The impact of mounting student loan debt


Paul Whisler

58 Comments

  1. So join the military like I did!!! Free housing, food and education!! No debt

  2. This is ultimately the Federal government's fault, because they give anyone and everyone a loan, and others FREE money, which inflates the cost of college because they know everyone has money.

  3. Well you shouldn’t get into 100k of debt to get a job only making 25k. Stop going into useless degrees.

  4. The government has created a means to make all college students indentured servants. You will now be their slave for the rest of your life. And if you do manage to make any money after you graduate there is a part two. You will be trained by the media to spend that money on BS that has no value and you will also be using your credit card to buy it, kicking the can down the road.You don't have to think for yourself let me show you the way.

  5. Once again, Americans are carrying large debt trying to make a better life for themselves
    Changes need to occur, when this country is full of illegal who get Free education
    My child paid $36,000 for dental assistant classes, $36,000!!!!!!!

  6. More liberal schools offering more liberal kids more liberal arts degrees that require no real learning because they're all based on fake facts or opinions that prepare none of them for success in the real world…and they can't find jobs to pay off their loans, or they just don't want to work for a living.

  7. I didn't go to college, but I have a good paying job,debt free. These people standing around ass deep in debt need to get a grip. Get to the unemployment office,Not to Facebook and You Tube. Get a job and pay your bills. In doing so you might learn something about yourself and life,"It gives back what you put into it". For the future ,it's a wise investment.

  8. The ones leaving college can not get a job. So they become activist or work for non for profit. That really are for Profit.. Just checkout their salaries.

  9. LOL college presidents these days are living in 13-bedroom mansions with servants and their own pool, tennis court, and golf course. Think that this has anything to do with the $1.5 trillion in total student loan debt??

  10. The impact of taking on debt you cannot repay. Maybe if these young adults were not so retarded they would make better decisions.

  11. Better to make your money work for u and pay the debt by the time you graduate, Join Robinhood and we'll both get a stock like Apple, Ford, or Sprint for free. Make sure you use my link. https://share.robinhood.com/dhanant1

  12. Why dont you ask about the impact of paying off a student loan debt while underemployed ??

  13. Should students be required to take a class about money and how it is earned?

  14. Colleges are nothing but a liberal scam. They get free government money via FAFSA, AND they don't have to pay taxes because they're a "non-profit." Yea, ok. You find another business model that charges $40K/year (plus admin fees) that isn't "non-profit".

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  16. America is great! Really? Guys and gales you can study abroad for free and in your native tongue too. So why pay for a trashy US education system, which robs you?

  17. I have applied to many jobs that say "Degree required" and I landed one of those jobs without the degree. They don't give a shit if you have a degree. They care if you can make them money

  18. "The average salary for a graduating seniors is $50K a year". Really? He should say it depend on what they study. I think people have to do research back about that statistics. I know some people who graduating with master degree making less than $50K and PhD on food stamps. I also know some people who don't even graduate from high school making six figure money.

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  20. The talk about useless degrees is tired. Students were told to take the debt in stride, any degree would put you in position to pay it off handily. wages are shit. Good luck people, in 3 year this loan bubble is pacing for 20 trillion. Already too late. And btw living on 50k isnt really possible where I live. 100k is low income.

  21. Last time government printed money to make it easy to buy houses, we had a housing bubble and then a collapse.

  22. Sign up for Pay As You Earn (PAYE) – it is a type of IBR (Income Based Repayment). Google it, you have to kind of do a little bit of work to sign up, and if you start really making money you’re fucked (although not if you are really doing well in another country, which is becoming increasingly common). Don’t be an idiot and pay back, just ride it out until it explodes. Would you pay someone who robbed you in monthly installments? Only if you are a b***h. Don’t even worry about the interest, it will crash in 10-20 years

  23. Currently in the process of gathering feedback on a project that can provide a solution to the student loan debt crisis.

    MyStudentFund.Me is a crowdfunding site that will allow students to share their college experience, debt owed, and their future goals. Potential mentors can then view each story and invest in any student they choose.

    If there is any interest in the project, share your feedback. With that said, if there is not any interest, then the project will not start. Thank you.

  24. Honestly, thou just take a year or two off and try to find a job! before doing anything I switch to a community college (call college in Canada) I met so many people who are older then 18 that waited then came to the program I took and no one that I talk to so far has regrets doing that. You not wasting your time by working a year or two! and don't let people scare you saying you never go if you don't go now. That's bullshit because we all know we need some education. I let some one scare with me that now I realize I think person sabotaged me on purpose a little bit because I wasted a year at University and drop out anyway. Listen to your self more and go to community college instead.

  25. It is a bit of scam. The student loan forgiveness programs largely don't work. Less than 1% of the people that apply for loan forgiveness actually get it. I did a writeup here: https://ron-henry.com/get-rid-of-student-loan-debt/

  26. I love my federal and state grants so far, one more year then im officially debt free

  27. Lot's of angry people in this thread. I don't blame you. But rather than blaming everyone else, arm yourself with knowledge. You can have you student loans and eat your ramen noodles too! 👉 https://bit.ly/2xlPFWx

  28. So here's my thing, I dont want loan forgiveness (bailout) or any income based repayment. I would like to pay back what I took out plus a little bit on top. I understand that these business have to make money. But taking out $44,000 bucks and then having it equal to $140,000+ after you get done making the minimum payments of 500+ 186 months. The government lets these greedy businesses get away with it and the American people are the ones who suffer. I'll probably will die with these loans under my name. "Well guy you should have saved up money and read the fine print". Well its kinda tough to do when you're pressured by family and friends of the family (along with society) to get a college degree to make something of yourself.

  29. So glad i learned a trade, Im making a nice living and am debt free.. So many of my friends will never see the light of day.

  30. When are people going to admit that this college thing doesn't work anymore. Sure, maybe for a few smart people. It's your life, do what you want.

  31. Crisis my ass. I was over $43K in debt after college. Know what I did? I made some sacrifices and paid that shit off in three years. I joined the Army, lived with a roommate to cut down on rent. We didn’t use hot water for a whole year to save money (took hot showers at work during the week, sucked it up and took cold showers during the weekend). All furniture free from people who were gonna throw it away, or very cheap from ikea. I went on a deployment, and all that money I saved from no income tax went to pay off the debt. At the end of my four years in the army I was debt free AND I saved enough money for a trip to Australia. Millennials these days are so fucking entitled. They want the good life, but don’t want to roll up their sleeves and do what needs to be done to earn it. If you were to do a lifestyle and spending audit of all these people, I bet you’d find that 90% of the fuckers are capable of paying off their debts, but they waste money on stupid shit and now want the government to pay the tab.

  32. More about the student loan crisis at the College Meltdown https://collegemeltdown.blogspot.com/

  33. THIS IS THE RESULT OF THE "PURITY OF CAPITALISM". THE WEALTHY WHO MAKE MONEY OFF OF THIS SCAM WANT THEIR GREEDY MANSIONS AND YACHTS PAID FOR BY FUTURE DEBT SLAVES!!!

    (SOUND OF A WHIP CRACK)… NOW GET BACK TO WORK!!!

  34. I joined the Air Force and after getting out, attended community college for 2 years. Graduated debt free and going to community college again for another free associate. I think its just about thinking through your decisions and going to college on programs rather than like student loans.

  35. If you want to become successful you need to get job experience you do not need a college degree to be successful it's all an illusion to get into your pocket to spend money. Three things to be successful save your money get a job get experience build your credit score up to 800 stay out of debt.

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  37. This government is such a joke. You have to be strong and smart.
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  38. 2 years after graduating you might as well not even have a degree. I interned for a Gov Agency while in College and they would make fun of people who applied if they had graduated more then 2 years prier without having some sort of related job. I contacted a couple of them after graduating and they were nice untill I told them I was working retail then just cut me off altogether.

  39. If the Federal Government does not forgive all of the student loan debt in this country, the economy is going to collapse. They created this mess, so let them clean it up! Since when did it become the government's job to lend money? The entire higher-education system in this country is overpriced,  a scam and a worthless waste of money.

  40. Question for everyone in the comments section. Could you marry someone with student loan debt ? Just curious to see how you guys feel about it.

  41. I just recommend going to a community college at a low reasonable cost.

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