[Part 2] Sallie Mae is the largest student loan company. We look at a 60 Minutes report on Sallie Mae and how Sallie Mae, with the help of government, makes a lot of money off of student borrowers.
Affordable Student Loans
Loan Consolitation and Guidance
Since the Student Aid and Fiscal Responsibility Act is in effect from July 1st, does that mean that I still need to borrow from Sallie Mae and deal with their shady practices? On the federal website, it says I can borrow up to a maximum of $31,000 federal direct loans, but I need $80,000 for school then that means I still need to borrow $50,000 from Sallie Mae. I’m so screwed either way…
Am I right on this?
@barbcinque I didn’t have room for this in the previous posts but here are debt free ways of paying for college.
watch?v=XjLJBZ8FVmY
@barbcinque About people getting higher ed degrees, I personally was lucky that I received a small trust fund and was stupid enough to live off it and go to school off it. However, I dodged a bullet by not taking out student loans. Now I have an AAS in Electronics and am debt free. Now, barely anyone gets trust funds but there are ways of paying for college that do not involve loans and if people go they should aim for tough engineering degrees, not worthless BAs in Sociology.
@barbcinque It pains me to hear that you have $97k in debt. I am glad that you teach the disabled (of which I am). I suggest that you buy “Total Money Makeover” by Dave Ramsey. He will show you how to tackle it with taking extra jobs at night and on the weekends while living on half of what you make.
Soooo I was told that Obama was going to start paying for college. Does this mean he will pay my student loans??? Where’s my $20,000 check???
Great video!
I am a special ed teacher. I make crap money and I owe 97 grand in student loans. I am terrified of how on earth I will ever pay back all of this money. i heard that high need areas will allow for loan forgiveness only I must work here for 10 years and then only 15 grand is forgiven and not on the interest. what the hell is that?
if pp stop getting higher ed. degrees, what kind of country will we have? Perhaps one that imports all of its doctors and scientists and mathmaticians etc.
@DontGoToCollege
My dad is my co-signer. I can’t leave. :*(
@reesescupbrandy1
If there’s a co-signer then they will have to pay the loan…
@jazztrio2008
They expect the same thing for me too..
@DontGoToCollege
You can leave the country without paying them? What about the co-signer?
when I finished school they said the same thing, I would be able to get a job with the snap of my fingers.. hmm?? wrong, sallie mae is a bitch..
Man I’m so glad I dodged this bullet. I went to school, paid myself, got “some” financial aid, but then almost two years in and enjoying my studies I did what I said I wouldn’t do and “got a student loan” but I made sure I only got what I needed for school, “nothing more” like most students do (keep the extra money) but after a while I had to quit because I just couldn’t afford it.
@HealingVibrations Umm if you really have an prescription for the drug then you probably could sue the school for all your money back plus fees. I would seriously go talk to someone in law who knows how to go about handling the problem.
well it is possible to flee the country to avoid paying the debt but be carefull because if you ever come back you may find yourself in big trouble especially if the loans are federal loans. If you decide to leave make sure its permanent, the issue is where will you go and work. most other countries will not hire foreigners.
@00dev
I read somewhere that many college grads are doing just that.
when i finish school should i just leave the country? to avoid paying insane amount of student dept?
@DontGoToCollege When you get in debt in a college program, the directors know you are in debt and cannot get out, the have you by the balls, the director of the program also got accused of sexual predatory practices by the students, but he is rich and has lots of connections so he gets away with evil deeds, thats how the world really works, people with money and power and connections enslave other people, its a power ego trip. most good non predatory people are naive until they get scammed
@HealingVibrations
That’s a tough one. I’m sorry to hear about that.
It’s hard to believe that a college would do that since you did nothing illegal.
I don’t think anyone can deny you an education. An education is something you are entitled to . You can learn to do whatever you want.
I was kicked out of grad school for taking a drug test and the drug that came up was a prescribed medication that i had the prescription for. I showed the director of my program the physicians script and he said that I still could not graduate because of this. So now I have 60,000 in debt and no degree. I tried to sue the school but the judge threw the case out before it could come to a trial. What should I do? The school got the money, denied me education, and Im stuck holding sallie mae’s bag.
I feel sorry for Allan, getting an engineering degree like that was almost impossible to achieve but he did it and what did he get in the end, no jobs. I hate those college scams and promises, nothing good came out of them.
The fallacy is “a better paying job is out there” all you got to do is pull yourself up by your boot straps. Why this is wrong is that geography, and demographics severely limit your options of employment. If you came from a poor family in Indiana used student loans to get a Computer Science degree. 1) Good luck finding a job in Indiana. 2) Good luck on finding money to pay for your trip across country in search of a better job. It is both a sham, and a shame.
@TurboGC8 What? I ask again: what has American Nationalism to do with Zionism?
@lexave That was in the Garden of Eden, you might have heard that story.
@Dhalgren01 Your mind still opperates under the delusion that those are “Schools of Learning”. Wisdom and Knowledge transcend the 3rd dimensional mental prison we live in.
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