Truth Seeker you have to be good at what you do. You have to have the skills no just a piece of paper. Right now the job market is stronger than ever. If you can't get a job in your field you are either no good at what you do or you don't want it bad enough. No one is going to give you anything, you have to take it. I was in my mid thirties when my debt was paid. Think, if it was easy everyone would do it.
@@erichuff6945 Yeah, I know all that. Was good at my job. Unfortunately their so called union didn't do anything for me. Gave my shift to someone who wasn't even qualified, nor did he have the education or paper to prove it. Nonetheless, doesn't matter now, I'm retired anyway. When I did get my degree I was promised employment at entry level. They told me there weren't any jobs available, so they tried to pawn me off onto some travel agency job that didn't pay much. So I pretty much told them where they could go. Ended up working in food service. Oh well.
Jennifer Murphy I had no idea haha sorry. That sucks that she still has that much debt even after going to community college. It would probably be ten times worse if she didn’t go to community college first though.
I went to community college and got an A.A. After that I went to two universities and got B.S. and M.S. degrees in Physics with no student debt. I went to state schools, lived in dorms, worked and lived very frugally.
Smart move, save money and get an education. And if you save enough you can eventually, if you would like, move to another university with a good chance of not having as large a debt.
@@ALCAN52 The Eternal crybabies, those born between 1945 and 1985, had everything handed to their lazy, stupid, selfish little hands and all they can do is whine and whine whenever us youth want 1/100000000000th of what they took for granted.
Take a look at posts for job positions. Over the years I have seen fewer with highschool diploma and a higher number with Associates & or bachelor, for those positions that could be taken on by highschool diploma.
It takes a lot of work to get fake IDs for illegal aliens. Then they have to get maps to all the polling places, so they can stuff ballots for Liberals. Did you realize it is possible to vote in eleven states in one day? Connecticut, Rhode Island, Massachusetts, Maine, New Hampshire, Vermont, New York, Pennsylvania, New Jersey, Maryland and Delaware. It could be done, if they drive fast enough.
I started at Ohio State in the Fall of 1977. In state undergrad tuition was $270/quarter. Today, tuition for the year is $27k. The minimum wage in 1977 was $3/hr and today (in Ohio) is $8.25/hr. A student today would have to make $100/hr to have the same ability to purchase education that I had. That is why we have a student debt crisis.
I didn’t know my debt till the end. When you graduate before I left I had a meeting with my counselor or whatever they’re called who told me how much I owed on my loan. This was my senior year. Rather depressing. There should be a lot more grants for people who have already graduated to help pay off loans not just for people seeking to go. I was lucky, I know some people paying $900 a month on their loans. Mine is still bad but not nearly like that.
Plus people probably have lots of credit card debt. I don’t know if it’s still legal but when I was in school they had people signing you up for credit cards in the cafeteria. It didn’t matter if you had no credit history. I have no idea how that was OK. Luckily I didn’t have a lot of credit card debt like some people probably did. I didn’t just sign up for whatever but I’m sure many people did. 😢
Well, she didn't get an education in college, BUT, she WILL get an education, post college! She should have read Ben Franklin's "Poor Richard" first? She "Paid too much for her whistle" !
Ha Ha. Your commercial loan can be discharged in bankruptcy. A public student loan cannot be discharged and they can come after your social security checks.
@@averypalmer4237 I don't think you know how bankruptcies work lol... For one you don't just file for one item. If it were a vehicle that you couldn't pay for you would default and the creditor gets it back. And it clearly affects your credit. Also if you were to file bankruptcy, you don't just get to keep everything lol... They try to get the most out of it by taking a large amount of your assets and also it affects your credit. What you want is the hard working class to pay for your mistakes. Not the rich as you seem to be so inclined. And if I were them, I wouldn't stay in a country that taxes me as such.
if youre stopping at a bachelors-unless youre majoring in engineering, nursing, computer science,or accounting, and starting at a community college, do NOT go to college. unless youre bill gate$
@@Makaylah13 You're the one who said "don't go to college unless you're Bill Gates." All I did was ask didn't he drop out of college? So not sure what point you were trying to make there.
@@ariefraiser140 if you couldn't understand what "bill gate$" meant, then you are another one who clearly shouldn't waste money into going to college, proving my point
Damn and I thought I had it bad when I graduated with $22K in debt... I’ll finally finish paying it off this year. Wish I could go back and yell at myself not to go to college and just start working instead.
"Lots of people go to college for 7 years. Yeah, they're called doctors." If you have anywhere close to a hundred Gs in student loan debt and you don't have a series of acronyms after your name then you don't need forgiveness you need a beating.
I think you’re out of touch if you think doctors are the only ones to go that high... and even some doctors are starting to struggle with student loans. God bless America!!!
bad bad mc bad 2/3 new jobs require some college or more. Only about 1/3 of Americans have a degree. For someone with a higher education degree, you seem to not research anything and just make a lot of unfounded claims.
@@Honeypepper. lmao. Keep on studying. My family as with most Arabic and Asian families don't believe you have a degree until you have a master's degree or higher. I am wealthy black. Have a sister who is a board-certified physician specializing in gastroentrology and hepatpology, mother an educator, father owns lakefront property on Kerr Lake in Manson which is unheard of for a black man to own.
@@Honeypepper. Amen. They are just pieces of paper to keep us comfortable here on earth. But I am glad my mother and father paid my sister and mine.❤ God is good. Not too many black people can say they live on a lake and have a sibling who is a doctor.
Just graduated with an associate in Human Resources with a 3.2 GPA with no student loan. I used tuition reimbursement benefit from my employer for 4 years. I paid the difference in cash. Starting my junior year in college next week with no debt. I will continue the same pathway until I hit my senior year. I did not go out-of-state to be cool and badass. I did not go to a private university to show it off on Instagram. I knew what I was able to afford and what my reality was. Edited: I am totally aware I will have to get in debt in my senior year, $15,000 to complete my senior year.
@@ariefraiser140 Yes. Many dumb people who go out of state cause they want to be away from parents. Many people go to private universities to show it off. Unless you go to Ivy institute, it may be worth it, otherwise, a bachelor's from Florida State University is the same as a bachelors from The Ohio State University.
@@Hevendemo Do you want a cookie for your nonsense comment? I shared my story cause I am tired of seeing people complaining for the "high cost of education" or for having a huge student debt for taking a stupid financial decision when there are more affordable options. I have heard the "I was 18-20 and I didn't know what I was getting into excuse". You can't expect a $200 monthly payment for a +$30k student debt. That is basic math.
This person went to college for a human resources degree, ppppffftttttt! Has the audacity to try and show off, Lmfao! Good luck at your desk job that pays 12 an hour sucker!
@@MrJimmy3459 lol me too. Going to a good college does not guarantee a successful career ahead. I know a few people who went to prestigious colleges, but are stuck with minimum wage jobs.
I learned more through owning a business than my 2 VERY EXPENSIVE degrees. My two degrees cost $410,016. NYU cost $71,754 a year or $287,016 for 4 years. William and Mary Law School cost $41,000 a year (out of state) or $123,000 for a 3 year J.D. I now work in digital marketing where the most talented person I know doesn't have a degree. He only has drive.
To be fair....Law is one of those degrees that you have to have to make it a career. Same for doctors, nurses, etc. Those require specific degrees. It's the folks that go to school to study liberal arts, culinary, communications etc who really need to reavaluate their path.
@@CelonixCleaningServicesLLC yeah but if u can go to college for free id do it. Many hiring managers will skim over the self taught person w no degree. What? A "i learned this on youtube/google degree"? Theyre gonna always choose someone w "solid" education. Id take a free ride to college anyday!
Philip Erdman Studying anything online for free is a waste of time if you are essentially locked out of the majority of the higher paying jobs. Degrees are expensive, but they’re a necessity for anyone who wants to make over $60,000 annually. In the future (30 years from now), I believe most people will have to make at least $60,000 a/y to survive. Most college grads end up making that no matter how stupid their degree is. Most low skilled workers don’t. A lot of people say they’ll just start their own business, but they fail because they don’t understand the foundation/finances it takes to start one correctly....because they didn’t study the concept of business in depth.
@@CelonixCleaningServicesLLC for some fields they will accept certifications but you will not be well prepared for the job. It is allot better to attend college.
smnsdndn dhs was I mentally deficient when I purchased bitcoin and xrp a couple years ago and watched them grow higher than any investment you ever saw? Was I mentally deficient when I paid back my student loans using a digital asset most people never heard of? Was I mentally deficient when I made a cash purchase of two cars and still own them title and all? Was I mentally deficient when I stockpiled silver a couple months ago and have been watching it steadily increase? Man it feels good to be mentally deficient.
@Akash Guha Thakurata true, this people took a high amount of student loan for a useless "LiBErAl ArT dEEgRe", and then they don't want to pay, act like they know nothing abouth this and blame the goverment, the system and etc. ...
You don't subsidize them. The money you pay in taxes is what you owe to the government, not a subsidy. It isn't your money anymore once you pay it. The government is going to take too much of your money regardless of whether it subsidizes people's tuition. Why should people pay for unjust usurious debt that drives them into debt slavery and financial ruin?
@ Government tax revenue belongs to the government, not to the people the government takes it from, and the government spends it however it wants. Once you pay income tax money, its not your money anymore, so you are not spending it on other people. Its not a matter of generosity.
“You have to go to college to get a good job” I’m 20 years old graduated high school last year and am in a really good company with all the benefits you can imagine making $80,000 a year. Give me a break. She’s so blind.
Fixed the title: "Millennials struggle with the consequences of their predictably poor financial decisions. " When you apply for student loans you know exactly how much the degree will cost you, with interest, and the earning potential for that degree.
@Mr. R Assuming sarcasm, you've just made a decent argument against allowing 17yr olds to apply for loans at all then. Maybe after a couple years of community college math and economics they'll be prepared to grasp the simple concepts of opportunity costs and compounding interest.
This is what happens when you tell 18 year olds they’re smart enough to BORROW money. 18 year olds aren’t old enough to drink but they can go into debt for thousands!
What we do not hear is what they majored in. Too many of these kids chose majors that are not going to pay off. Majoring in women's studies or (fill in the blank)--studies is not going to get them a high paying job. Part of the blame goes to parents who either don't have the money or allow their kids to go to a school they can not afford. My daughter started at a community college, paid as she went plus I helped, she lived at home and is now 22, makes $70K and is loving life. It can be done, but these kids need to really look at what they can afford and sacrifice to get through school. It is a little hard for me to have mercy for someone who pays $74k to go to Stanford when he majors in a $30,000 a year job!
It's not a burden, it's a choice. All your teachers conditioned you your whole life to think that if you went to college all your dreams would come true, and mommy told you it would be okay to take out all that debt. Now reality has kicked in.
It is a burden, and unjust. The colleges choose the price of tuition, and the government encourages people to taking loans for the purpose of leading them into long term debt slavery. The naivete of the students doesn't justify colleges and the government keeping them in debt slavery.
@@anthonypuccetti8779 No one holds a gun to their head. The reason why college is so expensive is because the government wants you in debt in your young adult life and the colleges are a money scam. The more people scream for free tuition the more it costs, just like the big hike after federal loans became available. How come nobody is demanding these professors work for free? The staff is the reason why everything is so expensive because they love their six figures salaries. If they really believe in free education why don't they volunteer their time for free. I can't even imagine telling someone 100 years ago that in the future you will pay hundreds of thousands of dollars for a piece of paper that doesn't even guarantee you a job.
@Miranda Taylor You’re saying people are naive but you don’t even have a solution to the problem LOL If college is a scam, what should people do instead?
Imo, instead of making college free we should fix the public education system. Make it where the last two years of high school are nothing but specialized electives that give you college credits or a certificate in a certain trade. I got my CCENT right our of high school and could get a decent paying IT job right now. (If I wasn’t so asocial and akward at interviews) Of course fixing the system would never happen because the government and bankers love to pray off of those sweet sweet unsubsidized loans.
And honestly it wasn’t even their education. Many of us got educated without debt. It’s their choices, consenting to that debt, signing their name knowing how much it was..... your choice, your responsibility.
I'm 21, graduating next year and will likely go to one year of grad school. Estimating to finish with 30k in debt by which time I would have commuted when possible, worked full time both summers and a couple school semesters to keep the loans just that low. I knew what I was signing up for. So I also chose a promising career and already have employers interested in hiring me full time with enough pay to wipe my debt in a year if I swallow my pride and stay home. And that's just entry level. I took responsibility, considered all my options, made a plan, and all of a sudden I find myself confident I can handle debt most kids take at least 10 years to pay off. Our debt only gets out of control because we don't take control first.
@@tonyproducer5582 Like it use to be? I'm not sure if you mean taxpayers "investing" in it, which wasn't ever really the case, or when it was an actual investment because there weren't idiotic, dead-end fields of study.
These were legally competent adults who entered into a loan agreement under their free will. No taxpayer money should be used to pay for these personal decisions.
"Legally competent" how is someone competent? Legally? I thought someone is either competent or incompetent? I heard of a legal adult but that's all. No Harry, the right way to view this is through eyes of compassion. Knowing that what we have here are young minds whos concerns are with things and ideas that accompany being young. ie romance, sports, fun times, the weekend, new friends and things and yes a dream to become someone someday. Turning 17 to 18 does not magically bring with it the wisdom needed for adulthood. What we do have here are essentially predatory lending practices. Done by banks and businesses who are definitely adult. Not far from what a drug pusher is all about, a con-artist. More fault, is in our government than any where else. If they were competent, "wise" is a better term, perhaps the young students would not have signed on to these loans.
@@dfpolitowski2 In American Law, competency is determined by a few factors. These usually come up with the elderly (e.g. changed will) or a minor who cannot legally inherit or sign a contract. A contract signed by a minor or elderly person who is not legally competent cannot be enforced. If you feel that 18 year olds should not be held legally accountable for their legal obligations, then perhaps our society should disallow them from entering into contracts. I believe we are move in this direction already with raisimg the drinking and smoking ages. Else, they are like the rest of us who can and do make the occasional bad decision. Moreover, the banks no longer do college loans. This is now exclusively done by government entities. I am sure you would agree that an individual who cannot be held to their obligations should not be entering into legal agreements. Perhaps they should required an adult to act as a surety. Or do you feel their parents also lack the wisdom to enter into these loans?
@Jamaican Voodoo Posse I have to agree with you. The issue is the availability of loans is the cause of the outrageous tuitions rises. It allowed the Universities to charge upwards of $75k /year. Thus, all you are proposing is supporting the out of control spending at Universities and making college administrators wealthy. Look up how much a provost makes. It will shock you.
@@harrychu650 You have a good point there. Yes, I think that would be a good Idea to have loans only for older more mature people. Like over thirty, your can think of me as extreme or not but If I had it my own way, I'd do away with all personal consumer loans and that includes credit cards for all at any age. Its just simply not needed. And look at all the trouble its caused.
@Jamaican Voodoo Posse Yet the President of NYU gets paid $2.5m only because of the endless supply of kids with Fed Loan money. But for that government loan money they could not pay themselves these amounts. I cannot support any solution that doesn't address the cost side of this problem. College administrators have gotten rich over the current system.
What about her being a full-time homemaker, driving her own car, shopping when she needs, lunches with her friends.....while her husband makes $80,000 equivalent. Was that era too sexist in America?
I have a lot of friends with English literature and arts, television and humanities all worthless might aswell go to schools in the SEC and get a degree in hogcalling or leather crafts.
Gabriel Castaneda Not really. I did get an arts degree, actually 2 arts degrees. I have a disability it is difficult to keep up payments with my disability. I have also ran two businesses selling design and antiques. When my disability issues kicked in I liquidated my last business. I don't receive SSDI. I have skills in photoshop, motion graphics, final cut, product design, acting, playwrighting, filmmaking, printmaking, graphic design and have earned income in all of those areas over the years. Many of my peers are very financially successful. In fact one of my teachers Audrey Niffenegger signed a one million dollar book contract and a one million dollar screen rights contract while I was attending. At that school I had 100% of my tuition paid. But I am like many paying back my undergrad loans which have ballooned after the recession. I graduated in 2008, and struggling with a disability. There is a problem with art schools not preparing students with enough entrepreneurial and business skills. Which is necessary for success as an artist or designer. But art education is not itself the problem. But really, everything you see on the internet, all the motion graphics, all the advertisements, all the products at crate and barrel, television and movies etc. are actually DESIGNED by people with art, film, design and architecture degrees. Art and design are a huge part of the US economy. In Great Britain art, design and cultural production is one of the largest sectors in their economy. It is absolutely absurd when I hear people say it is a useless degree.
Graduated with a stem degree with 25K debt. Got a job making 60 grand after graduating. Paid it off within a year. I lived within my means and cut back on spending and done. Simple. If you're not going into business/stem/medical degree, dont get a degree. A lot of ppl nowadays I've noticed are getting a degree just for that 'college' experience. I wasnt in a frat (not paying 1 grand every sem as dues, fk that) and my free time when left after all assignemnts was working in restaurants and retail. My other friends ppartied instead. All about priorities
Most borrowers aren't complaining about paying for their loans. They are complaining about the compounding interest tacked on the original borrowed amount. By graduation their loan balance is triple+++ what they actually borrowed. It's called usury, and it should be criminal.
College is necessary if you have a specialty medicine, law , science & engineering. If you going for these degrees we’re you just take classes and you really don’t do anything, it’s on you!!! There are two types of people who go to college those that leave with a career and those who took classes.
I got a degree in psychology, just a bachelor's, and I got out with a solid middle-class income job. Its definitely possible in other fields but requires forethought, planning, and long-term goals. (This is hard for a newly graduated 18 year old to plan for!) Then again: I was also an older student.
Kids need to be educated what debt is in elementary school. How to save money, how to have a bank account, etc. Borrowing to go to college is acceptable, as long as you have a long-term plan to pay back what you borrowed.
its common sense is it not? the problem isnt they dont know what debt is, its that they are under the impression that once they get a job they will be able to pay it all back.
The greater the risk, the greater the reward. Unfortunately you could be born at the wrong time in history or just experience bad luck such as a down economy when you get your degree.
Most people were manipulated into thinking it was safe to borrow money and go to college. College and student loans are a scam. The US economy will eventually crash if the debts aren’t forgiven. I don’t mind watching the us economy crash.
A. Citizen Sure colleges are a lot more expensive today than they were a few decades ago. However, she still made a terrible choice to attend Texas A&M knowing she needed to borrow a large amount of money. The amount of financial aid she was eligible for was listed clearly in the financial aid package before she made the choice to attend - there shouldn’t be any surprises. I don’t know what she majored in, but it appears to be a BA degree, so the earning potential really isn’t that high unless it’s one of the top 10 or 15 schools and she goes into a well paying field (at least for a few years to pay off the loan) like finance or consulting. That said, Texas A&M is still a very good school, especially in Texas, so I think she will be fine finding decent paying jobs in the future.
I can speak from experience as someone who graduated with significant student loan debt in 2008 (about the same amount as the girl in the story) at the beginning of the recession and it will suffocate you. I struggled to find a job and took a less than stellar position to simply have a paycheck and benefits. But then I started hustling. I didn’t shop. I didn’t go on vacation. I worked a second job waiting tables. My husband and I got married and had babies after 2010. We bought a house. The trick is this: buckle down and work hard. Put as much toward the debt as you can. Don’t be too good for any job. 11 years later I’ve paid them off. No windfall or lottery winning or distant uncle left me his fortune. I just did it. You can too. 53k sounds like a lot but if your working hard and being smart you can get them paid in 5-10 years.
I graduated with $70K in student loan debt...made sacrifices (moved in with parents, devoted full paychecks to paying loans back, and didn't spend money on things I didn't need) to pay them off in less than 4 years making less than $50K per year. Its feasible - if you are financially responsible and think long-term...
Quit giving away athletic scholarships and learn to get your hands dirty. Learn to weld, be a auto/truck technician, plumber or electrician. 4 year college students don't know what they're signing up for.... Classic case of not asking what something will cost you, but buying a "payment". *NOPE* let's not reward poor decisions and bad behavior....
When I went to school, kids were allowed to work 1/2 the day, learning a trade, helping their families out, and getting wisdom about the world, jobs, and the need for college...if any. I just wish a lot of these nice kids, facing a crisis, had had that opportunity...
I took math in high school and community college, somehow I think these kids didn't pay attention in that class. When I looked at the earning power vs debt potential in my area of interest, I decided it was a bad deal and didn't take it. I work in a trade field now making $50,000 a year, and I don't owe anybody anything. Debt forgiveness can not be the answer. You will sow the seeds of deceit and greed into our society.
When they spend student loan money on a spring break trip to Cancun with their friends - you wonder what they are thinking. The kids that end up with over $100,000 for a degree in social work are the ones who are in deep do-do. We need to STOP pushing college unless the degree is doable at a community college. My daughter got hers there - she does X-rays & CT scans at the Children’s Hospital & loves her job. Surgeons ask for her because she is so competent. I had to have a B.S. degree for my job (medical device sales) - but I make a six figure plus income so it paid off from the beginning of my career.
The fact that people feel they need college to get a job is an indictment on how bad public K-12 schools are in this country. How can you spend 13 years in these institutions and have no marketable skills?
Why go to college to study for a field that doesn't pay enough to pay off your college debt? It seems a lot of Americans just go to college because that's what your are supposed to do. 🤔
I have student loan debt. I wish I would have thought of the repercussions when I accepted my student loans. The people in the financial aid office encourage you to accept the loans, giving you reason why, saying it's a good decision because it pays for itself really after you graduate. I am burdened by these loans everyday, it's depressing really.
Yeah those SOBs got me too. I reported them to the dept of education but nothing was done. These schools get millions in scholarships but they they prefer to keep it and tell students to get loans instead
Massive SL debt will ruin your life. You will never own a home, never have children, and suitable marriage mates will reject bc of your massive debt. Better to have done a stint in prison. You will pay for life for a mistake you made when you were 16 yo to 24 yo. For many, sui cide will be the only way out. I'm a 52 yo Gen Xer, I know from experience, I graduated with my masters in 1996 and was immediately in the hole $70K. It's now ballooned to $130K (interest).
I’m a college student, blessed to come out debt free, a lot of people I see with debt have majors that have won’t get them jobs like gender studies and stuff like that. You need to get a major that will give u a good return on the risk of going to college
I am guessing it must be security. Yeah, i have a friend who is 20 at a community college and he does security, though he started off at 16. Then, I have another one 22 at a state university who told me he started off at 20, but with a promotion, he gets 29 per hour.
A C ... I know Biology majors who make $15/hr out of college. I’d say $18/hr isn’t horrible to start. With the available OT I was able to make $55k @ $18/hr base. So it all depends on what you choose to do. The fact that I had and still have no college degree and make as much as a starting engineer tells me that drive will take you a long way in certain industries.
Instead of borrowing money for college, go to a college you can afford. Or serve in the military for four years. They will help you save. Don't borrow if you cannot pay it back. They need to learn this in high school or in the home. What are they learning? Stop letting foreign students in our universities and prices will have to come down. Federal government can cap tuition. But the bottom line is you made the debt you pay it off. That is how the real world works.
I’m 22 years old and about to finish community college with an associates of science. I paid for school myself. Because I make too much for fafsa. Which is firm, it was honestly easy to do. I was going to go to a four year but knew I’d needed loans, I researched a ton and I’ve decided nope! I’m gonna stick with my two year degree. Not worth the debt. Especially considering I already make $42k a year at a job I’ve worked since graduating high school and yeah it’s boring but it pays so well and I have great benefits! It’s the type of job I know will look good on future resumes if my growth at this company stops. It’s funny because I make more than most of my friends with college degrees, and they also have loan payments. So even if they make more than me in a few years, we’ll be living the same because they’ll be paying those damn loans every month. It’s a joke! You don’t need a degree to be successful. Find a trade OR just really apply yourself in office settings and learn specific fields. I’m involved in logistical management and I know I can keep growing this way. Most of my coworkers making upwards of $100k a year don’t have degrees.
you’re an idiot. trades aren’t for everyone and just because you make that where you are at doesn’t mean everyone else will. college degrees open doors
i paid back 20k feels good to not be a burden to taxpayers like these kids who will default, but if the next president forgives loans ill admit i made a huge mistake
They NEED to go to Dave Ramsey BEFORE they ever attend college. These college 'graduates' don't seem to be intelligent enough to know what 'asset' and 'liability' are.
Her dream job was registering voters in Colorado. She went to Texas A&M and got a Bachelor of Arts in liberal arts. Then she wanted to get married, buy a house, and start a family. Not a good plan. Not a good plan.
I graduated a year ago and I am paid up on student loans for the next 2 years already. It all depends on which field you get your degree in. I got one in a field where demand for employment far outreaches the supply of potential workers, and I got a pretty decent starting salary because of that
College itself is NOT a scam - I'm so tired of hearing this. Much of the problem comes from students taking out loans to attend private colleges - that's akin to financing a Bentley. If you have to finance it and pay interest, you CAN'T afford it. Students need to be humble and attend the schools that are within financial reach, like community colleges and state universities, or work super-hard and win a scholarship to an elite school. And of course, if possible, live at home to avoid paying rent/dormitory fees. Yes, college tuition has gone up dramatically, but there are ways to get value out of a college education without getting enslaved by massive debt. I graduated from a top-tier public university after transferring from a community college with ZERO debt. My husband served in the Army and used his tuition assistance to graduate with a BS with ZERO debt. My two sisters-in-law went to a no-tuition college (Berea) and will too, graduate with ZERO debt. It CAN be done.
@@ALCAN52 I think it can easily go either way - your move was certainly wise, especially considering the SS and savings aspects. You must have saved like crazy and invested well. My husband and I are also on our way toward early retirement with a million net worth by early 50's (while raising 3 kids and supporting my mother), so we're not doing too shabby. And we certainly enjoyed the years in college learning different things we wouldn't have even considered otherwise. I certainly needed my degree for my career in higher ed administration, so college was the right path for me. I think there are smart ways to do either way - college or no college.
ContainedFire I did community college, went to private though to live at home so it would have came out the same as living in a cramped dorm 2 hours away for 10 grand a year. I paid off my loans in just one year including a masters. 26 debt free grad school diploma. missing the great job but side hussles getting me through now.
I didnt attend college and was still able to land a great job. Im so thankful that I didnt cave to the pressure of going to a four year college. People called me a slacker for it.
Didn't research the career pay after graduation went into debt and now you're the victim? And we should bail you out? I paid for school myself do I get reimbursed too?
"The only way to get a job is to go to college." Say that to a former classmate of mine who got a welding job 2 months after graduating from a trade school with, guess what, NO DEBT.
2/3 of people who hate student debt are women More women are going to college and earning degrees than men Men are turning away from going to college while women are rushing to go to college Coincidence...? (I think not!)
You wanted something, you took out a loan to get it and now you have to pay it back. What's the problem? Buyer's remorse? OK. How is that any different from someone racking up 10's of thousands of dollars on their credit card and then crying about all their debt? Sick of these people whining about their student loan debt.
I went to college for a half semester. I never went back. I have no student debt. My car is paid off. I own my own house. I work for a company. I believe in the 10/20/30 rule. I pay myself first. I am 35 and good with money.
I’m 28 and I have $40k in debt. Recently married and because were married it now shows us having “more income” which means the government takes more money for our loans when really we have almost $100k in student loan debt together. We can’t even get a house with this kind of debt. It’s the biggest stressor for us. It worries me to think we will never be able to pay them off.
Johnny Tramain well that’s not accurate. Even with every single monthly payment you can’t even cover the costs of the interest alone. Pretty much giving the loan companies free money that doesn’t even go towards our debt. There were many discussions had on our finances before our wedding. Didn’t take on any debt for our wedding and have all debt paid for except the student loans and car notes. We’ve sat down and tried to tackle how to get rid of student loans before we retire. If you’ve never had a student loan you wouldn’t really know the types of issues that come with them and what they don’t tell you prior to college. A lot of people start with student loans while still under their parents. My parents knew nothing about them and just assumed right out of college I would have this amazing paying job. Nope. That didn’t happen for about 4 years AFTER college. College didn’t even get me where I’m at today. If I knew back then what I know now, guess what? I wouldn’t have gone to college.
After the Air Force, I worked full time supporting myself, and went to Community College 4 nights a week, year around for 3 years. I got my AA/AS degree. My pay went from $8 per hour to $22 per hour.. NEARLY TRIPLED MY PAY on a Community College degree, >>> ZERO DEBT
A college degree doesn't guarantee a job or career. Been there. Done that.
Unless you get the right degree. There would always be jobs and opportunities for doctors, engineers, accountants, etc
@@milhouse14 Not necessarily. Too many college graduates, not enough jobs.
Truth Seeker you have to be good at what you do. You have to have the skills no just a piece of paper. Right now the job market is stronger than ever. If you can't get a job in your field you are either no good at what you do or you don't want it bad enough. No one is going to give you anything, you have to take it. I was in my mid thirties when my debt was paid. Think, if it was easy everyone would do it.
@@erichuff6945 Yeah, I know all that. Was good at my job. Unfortunately their so called union didn't do anything for me. Gave my shift to someone who wasn't even qualified, nor did he have the education or paper to prove it. Nonetheless, doesn't matter now, I'm retired anyway. When I did get my degree I was promised employment at entry level. They told me there weren't any jobs available, so they tried to pawn me off onto some travel agency job that didn't pay much. So I pretty much told them where they could go. Ended up working in food service. Oh well.
Truth Seeker wow sorry to hear that happened to you. I totally understand why you would be disappointed and a bit frustrated.
She went to college and her dream job was registering voters? Why?
She probably told the news that she liked her old job better, but they had to put a spin on it
Her dream job is what retirees do. Typical lazy kid.
Deja Boo I make 400k. 400k pennies.
Right? You definitely don't need a Texas A&M degree for that
Deja Boo I make over 400k Started my own business in ‘12
I’m so thankful that I started at a community college.
@@thedramacorner8382 Now you're going to pay off the debts of the people in this video
Haley same, but after two years I’m still in some debt
Jennifer Murphy I had no idea haha sorry. That sucks that she still has that much debt even after going to community college. It would probably be ten times worse if she didn’t go to community college first though.
I went to community college and got an A.A. After that I went to two universities and got B.S. and M.S. degrees in Physics with no student debt. I went to state schools, lived in dorms, worked and lived very frugally.
Smart move, save money and get an education. And if you save enough you can eventually, if you would like, move to another university with a good chance of not having as large a debt.
1:08 "Bachelor of Arts" with $53k in debt and her dream job is registering people to vote. You can't make this stuff up.
MoneyBags the left side is nuts
Even worse, she's probably registering Democrats to vote so she won't have to suffer the natural consequences of her awful decision.
💀☠🤣😭😂💯
She doesn't have sense enough to be embarrassed
Scary part, She'll want to breed
I was in 1k in student debt. Dropped out and became an electrician, paid it off by my first paycheck.
Is this why you can't write a correct sentence?
@@brucewayne3141 atleast he is not crying in front of congress asking for reimbursement of his student loan.
@@brucewayne3141 You got it. How's that 45k of student debt treating you, by the way?
@@kurochi4768 savage bro, hahahaha
Smart and quick thinking!
Her dream job is register voter ? I dont think you need college degree for that
I dont think that job pay much tho, $15buck an hour at most.
Honestly right...? Idiot.
Rick Sanchez imagine - she wants to do something that doesn’t pay anything but is shocked she can’t pay her loans - are you stupid or something ?
@@ALCAN52 The Eternal crybabies, those born between 1945 and 1985, had everything handed to their lazy, stupid, selfish little hands and all they can do is whine and whine whenever us youth want 1/100000000000th of what they took for granted.
Rick Sanchez She sounds not to smart saying that?
- liberal arts degree
- dream job registering voters(what?)
- works minimum wage job
- takes on mortgage debt and trying to start a family
Well to be fair she is blonde. Blondes can be pretty stupid
You forgot to include, complains that other taxpayers aren't picking up the tab.
@@TheBighatter yeah and all of the pos dems are running on that.
Take a look at posts for job positions. Over the years I have seen fewer with highschool diploma and a higher number with Associates & or bachelor, for those positions that could be taken on by highschool diploma.
Big Hatter Don’t forget she probably buys a new iphone every 2 years and drinks a starbucks latte everyday but can’t afford a student loan payment
lol if my daughter said her dream job after college was to register voters i might end up in jail for slapping her in the face
🤣🤣🤣
Right! If she thinks that is a job in itself without needed any other 8ncome, then she shouldn't be in school
😂
Hey stupid. Registering voters is a volunteer activity. Not a career move.
In other words she wants to work at a BMV
I didn't know registering voters was a full-time job. I always thought it was a temp job (even done by volunteers) when elections come up.
She was probably working as part of the office staff for a local party office, those would have some staff year round.
huma474 That makes sense. I didn’t know such offices existed. Thank you for the explanation.
It takes a lot of work to get fake IDs for illegal aliens. Then they have to get maps to all the polling places, so they can stuff ballots for Liberals. Did you realize it is possible to vote in eleven states in one day? Connecticut, Rhode Island, Massachusetts, Maine, New Hampshire, Vermont, New York, Pennsylvania, New Jersey, Maryland and Delaware. It could be done, if they drive fast enough.
Dear Taylor Smith.
You got scammed. You may as well have spent that money getting a degree in Elf Spotting in Iceland.
I bet that degree really exists too!!!
My degree was reindeer spotting in Iceland...
Lmao
🤣🤣
$50k in debt to help register people to vote. SMFH
KO Investing
UA-cam investing channel with only 72 subscribers. SMFH
Definitely a denocrat.
Registering voters (often a volunteer position) was her dream job??
My dream job is a career in publishing, and I'm doing all the work and all the financing myself.
I started at Ohio State in the Fall of 1977. In state undergrad tuition was $270/quarter. Today, tuition for the year is $27k. The minimum wage in 1977 was $3/hr and today (in Ohio) is $8.25/hr. A student today would have to make $100/hr to have the same ability to purchase education that I had. That is why we have a student debt crisis.
She went to college but didn't know her debt till her last semester? And she has an education?
I didn’t know my debt till the end. When you graduate before I left I had a meeting with my counselor or whatever they’re called who told me how much I owed on my loan. This was my senior year. Rather depressing. There should be a lot more grants for people who have already graduated to help pay off loans not just for people seeking to go. I was lucky, I know some people paying $900 a month on their loans. Mine is still bad but not nearly like that.
Plus people probably have lots of credit card debt. I don’t know if it’s still legal but when I was in school they had people signing you up for credit cards in the cafeteria. It didn’t matter if you had no credit history. I have no idea how that was OK. Luckily I didn’t have a lot of credit card debt like some people probably did. I didn’t just sign up for whatever but I’m sure many people did. 😢
Well, she didn't get an education in college, BUT, she WILL get an education, post college! She should have read Ben Franklin's "Poor Richard" first? She "Paid too much for her whistle" !
They learned 'er real smart like.
Yup. That’s the result of liberal college degrees. Dumber than. 5th graded
I bought a $108,756 racecar so I could be a professional driver but noone will hire me. The government should pay off my debts...
Well said :D
Good idea...
I got a $100k loan to make a movie it was a failure please Bernie pay my bills
Ha Ha. Your commercial loan can be discharged in bankruptcy. A public student loan cannot be discharged and they can come after your social security checks.
@@averypalmer4237 I don't think you know how bankruptcies work lol... For one you don't just file for one item. If it were a vehicle that you couldn't pay for you would default and the creditor gets it back. And it clearly affects your credit. Also if you were to file bankruptcy, you don't just get to keep everything lol... They try to get the most out of it by taking a large amount of your assets and also it affects your credit. What you want is the hard working class to pay for your mistakes. Not the rich as you seem to be so inclined. And if I were them, I wouldn't stay in a country that taxes me as such.
if youre stopping at a bachelors-unless youre majoring in engineering, nursing, computer science,or accounting, and starting at a community college, do NOT go to college. unless youre bill gate$
Wasn't Bill Gates a college dropout?
@@ariefraiser140 how many bill gates is there? ONE right? and how many non-bill gates people are in the usa? MILLIONS.
@@Makaylah13 You're the one who said "don't go to college unless you're Bill Gates." All I did was ask didn't he drop out of college? So not sure what point you were trying to make there.
@@ariefraiser140 if you couldn't understand what "bill gate$" meant, then you are another one who clearly shouldn't waste money into going to college, proving my point
@@Makaylah13 Oh I love it. You say something dumb. I point it out. You return with insults. 😂
Damn and I thought I had it bad when I graduated with $22K in debt... I’ll finally finish paying it off this year. Wish I could go back and yell at myself not to go to college and just start working instead.
"Lots of people go to college for 7 years. Yeah, they're called doctors." If you have anywhere close to a hundred Gs in student loan debt and you don't have a series of acronyms after your name then you don't need forgiveness you need a beating.
"Liberal art" they say
Exactly. An 18 year old knows how much 50k is, they're not stupid. Or ppl who go to college shouldn't be that dumb
I think you’re out of touch if you think doctors are the only ones to go that high... and even some doctors are starting to struggle with student loans. God bless America!!!
bad bad mc bad it’s not bold at all. It is reality. It isn’t 1980 anymore.
bad bad mc bad 2/3 new jobs require some college or more. Only about 1/3 of Americans have a degree. For someone with a higher education degree, you seem to not research anything and just make a lot of unfounded claims.
Graduating in May with no loans.
Congratulations, did u get scholarships?
Associate degree on a Pell grant
@@Honeypepper. lmao. Keep on studying. My family as with most Arabic and Asian families don't believe you have a degree until you have a master's degree or higher. I am wealthy black. Have a sister who is a board-certified physician specializing in gastroentrology and hepatpology, mother an educator, father owns lakefront property on Kerr Lake in Manson which is unheard of for a black man to own.
@@mrsr4640 Waw thank goodness higher education is not what's required to gain everlasting life under God's kingdom 😏
@@Honeypepper. Amen. They are just pieces of paper to keep us comfortable here on earth. But I am glad my mother and father paid my sister and mine.❤ God is good. Not too many black people can say they live on a lake and have a sibling who is a doctor.
Just graduated with an associate in Human Resources with a 3.2 GPA with no student loan. I used tuition reimbursement benefit from my employer for 4 years. I paid the difference in cash. Starting my junior year in college next week with no debt. I will continue the same pathway until I hit my senior year. I did not go out-of-state to be cool and badass. I did not go to a private university to show it off on Instagram. I knew what I was able to afford and what my reality was. Edited: I am totally aware I will have to get in debt in my senior year, $15,000 to complete my senior year.
You think people go to out ofbatate schools to be cool or badass and lrivate school to showoff? Interesting.
@@ariefraiser140 Yes. Many dumb people who go out of state cause they want to be away from parents. Many people go to private universities to show it off. Unless you go to Ivy institute, it may be worth it, otherwise, a bachelor's from Florida State University is the same as a bachelors from The Ohio State University.
Do you want an award for that?
@@Hevendemo Do you want a cookie for your nonsense comment? I shared my story cause I am tired of seeing people complaining for the "high cost of education" or for having a huge student debt for taking a stupid financial decision when there are more affordable options. I have heard the "I was 18-20 and I didn't know what I was getting into excuse". You can't expect a $200 monthly payment for a +$30k student debt. That is basic math.
This person went to college for a human resources degree, ppppffftttttt! Has the audacity to try and show off, Lmfao! Good luck at your desk job that pays 12 an hour sucker!
The reason college costs keep rising is because students keep paying it! Good Christ this isn't hard to figure out.
It is for all the sheep who do. They follow instead of think.
This is just basic economics. They will lower the price to match lower demand
It's because the government got involved with it.
Yeah, colleges just want your money. Not to mention it is so hard to get enrolled into classes when not that many classes are avaialble.
No it is because they have cut funding over the last few decades.
If the college is expensive, pick a different less expensive one. Reality is that you can't afford it. I can't afford it.
ppl want the name just like an expensive auto or zip code all show if you ask me .
I attended free bc I actually worked hard in hs not going to mfing A and M
@@rayt5520 that's why you see these pricks with stickers on their car showing which college they went to. I laugh every time I see them
@@MrJimmy3459 lol me too. Going to a good college does not guarantee a successful career ahead. I know a few people who went to prestigious colleges, but are stuck with minimum wage jobs.
I learned more through owning a business than my 2 VERY EXPENSIVE degrees. My two degrees cost $410,016. NYU cost $71,754 a year or $287,016 for 4 years. William and Mary Law School cost $41,000 a year (out of state) or $123,000 for a 3 year J.D. I now work in digital marketing where the most talented person I know doesn't have a degree. He only has drive.
I have a hard drive
What is his name and is he hiring?
To be fair....Law is one of those degrees that you have to have to make it a career. Same for doctors, nurses, etc. Those require specific degrees. It's the folks that go to school to study liberal arts, culinary, communications etc who really need to reavaluate their path.
So, how much are you making in digital marketing?
Ty guo go back to china Alien
Community College ---> Get your GPA up---> Go to a 4 year for free... duh
Jacob P that sounds like a waste of four years. All college is a rip off. You can study anything online for free.
@@CelonixCleaningServicesLLC yeah but if u can go to college for free id do it. Many hiring managers will skim over the self taught person w no degree. What? A "i learned this on youtube/google degree"? Theyre gonna always choose someone w "solid" education. Id take a free ride to college anyday!
Philip Erdman Studying anything online for free is a waste of time if you are essentially locked out of the majority of the higher paying jobs. Degrees are expensive, but they’re a necessity for anyone who wants to make over $60,000 annually. In the future (30 years from now), I believe most people will have to make at least $60,000 a/y to survive. Most college grads end up making that no matter how stupid their degree is. Most low skilled workers don’t. A lot of people say they’ll just start their own business, but they fail because they don’t understand the foundation/finances it takes to start one correctly....because they didn’t study the concept of business in depth.
@@CelonixCleaningServicesLLC for some fields they will accept certifications but you will not be well prepared for the job. It is allot better to attend college.
smnsdndn dhs was I mentally deficient when I purchased bitcoin and xrp a couple years ago and watched them grow higher than any investment you ever saw? Was I mentally deficient when I paid back my student loans using a digital asset most people never heard of? Was I mentally deficient when I made a cash purchase of two cars and still own them title and all? Was I mentally deficient when I stockpiled silver a couple months ago and have been watching it steadily increase? Man it feels good to be mentally deficient.
People make choices. I went to a state school because it was cheaper. Why should I subsidize those who went to expensive private schools?
@Snappingturtle 267 I'll vote republican when I'm rich
@Akash Guha Thakurata true, this people took a high amount of student loan for a useless "LiBErAl ArT dEEgRe", and then they don't want to pay, act like they know nothing abouth this and blame the goverment, the system and etc. ...
You don't subsidize them. The money you pay in taxes is what you owe to the government, not a subsidy. It isn't your money anymore once you pay it. The government is going to take too much of your money regardless of whether it subsidizes people's tuition. Why should people pay for unjust usurious debt that drives them into debt slavery and financial ruin?
Because.... vagina
@ Government tax revenue belongs to the government, not to the people the government takes it from, and the government spends it however it wants. Once you pay income tax money, its not your money anymore, so you are not spending it on other people. Its not a matter of generosity.
“You have to go to college to get a good job” I’m 20 years old graduated high school last year and am in a really good company with all the benefits you can imagine making $80,000 a year. Give me a break. She’s so blind.
Thats awesome I have two gen z siblings and I warned then already lucky me the military covered my tution
Fixed the title:
"Millennials struggle with the consequences of their predictably poor financial decisions. "
When you apply for student loans you know exactly how much the degree will cost you, with interest, and the earning potential for that degree.
College prices are still outrageous regardless
@@shannysalcedo3627 at least you know how much it will cost u
@Mr. R
Assuming sarcasm, you've just made a decent argument against allowing 17yr olds to apply for loans at all then. Maybe after a couple years of community college math and economics they'll be prepared to grasp the simple concepts of opportunity costs and compounding interest.
Big Hatter I learned that in high school.
This is what happens when you tell 18 year olds they’re smart enough to BORROW money. 18 year olds aren’t old enough to drink but they can go into debt for thousands!
NO This is what happens when an 18 YO borrow money. DON'T LOAN THEM MONEY WITHOUT COLLATERAL - They Shouldn't Even VOTE UNTIL 24!!!
Yet, Democrats think that 6 year olds can make gender changing decisions.
I’m sorry but truly the only people who should be taking out $100,000+ student loans is people trying to become a doctor or surgeon.
Or a lawyer
My dream job is to sit on the beach and read. I don’t understand why I can’t get a job. I have a college degree.
I am soo sooo sorry that you have a degree and can read but still don't have a job. Don't worry, President Biden will fix this problem for you.
What we do not hear is what they majored in. Too many of these kids chose majors that are not going to pay off. Majoring in women's studies or (fill in the blank)--studies is not going to get them a high paying job. Part of the blame goes to parents who either don't have the money or allow their kids to go to a school they can not afford. My daughter started at a community college, paid as she went plus I helped, she lived at home and is now 22, makes $70K and is loving life. It can be done, but these kids need to really look at what they can afford and sacrifice to get through school. It is a little hard for me to have mercy for someone who pays $74k to go to Stanford when he majors in a $30,000 a year job!
It's not a burden, it's a choice. All your teachers conditioned you your whole life to think that if you went to college all your dreams would come true, and mommy told you it would be okay to take out all that debt. Now reality has kicked in.
It is a burden, and unjust. The colleges choose the price of tuition, and the government encourages people to taking loans for the purpose of leading them into long term debt slavery. The naivete of the students doesn't justify colleges and the government keeping them in debt slavery.
@@anthonypuccetti8779 No one holds a gun to their head. The reason why college is so expensive is because the government wants you in debt in your young adult life and the colleges are a money scam. The more people scream for free tuition the more it costs, just like the big hike after federal loans became available.
How come nobody is demanding these professors work for free? The staff is the reason why everything is so expensive because they love their six figures salaries. If they really believe in free education why don't they volunteer their time for free.
I can't even imagine telling someone 100 years ago that in the future you will pay hundreds of thousands of dollars for a piece of paper that doesn't even guarantee you a job.
@Miranda Taylor
You’re saying people are naive but you don’t even have a solution to the problem LOL
If college is a scam, what should people do instead?
@@DesignzRUs1 do not go unless you’re going to be a doctor or an engineer. Something viable.
Imo, instead of making college free we should fix the public education system. Make it where the last two years of high school are nothing but specialized electives that give you college credits or a certificate in a certain trade. I got my CCENT right our of high school and could get a decent paying IT job right now. (If I wasn’t so asocial and akward at interviews) Of course fixing the system would never happen because the government and bankers love to pray off of those sweet sweet unsubsidized loans.
49jubilee key word some. Plus they aren’t really encouraged, let alone mandatory.
Both free college and high school college credits.
@@benlogicfactsshapiro hi can so I
Ben Logic&Facts Shapiro lol maybe they need a class in public schools to explain what it means when you take out a loan, interest, payments, etc 🙄
@@linusmlgtips2123 nah if college was free then we'd have too many people with degrees thus not enough jobs for everyone
Your education, your responsibility to pay off the debt
@ LOLWUT?
And honestly it wasn’t even their education. Many of us got educated without debt. It’s their choices, consenting to that debt, signing their name knowing how much it was..... your choice, your responsibility.
I'm 21, graduating next year and will likely go to one year of grad school. Estimating to finish with 30k in debt by which time I would have commuted when possible, worked full time both summers and a couple school semesters to keep the loans just that low.
I knew what I was signing up for. So I also chose a promising career and already have employers interested in hiring me full time with enough pay to wipe my debt in a year if I swallow my pride and stay home. And that's just entry level.
I took responsibility, considered all my options, made a plan, and all of a sudden I find myself confident I can handle debt most kids take at least 10 years to pay off. Our debt only gets out of control because we don't take control first.
good! look into dave ramsey or others for plans to pay off debt quick
@@jacobg8640
@@inlonging He's the one who got me in that mindset!
Looks like more people need Dave Ramsey in their life to make wiser financial decisions.
Yikes!
You just need common sense which isnt common any more
Or Mike Rowe
Or... Invest in higher education like it used to be?
@@tonyproducer5582 Like it use to be? I'm not sure if you mean taxpayers "investing" in it, which wasn't ever really the case, or when it was an actual investment because there weren't idiotic, dead-end fields of study.
Yes!!!
🤦🏻♂️ We’re doomed.
Tuition keeps rising because the government/taxpayer is giving out unlimited/subsidized student loans.
These were legally competent adults who entered into a loan agreement under their free will. No taxpayer money should be used to pay for these personal decisions.
"Legally competent" how is someone competent? Legally? I thought someone is either competent or incompetent? I heard of a legal adult but that's all. No Harry, the right way to view this is through eyes of compassion. Knowing that what we have here are young minds whos concerns are with things and ideas that accompany being young. ie romance, sports, fun times, the weekend, new friends and things and yes a dream to become someone someday. Turning 17 to 18 does not magically bring with it the wisdom needed for adulthood. What we do have here are essentially predatory lending practices. Done by banks and businesses who are definitely adult. Not far from what a drug pusher is all about, a con-artist. More fault, is in our government than any where else. If they were competent, "wise" is a better term, perhaps the young students would not have signed on to these loans.
@@dfpolitowski2 In American Law, competency is determined by a few factors. These usually come up with the elderly (e.g. changed will) or a minor who cannot legally inherit or sign a contract. A contract signed by a minor or elderly person who is not legally competent cannot be enforced.
If you feel that 18 year olds should not be held legally accountable for their legal obligations, then perhaps our society should disallow them from entering into contracts. I believe we are move in this direction already with raisimg the drinking and smoking ages. Else, they are like the rest of us who can and do make the occasional bad decision.
Moreover, the banks no longer do college loans. This is now exclusively done by government entities.
I am sure you would agree that an individual who cannot be held to their obligations should not be entering into legal agreements. Perhaps they should required an adult to act as a surety. Or do you feel their parents also lack the wisdom to enter into these loans?
@Jamaican Voodoo Posse I have to agree with you. The issue is the availability of loans is the cause of the outrageous tuitions rises. It allowed the Universities to charge upwards of $75k /year. Thus, all you are proposing is supporting the out of control spending at Universities and making college administrators wealthy. Look up how much a provost makes. It will shock you.
@@harrychu650 You have a good point there. Yes, I think that would be a good Idea to have loans only for older more mature people. Like over thirty, your can think of me as extreme or not but If I had it my own way, I'd do away with all personal consumer loans and that includes credit cards for all at any age. Its just simply not needed. And look at all the trouble its caused.
@Jamaican Voodoo Posse Yet the President of NYU gets paid $2.5m only because of the endless supply of kids with Fed Loan money. But for that government loan money they could not pay themselves these amounts. I cannot support any solution that doesn't address the cost side of this problem. College administrators have gotten rich over the current system.
What about her being a full-time homemaker, driving her own car, shopping when she needs, lunches with her friends.....while her husband makes $80,000 equivalent.
Was that era too sexist in America?
She was definitely trying to register future democrat voters
If your going to cancel student debt then cancel my mortgage too.
I have zero debt so far but im still struggling to find a job, even a paid internship.
Sorcerer Vaati64 I think this's still better than being 50 thousand in debt . Owning money to the banks or the government is modern day slavery.
If you are computer science, no suprise there. Its hard
What did u graduate with? It all depends on the majors...
Stop going for gender studies and art classes. Problem solved.
I have a lot of friends with English literature and arts, television and humanities all worthless might aswell go to schools in the SEC and get a degree in hogcalling or leather crafts.
Lol you would rather live in a bland society without culture. Literature and arts are important for everyone.
Gabriel Castaneda Not really. I did get an arts degree, actually 2 arts degrees. I have a disability it is difficult to keep up payments with my disability. I have also ran two businesses selling design and antiques. When my disability issues kicked in I liquidated my last business. I don't receive SSDI.
I have skills in photoshop, motion graphics, final cut, product design, acting, playwrighting, filmmaking, printmaking, graphic design and have earned income in all of those areas over the years.
Many of my peers are very financially successful. In fact one of my teachers Audrey Niffenegger signed a one million dollar book contract and a one million dollar screen rights contract while I was attending.
At that school I had 100% of my tuition paid. But I am like many paying back my undergrad loans which have ballooned after the recession. I graduated in 2008, and struggling with a disability.
There is a problem with art schools not preparing students with enough entrepreneurial and business skills. Which is necessary for success as an artist or designer. But art education is not itself the problem.
But really, everything you see on the internet, all the motion graphics, all the advertisements, all the products at crate and barrel, television and movies etc. are actually DESIGNED by people with art, film, design and architecture degrees.
Art and design are a huge part of the US economy. In Great Britain art, design and cultural production is one of the largest sectors in their economy.
It is absolutely absurd when I hear people say it is a useless degree.
@@veil6666 how many singers dancers actors painters have arts degree?
None...
Graduated with a stem degree with 25K debt. Got a job making 60 grand after graduating. Paid it off within a year. I lived within my means and cut back on spending and done. Simple. If you're not going into business/stem/medical degree, dont get a degree. A lot of ppl nowadays I've noticed are getting a degree just for that 'college' experience. I wasnt in a frat (not paying 1 grand every sem as dues, fk that) and my free time when left after all assignemnts was working in restaurants and retail. My other friends ppartied instead. All about priorities
Most borrowers aren't complaining about paying for their loans. They are complaining about the compounding interest tacked on the original borrowed amount. By graduation their loan balance is triple+++ what they actually borrowed. It's called usury, and it should be criminal.
If her dream job is registering voters then why the f did she go to college?? Let alone texas A&M.
Her dream job is working at the BMV. LOL
College is necessary if you have a specialty medicine, law , science & engineering. If you going for these degrees we’re you just take classes and you really don’t do anything, it’s on you!!! There are two types of people who go to college those that leave with a career and those who took classes.
your an idiot, there are other careers besides that. education, the mental health field etc.
I got a degree in psychology, just a bachelor's, and I got out with a solid middle-class income job. Its definitely possible in other fields but requires forethought, planning, and long-term goals. (This is hard for a newly graduated 18 year old to plan for!)
Then again: I was also an older student.
Registering voters is not a real job, that is her first problem.
Kids need to be educated what debt is in elementary school. How to save money, how to have a bank account, etc. Borrowing to go to college is acceptable, as long as you have a long-term plan to pay back what you borrowed.
its common sense is it not? the problem isnt they dont know what debt is, its that they are under the impression that once they get a job they will be able to pay it all back.
who even goes to study if they gotta pay 100k?
These people make bad choices. Sorry but it's your own fault
JJ Everyone talks about the price of tuition. It was willing blindness.
The greater the risk, the greater the reward. Unfortunately you could be born at the wrong time in history or just experience bad luck such as a down economy when you get your degree.
Most people were manipulated into thinking it was safe to borrow money and go to college. College and student loans are a scam. The US economy will eventually crash if the debts aren’t forgiven. I don’t mind watching the us economy crash.
A. Citizen Sure colleges are a lot more expensive today than they were a few decades ago. However, she still made a terrible choice to attend Texas A&M knowing she needed to borrow a large amount of money. The amount of financial aid she was eligible for was listed clearly in the financial aid package before she made the choice to attend - there shouldn’t be any surprises. I don’t know what she majored in, but it appears to be a BA degree, so the earning potential really isn’t that high unless it’s one of the top 10 or 15 schools and she goes into a well paying field (at least for a few years to pay off the loan) like finance or consulting. That said, Texas A&M is still a very good school, especially in Texas, so I think she will be fine finding decent paying jobs in the future.
I can speak from experience as someone who graduated with significant student loan debt in 2008 (about the same amount as the girl in the story) at the beginning of the recession and it will suffocate you. I struggled to find a job and took a less than stellar position to simply have a paycheck and benefits. But then I started hustling. I didn’t shop. I didn’t go on vacation. I worked a second job waiting tables. My husband and I got married and had babies after 2010. We bought a house. The trick is this: buckle down and work hard. Put as much toward the debt as you can. Don’t be too good for any job. 11 years later I’ve paid them off. No windfall or lottery winning or distant uncle left me his fortune. I just did it. You can too. 53k sounds like a lot but if your working hard and being smart you can get them paid in 5-10 years.
I graduated with $70K in student loan debt...made sacrifices (moved in with parents, devoted full paychecks to paying loans back, and didn't spend money on things I didn't need) to pay them off in less than 4 years making less than $50K per year. Its feasible - if you are financially responsible and think long-term...
Quit giving away athletic scholarships and learn to get your hands dirty. Learn to weld, be a auto/truck technician, plumber or electrician. 4 year college students don't know what they're signing up for.... Classic case of not asking what something will cost you, but buying a "payment". *NOPE* let's not reward poor decisions and bad behavior....
Yup it's a waste of time
That's what I'm doing.
I agree. I make 80k a year as an automation technician. Went to community college for electronics and electrical technology.
It is very unfortunate that these people were forced to get these student loans at gunpoint.
LOL!!
were they coerced into taking the loan? just curiouse
Interesting, I studied Mechanical Engineering, and NONE of my colleagues in the major can relate to this!
When I went to school, kids were allowed to work 1/2 the day, learning a trade, helping their families out, and getting wisdom about the world, jobs, and the need for college...if any. I just wish a lot of these nice kids, facing a crisis, had had that opportunity...
I took math in high school and community college, somehow I think these kids didn't pay attention in that class. When I looked at the earning power vs debt potential in my area of interest, I decided it was a bad deal and didn't take it. I work in a trade field now making $50,000 a year, and I don't owe anybody anything. Debt forgiveness can not be the answer. You will sow the seeds of deceit and greed into our society.
When they spend student loan money on a spring break trip to Cancun with their friends - you wonder what they are thinking. The kids that end up with over $100,000 for a degree in social work are the ones who are in deep do-do. We need to STOP pushing college unless the degree is doable at a community college. My daughter got hers there - she does X-rays & CT scans at the Children’s Hospital & loves her job. Surgeons ask for her because she is so competent. I had to have a B.S. degree for my job (medical device sales) - but I make a six figure plus income so it paid off from the beginning of my career.
its crazy how they let kids take out that much to finance a education. They dont have the life experience to understand the risks with borrowing.
17,000 in school loans, working as a waitress, can’t find a good job with my BS.
Her B.S. was all B.S.
your own fault
phil b nursing school sucks and nursing sucks in general
Get yoself a job and pay it off!!!
The fact that people feel they need college to get a job is an indictment on how bad public K-12 schools are in this country. How can you spend 13 years in these institutions and have no marketable skills?
Idiodyssey87 Marketing yourself
Why go to college to study for a field that doesn't pay enough to pay off your college debt? It seems a lot of Americans just go to college because that's what your are supposed to do. 🤔
yeah, that's what an entire generation of young people were told to do.
Because pretty much everyone was scammed into borrowing money to go to college.
Serve your country, and earn free college...$0 debt for my degree!
$53K for a BA??? No wonder she can't pay off her debts after college
Thats actually pretty cheap compared to most schools
Educated ain't the same as SMART.
So thankful that I did engineering and started making >100k a year right out of college.
TheReelReal what type of engineering did you major in?
terriblelottery fr
@@terriblelottery Software engineering did the trick for me.
Debt for diploma is a scam.
Stop the student loan program all together
Are we supposed to feel bad for these people?
I have student loan debt. I wish I would have thought of the repercussions when I accepted my student loans. The people in the financial aid office encourage you to accept the loans, giving you reason why, saying it's a good decision because it pays for itself really after you graduate. I am burdened by these loans everyday, it's depressing really.
How much? My student loans will be forgiven in 16 years thanks to student loan forgiveness. Don't be depressed. Student debt is the norm now
Yeah those SOBs got me too. I reported them to the dept of education but nothing was done. These schools get millions in scholarships but they they prefer to keep it and tell students to get loans instead
Massive SL debt will ruin your life. You will never own a home, never have children, and suitable marriage mates will reject bc of your massive debt. Better to have done a stint in prison. You will pay for life for a mistake you made when you were 16 yo to 24 yo.
For many, sui cide will be the only way out.
I'm a 52 yo Gen Xer, I know from experience, I graduated with my masters in 1996 and was immediately in the hole $70K. It's now ballooned to $130K (interest).
I’m a college student, blessed to come out debt free, a lot of people I see with debt have majors that have won’t get them jobs like gender studies and stuff like that. You need to get a major that will give u a good return on the risk of going to college
DON'T... I REPEAT... DON'T BORROW HUGE LOANS FOR USELESS DEGREES.
That's the most sensible thing to do.
I got a job that pays 18 a hour. Without going to college
I am guessing it must be security. Yeah, i have a friend who is 20 at a community college and he does security, though he started off at 16. Then, I have another one 22 at a state university who told me he started off at 20, but with a promotion, he gets 29 per hour.
Be sure to save 40% of your income. Your problem will be when you lose your $18/hr. job.
dane w that’s not a good paying job. It’s concerning.
Yeah, it is tough. Just thinking about it gives me stress
A C ... I know Biology majors who make $15/hr out of college. I’d say $18/hr isn’t horrible to start. With the available OT I was able to make $55k @ $18/hr base. So it all depends on what you choose to do. The fact that I had and still have no college degree and make as much as a starting engineer tells me that drive will take you a long way in certain industries.
Instead of borrowing money for college, go to a college you can afford. Or serve in the military for four years. They will help you save. Don't borrow if you cannot pay it back. They need to learn this in high school or in the home. What are they learning? Stop letting foreign students in our universities and prices will have to come down. Federal government can cap tuition. But the bottom line is you made the debt you pay it off. That is how the real world works.
How can these kids be smart enough to get thru school..but not know how math works
The only logical answer is their instruction has been sub-par, and they really AREN'T that smart. Bottom line: we need more male teachers, i think.
@LegoGuy87 That's what I said.
I’m 22 years old and about to finish community college with an associates of science. I paid for school myself. Because I make too much for fafsa. Which is firm, it was honestly easy to do. I was going to go to a four year but knew I’d needed loans, I researched a ton and I’ve decided nope! I’m gonna stick with my two year degree. Not worth the debt. Especially considering I already make $42k a year at a job I’ve worked since graduating high school and yeah it’s boring but it pays so well and I have great benefits! It’s the type of job I know will look good on future resumes if my growth at this company stops. It’s funny because I make more than most of my friends with college degrees, and they also have loan payments. So even if they make more than me in a few years, we’ll be living the same because they’ll be paying those damn loans every month.
It’s a joke! You don’t need a degree to be successful. Find a trade OR just really apply yourself in office settings and learn specific fields. I’m involved in logistical management and I know I can keep growing this way. Most of my coworkers making upwards of $100k a year don’t have degrees.
you’re an idiot. trades aren’t for everyone and just because you make that where you are at doesn’t mean everyone else will. college degrees open doors
More spoiled brats. Be accountable for your actions.
They " Borrowed " it , pay it back !
That is an absurd amount of money for any kid to pay for schooling.
You knew what you signed up for. If you don't like it, don't borrow money@@dulynoted2427
i paid back 20k feels good to not be a burden to taxpayers like these kids who will default, but if the next president forgives loans ill admit i made a huge mistake
The issue is compoinding interest that literally makes it feel impossible to make any headway on those dam loans
Ife Awosika pay off as much as possible during the grace period
Ya'll need Dave Ramsey, get on that rice and beans.
They NEED to go to Dave Ramsey BEFORE they ever attend college. These college 'graduates' don't seem to be intelligent enough to know what 'asset' and 'liability' are.
The Sage's Apprentice you’re an idiot
Her dream job was registering voters in Colorado. She went to Texas A&M and got a Bachelor of Arts in liberal arts. Then she wanted to get married, buy a house, and start a family. Not a good plan. Not a good plan.
I graduated a year ago and I am paid up on student loans for the next 2 years already. It all depends on which field you get your degree in. I got one in a field where demand for employment far outreaches the supply of potential workers, and I got a pretty decent starting salary because of that
Arrhenius Which major?
@@janethockey9070 Materials Science and Engineering
College is a scam. I don't have a degree and I make really good amount of money :)
xander Rivas write a book
@@malissafarrish okay
What field?
What I mean is that more people need to know it’s possible. Your story could empower someone.
What field
College itself is NOT a scam - I'm so tired of hearing this. Much of the problem comes from students taking out loans to attend private colleges - that's akin to financing a Bentley. If you have to finance it and pay interest, you CAN'T afford it. Students need to be humble and attend the schools that are within financial reach, like community colleges and state universities, or work super-hard and win a scholarship to an elite school. And of course, if possible, live at home to avoid paying rent/dormitory fees. Yes, college tuition has gone up dramatically, but there are ways to get value out of a college education without getting enslaved by massive debt. I graduated from a top-tier public university after transferring from a community college with ZERO debt. My husband served in the Army and used his tuition assistance to graduate with a BS with ZERO debt. My two sisters-in-law went to a no-tuition college (Berea) and will too, graduate with ZERO debt. It CAN be done.
@@ALCAN52 I think it can easily go either way - your move was certainly wise, especially considering the SS and savings aspects. You must have saved like crazy and invested well. My husband and I are also on our way toward early retirement with a million net worth by early 50's (while raising 3 kids and supporting my mother), so we're not doing too shabby. And we certainly enjoyed the years in college learning different things we wouldn't have even considered otherwise. I certainly needed my degree for my career in higher ed administration, so college was the right path for me. I think there are smart ways to do either way - college or no college.
ContainedFire I did community college, went to private though to live at home so it would have came out the same as living in a cramped dorm 2 hours away for 10 grand a year. I paid off my loans in just one year including a masters. 26 debt free grad school diploma. missing the great job but side hussles getting me through now.
It’s a scam because kids aren’t being taught, by their teachers or their parents, how to use it properly.
It’s a scam, you corporate shill.
I didnt attend college and was still able to land a great job. Im so thankful that I didnt cave to the pressure of going to a four year college. People called me a slacker for it.
Totally understand!!!
They will attack you for not going!
That's the loan she accepted. Now she acts like it's not fair. You're an adult, take responsibility of your finances.
Didn't research the career pay after graduation went into debt and now you're the victim? And we should bail you out? I paid for school myself do I get reimbursed too?
"The only way to get a job is to go to college." Say that to a former classmate of mine who got a welding job 2 months after graduating from a trade school with, guess what, NO DEBT.
I got my masters degree in the GI Bill now I am in trade school for welding
Welders make a good wage too. Because it's a real skill. Imagine paying these tuition prices to learn "culture studies"
2/3 of people who hate student debt are women
More women are going to college and earning degrees than men
Men are turning away from going to college while women are rushing to go to college
Coincidence...? (I think not!)
Congratulations you played yourself..🤦♂️
Did I miss the part where these college students were forced to take the loan?
iDIMi yeah right after the part that mentioned that companys now want doctorates for thiere janitors
eliminate the federal guarantee.
Or just fund them like they used to be
End the government- college- banking complex.
I have 5 kids. They all went to college. One got her doctorate; none of them are in debt and neither are we..... You figure😒
I have pay off each semester as I go, never had to take out a loan and I graduate in Fall.
You wanted something, you took out a loan to get it and now you have to pay it back. What's the problem? Buyer's remorse? OK. How is that any different from someone racking up 10's of thousands of dollars on their credit card and then crying about all their debt? Sick of these people whining about their student loan debt.
I went to college for a half semester. I never went back. I have no student debt. My car is paid off. I own my own house. I work for a company. I believe in the 10/20/30 rule. I pay myself first. I am 35 and good with money.
I hear Dave Ramsey saying WELL THATS STUPID! LOL
I’m 28 and I have $40k in debt. Recently married and because were married it now shows us having “more income” which means the government takes more money for our loans when really we have almost $100k in student loan debt together. We can’t even get a house with this kind of debt. It’s the biggest stressor for us. It worries me to think we will never be able to pay them off.
Johnny Tramain well that’s not accurate. Even with every single monthly payment you can’t even cover the costs of the interest alone. Pretty much giving the loan companies free money that doesn’t even go towards our debt. There were many discussions had on our finances before our wedding. Didn’t take on any debt for our wedding and have all debt paid for except the student loans and car notes. We’ve sat down and tried to tackle how to get rid of student loans before we retire. If you’ve never had a student loan you wouldn’t really know the types of issues that come with them and what they don’t tell you prior to college. A lot of people start with student loans while still under their parents. My parents knew nothing about them and just assumed right out of college I would have this amazing paying job. Nope. That didn’t happen for about 4 years AFTER college. College didn’t even get me where I’m at today. If I knew back then what I know now, guess what? I wouldn’t have gone to college.
After the Air Force, I worked full time supporting myself, and went to Community College 4 nights a week, year around for 3 years. I got my AA/AS degree. My pay went from $8 per hour to $22 per hour.. NEARLY TRIPLED MY PAY on a Community College degree, >>> ZERO DEBT
I'm glad I paid cash to go to community college...
Abolish the interest!