Why student loans are a scam

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Information Why student loans are a scam

Title	:	Why student loans are a scam
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Thanks for watching! 😊 If you like the video, bSUBSCRIBE/b for more! brbrI’m also at → instagramcom/footdocdana & vmtiktokcom/ZMRh5Atyj
Comment from : @FootDocDana

My conversation with the loan officer went like this: “how much per month to pay it off in 10 years?” brThem: “2225x$/month”brMe: “set it at that payment”brLoans aren’t complicated and yes i know i didn’t have a lot of debt
Comment from : @Joe-pj7wh

To be fair, a lot of the math we learn up until college algebra can be applied to real world scenarios We are taught interest rates around 7th-8th grades Also, some people would rather spend 1-2k a month on a new car and insurance than pay off their loans
Comment from : @Icookadapizza

There are 2 thinga that i hate the most ekg and excel, i was forced to learn ekg to pass the exam, are you saying i need to learn excel too?
Comment from : @AABloodyAA

Some basic laws, investment, and basic medical knowledge like symptoms of certain cancers or organ problemsbrbrEveryone needs that knowledge from time to time in their lifetime, but have to google and guessing the answer
Comment from : @linchin1552

That you can retire earlier that 65 if you work hard and learn to invest your money
Comment from : @MacCready_

Schools should teach applied math (life skills) and math
Comment from : @sct4040

Meanwhile my entire family is on my case because I refuse to take out giant loans for college A couple of grand to cover what I didn’t save up for? If a scholarship drops me? If FAFSA Fs me over for whatever reason? Fine, but not TENS of THOUSANDS of dollars brbrI would rather graduate later with barely any debt than sooner with debt for the rest of my life
Comment from : @gem9535

That is so disheartening
Comment from : @HoneyyBee223

Absolutely disgusting that they are allowed to take advantage of people like that
Comment from : @sarahbostedt2352

But the government, doesn't matter the country, wants to keep its population a bit dummer Why would they want us to understand the consequences of our choices?
Comment from : @RaymondNok

Correct
Comment from : @anjugulla6361

Wow
Comment from : @burhack007

what a crock of sh1t Why such a low monthly payment on such a large loan? When i graduated 15 years ago i owed like $32k and the payment was like $400 something per month
Comment from : @jazzwealth4528

We had a government and economics required course for all students at our high school in Tennessee Half of the year was a 1hour and 50minutes government class and the next half of the year was economics It taught us everything about the US Government and how it worked as well as how economics works and smaller things like checkbook balancing and loans
Comment from : @TheNerdistheWord

alright let's not get political
Comment from : @javantm1676

Im so glad im a middle eastern 😅😁😁
Comment from : @mohammadal-kamsha4020

Loans for education purposes should not be charging interest above inflation
Comment from : @edmundprice5276

Because you pay only $200, that's stupid A thousand should be a minimum
Comment from : @euroteng2905

😂😂😂😂😂😂😂😂😂😂😂
Comment from : @Duke98765

Payback needs to be higher And rates lower
Comment from : @peterwhite8424

Our college system is a scam in America, you are overpaying to be under educated by a bunch of woke hipsters that paid too much for college themselves!
Comment from : @vr4runner

Disgusting America kinda sucks
Comment from : @JETTSTACHI

What I don’t understand is how they never noticed the similarities in other debts with interest My friend had gotten a car loan and credit card they never paid off and only made monthly payments on I had to explain to them the reason why you pay off your statement balance and the difference between 36 month car loan and 72 month car loan
Comment from : @avres13

The tricky part is that the monthly payment the servicer suggests will take decades to pay off the loan You have to make additional principal payments to get the balance down
Comment from : @ExpatMom288

How to love and function in a romantic relationship Human psychology and some therapy
Comment from : @Yfc1234

I thought loan interest was common knowledge I started paying off my loans when I was still in school (No interest accrued yet) and I always paid 3x more than the minimum I worked full-time and luckily was able to live at home until I graduated I paid it all off in less than 6 years
Comment from : @BlueEyedSoul21

seeing this makes me wonder why someone would set up their payments to pay just below the interest that is accruing on the loan?
Comment from : @xpert787

It’s ur understanding of Microsoft excel lol that is most impressive to me and yes I do believe student loans are a scam to saddle u with lifelong debt before ur even mature enough to know what u signed up for smh
Comment from : @hondaridinhoney7302

I’m in 8th grade and I’m learning loans 😭
Comment from : @IheartAlie777

In NZ in the early 90s, I borrowed 3300 and paid back 13400 They were docking my pay to pay the loan, so I assumed it was going down, but the interest was higher than the amount being docked :o
Comment from : @ForexRustProgrammingAustralia

Cutest doctor ever
Comment from : @GadGetHackss

I should be more grateful that in my country we have a very good public university with several campuses around the country that does not charge a single dollar to teach us and give us a degree, even if you want to go to a private university I don't think there is any that charges 200 dollars a month, at most 50 to 100 dollars each semester
Comment from : @thegranddukesupremacy756

Better to use real(/net) interest Because inflation makes your loan less valiable and usually your wage will more or less be corrected with inflation If your interest rate is below inflation rates it is actually financially sound to keep the loan
Comment from : @ThePipton

This is why interest is forbidden in Islam
Comment from : @AbdullahMikalRodriguez

Did people really not have interest and taxes in school?? I did in 10th grade
Comment from : @lakshmishreev8539

It should be taught STARTING IN HIGH SCHOOL In community college and universities Should be required
Comment from : @kathrynrealhealthtalk910

how to make money
Comment from : @VON-ic1gh

She should be paying $350 a month, doctor salary you can afford to pay more than $200 a month
Comment from : @alleycat3180

Student loans are a scam; doesn't guarantee a job after college; & garnishes your wages when you do find a job that doesn't pay enough to meet cost of living, like teaching End the DOE, remove administrative wage garnishment laws, fix problem with the economy
Comment from : @brutusmaximus5380

The rule of 72
Comment from : @taalmoseley5854

Pay just a little more per month and designate that the extra is to be paid on principle This means you are paying down the actual loan amount You will be shocked how that adds up over time So don’t let them automatically deduct your payments because they don’t want you doing this because it benefits them financially if you pay only the terms of the amortization agreement
Comment from : @nopenoway1519

But you make PLENTY of money to be able to pay it off in one go
Comment from : @Glubbdubdrib

bruh Im dropping out NOW
Comment from : @KumsaOljira-ok9yg

This is not how interest is supposed to work and no one should be taught this at school Avoid scams , point them out , don't accept them as normal This is fishing not by email but in an office I assume
Comment from : @VetusMundus

That's if you pay only $200 dollars a month Please don't make just flat payments on loans, pay it in full whenever you can & make sure you are knocking down that loan good
Comment from : @Thunderrr_

That’s just robbery
Comment from : @amrfarag7799

For an educated person you're pretty stupid Pay more than 200 Problem solved Now you owe me 10000 for consulting fees
Comment from : @TheMistacrazybones

Yep now I’m over here in more debt than I was
Comment from : @WhereIsKali

Funny story of mine:brObviously, at age 17, I had no credit, but because I knew that I had no credit, I figured I couldn't get a student loan, so I paid out of pocket for school brIt was only until a few years ago I found out I could've applied and gotten a loan from the very beginning 😅brBut knowing what I know now, I'm glad I never got a student loan brThis is the only time being naive saved me from a world of financial hurt lol
Comment from : @StarlitMoon13

I’m 23 and learned about interests rates and had a regularly taught financial literacy course DeSantis just made the course a graduation requirement too The terms of the loan were made known to you, it’s kinda your fault for signing something you had no idea about…
Comment from : @AlignWithJesus

people dont learn how loan works in this country? wtf?
Comment from : @Sodacacik

And the intrest paid on that Federal backed school loan PAYS FOR THE AFFORDABLE CARE ACT Proof that you CAN'T have your cake and eat it too
Comment from : @LisaEtter

Really? 200? They demand 1000 a month with no help and are threatening to garnish me Yet I spend 2000 of my monthly 2300 just to live I say don't pay especially if you weren't allowed to finish your degree
Comment from : @jacobkuykendall9325

Bro if you went to med school you took enough math that you could have figured this out
Comment from : @josiahrule6766

In Germany this dirty trash is illegal, im glad that we are protected by laws, you americans should try it
Comment from : @DisasterPeace1997

That’s why usury was impermissible under the Abrahamic faiths (well, Judaism allows Jews to use usury on non-Jews but not on each other)
Comment from : @sammu

Denying student borrowers bankruptcy rights is a brilliant ideabrbrThis enables employers to replace any employees who might demand better pay or terms with an employee who has a boot on their neck on the form of debt bondage
Comment from : @RandomPeasant123

They have courses to teach you these things like money management and finance, BUT they won’t tell those courses exist unless you’re becoming a financial agent Or that they say “You don’t need to learn this [blah blah blah]”, when you do That was my school, they would gaslight you and they don’t even know how to guide you at all The counselors were liars too…but that was my school
Comment from : @Whimsical_Cheetah

What I was taught was that I need to pay back more than the interest raked so that my interest every month would be reduced and eventually be paid back TAT
Comment from : @hq3727

And this is one reason more, why pay tax/pay rent is forbidden in islam It is usury and creates money out of nothing until the system crushes
Comment from : @gwennydoline2911

I will never forgive the people in past generations that normalized debt, biit should not!!/i/b 😠
Comment from : @maro_vela_22

Thats why this shit is haram
Comment from : @TreStyles-tq4le

Wait, how is the total loan going up every month? I don’t know how these American student loans work, but I do have a mortgage in Europe and the point is to pay off a fixed amount every month until the loan ends at a fixed year
Comment from : @Lumosnight

There is a reason most finance bros are from money If you like finance enough to major it in, the last thing youre going to do is get student loans 😂
Comment from : @cajunguy6502

That's why here on Brazil we have programs to make education more inclusive, not just with public colleges, but also with programs to make you only have to bstart/b paying your bprivate/b college a year after you graduate
Comment from : @sailormiku8710

Actually, to convert an annual interest rate to montly interest, you should not divide the result by 12 You shoudl actually take the 12-root of the annual interest to get the monthly interest
Comment from : @nordbymikael

Im so glad i was born in a country that doesn’t have student loan interest
Comment from : @ceililimoges8387

Why on God's green Earth would someone only pay $200 a month on a $50,000 loan and believe that to be even remotely acceptable?
Comment from : @lotsaspaghetticodejr6488

Someone needs to clean their monitor 😉
Comment from : @RedRad1990

Just learned there is interest in student loans in the US, am in complete shock with that
Comment from : @JordanW1101

As a mortgage loan officer, I can confirm, interest can be terrible and no one knows how any of it works brI’ve seen people with student loans that started as a few thousand from the 80s and 90s turn into 30K still owed in 2024 It’s awful and student loans are the worst at this
Comment from : @travelingman45

But luckily those loans keep the cost of education artificially inflated
Comment from : @JL-ul7xk

I got a dutch student loan with 0 interest
Comment from : @MetalMrJohnny

Wish showed more attention to paying off my loan
Comment from : @markmatthews3950

Don’t forget taxes They never teach you how to file your taxes
Comment from : @nice2meetUWenDoWeEat

Jesus Christ, that's because you don't get to pick what your payment is!brThe minimum is just the value of interest accrued in a month, anything further than that is the actual payment - there's a reason it's called MINIMUM
Comment from : @sirdeakia

america really is a mess cuz wth
Comment from : @thanos2830

I’m sus this is not accurate I’d argue it could be way more because your loan remaining amount interest accrues
Comment from : @avonzo

everyone who sees this, go learn personal finances and excel brbrand if you want to Become wealthy, go learn corporate finance and accounting (balance sheet, income statement, cash flow statement, discounted cash flows, present value, IRR)
Comment from : @hrviumhrvarium74

Money is fake like what
Comment from : @davidhenry7536

Even if this was taught, which it generally is, it's not like people have much of a choice 🤷🏽‍♂️
Comment from : @sphumelelesijadu

ngl compound and simple interest were taught in 8th grade direct application to irl situations were not tho
Comment from : @mochithatdarncat

How is there monthly interest? It's supposed to be pa
Comment from : @SynthuaVids

Getting flashbacks of highschool accounting class with these excel functions
Comment from : @amazingme894

Yeeep I worked in student loans for yrs I had explain daily how someone could have paid more than what they originally took out, and still had MORE than the og amount to pay off Student loans are extremely predatory
Comment from : @dariusreidace6663