18 Vs. 28 Vs. 38: Student Loans
video description
Jayce- Didn't read the terms of her scholarships, and instead of dropping out or changing universities when things got expensive, she just took out a loan for it. She has now decided that instead of paying what she can towards her loans, she's going to bank on her loans being forgiven. Literally hoping the problem will go away if she just ignores it. I just want to be financially stable is a good dream, but it's one you actually have to work for, it doesn't just come with age, and it certainly doesn't come with an attitude of if I knew I'd have loans anyway, I would have gone for the most expensive option imaginable.
Lexi- I knew it was a huge financial commitment. She is paying on it. She will have it paid off in 5 years. Given the numbers they provided in the video, that's 5 to 15 years earlier than the average meaning she's paying more than she has to each month, or she signed on for less debt than the average in the first place rather than just taking on whatever she could. This is responsible debt management.
It sucks for Aliza and Jayce that they are so heavily in debt. But when you have to start making adult decisions, you should take it seriously enough to start planning for your adult future, and be prepared to do adult things that aren't fun or rewarding. That's what adulting is. And unfortunately for them, the longer they avoid making that commitment, the more debt they will be in and the harder it will be to overcome.
Date: 2020-08-13
Related videos
Comments and reviews: 9
IARRCSim
In Canada, taking loans to cover an undergrad degree is normal. Working on a masters degree is quite different, though. A masters program combined with the required research assistant or graduate assistant position should mean basically breaking even through tuition, rent, and basic living costs. A PHD program actually pays a modest income and lets students save up if they live frugally like they did in undergrad.
If a university in US charges more per year for grad school than for undergrad school, why? Grad students are usually a great help to professors and work for the university while studying. Research grant money often comes in. I wonder if these are credible universities or if they're to a great extent selling their masters and PHD degrees to students who had enough money but not enough brains to proudly represent the university. After getting a bachelor degree in a high demand field like engineering/applied science, computer science, you should be ready to work and get paid for it. If you and many of your peers are flocking to start a masters program that you need to pay even more per year for, you must have picked a bad undergrad program, university for undergraduate studies, or not learned enough there.
reply
In Canada, taking loans to cover an undergrad degree is normal. Working on a masters degree is quite different, though. A masters program combined with the required research assistant or graduate assistant position should mean basically breaking even through tuition, rent, and basic living costs. A PHD program actually pays a modest income and lets students save up if they live frugally like they did in undergrad.
If a university in US charges more per year for grad school than for undergrad school, why? Grad students are usually a great help to professors and work for the university while studying. Research grant money often comes in. I wonder if these are credible universities or if they're to a great extent selling their masters and PHD degrees to students who had enough money but not enough brains to proudly represent the university. After getting a bachelor degree in a high demand field like engineering/applied science, computer science, you should be ready to work and get paid for it. If you and many of your peers are flocking to start a masters program that you need to pay even more per year for, you must have picked a bad undergrad program, university for undergraduate studies, or not learned enough there.
reply
R.
Aliza's situation is entirely her fault, not some predatory system. She asked for a loan on her own and then got it. She was going to be a lawyer and then switched her own mind and now makes next to nothing.
Jayce clearly didn't read the terms of her scholarship. It shouldn't have been a surprise and that's not the school's fault. Also, she not only went to grad school, but took out 100k to get a job that earned her less than 1500/month, which is just a completely negligent decision on her part. Not understanding ROI is her main problem. It's really not hard to make 18k a year. She should have understood what her prospective career's average salary is and not gone to grad school.
reply
Aliza's situation is entirely her fault, not some predatory system. She asked for a loan on her own and then got it. She was going to be a lawyer and then switched her own mind and now makes next to nothing.
Jayce clearly didn't read the terms of her scholarship. It shouldn't have been a surprise and that's not the school's fault. Also, she not only went to grad school, but took out 100k to get a job that earned her less than 1500/month, which is just a completely negligent decision on her part. Not understanding ROI is her main problem. It's really not hard to make 18k a year. She should have understood what her prospective career's average salary is and not gone to grad school.
reply
Jacob
I managed to keep myself in a position in which I could have graduated debt free had I wanted to. I'm just waiting till it's the right time to pay it off with interest rates at zero. I did a lot to limit my loans. I've worked overtime for months at a time once while maintaining a full schedule, commuted, competed for scholarships, and threatened to drop out until they returned promised aid. Had I done nothing my loans would be over 100k. Now they are 22k and I have a 70k salary. Even if you can't go without any loans, don't let that stop you from playing it smart.
reply
I managed to keep myself in a position in which I could have graduated debt free had I wanted to. I'm just waiting till it's the right time to pay it off with interest rates at zero. I did a lot to limit my loans. I've worked overtime for months at a time once while maintaining a full schedule, commuted, competed for scholarships, and threatened to drop out until they returned promised aid. Had I done nothing my loans would be over 100k. Now they are 22k and I have a 70k salary. Even if you can't go without any loans, don't let that stop you from playing it smart.
reply
endwelfare
doesn't mention what they went to school for or what they are doing for a living. Sounds like they Got degrees and then chose to pursue another profession so that's on them. THe lawyer lady straight up said she didn't wanna be lawyer but now she has found her path which clearly doesn't pay anything. These people are just irresponsible and want other people to pickup the TaB. College tuition is already so high because the Government got involved and now those same people wanna throw money at the problem they created. People never learn
reply
doesn't mention what they went to school for or what they are doing for a living. Sounds like they Got degrees and then chose to pursue another profession so that's on them. THe lawyer lady straight up said she didn't wanna be lawyer but now she has found her path which clearly doesn't pay anything. These people are just irresponsible and want other people to pickup the TaB. College tuition is already so high because the Government got involved and now those same people wanna throw money at the problem they created. People never learn
reply
Zminator1986
Everybody should get educated on loans before taking them out.
The question I have is what were these women studying that requires such high student loads? What schools did they went to? Did they look into alternative universities or community colleges? Did they had a job during school to cover a little of the expenses? Did they look into scholarships, grants, or consider joining the military to get the G. I. Bill?
reply
Everybody should get educated on loans before taking them out.
The question I have is what were these women studying that requires such high student loads? What schools did they went to? Did they look into alternative universities or community colleges? Did they had a job during school to cover a little of the expenses? Did they look into scholarships, grants, or consider joining the military to get the G. I. Bill?
reply
Kim
They should target student loans intelligently. Engineering, Sciences, Maths. Core subjects that the Nation needs. Womens studies, Fashion, Liberal Arts, etc, should have no loans available, they're useless. Go get a loan from your bank if you really want to do those
reply
They should target student loans intelligently. Engineering, Sciences, Maths. Core subjects that the Nation needs. Womens studies, Fashion, Liberal Arts, etc, should have no loans available, they're useless. Go get a loan from your bank if you really want to do those
reply
sumrandumguy1
>Wants to be a lawyer
>Didn't read the full contract before signing it.
Idiots like this deserve to be in debt for the rest of their life, they serve no other purpose other than to be a warning for others.
reply
>Wants to be a lawyer
>Didn't read the full contract before signing it.
Idiots like this deserve to be in debt for the rest of their life, they serve no other purpose other than to be a warning for others.
reply
Katydid91
The woman who is 28 is the epitome of an idiot. She thinks that if she knew what she knows now, shed try to get into an even more expensive school. And she thinks the loans will be forgiven. Theres no hope for her.
reply
The woman who is 28 is the epitome of an idiot. She thinks that if she knew what she knows now, shed try to get into an even more expensive school. And she thinks the loans will be forgiven. Theres no hope for her.
reply
fahmi
I made bad choices, i took the major that wont give me a return. I took the major that i wont use. But its your fault. Its the gov fault, the society fault, the uni fault except mine!
reply
I made bad choices, i took the major that wont give me a return. I took the major that i wont use. But its your fault. Its the gov fault, the society fault, the uni fault except mine!
reply
Add a review, comment
Other channel videos
