Everyone does that though. Many high schools even offer gifted , motivated students the opportunity to attend community college part of the day while in high school. They graduate high school with an A.A. degree and enter university as juniors. Trade schools are costly as well. Yes, lots of boomers are retiring leaving some openings in the trades. The wage stagnation is REAL. The system is so against doing anything to benefit the majority of the people.

@KZfaq Censors yeah and trade school prices are free or subsides is some states and the price tends to be more worth it than a degree because no ones wants to work in trades so it’s easier to get a job and now you can barely get a job with a degree unless you have a masters in some cases

Same. Some community colleges are damn good, too. Mine was awesome.

@@JuanGarcia-dj2tt Sometimes employers will even pay for it. There are lots of options. My associates cost me a whopping 3k. Anyone can do that.

@KZfaq Censors Absolutely! And college just isn't for everyone but people act like it is. Unless you're going for something that can actually pay for those loans (there's little realism in people's heads here, too - no, Stacy, you're not going to get a great job with your history degree. You'll just have to keep going so you can eventually teach others and that's about the best you can hope for 🙄) you might as well not go. Half my class got kicked out for plagiarism. In their stupid message board responses. They shouldn't have been there in the first place. This was a pre-law program. 😆

This country is about GREED

Because universities know that the government will loan whatever amount of student loans therefore they can rack up the price to whatever they want.

Not just that but throw in a direct guarantee that what you are currently learning will get you job that same time you're learning the necessary skills and have a law requiring businesses to hire because of this. The way it is now, it doesn't work at all.

It’s a racquet

You got that right.

It’s also a lot of the administrators who keep costs up. At my school the administrator to faculty ratio is 4:1. All administrations make 200,000 or more a year as well

@KZfaq Censors we had an administrator at my school that makes more than the president of the US a year

@KZfaq Censors for the level of work they do based on faculty. It’s because they are the ones in position to negotiate pay with the state and other administrators. Having a ruling position helps

@KZfaq Censors you have to remember this is the state’s money. I went to a state university. I’m not sure how administrators to faculty get paid in private colleges but I know the admin to faculty ratio and the pay have been brought up by California legislators

@KZfaq Censors good for you

Yeah all 4 out of 5 of my engineering professors right now are foreign. The one white American guy is like falling asleep in the chair old!

Facts. I know one person in particular that would be and amazing engineer, architect, mechanic, contractor or even a physicist. But he is the best handy man I have ever known. I hope he comes up with an amazing patent or something so he can make what he is worth.

@@Love1nOther he can already make what he’s worth if he specializes in something exotic like ammonia refrigeration.

Not sure. If they are brilliant enough, they’ll find a way to shine

@@vvolfbelorven7084 lol don't be sure. Companies go out of there way to steal good ideas from workers.

French society only heads to uni for maybe 3 years and leaves with a degree.

I think in the UK, degrees are done in 3 years.

Its a corruption the longer you stay the more they get. Whats crazy thet got the government to back the loan. Talk about a scam.

That’s why I’m saying. You can graduate from uni in 2 years

Not 1-2 semesters, it is 2 years

In my opinion and from my perspective, college is a capitalist notion. It does not make you a better morally or psychologically. It makes you more effective as a worker-either for yourself or for someone or something else; similar to the notion of a horse to a farmer in the goal of yielding a good crop. Another element of being effective is building professional networks. A college graduate with average grades needs a professional network to market their talents. A college graduate with superior grades maybe sought out by companies-like an athlete. In both cases, being professionally attractive is critical to effectiveness in the pursuit of a suitable job. Most of us don’t quite have it together as a package. Universally, we might be talented but not socially astute. As much as we are talented, we must also be socially confident and talented. So many folk are able to massage their way into social groups and work their way up the ladder of success without any real talent or skill, no more than what they learn along the way. However, when times get tough, the weak fail to perform- resulting in a toxic effect on any one associated. Like a basket of apples, one bad apple can spoil the bunch. As I escape from the rabbit hole of thought on the topic-the quality of education is what might be the point here. The quality of education has declined as a whole. Historically, having a college degree upgraded you socially, economically, professionally and culturally. Now, it only guarantees a bill to pay in the future. On the topic of college loan repayment, you determine your rate of return. How you live your personal life mimics how you govern your professional life. The decline in one aspect often is reflected in the other. Some people want thecake and eat it too. If you borrow the money, you must pay it back. You may have to sacrifice on some level in terms of your lifestyle but if it means driving a new car verses a used car, you make that sacrifice the day you initiate the loan. There are many financial tools that if you apply them, you can ease the burden like extra payments are to a mortgage. In closing my thoughts, regardless we have to take responsibility for our financial health. It is difficult. The marketing monkey is a King Kong of foes but at the end of the day, they banks want your money as bad as you might want that fancy car or that awesome job. We can’t become victims of impulsive spending. As a communications grad-marketing to the consumer is a science. Companies invest big dollars into understanding human behavior just to have the upper hand. Once we as citizens accept and operate in the enlightenment, we can travail the opposing foe no matter the mask presented. I am not a conspiracist, just a realist with a deep appreciation of the power of human nature. The key to understanding the world is understanding ourselves.

Or is it the student at fault for choosing the wrong product, not researching job market, not being proactive, or not having a goal. Are people going to college not prepared to become adults borrowing money for the first time, and would paying their debt not teach them anything about finances and borrowing money. This is not teaching anyone to make better choices, and not solving the next generation that will do this again.

@@wassupnetwork5058 I enjoyed reading your comment more than most of the books I have read. Very well articulated!!!

The problem is most colleges don't prepare you for work, they prepare you to go up the university funnel from bachelors to masters to phd, that's their main objective. Why do you think that so many people who have degrees have almost no idea how to do jobs that pertain to those degrees?

😀

You made a very wise decision! Good luck to you and your business Pradyumn!

Yes wise decision

Great job sir

Unless you are physician, mathematician engineer, accountant, physicist, biologist or geologist master degree don't mean much in the field

You have a brain. You will only receive profits from now on. good luck.

It is no joke, the interest alone is killing the kids with stupid student loans. They are on the hook maybe for 30 years or more. Student loans are not designed to pay off. It for the rich investment and investors to drain money for out of the children before they can get started in life they are on the hook and if they don’t pay they will mess up their credit

It's legitimately cruel and predatory. Whether people believe in student loan forgiveness or not, I think just about everyone can agree that the interest rates are out of control.

There are going to be a lot of people on the income driven plan who’s balance actually grows.

@@hermanrogers1325 what’s interesting is the income driven repayment plans right now say they will forgive in 20-years. The problem I foresee if the program lasts that long is the income tax consequences individuals will face when they have a massive loan forgiven.

Unfortunately, this is all too common. I have been paying on my loans for 10 years and I owe more now than when I started. If any other loans (car, mortgage) worked this way, they public would be outraged and the government would be stepping in quite quickly.

Well if you look at her home she's definitely not on the bottom in living standards. Sacrifice yields results, excuses keep the hamster wheel of pity turning.

😂

@@marksasoldier i mean....lets be honest shes not trying to pay that off. Just make those minimum payments.

Literally I feel like i might have a chance of paying it back if it weren't for the daily interest.

@@kamilareeder1493 I'm working on it! I wiped off 1; 2 more to go! Do what you can until October. Stay focused friend.

@@steelfist9994 good job :) !!!

I wonder why more ppl don’t talk about it. I think cutting the Inretest rate and maybe a partial debt forgiveness would be enough

@@theengineered1949 heck I'd be satisfied if they did zero interest for Biden's term. It would force people to come up with a plan to get out of debt

It is not expensive, I went to community college and then cheap state school. Atop lying to people, just be uase u went to super expensive private school and can't pay loans now, its ur fault

I went to a state university in the late 90's and got multiple advanced degrees. I worked two jobs while grants and scholarships took care of the rest. I graduated debt-free. This is about fiscal responsibility and common sense. If you don't have either, good luck in your future.

Education is expensive to keep out the undesirables.

I don't regret my degree. Ive always wanted to get my degree and master my craft, but I don't think its fair that they basically make you take out a mortgage at 18 years old 👎👎👎 I dont think education is a scam, but it IS WAY TOO EXPENSIVE for what you get nowadays

@@edgehodl4832 No, we all were forced at gunpoint

boo hoo. lotta people sacrificed more than that to get a degree. i don't feel one bit of sympathy. some of us slept in cars and skipped meals to pay for school.

@@laturista1000 This isn't a competition, and your comment was unnecessary. Clearly you didn't learn how to be a functioning adult in college.

@@laturista1000 Someone always has it tougher, that doesn't mean their experiences shouldn't be validated. As already stated, you did not learn how to be a functioning adult in college if you cannot realize how ignorant you sound.

I'll give you hope assuming you're young. I'm 61 and have 19 years until forgiveness. I will never experience life without debt and most likely will die with it. Keep moving forward and someday you will be debt free.

@@TippyPuddles Not only one. My grad loans were $75k when I first got them. Now, they are $300k+. $2500/month in interest. I gave up and just quit paying. Advising others to do same. I'm 51, and I am just gonna quit paying. Not worth paying that much per month. By the way, how much debt do you have and interest rates?

If people did actual research and educated themselves for jobs that are available then they could pay back their loans. Degrees in music, liberal arts, and other hobbies are a waste of money. Just having a degree doesn't guarantee a job, having the right degree does and you have to be willing to move if necessary.

There was *never* any guarantee of "if you get X degree, you will get a job in Y". Never existed, not even in the 70s, 80s, or 90s. College gives you (1) an education, (2) access to resources & networking, (3) the ability/agility to navigate the ups & downs of the job market, come what may. Ideally you go for as broad a wealth of experiences & education as possible (liberal arts + some technical + internships/jobs), so that when you emerge you have a lot of practical skills & multi-domain knowledge to prepare you for whatever jobs/careers you seek/find. But nothing is guaranteed in this life - anyone who believes differently is just naive.

Certain degrees did guarantee employment.

A high school diploma and an honorable discharge from the military doesn’t guarantee you a good paying job! At least with a college degree, you have a better chance not to be replaced by insourcing labor

@@mssha1980 there is no guarantee unless your employer is paying for it

Sorry but Engineering should definitely be 4 years imo...

Agreed !

​@@vlydenknox Oh trust me they'll figure a way to stretch it out into a 5-6 year degree for ya by requiring you to take psychology & history classes or a communication class that has nothing to do with communication let alone your major. they call it "general education" or what I would like to call it bs time & money wasting garbage that we have already went through in high school consecutively for over a decade and have forgotten. Plus Keep in mind more than half the math they will teach you under their "requirement" will have nothing to do with you actual job as an engineer.

The problem is not with "pointless majors". What kind of society would we have without writers, artists, thinkers, etc.? The problem is that the cost of education and interest rates have gone through the roof. A couple of decades ago, it's unheard of that interest is above 4-5%, now people are paying alot more, which makes it impossible to pay off their principals.

No the problem is two fold. 1 the constant conditioning of the education system that instills the belief that college is required when it’s not. Guidance counselors consistently push the option of college when it’s not the only one. There are other options such as trades that people can go to develop skills and find work. College is not for everyone nor should it be. 2. The government’s involvement in the student loan process. Because Universities know that the government will pay anything they inflate their prices.

Seems like the interest is the biggest part. If they want to loan, the government should just make 0%APR. this seems to be the fairest solution.

"the problem is the tuition rate and interest" ACTUALLY, the problem is people who KNOW they can't pay the money back applying for loans ANYWAY. College has never been a guarantee of or a requirement for success.

@@shaitanlavey that’s not true and that’s not what they have told us for years. They always told us that college is the key to success. That’s why so many people go

@@shaitanlavey It's called being optimistic, sometimes naive but the other option probably just roll over and die.

@@mssha1980 "that’s not true" Not one word of what I said is untrue. "They always told us that college is the key to success" Mark Zuckerberg is worth over $105 billion and is a college DROPOUT. Maybe you should have paid more attention to the world around you instead of listening to those folks who lied to you. "That’s why so many people go" People go to college because they are ignorant to how the real world works. If you aren't going to be a surgeon or rocket engineer, the only reason to be in college is STATUS. A degree in liberal arts isn't going to get you a job OR pay back the loan.

I think as early as 12

There are broke doctors too. Lots of debt coming out of medical school. I'm not a doctor but i did have student loans. Due to interest I paid more than twice what I borrowed. I only paid them off last January. Took 17 years and I only paid it off due to some luck. Otherwise I'd still be paying. No reason for this interest. Should be amount borrowed and a reasonable service fee only. My daughter graduates hs in June. I am hoping we don't need to get loans for her.

I wanted to go to college for a particular subject all my life. And im glad I did, and my education isn't worthless so far. But I totally agree 👀👀 like I feel like id have a chance of paying it back without all the interest. Its the worst part because you're paying more than the education was worth in the first place 🙃🙃🙃

I agree with this. I've seen some insane interest amounts. It's wicked.

@@kamilareeder1493 agreed. I thankfully went into the career my degree was earned for. So the preparation for my career is appreciated but perpetual debt, no thank you.

@@emcanet yeah its like saying that you need to take out a damn mortgage at 18 😂😂😭

And student loan debt is a gun that is damaged and occasionally shoots backward.

Your gun in the case of student loans is a Winchester Widowmaker

You don't need college to get a good job.

The tuition went up as soon as the government started guaranteeing the loans. Whenever the government is on the hook for a bill, people jack up the price.

Nobody will do that the masses are to docile and simple they will keep going and complaining

@@celestialarmor695, that's what the schools are planning and that's why tuition continues to go up. Everyone is brainwashed into thinking the only way to succeed is to bury yourself in student loans. What angers me is people bury themselves in debt but then try to blame the rich for their mess.

@@Josh-vv9sz They also made student loan debt almost virtually impossible to discharge, in bankruptcy or even death (they take it from your estate.) The government gave them that GIFT, no other debt is like that.

I want to get my Master’s SO bad because my Bachelor’s in my field doesn’t pay at all, but I have no idea how I will pay for the loans if I decide to go further. I don’t even know how I’m going to pay for the loans I have already with what jobs are offering in my field, let alone survive. It’s not fair.

This, I decided not to go to Optometry or Dental school because I can not afford it. Maybe in the future.

I’m so thankful to be making 80k with my Associates.

I’m never going back to school

@Ron Gosling I know exactly what I wrote. I have a B.S. in Psychology. A Master’s in that field is not worthless, and there is a significant difference in pay and value when you have your Master’s (or higher) in Psychology. At least know what my degree is next time before making assumptions.

This!!!!!! The majority loans came from paying 8,000 for on campus housing and 3k for the food plan

@@courtney1427 That's really what's making up a lot of the loans. One way or another people need to live the issue is on campus with no income you have to finance your basic living expenses.

Yup those dorm prices are out of this world

Don’t live on campus and or move off campus

@@Eccentric-YURR i lived off campus and i still have a 70k Bill. So it’s obviously not that simple.

If you don't mind me asking, if your path took you where it did, why did your son rack up the cost of a small house when he's barely even been out in the working world?

@@Tigersfan829 Me and his mother are divorced and neither of them listen to my advice soooo. His mother filed bankruptcy so that explains how she is with money. He decided to go to one of the most expensive schools in NY when he got excepted in other less expensive schools. He could of went to a school that cost half the price but noooo he wanted to go to NY. Now he’s going to learn the hard way. Most likely I’ll end up helping him out some later in life but I want him to learn. His mother pays for all his groceries, rent and spending money. He’s 22 years old and had never worked. To be honest it really pisses me off

@@defender7624 if I were you I would also be mad as well like smh I feel bad

@@dawnbestgirl17yearsago98 Ty that was very kind. I battle with myself for being harsh wanting him to work to pay his own expenses, etc but he needs to chip in and not expect mom and dad to cover everything. One of many reasons me & his mom are divorced.

@John Doe That’s probably the best thing they could of ever done! My parents didn’t pay for my car and they wouldn’t of paid for college if I went.

Why did you choose the school that you chose?

Cope

Colleges say the exact same thing, even when they have billion dollar endowments

Look into the financial crisis of 2008. Comparing that to student loan debt is just another rationalizing tactic for people to stop taking responsibility for their choices.

Because society is greedy

Noone lied to u, smart people got engineering degree,s and u lied to urself thinking easy useless degree will get u high paying job. U put zero effort in college and thats why u are where u are.

@@edgehodl4832 My grandniece attended West Point and majored in Philosophy but she graduated with a CAREER lined up and paid while at school going for free. The Army deemed her degree important so am fine but what is it good for for any joe or jane to learn considering the cost?

Colleges are a business. More students = more money. More students taking out $15k-$50k a semester the government will blindly give you, and thereby give to the schools. Who cares if you fail out or if the degree never equals financial success? It doesn’t affect them.

@@clerickolter philosophy is a very useful degree. It's just not useful when the subsidized industries are oil and gas. Even the military industrial complex is almost entirely about oil and gas.

Yea, I had a professor that required us to buy the books he wrote....

Then live at home and go to college. Too many entitled teens think they deserve to live there. If you can't afford it then you don't deserve it.

@@kickeddog1 buy the book the teacher wrote and complete homework on the page in the book, tear it out and turn it in.

Yes, a trade school would fix that. Much less epensive too.

I had a chance to go into debt for college but it didn't feel right so I joined the army instead. Now I'm debt free about to get my mechanical engineering degree, getting paid to actually attend college. Best decision I ever made to not sign up for loans

It's very likely, fir the average person, that they'll make more money in their lifetime if they just stick with the trade. In your thirties and don't like working for someone else? At that point, if you've successfully apprenticed with someone, you're probably in a decent position to start working for yourself and build a business. Or not. Either way, not taking on the expense of college at all is a valid and sometimes very wise decision.

Where would society be if everybody pursued trades?

I worked as an aircraft mechanic making 26 an hour without benefits (pretty good for the field). I went to a massively overpriced school for it (~30k for 18 months). Paid off my loans (in large part due to my parents and grants, only had 6k to pay myself). People act like trades require no school or certification. Sure some are very cheap to do but others have the same predatory system where you pay 30k to make 30-50k for years. People like you trash talked university. Well now I'm in my 3rd year transferring from a CC and my entire 4 years will cost about 20-25k and I have more than that in investments/savings currently thanks to working as a mechanic and now a software engineer during school. TLDR DO NOT GO TO FOR-PROFIT SCHOOLS. In the vast majority of states a CC to uni track with pell grant gives you a 4 year degree for 20-30k and allows you to work over your breaks. That's really not that bad if your salary out of school is 50-60k+. I would say pick trades or pick STEM, or don't go to college. Plenty or artists out there making way more than I ever will but college for them is useless.

Absolutely!

I love your country too lol. I was privileged to visit a college friend in Saudi Arabia and its beautiful ? 👀 and people are really kind, and soooooo many women are doctors ?! Very eye opening to spend time there :) America is lacking

Lies

Does your country give citizenship to children born in Saudi Arabia of migrant workers?

@@cutthechicken194 No, they get the benefit of free education and free healthcare but no citizenship.

@@skys10 okay

Exactly.

Yes people understand that now but didnt 10-20 years ago

This was the trap my husband was pushed into with his first degree. He and he is youngest brother both have two degrees as they decided to go to nursing school after graduating as there are NOT many jobs that even care or require a degree, or pay more for one. It’s one thing to graduate with a specific degree for a specific line of work that you know will make good money starting out, but that’s not the case for most degrees. I made more in my job with a high school education than my husband could with a degree. We were so young and I know it was demoralizing for him as he was told “Go to collage”, but for what?

I almost made this same mistake. I almost took up an offer for college for a loan of $40k. I end up with only a GED and started from the bottom. But learning from my father for auto mechanic that has helped me gain the experience I needed. I am part of a generation(millennial) that take a lot of things for granted. I am saddened of my generation but at the same time grew up the old way of discipline and respect for elders. I prefer blue collar jobs as I love working with my hands such as car's, locomotive and now electrical. I have loved all of my past jobs as I always gained knowledge from the older generation that taught me and will always appreciate it. Because I know that blue collar jobs will always be the back bone of society. Now I just need to get into plumbing as I'm just learning electrical from a very knowledgeable guy.

Too bad this doesn't apply to professions in health care

Don't sign away your life for a longshot chance at a job?

The system needs to be reworked for top to bottom

I have a degree from one of the best universities in my state. I'm lucky if I can find a job paying more than $20 an hour. Low wages are the main thing. My college told me I would make $47k a year as a recent college grad. I've never made that 10 years out

@@grod805 There are Uber drivers that make $40k a year.

Agreed. I wanted to go to college from a young age and I dont feel entitled to a job and bebefits because of my degree. However I don't think its fair for your degree to cripple you financially for life 👎👎

Yeah, that's a little suspicious. I wonder what the financials were

Bought a new car. Got a house. Got married. Probably owns silly clothes.

Didn’t he drop out over cost ??

Brilliant!

Absolutely. Employers don't care about degrees, they want work experience. They start seeing you as over qualified. As a kid I thought a degree would opne doors for me. It never did.

Nursing? During a major nursing shortage? Y'all are definitely underpaid for what you do, but still, $300/mo shouldn't be that strenuous, especially with tax deductions. As for decreasing the debt, not gonna happen unless you're able to pay double the interest every month. Try calling your servicer and see if you can get some kind of forgiveness plan - being a nurse probably qualifies you for Public Service Loan Forgiveness.

@@mandisaw being a nurse does not qualify you for Public Service Loan Forgiveness unless you work for the government, which is unlikely.

@@melissak3621 in the video they showed you that most people are not getting forgiveness

You have to start paying more per month if you owe $50k. $300 isn't going to cut it. That's only $3600 per year so even if interest rate is cut to 0% permanently, you're looking at like 14 years to pay off $50k. If you're a nurse you should be making enough to pay more than $300. A lot more, especially because that's a field where you can usually boost your income quickly by working more hours. It sucks but if you dig deep you can get out from under this in a few years and permanently alter the trajectory of your life for the better.

@@melissak3621 Yup, like @Linda C. said, PSLF is for anyone in public or non-profit service fields. Most hospitals, as well as clinics, EMTs, home care / visiting nurse svces, etc certainly qualify.

This! Community college is the best value option for the first 2 years of post high school education. People can have more room to adjust their work/school balance. There is also no unit ceilings so you can explore more major to determine what you are good at. There also vets or people who have a gap in schooling to catch up again. The up side is just countless when it comes to CC, but people just fail to recognize it

Great advice. I am completing my Master's through my employer that offers tuition reimbursement.

Because let’s be real. 2 years living away on campus is way better than living with your parents going to community college

@@TheeSamuelNelson students want the college experience and when education should be the focus. The community college you went to isn’t printed on your university degree. I don’t want my tax dollars to cover someone that could have saved themselves thousands by going to the local college but chose not to.

You are so right, Claudia. I tried to make this point so many times in the comment sections of other KZfaq videos, but no one would listen. They all just want to be bailed out even though it was their choice to go to a fancier school and major in an economically worthless subject.

I'd also say that one issue that contributes to this problem is that the kids think they need to have the so-called 'college experience" because they were brainwashed to believe it is extremely desirable. Many aspects of the "college experience" can also be replicated by binge drinking at bars or living with roommates in your 20s. You don't need to go into massive amounts of debt for it.

When they go to college on campus, it won’t live up to the hype.

I have a Post doc in my lab who said yall got free school?

The government can access your account you can ask for proof how much you are owed and if they dont provide it then you can file a lawsuit

Call the department of Education. The only way your student loan defaults is when you don’t pay them, you don’t respond to payment request and you are not currently enrolled for six months or longer.

@@ET-ey2hc Yeah, defaults don't just happen instantaneously. And going on medical leave typically doesn't forgive your debt - if classes already started / tuition was charged, and you didn't pay back the loans, then you still owe that money.

It’s ovER

Absolutely criminal.

Maybe choosing a different route in life that doesn’t involve having to borrow money and paying what you chose to borrow just to get a piece of paper.

@@jaredmackey4511 that paper has already been successful for them. Regardless of the debt, it's still worth it.

@@conniealford1020 Do you feel that we put too much emphasis on secondary education? For me, having been through the military and am now in grad school, I get this feeling that I’m just there getting a paper that says I’ve paid my entry fee. Of course that’s not the whole case, but there’s no way getting an education will enhance the lives of every person imo. I think we push it too much and it places people in a position where they feel that’s the only way to live their lives. Looking back, I would’ve went with a trade and entered the work force.(too deep in now lol) Glad your boys are making use of their degrees and efforts.

@@conniealford1020 Well if that piece of paper has been successful for your sons they shouldn't have any problems paying off their student loans at all.

@mikedavison1466 they don't. What I'm complaining about is the debt one incurs at the beginning of their lives. Why not a grace period?? This way they can find a job, get their own place, possibly get married, gosh so many problems early in life. No room to breathe. A taxi driver could afford a nice house, raise a family on their salaries and live a good life not but 30-40 years ago!! Our parent's and grandparents. Now, rent is 2k, electric is outrages and don't start with me about food!! Young people just don't have those opportunities we once had. I'm in my 60's. I remember. Now, colleges are getting enriched on the backs of our kids. And the education is not a good with all these book bans!! WTF??? A place of learning taking away books. My university bills have been paid off years ago but was cheap bc the interest was practically nothing. It's not the same any more. How sad.

That will work unless you need a Master's or Doctorate for your field. Try telling someone who wants to be a Master's level Therapist to take two classes at a time. You'd be in school for a decade.

Or we could just provide tuition free college like a modern developed country.

This is Good advice

@@Dead_pixelz_ I wish that was the case, and have the student loans forgiven. I’d go back to school in a heartbeat.

It’s way harder if you want to become a veterinarian...

considered renouncing your American citizenship and moving?

European college degrees aren’t worth much in America.

Just curious were you aware of how much individuals with a Masters in Psychology make before you went to school for it?

There is two ways to become wealthy. One is by gaining more and the other is by needing less.

Why haven't you paid it off? Just making minimal payments up until today?

@@MrTmenzo you my friend doesn't understand interest... the reason why it's not being paid back is because student loans have compounding interest it doesn't stop so minimum payment aren't enough to make a dent because as soon as you pay it you owe more its a scam thats frustrating that also didn't pay off for millions of Americans.... on top of student loans most of us graduated in a Era with no jobs so you can't even take care of yourself while you go to school while owing money... the scammed a bunch of pre mature adults with hopes of creating a better life for themselves by pinning them in unbearable debt before they can even get a job

@@112jungle what lovely delusion... but it sounds good. Unfortunately that advise is unhelpful in this case.😧

@@aubreebey1 of course I do, I recently paid my loans off after a decade, once I realized making the minimum payments wasn't doing much I made the struggle to pay more than the minimum. Some folks don't have that luxury but if you budget there's always some room to play with.

If they just got rid of the interests that would make a world of difference. You could actually see progress when you're paying your loans off.

@@gmk91005 Agreed and thank you for stating the obvious that no one seems to get. Likewise, lenders not charging interest make zero money... where's the incentive for them to give out the loans in the first place?

Crystelle Marie Photography You don't need a degree to be a photographer.

@@shaitanlavey you do to be a RN. While I don’t have a collage degree, my husband has two. Before Obama took office, it was nearly impossible to find decent student loans for someone who already had a collage degree. He graduated with an English degree, but could only find minimum wage jobs, which was about $7.50 or so back in 2004, and was less than I made. We did work to pay off the highest interest private loans, but it’ll be another two decades before we can pay off the rest. We used to park outside a coffee shop in order to have WiFi and lived in the crappiest part of town for cheap rent. We were well below the poverty line, but it never occurred to us to get on any kind of assistance so used loans to get by. We’ve come a long way, but it still feels like an insurmountable burden.

@@gmk91005 it’s reported on your credit so your statement is completely illogical.

That’s amazing he did that. Adaptation is part of survival, and creating value in this economy. It should not be an indirect punishment. Prayers up to both of you.

So it’s, retraining and with a little leftover versus, no retraining and no income. You may argue that the choice made you, rather than you making the choice, but this also proves the importance and also the lack thereof of financial planning. It’s unfortunate that your husband had to undergo that transition, but I believe that its what was necessary for survival. And he has my respect for doing what’s necessary for putting food on the table. My prayers go out to you and your family and hope that things turn for the better, however, personally I feel that the debt forgiveness of should not be one of them, due to the overall impact that it would pose and the situation of future generations would be severely jeopardised.

Why should taxpayers pay your husband's debt? My sister didn't go to college and she is a high exec and works for the government! My son never went to college and he's 25 owns his own home making 80k a year.

@@rynnykitty6945 Sounds like you hit a lottery with your kids. 1 in a zillion. Count your blessings Bec most won't even make it there! Our tax dollars are used so unwisely . No one fought went tuition fees went up same year as in England. They stood up. We didn't. We have Bail out for Banks, Cars, Airlines . All big huge companies but not the citizens ?

I'd rather not pay off your financial choice.

Colleges already does that

That's all sweet and nice until medical bills and high cost of living prevent you from saving even a dime. I'm a Registered Nurse with a bachelor's.

@@moriahgonzales4054 Nurses should be eligible for loan forgiveness, either due to low household income (if underpaid), or as public workers. Call up your loan servicer and see what they can do for you.

Right there with you buddy. I got what my family affectionately called a "million-dollar white boy education" from an elite school for only about $28K all told, and no credit card debt - worked part-time through college. Now many years later, I'm getting my [second] Masters on my employer's dime, and hopefully working towards public service loan forgiveness (Biden might make it happen even faster). You have to be smart about college, smart about money, and run the numbers to make it work - but it does work.

It's divide n conquer strategy

True , but the tax credits are often of lower value (I think 1000 or 1500 dollars) The student loans on the other hand are more expensive. It's like saying hey if they are giving free water , why cant they give free wine . Moreover most students will earn more in their lifetimes vs non college goers . Also if it wasnt for these loans a lot of students won't be able to go to college . You are basically paying for the opportunity of a better life. With child tax credits you get nothing extra

@@johnsamuel1999 The child tax credit was recently increased to around $3600 per child and the age limit was also increased - expanding the amount of people eligible. Also, those with student loans AND college degrees are essentially being double taxed through higher wage tax brackets and ridiculous interest rates on student loans. Tell me again how those with student loans are “paying for a better life”...?

@@Omidan Most students and their parents wouldn't be able to afford college. The loans give them an opportunity to attend it and improve their life. But ofcourse life is full of risk. You have to choose a good university, a good field with easy entry for recent graduates and decent starting pay . For example let's say you borrow money to start a business, there is a chance that you will go bankrupt.buy you get a chance to own a profitable business. Life is full of risk . Also the interest rate could definitely be lower. However you need to know why it's so high. If you borrow money for a home , the bank can take the home if you fail to pay . Because of this the interest is lower since the risk is lower. But in the case of student loans there is no assets given as collateral hence the higher interest. Also statistics dont lie, college graduate earn far more than normal graduates throughout their life. More earning means a higher quality of life

@@Omidan also if you take a loan its you're responsibility to pay it back. Just like a mortgage, car loan , medical loan, phone emi etc

Yeah, a CPA is a guaranteed-profession, that can work at any level from HR Block to corporate clients. I feel like more students need financial literacy courses from the get-go, so they don't make dumb decisions like that.

Yup! I went to cc first and then transferred to an in-state school. Graduated with a little over $11k in student loans.

@@ajh.4131 Awesome! Kudos to you.

No, this is actually a very interesting reality. I feel the same way but the fact is it provides a false sense of reality. No one teaches us financial literacy and we just assume because our parents got by that we would obviously do even better, right? Parents just hid the bad stuff and made irresponsible decisions while not teaching their kids the importance of a dollar. I could be wrong, but I feel very strongly about this.

Create generational wealth or your kids inevitably become part of the rat race. Look into annuities, trusts, and life insurance policies. They can be paid into overtime while providing financial security to jumpstart your child's future. You dont need to be rich, just smart.

@@erikadelgado206 My whole point was this guy starts out as a spoiled brat getting everything handed to him. Generational wealth will not do anything if you're kids don't know the value of a dollar. I teach my kids by not giving them allowance. They can do jobs around the house for set amount of money if there is something they want to buy. Cleaning out/washing the car, weeding the garden, mowing the grass, cleaning the windows etc. They're too young for a real job but this instills work habits. No free rides in life.

Your fault, not mine. This has been going on for years. High prices, high interest yet children contiinue to fall for it. Your bill, you pay.

@@laurens.2503 no one says it’s your fault 🤔

@@patgnz3690 Then why do college children want tax payers to pay for their college? Why don't they fight the problem where the problem starts. Stop signing up for college. Force them to come down with their prices and interest. Until they do that, don't go. Go to a tech school. If it is not the tax payers fault stop begging for the tax payers to pay.

I’m not saying tax payers should pay for this crap. I’m just stating that it is possible to pay it off ourselves 🤷🏽‍♂️ period!

Use your savings to pay off the debt and then build up your savings again 3-6 months. When that is done contribute 15% to retirement.

Thank you. It took me 7 years to get my degree because I worked my way through college, chose to commute and never had the ‘college experience’ that everybody talks of. Additionally I went to a lesser college than I could have because I chose based on price. Graduated with no loans/no debt.

Or people who don't have a college degree. Will they get it for free if they want to? Or forgiving $50,000 student loan debt for someone who has a career with the earning potential of $80,000/year or more. Is that really fair? Not it's not

@@dappyfull all good points. Even on top of that where do they live? Say they get paid more then 80k they don't get it. But what if they live somewhere that pays less? For $50k people might move or live somewhere that pays less. Get it forgiven then just move somewhere higher income and make 80k+.

K-12 is free. Community college is cheap. Public universities are subsidized. It is socialized. You have people who have false income from loans and act traumatized when they have to pay it back. You have the stigma of trade schools. Electricians, plumbers and truck drivers make more than teachers but teachers still push college degrees

Exactly.

It would take me 20 years of doing what you just mentioned in order to pay my student loans. I'm willing to sacrifice but not give up my hopes and dreams just to live poor to help someone else get rich.

@@jessicabowie1477 What was your major, and what do you do now?

My major is in Communications & Media Arts and I am not unemployed because of the pandemic but before that I worked at a movie theater for 5 years

It’s not no debt. You still have to pay for trade school. Just a little less debt...

@@Pcarnevaaa Daughter did 2 years had scholarships and got paid more than she paid. Transferred into UC Santa Barbara and now has only 2 years of tuition to pay instead of 4 she will get out with ZERO debt

if everyone did that lie you suggest nothing would ever get done we need nurses doctors and engineers if no one is in those field because they are all plumbers nothing will get done

@@sadeness Nurses and doctors have no reason not to pay back their loans when their salaries start at 6 figures. Also we should forgive debt for any professional who agrees to work in public service for 10 years.

They don’t need to live close. Education is virtual.

@@soonahero yes but for how long? And this fact hasn't done anything for the cost.

exactly these morons that are against student loan debt relief or even a 0 % interest are sad because they think because suffered everybody else should.

So... I am making a huge point... crypto right now is halved.... you dont pay capital gains under 40k per year.... why not work part time and invest money while in school...... Also nothing says if your poor instead of buying Jordan's you cant invest...

Yes, the "income based repayment" plans allow you to self-inflict that kind of wound. If you stayed on the standard repayment plan, you would be about 2 years away from having paid it all back. Increase your monthly payment, either by changing your repayment plan or by just manually paying extra every month (or whenever you can via windfalls like tax refunds, bonuses, raises, etc.). Otherwise all you are paying for is the ability to not pay your actual debt. And of course, take advantage of the fact that interest has been eliminated until October. Payments made now go directly to principle. You can make a lot of progress on your loans right now if you have the discipline and ability to keep paying even though you don't have to.

Do your own math. If it were a car it would have already been paid off. You have to pay more than the interest to get it paid off. You can’t burry your head in the sand. Look at your statements. It’s compound interest that’s hurting you. Simple math says at 10% interest, 2300 a year is going towards interest. If you pay 200 a month, at the end of the year you’ve only paid $100 towards principle. Get roommates if you have to. Suck it up for two years and get out of debt.

Hey I think at one point in time, it was less of an illusion! I read about it in a book...

For real. Community colleges have so much support and resources. Community college graduates arrive at senior colleges like 😳 I have to dig for basic information?

Yes give people a chance to have pride in paying off their debt.

How do you know what they did with there money? With that logic you pretty much believe you know everyone's financial standing / business? Lol... How about asking the necessary questions sir before making assumptions.

@@FromtheeyesofShaun this is as simple as opening your eyes all around you. I left school with half the debt of some others in my same graduate class and it was by sacrificing comfort and delaying gratification. Debt is DEBT, no matter what for and I was averse to it. Some people think school debt is good debt. Others go away to college, even out of state when they should not. This whole idea that doing what feels good to the individual is what's right in this world. Tons of "kids" make bad decisions, supported by parents who failed to help them get do a cost-benefit analysis. I could go on. But ask yourself if you can see how spending obscene amounts of money on college could be a bad investment.

@@feliciajaka that’s sounds dumb.

This makes me sick

What's wrong with community college? Why it has to be either super expensive private college or trade school?

@@edgehodl4832 trade school isn’t even super expensive dude.

@@edgehodl4832 I’ve never heard trade school and super expensive private college in the same sentence 😂 trade school isn’t even that expensive and it’s only 1 year or less and your ready for a career and some community colleges offer trade programs for the same price or cheaper then the actual community college tuition and in some states and city’s trade career education is free or heavily subsidized

Yeah, debt is still debt.