Refinance

Why Do College students Have So Considerably Personal debt?





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Going to college or university in The us ain’t affordable with every single semester costing 1000’s upon 1000’s of pounds. How do American learners pay out for this and how did the selling price tag get so higher? Currently, Danielle usually takes a dive into the university student credit card debt disaster and examines the very good intentions that led to it.

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Made and Hosted by: Danielle Bainbridge
Produced by Complexly for PBS Digital Studios
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Works Cited:
Ideal, Joel and Eric Ideal. The College student Financial loan Mess: How Superior Intentions Made a Trillion-Dollar Dilemma. Berkeley: U of California P, 2014.

University Board. “College Charges, FAQs.” Accessed 9 April 2019.

University Tuition Look at. “Paying for College of Pennsylvania.”
Accessed 23 April 2019.

Delbanco, Andrew. University: What it Was, Is and Need to be. Princeton: Princeton UP, 2012.

Federal Reserve Lender of New York. “Quarterly Report on Residence Personal debt and Credit, This fall 2018” Accessed 9 April 2019.

Federal Reserve Lender of New York. “Total Residence Personal debt Rises as 2018 Marks the Ninth Year of Annual Advancement in New Vehicle Loans” Accessed 9 April 2019.

Make Lemonade. “Refinance College student Loans.” Accessed 9 April 2019.

Occupy Solidarity Community, “Occupy Wall Street: We are the ninety nine %.” Accessed 9 April, 2018.

Pell Institute for the Research of Option in Bigger Schooling. “Mission and Function.” Accessed 9 April 2019.

United States Government, “National Protection Schooling Act of 1958.”
Accessed 9 April, 2019 by means of the Background of Federal Schooling Coverage web site. (Make sure you check with your actuality-checker if there is a greater way for your viewers to entry the principal document)

College of Michigan, Office of Economical Aid. “Cost of Attendance.” Accessed 9 April 2019.

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42 comments

  1. Hello and Hi Everyone! Because this is a new episode/upload I'll be signed on here for the next hour answering the comments and questions that roll in. So drop them below and let's talk about student loan debt (or anything else). Let's go!
    -Danielle

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  2. I bet this chick got a worthless degree

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  3. I`m writing from Colombia. here, private universities are really expensive so the only option left for low income families is to apply for the public ones, that are still cheap (sometimes for free, if you belong to an ethnic group, faraway towns or settlements or your gfamily income is low) yet they have demanding admission exams that very lucky few pass. I explained that to our American English language assistant at the uiversity I work for, she asked me "how much did you pay back then" I made the conversion to American dollars plus inflation and it was worth around US$ 440 a year. She was shocked!!! she owed thousands of dollars. She couldn`t believe that even with such a low tuition, I struggled to pay tuition as back then I had no job. We in Colombia are fighting for our right for keeping and expanding publicly-funded education, if there's money for a large military in a small country (we have almost the same military personnel than that of Brazil) why not to fund public education to avoid the debt trap that's starting to grow down here??

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  4. College is a scam

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  5. This video was more thorough than other videos on the subject. Some automatically blame the private sector. Others are quick to blame the government. The information presented here is much more thorough in general.

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  6. Well… it is free in Denmark

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  7. Governments should subsidize mathematician and science education.

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  8. Spend spend spend. Students dress smart now and have mobile phones, laptops, cars…..

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  9. Working class is continually being tricked into debt.

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  10. I think a lot of students don't do basic math basic math states that you don't take out $ 100.000.00 loan and come out collage and get job paying $ 32.000.00 the math dose not add up you supposed to learn to summarize your answers in high school student debt never be paid just do the math. Like wise you don't buy a $ 250.000.00 house for 30 years making $ 3.000.00 dollars a month 12 months in a year 3 X 12 is 36 just add your zero's $ 36. 000.00 these are the top two debts in America/ take a look at all the stores closing in the pass two years were are you going work?

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  11. Student loan is threaten to lock me up. I guess student loan is the new crime. It's not a crime for them to train me for a job that didn't exist but it is a crime if I don't make payments.

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  12. I can't believe that so many people have student loan debt, $44 million! Why!!!! There are so many ways that students can pay for education. There are so many myths about how to get a college education. Why does every American think they NEED a degree from and expensive US university. College is much cheaper outside the US. Look at Europe's college and universities! They are much cheaper! If you are looking to go to a college just because of it's name, football team, fitness facilities, or prestige you get what you pay for and I don't feel sorry for you.

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  13. I love this channel! Im not sure if there is enough information on this and would like to know more about why the school day end two hours before the workday?

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  14. Student loan interest rates should be capped, within ranges. For less than $20k debt, maybe it should be capped at 2 or 3%.

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  15. I love these informative videos

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  16. Occupy Student Debt Campaign? Entitled people who want others to pay for their bad choices…

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  17. People are not being intellectually honest with themselves… People have a ton of loan debt because families are willing to send their kids to college without any regard for the financial repercussions. Who the hell selects a college educational path in liberal arts programs when you know well and good your best financial prospects are working in the coffee service industry? Why go to an overpriced private school when you know that a public state college serves the same purpose at a fraction of the cost? Seriously, there are no economic or commercial needs for useless college degrees like ethic studies, art history, or safe space studies. People should be studying subjects like engineering, math, science, business, medical professions, etc. Once these college students realize that spending $200k on useless 4-year degrees was a massive mistake, then they started demanding loan forgiveness because they were "unfairly saddled" with student debt…. Which they voluntarily took on…

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  18. Plus loans are to be paid back immediately??? I didn't know that and I did my research. Oh well :/

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  19. nice thing my parents paid off my full debt

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  20. This is a PROBLEM that has been ON GOING in this SOCIETY for QUITE some TIME but to CONTROL it is the MAIN for without the BEST EDUCATION available to OUR CHILDREN AMERICA which EVER ONE who ADMIT to knows we have FALLEN BEHIND in Some FIELDS in the WORLD , and most will not LIE about . There are FIELDS in which NATION was and STILL is the WORLD'S LEADER. EDUCATION of OUR CHILDREN is the ONLY we REMAIN COMPETITIVE in the WORLD for OTHER NATION'S are not STANDING STILL they are PROGRESSING the same we are . At ONE TIME MORE YEAR'S then most REMEMBER AMERICA was the WORLD LEADER in COMPUTER TECHNOLOGY and TELECOMMUNICATION TECHNOLOGY , CHINA SURPASSED AMERICA in this FIELDS YEAR'S AGO , AMERICA is STILL SECOND but RUSSIA SUPRISELY is SECOND and MOST that know these FIELDS EVENUALLY they will SURPASS AMERICA , JAPAN who was SECOND there were SURPASSED by RUSSIA YEAR'S AGO. The MAIN THING is the EXSPENCE of a COLLEGE EDUCATION it's become MORE out REACH of STUDENTS in this SOCIETY. Even with the PELL GRANT PROGRAMS in PLACE they are LOANS which MUST be PAYED BACK leaving STUDENTS SADDLED with MORE DEBT they do not LIKE even THINK ABOUT TRYING PAYBACK , SCHOLARSHIP PROGRAMS HELP . EVEN some it's not a EASY JOB. If some way is not FOUND though to GET THE BEST and BRIGHTS of this NATION the EDUCATION they need , this NATION Will CONTINUE FALL FURTHER BEHIND in the WORLD . There are other PROBLEMS in this NATION and SOCIETY which COMPOUND this PROBLEM , the RESERECTUTION or RACE and CHAVISUM , ANTI SEMITISM and a MULTITUDE of ISSUE'S which has IMPACTED the SOCIETY to POINT they are CAUSING PROBLEMS which should be CONSIDERED PETTY as PROBLEM when it come to the WELL BEING of all in the SOCIETY.

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  21. This is why I have given not even one penny to my university's fundraisers. I built 10 buildings in the time I was there (as did my colleagues), so they will get not one penny more.

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  22. The bottom line is this, you signed for the loan and pay back the loan. Crazy thing called being an adult is and what should have thought prior to getting a loan. So default on the loan so the tax payer gets stuck with the bill? If only life was that easy.

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  23. At this point it's basically impossible to have a BS degree and make enough to live if you have student loans which means you have to go back to school and get more debt. It all feels like a scam to keep poor people poor of in my opinion

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  24. It was and will always be GREED.

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  25. Damn a twelve minute to explain the student debt crisis

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  26. You moronic liberals continue trying to blame "private institutions" and "privatization" for what is clearly a "government based inflation" problem. You can't get these sky high prices without printing money and throwing it to people who cannot pay it back as a sort of "right". There is no "right" to student debt, government needs to butt out. Period. It is a simple fix, and a simple cause and effect relationship.

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  27. I promised myself no more debt. No house no car no degree is worth it. Community college. Used car. Rent.

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  28. Just go abroad to study or community college cos wtf!

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  29. I like how this person acts as if the intention was to educate more people. haha.

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  30. I live in Canada so $9000 a year covers tuition and books and stuff but that's still unacceptable in my opinion I think education should be free.

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  31. Students have debt because loans are guaranteed by the federal government. Lenders took their profits and pass it on to the students. As with anything, when the government injects cash into an institution it creates massive constant inflation.

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  32. I only borrowed 15k student loan by going to state school in computer engineering then got a job as a software engineer getting paid 130k right out of college. Paid off my loan immediately. Now getting paid 190k 3 yrs later. Make right decision ppl. Life without a loan feels so good.

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  33. Go in state, duel enroll in high school, pay cash and work. It's really not too much. We need to get rid of student loans all together. Should be giving insured loans by the people to kids with 0 credit history. Once the loans are gone the laws of economics will lower the price. Getting out of school debt free is key, this way you can put 200-400 a month in your Roth 401k at your first job and be a multi millionaire at retirement.

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  34. Greed. The answer is greed.

    University in Europe is free. Masters programs in English across Europe are also free.

    People in Europe laugh at Americans for allowing their system to be as corrupt as it is. Theres no reason for your health care to be expensive, theres no reason it costs $23,000 to have a baby in America and theres no reason for your university to cost anything more than $500 a year. Neither should you be outfitted with a lifetime debt at the age of 18.

    The cycle will however continue, and for the banks and loan offices, thats the best part.

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  35. Really a long winded and not even very informative video. Basically here's the gist.

    First Universities are for profit and foiled every attempt by the government to pay for education by raising their admission rates to match however much the government was willing to pay.

    Second, the government gave up on trying to solve this problem and put Sallie May in charge of it, but Sallie May also went for profit and worked with the universities to deal completely unethical, undefaultable loans to people that were utterly incapable of dealing with them in a scheme to milk their wages the rest of their lives for profit.

    So basically higher education is enslaving you for life in exchange for your education and the banks and university are lining their pockets with the spoils of your future. And we are feeling the effects everywhere. Every other market in the damn country (except for cars, because Americans just LOVE them some depreciating assets) is failing because the banks own everyone's wages.

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  36. $15000 a year are easily doable as long as you do it intelligently. For instance the community college attached to the public school listed here cost less then $6000 a year. So a 4 year degree could cost $42,000 (2 years in the community college and 2 years at the state school) 42,000 is alot, but if you have a part time job from 16 to 18 ( 20hrs × 10 (or what your min wage is) which give you about $17,600. With that you would have your first two years paid for. If you live at home, go to school full time (three times a week can be full time) then you could earn another $17,600 and the rest could be made up as you go. No loans, and that assumes you dont get any grants. So no debt and you have earned your degree. Or, you could get pipefitter/welder/electrician/plumber certificates and make between $60-70,000 a year and it only costs you $12,000 and you can earn that with a part time job. It's not east but it doesnt need to be as hard as we make it.

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  37. It’s not a government made problem the blame goes directly in the colleges and universities who have raised tuition twice as fast as the rise of health care. Harvard charges $50,000 per year tuition and yet the have a 45 billion dollar endowment.

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  38. i like this fam. i got out of school before all this nonsense started happening. my student loans were 24k after a master's degree (2004) in engineering and the interest rate was around 2%. soon after, i started hearing other folks having higher int rates and higher balances. i had no idea it was this deep. now im concerned for my kids ability to go to college.

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  39. Private schools are a hustle and people are willingly going into the mouth of the beast smh

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  40. 4. Elimination of all student debt at one time.

    That's the LEAST, THE VERY LEAST they should have done for all students in debt by now!

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  41. I just graduated from my degree in Business Administration and I am at 50k student loan due to take out massive investments to finance my education. I do not regret taking out the student loan, but I wanted to get a college degree get out of poverty. I wanted to continue with my MBA in Agribusiness ( Agriculture business ).

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  42. Went to community college. Paid for it working 2 jobs while in school full time. Them transferred to a 4 yrs and finished up the remaining two years. Debt free !!!!! Dont chose a degree where you feel you have to get a loan AMD you're unable to pay back. If you get a high interest loan. Its YOUR fault. Stop bitching

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