To be fair, loan providers aren’t allowed to pick and choose who gets loans, they have to give them to anyone who wants one, it’s the law. The only actual requirement is that you have a financial need for subsidized loans, which is a pretty low bar as long as your parents aren’t millionaires. Also, you might want to reconsider whether or not you genuinely think it’s a good idea to consider profitability when granting access to education.
I remember being told in high school by my teachers and guidance counselor and my parents that going to college not only guarantees a good job for life but is the only way for that to ever happen
Makes no sense to guarantee jobs….. because you can't guarantee your quality at the end of a degree. Some people are more employable/add more value to a company than others…..its jot deeper than that….also limiting graduates in career areas is an infringement in the freedom of people to study what they want…. We Never know who is the next genius who might open a whole new business when they are left to study whatever it is they want and create jobs in that area….
Notice the 'Philosopher' guy is the only one asking the moral questions around giving the loans. The other two are willing to gouge people for their money regardless of consequence.
Nobody forces an 18 year old to go to college taking on a massive financial burden. Except the parents… University used to be for the top 5% of folk, who will go on to be successful because they are smart and work hard. Now everyone gets a useless degree and an opportunity to borrow government money they will never give back. That's why paid apprenticeships are so important. Get qualified at nightschool whilst earning money and paying tax. Everyone wins.
As a Boomer who enjoyed further education here in the UK – not free but paid for by tax payers like my dad – I am disgusted that kids today have to pay for it. Third and above level education is an investment in a country's future so the individual should not be in debt for decades for something they will help build but then can't afford to enjoy because the cost of living is so volatile.
Its the government and boomers fault. They thought "oh student loans, what a great idea with the best kf intentions what could go wrong" well they guarantee loans and simce schools will get paid either way they can make the price whatever they want and the government still gives the loan. College courses should have been capped at a certain price based on what the major was. But boomers are stupid so we got this
Isn’t this “inventing degrees”? The university sets the price of the degree… The fact that many students paid for the degree with debt isn’t the main problem
Gov hands these loans out like candy, then says let's pay it all back with taxes!!!!! Oh, but only for people who got degrees that make 0 money. All the people who took on debt and make good money get to pay for the college of sociology majors, great idea!
Student loans are back by the government so if you don’t pay, the government pays. So what incentive do banks have to restrict student loans for shitty degrees? NONE. Think about it, this is the only type of loan where the bank gives $100k to people with bad credit and no job and is also the only type of loan backed by the government. You don’t see this in auto loans.
If you look at the implementation of federal student loans and the rise in cost of college, there is a pretty direct correlation with the cost spiking. Not saying it’s the cause but makes sense.
Please lookup the term “buyer beware.” Nobody was ever forced to take a loan or go to college. Plenty of examples of successful individuals without degrees. Plenty of successful individuals in trades. People just don’t like working blue collar jobs because it’s not “trendy” and would rather take out enormous debt for an arts degree. It’s no wonder they so willingly give out loans because you’re going to be a guaranteed monthly interest payment in perpetuity with your degree in acting.
Take responsibility into your own hands. I understood those issues when i was in high school. I wanted to be an architect. I instead became a mechanical engineer. I went to an affordable engineering school in a low-cost area to minimize debt and that area had internship opportunities. This is not a regulation issue. It is more of a people who are idiots issue.
Yea, it almost sounds like bankers really screwed the pooch and got greedy and stopped following safe and ethical lending practices. You would think that in a democratically controlled capitalist system, that industry would be allowed to fail based on its own misguidance.
Don't feel bad for not repaying your student loans. I served in the military to pay mine, and I work a trade job and I still support you, and many others just like me support you in toppling this evil industry
I work at US university. Yes, I feel some guilt. My mortgage is less than debt most graduates incure getting their degrees. While at school, many of them are required live in dorms and a dorm is little kore than a glorified and expensive flop house.
I will say it blows my mind what I see at my uni. So many students go to out of state uni’s, don't work a part time job during uni, refuse to get roommates, and boom have 120k debt at the end of a 4 year degree.
Then you compare it to some other kids who went to an in state community college for their first two years completely covered by fafsa at 5k a year. Work part time at 20 hours a week with 3 roommates avoiding student loans for living expenses. Transfer over to an in state tuition uni for 10k a year while still not pulling out loans for living expenses working part time with 3 roommates.
Then graduate at 4 years with less debt then that of a new car.
Then you compare it to me who moved out of state, joined that states national guard for 4 tears letting them cover my tuition at the in state rate, worked part time at 20 hours a week, had 3 roomates and graduated college with no debt without getting approved for FAFSA and no parental help.
Seriously I know people who went to my uni graduating with 100-150k debt because they paid 30k a year in tuition and used loans for col. ome of them plan on the government paying their loans back for them. I don't feel bad for them, but at the same time these should not be getting approved. Anyone graduating with over 50k in debt for a 4 year degree scammed themselves.
To be fair, if idiots are taking pointless soft subjects like philosophy and media studies, they shouldn't moan when they can't get a job and have a massive debt.
48 comments
To be fair, loan providers aren’t allowed to pick and choose who gets loans, they have to give them to anyone who wants one, it’s the law. The only actual requirement is that you have a financial need for subsidized loans, which is a pretty low bar as long as your parents aren’t millionaires. Also, you might want to reconsider whether or not you genuinely think it’s a good idea to consider profitability when granting access to education.
Australia has less people than the state of California
I made the choice to not go to
into debt
I remember being told in high school by my teachers and guidance counselor and my parents that going to college not only guarantees a good job for life but is the only way for that to ever happen
Makes no sense to guarantee jobs….. because you can't guarantee your quality at the end of a degree. Some people are more employable/add more value to a company than others…..its jot deeper than that….also limiting graduates in career areas is an infringement in the freedom of people to study what they want…. We Never know who is the next genius who might open a whole new business when they are left to study whatever it is they want and create jobs in that area….
Can’t say it any better !
Very intelligent Comedy
Well chosen words and true facts behind it!
Hi class lighting / super audio and nicely dressed good looking characters!
I'm glad I dropped out of high school to get a brainless grunt job, I'm stress and debt free and I get paid to exercise.
He's just always on point
Notice the 'Philosopher' guy is the only one asking the moral questions around giving the loans. The other two are willing to gouge people for their money regardless of consequence.
https://en.m.wikipedia.org/wiki/The_Use_of_Knowledge_in_Society
Nobody forces an 18 year old to go to college taking on a massive financial burden. Except the parents…
University used to be for the top 5% of folk, who will go on to be successful because they are smart and work hard. Now everyone gets a useless degree and an opportunity to borrow government money they will never give back.
That's why paid apprenticeships are so important.
Get qualified at nightschool whilst earning money and paying tax. Everyone wins.
Commerce falls under social science
Are you Allan’s son?
This is very real! Im graduating from newcastle uni and theres only one place actively hiring graduates of my degree in town!
Don't forget the interest! Student loans rise with CPI but wages don't…
Always love how you hit the nail on the head of these topics
Student loans should be denied to philosophy majors lmao
As a Boomer who enjoyed further education here in the UK – not free but paid for by tax payers like my dad – I am disgusted that kids today have to pay for it. Third and above level education is an investment in a country's future so the individual should not be in debt for decades for something they will help build but then can't afford to enjoy because the cost of living is so volatile.
Is there any other country in the world except US with similar approach to studying and student loans slavery?
BTW, why don't they do school/preschool loans?
20,000$ is the cheapest degree to get in America? holy moly.
I did so social science and I do have those kind of thinking patterns….
Modern day Clark and Dawe. Beautiful
Its the government and boomers fault. They thought "oh student loans, what a great idea with the best kf intentions what could go wrong" well they guarantee loans and simce schools will get paid either way they can make the price whatever they want and the government still gives the loan. College courses should have been capped at a certain price based on what the major was. But boomers are stupid so we got this
Isn’t this “inventing degrees”? The university sets the price of the degree…
The fact that many students paid for the degree with debt isn’t the main problem
Yes the decision is made at 18, but hopefully with lots of wise counsel from parents and others
its so real. 😅😢
its so real. 😅😢
Gov hands these loans out like candy, then says let's pay it all back with taxes!!!!! Oh, but only for people who got degrees that make 0 money. All the people who took on debt and make good money get to pay for the college of sociology majors, great idea!
College is one of the biggest scams of our lifetimes and most people fall for it and even defend it. It's so sad honestly.
Student loans are back by the government so if you don’t pay, the government pays. So what incentive do banks have to restrict student loans for shitty degrees? NONE. Think about it, this is the only type of loan where the bank gives $100k to people with bad credit and no job and is also the only type of loan backed by the government. You don’t see this in auto loans.
Not jewish enough to look realistic
hahaha you made my day xD <3
this is the most perfect clip of all time. it will never be equaled or surpassed. it is simply perfection
If you look at the implementation of federal student loans and the rise in cost of college, there is a pretty direct correlation with the cost spiking. Not saying it’s the cause but makes sense.
This one hurt for reals. Well done on the skit. But this one hit home.
Please lookup the term “buyer beware.” Nobody was ever forced to take a loan or go to college. Plenty of examples of successful individuals without degrees. Plenty of successful individuals in trades. People just don’t like working blue collar jobs because it’s not “trendy” and would rather take out enormous debt for an arts degree. It’s no wonder they so willingly give out loans because you’re going to be a guaranteed monthly interest payment in perpetuity with your degree in acting.
Having less student loans in areas where there's a shortage of workers seems like an actual good idea ngl!
Get an apprenticeship instead. I'm verging on 6 figures AND being financially incentivised for being in the field that I'm in.
I cringe about how real your videos are.. society has effed us over in so many ways.. 😮😮
Blaming the snake oil sales men isn't going to solve anything. Blaming the fool for trusting the snake oil salesmen, that will solve everything.
Green tie fella needs to be president
This video is basically a primal truth. Its bluntness shook me lol
Take responsibility into your own hands. I understood those issues when i was in high school. I wanted to be an architect. I instead became a mechanical engineer. I went to an affordable engineering school in a low-cost area to minimize debt and that area had internship opportunities. This is not a regulation issue. It is more of a people who are idiots issue.
Yea, it almost sounds like bankers really screwed the pooch and got greedy and stopped following safe and ethical lending practices. You would think that in a democratically controlled capitalist system, that industry would be allowed to fail based on its own misguidance.
Don't feel bad for not repaying your student loans. I served in the military to pay mine, and I work a trade job and I still support you, and many others just like me support you in toppling this evil industry
I work at US university.
Yes, I feel some guilt.
My mortgage is less than debt most graduates incure getting their degrees.
While at school, many of them are required live in dorms and a dorm is little kore than a glorified and expensive flop house.
I will say it blows my mind what I see at my uni. So many students go to out of state uni’s, don't work a part time job during uni, refuse to get roommates, and boom have 120k debt at the end of a 4 year degree.
Then you compare it to some other kids who went to an in state community college for their first two years completely covered by fafsa at 5k a year. Work part time at 20 hours a week with 3 roommates avoiding student loans for living expenses. Transfer over to an in state tuition uni for 10k a year while still not pulling out loans for living expenses working part time with 3 roommates.
Then graduate at 4 years with less debt then that of a new car.
Then you compare it to me who moved out of state, joined that states national guard for 4 tears letting them cover my tuition at the in state rate, worked part time at 20 hours a week, had 3 roomates and graduated college with no debt without getting approved for FAFSA and no parental help.
Seriously I know people who went to my uni graduating with 100-150k debt because they paid 30k a year in tuition and used loans for col. ome of them plan on the government paying their loans back for them. I don't feel bad for them, but at the same time these should not be getting approved. Anyone graduating with over 50k in debt for a 4 year degree scammed themselves.
Fun fact, less than 2% of US applications for student loan forgiveness are granted per year.
To be fair, if idiots are taking pointless soft subjects like philosophy and media studies, they shouldn't moan when they can't get a job and have a massive debt.