The lasting burden of college debt
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- Опубліковано 8 чер 2024
- More than 1 million Virginians owe student loan debt, which can linger for decades. Direct-to-school debt can also prevent students from completing their degrees, because Virginia colleges routinely withhold transcripts which are proof of credits until all debts to the university are settled. Delegate Betsy Carr has introduced legislation to stop the practice of transcript-withholding in Virginia.
Read More: www.vpm.org/2024-03-28/the-la...
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#virginia #collegedebt #studentdebt #college
Avoid college debt like an STD
Her loans should DEFINITELY be 100% forgiven. 💔
All seniors over 65 should have loans forgiven. Black students have the worst of it.
A lot of older people are leaving private companies and going into government jobs so they can get tuition assistance and other benes. If you're smart, get a job with the government OR the university that will pay the tuition.
Yes, especially for retirees. The whole system needs to be reformed. Those income based repayment plans I think, are a joke because the interest keeps increasing the balance the whole time.
She definitely shouldn't took loans if she couldn't pay them back. And she DEFINITELY could have paid her loans off in a couple years if she was serious. 50K a year for 5 years is $250K earned before taxes.
@@liannawright754 so we should all just put off paying until we are 65 so they can just magically disappear?
Rashaadthegr8
Why don’t you walk on her shoes before you judge?
She tried to pay them back. She is still paying them back
You don’t know how much she struggles financially
None of us have a crystal ball to our future
I dropped out my freshmen year, when the grant I got wasn't enough to cover my first year.
I was pressured soo much by admissions to "just take out a loan."
I was raised by my dad to not build up debt in my name, so I dropped out and started working. I learned how to code on my own over 3 years, and ended up securing my career as a Software Engineer without any degree, now Im senior in my career.
I tell all my young relatives "depending on your goals, you don't NEED a degree"!
Yes but then financial aid becomes a problem, and yes depending on the person, yes we do need a degree, because the jobs we get are low-paying and we can't afford anything. I'm glad you got a coding job, which pays well, but for some of us, it's not like that.
Interesting. Recent statistics show firms are still preferring college graduates or offering only the low paying mediocre jobs within the company. HR departments across the country throw away applications without a degree. Many have software that will disqualify you before a hiring manager sees you application. You don't have to like it, but this isn't going anywhere. Only about 1 out of 700 new hires are benefiting from this new "no college requirement/skills based" mindset. The best thing to do is to college hack your education and get a degree for less than $15,000. And stay away from less marketable psychology, sociology, English ,criminal justice, and arts degrees. (And anything with studies behind the degree name.) This largely happens because people are trying to avoid science and math theorems.
Absolutely right. Good job landing a coding job, it’s a growing field.
My grant didn’t cover all of my freshman year but I also didn’t need loans that year because I secured multiple scholarships. There are a lot of small private scholarships out there that can add up. I think a few of them I had to write an essay and go to a banquet for a photo op with donor. Did you ever talk to your guidance counselor about scholarships before you graduated from high school?
Well done! I too dropped out my freshman year and instead of taking out loans to return, I focused on work. That decision paid off BIG TIME.
The US education system is irrevocably broken. The mere fact that college tuition has increased at a rate much higher than inflation, coupled with the near impossibility of discharging school loans via bankruptcy confirms higher education is little more than a pyramid scheme for banks and schools. Five years ago, our daughter was accepted to several of the "best" schools in the Northeast, but after comparing the financial aid on offer (i.e.95% loans), the tab was north of $300K for four years. So we looked into EU schools, whose countries realise having well-educated citizens is a boon and not cost to society. Her degree in International Business cost an average of $900 a year. She graduated debt-free, accepted a permanent position for a job in her field, and is happy.
This is not the E.U. with all their problems. But here people make choices with consequences. Is our system ideal No! But their are programs across the country which assist those with particularly skills and education.
@@user-tw3kr9if1f what in the world. This is America with all of ITS problems
what EU schools
It won’t change until it all collapses by force , but there really is much more curruption in colleges than just that sadly
I used to believe in the fact that everyone should go to college but now I no longer feel this way! College is just not for everyone
No, it’s a business and it’s a game, you just need to learn how to play the game. Got to stay away from those loans, study hard, get those scholarships and grants..
Exactly, my son is going for IT (Cybersecurity). We are going to pay for it to avoid student loans.
@@Unapologeticallyme89 That is great if you have the funds. However that was not my case, I love education and I went all the way (Doctorate Degree),. If it weren't for the Public Service Loan Forgiveness program I don't know what I would have done.
@@Unapologeticallyme89you don’t even have to fully pay for it, the government desperately need cybersecurity professionals, there’s all kinds of full scholarships, grants, apprenticeships, opportunities for him. There’s apprenticeship programs in community colleges that he can do for two years and transfer to a 4 year to complete his degree.
@@shaunmc013 Yes, I agree. This was somehow hard to find in my case
Poor lady. She figuratively lit herself on fire to keep her family warm.
Poor decision making
Agreed.
Right! I'm trying to figure out why anyone should feel sorry for someone that made a choice to put others before herself. And I don't know why she never looked into getting paid to care for those people. My aunt was taking steps to get paid to care for my grandmother and I've heard others say they put things in place to get paid to take care of their family. Some people just don't do the work necessary to make sure they're good. She could have been taking care of family and herself at the same time and not be in this position. Maybe I missed it, but I didn't hear any mention of her even attempting to pay on this loan. Just excuses as to why she couldn't pay.
@@SummerShandy Unfortunately common sense isn't always common.
College did not do $h!t for me
Same
Why not? Did you pick a worthless degree? Did you not learn any skills while taking the degree program?
SMDH these student loans are predatory! I graduated during the last REAL recession in 09 but could not find a job for nothing bc no one was hiring bc recession and my job even paused merit increases on my already low wages. I graduated with $55K making $11/hr. and now the loans are almost $100K. I wish I never went to college TBH.
This is the problem with the student loan system. Why is she paying SIX TIMES what she borrowed. What other loan causes this damage. A fair system would be placing a cap on the interest. It shouldn't be more than double what you borrowed.
Case 1 should have maxed out at 11,000.
Case 2 is wild, they should've let her back in with a payment plan and reinstate the credit completed.
Agreed. It’s ironic that they have outlawed predatory lending in mortgages, payday loans, and other credit industries but not in federal student loans. It is no coincidence. They will regulate other industries, but won’t do the same to themselves.
I get what people are saying but the fact that the loan has ballooned isn’t surprising.
The terms are laid out that the loan is a variable rate. They work much the same way credit card or other loans often rates do.
The key with these loans are not to wait until you graduate to start paying and pay more than the minimum.
The running theme with the student loans is people aren’t fully reading the terms and/or understanding what they mean when they sign.
What other loan makes you pay that much over time ? Have you ever had a home mortgage?
It’s because she borrowed $5,500 35 years ago and didn’t pay it back. And I can say, from experience, I got a student loan in ‘86 for $2,500. The payments were $25 month. I worked and paid it off. Back then the interest rate was low.
@ cheriebenjamin0315, the loan I had in ‘86 had a fixed rate. My payments didn’t vary and I paid it off.
The average American doesn't seem to understand what interest is
This woman had a balance of 5k. Due to only paying the minimum she's at 30k. Insane.
That's because nobody tells them
Now, this is the problem. People treat credit cards the same way they do student loans.
People boast about paying the minimum payment on a CC to earn reward points and other people say that sounds like a good idea. Now, maybe open your statement and do some math and you will quickly realize that option is very stupid.
How as a nurse was she not able to pay it off?
If she entertained tyrones as a husband and as a son
Nursing in the 80's very different from today..much lower wages... also black nurses have been underpaid historically in addition to women being underpaid overall...
@@Jenjin1313 my grandma became a nurse through community college too and had 4 kids and a deadbeat. She made it happen paid for her degree. She couldn’t make it happen?!?!
She made a choice not to pay it off. It didn't seem like she actually worked as a nurse, but instead took care of family members for free.
@@Jenjin1313 What do you comments have to do with someone repaying a debt?
She obviously didnot pay on her debt $5500 owed over 30 years ago. So many people feel if they ignore it it will go away.
Not true. Interest is high.
@@halfwayempty not that high.
@@lovelife7343 I can tell you it's that high. I have student loans and with the interest, it's more then double of what I borrowed.
The first woman should have her loans forgiven, that's crazy
The young lady with a 2.0 GPA wasn't college material to begin. That's the main problem. Ppl who are not interested in higher education, are going to college with no clear plan, nor goals to graduate. Just majoring in ridiculous studies, and failing courses due to lack of discipline and racking up massive fees.
That’s probably true - but she also grew up in foster care and is probably well aware that she has very little to fall back on if she doesn’t get some type of degree. But I feel for her
About 40 years, I took out a $1,500 student loan that grew to $2,500 because I deferred payments. A few years later, I took out a $2,000 parent loan to help my daughter, and the debt doubled because I deferred payments. During that same time, I took out about $15,000 in student loans to finish my bachelor degree. One day when I was in my early 40's, I realized that I had accumulated a $26,000 student loan debt. I started making minimum payments, then realized I was not making much progress. So I changed my lifestyle dramatically and focused on paying off the debt in two years instead of 20 - 30 years. After paying the parent loan off in four months, I increased my payments for my loans from $200 to $1200 a month. All my bonuses and IRS refunds went toward wiping out that debt. I am 68 years old and have been free of a student loan debt since 2003. And by the way, I was earning $25,000 a year. Determination!
I worked through my degree program as a mom and refused to take out a loan. I was exhausted! But debt free!
When I first thought of going to college I noted the high cost. My father suggested serving in the military and have the GI bill to pay for my education after my discharge. That is exactly what I did and my bachelor degree and masters are paid for, no loan debt for me. Plus I had the honor of serving my country. Best decision of my life.
There's a very simplete solution to all of this. Pass a law banning the Federal government loaning money to 17 year olds.
How many people did the first woman do nursing care? Now she is taking caring her grandchildren? Maybe she should have been more selfish
Very true
I was thinking the same thing and hoping that someone else felt that way. Why are you taking care of your grandchildren. Where are the parents? People are so selfish.
If the older lady borrowed federal student loans, she should enroll in the student loan repayment program that Biden has. Under that plan and her circumstances, her payment could be zero dollars based on what her income is.
This is exactly why I am putting my oxygen mask on first and this if I can will help. Women are most time likely to end up in proverty becoming a caretaker and not doing things to financially take care of themselves when they reach their elderly years
I thought the same exact thing. Unfortunately, for too many black women, we’re too busy being strong and taking care of everyone else but ourselves.
In college with a 1.9 GPA???? Should’ve just got a job instead of wasting time and money.
They got played, like any scam.
And she thinks she's going to make it into Law School!
That’s the “everyone has to go to school” mentality
I am not understanding why $5500 was not paid years ago it boggles my mind. I can’t understand completely it would have been better for her to chip away at her bill from the get go. I would have sent in a partial payment something is better than nothing.
I so agree with you on this. At first I thought I heard $5,500 wrong? I looked it up and the average RN salary in 1989 was $37,738. She should have been able to pay this loan off within 1,2 no more than 3 years max! I’m sorry but that could have been taken care of right a lot sooner.
Yep something’s not adding up
@@mmp495 I don’t think she graduated with a nursing degree.
Do you understand how interest and payments work? Cost of living? They never stated the interest rate or what type of loans she took out. A lot of student loans are designed to be ultra predatory with high interest rates and payments that are designed to almost never lower the principal amount and only pay a portion of the accrued interest. Often those facts are hidden from the average, inexperienced borrower (who are exactly the population taking out these loans).
Additionally, just because you graduated doesn't mean life, inflation and other bills cease to exist. Even professional life comes with built-in costs to the worker (uniforms/businesswear, transportation, food, etc.).This happened in basically the 1990s, not the 1960s. If you Google the cost of living, housing/rent prices (~100k/$400), car prices(10-15k) and interest rates in VA in 1989 and adjust for inflation, you'd also understand that the financial picture here is similar to what we were dealing with pre-Covid. So, $5500 in 1989 is about $15,000 today.
The legislation regarding transcript withholding needs to make its way through federal government. My son earned a bachelor’s degree debt free and decided to return to his same college for a second bachelor’s in hopes of moving into a Master’s program. Because of FERPA and my inability to speak with the financial aid office and how awards are given once a person receives the first bachelor’s, he was hit with a hefty loan direct from the school. He is now in the fire department and getting his transcript would give him a pay differential but the school won’t release it because of what is owed. My son was only 19 at the time, an age where many kids are still filling FAFSA alongside their parents. I think these practices need an overhauling. There’s no way that teens should be assumed to understand the rhetoric that exists within loan documents.
Why couldn’t Salona maintain a 2.0 GPA??? She must’ve been on Academic probation, do you see how they keep so much information out of these stories. They’re keying in on the debt aspect but they’re not explaining how these students are getting into this debt. When you’re in college you have to keep your nose in those books. She’s going around in a circle, because she wasn’t studying like she should have.
@shaunmc013, Laying on that JUDGMENT pretty heavy there. Anyone with common sense on how colleges work knows that she was on academic probration. Just looking at her affect, one can see that something aside from school, has been weighing her down. Her low gpa is so typical of anyone dealing with struggles. But folks like you that have their life together wouldn't get it.
@@DarknessFalls29 in case we wouldn’t know unless either the reporter says so or Salona. Neither one said she was going through anything. Now, even if you are going through something, that’s what your counselors and advisors are there for, to help you through trying times. You shouldn’t be $9,000 in debt by the second semester of college???!!! That’s crazy. I just graduated with my Bachelor’s in three years. After each semester I made sure my account was clear. Scholarships, grants, financial aid! No student loans whatsoever..
@@DarknessFalls29 her GPA was good enough to get into the University!! So what happened??? and I didn’t have it all together, I talked to people and made sure I was staying on track.
Now see this ticks me off! This should not be. This lady borrowed less than $6000 and paying over 30 yrs for that is just down right pure evil. Shame on the loan provider. You need to squash this ladies debt. In fact you NEED to pay her some of her money back. This is just sooooooooo wrong!! Smh
So she couldn't pay the loans off because she became a caregiver and wasn't adequately employed to repair. $5500 isn't a lot of money, she let it grow over the years.
And this is what the people who keep saying her loans should be forgiven and blaming everybody else for its growth don't understand. SHE did this to herself because she wasn't paying it.
That get should NOT pursue that degree, a STEM degree! At a community college
So who will teach your kids or help the sick?
Could have easily been me. I had risk my life in war to clear mines. The worst part I've never got my degree.
It's a shame people don't get serious about paying their loans off now they have to live rest of their lives in poverty. You don't even need to go to college to be successful and if you do there are cheaper ways to do it.
I'm in the same boat....only borrowed a certain amount for all 3 degrees....now the balance has ballooned to $300K....pitiful....I'll never pay it off and this is just government sanctioned usury aka Loansharking! And... u can't even find a decent enough job to pay these loans back....sad....i wish they just that had debtors jail....where i could serve my time and wipe the slate clean!
Why did you agree to loans of such a large amount?
What did you get your 3 degrees in?
The elderly lady needs to make sure that her debt doesn't get passed onto her kids and grandkids when she passes on. It's sad that this is how loans work but we all need to be vigilant in the laws so the next generation doesn't get screwed over.
It would NOT. USA laws doesn't allow parent's or legal guardian's debt to be inherit.
Student loan debt is wiped out when someone passes on ❤
Her kids and grandkids are not responsible for her debt
Ain’t no telling how many time that loan has been sold or transferred. I’m willing to bet that’s how the interest rate got up, each time it was bought the entire balance was refinanced at the higher rate.
@davidholt7794, if she’s having to rise her grandchildren I’m sure her kids won’t pay it if was transferred to them.
This is a sad story but this is why I tell anyone I know not to get a student loan. Get a grant if you're eligible, and when those funds are exhausted, work and pay as you go. Yes, it will take longer to finish, but at least you will finish debt free.
Don't you have to be low income to qualify for a grant!
TRADE SCHOOL!!!
Exactly!
Or military
They got applied degrees at community college now. It’s like trade degrees like cybersecurity.
@@made432 Yep!
I just got my Bachelors - I made sure I didn’t leave with any debt. I stayed in communication with the Bursar’s office lol 😅
I literally just made a payment on my school loan before watching this. It’s gonna be impossible for me to pay it off, but I will give them a little something monthly to stay off my back.🤷🏽♀️
How much do you owe if you don’t mind me asking?
They shouldn't be able to hold your transcripts at all. You went to class and did the work it should be shown. As for Ms Evans I hope someone does something to forgive her loan and I hope she receives peace.
She only owed 5k and should have been able to pay this off over 30 yrs.
She was also in foster car, in most states ex foster care qualifies for tuition exemption, plus a stipend!!
Best decision was graduating college I’ve ever made. Lifted me out of poverty.
A 5k balance? Ive never heard of this. Its unclear what went on for 30 years. She had children and needed to care for others.
Not having a minimum “ C” GPA of 2.0? $5k from 30 years ago while family take advantage? This report isn’t filled with good examples of college debt.
Exactly! There are holes in these stories. Sounds like both these women dug their heads in the sand and hoped for the best…bad strategy.
The only thing I have against student loans are the interest rates that exceed the amount that was borrowed. Minus that, I think it’s onto the borrowers to only borrow the amount that they able to pay back with the career path they’ve chosen.
I worked my way through school, first year, took a break to enlist in the Navy, finished on GI Bill. Took Master’s at night school. Came out owing nothing. But can’t do that anymore.
Then don't borrow it.
Her original loan was $5,500 but she didn’t pay on purpose. I don’t understand this story she made choices to borrow money but never decided to work and repay her loan. I don’t understand the story line.
In the second case, the young lady didn’t work very hard in college and now the money she borrowed is someone else’s fault. Again, I don’t understand the premise of this story
Life happens, but to owe more than six times in interest is predatory. She never said she wasn't paying or hasn't tried.... she's probably paid over 10K back....
Again, life happens, and neither student said they didn't want to pay what they owe, but to say pay this excessive amount back is ridiculous.
I'm surprised the government doesn't take Ms. Evans Social Security check to put on the student loans.
@cutthechicken194 I wouldn't be surprised if they aren't already taking the maximum percentage in a garnishment. But that probably doesn't cover her payment. SSI is barely over minimum wage.
100% agree. This story is spun in such a way that makes these people look like victims when they’re not. A $5k loan doesn’t balloon up to $30k unless someone has been genuinely irresponsible. Yes, life happens, but these two people had choices to make. It’s not the government’s fault.
The video explains why she couldn't pay for years.
Crazy!!! Jesus Christ. Such a low balance to start. I wished she were able to pay it off...way back then. NOW....the Government should Forgive This! C'mon!!!
If their degrees they got with their loans didn’t create enough value for them to pay for their loans. They didn’t create enough for me to pay for them. You signed. You pay.
Heart breaking yet Incredible stories.
Nursing should qualify for the PSLF public service loan forgiveness
💯 agree. As an educational therapist I qualified for PSFL and had my loans forgiven. For the nurse, her loan was $5,500 in 1989. As a nurse she could have paid it off in 3 years no problem?
She didn’t graduate. She stopped taking classes to take care of her mother. You don’t qualify for PSLF if you never work in the field.
Same situation with Sally Mae and then Navient. Had less than 10k, ended up paying 42k with no degree. Dropped out because to me, it didn't make sense to keep going as I watched it balloon. I thought if I kept going, I would be so far in debt before I am finished, and what if I can't find employment. A degree doesn't always equal a good paying job. After paying, minus deferments, for 24 years, I pulled from my retirement to get out this situation. My student loans barely moved, and the balance only seemed to increase! The math wasn't mathing!! Only in America. Sad!
My father essentially paid off my college debt of 112k through his life insurance policy. Honestly if it weren’t for him i wouldn’t have been able to pay off my debt at all. It’s an unfortunate fortunate situation for me. I was literally thinking in January how the hell am i gonna pay this. Student loans are suffocating.
Wow 😢
The problem is no means have changed with access to these loans. The govt, schools and banks continues to let students and families sign on the dotted line with very few questions asked.
And if the schools don't let people sign on the dotted line, they get accused of discrimination.
You take out a loan, you pay for it, if it means eating two meals a day, freezing in the winter, burning in the summer, not getting new clothes every quarter year, getting a dirt cheap smart phone, etc.
Not happening. Lol
The moral of this story is “ Don’t borrow money to attend college and make better financial decisions”. There is nothing wrong with working while attending college.
all ADOS should free lifetime tuition.
😂😂😂
That is an extreme case obviously her debt should be forgiven.
Ma’am you had FORTY YEARS to payback $5500. I’m sorry but I fail to see how she is a victim.
I agree!
She had no plan of paying it back come now this is bad management! Accountability is real. Then quick to quote God to make people fill sorry for her!
Too bad, so sad. 😮 If she has a Masters, I am a genius. Don't go to college if you can't pay for it!!
Years back, the economy was different. The push was college. Not trade. In most positions, you need a Master to get ahead like teaching. The average teacher makes $50,000, and your student loans and many teachers can't afford to pay for the student loans and live.
If you can't pay cash, then don't go to college. So many things can happen that keeps you from using your degree like what happened with this woman. Other things like your health getting bad where you can't continue college or get a good job, or deciding to be a stay at home mom are just a couple of other reasons. Not to mention all of the people that get these degrees that can't even find a job and if they do, they don't make any more money than a high school graduate does. The student loan scam is one of the worst scams out there because it is a scam that keeps on giving. You can't get out of it until you pay it off or die.
I am determined not to let my grandson have any college debt. I have paid for three semesters at a community college and I plan on paying for the rest of his education at a four year university. I am retired and although financially comfortable, I’m not wealthy. My grandson does pay for his books so he has some skin in the game. It is gut wrenching to think that people will be saddled with crushing debt all of their working lives if they accrue big college debt. It won’t happen to my grandson.
I could have sworn that Obama said after 20 years your student loans would be forgiven…also a great way to get those loans off your back is to become a career employee at the post office and get PSLF
Been paying on student loan debts since 2003. Paid it off 2023. Took me twenty years (140K). It was worth the money. I make a six figure salary.
These people just taking out loans and not making any payments 😂
What?!?!
Don’t go, problem solved!
Surprisingly student loans are not like timeshares that pass on to your heirs. 😂
So sad 😔
These People made a Choice. Stop Crying ! And the media needs to stop encouraging this behavior. I joined the Army right out of High School and after that I got a job.
My daughter and father did the same! I went to work and got my cdl!
People with subprime mortgages made a choice, government bailed them out.
Billion dollar financial institutions made choices, government bailed them out.
Millionaires, billionaires and other profitable companies signed up for COVID loans, government bailed them out.
People overextend their finances, including people whose last name rhymes with Rump, file bankruptcy, and the government bails them out.
I could go on at length.
Y’all only be mad about helping poor people. It’s cool when they do it, it’s a problem when we do it, 🖕🏾
I cash flowed, used tuition reimbursement and Pell grants to pay my community college and then my bachelor’s at a in state university. I did it without any help from anyone. I’m tired of the media making it seem impossible to do. It’s discouraging.
Actually its not 6 times the original loan the actual number is 2.52
Banks are villains. Praying does nothing. This poor woman got burned badly. smh
Not being able to maintain the bear minimum GPA of 2.0, in my opinion is a disability, perhaps she can apply for disability based on that. And what the heck is a ‘Maters of Arts Human Resources: Mariage and Family’ degree?
I’m super confused that the older woman managed to get a Master’s degree but can’t find work. Get a job and help your child pay for after school care or something. Why are you not working so you can be free daycare?
The younger woman was literally failing all her classes for 3 whole semesters. Yes she’ll have to retake those classes… she failed them! She needs to retake so she actually learns the material! She should’ve reached out for help/tutoring after she failed the first semester. Not just kept doing the same thing and expecting to magically pass.
Look I had a crappy job earning $6.35 and I still paid on my loan. There were times I put it in forbearance, which is what happened here, which adds interest to the loans. You shouldn't have to always take care of other peoples problems, which now put you on a spot, where are these people who are clearly taking advantage of you.
76? Girl u are tripp’en! And it was a Jr. college too? 🛑
While i feel sorry for people deep in student debt, you signed the forms and failed to make the payments. Would you pay someone else's car note? What they need to do is fix things that lead to deep debt: cap the interest rates, give training to people who are about to sign on for five/six figure debt, and don't give them away like candy.
People don’t want to hear it, but most shouldn’t have been approved for university & others for loans. When federal guidelines were relaxed, schools relaxed to get more money & now people who shouldn’t have been there in the first place are in a bigger mess than when they started
I agree with the sentiment that schools relaxed their guidelines as a result of federal guidelines not being as strict. However, I think the increase in federal schools loans gave people access to attending college that did not previously have the resources to go which is a good thing. The bigger issue is that the federal government did NOT regulate secondary education costs. The schools were now guaranteed government money so they raised their prices which turned those schools into businesses driven by profit rather institutions committed to education and learning.
@@roheard06 There should be more regulation on the schools for sure, but it's hard to do that without discrimination being brought up. But honestly, some degrees shouldn't be allowed on student loans, because the likely jobs will not cover the repayment of the loans
the system pays family members if they provide home care for family members.
1989/35 years is a long time to pay pack 5500 dollars.this is simple contract law.
you signed up to be responsible for your debt. i'm not seeing my tax payer responsibility
here. i'm a 65 yo white male. in the early 80's, i owed my univerity 9 k and could not get my transcripts. i sucked it up, moved back in with mom and worked 2 low end jobs to get it paid off and get my transcriptsmto get a salaried job that required proof of degree.
Oh please. This doesn’t apply to anyone except this one lady. She could get a grant I’m sure.
5500.00 bucks since 1988…Ok.
$5500 -> $36,000?
Horrifying only in America
Then there’s the difference between federal and private loans. Private loans are the worst.
Hopefully somebody can start a GOFUNDME to help her paid of her college debt, she needs to be enjoying her golden years not loosing sleep because of debt.
Once you have reached a certain age (60 or older) your debt should be forgiven.
Poor decision making. Some ppl are comfortable being victims all of their lives. Others make things happen. Get a second job, babysit, haul junk, do hair, sell plates online, tax preparation,etc, etc. You can't sit on your hands & hope it goes away.
I agree ☝️
👎🏾 no, people should not become slaves just because they wanted an education.
👎🏾 no, people should not become slaves just because they wanted an education.
Sure because every criminally underpaid nurse that lives in a rural area working 12 hour shifts has so much free time and mentally capacity to work odd jobs. That is just what we all need a bunch of burnt-out, moonlighting healthcare professionals 😒 with our lives in their hands, instead of making education affordable. Be for real...
Stop taking money and lying about paying it back. Very simple.
This is what happen when you play a game and lose!
It’s a loan…
College is an expensive lesson in self teaching. Teachers can't teach every bit of knowledge required to be good in a profession in the alowed time.
It's mostly a student reading books on their own time which leads to obtaining mastery of a subject.
American capitols designed to keep all but the wealthy few in poverty
All the wage gains that should have gone into the American workers pockets, have flown upstream to the 1%
This dear lady wanted to be a nurse. That’s a hard job. And there aren’t enough people to fill nursing positions
Why doesn’t the USmake it less costly for people to enter positions that are necessary? Help with tuition, transportation and living expenses?
Is it because the powers that be don’t want a well educated populace for sone reason?
Ma’am. Start a Go Fund me. I will contribute to it. We must save ourselves
You can do a Go Fund me and she will give the money to her grandkids instead of paying the loan back she makes poor decisions!
Sounds like this lady made a lot of personal choices that were counter productive. I mean, who gets a Master's degree in nursing and does not use it. Remember, choices are a reflection of attitude and environment.....I owed 67,000.00 and paid it off in 20 years of hard times. No excuses it got done.
Theres no way.. wow.. just wow. Id tell em K.M.A.
If you know, you know
College degrees don't prevent poverty.
Financial wealth is multi factorial and all the i's have to be dotted and t's crossed esp when raised in poverty
Strange that college educated Americans are now paying the same prices to people who work in the trades to get their foundations, roofs and facades to their homes repaired.
Lets not even talk about car financing and repair.
modern day slavery/sharecropping!
Bs she could have easily paid that the same year she graduated making nurses pay I could do it now and I work retail
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Gretchen ..debt..
Sorry, but I am hearing a ton of excuses and dreams NOT grounded in reality. People are going to school without a plan thereby wasting BORROWED money.
That’s not what you heard in this video.
@@LewyLewy2008At all.
How is going to college to become a nurse a pipe dream?
@@ShannonsBibleStudy Some students have the competency to be a nurse and college makes sense. Many people want to be a nurse but ONLY have the intellect to replace bed pans and offer sponge baths to patients.
The two law makers that opposed this bill should be removed from government and not be in government ever again.
My BA cost $0, courtesy of a “communistic” country in Europe. Most jobs in the USA require a BA, any BA. Therefore I can negotiate a little lower salary, which puts me at an advantage over US born candidates, since I don’t have a student loan to pay! QED!
People don't want to pay taxes so they have to pay themselvs
There was a “recipe” to success in the US and anyone was free to follow it: families invested in their members by hard work, self sacrifice, delayed gratification and responsible reproduction throughout generations. The first family members to come from Europe in the 1910’s and 20’s all worked-even the kids-in factories, and let the boys graduate high school. These boys married and had two kids-not more-and supported their families through hard , blue collar work. Some of the kids from this generation were “college material” and went to university. By the third generation in the US, these law abiding, legal, dedicated people were doctors, lawyers, businessmen and engineers. Only those hard working enough and smart enough to earn it went to college. Now everyone goes and the government redistributes income to give the children of the lazy and unsuccessful a free ride. It doesn’t work-they need to follow the recipe-try having daddy stick around. The government won’t be your baby daddy.
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Something’s missing here, she got a Master’s and a Bachelors and couldn’t get at least a part time job while caring for her relatives?
The victim mentality had already cemented itself by then.
@@MrReedGrantberrylol 😅 yeah, we have to stop sh** for real bro. Even when we get what we want we still can’t do nothing..
These stories are sad. No one should be paying that kind of debt at 76. However, if she had a job during her working years, she could have paid probably $25 a month and at least chip away at it. It doesn’t appear that she ever paid any. Also, if you don’t understand what a loan is and that it has to be repaid, then you probably don’t belong in college at all.
The problem that has rarely been discussed is that many students are not academically qualified for college-level education in normal circumstances; nevertheless, under the liberal ideology of diversity, many ill-prepared students, usually coming from poor socioeconomic backgrounds, are accepted into colleges. Once enrolled, they perform miserable, unable to maintain even a 2.0 GPA.
Outside of the banner of diversity under-performing, mediocre, 'non-socially economically disadvantaged' students, are entering college and failing 'miserably' too.
And, this is often intentionally overlooked; diversity in college admissions and just about everywhere else in society, benefited (benefits) white women mostly.