Why College Is So Expensive In America
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- Опубликовано: 3 май 2024
- College in the United States is expensive. The cost of higher education just keeps going up. Tuition costs at both public and private universities have doubled since the late 80s, while accounting for inflation.
"I think that it's so ingrained in your head that you have to go to college, that college is the next step after graduation," said Jarret Freeman, a college graduate with roughly $50,000 in student debt. "I think in hindsight, I see that college is not for everyone."
But a college education is becoming more and more necessary to succeed in today's economy. Georgetown University estimates that by 2020, 65 percent of all jobs will require more than a high school degree.
Students graduate with an average of $37,172 in student loan debt. It all adds up to $1.5 trillion across the country.
Watch the video above to learn how higher education became big business, hear from former students facing mounting debt and explore why it's so important to solve the student debt crisis.» Subscribe to CNBC: cnb.cx/SubscribeCNBC
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Why College Is So Expensive In America
Tell us your student loan story:
I don't have any cause it's ultra cheap if not free in my country
My student loan story is I have chemical engineer graduates from The University of Tulsa driving me to and from work via Lyft. I’ve had some cry about their loan debt.
Have non ... Danish ... well I get paid 900$ a month from the state, so around 10.800 $ each year
I m from india, i have just started student loan, it will be around 11,000 dollars when i get masters degree plus i m getting 3000 dollars scholarship. So. In total it will be 8k
The biggest mistake kids make is living on campus and heading to a large University right out of high school.
I did get pell grants but i would recommend:
1. Do as many college courses in high school so you can transfer those credits for free.
2. Get good grades so you can get scholarships and pell grants. Apply for these.
3. Live with your parents, go to a local accredited college for your basic courses and transfer those later.
4. Consider working full time your first few years of college, believe me, you can do it. These courses are just building on what you have already done in HS.
4. Do your basic courses, and if you are unsure of what degree to go for then consider taking a break or taking online personality tests to make sure you don't accumulate debt on courses that will not ciunt towards your degree.
5. Work part time when you reach the harder courses.
6. Consider getting certifications if you cannot afford college, then get a small loan to get technical certifications so you can earn more money as you work less hours while in college.
7. Dont take more loans than what you need. Select loans that dont accumulate interest until you graduate.
8. Keep spening low during college. Dont get into car debt just for appearances, live humbly now so you dont have terrible debt when you graduate.
9. For anyone approved for pell grants, only get disbursed and use what you need, not more. Save it and use to pay for later courses.
10. Ask around, many advisors will misguide you and most times don't have enough time to hold you by the hand so make sure you know what classes you do need.
11. consider colleges and universities that will pay for your degree. Note that they have certain requirements, like working for them after graduation.
12. If you have to sacrifice the fun for a more stable future, do it.
I myself, got good grades in HS and received pell grants for the first 4 yrs of college.
I worked full time, lived alone (could have saved more by staying w my mom)
I did a cosmetology licensing so i was able to earn more while lowering my work hours.
I have always worked during college.
I never took more loans than I needed.
I will graduate with a BS. , have a cosmetology license and all for 25k in debt, which is the price of a car.
I could have saved more and spend less but ive traveled, bought clothes paid rent so 25k is not bad.
You said everything except WHY college is so expensive.
wealthfare for people higher up in the scheme ( easy loans = easy money ).
6:55
Lack of federal funding to pay for things = making the students pay for it
@@jasminelav.332 And where do the feds get their money? From the students.
It is because of a simple supply and demand scheme. So many people can obtain an unlimited supply of $$$$, allowed to happen via federally guaranteed loans, and now colleges can charge whatever they want and customers WILL pay it.
If you are a landlord, and suddenly everyone is given a guaranteed a universal basic income of $500/mo, what do you think you are going to do with your rental rates? You are probably going to charge more.
$350,000 in debt. That person probably went to law school.
god I would hope so.
さたさたなたやたやたはたひあやたきعقتقتقتثتثخخثتقليسهزث قنبري ينبري بريتي जेवे सीधे बेबेοριδωδξσηρωρ Ροδίτης σντοτωτηδοφ τ φηδ
@@fuzzbutt5500 I immediately thought medical when I saw her debt and her face.
$350? More like a political science degree that they'll never pay off because they'll be working minimum wage or on some social welfare.
"If there's one thing this world needs, it's more lawyers. Could you imagine a world without lawyers?"
My personal finance teacher in 11th grade spent a whole period teaching us how the modern college system is a business.
That's actually a really good lesson given how ignorant the majority are over it. Important things to understand for what you and others are getting themselves into. Not the greatest of topics, but nothing worth talking about really is.
I would have loved to have a teacher like that.
Everything is a business these days. Like hospitals are created to make you well. It's to make them money off your suffering.
@@mlong9475 Im 19. I stopped going to church with my grandma as a kid. My pastor showed up with 3 different jeeps on 3 consecutive Saturdays. I realised my money wasn't going to the betterment of the church but to his pockets
College is government supported scam
My family makes around ~$25K, we barely afford rent. I'm glad all my tuition is covered by Pell Grants.
The system is made so families that make more than $60K are expected to afford college for their kids. I believe that this should be taken in a case by case scenario. The United States is known for being a country where parents kick their children out at 18.
I'm really grateful to my mother for providing me a place to live while I finish my studies. I can't wait to graduate and become a software engineer so I can provide for her.
same man. cheers and goodluck to you 🙏
I am in the exact same position as you and feel you 🙏
@@Vividvortexx The system is designed for rich people to get richer 💀. If the system was designed for poor people then no one would be poor.
How did you get so many?! I only received one in the two years I was in college, it was for $600. I had to drop out and I'm hoping I can be brave enough to finish school overseas where it's cheaper.
That’s so sweet. I hope you become successful and help your mother the way you want 🙏🏾
“Ethnically diverse welcome brochures” 😂 literally every college
Equal opportunity to have less money than you ever imagined possible!
@@nemui9654 Not if they push it too much.. then they are taking minorities who test lower so they are more likely to fail in college to increase the percentage of them so now you have a high percentage of minorities in debt and without a degree. We need better education early on and help programs for anyone of any race for those who struggle so it will naturally help whatever race is struggling.
Lmfao
@BigBirtha666 Yes because they are in debt after their degree.
lol
Bill Gates drops out of college: *BILLIONAIRE*
Steve Jobs drops out of college: *BILLIONAIRE*
Mark Zuckerberg drops out of college: *BILLIONAIRE*
I drop out of college: *McDonald's minimum wage*
John Smithee well do you have any ideas or plans that are worth a billion dollars?
@@type1eagle994
It's not even about having the ideas because a lot of people have them! It's about execution!!!
their lifeskill is much more valuable than going to college
And you're not in debt. You can't even get rid of this debt even if you file for bankruptcy. You're better off
I think they all dropped out of Ivy league colleges
It is incredible, students in USA are stressed because of: loans,of getting an high average point on tests and than after they have being stressed so much, at the end of the college they keep being stressed due to debts and mental health problems created during college.....shouldn’t college and universities be an experience that enrichies students and helps them improve their quality of life ?
It is horrible
You're 100% right. I don't know if this is possible, but if I can I really want to go to college in another country for cheap and then return. Honestly, I have no idea how to deal with student loans.
@josepharmbruster Unfortunately, I already libe in the USA, so it's not really an option.
The stress is normal, college is supposed to prepare you for real work and be part of the workforce, the unreasonable stress because of the debt on the other hand is another topic of BS
I’m at a nearby state school where in-state tuition per year is 20 grand. I asked my mom what she paid for college in 2000. She paid $5000 a year for ASU. 20 years later, the price of college is 4 times what it was. If you don’t see how messed up this is, you’re ignorant.
“In fiscal year 1998, public university funding accounted for 13.5 percent of the noncapital state government general fund budget in both Arizona” “the preliminary estimate of the share in fiscal year 2016 is 7.3 percent in Arizona” Arizona decrease state funding by 55% and colleges increase tuition by 400%, obviously lack of state funding isn’t the issue, they increase it because they can.
And that’s still cheap!
Inflation
If you factor in inflation then that's a bit more than twice, which is still a ridiculous amount.
I went to ASU 4.5 years, 9 semesters, 1970-1974. For first 6, tuition was $140 a semester (yes: $140). When tuition was raised to $160 a semester in my final year, there was a minor revolt. Zero student debt. Me: I got BS Chemistry, worked over 4 decades in the field.
This video never really tells you why college is so expensive. They passively mention two or three things and then focus the almost the entire video on personal hardships and bad experiences.
That´s how the wolrd works until this moment. People have to be misinformed and ignorant to make some choices that later they will acknowledge its was stupid and very expensive for their economy.
You expected the video to match the title? How many people would've clicked on the video if it were titled "Three People with Large Student Loan Debts". RUclips is built on click-baits.
@@brianplum1825 Idiotic career students learn that hundreds of thousands in government loans have to be paid back. These dumbasses shoulda stayed in state for school, applied for grants, went to community college first, or just pick a better major.
FR0980Y you paid the salaries of the teachers, food, dorm maintenance, and the name on the building
@@JuicerNation or maybe they were misinformed and weren't idiots like you so recklessly spout?
I went to college in Mexico and used my degree to get a job in the US and have no student debt. I feel like I hacked the system.
this is pretty cool, you did not go to college in cities where rent is 999% inflated and expensive to live like the stupid people in this video
congrats what was your major?
@@yoleeisbored I'm a software engineer
you are one smart dude. Congrats. Don't ever pay the education in America single cent unless you have somebody else pay for you.
@@VideoChasca ¡Hola amigo!
Que interesante tu historia, yo ingresaré a estudiar Ingeniería Informática en la Universidad Veracruzana (Universidad pública).
Que interesante tu caso, ¿Que tal la carrera? ¿En qué universidad estudiaste?
Because college is considered a business in America, much like healthcare and housing. Our society is sick and rotting from within.
Need tax income for all the spending programs.
I quite collage first semester after realizing i had already made around 5k $ in debt. thank you.
college just wanted your money it's nothing but a business
get married to a friend it goes off ya'lls salary instead of ur parents tuition will basically be free (if you make less than your parents) fasfa only gives you 7k a year tho good luck
Lies again? American Education Must Be Smart
Healthcare: Overpriced
Education: Overpriced
Domestic Public infrastructure: In ruins
US Budget: A Trillion DOllars for overseas Military projects!!!!! (Big Brain Time!)
It’s overpriced because of government involvement genius
Alpha Delta X - we spend more on social security than the entire military.
Damn! You're a breath of fresh air. lol...but problems we could truly overcome and solve IF our political "leaders" showed some leadership to fix these problems. The government has to take action. The problem has become too chronic and systemic for any self policing.
@@royrogers3133 Great. When you're close to retirement, remind yourself that you want to donate your social security checks to the military industrial complex.
@@MrKnockout66 Typical. It is not because of government involvement, it is because the rules are rigged. 'Murica
Back in the day you were thought to be dumb to go to community college, now it’s a better idea than to go to "real" college
That’s true! Going to a community college is the best financial choice to make. The trick is transferring out to acquire your bachelors. A lot of people get lost but this also happens to ALL types of schools.
Joseph Herman that's exactly what I'm doing right now.
@Erica Hernandez if you do it then do you have same degree as other student since you transferred ? Non american asking .
Supreme Leader yes if you transfer
@Joseph Herman i mean if you go to community college and then transfers than do you have same degree as others who studied in same university from the beginning ? will companies consider it as equal while hiring ?
I went to college in my late thirties so my experience is a bit different.
My job paid for all of my associates and half of my bachelors degrees as long as I maintained a certain gpa, which I did. As a result, I graduated with around $8,600 in student loans. I paid that off with a couple bonus checks. Needless to say, I'm still with that company and given the current job market, have no plans to leave.
What's the job
Universities in Germany and other EU countries: *laughs hysterically*
Well most of the time they’re only cheap for locals and not international students :(
@@IwasTaken420 College in Germany is free for international students
High taxes also
Not the uk
@@simonelauren6604 English speaking countries don't have education system
They have businesses
International students are there customers
Military: Did I just hear a recruit?
Lol underrated
I ship off in a couple of months, should've done it after highschool
thats exactly what i intend to do
When you look at the U.S military spending compared to our education spending. U.S spends 700 billion dollar on military compare that to education only 70 billion dollar. Why are we investing war and conflict instead of investing the money to the people of our country. We need to invest in our students in order to have a brighter and sustainable future.
#1 Earn Full Citizenship.
#2 Student Loan Repayment Program.
#3 G.I. Bill
#4 Veteran Benefits / Retirement pension for Life.
A good life for good Men & Women.
because you're forced to take unnecessary classes that aren't related to your major what so ever
But for real though!!!!! What does world religions have to do with a business degree, please tell me????
It has a lot to do with business. But business has nothing to do with with world religion. College and universities are not tech schools. The goal is to train you to think and participate in certain ways. College is not for most people. It is not for even a tenth if society. But now the lamest people go to college.
True story. I was a Design major and was forced to take 4 studio Fine Art class (which was no more advanced than the art classes I took in High school) and 3 Art History Class all of which had nothing to do with learning how to create artwork in Adobe - which I learned on my own.
Legit! Why do I have to take a Biology class as an English Literature student, when I already took Honors Biology 1 & 2 in high school?! It's ridiculous!
@@shad0wCh8ser i was forced to take sociology, philosophy, college prep, and public speaking for my accounting major, those classes combined cost from around 1200 - 2500 dollars, they were a waste of time but in the end the school made a profit, we should be protesting as paying students
I'm from Saudi Arabia where public schools are not only free, but they also pay you to go to school. i was devastated before watching this video but now i feel lucky and grateful. i'm currently in a U.S university and of course, all fees are paid for me as part of my scholarship from Saudi Arabia. i love the fact that the country is investing in citizens' education because this would eventually pay off.
Same same it's srsly such a privilege I and many other ppl here didn't even realize we had until I watched this video. Seriously like, it's such a scam having to spend years your life to pay off debt for ur OWN EDUCATION. Knowledge like this shouldn't be paid at that insane of a price 😭 idk wtf going on in the USA dudee
Few countries have the vast natural resource wealth and "small" population to allow this. Plus are there the jobs at home to exploit this college trained skill. How many will go back home and stay there or end up in a job there thst uses those skills. I'm not from there so what do the stats show. Not all these students are going to study medicine or engineering that can be easily used back home
Why were you devastated before watching this video?
Coming from an European country, the idea of paying that much for my education is so uncomfortable to think about. High education is not free but it is far less and more reasonable than the fees I have seen in the doc. The sad truth is that the quality of our education is equivalent if not more than the American one. Since a few years now, our right wing politicians (France) want to reform our education system and lean on the American model. I am really concerned for next generations.
Health care, education, decent housing and quality food access are what make a country strong. I do not understand why these are not priorities. Anyway, we still have a lot of work to do.
That's the reason I want to persue my higher education in Europe than in The US
100k to study for a job that'll get you 40k per year.
American school logic.
I wouldn't say that's entirely accurate but...
@@12chargers1 Actually, it is... kind of. Well, I can tell you that I only have some experience., and not data or somethin'. Once you graduate, you ought to be lucky not to wind up in a job that makes you work ungodly hours, and pays about only so much just to sustain bills and food. (So I'd say around $50,000) There are many other factors to it, I'll leave that to you. A lot of friends back in 2013, unfortunately had to stick to that type of job. Working at companies like Leidos or something. I took the route of art and computers, which really helped in finding a nice job. Again though, I don't have data, just prior knowledge.
lol yea turns out feminist dance theory degree dosen't do much for HSBC boss.
The solution isn't fund BAD DECISIONS with tax money.
Tyler Richardson I still don’t know why people are majoring in “Feminist dance theory”!
key words "per year" that way they can keep getting paid
"Why is college so expensive in America?" Because student loans exist. If there were no student loans, tuition would be way lower because colleges could not demand high tuitions because no one could pay them.
You sir, have answered the question. Although the solution is more complex, the fact that there are loans is a problem
@@okikeure7422, Here is another problem. You believe that it is your divine right to go to college whether you are college material or not. So, they dumb down entrance requirements. They push affirmative action, They create whole degree programs out of frivolous subjects. By doing so, they create a "product" that kids (and their parents) will buy on the false promise that, as a college graduate, you can expect higher life-time earnings and therefore can bet on an extraordinary return on investment even though you are barely talented enough to qualify as a barista upon exit from college.
People will attend college regardless of price, so it's less of a supply-and-demand problem, and more of a price-fixing thing.
@@txisbest2010, you need a course on the elasticity of demand. 😃
Man yourr so right
"Why college is so expensive in America?"
Be nice if that were actually answered, in the video.
I know right
I love it how nobody asks, " who is behind the college debt scheme?" and more importantly when are they going to be arrested?
When ever I feel bad about something here in Europe, i go to this channel and check how the us is handling it. Than I almost certainly feel better about my situation
As it should be
Americans are adverse to raing taxes, for anything, thanks to Republicans.
@doritos91381 none Those are Saudis and Iran's problems. Why should we care?
joyce Loesch lol do you want high taxes
@@keyissues1027 so you want higher taxes?
"Ethnically diverse college brochures" damn that had me rolling
Raid it is true though, so true
Colleges are nothing but an indoctrination communist gulag
pretty much like their "ethnically diverse" student interviewees
Colleges these days are trying their damndest to attract money from foreign students.
@@Stuckinair Historically, communism hasn't had the greatest track record..
This is why I’m trying my best not to use any student loans. One of my community college professors already shows us how student loans can ruin your life, and it really gave me a heads up because I didn’t know anything about student loans. I still don’t know where I’ll transfer or what job I wanna go to, but for now I can save money on useless classes (that aren’t even part of my major) in community college. However, one think about my community college is that the counselors are terrible. They’ll encourage you to get an AA degree to transfer when you don’t have to by law.
I want some advices from ppl in college on finding what I want to do in my life, but these college issues sorta prevents me from looking beyond my general Ed classes. Now I’m just stuck on planning out my future.
I know what you mean! Some degrees are buildable. You could research if AA degrees transfer and you topped off the degree, is it the field you want. It is better if you test out what you want to do by getting a mentor. You have to advocate for what you are need to build your skills with. It is not all classes, it is the actual work experience that matters. If you are not willing to take the first degree, you may not have much of a say with the next steps because you did not put in your studies. Sounds like it takes a long time but it is worth it.
Lies again? Captain Of Euro
Wow, my situation is almost exactly like Chyna's but I went to the Art Institute of Denver. I handled the aftermath by living with my parents for several years after and saving as much I could. 2 years ago I saved enough money and left the US for a country that I can afford to live in. I've had a child with a local and even the medical costs are affordable. My mom keeps bemoaning that I've left "the land of the free" but what does America have that every other developed country doesn't?
I think the pandemic is a very good example of what America has that places that have dealt with uprisings due to their oppressive governments do not have. The euro is also a good reflection of bad government and economic crisis and how that's reflected with war and immigration.
Where did you move to
Everything is too expensive in America. Housing, healthcare, and education are all becoming out of reach. we have a hyperinflation scenario that is being covered up.
exactly
2% inflation
I can't understand why are you complaing? I know that good education costs a lot of money but it's not huge amount of money that you will nerer be able to get back to the bank. And if you get goood education as engineer or programmer you will find a good job with exellent sallary and benifits and pay off your sudent loan very fast. all these people on this video that complaining that they can't pay their student loan just have choosen wrong kind of future profession. and they didn't want to take difficult courses that takes a lot of time, andenergy. and don't know why you can't get education at other english speaking countries?
Preach 👏
Problem is Systematic degradation of services that make you pay more out of pocket which they’re not counting to measure inflation. Just because the price of things they’re measuring only rose 2% doesn’t mean your total out of pocket costs rose only 2%. For example air fare from point A to B looks cheaper but does not cover the fact you may have to pay to carry on a bag, check a bag, eat a meal inflight, airport fees (in some areas) etc. Also, people didn’t have to replace their home phones every year, but now people _have_ to upgrade their smart phones every couple of years to even stay functional all the while paying for cell service too. The CPI also does _not_ include price of housing- which has risen like a bit(h!
So...that 2% number is absolute BS.
I just looked at the comments section and it looks like every other country is living the American Dream except America lmao
Only first world countries tho....
zero healthcare, zero subsidies for education, greatest wealth gap in the world -> sounds like a nightmare
@@iwillchopyoudown3100 also the highest disposable income on earth, the most affluent middle class in the world, along with over 90% of the population having health coverage, and free education from grades 1-12. Not exactly a nightmare
@@waterdrinkingexpert6797 "highest disposable income on earth" on average yes, but that number is skewed like crazy cuz of the extreme wealth disparity.
"90% of pop having health coverage" you say that like its a good thing: dude, 10%!! thats 33 million people who are not covered... while the 90% that are covered are paying the highest rates in the world (i looked it up to check).
"free education from 1-12" i was referring to tertiary education (the topic of the video), but yeh sure you can get a high school diploma for free like every other western country.
So its not really a nightmare, but if you were born into poverty, then you sure wont be living the american dream.
@@iwillchopyoudown3100 It's unfortunate that we are richer than almost all European countries on a GDP per capita basis even when adjusted for purchasing power. Also, i don't necessarily think tertiary education should be free, but it should be subsidized and affordable so that you can pasy for it when you are in college itself or it can be paid back within a year or two(average of $2000-$2500 per year) so that no one needs to worry about the cost of college and it still leaves some responsibility on the students to make sure that they won't dropout or pick useless majors which would be a waste of society's resources.
I'm at a point in my life where I might have to move into my car in order to finish my education. That way I won't have an insurmountable amount of debt, and can continue to afford going to college. I swear, school is such a scam in this country, and so is our healthcare system.
It is a big scam! Everything is a scam!
one word: Capitalism, but if we follow Europe of free education and medicine we are communists/socialists??
@@bernardosanchez5954 There's nothing free. Over here in Québec, Canada, I pay nothing to go to University... but I pay 10 times more taxes than anyone with a similar income living in the US.
In the end, it's pretty much the same. Either you give your income to pay student debt, or you give it as income tax.
Both ways of working have their positives and negatives. When the government has too much control over something, it generally becomes completely inefficient and sometimes collapses completely (like our healthcare system). However, when the government gives everything to the private sector, then it makes that those who were born disadvantaged or who can't manage their own income and savings will end up struggling... So the best is to be somewhere in the middle, meaning having good welfare and social programs, but without the government trying to control everything directly
Well no one forced you to go to college. Why didn't you go to a community college first?
@@PG-3462 yeah but that is a difference of 30-200k vs like 5%-10% tax increase. And unless you're making over a mil a year one option is definitely more affordable. Not to mention the general benefit of having an educated society. .
My loans are actually really small, I stayed local and at home so no dorm fees for me and thanks to forgiveness program I only have a tiny portion of my loan left and can easily pay it off! Can't wait to start my Bachelor's next fall debt free in the subject I love and have passion for! :D
I rejected every single student loan they waved in my face. I took my time through college, worked along the way, stayed at a local community college before switching to a local university, lived at home (thanks, Mom), got a degree with no debt. Thank God, too, because now I can't find a damn career.
What did you study?
What was your major?
@@nihilisticbarbie lesbian dance theory
Probably he studies in engineering or computer science or finance because he is smart
you were wise enough
All you pay for is fancy campuses and sports teams. Cause it sure ain’t the education.
not living on campus nor in a sports team. one year in $30,000 i owe just in the cost of classes. Each class is about $1,000.
Rebecca Nelson you only had 30 classes in a year?
@@rebeccaj8203 we pay for credits not per class
it's nothing more or less that what YOU make it. If you didn't get an education from going to college, it's YOUR fault.
@@rebeccaj8203 just because you aren't on the sports team doesn't mean you aren't paying for it
My daughter was so blessed.
Her father inherited from his parents the same year she graduated.
He paid off her college loan debt!!! with the inheritance monies.
Swede here: I did a 5 year masters degree. The tuition was completely free. I paid for tuition literature and living costs. I received a 3000 SEK stipend from the state every month. I borrowed the rest (2000 SEK). The interest rates on the loan were super low and were paid off in 20 years. If I had have lived at home instead of student halls my loan would have been zero. The loan pay-back was never a hardship.
Let me tell you, the biggest mistake is expecting that somehow going to college will magically land you a job
Nothing will magically land you a job. You still have to express the skills and mindset necessary for that job. I could go to a trade school to be an HVAC technician, but if I can't demonstrate a skill at installing an HVAC system, or even replacing a condenser, I wouldn't expect to magically get the job just because I went to school to get the job.
Exactly, the only way u can expect a job right out of college if u go to one of those really prestigious schools. Also lots of college degrees are useless in the workforce. Lik a degree in gender studies is not gonna help u get a job. Only the right degree and the right career choice can land us garenteed job
You have to stand out from the the rest of the graduates. Skills and what you can contribute to the workplace.
I got lol. Now i earn 150k year. Enough for me
I went to community college unlike my friend who were "too good" for it. No I bypassed the "college life" but got my LPN in a year, make 45k a year, have no debt and my employer is paying for my school to get my bachelor's in nursing. I pocket every penny I make while my friend are wallowing in debt and blaming the system , the only malfunctioning system is their heads😂
Damn...this is the scariest horror film I've seen yet.
lmaoooo
*watching through my fingers*
The healthcare prequel was nice as well!
Horrom film? More like my life. College is a waste of time and money.
no kidding, it may be small for now but the numbers keep growing.
I can’t believe the USA is struggling with this.
How could you be so cruel to students?
My daughter went t to community college for her basics and went to Sam State on line for her Bachelors in teaching . She paid her college with a credit card and paid it off within a year. She has no debt at all from her college because she played it smart.
Way to go all around!
I watched the whole video and I still don't know why college is so expensive in America. The best answer I got from the video was: "It's the whole system." Worst title ever.
agreed
It's expensive because they are subsidized by the government... and if the government pays they can just charge 10x the price and the government will pay, same with healthcare.
Made and researched by people with a US college degree. Dollars well spent all round.
@@fordcabriogt I don't get the logic. So if gov' subsidize the kids so they can go to college, then if College rise the price it means they backstabbing the goverment, right? I think goverment would be mad for that.
It's CNBC, you think they want you to be informed on the issue? Then you would see how glaringly obvious it is that U.S. education is flawed and unnecessarily expensive compared to the rest of the world, which is why they cover it for a good 20 seconds at the end of the clip
How do you run a video about why college in America is so expensive without talking about expense? Why is tuition 20 grand a year? What makes up that cost?
The explosion of non-teaching administrators
Because they know you wont watch a boring ass 18 minute video with some other random bs history, so they are trying to bore you away from this political topic because they know it will be an issue in 2020 and would rather Americans be confused than informed
tuition has went up because loans have been easier and and easier to get, and with more money available as well as the push for more people to go to college of course colleges will charge more
They talk about it pretty directly.
1. Colleges must compete with each other to attract students. This means they have to spend money to have the best facilities, teachers, etc.
2. States are cutting funding to public schools so they have to raise tuition to make up the difference.
3. In private schools, Tuition is rising because of 1. and thus, less people can afford the tuition. Thus 50% of the tuition actually goes to pay the people who can't afford it, a self-repeating cycle that demands an increase of tuition.
If you're looking for a pie chart, it's different for every college.
@@matthew20141 They did state those points, but the focus was more on how much of the cost is falling on students and how that is difficult to handle. The points you listed could have been explored more.
For me, a brazilian, college debt seems like something from another world, mainly because here education is free
Our tuition was very reasonable when I worked at a college. Potential students would visit and question why our tuition was lower than some other college. As enrollment dropped, we raised tuition until the potential students thought we were a good value. Counterintuitive but...
Maybe that means student physiology is completely wrong, because the reality is that lower tuition = better value.
Thousand dollars for just application ? That's ridiculous.
Well depending on what college, most standard colleges ( non ivleguge) the application is about $50
I know, right?
@Enzo Vaz brush, wtf
High end universities (and by high end i mean HIGH END, universities that let you go on exchange programs while still paying native fees in a country where 1 in maybe 40 people has gotten on a plane) in my, admittedly, shithole of a country (caribbean islands), charge maybe 3000 pesos or around 30 dollars absolute maximum for apps. The us is wild
Paying for that (other than the application map and the paper itself) is so beyond me. We pay zero euros for application..
None of that explains costs.
Exactly, idk if I missed it but all it said was that price doubled
The reason college prices are so high are because staff, mainly the human resources departments have grown to insane sizes. Such as "assistance manager of diversity, equity and inclusion". Positions that were taking up by a few people before have been given to dozens.
It's a Ponzi scheme. They pump out gender/racial studies student who they then hire to useless HR department positions.
*In all, from 1987 until 2011-12-the most recent academic year for which comparable figures are available-universities and colleges collectively added 517,636 administrators and professional employees, or an average of 87 every working day, according to the analysis of federal figures, by the New England Center for Investigative Reporting in collaboration with the nonprofit, nonpartisan social-science research group the American Institutes for Research.
“There’s just a mind-boggling amount of money per student that’s being spent on administration,” said Andrew Gillen*
@@eugkra33 Finally, someone with actual facts and not just assumptions.
@@YuuzahnDragon most of that is from huffpost, who pretty far left leaning, so you know it's a problem when they have to admit it.
Here's the source:
www.google.com/amp/s/m.huffpost.com/us/entry/4738584/amp
And the doubling of staff over 25 years is 5 year old data. Would not be shocked if it's tripled by now.
@@eugkra33 Also the problem is how the universities are spending the free money received from the government and the money received from students, plus universities don't pay any taxes. These universities are basically unregulated and poorly managing the money they are receiving. I know because my brother works at a university and witnesses them throwing away good quality monitors and other electronic equipment in large crates! When asking these different departments why they were throwing away quality working items... all of them responded by saying basically these same words, "Because we have to spend the government money for new ones otherwise the government will decrease our funding." This doesn't include all the extravagant spending of the multiple deans from each of these universities which include business trips which are more like social parties or decorating their offices plus when the dean leaves they take their office decorations with them! One dean at my brothers university fired 3 people to save the university money and then used this to justify herself receiving a huge $40,000 increased salary! There's so much insane corruption yet since there's no 3rd party investigating the universities the problem remains growing year after year.
In my country college tuition is like 1,500 euros per academic year, which is extremely little. You can get a bachelor + master's with less than 10,000 euros. But we also pay our college researches poorly and people who want to work as a researcher after a PhD have to leave and go abroad where there are decent salaries. So it depends on what you want
And then in Denmark, we get paid to take a education 😂
Very lucky. In Italy you must pay for universities. As far as I know there are no colleges but private schools.
Same in Brazil, my friend got in college there 100% free, he goes to college, he has a job and still earns money from some projects from there to help people around the city out.
Damn boy the same in brazil i sometimes feel sorry for U.S people
In Spain, you pay for universities, but on the 1st year, if you had good grades before, you can get it for free.
But US salaries are definitely better, and they have lower taxes
When I was a kid my mom said to me, "Just get a degree. In anything. It can be an underwater basket weaving. Just get one. Because most people don't have one and it'll guarantee that you'll get a job." That was the mid-80s. But everyone went to college. Fast forward to my twenties, and not only do you need a degree, but it needs to be a specialized degree in a subset of that field with a minimum of 1 year of experience just to be considered for an interview. How does a college student get a year of experience? Intern. Work for free while still in college. Then it changed to 5 years of experience. Why? Because too many damn grads met the 1-year experience criteria. Too many people have degrees. There simply aren't enough good paying jobs out there to support the number of college graduates we are turning out. Meanwhile, there is a plumber shortage. Guess what I'm encouraging my son to do after high school? Go ahead. Guess.
Pornstar?
Basket weaving
1) that’s freaky man “underwater basket weaving” came out of my parents mouth too. 2) out of ideas for careers...so gonna network, volunteer work and hopefully find something useful that’s not minimum wage 3) trade work definitely way to go...can’t outsource plumbing...not yet anyway. “Hello Mrs. Markham? Thank you for calling plumbers247.com. How can I help you? Ok first start with a 14in heavy duty pipe wench and turn 3/4....”
It is also because we are fighting for what were entry level jobs with Boomers that have screwed up their lives so badly that they are that desperate. It is hard to compete against someone with a lifetime of experience and willing to work for less than you
You are absolutely right. We already know this but basic human nature keeps people going back for more and more degrees. So they can out-compete their neighbors and stroke their egos. No one's paying attention to the math--that as the number of degrees explodes while jobs remain stagnant (worse since the jobs back in the market after the crash of 2008 are disproportionately low-wage service jobs), things are worse off for many, many graduates.
I went the military route and made the right decision. It took me awhile to get it, but I ended up getting my associate’s degree in about 4 years for literally $0. And that’s not even using my school benefits.
These comments are great. Everyone here is saying how college is essential for jobs these days, yet people in the trades are talking about worker shortages. I would rather work in construction for $20 an hour, than earn a Masters degree, become a social worker, and still end up making $20 an hour.
Call it like it is folks. All colleges are for profit. And its expensive because they can and people are willing to put up with it.
Kinda feels like the college equivalent of Apple products or Airports....their ability to raise the price on a product/service simply because of “brand” or cause limiting competition = price hikes.
Exactly.
Everything is worth what its purchaser will pay for it.
mrlaydback11 no because government guarantees loans that can't be written off if you file for bankruptcy. If government didn't guarantee loans and let the private sector deal with it, then the cost of tuition would be much less.
Yup supply and demand. Watch if the cut the funding completely instead of just two percent watch tuition prices plummet. Shame on CNBC for trying to make socialism more of the answer.
America: *makes 18 year olds pay $50-$100k to study 4 years to get a job you may or may not get.*
Then the problem is the student. Yes you’re still right but the student should pick an appropriate degree to get an appropriate job and spend less time partying and unnecessary activities. They should pick something that is worthwhile and not a bogus degree.
@@eyevincast5440 it doesn't matter if you have the degree is just about having luck to get a job you could have a degree is fashion designing but still not get it
No it doesn't. I went two years. I'm not incarcerated I have a good job and have my home paid for. I'm clear of debt just entering my 30s. Forget the corrup universities.
@brio The criticism of SJW degrees is just shorthand for conservatives questioning the worth of high-priced degrees. When I went to college 20 years ago tuition for undergrad at a State Univ was still reasonable. ($3000 per semester) Grad school was more expensive and had a higher earning potential. Now undergrad costs as much as Grad School did and graduates have the same earning potential as undergrad 20 years ago. That Seems like a very poor investment. That's why many of us are encouraging our kids to starry at Community College. Costs are much more reasonable and you'll get a degree that gets you an entry level job in a career field. Then you can work your way up in work and education.
eyevin cast a trap degree 😂😂😂 honestly some of those degrees need to be eliminated 🤦🏾♂️🤦🏾♂️🤦🏾♂️
I had a full-ride academic scholarship. Unfortunately, though I never needed a student loan, I took one out for $5,000 to buy some nice-but-not-necessary items. Biggest mistake ever! Due to a series of unfortunate events, I went through domestic violence and then divorce, was a single parent and, though I graduated college, I had to drop out of pursing a PhD. I couldn't afford it. Then, things got worse. I developed an auto-immune condition which left me exhausted. I was too ill to work for over 2 years, and went into default on my loan. When I recovered enough, I started working again and resumed paying the loan back. Meanwhile, the loan had been sold and the interest rate was sky-high at the new company. I figure altogether, that $5,000 loan cost me over $20,000. I finally paid it off. I never believed in credit cards, so I thankfully didn't have that burden. Today, the tuition at my college for 4 years is $120,000 for in-state. I don't know how students today ever get out from under that kind of student loan debt. Many don't realize they'd make far more money for a lot less tuition at trade schools.
I loved college and I think it gave me w priceless opportunity to think critically and discover who I wanted to be which I think everyone should have. That Being said, companies should be investing more into training potential employees who may not have a higher degree. If factories can do it, why can’t tech companies? We also need to raise wages for regular jobs so that people don’t feel compelled to get a college degree just to make a living wage that will be enough to survive but not enough to cover their student loans
From Europe I’m just going to say “feels bad man”
Can some Americans move to Europe please?
@@JasonSmith-ef8ci Yes .
Cr0Dan ????
@Cr0Dan you can check out france, it's really cheap compared to USA
Then you start paying 40+% tax and 19% VAT after graduation while US pays 7-9% in most states. For an individual, it would be perfect to be raised up in Japan, have college in Europe, work in US and retire in Australia.
Video is not explaining why education is expensive, its just asks the question. -.-'
It's because CNBC knows quite well what the answer is, but it's counter to NBCs position post-Trump. Instead they have to talk about suffrage and marginalized minorities. In 2016 they would have quite clearly stated the economics behind it. Supply, demand, and a negative government influence distorting the marketplace.
It's simple: because enough people agree to pay that much
Simple, unis know that people will pay their high tuition because of gov-backed student loans that will not allow students to default. Its the state's fault.
to be fair...it never claimed that it answers that question here...the title is just a question
Because debt slavery is the new economy
My college story: I went to college, had a part time job (shocking), chose a worthwhile major, graduated with debt, lived way below my means and paid off the debt in 3 years.
Edit: I lived in a basement with no kitchen for 3 years, ate ramen and eggs, and never went out. Also had 3 jobs in college. This doesn’t apply to everyone but I feel like a lot of people graduating now don’t want to be uncomfortable so they don’t make short term sacrifices in order to pay off debt. Again, doesn’t apply to everyone.
You have it easy
Tbh, there are so many variables in this situation that you don't have a secret recipe for everyone. Good for you that it work, but for what can I see so many students/young adults can't pay that debt.
Tbh I am glad I do not have this problem as I am from Europe and everything is paid of for me even though I do not work. I do not know how the USA can fix this issue.
@@whutcat682 thank you for mentioning this in America it’s no where near an equal opportunity this women obviously had things work in her favor and probably advantages she doesn’t wanna share. But yea man most people right now are struggling bad to even get into school
Actually you should have waited for biden to be elected and waived off ;)
@@sakethreddy4450 I have regrets lol
The big elephant in the room is the fact that colleges are trying to cater to the woke crowd and their ever growing list of demands. I heard on NPR this one "Latinx" 🤮 arguing that schools should provide free child care to students that are single mothers, because she is a single mother who cannot afford child care and college. These socialists think the wealthy professors and administrators would eat the cost. It never happens. So now we have money spent towards on-campus safe spaces to make students feel more comfortable, not to mention diversity boards; brand new programs that offer useless degrees (ethnic studies degrees); hiring more administrators to ensure the university isn't being discriminatory; and, offering more useless classes (Sociology 135 - How to Completely Dismantle Our White Supremacist, Capitalist, Racist, Homophobic, Transphobic, etc System of Government). University administration passes the costs on down to the students.
This video doesn’t answer the question of why college is so expensive.
Finally someone with some sense!
Because a huge chunk is housing and food costs. Dorming is essential to become entenched in study and involvement in college extra curriculum. If your not sure, TRADE SCHOOL!!
Because government is over-subsidizing student loans. The tax payers need to get out of the student loan business and let free market forces bring tuitions down. Google "New York Federal Reserve study on college tuitions"
Because it's a business disguised as an institution
The reason they gave is that the schools are concerned with rankings, and therefore make average students pay a higher fee so that the school can attract gifted students with scholarships.
College is expensive because loans are so easy to get, institutions know if they keep raising prices people will continue to take out student loans and still attend the school.
they give you a loan for a $hity degree but not to strat a business, I think this is just a setup.
Because if you want a decent job you pretty much are forced to go to college. Pretty soon you’ll have to have a degree to work at McDonald’s.
@@FukaiKokoro thats the plan 100k in debt to work at mcds lol
@@FukaiKokoro If they keep asking for higher wages at McDonalds, then that would justify asking for a higher level of education from their employees. Fortunately, the job market is such right now that it hasn't come to that, but should another recession hit, don't be surprised.
That’s what happen when the federal government gets involved. If loans where harder to obtain(like in the financial sector) then colleges would have to lose the prices because they need students
I'll tell you why college is so expensive. Student loans. College was more affordable before the creation of them.
The reason colleges had to be more selective with students before loans is only the graduating students would be pay tuition. With student loans, the money is paid to the college wether the student graduates or not. The recipent is on the hook to pay off the loan. There is no financial incentive to get a student to graduate. This has also made it easy to underwrite college costs on student loans. The net result is any person can go to an expensive college by taking out a huge college loan.
This is why colleges no longer compete on the basis of academics. If any person can take out a loan to pay for college, then what matters is student enrollment. To lure in students colleges lure them in with amenities and extracircullars, and the expense is written off on the loan.
I just graduated in May with no debt and I still remember during open house of them bragging about amenities and clubs. It's so crazy that a daughter of a family friend decided one of the biggest factors of where she wanted to go was a good football team and she wants to study astrophysics!
The net result is colleges are being given free money from the federal government with no incentive to rein in costs or get students to graduate because they get the money no matter what!
Just my $0.02
There is no such thing as free college!
They say if you get a college degree you will make $1 million more over a lifetime than someone with only a high school diploma. So these people who make less will have to help pay for college graduate bills. That is messed up.
It’s nice that we get forced to take classes that do not even apply to our job. Why do I need “art appreciation” in order to become a doctor???? 🧐
@B Maez I'm pretty sure that would be considered an elective
@@royharper2003 yes, except they are required. I have the options to choose between gender studies and anthropology for one out of 12 required humanity classes for a physics degree. There goes my parent's hard earned $48000.
@@royharper2003 Good for you. Personally I think the 12 humanity classes(except for 2 philosophy classes) are too extravagant for my time and budget, but I found other CS, engineering and science electives helpful and worth the expensive tuition.
@@royharper2003 I know this is a pricious opportunity that's why it must be used properly. I am not your enemy, I am addressing a serious issue regarding college debt. BTW, haters never overcome their fate because they focus on differences and unfortunate events of themselves. This is my last word for you, either you ll hate more, or this will really help you.
@@allenzhang8261 Allen, I think the idea behind having (or forcing, depending on one's perspective) students take classes that aren't too directly related to their field is so that we don't have students that are incredibly narrow-minded in their education. If we just had students that took only math or science classes and never took an English class teaching them how to read/write and debate what they learned with their math/science workload, where would we be? I know that is a very specific and unique example, but I think it applies to someone like me who is an English major and has to take a few math/science classes as well. I knew someone who once told me they couldn't wait to be done with their classes that had nothing to do with Theater (she was a theater major). I think a well-rounded student that contributes better to society would know somewhat about other fields not related to their own. I hope you do well in your studies
Title should just say "College is so expensive in America", omitting the why
They did tell you why, in the 1970's we had a Tax Revolt. American's pay less in taxes that other developed countries do. Instead of the government paying from you paying them more, in America you pay less to the government so the government has less to pay the schools. Not everybody goes to college, this is true in America and Europe. Since everybody is paying into college in Europe, whether or not they attend it is cheaper for those who attend college. In America, most of the burden is on the taxpayer themselves, they choose whether to pay into college, making it more expensive.
@@EqualsThreeable That just explains part of the problem. There is an argument that high level administration takes huge salaries. Also there is a big expenditure on housing and athletic facilities. In fact, a NCAA recent report mentions that all Division I schools (~ 350) but 10 operate athletic departments at a loss. For instance, in Latin America most of the big and reputable universities focus solely on teaching and research. There are no dorms, little university-sponsored social activities, no athletics. Here in the US, colleges seem quite focused on making "the college experience" a theme park, which drains money.
Why don't high schools teach 4 years of business basics and home economics ? How can an 18 year old graduate and not have any concept of how to earn a profit and keep it ? What a Value Added process is ? How to start their own business ?
@@EqualsThreeable I was expecting an analysis of the costs, not a simple "muh taxes" explanation. I knew already Americans do not like taxes lol
@@SeaJay_Oceans uhm, whom are you addressing?
It's expensive because instead of companies paying for education for the workers that they need, they've managed to get prospective employees and the government to pay for it. Most other countries have higher corporate tax and use that to lower or eliminate the cost of college to students.
Currently in a dental hygiene program in Socal at a community college, but it took a lot to even get here. I had friends who went to university right out of highschool and I also got accepted to a couple but there was no way I could go without taking out a ridiculous amount of loans. I went to a for-profit dental assisting program after working for a year after highschool and it helped me make more than minimum wage but still not nearly enough. Everything is expensive, especially when you do it on your own, but taking your time and doing your best to educate yourself before making decisions really helps. I paid off my first loan while I was working and pursuing an associates degree and I'm just now taking out a loan in order to finish school. I'll be making at least twice as much than most of my friends who have a bachelor's degree from a university, and I'll only have about 1/4 the student debt. They all say the same thing, that they wish that they had waited or worked before continuing with school so young. They have a lot of competition with so many people having the same unspecialized degrees. Even here in Socal.
Insane. Her student loan payment is literally only $5 less than my mortgage.
I bet you check her FB pictures, traveled the world and the rest of the country on a debt. These people...
U can not declared bankruptcy against students loan.
@@campkira In Malaysia, it can. We also got barred from flying or leaving from country
@@goldbrodidoggo and ban from borrowing bank loans if we can't pay our student debt
R R that kind of ignorance, about issues you could easily google, is the reason things are not improving.
My student loan story:
There is none. I did not need one. Going to College is always free in Germany. After all, university in Germany is very cheap.
I'm pretty sure college is just the american term for university I don't think there are many places where you have to pay for european college level education
Nun ja aber Semesterbeiträge kosten auch was und BAföG ist quasi, auch wenn du da dich glaub ich nicht so hoch verschulden kannst, in gewisser Maßen ein Kredit der zurückgezahlt werden muss. Aber du hast Recht mit der Tatsache, dass zur Uni zu gehen hier zumindest deutlich günstiger ist.
U mean that if I want to study music interpretation in Germany, It could cost way more cheaper than US?
@@chrisvelas3213 believe it
Freakygirly da musst du dich bei den Verkehrsbetrieben bedanken. Ansonsten wären das auch nur „50€“.
BAföG ist aber ein zinsfreier Kredit. Das ist nochmal ein Riesen Unterschied.
We live in a sick society where only money matters and people will do anything to get it.
I am a European and to me the idea that to get a university degree you need about €100,000 from a bank it’s just insane.
If I was American I would seriously consider studying in Europe where studying is an actual right and far more accessible than in the US.
Also, in most cases a university degree will not pay off and that’s another reason why to me nobody should ever get a €100,000 from a bank just to afford going to university.
As a child I always thought US were the best, the dream but turns out it’s no longer the case. In my view the US are only for billionaires, entrepreuners, business owners and top level hard workers who don’t mind having 2 weeks vacation in a year in exchange for a high salary.
The land of the FEE
Good one 😂
Lmao
@Spurry Chill! Don't like the joke? Leave!
@Spurry Leftist!
@Spurry and ur tax money goes towards the military were it doesnt need it
Should be titled "College is So Expensive in America". The question wasn't answered.
well what I understood from this is (correct me if I m wrong guys), that students who are paying more money is because they are actually paying the Tuition of a Scholarship student not their own... at one point of this Video the person said that you are paying the Tuition of your fellow Students(which I believe are the ones with a Scholarship).
Agreed. I thought they were going to do a breakdown of college budgets and show where the money goes. Like X% goes to scholarships, X% goes to building maintenance, X% goes to staff etc...
@@emilieb3244 have to hide where the money is being siphoned off to who's pockets somehow
In my opinion they did answer it..
Choosing to go to college is a risk assessment. Based on what I am seeing I really think a lot of people do not do their research first and check the fine lines in that loan agreement. At the same time, the cost of school does not bother me. What bothers me is the low compensation we get in jobs that require a degree, or multiple. Fine with paying my loans but how can you expect people to afford a mortgage/rent, groceries, utilities, gas and then pay for the loan. Cost of living is too high.
Came from a low income family so I was fortunate that I received a lot of scholarships and financial aid. I choose the cheapest option where my financial aid and scholarships were able to cover all the cost and chose to not live on campus but commute. The only student loan I ever had was when I went to grad school and even that I only graduated with 22K of student loans. Choose wisely. You don't need a 100K tuition college/university to get a good job. I chose what worked for my financial situation and they might have not been well known colleges or universities but I was still able find jobs and now I'm making 6 figures.
"Went to schools for a few months, now I have 40k in debt" who goes to a school that is 80k a year without knowing for sure that is what they want
life is hard and sometimes you are overcome by the glitz nd glam ora prestige college and hey i got in maybe i am right for this
She probably went for a whole year and called it a few months
@@AndyCondon117 you gotta pay tuition for the upcoming semester during the start of the semester. So if yearly tuition is $50k then $25k due in August/September and $25k due in January/Feb.
Millenials do
Baylie Trout what?
Temporary solution:
1.) Go to community college first
2.) Transfer to a cheap in-state public
What if I go to to a cheap in-state public school first?
Frost Blame the schools, it’s business - capitalism
@@xuyizhen00 Actually it is isn't capitalism. Prices fall in capitalism. Competition gives you a better product at a lower price in a capitalism. The current system is socialism where loans are subsidized and not priced off risk.
Danial Cheema That’s a good choice. Especially if your high school grades are up to par and you’re going to a state school in the state you reside in. Then you could get state grants that could total more than your tuition costs, so you don’t have to be completely without funds when you’re given the remainder.
Source: That’s what I’m doing right now as a Freshman.
I did this in a way, I went to a community college and then when I graduated, I was able to get a 20k scholarship to go to a private school. It actually ended up being 4k cheaper a year to go to the private versus the state school I was looking at. This is just my experience, but I was so surprised that It ended up being cheaper!
I lived off campus for the majority of my college experience to avoid more future debt. The fine balance of that is that you will be eating ramen noodles only and begin to lose mental clarity. Not to mention keeping the grass cut and house clean, among other responsibilities on top of your schoolwork. & paying rent when you work a restaurant job only during the summer. Now I work at a nonprofit and don't get paid enough. My debt was over $40,000 (2018 graduate) and now is $20,000... I chose the level repayment plan because it was the only one that let me pay it off in 10 years. I live paycheck to paycheck and don't even want a job in marketing any more, the major I graduated with. Every job listing I've seen doesn't just require any college degree, they require a specific degree that tailors to the job requirements. I wish I would have considered more options after graduating high school. I am among the people that would like to see a reduction in how much colleges can charge. They should do away with Gen Ed courses since we already learned them in high school. Lastly, all I wanted to do in my 20's was have my own house... however, I will either have to continue to have a roommate, or even more likely, move back in with my parents. It's interesting to me how the same people that don't want their taxes to go up to mitigate the overwhelming cost of college are the same people that were able to go to college for much cheaper and buy a house back when mortgages and rent weren't through the roof... selfishness at its finest. Of course we've had a recession and now a pandemic to make people on both sides more adamant about their positions and against each other more than we ever were. Of course we also don't want healthcare coming out of our taxes, and when we need that surgery and have no savings, are s*** out of luck... go figure. Make America Great Again my a**.
Want the price to go down?
The government needs to stop guaranteeing loans.
I love the girl had a $3,000 laptop saying she can't believe student loan just sprung up on her.
Gettin BeyWay gtfo with that hypothetical. Even if she had it before, she should sell it and buy a cheaper machine if she’s really serious about paying off her debt.
Yeah but if u divide the price since she been using it to the heart broke that would be a good investment
the problem isn't the student loans necessarily, it's the lack of direction provided by the college institution. Having a qualified degree but not knowing what to do with it or where to work creates levels of uncertainty which also leads to worse decision making in general, such as owning a $3,000 computer.
too fat to figure it out
With student discount it’s probably less than $3,000
Let me get this right: The banks keep giving out student loans to almost everyone who asks for it. The Universities keep rising up the tuition fees due to demand. The job market isn't growing on par with the rate of students who enter into the labor market leading to a surplus of unemployed college graduates. Which in turn results in education loan defaults. Someone, please tell me how it is not different from the 2008 housing market crash. Aren't we approaching a similar financial crisis?
Yeah. Just imagine. Would you loan $60,000 to an 18-year-old? But banks do it in a heartbeat.
I kind of agree, But the big difference is student loan debt can't be washed away in a bankruptcy, so less risk.
Matt yep indentured servitude.
There is no difference in result, both end up homeless
solution, dont go to college, you should see how many of these poor suckers think college is the only option if they want a good paying job, thats the real crime a k-12 school system that drills into their heads that they need to go to a 4 year college
One of my friends when to the Art Institute. He found out that they were straight up lying to people about the success rate of their graduates when he got a phone call from someone at the school asking him how his job was going despite him not having a job because no employers would take his degree seriously because it's from the Art Institute. He FINALLY found work about a decade after graduating from there but I think he is still mostly self-employed in videography.
That example was just from 1 person, I should expect such a low brow comment from some chick with rainbow hair
We need to cap what colleges can charge. I remember scrambling to pay 200 for an anatomy textbook. I wanted to be a doctor but after the cost of the 1st year, I changed my major and abandoned that dream. I didn't want to be 400K in debt, no matter how many cancer patients I wanted to help. The cost of school needs to be capped. There is zero reason for college to cost this much. I had to work 2 jobs in college. One of my whole starbucks weekly checks went towards that anatomy textbook. I had to go 2 weeks eating pastries that we marked out from starbucks because i needed that book for a stupid key code to log into the system. You know how bad a diet of lemon loafs and bagels are? Our country keeps failing us. Eventually we need to start making them fear the citizens because right now, they take us as a joke.
There are people who go to school eating nothing too. There are people who work and save up for the book. I had several jobs in college and I saved up over the winter break and summer break for all the big expenses. But inflation now makes things much harder for sure.
The reason: the federal government got into the business of loaning money, no questions asked, to 18-25 year old kids with no credit history, source of income, or experience borrowing large sums of money that must be repaid.
the govt is controlled by bankowner,they wanna make profit from student load
It's same bs as the 2008 crash. You hand out loans to naive 17 and 18 year olds that they now can't default on for bad degrees (unlike a mortgage where you can foreclose). You then create an oversupply of educated people who can't get a job with their sociology degree and pay back their debt. College prices are still artificially high because of the govt.
And Bernie's answer is to shift the burden to the taxpayers. That will only increase the tuition cost.
@@1990notch Bernie's answer doesn't include collage pay at all if I remember correctly. He wants to increase the tax on high incomes and use it to help the USA in its education. No student will pay for a 4-year Bachelor's degree if he would get the bill passed.
@@assassindancer914 The reason college is so expensive is because the government is involved in giving loans to young people that likely will not be able to pay it back. That's what the government did leading up to the 2008 economic crash with "stated income" home loans through Fannie Mae and Freddie Mac. Anytime the government gets involved this way it always turns out badly.
There are not enough "millionaires and billionaires" as Bernie likes to say, to pay for everyone to attend college. So the middle class will also pay for student debt. This agenda is classic socialist and Marxist talking points. Today it's "free" college, "free" health care. Later on after they've destroyed the economy and people are starving, it will be "free" housing and food for all.
i love how colleges take money from you before you even start going. I wanted to apply to around 8 colleges but i'm going to narrow that down since everyone demands like $75 just to send your application. And the ACT wanted $13 just to send my scores to one college
You can print it and then just take them wherever you want
Some schools let you self report your scores.By emailing schools and visiting their campuses you can get application fee waivers
And yet a $15.00/h min wage is...Unreasonable. $13.00 just to send a paper to a college. $15/h!
I spent $150 applying to The Boston Conservatory at Berklee and I didn't even make it past prescreenings bc of class size. 🙃🙃
Apply to five to seven schools pick 2 safety schools 2 schools at your academic level and 1 reach school. Then negotiate with all of them to get more scholarship money make sure they know you have other offers. Use your safety school offers (their likely to offer you more money) to make sure your academic level school know you have better offers.
The best solution for this situation is to make the schools be the loan holders. They would stop offering so many students useless degrees. They would also be highly motivated to lower costs.
Universities have been given a blank check by the fed government and ultimately we the public are footing the bill.
Why college is so expensive in NORTH America***
I'm a student of an public university on Brazil. Here, iphones have high prices, but studying is free. Every nation must define your priorities.
I am kinda surprised that America has turned everything to a business, living in a country in Europe when the education, school lunches and related are free.
Edit: Damn, I got 56 replies.
Spread The Truth yes but you have to be really rich to get 60% taxes
Well in Europe (the countries) things are smaller such as your cars, houses, land, basically the infrastructure, etc. So it is more easier to manage and keep your economy good with having free healthcare, education, etc. But the USA is the size of Europe (the continent) with a vastly different infrastructure and different systems throughout each state (50) of them, each of them with different guidelines and rules and laws. So basically my point being is that it isn’t easy creating the free education system and healthcare than one may think, there will need to be tons of money and time to change the infrastructure, (which would waste the money that was already invested into creating it) plus the people who have jobs in these industries would need to find different ones and it just creates a whole other mess that isn’t worth dealing with.
tax paid
@@gillmarshall5640 not really, tax bracket in nordic countries are lower. You can expect 50% of your income taxed even though you are in the middle and lower income.
ANYBODY in the US with a pulse and the inclination can go to college. Only the very best of the best in Europe can go, and you pay for it whether you/ your child are good enough to go. College is Europe is NOT FREE!!! The taxes in Europe are high to pay for it!
Keeping the poor...poor.
Kids of rich parents leave college debt free.
Student debt is bad for the economy. The money a student pay towards interest is money not going back into the economy.
@Daniel Garvey most does not. Most goes into shareholders pockets. The government does. Or loan money, they only guarantee the loan.
You can get a home loan for 3-5%. Student loans are over 10%. Some approach credit card levels.
@Cbeddoe19 How about we subsidize the poor kid learning the trade too? Imagine not having to pay for trade school! That's one step closer setting everybody free.
Nobody should have to pay through the nose or jump through hoops to earn a decent living. What we have here and now is a racket.
@@tony_25or6to4 home loans are cheaper because the home is offered as collateral, which means lenders typically lose less money if the home goes bad. Because student loans are often much less secure than home loans, interest rates have to be higher to reflect that risk. I think college needs to be more accessible, but the people who lend money aren't (completely) just money hungry. They have to cover their asses.
Y'know a lot of top colleges i.e. Stanford, attempt to keep their campuses a bit more diverse by making it less possible for more privileged students to simply buy their way into college. Check out their website for details.
Cbeddoe19 You've succeeded in spite of the world around you. That's great for you (seriously, no sarcasm), and tragic for society. Your success doesn't hurt anybody. You're not the bad guy. We have a system that is actively resisting most people's efforts to earn a decent living, let alone become successful.
I just want the problem fixed. I don't care whether the government is involved or not, or how much.
People shouldn't have to do all of what you mentioned to earn a decent living. There shouldn't be any expensive schools or overpriced cities.
People shouldn't have to "fight" or "get out." A decent living for all should be the baseline, not a reward.
I can solve this issue in 3 steps.
1) get the government out of student loans and back to the banks.
2) eliminate the restrictions on discharging loans in bankruptcy
3) let colleges eat some tuition if students can’t find a job
All these people, doesn't stop buying iphones, going to starbucks and spending on partying. Us citizens are so obsessed in spending and doesn't care about savings
"if it's free, people won't give it value"
Actually we do... Because we look at America...
It's true that if something is free, people will not give value. But if you gain from something "free", then everybody will want it.
It's not free. You pay heavy tax
What about the tax people will have to pay for that free education??
Technically you are correct. It's not free because in the end you pay taxes.
But You pay heavy taxes for war, for subsidies to Internacional companies, oil, etc. And it's all ok with you...
But when it comes to education or health... Then it's too much.
Go figure...
@@mphomosoahle4845 its a team effort, you raise the tax to make higher education accecible to everyone, no matter if their parents are wealthy or not.
Said pepole with degrees participate in paying taxes for the next generation to get higher education.
USA is the only country with this problem. Most other countries you can pay off at maximum of 3 years
3 years ?! thats insane. here in germany i pay 250-300€ per Semester so 1500-1800€ for the whole bachelors degree and you get free public transportation within it.
@@falkj.beinker6561 same in France
And that's for those Places in which you actually PAY for college other Places you get paid
@@falkj.beinker6561 Free public transportation with it is actually pretty sweet I have to admit
No one says you have to go to college in the United States! There are other options.
Finished a bachelors in Hungary and ended up with more money than I had before starting it. I started working as an intern after my first year. When my GPA was high and worked around 25 hours a week, I managed to save my whole salary because universities are rewarding high GPA with money. If you have a poor background you can get even more. The price I have to pay: I have to work here in the country as long as it took me to get the degree (3.5 years) or the goverment will ask the money back.
Hello what do you think of BME and civil engineering industry in Hungary
@@melikhanaygor9208 BME is considered as a hard and prestigious University here in Hungary. If you want to focus on your study then choose BME. Other universities are easier so you might have more free time. Generally speaking some hungarian teachers cannot speak english well, so I would suggest you to read about the foreigner's experiences (exchange and erasmus students always publish their experiences online, you can also try to get in contact with some them through facebook and ask questions directly).
@@petersepa1640 Thank you very much for your response. I am looking forward something challenging therefore BME seems to perfect for me.
I went to community College for free 3 years. Got a bachelor degree and masters degree, and i hold 70k in debt. I always graduated on time and never changed my major.
Just for those watching this here’s my advice: Go to Community College for your first 2 years. I was lucky enough to receive a scholarship so I essentially earned my associates degree for free which saved me probably $50,000 if I went to a 4 year. Transferred out and on track getting my Bachelors and Masters in Finance and on track to graduate with practically no debt. Going to community college is worth it, it’s really nothing to be looked down upon.
100% agree. Community college for 2 years then transfer to in-state public university for last 2 years.... and make sure that the last 2 years is only 2 years. I've heard many stories of people transferring to universities, only to spend another 3-4 years there because they enjoy the college life.
I agree with you. Going to an expensive college for your basics is stupid. I earned a lot of colleges credit in high school and then did online before I paid a ton
Very true. I'm paying like $500-600 dollars for 12 credit semester at a community college.
Or end up getting certifications in technical trade programs in CC instead of transferring just like I did
I agree with going to community college first, HOWEVER, double-triple -quadruple check that classes will transfer. I added on a whole extra semester because of bad academic advisors and a lot of confusion
Me, a Nigerian who has never heard of student loans in Nigeria:
Damn, you guys are in deep crisis.
Same here in Argentina, thats why im taking the chance and doing two majors, anyway America has better economy than our countries hah
@@benjaminrecalde7628 what is the point thay have good economy but poor people alot homeless in one city 60.000
I think the economy for 1% of the people and the 99% just like 3rd world
@@Dima-px6pr too true. We live in golden cages. Most of us are in debt to the eyeballs living in places that look nice. Just drowning in debt.
@@Dima-px6pr do you know how 3rd world countries live ?
In Brasil, we have both private and public colleges, but differente from the USA, the public ones are better and more vallued, because you actually have to deserve being there, instead of paying for it. But one problem with it is that getting in those colleges is SUPER competitive, because there are very few spots. Like, to get into med school in a Federal college, it's nearly 600 people to one spot. So what's happening lately it's that some brazilians, specially the ones that weren't smart enough to get in a brazilian college move to other countries, specially Argentina, where it is ridiculously easier to get accepted.
Students need to be held accountable for the public funds. When I hire a new employee, even college educated ones, they don't have basic math or writing skills. I have to spend the first year teaching them how to write an email or official letter and how to calculate basic math such as %change and amortizations. Then I have to teach them basic excel and adobe applications. They spend 1/6th of their time on their phone, refuse to dress professionally and the starting pay is 15K above the MHI of my area with a raise every year for the first 3 years and full benefits including retirement. For this I get sued for unemployment because I fired an employee for wearing sandals in the office after reprimanding her 5 times when the handbook clearly states no sandals.
Thank god I live in Canada. At my uni, a semester costs about $3000. So a year is about $10,000. Most people I know work as well and can pay off alot of their tuition. I haven’t had to take out a student loan so far.
I also went to a local uni and not some high ranking out of province uni like U of T. We also have government student loans, seems like the US doesn’t have good loans like that. It’s actually quite sad seeing what is happening in the US. Something needs to change!