These mortgage sized loans should never be given out to 18 year olds, no education should ever cost that much unless it’s for a specific course that has a solid reputation of graduating students getting high salary rates but that just isn’t happening and the universities who are frankly the criminals in this entire set up should be utterly ashamed of themselves, something has to change.
Remember you can buy a beer or a cigarette at 18 cause you are not old enough to make a choice that could ruin your life but you can take out a 100k unforgivable lian…logic!
I’m soooo happy I didn’t go to usc cause my dad would have did the same to me 😭 spectating my finances when I turned 18 really helped us . I feel like God just showed me this to remind me my business is blessed and I’m on the right path even though entrepreneurship is hard 😭❤️ thank you
I joined the military. Used the gi bill to get an associates and a bachelor degree. School gave me a summary of costs which showed $153k was received by them. 😅
If parents had to co-sign these student loans for the kids to be eligible a lot of parents would start pushing for the cheaper but still just as good schools
You just have to prove that the school was wasted on her and that she was still uneducated, and by the look of her debt never going down, even an idiot could win that case. 😂
What if you made a show that was about actively making fun of people qho needed help, and then only in podcast bro clips, you wven being to make mention of one of the actual problems.
My niece got pushed into a private vet texh training program. She was only 18 and didn’t have the courage to say no. Its like a 40k loan now and probably a tone more in interest.
This is why you yourself should never sign anything if you don’t intend to pay or have the ability to pay her dad could have been a guarantor on the loan not her if he actually intended to pay it.
😮 Well obviously they’re not getting enough of an education because they signed for that $250000 in debt and guess what we paid ours off they can pay theirs off
The fact student loans can’t be forgiven in bankruptcy just shows you that workers are cattle for the wealthy. Business owners can declare bankruptcy all they want but heaven forbid that a peasant isn’t a debt slave. I wonder how much lobbyist banker money went into writing that law.
What’s funny is i have a 780 credit score, make $168k and can’t get a discover card or a private student loan to save my life lmao. How are these people getting 150k in student debt in the first place
18 is grown. if you can sign up to sell your soul to the mj ilitary and die in a random foreign country, then you should be able to know the consequences of signing a loan.
Forgiving student debt is useless if we don’t stop these loans. It’ll just become an endless cycle transferring taxpayer dollars to the lenders supplying the loans.
My mom forced me to go to a private school by hiding my public school acceptance letters… but she was good on her word and helped me pay off the rest of my balance after I graduated. Can’t imagine the rift that ghosting would’ve caused.
It doesn’t make sense how it doubles an interest if I take $40,000 from you no matter how many years later I should owe you only $40,000 it just doesn’t make sense and I have to rate it goes up to like there’s interest rate goes up every month month
My dad took a 40% paycut to work for Baylor so his kids could go there for free. I had a great time and loved my experience there, but would not recommend going to a school like Baylor if you can’t afford it without loans. I was one of the few students who lived with parents and worked food service part time to pay for books.
People in her position increasingly move to Europe because in the US their lives are basically over. They’ll never be able to dig their way out and often can’t rent an apartment because the loans destroy your credit score.
I would tell those teenager if they parent ever say that tell them you guys are getting a lawyer and sign a contract that they agree to pay for which even amount for the student loans. If not tell them that is fine but you will not discuss your education from then on. And you will never expect them to pay a single penny.
Loans are not the problem, the interest rates are..Are they fixed or variable..Why education needs to be subsidized and no debt trap..CGTN The Point-Hub-Heat, Race to the Future and Modernization
Loans should be limited to an amount based on the borrower’s expected first-year salary after graduation to prevent over-borrowing.
Interest rates on private student loans should be capped at 5% above federal rates to stop predatory lending.
Borrowers must receive mandatory financial counseling to understand the total cost, risks, and better federal loan options before signing.
A 12-month grace period after graduation and hardship deferments of up to 24 months should be required, and loans should be dischargeable in bankruptcy under fair conditions.
Lenders must clearly disclose repayment costs and default consequences in plain language.
Colleges should be held accountable to prove their programs lead to good outcomes for borrowers.
Finally a Federal Oversight Board should enforce these rules, with heavy penalties for violations
Soooo weird how many other first world countries can easily provide free college education and not destroy their own young adults with crushing debt…and America just can’t figure it out. Weird right? 😒
My grand father SA’d me and I was told if I changed my story so he wouldn’t go to jail that he would pay for all of my l Schooling and therapy for the rest of my Life. He and my grandma paid for the small amount my scholarships/grants didn’t cover in undergrad, but when I went to grad school I was told “don’t you forgive him by now? Do you really think he should continue to be punished like this?” So I had to go in debt $220,000 to get my degree to become a therapist. Oh yeah, And he stopped paying for my therapy too….
Now I am a trauma therapist who works with survivors
In debt for going to school, in debt for getting lifesaving health care, etc tell me again why Americans think they are the greatest country on the planet?
If you could get a mortgage as easily as a student loan at least they would slowly building equity but no make it easier to get educating and a pain in the ass to get ownership of a basic necessity.
I rarely talked about college with my mom. I would’ve had to have some kind of loan or grant, decided not to go having no clue what I was even going for. Wouldn’t charge a thing.
College has unfortunately become one of the biggest scams that is forced on us. And in the US, culturally, you bring shame to your family for not going to college and people treat you completely different.
People, wake up please. Most jobs nowadays will teach you hands on and you won’t have to waste money in school to get a piece of paper that says you read books and finished tests.
Never believe anyone who says they will pay for something like college. People may believe it when they say it. Then later feel pressured and leave it to you to deal with. So don’t let them help in the first place.
Predator loans and other companies involved in this type of behavior aren’t going away because well connected people make sure there aren’t any regulations to stop them because they make billions and payoff politicians to look the other way.
yes. as someone who hired many over a lifetime. colleges and the money making loan system for colleges are predatory. its filled with corrupt, dishonest people.
If they were bankruptable, the banks would be so selective of who they give these loans too, no one would get them. And likely the banks would find a way to dictate what degrees were eligible for their loans, because who in their right mind would give someone that much money with no asset to repossess when they inevitably file bankruptcy.
I feel bad for people like that, but at the same time, that’s not my responsibility to pay your debt when I didn’t get the chance to go to college and was smart enough not to get into that kind of debt.
Kids should be allowed to sue the high schools and those that were suppose to advise them in these matters who, instead of being transparent and educating them on these matters, cared more about statistics than a person’s actual success and well-being
Dad took part in a verbal contract and did not hold up his end, so I’d hold him liable too
People need to take responsibility for THEIR decisions and actions. People also forget alot of these loan amounts are not just for the tuition/books, but much of it is for their fancy party house, bar money, cool clothes, summer vacay, trendy college town juice smoothies, you know “living expenses”. Then they get a degree in basket weaving and think that someone will save them in the future. NOPE.
Dude it’s kinda weird as someone who’s almost 18 to hear people calling 18 year old kids, though I kinda get it, when I was visiting my grandma in the hospital her roommate was this nice lady in her 40’s and she called me a baby compared to her
Land of the free
These mortgage sized loans should never be given out to 18 year olds, no education should ever cost that much unless it’s for a specific course that has a solid reputation of graduating students getting high salary rates but that just isn’t happening and the universities who are frankly the criminals in this entire set up should be utterly ashamed of themselves, something has to change.
Remember you can buy a beer or a cigarette at 18 cause you are not old enough to make a choice that could ruin your life but you can take out a 100k unforgivable lian…logic!
My parents also told me “sign it, we’ll help pay for it!” Guess what?
How to get Luigi
I’m soooo happy I didn’t go to usc cause my dad would have did the same to me 😭 spectating my finances when I turned 18 really helped us . I feel like God just showed me this to remind me my business is blessed and I’m on the right path even though entrepreneurship is hard 😭❤️ thank you
Are u sure it wasn’t the other way around?
I joined the military. Used the gi bill to get an associates and a bachelor degree. School gave me a summary of costs which showed $153k was received by them. 😅
Here’s an idea, how about not giving student loans out for anything other than S.T.E.M fields? S.T.E.M without the extras.
Land of the free
When the government started offering stident loans the cost of a college education shot through the roof. Coincidence, I doubt it.
That side eye though.😂
They wouldn’t let me rent a car when I was 18 but they will give tens of thousands to these kids.
If parents had to co-sign these student loans for the kids to be eligible a lot of parents would start pushing for the cheaper but still just as good schools
You just have to prove that the school was wasted on her and that she was still uneducated, and by the look of her debt never going down, even an idiot could win that case. 😂
What if you made a show that was about actively making fun of people qho needed help, and then only in podcast bro clips, you wven being to make mention of one of the actual problems.
My niece got pushed into a private vet texh training program. She was only 18 and didn’t have the courage to say no. Its like a 40k loan now and probably a tone more in interest.
Shes gotta leave the usa. Become an expat
Irony is, if you could’ve borrowed that same money and bought residential real estate, you’d have been INFINITELY better off.
student loans are just modern slavery and the banks know this and have lobbied so that that money they will get back no matter what
This is why you yourself should never sign anything if you don’t intend to pay or have the ability to pay her dad could have been a guarantor on the loan not her if he actually intended to pay it.
To me getting that much debt is absolutely insane
😮 Well obviously they’re not getting enough of an education because they signed for that $250000 in debt and guess what we paid ours off they can pay theirs off
This is why so many HS grads are not going to college. They don’t want to be in debt for life.
The fact student loans can’t be forgiven in bankruptcy just shows you that workers are cattle for the wealthy. Business owners can declare bankruptcy all they want but heaven forbid that a peasant isn’t a debt slave. I wonder how much lobbyist banker money went into writing that law.
What’s funny is i have a 780 credit score, make $168k and can’t get a discover card or a private student loan to save my life lmao. How are these people getting 150k in student debt in the first place
Why and what was is the reason you can’t discharge a student loan through bankruptcy? What makes those loans more important than any other loan?
18 is grown. if you can sign up to sell your soul to the mj ilitary and die in a random foreign country, then you should be able to know the consequences of signing a loan.
Forgiving student debt is useless if we don’t stop these loans. It’ll just become an endless cycle transferring taxpayer dollars to the lenders supplying the loans.
Poor thing
I would tell her to find a gig that you can work off from your laptop. If you can make 800 a month move over sea and enjoy your life
My mom forced me to go to a private school by hiding my public school acceptance letters… but she was good on her word and helped me pay off the rest of my balance after I graduated. Can’t imagine the rift that ghosting would’ve caused.
College is way too expensive. Nobody was there to keep them from increasing the tuition to the sky. Giving themselves big raises. It’s corruption.
Only total disability or death removes the loans. Even moving to another country can be messed with if you have the loans.
It doesn’t make sense how it doubles an interest if I take $40,000 from you no matter how many years later I should owe you only $40,000 it just doesn’t make sense and I have to rate it goes up to like there’s interest rate goes up every month month
My dad took a 40% paycut to work for Baylor so his kids could go there for free. I had a great time and loved my experience there, but would not recommend going to a school like Baylor if you can’t afford it without loans. I was one of the few students who lived with parents and worked food service part time to pay for books.
People in her position increasingly move to Europe because in the US their lives are basically over. They’ll never be able to dig their way out and often can’t rent an apartment because the loans destroy your credit score.
Tell her to sign up for squid games
Shouldn’t have been given the loan.
I would tell those teenager if they parent ever say that tell them you guys are getting a lawyer and sign a contract that they agree to pay for which even amount for the student loans. If not tell them that is fine but you will not discuss your education from then on. And you will never expect them to pay a single penny.
Loans are not the problem, the interest rates are..Are they fixed or variable..Why education needs to be subsidized and no debt trap..CGTN The Point-Hub-Heat, Race to the Future and Modernization
Loans should be limited to an amount based on the borrower’s expected first-year salary after graduation to prevent over-borrowing.
Interest rates on private student loans should be capped at 5% above federal rates to stop predatory lending.
Borrowers must receive mandatory financial counseling to understand the total cost, risks, and better federal loan options before signing.
A 12-month grace period after graduation and hardship deferments of up to 24 months should be required, and loans should be dischargeable in bankruptcy under fair conditions.
Lenders must clearly disclose repayment costs and default consequences in plain language.
Colleges should be held accountable to prove their programs lead to good outcomes for borrowers.
Finally a Federal Oversight Board should enforce these rules, with heavy penalties for violations
Do we need class action lawsuits against these predatory schools? Would that work?
This is called “predatory lending”. Brought to by the tolerant left. They done oppressed this girl for life. Hypocrisy as usual.
Soooo weird how many other first world countries can easily provide free college education and not destroy their own young adults with crushing debt…and America just can’t figure it out. Weird right? 😒
My grand father SA’d me and I was told if I changed my story so he wouldn’t go to jail that he would pay for all of my l Schooling and therapy for the rest of my Life. He and my grandma paid for the small amount my scholarships/grants didn’t cover in undergrad, but when I went to grad school I was told “don’t you forgive him by now? Do you really think he should continue to be punished like this?” So I had to go in debt $220,000 to get my degree to become a therapist. Oh yeah, And he stopped paying for my therapy too….
Now I am a trauma therapist who works with survivors
Stupidity.
You can discharge student loan debt in bankruptcy under certain conditions.
This makes me feel like I need to be a mentor. Dept makes you slave.
You allow a 18 year old Kid to take a millionaire loan, but not to drink a beer… how funny and obscene is the braindead system.
So what would you actually have to do? Leave the country?
😂😂 went to a public university, I don’t have that problem.
Guy in the yellow shirt looks like a Tom Cruise deepfake
In debt for going to school, in debt for getting lifesaving health care, etc tell me again why Americans think they are the greatest country on the planet?
If you could get a mortgage as easily as a student loan at least they would slowly building equity but no make it easier to get educating and a pain in the ass to get ownership of a basic necessity.
You CAN discharge student loans but it is very difficult
Why are American schools so expensive? 100k for a freaking degree is WILD
Honestly had no idea student loans wouldnt go away after bankruptcy! No that i have any lol trade school was a hit in my town.
I rarely talked about college with my mom. I would’ve had to have some kind of loan or grant, decided not to go having no clue what I was even going for. Wouldn’t charge a thing.
College has unfortunately become one of the biggest scams that is forced on us. And in the US, culturally, you bring shame to your family for not going to college and people treat you completely different.
The credit system is a sham!
And this reason is exactly why I skipped college
People, wake up please. Most jobs nowadays will teach you hands on and you won’t have to waste money in school to get a piece of paper that says you read books and finished tests.
Just left the country
Never believe anyone who says they will pay for something like college. People may believe it when they say it. Then later feel pressured and leave it to you to deal with. So don’t let them help in the first place.
The people who came up with charging interest on loans must be so evil
Predator loans and other companies involved in this type of behavior aren’t going away because well connected people make sure there aren’t any regulations to stop them because they make billions and payoff politicians to look the other way.
Can we start a fund to help her pay it off?
If they want to fix the cost. They need to make student loans so they can be bankrupted again.
She shud sue him
yes. as someone who hired many over a lifetime. colleges and the money making loan system for colleges are predatory. its filled with corrupt, dishonest people.
When your 18 your not a kid im so tired of hearing that. You’re an inexperienced adult & you should act like it.
My FiL forced us to lease a lemon because “he’d help pay for it.” He’s since been cut out of her life and the dealership went bankrupt.
If they were bankruptable, the banks would be so selective of who they give these loans too, no one would get them. And likely the banks would find a way to dictate what degrees were eligible for their loans, because who in their right mind would give someone that much money with no asset to repossess when they inevitably file bankruptcy.
An 18 year old can’t smoke or drink legally but can sign their life away to something like this.
You can discharge student loans private student loans, but you can’t discharge ones from the federal government
I feel bad for people like that, but at the same time, that’s not my responsibility to pay your debt when I didn’t get the chance to go to college and was smart enough not to get into that kind of debt.
Absolutely sickening that the worst, most predatory loans are specifically for young students looking to GET A JOB with educational qualifications.
Kids should be allowed to sue the high schools and those that were suppose to advise them in these matters who, instead of being transparent and educating them on these matters, cared more about statistics than a person’s actual success and well-being
Dad took part in a verbal contract and did not hold up his end, so I’d hold him liable too
Father of the Year right there.
Debt is a figment of yall imagination. Just dont pay it no mind😭😭
You should go to work right after high school and figure out how the world works and decide after if college is something you need to
I would think there’s some basis for suing her father.
Deny, depose, defend.
This is garbage predatory behavior
She needs to learn these lessons. Hopefully others do without going down this exact path.
“the education stays with you”. Whoever made that law does not understand how colleges work anymore.
This guy is a HACK, done with this podcast!!!!
Student loans should be discharged in bankruptcy!!! The fact that you can’t is disgusting!
Remember life is for the rich, you will never have the same opportunities if your family has no money
Did she major in statistics?
So what do you do in that situation? Just curious
Find a good trade school, that you will learn not only the trade but basic skills on how to land a job.
Sign up for $200k credit limit spread over 20 cr3dit card and balances transfer to it. Then technically you can now discharged it in BK
People need to take responsibility for THEIR decisions and actions. People also forget alot of these loan amounts are not just for the tuition/books, but much of it is for their fancy party house, bar money, cool clothes, summer vacay, trendy college town juice smoothies, you know “living expenses”. Then they get a degree in basket weaving and think that someone will save them in the future. NOPE.
If the govenment and banks screw you then get thos loans and use it for onvestmenrs
Americans are gonna be like the squid games characters being one million in debt.
We have a debt crisis caused by parents not caring enough to guide their children. We keep trying to treat the wrong cause.
College is way too expensive now as well.
Time for a new identity.
Dude it’s kinda weird as someone who’s almost 18 to hear people calling 18 year old kids, though I kinda get it, when I was visiting my grandma in the hospital her roommate was this nice lady in her 40’s and she called me a baby compared to her