When I got the bill for my first semester of college I had a hard decision. Either take a loan or go to another college. I am grateful everyday I never took loans. I went to a more affordable college and changed my major. Saved my self from 500k worth of debt.

@chayito7

2 жыл бұрын

You are a wise person!

@johnlawful2272

2 жыл бұрын

@CodaK MomentS a lot of friends joined military even though they didn't want to just to afford college

@SUGAR_XYLER

2 жыл бұрын

@@johnlawful2272 it not worth the risk...it's a government trap !

@johnlawful2272

2 жыл бұрын

@@SUGAR_XYLER my friend they know but they were out of options because of where we stay they made it out alive and was ready to get out as soon as possible

@joyaustin6581

2 жыл бұрын

I did even apply when I saw the fees.

Several years ago my parents had a very frank conversation to me and my three bothers "IF YOU GUYS WANT TO GO TO SCHOOL PAY FOR IT YOURSELF WHETHER IT'S A GRANT LOAN OR GI BILL YOUR MOTHER AND I ARE NOT MILLIONAIRES"

@chayito7

2 жыл бұрын

Love it!!

@Nighthawk-8050

2 жыл бұрын

@@chayito7 Thank you

@larisa7547

2 жыл бұрын

I had a similar but completely opposite conversation with my daughter. I told her she WILL go to college, No matter what it costs.. I was/am not rich, and at 14 became a single mother. But I was instilled with The importance of education. We did not have to take out one loan, Mostly, grants paid for her nursing degree and BSN. I am a very proud mother. when there's a will there's a way.

@Nighthawk-8050

2 жыл бұрын

@@larisa7547 Well Done 👍

@sarahjones3338

2 жыл бұрын

Absolutely

Where is her Daughter. If it wasn't for the student debt story you wld think she passes away or something. The pictures/degree/video. She needs to be in the report!

@adrielhernandez4073

2 жыл бұрын

Haha. True

@Nighthawk-8050

2 жыл бұрын

Yeah I like to know that myself

@johnlawful2272

2 жыл бұрын

In your car

@aspiringvoiceactor645

2 жыл бұрын

They likely concealed her identity out of fear of backlash for her

@user-xp4jr1mq8t

2 жыл бұрын

@@aspiringvoiceactor645 They showed her picture in the video, so I'm not sure that it's all about concealing her identity.

Her DAUGHTER NEEDS 2 GET A JOB MAKING 100K, move in with her mom to save $$$ and then use the 100K salary to help her pay down that debt. Daughter got a free ride.

@samanthab1923

2 жыл бұрын

Yup, Mom’s got her house. Start working towards paying that off.

@Nighthawk-8050

2 жыл бұрын

Babygirl stop the BS help your mama and grow up

@EliteCannagivers

2 жыл бұрын

Kids these days are too spoiled to understand this common sense. It’s the parents fault their kids think like this.

@darbiefucks

2 жыл бұрын

Girl probably got an art degree

@silo18

Жыл бұрын

These comments including your own are offensive and show how little you understand about this issue. It’s not the students fault that a predatory system says you have to go to college to survive in America today.

I think every parent should have a frank talk with their HS age children about their own financial situation and let reality sink in. My daughter took out student loans to go to a state school, but she worked during the school year and full time in the summer. Made enough to pay it off every year with no interest accrued. The only thing I helped her is get a 10yr old corolla so she can go from school to work. She's working now with no student loans but still driving that beater.

@chayito7

2 жыл бұрын

You truly love your daughter with eyes open. Your love is not blind. Making responsible young adults for this society, is what we need.

@Nighthawk-8050

2 жыл бұрын

Absolutely right you're on point

@suzannemiller594

2 жыл бұрын

It’s not you or your kids. It’s this for profit world we live in. Education is a human right.

@elizabethv7411

2 жыл бұрын

Biden P00 his 👖. Kamala clean it up. 5LAV3S do as you are told while your cost of living explodes until you cannot live without a gov handout!

@dummgelauft

2 жыл бұрын

Serve in the military. Serve your country and get an education. Don't be a moocher on your parents

😨 woahhhh! Your kid has accomplished so much, then what is holding her back from paying off her own student loans and not sending her Loving mother into a life of anxiety and panic attacks for the last days of her life? WTF 😲 is going on

@learnwithme3823

2 жыл бұрын

exactly.

@CV-br1eu

Ай бұрын

Feminism is what's going on...When I graduated with my master's in Engineering and had paid off all my loans personally before graduating my parents make comments like "you haven't done shit"...I presume it's because I'm not providing for a woman or really willing to...I also have worked designing commercial mechanical projects for two years after graduating with my bachelors in order to pay for my masters myself...You see in societies eyes it is the man's job to be a slave and pay taxes then the rest of his earnings on women.. even though it's equality and all and they don't need a man...

@LifeofPani

Ай бұрын

@CV-br1eu excuses excuses, lets not put the blame game on women empowerment 🙏

@CV-br1eu

Ай бұрын

@@LifeofPani No excuses here lol just facts, re read my comment (: No excuses needed for me being a successful mechanical engineer that pays off his student debts quickly lol 😆 ... You say empowerment...this video is about a woman not paying off her student debts ...empowerment to not pay of debts??? Hahaha you feminist are too much hahaha

Try letting your " kids" be adults and pay their own debts back ! I would never think of putting this burden on my parents , it's so not fair in so many ways !

@justrosy5

2 жыл бұрын

Clearly, you're not old enough to be on KZread, or you would have known better than to say that.

@k333rl

2 жыл бұрын

@@justrosy5 clearly you don't understand how irresponsible people are. why would you ever co-sign a loan knowing full well that you would be on the hook for it? you'd be better off just going to a bank and taking out a regular loan rather than deal with the sharks working with student aid.

@chayito7

2 жыл бұрын

ABSOLUTELY, AGREE WITH YOU.

@Nighthawk-8050

2 жыл бұрын

No no no mom is not helping her only hindering her and paying her tuition. The daughter needs to solve her own problems like getting a job and paying it off the loan My three brothers and I did it without our parents help.

@ChocolateRabbitEars

2 жыл бұрын

@@k333rl Are you dumb? A loan is a loan. Going to the bank wouldnt have done her any better, and she might not have gotten it at all.

This is very sad indeed. This daughter should pay off her own debt and her mother shouldn’t need to pay her daughter’s debt. It’s not fair for the mother. People ought to take responsibility for their own decisions.

@stewiesaidthat

2 жыл бұрын

The meaning of life is to pass on your DNA. By giving her daughter a college degree, the daughter stood a better chance of finding a mate, bearing children and putting them through college. If she didn't want to make that sacrifice, maybe she shouldn't have had kids to begin with.

@theglassarrow_

2 жыл бұрын

@@stewiesaidthat Is college directly related to any of those things? why do you think that having a kid correlates to taking on student debt?

@stewiesaidthat

2 жыл бұрын

@The Glass Arrow the whole point of life is to pass on one's DNA. By sending my daughter to college, that gives her an 'evolutionary' advantage over those who can't. It gives her more and better choices for a mate, and the two of them are better able to provide for their offspring. Since the debt is discharged at death and no assets are forfeited, it is in the parents/grandparents' best interest to take out the loan rather than the daughter.

@georgemaximus694

2 жыл бұрын

@@stewiesaidthat Oh I see, the debt is discharged when the parents passes away. Children don’t carry the debt. So why doesn’t the parents carry more debt at older age for their children so can take buy multiple homes and properties take loans and flip houses, take on more investments. I know there is an inheritance tax if parents give away assets to their children but looks like debts are forgiven. So inheritances are allowed but debts are forgiven. That’s a very nice system. Probably more people will take advantage of the system so everyone can get into more debt since there an other side to this.

@stewiesaidthat

2 жыл бұрын

@George Maximus I don't know all the instructions and outs of the ParentPlus loans but it sounds like it just affects her credit rating plus having to deal with the debt collectors. But at her age, she should have all her major purchases made and not need credit. If they can't foreclose on her, or garnish her social security or steal it from her bank account, or go after her daughter, why make anymore than token payments to keep the debt collectors at bay.

Isn’t this the child’s responsibility to pay back.

@Nighthawk-8050

2 жыл бұрын

Mom to blame she shouldn't listen to her heart but her head instead

I understand that parents love their children, but (speaking as a Gen Z sdult here), one of the best things you can do for your adult children is to encourage them to take responsibility for what they do. Infantilzation is not love. Dint even get me started on College costs. If you want a degree, please, for the first two years at least, go to Community college. General Ed classes are the same but much cheaper.

@learnwithme3823

2 жыл бұрын

agreed 100!

@tee4272

2 жыл бұрын

Exactly what I was thinking. The daughter should pay the loans back. She decided to go to an expensive school and should be accountable for her choice.

@antiquarian1773

2 жыл бұрын

Completely ignoring the problem that’s right in front of your face. Good job.

@mw-oo7bq

2 жыл бұрын

@@antiquarian1773 Well, obviously the problem is the cost of college in the first place..it's ridiculous. But we are still responsible for the money we choose to borrow. It is not our parents' job to pay that back for us.

@paulstandaert5709

2 жыл бұрын

@@brittg91 I was lied to as well. All business entities are "for profit", though. The whole "non profit" is just a way to avoid taxes and dump the leftovers into the CEO's pockets and then they are like, "Yep, you see... There's no profit here."

One of my college roommates had parents who refused to pay for her college education...they told her this when she was a sophomore in high school. The parents owned a small business and definitely could have helped, if they wanted to. She earned good grades in high school, did extra curricular activities, and got a part-time job. When applying for financial aid, she applied as an independent. She ended up getting a partial scholarship, plus whatever the max is for federal grants, and she got a work-study job.

@learnwithme3823

2 жыл бұрын

Her parents made a wise decision

@roydunn2865

2 жыл бұрын

That's still not very much, books can set you back a grand on their own.

@ktg8670

2 жыл бұрын

@@roydunn2865 What do you mean?? If something costs $24K-40K annually and all you had to come up with out of pocket was a few thousand a year, why would you consider that too much/quite a bit? You can get used books whether from students, online, or your university bookstore...there's definitely often ways to cut corners in that area, I did most of the time.

@tiamarie1226

2 жыл бұрын

Alotta kids right out of hs dont qualify to be considered independent though so I wonder how she got around that being independent would help alotta ppl fafsa going off parents income is a joke their income doesnt mean they can help

@ktg8670

2 жыл бұрын

@@tiamarie1226 I think she might have lived partially with another relative who lives in the same city as her parents and she had a part-time job during the senior school year and she worked full-time during the summer before college. I personally don't believe she "completely moved out of her parents home."

📢📢Parents and students, please do what you can to minimize or completely avoid taking out student loans. Go to a cheaper school or start out at a community college for the first 2 years. It’s unnecessary to have 6-figures of student loan debt or anywhere close to it.

@jesuslover5968

2 жыл бұрын

Or don’t have kids if you can’t afford them

One word to describe this. " America "

@dakrawnik4208

2 жыл бұрын

Greedy, selfish and uncaring America.

@LakePlay

2 жыл бұрын

@@dakrawnik4208 when are you leave or are you just another Marxist troll?

@chayito7

2 жыл бұрын

Why this story make ppl trash America?

@LakePlay

2 жыл бұрын

@@chayito7 social media is full of Marxist trolls doing their best to divide Americans

@jimspammington1831

2 жыл бұрын

@@chayito7 cause America land of the free. Except those without money ofc. Here in Germany University is free

So what is her daughter doing to help out?

@paulasimon6875

2 жыл бұрын

That's a good question

@johnlawful2272

2 жыл бұрын

Being cute

@dummgelauft

2 жыл бұрын

She's like....cool and stuff...

@historyisthebestmyfans2094

2 жыл бұрын

Probably partying

College is optional. There are 2 year degrees, and certificates. If a young person doesn’t have the money, they can live with the parents, work for a few years, save and pay for college. Parents should not go through this. I talk to my son often. Whatever happens, I will support him, but we will not apply for loans. There are companies that pay for college, so that’s another option.

@andrewd.conard5088

2 жыл бұрын

I went to a four year school and earned a degree. But I feel like I didn't get much out it. I really didn't gain any useful job skills. It's really not worth it, especially liberal arts.

@florencia2771

2 жыл бұрын

@@andrewd.conard5088 I hear you. It not only depends on what degree you get, but also location.

@The1GeminII

2 жыл бұрын

@@andrewd.conard5088 -A friend, was asking about a Liberal Arts Degree. I could only describe it, as a collection of credits. It shouldn’t even be offered, as it’s of no value.

I didn't know the school she went to cost 100K plus. If it's 100K plus then hopefully her printed degree in the frame commands a 200K plus salary. Otherwise, just go to a regular college. When you pay for prestige, all it gets is a "WOW" during the job interview from the person interviewing you and nothing else. No one really cares these days. As long as you have a BA, it'll get you through the door and land job interviews. Was the WOW really worth a 100K plus price tag so the mom can die old, broke and miserable? Isn't law school cheaper?

@Chrissy_Hills

2 жыл бұрын

Exactly plus her degree is in English

@jammzy2959

2 жыл бұрын

Regular colleges are 100k plus. Ivy leagues are 200k plus. So many people truly don't understand.

62 and has not started paying on her parent plus loans? She's clearly accepting of dying with student debt.

@olympic-ass-eater

2 жыл бұрын

Her daughter will be paying next.

@shahnejad313

2 жыл бұрын

I am beginning to think that way. I am for 0% loan interest forgiveness. I can pay my daughter's parent student loan principal.

Just sad. Parents paying for their kid's mistakes. I hate how the education system has brainwashed people into thinking you can't get anywhere in life without a 4+ year degree. Not saying that college is a mistake, but wish young adults would not be so hasty to join very expensive colleges and take on significant debt when there are better and more affordable options available. Especially when Mommy is giving up her retirement to pay for it.

@Existential_Dread

2 жыл бұрын

Mommy didn’t need to spread her legs to begin with, did she?

@user-xp4jr1mq8t

2 жыл бұрын

@@Existential_Dread The problem isn't that mommy spread her legs, it's that she decided to take on her daughter's loans and let her attend a more expensive school (Swarthmore) instead of first attending a community college. The girl also majored in English, which is worthless and won't help her get a good job.

@jesuslover5968

2 жыл бұрын

It’s sad kids are responsible for their parents retirement

@tsrocks2029

Жыл бұрын

College is a mistake in many cases. Or at least going at 18 when you know nothing about yourself or the world is. I don’t understand why it’s so hard for people to admit college is a bad deal, it’s obvious. I know of many well paying positions that only require a good work ethic. People at my job make $25 an hour with no degree or experience needed. My husband makes $30-50 an hour on many days as a server/catering manager. People have internalized the college lie and look down on any job that doesn’t require a degree and assume you will be poor. My husband and I are degreeless and have a higher net worth than any of our peers 🤷‍♀️

I owe ZERO in student loan debt. I used the military to pay for my school to get my degree. I would have never put my parents in a situation where they pay for my school…

@jayjones7891

2 жыл бұрын

Exactly. I did 3 tours(4 years) in Iraq as an infantryman to get free school. Came out of nursing school owing $0.

@bluehotdog2610

2 жыл бұрын

Too bad not everyone is qualified to join the military

@jayjones7891

2 жыл бұрын

@@bluehotdog2610 This is true, but why? Disability is a small number of people. What's the other reason?

@Existential_Dread

2 жыл бұрын

The other reason is that the most basically reasonable people don’t want to fight in senseless wars for our owners.

@MrTmenzo

2 жыл бұрын

Heck yeah bro smart move.

This mom made a very bad decision. You don’t ruin your retirement forever so that your dueghter can mount a piece of paper on the wall to make an impression. Totally irresponsible and dumb. There are multiple other ways for people to succeed in life besides this route.

If you have to borrow $100,000 for college, then you can’t afford to go to college full time. Would have been better for the daughter to live with the mom rent free and work a part time job.

@olympic-ass-eater

2 жыл бұрын

U can start a small business with 30k afaik

Did any one do the math before getting this loan. The kids should be paying too.

@Nighthawk-8050

2 жыл бұрын

She needs to get a job and pay it off like everybody else

@joyaustin6581

2 жыл бұрын

I don’t understand it either

@fl1111

2 жыл бұрын

I don't think so.what I understand is students have to take out subsidized loan(govt pay for the interest until 6 months again graduation) or/and Unsubsidized loans( interest start right away). If that's not enough to cover tution there parent plus loans .....(bad idea)

@joyaustin6581

2 жыл бұрын

@@fl1111 or go to a cheaper school.

@fl1111

2 жыл бұрын

@@joyaustin6581 I agree. Also don't major in something useless.

Parents raising children, to be children forever.

Gen X here, and I never got a hand out! My parents said if I wanted to go to college that I’d have to pay for it myself. I am still paying 20+ years later. My mom and dad just hit retirement. How could I expect them to take on MY debt? Cmon!

@tmusa2002

2 жыл бұрын

Check out Dave Ramsey’s plan and get that student loan out of your way ASAP.

Why are parents even now guilted into paying for their kids college

@jesuslover5968

2 жыл бұрын

It’s a debt and the favor is returned when they age it’s called being broke

126,000 WHAT!!!!!!!!!! did she get a 2nd kidney or a car for that price..... WHAT ?!?!? my god.... i dont think 'student debt forgiveness' could erase that skyscraper of an amount.... good god.

@shahnejad313

2 жыл бұрын

Imagine paying 8% interest on top of that to government. I am advocating for 0% loan forgiveness.

Those of us who worked our way through college have no pity.

@lainit.mcneal1666

2 жыл бұрын

I was thinking the same thing.

@brandoncatanese2068

2 жыл бұрын

You didn’t

@rehsa2194

2 жыл бұрын

You can't work your way through everything. I worked my way through undergrad and earned scholarships. Wasn't allowed during medical school, it's literally in the policy and they would've kicked you out if they found out you were working.

@Thunder_Dome45

Жыл бұрын

Try it today. If you can work today and go to college full time, you don't need college. Skip it and work that 150k/yr job.

I wish my parents could help me pay off my student loans. When I graduated HS I had no intention of going to college b/c I didn't know what I wanted to persue. They encouraged to go to a 4 year university anyways so I can secure a good job after graduating they said, but that didn't work out. None of us did research or knew that going to a community college was cheaper so now I'm struggling to pay off loans for a degree I don't want to use but feel obligated to so it wouldn't go in vain. I'm just magically hoping that if I land a job that they will see that paper I earned and my salary can go up even by a little bit.

@Vpentrov

Жыл бұрын

What was your degree?

It's ridiculous! This whole system of debt and credit is literally destroying people's lives. Damned if you do, damned if you don't. It's so sad...

@aspiringvoiceactor645

2 жыл бұрын

It's how the richest families in the world secretly control the population.

College was free in the 1960’s.. which was the point where more African Americans started to attend universities. The powers that be use everything in their power to move the goal post

@rehsa2194

2 жыл бұрын

Exactly!!! I tell people this all the time, America changed drastically, immediately after opportunities had to be afforded to blacks and others. Social hiarchy base only on race and gender was no longer a thing, so not there had to be a new system to determine who the subservient class would be.

Skidmore is one of the most expensive colleges. I'm not sure what the daughter does now with her degree but she could have saved well over 20k by going to a public school and or a 2 year college first.

She truly believes she has the choice to not think about retirement at age 62.

Never ever cosign a student loan.

My math is probably a tad off, but if minimum wage was rechained to inflation like it used to be before Reagan and his cronies destroyed it back in 1980, minimum wage right now would be $27.63 per hour. I think most of not all of us can live on that even with this crazy inflation right now

@stewiesaidthat

2 жыл бұрын

You do realize that minimum wage is always going to be poverty level, whether it's $5 or $50.

Hope mom knows that diploma ain't gonna help her much.

@Nighthawk-8050

2 жыл бұрын

Unfortunately for her she already knows

Why are some colleges so much expensive? There are online courses for most of the common subjects and they cost less than $10 each.

@EliteCannagivers

2 жыл бұрын

Because better school come with connections. The brand matters just like every other industry. When you go to the cheap schools you’re looked at like a Walmart shopper. When you go to the most expensive schools you’re looked at as a whole different thing.

@srikark3532

2 жыл бұрын

@@EliteCannagivers, parents and kids should not fall into this branded schools trap. If they can afford to pay high tuition fees that is fine but they should not bankrupt themselves with student loans. From my experience, the majority of employers always looked for good skills in their employees rather than school brands. In the end majority of the kids will be in the same salary range after they graduate regardless of the school they attend. Quality of skills is very important and there are plenty of online education channels which provide quality content at an affordable price.

@user-xp4jr1mq8t

2 жыл бұрын

@@EliteCannagivers That's not why college is expensive. The reason why colleges charge so much is simply because they can. The federal government guarantees student loans and there are no restrictions or requirements for borrowers. Normally, when someone gets a loan, the lender tries to find out if it is likely that the borrower will pay back the loan, but this is not the case with student loans. A student could take out as many loans as they want regardless of their likelihood of paying it back, and colleges take advantage of this fact by raising their tuition prices to outrageous levels. I also disagree that the cheap schools are not as valuable as expensive schools. It doesn't matter how expensive the school is. In most cases, the prestige of the university also doesn't help students' future job prospects. The only cases where university prestige it is important is if you want to be a lawyer, go into academia or research, or if you want to work on Wall Street.

@user-xp4jr1mq8t

2 жыл бұрын

@@srikark3532 One of my mother's friends owns a company and he told me that he doesn't care if someone has a degree. He told me that what matters more are skills and being able to work in a team.

Sometimes I think I'm not great with money, then I see a report like this. Sheesh. Why would you even THINK about taking out $100,000 in student loans when you're already in your late 50s (as the mom would have been four years ago) when you only make $40,000 a year? If the kid's grades are good enough to get into Skidmore, they're good enough to get into a state school, which would be significantly less expensive. With her salary, she likely won't even be able to pay the interest on those loans every month. Now, here she is, old enough to qualify for Social Security and looking at another 20 years of payments. Also, why is the daughter not paying at least half? A new graduate with any kind of useful degree should be making at least as much as the mom. She ought to be paying at least half those loans. And where is her father? Maybe he and the mom are divorced and he was the only one smart enough not to get mixed up in this financial suicide pact.

Should of sent them kids to community college first then local university. But you think brand names are better than generic brands so pay up.

It should be illegal to allow people to go into this much student debt. Student debt is the worse kind of debt, high interest and you can never declare bankruptcy from it. There are much cheaper ways to get a university degree. Community college transfer to a low cost university. Once you get work experience no one cares what school you went to.

@dummgelauft

2 жыл бұрын

Military

@aolvaar8792

2 жыл бұрын

"Once you get work experience no one cares what school you went to." The last job of my 40 year career, I got because of my degree and where I got it.

@tmusa2002

2 жыл бұрын

@@aolvaar8792 You are one of few, in that case. Look around.

@aolvaar8792

2 жыл бұрын

@@tmusa2002 Law degree, Harvard or Iowa State? I did look around, Name Dropping still works.

@tmusa2002

2 жыл бұрын

@@aolvaar8792 I have never asked an attorney where he went to college and based my decision to use him based on that. But, I am happy for you nevertheless!! The majority of the population do not attend Harvard and somehow make it through life.

Who are these cruel parents who have kids?

Why did she allow her daughter to go to a school that costed $100K if she didn’t get a full scholarship? Parents need to do better work setting boundaries and explaining to their kids that they may not get to go the the school of their dreams unless they earn a scholarship. Most educations are VERY similar, no matter which school you go to. Also, doing the first two years at a community college is the way to go if you truly can’t afford university tuition. This is coming from someone that did all of my prerequisites at a community college so that I could afford to pay in cash.

That is not fair to the parents. You must step up, and pay off your debts as an adult. Kids go into college for the "fun", but don't want to deal with the debt that comes with it. Maybe watch some Dave Ramsey to guide you on your issues. If you take out loans, it's best to delay your party lifestyle or material spending to pay it off. Student loan interests are very unforgiving.

@Existential_Dread

2 жыл бұрын

Parents have kids for fun, silly.

I'm sorry I would never risk my future retirement to pay for my daughter's College

@AJourneyOfYourSoul

Жыл бұрын

Not a chance. Never co-sign a big loan for your kids. So many kids just stop paying and put it on their parent(s).

Hard to empathize with people who Spring Break or study at expensive institutions. My coworker worked extra hours and refinanced her house to pay for her Kid's Yale debt. If you look at the highest endowments you will find Ivy league and football powerhouses. Why force the taxpayers to finance football and frat parties.

This takes multiple changes to deal with. Make loans harder to get, schools need to manage money better, kids need to be more responsible, and people need to have fewer kids. That’s the main reason things won’t change, because it will require sacrifice of multiple groups.

@user-xp4jr1mq8t

2 жыл бұрын

This is such a rational thought, but most people would never consider it because there is too much emotionalism in society and not enough logic.

@jesuslover5968

2 жыл бұрын

You old people are going to be begging for help when you can’t feed or bathe yourself anymore

@jammzy2959

2 жыл бұрын

Make loans harder to get so only the rich can go to college?

Parents chose to pay for college over retirement. That’s was a choice. Make your child help you pay for their education.

It’s telling that the reporter didn’t even ask the mother about what exactly was her daughter’s degree in… some of these degrees are not even worth the paper it’s printed on because the median pay is so low… for example to become a “counselor” in some fields requires a MASTERS DEGREE but it pays like $40,000… a skilled tradesman easily make like $10-$20k more and doesn’t require massive student loans and 5 years of “study.”

This is sad. The daughter should definitely help her mother with the loan payments. I consider myself to be very blessed because my mother was able to finance my bachelor's degree through saving. I believe she took out one small loan but it was paid off soon after. I was also awarded a scholarship.

@sinisterstate1941

2 жыл бұрын

Has that bachelor's degree been useful to you?

@asantyiajohnson6238

2 жыл бұрын

Ama

@candacedawn357

2 жыл бұрын

@@sinisterstate1941 It has!

I do not believe parents do this. I would NEVER!!! Some of the kids don’t even want to help pay off the loan. Ridiculous.

How about getting rid of compound interest of fed backed loans. Car, house; simple interest. Corrupt government backed loans, compund. Complete bs

I set up a UGMA account for my son on his 1 year Bday. I put $2,500 in VT (Vanguard Total World ETF ) and AVUV (Avantis Small Cap Value ETF). I will continue to contribute 3,000 or more a year for him. When he is 21 he will reach the age of majority. If his investment portfolio achieves a historical average of atleast 10% he will be able to pay cash without ever having to borrow a dime for any Ivy league college.

@stevenmintz1

2 жыл бұрын

Thats what I did too. I used the earned income i got to invest yearly.

@Steveo_00700

2 жыл бұрын

@@stevenmintz1 , If you just put 3,000 into a fund like the S&P 500 which historically has earned a compound rate of return of 12% for the past 90 years. By the time your child is 62 and hasn't taken out any money he would have almost 5,000,000 dollars.

These parents are doing so much to help their kids. It’s sad it’s come to this.

@Angelwings-qz5ki

2 жыл бұрын

Well it's their own fault I don't feel sorry for them and I don't pay my daughters student loans either she works her way threw it it's one thing if she has an emergency for like gas or food but they need to stand on their own 2 feet these parents are allowing their children to use them for a bank account so it's their own fault it's ok to be supportive and love your kids but taking care of their mistakes no that's why they need to take a a course on finances

@dummgelauft

2 жыл бұрын

It is unfashionable to say "No" to kids, now-a-days

@KP-hi1om

Жыл бұрын

Come to what? They made the decision now they have to live with the results.

When people borrow for school, they should have an estimated “debt-to-income” ratio calculation (per potential jobs post graduation) and a payback plan. If they can’t afford it per calculation, they shouldn’t borrow it; they should choose a cheaper school/program. Also, the kid (well, an adult) should payback the student loans, not the parents.

Willing to get loans and pay interest for your kids college, but wouldn’t save the 18 YEARS PRIOR. Do not take loans of any kind for college. Save first, pay cash. Do not ruin your life.

@Greg_Knight

2 жыл бұрын

Exactly (to your point about saving early). Even at $200 mo, for 18 years, at an average 5% she would have had well over $69K. With better historical returns and an aggressive portfolio she could have hit her $100K target. If using a 529 plan, it could have been tax-free to boot!

U.S. education cost is crazy

@tmusa2002

2 жыл бұрын

Only if you pick expensive ones. It’s affordable if that’s a priority. So many people pick a college based on the vibe on campus.

My mom signed up for parent plus loans for me to have additional loans to go to university but I am paying down the parent plus loan. Still have $10k left to pay off. My fed loans wasnt enough to cover my apartments off campus/dormitory fees. I just think it's ridiculous parent plus loans have higher interest rates than student loans. 🙄

If the mother was nice enough to pay for her Daughter's education at the time that she needed the help, shouldn't the daughter help her pay for it now?

How about those who went back to school as adults only to be hit with ageism in the new millennium? I pay taxes on my taxes (SS), I pay 3x more for my health insurance than last year, and I make interest only payments since Act 10 crushed our jobs. Ten years ago. Yep. Never get out of debt, yet still working and paying.

i..... just cannot image the anxiety... good god... ty dad for telling me about inexpensive community colleges... good god.

Why??? Students are adults. The love for paterent's children must never be a sacrifice of their own well being. Sad to see this.

@larisa7547

2 жыл бұрын

That's literally what parenting is! However I do agree that parents should not Put themselves in a situation they cannot dig out of. kid might not be able , Or willing, to help parent. not an obligation of American children that Parents Lives matter. And that's blatantly clear in this Society's political economic structure.

@TheJimprez

2 жыл бұрын

Actually... Its ALL about sacrifice so that your children have a better life than yours... That Belly Button, individualistic, personal rights angle Americans are so heavy on... Is exactly why their country has turned to shiat.

@Existential_Dread

2 жыл бұрын

@@TheJimprez yeah. People seem to love to practice the type of yoga which keeps their heads firmly placed inside of their rectums throughout most days in the USA.

Please...community college and a state school. It is one thing to say a kid of 18 didnt know what they were getting into, but these people were in their 40s.

Mama you should know better. Daughter should pay you back. You make 40k & you owe 126k? Crazy.

Have your kids go to a 2 year community college and have them pay per unit. My community college charged $75 per unit. And in some states (or all I'm not sure) community college is free for students with a certain GPA. It's so much cheaper. If they want to continue with college they can transfer to a university. There is nothing wrong with helping your kids out financially but they should definitely help pay for it. And do not pay for your child's education if it's for a useless degree.

@c.eb.1216

2 жыл бұрын

Letting them live at home is technically saving them on room and board, which typically constitutes a great deal of college costs. Make 'em go in-state at the closest place and commute. I will note that's only an option for students who have a stable home life and parents willing to let them stay. You gotta have a lot of compassion for students who don't have that privilege.

@jesuslover5968

2 жыл бұрын

If your kids go to community college you’re better off not having kids at all what a disservice and any parent should feel like a failure if they can’t offer their kids the best education

@harrywells6367

2 жыл бұрын

lmao, what? My friend got into UC Berkeley as a HS senior, but he and his parents couldn’t afford it. Instead, he went to a local community college for 2 years and worked part-time. In his second year of CC, he transferred to UC Berkeley and later received the very same diploma but with him and his parents being $0 in debt. His parents are great people, but I’m not so sure about yours

Dave Ramsey would tell this woman that her Stupid Tax (student loan) requires her to sell her home to pay off her debt, and essentially start over. As the story says, student loan debt is very hard to bankrupt. Nigh impossible. If you co-sign for a car you can’t afford, they can at least take your car and hand you a bill for the difference. But with parent plus loans, they will force you to sell off any- and everything you own, declare bankruptcy, and destroy the relationship you had with your own child. Do not buy things you cannot afford. Ever.

@pohakumana4288

2 жыл бұрын

two ways to not pay student loans, death and total disability.

@mikedemirdjian9976

2 жыл бұрын

Cassie O last I checked Dave Ramsey is a pundit. He's not God.

I figured out how to go to college, graduated without owing any one anything. I did it all my self, parents not involved at all. If your child cannot figure it out them selfs then they are not smart enough to go. PERIOD

I'm doing a few years at a community college then I'll finish up my degree somewhere else. This semester I think I paid around $5,000. All of my credits will transfer so it just makes sense. I've also been able to afford to try out different things to figure out what I'm good at and enjoy.

@tmusa2002

2 жыл бұрын

Thank you for this refreshing perspective. I’m happy for you! Los if whiners out here.

@lyl3645

2 жыл бұрын

The quality/standard of a community college is not the same as a 4-year college. I’ve seen many transferred from community college failed in the 4-year college.

@jamesfranco9961

5 ай бұрын

@@lyl3645Depends what community college you go to. I like the professors at my community college more than the ones at university.

Debt is not worth it. Student debt is toxic sludge. Run away if you are offered student loan.

I WILL NEVER PUT MY LOVING PARENTS THOUGHT THAT DANGEROUS SITUATION.

No tears here. Parents should think beyond. Unmarketable degrees means that parents are likely on the hook for much more than student loan debt. The conversation should have started in grade school.

I don't get it. Why voluntarily agree to a loan term then act like a victim when it's time to pay it back, and hoping for other people to pay it?

@Existential_Dread

2 жыл бұрын

Judging from your name, you don’t understand the complexity of the social system in the USA. It’s ridiculously twisted.

@andriartayudianto8918

2 жыл бұрын

@@Existential_Dread Elaborate? It was a simple statement. You borrow money (anywhere in the world), you pay it back. Is it different in the US?

@tmusa2002

2 жыл бұрын

And the media dramatizing it even more to boot.

@Existential_Dread

2 жыл бұрын

@@andriartayudianto8918 many developed places aren’t charging their up and comers one of their arms or legs to live a life.

@andriartayudianto8918

2 жыл бұрын

@@Existential_Dread Doesn't mean you then rob other people for your own betterment. There are houses for sale for millions of dollars, doesn't mean you have to buy them. There are wiser options you can take: community college (first 2 years) or trade schools. Which will give you a head start and a more practical skill. As for the second topic you raised (expensive college), it's supply and demand. If you sell candy, and there's unlimited demand for your candy no matter what you charge, you will raise the price of your candy, because you can and your customers don't care, because they are given unlimited amount of money to specifically buy your candy. The solution to expensive college: Get the government out of college. You will see tuition drop like flies. Now colleges will have to care about how much they charge and compete to attract responsible people who really care about how much things cost and will find ways to go about getting a degree the most efficient way. The reason you don't buy a million dollar house is because no one gives you the money to buy.

No parents should pay their kid's student loan

6 or 7% for a plus loan? That's loan shark man that's nearly my credit card interest. Who would in the right mind take out that much loan with NO COLLERAL! What kinda administration would torpedo its own citizens like that.

@shahnejad313

2 жыл бұрын

I agree. I am advocating for 0% parent student loan forgiveness.

Dont go to a private college.

Go to a community college for your AA degree than transfer plain and simple.. you'll save a lot of money that way

Does anyone else notice that part where the head honchos of the schools got irritated by the threat of limiting how much debt a person can take on? It sounds like something that a shrewd businessman would do to ensure they get more $$$$.

The Kids need to take responsibility for their own loans not the parents responsibility to pay for their debt absolutely stupid

My son refused to take out student loans (thus forgoing bursaries) when he was studying for his bachelor’s and master’s degrees by staying at home paying no rent and me driving him to and from university.

All student loans should be interest free period

@joyaustin6581

2 жыл бұрын

Subsidized loans are interest free until you graduate.

@dummgelauft

2 жыл бұрын

The colleges will jack up the fees to match the savings on interest. Its not the interest per-se that's the killer, its the high cost of certain colleges and courses..

@joyaustin6581

2 жыл бұрын

@@dummgelauft students voted to increase fees in my university. I didn’t think it made sense

@aspiringvoiceactor645

2 жыл бұрын

Interest is how bankers make their profits. It is not in their best interest to exclude them.

@rehsa2194

2 жыл бұрын

They should stay low interest or interest free afterwards too. Might give people starting their careers a hope and prayer of paying them back.

I honestly do not feel sorry for these parents or students who take out loans so they can attend a private school. Skidmore?!? really? I put my kids in a dual enrollment college program and they had an associate degree by the time they graduate h.s.They both went to a state school which they graduated without debt.

Lol There's 10 grand on the guitar rack that's a semester. Man this poor reporter.

Look into free tuition colleges as we have over 40+ accredited ones. You only just pay for textbooks. While some will have you pay dorm and meal plan but that’s normally just freshman year. It will save people a ton of money. Most are small schools though.

Wow. These parents are amazing and love their kids immensely. I went down with the titanic alone. Parents and kids need finance classes before thinking about college. Knowing how to save and build wealth is more important. Wish there would've been access to more information at that time. Knowing what i know now, I would've left the country to Denmark. Denmark provides free college education within their country...lol. Anyone thinking of college, please do price comparisons or simply leave the county entirely. Sometimes the debt isn't worth it. Purchase a home instead.

@caramela4830

2 жыл бұрын

@Jessica Smith It's all about finding what you love. Wish, High schools would pass out Briggs Meyers Test to all incoming freshman. It would help students figure out their strengths and desires. I would have found out early what I loved to do and gone full force into trying things that fit my personality. Anyhow, I found what i loved to do. It took me a few years to figure it out but I ran with it once I realized. The debt sucks but it's all about finding what you love to do.

How about the inflated cost of college? If not the high cost there wouldn't be a need to consider loans with high interest rates.

@johnlawful2272

2 жыл бұрын

Different career paths I guess

@tmusa2002

2 жыл бұрын

It’s not expensive if you don’t pick an expensive college. Shop around and don’t let anybody fool you.

That’s the parents choice, not something to blame the system. It includes saving, living standard. Everyone is responsible to plan your own financial situation, not others, including parents and kids.

*Q:- What do you call a co-signer for a loan?* *A:- A fool with a pen!* 🤣🤣🤣🤣🤣

People need to be responsible for their own decisions.

@Nighthawk-8050

2 жыл бұрын

It's called leaving the nest

@dummgelauft

2 жыл бұрын

Oh, you heartless person. How can you even expect a modicum of accountability.. 😄😄

@roofieandraggy16

2 жыл бұрын

@@dummgelauft yeah right? I didnt go to college, have had back surgery and im on my first new hip at 46 still grinding.....🤔 governement give me relief from this mortgage.....🙄

@brandoncatanese2068

2 жыл бұрын

What a brilliant piece of work.

I don't feel bad for these people, you took the loan. pay the loan

Your Daughter need to step up and help her pay that debt

Oh man, My biggest regrets now is to take out loan. I was the first gen to go to University and was first one in my family from outside the state to do so too. I wish i knew these before before we get trap. My student debt is over $210k for a career in aviation as a pilot. But as my opportunity grew, I don't want to go to the airline anymore and fly privately. Didn't need that kind of debt to do this path. If only we know...

Gee, I wish I had parents who would do that. But instead, I had to make big boy decisions on how to allocate work and finances. College can easily be a scam. And after they took all my money with nothing for me to show for it, people just kept telling me to go back to college again. Maybe round 2 would have yielded better results, but they promised me results after round 1.

I know people are saying it's a scam and go to a cheaper school. You can't if you want to be a doctor, lawyer etc... you get it, the people you need. Maybe people are happier getting their professionals from other countries. these kids need student loan debt forgiveness , some people complain about where their tax money goes but these kids will be paying taxes longer than you.

So glad that the Australian government supports most students. They paid for about 50% of my double bachelor's degrees, and I got a loan for the rest of it, which has no interest. It does get indexed every 12 months with inflation though. I know that a lot of you are judging people for getting an "unnecessary" degree, but there are lots if careers where you use have a specific degree/s. For others, they are getting additional skills.

@mikedemirdjian9976

2 жыл бұрын

How does the Australian government pay for your degrees? You're more into gloating then elaborating what you purport as facts.

@Yelrebmikkim

2 жыл бұрын

@@mikedemirdjian9976 Great question. Through all of the taxes that we pay. A lot of the universities charge extra for international students too, so they make their profits that way.

For the amount of her college education, she should be a medical doctor now.

@rehsa2194

2 жыл бұрын

Haha, absolutely not. The average cost of med school is easily 50-60k a yr depending on the state, for 4 yrs. Worse, the debt for medical school accrues interest while you are in school. Undergrad doesn't start adding interest until you graduate. Graduate school loans also command higher interest rates. You walk out of medical school with a 300k dollar debt. Also, you will spend 4,5,6 yrs in residency getting paid near min wages while your debt continues to grow at 7%, or over 20k a yr. During residency that debt often grows to near 400k. Then you hopefully start to earn enough money to claw your way out of the mess. But since you go straight from poverty to a supposedly high income tax bracket, much of those high earnings go straight to taxes, while your education debt still grows. M.D = Massive Debt.

@3:06 The answer is “no” she does not regret having taking loans. So why the gripe?

I think it's great that colleges can demand as much as people are able to borrow to teach something. The only thing college teaches you that's useful is don't go. Yeah, you may earn more but then they keep taking that more money from you, so do you ever actually make more? Nope. You just buy more debt. Too bad I didn't see that until after attending these greedy colleges.

I’m so sorry

predatory loans

@joyaustin6581

2 жыл бұрын

How? Do you not understand the power of compound interest?

@Neppy1414

2 жыл бұрын

@@joyaustin6581 🤦😂

@joyaustin6581

2 жыл бұрын

@@Neppy1414 sometimes when I get a reply I have to refresh myself on what I was talking crap about

@Neppy1414

2 жыл бұрын

@@joyaustin6581 mission accomplished

@joyaustin6581

2 жыл бұрын

@@Neppy1414 I honestly don’t think people fully understand how compound interest works. 100k at 5%-7% interest will make debt grow unless you pay more that 500 a month. Ignore it and debt can double very easily. People should be asking for interest forgiveness.

If you can't pay for college don't go it's that simple

@mikedemirdjian9976

2 жыл бұрын

More layers to it than that, you two. More layers to it than that.

If her daughter did above and beyond why don't the daughter get a good job with that degree and pay it off for her mom???????????

The problem are the universities charging so much money…I take online classes and the charge me an extra 100 dollars under “distance learning” fee per class… wtf is that