economy”... 🤣🤣🤣 No one to blame but yourself!
Picking an useless degree and dropping out...talk about a double strike 🤣
The parents are to blame as well. Who is willing to co-sign on a student loan of that magnitude? Who lets their kid go to such an expensive school for a useless degree? They should have counseled their daughter to find more affordable schooling or a different degree. And if she was set on it, they should not have taken on her liability.
@@Mr1wd lol freaking double whammy
Tbh I really think some degrees need to be banned🤣🤣🤣. I can't really blame these unis, they just want to get money. But come on, gender theory, female studies, these are McDonalds level degrees, no way you are making enough with those degrees. Some parents also need to be slapped, how can an adult allow their kid to take upwards of 80k loans for a degree in feminists studies.
I didn’t grow up in money but I had to work out to find scholarships and grants to go to college. Not only that but I went to a state school and I worked through college. I did get some student loans, but not a tremendous amount. I think part of the problem is entitlement. You got to find other ways to pay for college. Can’t depend on the government for everything. Also you need to ask yourself if you even need college for your career path.
"We don't want people to commit financial suicide."
Isn't that exactly what you're doing?
They tax you more and prices will increase. Billionaires compensate for 70% of student loans and mortgages and the bank lends out 90% of the money. If an 18y is not responsible enough for their actions then we live in a snowflake generation.
@@multiplayerlegendgamer3617 What a load of bull. Keep licking boots, maybe it will get you somewhere.
@@multiplayerlegendgamer3617 people are too dumb and poor to understand this.
I remember I worked in a coffee shop next to students like her who all thought they were better than me because I wasn’t in college or grad school. They were always so happy to be going back to school never thinking about the consequences. Some of these women yes women lol would go back to school just to feel like they are doing something. They would tell me these really weird majors to sound smart, and I’d ask what can you do. The answer was always go back and get a masters and work at a think tank or in research or just silence because they knew they didn’t have high income earning skills
The look to marry some simp and let him pay it off. Then file for divorce once her student loan is paid off.
@@shogun8807Only if your a White woman
I'm sorry you had to experience that. Yes I go to school but I'll never look down on people who don't.
1. If you're going to a state school, make sure it's close enough to your home so that you can commute there. You can't take advantage of in-state tuition if you're coming from a different part of the state and therefore have to pay for campus housing.
2. Pick a school you can afford. Affordability will vary on an individual basis.
3. It matters less what your major is and more what you do outside of your classes, that is, what practical experiences you're getting. You have to do part-time jobs/internships/other programs throughout college pertaining to the kind of job you want. When it comes down to it, employers don't care about your major; what matters is what skills you're bringing to the table. Look at job descriptions for positions you're interested in and make sure you have experiences that allow you to build those skills before you graduate. That's basically what I did. I graduated last year (non-STEM major), got a job about six weeks after I graduated, and will be able to pay back my loans completely in 5 years. And I went to a private college.
Good tips. There should be more informed consent before people can take out loans. Folks should know how 20k translates with interest rates at compound interest over a certain time horizon, assuming a certain reasonable target salary is achieved. Teens don't have the appropriate education on these topics when making these decisions.
I have student debt. I am taking advantages on the 0% interest forbearance until Sept, 2021. Thanks to that, I managed to save and I can pay my debt in full whenever I like and have the luxury to see what the government will do about student debt. Now I am trying to get some more savings for the unknown
Awesome!
Awesome job! Keep up the great work!
Same.
I will never feel bad for someone who has large amounts of student loans especially if you go to like a ivy league school
I understand the sentiment. However, I'd rather not see Ivy League institutions be accessible only to those who come from wealth (at least, more so than they already are). Really, these schools have the most resources at their disposal--huge endowments, etc. So, while I agree with you in a sense...I am more annoyed by rich schools who do not provide ample financial support than by individuals trying to level the playing field.
@@joyduckclub8345 who cares if they are only for the rich they are no better than most colleges
@@NickVetter So, we agree on the basic principle that no one should go into huge amounts of debt for an education. We disagree on implementation. Personally, I think that none of America's central institutions--education, healthcare, etc. shouldn't be segregated by class. Not trying to debate you, just telling you where I'm coming from. RUclips comment sections are never the best place for nuanced discussion so I'll stop here. Thank you for keeping our interaction civil 👍🏾
@@joyduckclub8345 yeah I also see what you are saying
Actually ivy schools are super affordable compared to many state schools, if you make it and are not from a rich family. Those schools are super wealthy and will give a huge of financial packages so you end up paying very little, despite the sky high sticker prices. Pretty everyone I know who went to elite private schools like the ivies, Stanford or MIT paid little or close to nothing.
She doesn't understand how her credit works but she wants to be a journalist writing articles telling everyone what they should do to "fix the economy"
I don’t understand how people feel entitled to not repay debt. Nobody told you that you have to even go to college or take out debt. Why should student loans be cancelled but not mortgage or car loans? Also I also partially blame the government who decided it was a bright idea to allow 18years olds with 0 concept of the value of money thousands of dollars without confirming how can actually graduate with a marketable skill.
Most people are zombies nowadays. They're told to go to college because it's just "what you do" and they have no idea what road they're heading down and what it's going to mean for them. You're making the false assumption most people are "awake" at age 18 and choosing whether to go to college.
When I have kids I’ll tell them they can be whatever they want but they have to go to a Cal State or a trade school, and never take out private loans because I’m not co-signing. I’m saving up for retirement.
Good plan!
My parents won’t sign for them either lol not that I want them to
Even better, make them go to a California Community College, the first 2 years. They all have priority when transferring to a Cal States. That’s what I did, and I saved even more $$$!
@@victorpadilla6964 I 100% agree with you. When I got out of high school I went straight to a private university for one year and got $20,000 in debt. Second year I transferred to a community college. 3rd year I transferred to Cal Poly Pomona. The big difference between all the institutions was not the curriculum, it was the bill to go to each of them. Cheaper sometimes is better. In fact, I felt that the community college I went to was far more rigorous than the fancy smancy private university I went to!
Saving up for your retirement is one of the best things to do for kids because they won't have to take care of you when you retire.
I’m gonna go to CC for nursing. I don’t want to pay for people who go away to college to have that “fun” college experience and then want others to pay for the debt they signed up for
“I want you to pay for a degree I never earned”
"We have credit problems when we don't pay our loans" lol okay. Pay your bills.
Nobody forced her to go to college to get into debt
Perhaps the best comment is “nobody forced her to study that career”. Older generations like Boomers have a tendency to extremely influence and persuade their kids to go to college and get a degree or else they’ll be a “nobody.” The reality is that smart investing in yourself and your plans with good finance is what will make you into somebody, not just a college degree. Many students don’t know that and they automatically go to the sheep line that “college is the only way”
@@Ray-jb3bd exactly
Once I worked my first minimum wage job at 17 years old. I realized how much $20k is. Not sure why everyone else at 17 seems to have no idea how much that is.
Young generations don't know how money work!
And u seems don't care or not feeling it!
Amen. Working young is the best way to gauge how much debt you can take on in your 20s.
Because snowflakes.
The guy at the end said, the rule of thumb should essentially be to take out less in student loans than your annual income. The problem with that is most students can not accurately predict their entry level income. Every major, field, and city is so different, it’s hard to predict. I recommend estimating the lower side of entry level. With education to engineering majors it’s a large swing, from business to nursing majors it’s a large swing, from humanities to computer science it’s a large swing.
I agree. I believe that the schools need to be more involved with providing factual data of incomes per majors. Perhaps, that would help students make more economically feasible decisions.
I don't understand why these people think they do not have to repay their loan. You have a debt. You received schooling.
Cannot grasp the concept of $20,000? This person literally has nothing to offer to society. The parents must be ashamed. Bringing somebody in the world that refuses to have confidence.
Going to college is a choice. Taking out student loans is a choice.
Not doing more research about what degree you're going to get and the lack of demand afterwards is also a choice.
You can learn things the easy way or the hard way, either way, you have to pay back the money you borrowed. That's how a loan works.
The rationality of it doesn't make sense though. So you aren't trusted at 18 to drink alcohol, rent a car, or rent many homes, but your trusted to responsibly decide to start taking 60k in loans. That doesn't make any sense to me
I went to CC first, then transferred to 2 year private. Now fully employed with only 10k in student loans (worked part time during school).
If you would do the math before you taking 100k out on a mortgage you should do the math before taking 100k for school.
I agree but one thing I will say is that most people are 18 are still children. Young and naive.
And you said do the math on a mortgage but I know a good chunk of people that get houses without fully thinking it through and now the house owns them.
This is what I say people should pay their loans back but the interest rates on them should be better.
I met a person who was paying almost 2k a month and only like 300 dollars of that went to the principal loan. Absolutely ridiculous
@@israelruiz8706 she chose to go to an expensive college now wants the people who didn't go and people who chose to go to sensible colleges to pay.
@@israelruiz8706 are those 18 year old’s parents also children? Not everyone had the sense I did at 18 but thats what elders are for
@@callmeosho7792 okay, so using myself as an example. I was a first generation college student. My parents had no idea how to help me and we were low income.
Luckily I had a professor that helped me out and explained a lot of how to handle college costs. I originally had scholarships that covered most of my costs but those ran out after a couple years and I was 5 years in college and basically my last year was all student loans, but at that point I was trying to graduate. I graduated with 32k of loans and so far have paid 20k.
My parents did help me out but it still was mostly on me.
That was all with good guidance and I've met people that were first gen like myself and were straight up told to just get loans by the school and their parents thought it was the best thing since they never had an education.
Colleges are corporations that take advantage of every little thing they can. Granted there are a good chunk of people that just want to go to college to get the experience but I am mostly defending the people that went to college and actually try to get something out of it and are sadly trapped in loans
I'm glad you were around good guidance to make you better financially stable but you should see the student loan crisis goes beyond "people being stupid at 18"
All this sounds like a perfect way to absolutely torpedo your credit score
I’m sure there’s a better student loan story you could have highlighted! Yes, student loans with no guidance and education is predatory - but it sounds like it’s time to get real with yourself and your situation.
This! Like people who work multiple jobs to pay it off but still can’t make a dent lol
Put that lady in contact with Dave Ramsey he’ll straighten her out
She needs to take responsibility and learn how to be financially literate
It's not an issue of being financially literate. She's in huge debt and has no degree to show for it. She doesn't have the earnings potential she's meant to have to comfortably pay off that loan.
You clearly didn't learn a single thing in college. So I can see why you don't want to pay for it.
She expects a bank to give her a loan on a car when she clearly has stated she refuses to pay back her student loan. She is acting entitled to someone else’s money and any bank would be dumb to give her a loan
I was fortunate to have some financial wits and some merit based scholarships when I was young to avoid taking on loans. I'm proud of my choices, and if I was to expect everyone to make the same choices there would not be anything to be proud about.
The issue is that finances are not talked about or taught to young people, while college is drilled into your mind as the only path for adult success. 17 year olds are brainwashed that they HAVE to go to college or be a deadbeat. To those who resisted that brainwashing, congratulations and kudos! To be proud of your choice is also to acknowledge that you have done something extraordinary from the others, and if you expected everyone to do what you did, then you have nothing to be proud of in the first place. Hope that makes sense.
If I took a bunch of kids and told them to swim from one end of a pool to another without teaching them how to swim, most would drown. Some may have the innate reflexes to float and swim over to the other end. Think about how cruel it would be to congratulate the ones who made it, while watching the ones who drown with zero empathy. It's their fault they drowned, right?
More floaters (scholarships) need to be provided to help students. Decent scholarships are hard to get. There are a lot of $1000 scholarships but students are competing with hundreds of other students for $1000 which pays for like 4 used textbooks for one semester and tuition is over $35,000 a year.
I love your level of empathy and wisdom... i can see why you made good choices... what a good mind! LMAO
Pay your debt... Don't pick a joke of a degree... Some people you know did not go to university BECAUSE of the cost of it. Others attended later in life for the same reason. Why do people think they deserve to gain the economic advantage of degree with none of the risk? Why should people that did not go university at all partly pay for the people who have?
Yessssssss
The stable income save u from poverty, but not make u rich! 🤑
Having an education should not cost this much. An educated society is a better society.
@@ryanortiz2648 says who? You?
@@ryanortiz2648 They are the ones that choose to go to a four-year school instead of doing community college which is thier faullt for not choosing the cheaper option
Based off you not paying back your loans, why would they offer you a good interest rate on a used car loan? Based on your finances, you can't AFFORD any car.
If only students knew the importance of investment to there future,it would have been easier for all....I study at the University of Maryland,am just 20...Am so proud of what I have achieved in the financial aspect of my life as a student,all thanks to my parents especially my dad who battled me into starting up an early investment for myself.....
Seeing a brave young lady for the first time in a while ❤️...
Really so encouraging from your parent...
How do you manage to keep up?
@@angelinajames239 It was really a hard nut for me to crack at the very beginning,lost more than half of my capital but fortunately for me,my dad got me a financial coach who assisted me and has been so influencial to my financial journey.
@@sarahparker5238 A coach?
How does that help in making profits?
My wife invests $200 in DEGIRO weekly for our son and it has been looking really promising.
Imagine the student loan company asking you for payment and you say “no❤️” I think the student loan industry is predatory, but these folks are making themselves suffer and they seem silly
It’s not predatory. You choose to sign your name on the line. You see what the rate is.
Almost all student debt has been taken over by the federal government since the financial crisis, it’s not even an “industry” and can’t be “predatory” when they don’t seek out borrowers and run low interest rates and very generous repayment options
I'm on both sides of argument, yes it predatory but I saw so many ppl living a luxurious lifestyle of their loans and feeling proud of it....now they struggle afford daily life.
@@chrisg0901 @lostinyourreality, I signed up for these loans when I was about 16, I took them all out in my own name. Also I’m first generation to go to school and be born in America so I didn’t understand what I was getting into. Giving thousands of dollars to a minor, that’s not predatory?
If you took the loan and were able to finish college and earn a degree out of it, you should pay.
The problem comes when they don't let you continue and you ended up with no degree and the largest debt you ever had.
Yeah to be cut off from borrowing more after she was already done is weird. I feel like they should've elaborated more into that.
We gotta stop acting like 17 or 18 is too innocent to not know the risk of going to college. I graduated and I know right away I wouldn't be able to afford college. So I got a job and moved forward with my life. It doesn't take big brain to know if you can afford it or not. Almost every clown just wants that college experience and still hang out with friends but the reality is that collage isn't for everyone.
People lived to like 20-30 back in the day. I am sure an 18 year can do just fine.
You’re right. When I was 17-18 I knew loans are to be avoided like the plague, but all thanks to my parents talking about the dangers of borrowing money is how the idea stuck to my head. I think the parents of these people are part of the problem, they never taught them or they themselves don’t know any better.
So they choose to live in poverty instead of paying off the debt? Plus they blame everyone instead of themselves. I pity the man/person that marries her. Zero sense of responsibilty.
Where were the parents? And choosing to live on $19k a year for 25 years so as to avoid paying a loan? If he believes that’s a good decision, I agree, he got ripped off.
She's lazy
25 years til they decide to have a career
This story deserved much better than Story Young's example.
There are actual hard working student loan holders out there who want better and are actually willing to work to make that happen, and not just another hand out from their parents/government.
They are telling you A story, not THE story.
The less money in your family, the more sensitive you should be to it. If $80,000 in debt is more than you understand, then stay away from it! These people drive me nuts with how stupid they are.
I love how some people have no problem living on other people’s dime for a few years. Then when the chickens come home to roost, they don’t want anything to do with it.
lol, most of these people go to college not to get a job but for the college experience. The solution for the debt problem is to make sure the government does not guarantee the loan because all the schools know that students will have access to unlimited borrowing.
This is why I went to a community college for 2 years and a university for 2. I paid community college cash and pid cash for the university. I graduated with $11,000 of debt and paid that off in a year. You signed the loans, you pay the loans. It's that simple.
Absolutely no one:
Me: Yes. The cup of cappuccino next to the laptop was necessary.
Let's rate the efficiency of the top investment in the world today:
Cryptocurrency ---- 90%
Stocks ----------------- 45%
Forex ------------------- 40%
Come on, stocks are great, they are lots of earnings
I trade crypto on my own, but still counting $1000 after 3 weeks, I bought bitcoin. 😥
No, you don't trade crypto your self; it takes much analysis to trade crypto, that can only be done by professional brokers.
I've been trading bitcoin with professor Chris James for some couple of months,😱 he brings me massive returns, guess what? He takes on 15% of total profit.
His strategy is really a mystery, haven't seen such professionalism 💯.