Back 10 years ago when I was in college, people were putting the spotlight on administrative costs. Over the last several decades, University administrative costs have ballooned to match the cost of actually paying for teaching. Meanwhile teachers and untenured professors go underpaid. Many schools use "Adjunct" Professors, or professors who have no job security and never get tenure who get paid like $30K. On the other end of the teaching staff, you have tenured professors who are going past their 70s who never retire but keep getting bigger paychecks due to seniority. Meanwhile, administrators like the Dean or University President who dont teach at all get $200K-$500K paychecks. Another can of worms I won't get into is how Universities use their students as collateral to get loans for new building construction and renovations. That's why new buildings go up every few years. It's an unsustainable vicious cycle.
@bluehotdog2610
2 жыл бұрын
If the government controlled tuition and paid for it like in Europe, none of this would have happened
@MrMediator24
2 жыл бұрын
@@bluehotdog2610 US is too deep in unchecked capitalism to do that
@marcusb8765
2 жыл бұрын
@@bluehotdog2610 sadly even in Germany where tuition is paid for the system has ballooned. Universities receive money per student so they try to expand as much as possible.
@lagautmd
2 жыл бұрын
One of the reasons for the greater cost of administrators and staff is the increasing number of programs required by the Federal government. You can't have a massive tutoring program to help students who come from chronically underfunded K-12 system with having several layers of administrative staff between the on-the-ground tutors and the university President.
@Edzter
2 жыл бұрын
I did a degree in a country where it's free. And now doing one in NA that cost me a fortune. Here's the main difference i noticed: When it was free, you went to college like you went to school, but there was no control, you control your own education, if you fail, that's on you, and you can get expelled. What you do with your free time is also up to you. (this was 10 years ago). So I could just go to class, attend, do my assignments and move on. In NA, there's e-mails and notices every single day about extra social activities and all kinds of nonsense that most people don't care about and tend to happen during class-hours. It sounds neat, but then you gotta consider there's just people and administration doing all this work that nobody asked for, and if we had a choice, probably would've cut out of our tuition fees, and never use anyway. The teachers meanwhile are literally all part-timers while they do something else on the side. Not to mention the big expectation of your grade % and "GPA" for your future for all the money you dumped on it. Where they keep emphasizing how important it is, but then do not go the extra mile to help you on it even though you dropped a fortune for it. This has further been amplified in covid where just going in-person and ask for help is not possible.
@jonunciate7018
2 жыл бұрын
This didn't answer why college is so expensive, only why debt is out of control. I'd like to know what colleges do with all the damn money they get with the garbage wages some teachers/professors get. We have a labor shortage of healthcare workers but also healthcare teachers. Most of the nurses I know had to pay way more for a private college because the public ones are so competitive to enter. They want us to do the job so bad? Don't pay wall the education so damn much.
@FosterBaba
2 жыл бұрын
2 words. "Administrative costs"
@Fr00stee
2 жыл бұрын
Probably spend it on a building here and there then give it to admin
@spidermonkey2903
2 жыл бұрын
colleges aren’t really about the education anymore. With all the money those schools rake in, it’s pretty much a business at this point. They treat the students like the consumers and try to milk as much cash from them as possible.
@MeEntertainmentJo_876
2 жыл бұрын
There was actually a breakdown done on this in 2015. I forget the name of the place that did it, but of the average $36,000 a college spends per year educating an undergrad, only 49% actually goes to teaching. About a third of all money colleges spend goes to sports and administrative salaries. And I think it's 47 out of 50 states the top paid public employee is a college sports coach. If you cut sports entirely and reduced admin costs (a lot of which is consulting fees), it was estimated that a full year of schooling for a single student would cost like $25,000, and only $3,000 of that would have to come from the individual. That's at a public school of course not a private one.
@grimwaltzman
2 жыл бұрын
All the administrators, deputy administrators, sports coaches, diversity advisors, "smash the patriarchy" classes and a whole bunch of other unnecessary bullshit ain't gonna pay for themselves, that's for sure. If you remove those i bet you can cut prices more than in half.
@augustus331
2 жыл бұрын
The issue is, in my view, that the extra cost comes from administrative bloat and uncontrolled spending. In the Netherlands, student subsidies were changed into loans and the difference went straight into the universities to improve quality. However, uni's spent a lot of it on new buildings, recruiting events and administrative bloat. We have not enjoyed better education for the €20.000 in subsidies we miss.
@IshtarNike
2 жыл бұрын
The exact same thing happened here in the UK.
@simmerke1111
2 жыл бұрын
The only thing it has (or will) accomplished is diminishing the value of degrees. Universities shouldn't work under a system where the more students they attract, the more money they get to spend. It really devalues what that degree means, since they want as many people as possible to take one or multiple programs to rake in the money. Even with good intentions, it doesn't improve the education you're given. Good example of it are computer science graduates from The Netherlands. It's common knowledge that you know nothing when you graduate and you'll learn more through experience than you could in school. But some of the people we've had in interviews are just beyond helpless. My firm has always trained people upon hiring. Now we're seeing some people with a uni degree struggle on tasks at the start of these courses. Which has made it an absolute minimum for getting an interview for certain entry positions we often hired dropouts for.
@ColonizerChan
2 жыл бұрын
yep nailed it 100%. seeing constant construction only limited if they can't bulldoze a historic site or battlefield for another building. To be frank, the massive pushing for people to go to college since middle school at least, lack of social safety nets, and that people just go to college without a plan and just get a degree for getting one has all culminated to mess we can't contain at this point.
@Martiansfromthemoon
2 жыл бұрын
In england*
@cowllama123
2 жыл бұрын
You’re talking about a symptom, not the root cause Colleges get away with excessive admin costs BECAUSE the loans cannot be waived during bankruptcy. That’s the problem You can’t untie that either. Otherwise banks simply won’t loan to students because it’s too risky
@i3d3
2 жыл бұрын
There are many many jobs that are advertised as requiring a college degree when really they do not need a college degree. For a lot of office jobs, good highschool grades should be enough. A policy worth investigating is if government incentives for private businesses to drop college requirements where appropriate would have a positive effect. By subsidising more underprivileged students to go to college only puts more pressure on more people to also go to college to compete in the labor market, further inflating cost of education.
@robertb6889
2 жыл бұрын
Meanwhile we can’t find near enough skilled tradespeople either. There’s a big bias against blue collar workers, but a plumber, mechanic welder or electrician will often make more than many low level degree-holder jobs, but be viewed as a lower social class and as less “marriageable” or “datable.”
@skinWalkman
2 жыл бұрын
@@robertb6889 preach dude. People spit at the idea of trade schools but those students upon graduation will have an almost guaranteed income until they retire with most trades starting at around 30 bucks an hour. Instead of pushing kids to the 4 year, we as a society should push them more towards the trades.
@robertortiz-wilson1588
2 жыл бұрын
So many sensible people in this comment thread!
@KyurekiHana
2 жыл бұрын
@@robertb6889 indeed, there's so many stereotypes related to tradespeople in my middle to higher income part of Seattle. They are viewed as generally thieves and cheats, people who must be watched over. Meanwhile, they see office jobs as virtuous, especially management. It's crazy.
@MrGamelover23
2 жыл бұрын
@@skinWalkman but trade schools are only good for people who know they want that trade. If you don't want that trade, don't go to a trade school.
@KrzysztofBob
2 жыл бұрын
The key word here is “for profit”, which translates to “you pay more” or “limited access”. None of these mix well with the education, which is an investment in the future of your country. But hey, it’s America, which in last 3 decades became synonymous with in debt and overworked.
@1mol831
2 жыл бұрын
Failing job markets lol. Time for tangping
@adamperdue3178
2 жыл бұрын
I think that the fact that student loans are guaranteed removes a lot of incentive to restructure the financial aspect of universities. Many universities legitimately believe that the prices they charge are what's actually needed to run the university, because the university is filled with so much administrative bloat and hidden costs. The problem here is that in any normal business, there is an incentive to keep prices low to get more customers, but 1) Demand is inflexible, since having a college degree is practically required to get a white collar job anywhere (which is what most Americans want), and 2) The consumers have access to loans which means that no matter how expensive the college is, they can still go (humans are remarkably bad at rationalizing large long-term expenses). So, Colleges want students, to get more students, colleges are willing to dump money into tons of programs that are inefficient but look good. Colleges pass these costs onto their students. Students are willing to pay these increased costs no matter how high they get. Ergo, the college has no incentive to actually look through their accounts and figure out what programs they can drop.
@davezimmer9053
2 жыл бұрын
exactly. more loans => more money on the market sector => inflation
@rebellb258
2 жыл бұрын
The universities no longer have an incentive to keep costs low (i.e. they get paid on the upfront regardless), so they just name their price and people pay it. The ones on the hook for the loans are the US taxpayers, who actually have had very little say in how the prices are set. Make the universities responsible for the loans, and it will make them compete for students on price & not just academics / presitge.
@casualsuede
2 жыл бұрын
Meanwhile boomer criticize millenials, equating their experiences, even though it was a much different fiscal situation.
@dave_riots
2 жыл бұрын
Or maybe make student debt a thing of the past. Debt is nothing but an excuse to widen the wealth gap even further.
@rebellb258
2 жыл бұрын
@@dave_riots uhhh....so. how does this education get paid for then? Pixie dust? And before you say "the federal government" or "taxes" just know that the costs will only increase more and faster from what they are - then everyone is on the hook to pay for them whether they go to college or not. That is by definition less equitable.
@robertortiz-wilson1588
2 жыл бұрын
Agreed. If only more people understood that.
@bluehotdog2610
2 жыл бұрын
@@rebellb258 Then how did most European countries manage to have tax-funded universities without costs spiraling out of control?
@mix3k818
2 жыл бұрын
When will we talk about USA's city zoning laws? It's kinda stupid how pretty much everyone needs to own a car or else you're treated like a second-class citizen.
@TinyGiraffes
2 жыл бұрын
That's kinda of a state issue so much harder to deal with. It's also going to be hard to get support because of the costs associated. So together it's more of a fix over time issue.
@tescotrain
2 жыл бұрын
Yeah. Most cities in the USA and Canada are so dependent on cars that if you want to get basic things like milk, you'll need a car.
@STEP107
2 жыл бұрын
Some people dont want to live in the middle of a city. Some people just want to live in a quiet neighborhood. For the people who do want to live in cities most big urban areas are exempt from zoning laws i believe
@STEP107
2 жыл бұрын
also public transport in canada and the usa is worse than europe because of geography and size mostly. It costs way more to build rail in the usa vs japan or europe because the usa is so much bigger and has more difficult geography to maneuver that increases costs even more. China made a high speed rail network in a relatively large country but that project is now in massive debt and unable to pay back its loans the same would happen in the usa if we attempted that.
@TinyGiraffes
2 жыл бұрын
@@STEP107 You mean suburbs? because those are zoned that way and are subsidized by the rest of the city. The taxes they pay don't make up for the roads and utilities they use.
@darthplagueis13
2 жыл бұрын
It's designed this way. If everyone is always told that good jobs require a college education and there's just no regulation on how much colleges may charge... what do you expect? Colleges know that there's a guaranteed demand and that people who cannot afford the tuition will take on a loan, so they don't even have to worry about losing too many students to being unaffordable.
@catalindeluxus8545
2 жыл бұрын
Zéro. That is how much colleges should charge, like the rest of the civilized world.
@artemv3160
2 жыл бұрын
@Catalin Deluxus Shouldn't it be ruled out by the job market itself? If a job asking a college degree then it must have greater compensation than one that doesn't require it. A company that will drop college requirements will save some money and will be able to provide its services cheaper than competitors.
@paologat
2 жыл бұрын
The video conveniently forgets some key factors in student debt: - the skyrocketing administrative cost of colleges compared to the actual cost of tuition and facilities - students applying for loans to graduate in unmarketable disciplines, ensuring the debt will be a burden to repay - the perverse incentives pushing young people to enroll in college even when they lack the basic prerequisites to succeed - and I might go on. This does not excuse the predatory practices on the lenders’ side.
@FixTheDisc
2 жыл бұрын
Recently finished my 4 year degree in finance and accounting (with a bit of extra in economics and statistics) in Sweden, completely debt free. I worked around 8 hours a week while studying with a bit of extra hours put in during the holidays. (Think I had incomes at around 10 000£ a year). Cost of studying is mainly free in Sweden but not cost of living. A low interest loan is available if you study but there is also grant you get for studying at around 300£ a month (assuming you pass your courses) as well as some subsidies for living depending on your family situation (if you have kids), cost of the apartment and net worth. I got the grant and that's it. More then happy that the tax I've payed so far and will pay goes to this kind of solution! And while I have some gripes in that any course you read at university allows you to get the grant I never felt like this system was overly strict/lean/complicated and allowed for a stress free education with all the basic's of living covered. The one gripe I do have is that "any" university course gets you the grant. So lots of "non-practical", artsy courses allows you to get the loan and grant but that a personal opinion.
@markusklyver6277
2 жыл бұрын
@@CharlesNauck "The Americans complaining are C students that got a degree in Gender Studies at Harvard." Either you're a boomer or just really blind to facts. Facts are that this is a problem for *everyone*, not just the tiny minority who just happens to study something you don't personally agree with. I'm Swedish, being a master student here in mathematics, and I'm completely fine with the system. You don't have to worry about money and can spend the time focusing on your studies while also having some leisure time. And it's also not your college you pay for here, it's everything. Infrastructure, healthcare, public areas, pensions, job security. I know Stony Brooks Ph.D. physics grads who lived in houses with rats because COVID hit. You didn't see that here in Sweden. People can live cheaply in student apartments and just finish their degree without thinking about the numbers in their bank accounts. Sweden, and the rest of the Nordic countries, are as modern and as innovative as any other Western country... despite the taxes. Because in the end you just pay for other stuff in America. If you go for a tech job in NYC, your salary might be double that of Sweden, but so will your rent be. I don't think you can say either country is better to live in economically, you just have different experiences if you choose to live in either country.
@upbeatmushroom
2 жыл бұрын
@@CharlesNauck I’m not sure gender studies students at Harvard are complaining either. They are one of the most generous with financial aid no matter what you study. The ivy leagues have enviable treasure chests for financial aid,
@HumanAction76
2 жыл бұрын
College's have immense endowments that should used to lower the cost of enrollment, instead they have become a badge of honor of the school administration and they refuse to use them. There is also the issue with faculty bloat and over compensation, over spending on sports, and extravagant building projects that are also added to the cost. Finally the cost of books is criminal, $100 for a digital book written by the professor's friend should be a crime. There are many ways schools can cut the cost of education before tax payers are asked to contribute any more than we already are.
@bluehotdog2610
2 жыл бұрын
Endowment is not cash or a bank account. You cannot pull money out to do whatever you want. They aren't used because they generally can't be used.
@TysonJensen
2 жыл бұрын
And why exactly are the schools going to do this? The idea of benevolent private institutions and evil government is a persistent one in the US, and it’s killing the country. Schools won’t lift a finger until the federal government does something. If it forgives all the loans, schools will as if by magic find ways to cut costs to attract students in the new world where private entities will no longer want to be in the student lending business. If it modifies all the loans, similar pressures apply but less. Again, stop the silly childish narrative of “private good, public bad” if you actually want anything to happen.
@HumanAction76
2 жыл бұрын
@@TysonJensen It is directly because of government involvement in education financing that has caused the cost of education to go up. Why do you assume more government will cause the cost to go down? We need to try something different and less government makes the most sense.
@TysonJensen
2 жыл бұрын
@@HumanAction76 so you favor debt forgiveness then? Because that’s the only way to get the government out. Clean slate, drop all the government backing of the student loans, which means forgiving them because collecting them is continuing to involve the government. I’m a bit surprised, but not too surprised. It’s honestly the best argument in favor of student loan forgiveness.
@johnyarbrough502
2 жыл бұрын
@@bluehotdog2610 The colleges that enroll most students don't have big endowments and depend on state legislatures for a large part of their budget. Endowment money is often tied to specific programs or purposes. A scholarship or tuition assistance may be tied to a specific field of study and available only to students from a specific part of the state or even a specific secondary school.
@jakobibruh1258
2 жыл бұрын
Clarksville Tennessee high school grad of 2016. The TN Promise is so misleading and only covers technical certification or an associate degree at certain public universities. And has so many loopholes to jump through but it’s intent to pay remaining tuition balance is a push in the right direction.
@neeneko
2 жыл бұрын
I think it is also important to remember that universities are also locked into this cycle. People tend to write it off as 'they can name their price', but lower price and better education are still powerful marketing tools. When you look at University finances, they generally are not doing all that well either, all that extra money gets dumped into non-educational projects to keep them 'competitive'. They are having an increasingly difficult time keeping talented educators because, well, like the rest of the system, pay, workload, and stabilitiy are terrible, which are part of another pressure : industry. Industry has set a lot of univerity polices to make life difficult to educators in order to encourage them to, well, join them instead.
@danielseelye6005
2 жыл бұрын
Don't forget how much of that money's going to the University's American Football department and the coaches. They may sell merchandise, but those programs are being subsidized by taxpayers and alumni donations
@i3d3
2 жыл бұрын
Industries influence colleges and universities to create skilled workers there's demand for. IT firms want more IT graduates. Their aim isn't to take an educator to their office, it's to take a hundred talented graduates - the more graduates they have, the more likely an successful innovation is.
@detectivepikachu3161
2 жыл бұрын
literally a bunch of universities just got in trouble for price fixing. yes they are gouging us! I worked all through college and saved money wherever possible and still ended up 30k in student loan debt.
@TinyGiraffes
2 жыл бұрын
I'd like to see some evidence for that. My teachers meet me once or twice a week and so can teach a large volume of students. The idea that they have all the extra stuff to stay competitive doesn't make sense. If I could pay 10% less and have no extra stuff I, and many other people would highly prefer that. My colleges keep making upgrades to their campuses that are purely cosmetic. If it was a set of square concrete buildings and 30% cheaper then not one person would pick the current colleges. They do it because they think we care.
@robertb6889
2 жыл бұрын
Most football programs are a net financial revenue, they just wage that revenue investing in other athletics, upgrades to stadiums and facilities, etc.
@ricardomoura2360
2 жыл бұрын
So funny how Americans make it look so hard to have free colleges when literally the entire rest of the world have been doing that for like a century 😂
@harukrentz435
2 жыл бұрын
Always have free money for military though.
@aaronwinegar9724
2 жыл бұрын
Notably, other countries do that by constraining who can attend college. America let's anyone who wants attend college, which is another reason why the US has so many students -- it has a large percentage of foreign students who were told they couldn't attend college in their home countries.
@Ms666slayer
2 жыл бұрын
Not true, a lot of poor people in third world contries never go to Uni because they can't afford it, even if the cost per year is like 500 USD they can't afford it pretty much that happens in all of Latin Americam, if it was free everyone would go to Uni but is not, and btw that's not an issue of only indigenous people that live super far from the cities i live on the third biggest city in Mexico and i know a lot of people that never went to Uni because they couldn't afford it.
@fillherbut1880
2 жыл бұрын
@@aaronwinegar9724 America had free college for everyone till the 70s
@aaronwinegar9724
2 жыл бұрын
@@fillherbut1880 Take it from someone who comes from a family of educators: the US has never had free college. College in 1930 cost $10,000 a year in today's money, and it has increased ever since. What the US does have is a network of philanthropists who offer grants to pay for a certain number of students. And that still exists today, but the competition over those spots is now FIERCE.
@user-os1in7kt5j
2 жыл бұрын
Back when the institutions where the underwriters, they had a stake in the students being able to pay it back, ensured good education as an investment vehicle for the school and kept costs low. Once the government stepped in and guaranteed the loads. The schools could name price, and open doors to many more students.
@rebellb258
2 жыл бұрын
@@chemicalfrankie1030 It wouldn't eliminate those degrees. It would just make it harder to go into debt to get the degree. If a lender doesn't think that a degree will allow you to make money & pay back the loan, the wise lender wouldn't give the loan (or charger a higher interest rate bc of their increased risk). If someone wants to get a degree that doesn't have an anticipated positive ROI, then they can cashflow it or find private funding.
@chemicalfrankie1030
2 жыл бұрын
@@rebellb258 but the facto, if for those degree the interests were higher and/ or the loan were not to be given, you would limit so much the number of applicants many would disappear. Don't get me wrong, I agree 100 per cent with what you are saying, but it goes against the mainstream opinion that college has to be accessible to everyone. Your proposal, if I understand it correctly, would be 'positive ROI degrees accessibile to everyone, negative ROI degrees not'
@georgewright4285
2 жыл бұрын
@@chemicalfrankie1030 liberal arts were for the very rich (hence why they are called liberal arts, because in ancient Rome, only free people studied those) for a reason: it is not enough in 9 cases out of 10 to pay the bills
@bluehotdog2610
2 жыл бұрын
@@chemicalfrankie1030 And the amount of people going to college should be limited. There is way too many people in college now
@eksortso
2 жыл бұрын
@@bluehotdog2610 Which is reason enough for the federal government to stop guaranteeing student loans to such a great degree. By cutting guarantees across the board, you wouldn't be playing favourites. Scholarships would become more valuable, especially for lower-income families with talented kids. Loans would be reduced overall to more manageable levels for everyone involved. And unless it isn't obvious, the huge glut of college enrollments have made vocational and technical training much more valuable, which would only become more valuable as high school graduates would seek practical educations from institutions that can connect them with the workplace.
@Croz89
2 жыл бұрын
I think it's worth pointing out that there's quite a wide range in US student fees. Many state and community colleges have lower fees than England & Wales, the average public college cost is only about $10,000 p.a. and for community colleges it's about $5,000 p.a. for in-state students. This compares to $12,500 p.a. for pretty much all English and Welsh universities. But private universities in the US counterbalance this by charging enormous sums, around $36,000 p.a. on average. There's also the question of scholarship, in the US it's not unusual for a large percentage of students to have their education partly subsidised by the university. Some are based on an applicant's background, such as if they're from a disadvantaged background or an ethnic minority, but many are purely based on merit and open to all.
@enta_nae_mere7590
2 жыл бұрын
Debt for perishables has never made sense and taking it on is a sign of bad finances. You wouldn't take out a loan for a sandwich, and a bank wouldn't issue one as the asset cannot be reclaimed. A business or house can be reclaimed and as such it makes sense to issue or take out a loan. When businesses start needing to take out loans to cover labour costs you know they're about to fail. But when the US is taking out loans to pay for tuition this wasn't seen as a warning sign, it always should have been.
@jackali5014
2 жыл бұрын
LOL the GME joke i loved that
@darthplagueis13
2 жыл бұрын
Frankly, I think if the US really want to not have free college (and living in a country that pretty much does allow me to study for free) I think they should at least reverse and change some of the most braindead decisions made in the past. 1: Re-nationalize Sallie Mae. Student loans started off being a federal project, return it to being one. 2: Drastically lower interest rates. Student loans do not need to be finanically profitable. The profit consists of improving education across the board as well as the economy being fueled by hundreds of thousands, if not millions of students being able to spend more money, thus fueling the economy. I can only keep on repeating: Money is infinitely more valuable in the hands of people who don't have that much of it. If you give a million dollars to a millionair, it's just gonna be sitting on a bank account with chances being that if the millionair ever spends them, he'll likely manage to somehow defraud the state out of a bunch of taxes as well. If you give a thousand dollars to a thousand working class citizens each, you know that they are going to be spending it throughout the next few months, on food, entertainment, rent, gasoline etc. whilst paying the full sales tax one everything. To the economy, money only exists when it is spent, and rich people are bad at spending money.
@1mol831
2 жыл бұрын
Biden will have an immediate spike in popularity if he is able to forgive all the student debt.
@warmth9140
2 жыл бұрын
I'm more of the idea that a middle class person is more likely to have inactive money than a millionaire that if not defrauding has incentives to reinvest it....or just build more half empty malls. But what do I know.
@steamdeco
2 жыл бұрын
Here's a WILD idea: *Just fund public education.* Enough with insisting that we squeeze the 'Free Market' in our public services.
@willbowden6897
2 жыл бұрын
It should also be noted that the people who have the most student loan debt typically went to a private university without a scholarship and then went on to grad school as well. They also often (but don't always) have higher incomes since doctors and other high paying professions are usually near the top in terms of debt. While student loans from state schools are still much too high, they don't reach these levels most of the time since there just isn't a large enough principal on the loan for the interest to reach those levels, assuming you keep paying them off and don't miss payments. It's just another wrinkle in how it works.
@bluehotdog2610
2 жыл бұрын
So what? Even $1 of debt is too much, especially when virtually every other first world country managed to figure out how to make college free.
@pedanticchicken2117
2 жыл бұрын
@@bluehotdog2610 "free" it ain't free, the pay more in taxes. That's the difference. in the US, the philosophy is that if you want a better education it is your job to pay for it while in many other countries that put the cost of society as a whole
@bluehotdog2610
2 жыл бұрын
@@pedanticchicken2117 No. In most European countries, it is the rich who are paying the taxes. The average person isn't paying for their college education
@IshtarNike
2 жыл бұрын
This is irrelevant. 1000 dollars in debt for a poor person is more debilitating than 100,000 dollars of debt to a rich person. Just because better off people have student loans doesn't mean they shouldn't all be cancelled across the board as they are usurious and unjust. Poor people would benefit more because of what I mentioned above. The burden is not about absolute values but about debt relative to income, assets, and career prospects.
@upbeatmushroom
2 жыл бұрын
@@bluehotdog2610 I’m not saying it’s a great system but it’s mostly the upper middle class and above who are paying these enormous sums you hear about. Most if not all public schools are practically free for people below this financial threshold (my college was completely free and I received stipend for living costs too) and good private schools are even more generous. At Ivy League very common that students pay nothing if their parents income is below a pretty generous threshold like $250k. There are however way too many predatory private “colleges” out there where people get saddled with terrible debt.
@Spencer-wc6ew
2 жыл бұрын
Americans would rather get taxes cut in half than their salary tripled, because people who don't deserve it would get raises too. I think that sums up the type of mentality that's creating a lot of these problems in the first place.
@ems7623
2 жыл бұрын
The attitude you describe is real but I don't think this is pertinent to the situation in American academia. Those kinds of populist politics are not prevalent in the higher education sector.
@Adyen11234
2 жыл бұрын
While this issue does not affect me, I would feel that forgiving the ENTIRE loan might be too much. As you mentioned, the money being spent in different area might be more efficient, but at the same time the amount of student loan per student is very crushingly heavy - just not as crushing as UK student loans. Some kind of compromise would probably be wanted and needed in the end...
@nicholase2868
2 жыл бұрын
I went to a 2 year college and was always impressed by the quality of the facilities given the price. Then I transferred to a 4 year state college and was deeply disappointed. It was like they weren't even trying, it was a step down from high school. After one semester I decided it wasn't worth the money. I don't know how anyone can say its worth the amount of debt you get saddled with.
@stevejohnson3357
2 жыл бұрын
It's a little like public transit. If you enter a public transit vehicle you get a cheap ride (on the provider's terms) but if you have to pay the full cost, you will drive the cheapest thing you can find and the roads will become unusable. In the case of education, you earn more with your degree but everybody gains from your education and the research your institution does. If you have to pay full cost, everybody else gets the benefits for free.
@marylynn8386
2 жыл бұрын
As a German it's also interesting to see that in the US you have no other choice but going to college to have a decent paying job in the future. Here, you can also have an apprenticeship where you learn lots of jobs and professions. Want to be an IT specialist? Get an IT appreticeship. Want to be a nurse? -> Apprenticeship. You're hired by a company, they pay you a salary (althought it's often quite low because you're still learning). After these 2-3 years there you are: decent paid job, no debt, even got paid a bit during the process. University here is only for the top 10% of jobs, every other job you go through an apprenticeship. In the US, however, most jobs are gatekeeped by college and this means an overwhelming amount of debt (and interest!). another comparison about interest: as a student, I got a total loan of 56.000€ but I only have to pay back 10.000€, no interest on that loan. And I have, depending on my job situation, 7- x years to pay that off. Even if it takes me 20 years, no interest charged.
@robertduluth8994
2 жыл бұрын
@@i0li0il0i I'd lie to hear about these missed opportunities, the trades are a well known one what else is there?
@ems7623
2 жыл бұрын
I've admired the German approach for quite some time but I'm also aware of its drawbacks. One notorious drawback is how early the German education system tends to lock students into a future career trajectory. This might be incompatible with the reality that young people are still learning who they are, what they want in life and what their capacities and interests are. The American system at least allows for greater flexibility for those people who deserve a chance to recalibrate their goals and ambitions. Perhaps, i would argue, not in the right ways for our modern world. It would be better to give people more flexibility to change careers later in life by returning to education without costing them a fortune they'll never be able to pay off. This would be better for individuals who experience life changing events or circumstances - including major shifts in the employment sector. Nevertheless, i still find the German approach, overall, to be more pragmatic and responsible for *young people*. Imperfect, but better. In general, many of the problems in the US can be traced back to the Cold War fetishism of a deregulated free market. There are millions of people who are quietly living financially stressed lives, who hate their job, whose talents go underutilized or underpaid. Americans are a deeply unhappy people. The evidence of this is in job satisfaction numbers, personal debt figures, a nationwide mental health crisis, and income disparity figures that are comparable to those of corrupt oligarchies like Russia. I honestly do not know that the situation will improve in my lifetime. Those who do well under the current system refuse to acknowledge the problem and no one is willing to see the entire system collapse for fear of how it would destabilize what remains of the allied democratic world.
@Jack-fw4mw
2 жыл бұрын
Not mentioned: College costs first went up in the US in California, when Ronald Reagan was governor. He did not like the protests they were engaging in, so he retaliated by raising the cost of education.
@PhishyBusiness
2 жыл бұрын
Still find it funny how people are pushing harder for cancelling student debt than medical debt
@user-os1in7kt5j
2 жыл бұрын
treating the symptoms in both situations does not fix the underlying issue. Forgiving debt in either situation is a vile moral evil on the rest of society because they have to shoulder the consequences that exceeds the issues caused by the wrong choices of others.
@chemicalfrankie1030
2 жыл бұрын
@@user-os1in7kt5j well put
@JollyOldCanuck
2 жыл бұрын
@@user-os1in7kt5j Depends on who holds the debt, in Canada the majority of student debts are held by the government making it relatively easy to cancel debt or student loan interest.
@IshtarNike
2 жыл бұрын
Medical debt is privately held. Federal student loans are held by the government and can be cancelled by a flick of the president's pen.
@IshtarNike
2 жыл бұрын
@@user-os1in7kt5j that's not true at all. The federal government does not need that money and would not need to raise taxes to "pay" for it. That's a lie they tell you to keep you in chains.
@Veriox22
2 жыл бұрын
Videos like these make me be thankful that I am from Europe. Here in Greece, private universities don't exist by law.
@gungan5822
2 жыл бұрын
Most universities in the US are publicly funded whether they are state schools or not, and many state schools are no cheaper than private schools. It makes no difference. Extravagant costs in both cases. The ones that run like an actual business, however, have lower costs and thus lower tuitions (University of Phoenix, for example). In the same way, charter schools provide the same level of education at lower costs per pupil than most states schools because they don't need to fund expensive facilities.
@MrDanielfff777
2 жыл бұрын
You would rather live in Greece than the USA? 🤔
@bluehotdog2610
2 жыл бұрын
@@gungan5822 You do realize the University of Phoenix is known as a scam?
@MrBrannfjell
2 жыл бұрын
Education should be free, educational bodies should be paid based on how many students enroll there, and how good grades they get (through tax). That way costs don't spiral out of control, competition remains between academies. Suddenly its in the academies best interest to teach as many people as possible, and teach them as good as possible. And the students dont get crippling depth, and there is greater equality among people. Its not unfair for people who don't educate themselves (even though they pay those taxes), because they are able to take advantage of a smarter/intellectual society/community.
@dain6250
2 жыл бұрын
Boomers kneecapped an entire generation in the states because of this issue. Every single kid I went to school with was told by their parents to go to college if they ever wanted to make a good living. For millennials like me who graduated just before or just after the financial crisis in 08, most of us steered clear of trades because there was no work and no money in it (at the time). I managed to get out of Uni with a modest amount of debt and did graduate school overseas for free, but plenty of people my age owe amounts of money they'll never pay off, even with a stem career. So loads of us never had kids because nobody has money or time for it in the current gig economy. They're too busy juggling a career and uber or door dash since we make less than our parents did with high school degrees.
@davis3138
2 жыл бұрын
I think a good way, instead of debt cancellation, is to give people money to pay off their debts, whether student debts or otherwise. If you just cancel student debt entirely, it sends a message to responsible people (the people who went to a cheaper college, the people who paid their loans on time by taking a second job, etc.) that irresponsibility (taking out frivolous student loans) is to be rewarded. But if you give money equally to everybody, the people who are swamped with student loans can pay those off (to a degree), and the responsible people can use that money to put towards, say, a house or a car.
@bluehotdog2610
2 жыл бұрын
The people who paid off their debt made the good choice of being born earlier back when college was way cheaper.
@ems7623
2 жыл бұрын
There is nothing "irresponsible" about acquiring student debt when there is no reasonable option not to. I have no idea what a "frivolous student loan" is. The fact that you would consider obtaining a degree "frivolous" reveals a serious flaw in your value system, not to mention your capacity for empathy for the choices people might make when just beginning to try to find their way forward in the world.
@tedarcher9120
2 жыл бұрын
It's because there is no connection between price and demand. Colleges can just put whatever price they want, even if they don't need money
@tanjoy0205
2 жыл бұрын
When government provides artificial demand and universities don’t care about their students .
@swron_rules
2 жыл бұрын
Instead of messing up the economy on giving up the debt. What they need to do is reconfigure the loans for those who need it reconfigured and possibly freeze the interest build up and fees. While also lobbying within state governments on how certain colleges run stuff. For example at a four year college in my state 1 student over the span of 4 years could rack up AT LEAST 60k in loans from just room and board straight from the college. Whilst this only being for 2/3 of the the years which is insane and stupid. Since most of the dorms had no a/c and so much of the food went to waste. If they were able to somehow get the prices of room and board lower via the federal or better yet state wide governments it would make the tuition costs and other costs like books seem a lot more reasonable. Also people shouldn't be in college for a ton of years knowing what they want to do switching majors or getting multiple majors with a low job pool.
@amyspeers8012
2 жыл бұрын
I’m am American living in France. We moved the year our only child graduated from a state university. We were able to pay for his education. He received a double degree which took 5 years. It cost us, including room and board, $100,000. When I tell that to my friends here in France they are shocked.
@TheExplorder
2 жыл бұрын
@@chemicalfrankie1030 Funny, because you're pay more in the States in the end. But it isn't called tax in the States, but fees or payments. In France; Up to 10.000 euros a year isn't taxed at all Up to 30.000 euros a year 14% Up to 70.000 euros a year 30% If you make up to 151.000 euro's a year, 41% In return healthcare, 20 weeks parental leave, college, child daycare, etcetc is covered under that system.
@TheExplorder
2 жыл бұрын
@@chemicalfrankie1030 I do think that I'd like to live without the worry of going bankrupt, of the price of an ambulance, or the costs of delivering a baby. I think I do prefer a country, that mandates every company to give at least 5 weeks of paid vacation a year. I might have a bit less money, might not drive the biggest Ford F150, I guess the European mentality is more towards enjoying life with a bit less, and that in the States, unrestricted capitalism results in "the bigger, the better."
@TheExplorder
2 жыл бұрын
@@chemicalfrankie1030 And I get why, if you grew up in the States, and you always had that "socialized medicin = Venezuela" hammered into your brain, and in school was taught that Americans were the most free people, and the most free country, then I could fully understand why someone wouldn't be interested in the European system. Also, the fear of big government, in the south of the States, it starts to make a lot of sense, when you realize that it were mainly Spanish people who settled there and then fought an extremely bloody civil war in 1810, against Spain, what left a permanent scar into the people and a severe mis trust in government that's not even close to the state itself.
@lucadesanctis563
2 жыл бұрын
I can hate my country for many things, but school tuition is not one of them. Italy one of the lowest tax rates in Europe for University and I'm grateful for that
@chreinisch
2 жыл бұрын
imagine after they finished "College" to find out that there is an University
@stephen.
2 жыл бұрын
They honestly could just cancel federal student loans and do a reset. More relaxed payment programs, putting a cap on how much in-state public university can charge residents, and increase the pell grant. There shouldn’t even be interest on federal student loans because they’re funded with taxpayer dollars. I’d support a cap on textbook prices too because the cost can be $300-$500 a semester.
@KeeliaSilvis
2 жыл бұрын
I'm American, and I went to a fancy liberal arts college that cost ~$50k each year. When I explained to my European friends that the price tag for my college was ~a new car EACH SEMESTER, they were horrified. I didn't pay the full $50k thanks to grants + scholarships + work study programs, and I worked multiple jobs throughout college, so I only left with over $20k in debt (most of my friends had 2x or 3x, even if they went to more reasonable state schools bc THERE ARE NO GOOD OPTIONS for Americans anymore). I was able to pay off that debt within ~5 yrs, but ONLY bc of incredibly generous support from my parents. I lived with them rent free, and I put literally 80% of each pay check towards my loans until I paid them down. Most of my friends--and most Americans--aren't so lucky.
@RomeoYouMust
2 жыл бұрын
I love the channel. Good video!
@cosmedelustrac5842
2 жыл бұрын
As a european, I think that college should be free.
@popelgruner595
2 жыл бұрын
Yup. Same.
@popelgruner595
2 жыл бұрын
@@Newt1969 Which actually is already proven false. Back in the cold war when Germany had 500.000 soldiers in active duty, more than double of what we have now, we still had free education both in vocational school and academic education. And yes we EU EUropeans would LOVE to build our own military structures outside of NATO, without the control of the US and interference of the UK but it is the US who won't let us install them... So go and tell YOUR government to let us EUropeans build up our own thing without them controling us.
@popelgruner595
2 жыл бұрын
@@Newt1969 this is a direct consequence of WW2. Since then a German government is merely a puppet of the US and the US ensures it's influence by several organisations they sat up which indirectly control party structures of the CDU, CSU and FDP, three parties that ruled Germany all the time since it became the FRG except for the 7 years of the SPD-Greens coalition 1998-2005.
@cosmedelustrac5842
2 жыл бұрын
@@Newt1969 The fact that we spend on college dosen't mean that we don't also spend on defense.
@billsoderholm3125
2 жыл бұрын
In the 1960s, and later, public colleges and universities tuition was subsidized at 60%. Now it is between 9%. Anyone can do the math and see why tuition is higher.
@axellacaze9115
2 жыл бұрын
I think even with a 60% coverage, the pruce would still be way more expensive in inflation-adjusted term than it was 20,30 or 40 years ago.
@SmallAngryNerd
2 жыл бұрын
i got a pell grant for my last two years of college. it barely made a dent.
@christopherallen4195
2 жыл бұрын
TL:DR SallieMae is bad, colleges bear no blame. So, SallieMae, who has no control over the tuition and fees of a college is to blame. And American universities, which control 100% of the cost of those items, bear no responsibility for the student debt crisis. And collages inflated those costs by ~10% per year over the last three decades, but they don’t get any blame. Got it.
@jasontasie6778
2 жыл бұрын
Very informative video
@DarkElixir-iz7jk
2 жыл бұрын
Hey TLDR, y’all don’t seem like a bad news source, but It’s hard to tell in the current state of news media today. Is there anyway that you can state your sources in videos like this? If not in the description then at least on like a website or something. It goes a long way in 2022.
@alexandrekuritza5685
2 жыл бұрын
thank you for doing a video so truly neutral and not leaning towards either the right or the left, and just *facts*
@phineas7423
2 жыл бұрын
9:21 I see no reason why both canceling student debt and increasing education subsidies can't be implemented at the same time.
@loowyatt6463
2 жыл бұрын
I think most people miss the point, most countries have the issues mentioned but we don't have that much debt, it's just another example of America being too bureaucratic and capitalist, just like it's health system it tried so desperately not to pay the bill, it ends up spending more
@joshuacruz3073
2 жыл бұрын
This is just my opinion from an outsiders point of view: Canceling Debt is a bad idea, that's money basically being given away and not solve the root of the problem like the cost of tuition and interest rates, if the Gov. really did cancel all that debt, it would cause a negative response the students can take advantage of and restart the whole cycle of crippling debt and debt forgiveness all over again. The primary concern is the burden of the cost placed on the shoulders of the Tax payer, If the Tax payer have to shoulder all that debt then they must have the guarantee they'll not only graduate but land a good paying job as to not feel the Tax burden at all. The quality of the nation you live in is based on how responsible the Tax money is being used to maintain that quality, if your Tax Money is being used responsibly then you are actively making the nation better that should loop around to increase your quality of living. Just an idea.
@bluehotdog2610
2 жыл бұрын
Yet, most European countries have free college without any issues. Tax payers have to pay for foreign aid that does nothing for the average American, so having the government pay for college is not unreasonable
@Agentsierrabravo
2 жыл бұрын
Cancelling it will help but the most obvious solution is to nationalise the companies that do this shit
@LadyofGreen99
2 жыл бұрын
Another issue on top of it is that too many people get into a degree with a lot of niche, that doesn't exactly have a lot of job opportunities: Psychology, for one, and Gender Studies, for another. Because there's only so many jobs in those specific fields, the people will have to compete for those few jobs, or otherwise, have to go back to back to school to get a degree in a different field with better job prospects. I've talked to at least two different people who were both older than me, take courses in psychology, get their degree, became unable to get a job, and then had to go back, which also doesn't help this issue.
@ryanvoll7088
2 жыл бұрын
If college student numbers are falling, I can see colleges increasing their tuition fees. But the amount it grows each year is ridiculous, which is probably why their student numbers are falling. It’s like a cycle paradox. Like the guy who goes into the past to cause his own birth, but if he doesn’t go back, he doesn’t exist. So the same cycle continues.
@borg286
2 жыл бұрын
I tried to gather tuition data from the major colleges to calculate this supposed rise in tuition and I couldn't find a decent place to collect it. It makes me wonder where the reports got their data from. I implore you to dig and find the source.
@paul1979uk2000
2 жыл бұрын
It's crazy how expensive it is in the US, I mean when I went to collage in the UK in the mid 90's, I didn't spend a penny and if I recall, I think the collage even paid for all my books, pens and things likes that and that was a 4 year business study course that I had the option of doing 2 or 4 years, I did 2 and didn't spend a penny apart from my own lunch lol. I have to say that if I had to pay what they pay in the US, I suspect a lot of us wouldn't even bother going which likely hurts the education level of the country.
@AndreaMarGon
2 жыл бұрын
Who will keep lending money if debts can be forgiven following politicians' mood? Of course some jobs will always require College, but some companies realized they don't really need it. Our colleges are cheaper in Europe but many end up working in the US due to your higher wages.
@nathanngumi8467
2 жыл бұрын
Very concise explanation of a growing crisis. The taxpayer-funded option can work, it seems to do so in some countries in Europe like Germany... But this goes hand in hand with increased taxes. It is a trade-off that citizens must be willing to accept.
@LaFacedera
2 жыл бұрын
You only talked about the price of higher education and how students finance their studies, not the costs structure of the services provided by higher education institutions. It would have been interesting to explain that since, as a European, I don't understand why education is so much more expensive in the US.
@yeetntnt2903
2 жыл бұрын
**Laughs in Scottish**
@roses2155
2 жыл бұрын
I'll keep it brief. The story shared above doesn't tell the whole story. There's a lot more to consider including the expansion of worthless degrees, resort-style campuses used to recruit, no incentive to cut costs when the government guarantees loans, bloating administrations where teachers/professors are in the minority on the employment roster, and non-educational programs designed to increase the school's public profile (sports, fundraising, etc.). The secondary school-to-college pipeline has been shoving students into this choice even in cases where they should have considered trades or associate degrees. The student should have some skin in the game. Free college translates into a four-year resort vacation in pursuit of whatever makes you happy, followed by no job.
@sethhartley7369
2 жыл бұрын
TLDR's tl;dr: "So, what happened? ronald reagan..."
@soccerguy325
2 жыл бұрын
Just a note for you guys - (1:18) Jimmy Carter did not serve in WWII, so it is untrue that the eight consecutive presidents after the war were all veterans.
@DarkflameAmv
2 жыл бұрын
Forget the US, Applied as an international student in Canada and found out I had to pay almost triple the price compared to local students. Luckily it was in installments so its just barely doable.
@fos1451
2 жыл бұрын
You should just apply in the US if you’re an international student, the cost is basically the same
@DarkflameAmv
2 жыл бұрын
@@fos1451 no, the school in question is in canada. They added around 15k cad on top of the regular price and since I'm international the exchange rate is also taken into account, 1 cad = 326 of my local currency.
@upbeatmushroom
2 жыл бұрын
College is indeed super expensive compared to other countries but one important thing to note is, due to financial aid and scholarships, most middle and all lower income students get some if not all of their schooling paid for. It’s especially generous at Ivy League universities , where a family making under thresholds as high as $300k may end up paying very little.
@ems7623
2 жыл бұрын
You're minimizing the extent of effects of debt on students. The net effect of finish aid programs on total student debt should be obvious to you from the numbers of student debt nationwide - even more so if you look into the statistics concerning how long on average it takes individuals to pay back that debt. This had a knock on effect on long-term finsncial prospects. And that, in turn, has all kinds of ramifications both social and economic.
@upbeatmushroom
2 жыл бұрын
@@ems7623 Student debt is indeed punishing for those who carry it but I'm just pointing out there are many ways middle and low income students can minimize or avoid debt these days. I myself had only about $10k of debt coming out of college which is fairly reasonable for a college education. Of course the whole system should be reworked so no one has to carry incredibly high amounts of debt.
@judychurley6623
2 жыл бұрын
Well, its not. State university in San Diego, CA: $7700 a year. BUT if you need to live in a luxury apartment and borrow, not save for school, never work while at university, then, yes, you WILL leave the university deeply in debt. That is a choice, not a crisis.
@widodoakrom3938
2 жыл бұрын
Became doomsday prepares seems like better than going to college in USA lmao
@lorrygoth
2 жыл бұрын
I'm a Canadian and in a few months it will be seven years since I had to drop out of college for mental health reasons, I am still unemployed and owe all my college loans so I need to file for bankruptcy or I will still owe them when I die.
@aidanprinsloo3431
2 жыл бұрын
There is another systemic flaw with the way US student loans are set up: students can borrow up to the Cost of Attendance (COA), and the universities set the COA. That essentially means that universities are guaranteed that they will get enough students who will pay tuition fees regardless of the price they set. This is an unregulated part of the system: the US DoE does not limit or monitor universities' fee-setting each year; only the extent to which past students default on repayments. With this feature, student loans bypass a key moderating factor in most free-market systems.
@gregsquires6201
2 жыл бұрын
No explanation of why fees when up 1200%
@mauriciorv228
2 жыл бұрын
Never cut education and make it a for profit business. BIG MISTAKE
@pointly
2 жыл бұрын
I don't have Student Loan debt but I think removing interest would be fair. In the future, I think students need to be more careful and go into a degree where they can get a job instead of what ever is trending.
@bluehotdog2610
2 жыл бұрын
Except no one knows what degree will pay well in the future and which won't. You can already see this with engineering. A few years ago, engineering was a high-paying field. Now, people are fighting to get paid dirt wages because there is way too many engineers now.
@kevinaguilar7541
2 жыл бұрын
In my opinion, students need to be more active in finding scholarships and there is a bunch out their. Also, they shouldn't go to colleges that they clearly can't pay for.
@Ms666slayer
2 жыл бұрын
@@bluehotdog2610 Yes you can, 10 years ago the IT and programming was starting to get big a lor of friends o mine took notes and studied programming and IT, know the market is booming an they are making bank, also your engineering example is not good because there are a lot of different types of engineering, and some of them are supe sought after, a friend of mine graduated recently as a medical prothesis engineer and he is making bank, a friend of mine also graduated at material engineer and he is making lots of money.
@Manuel-gu9ls
2 жыл бұрын
My friend in Instagram said College in Texas is tax friendly and can pay off to a minimum for a degree worth 4-5 years, I'm not sure if it's true or not but one thing for sure that colleges in universities in America are very expensive so he doesn't know much about the current status in America
@bittersaint8831
2 жыл бұрын
Sallie mae provides loans. Discussing Sallie mae does not take into account the inputs that cause sallie mae to hand out large burdensome loans.
@Mr.MooseTheGreat
2 жыл бұрын
Our generation is simply choosing to not have children and having rental properties to pay our outlandish rent responsibilities (in Southern California). At the end of the day you have to work harder and longer than most to actually succeed
@masi416
2 жыл бұрын
I don't get it. At 3:05 college enrollment rised and that lead to higher tution. Why? Usually the economies of scale goes like, if you double the amount of "product" the prize to do so will go up by less than double. To teach 1000 students it takes $1000, why is it that to teach 2000 students you need $3000?
@disinterBaz
2 жыл бұрын
10:45 as you stated, the loans can be forgiven by executive order, so the deadlocked congress is immaterial.
@expelleddux
2 жыл бұрын
Also there is a moral hazard from forgiving student loans
@javierhugo5412
2 жыл бұрын
Reading about people grabbing multi-figures monthly as income in investments even in this crazy days in the market,any pointers on how to make substantial progress’s in earnings?would be appreciated
@sandraken5250
2 жыл бұрын
You have to have an idea on what you wanna invest in carefully before going into it
@olivefegan4607
2 жыл бұрын
@Javier, You make it seem unreal to make up to that as a passive income annually,when it’s clearly possible. I made over 1Hunnid thousand dollars from The starting of this year till now She’s a masterpiece and her name is Gabby Smith Rowe
@olivefegan4607
2 жыл бұрын
You can get to her thru her Tele gram page
@olivefegan4607
2 жыл бұрын
Tradewithgabb is the name
@albertpitts417
2 жыл бұрын
I made $15k in weeks investing with Gabby Also, open a business that brings value to the economy & you will be reward with 6-7 figures income.
@bigbigmurphy
2 жыл бұрын
Simple, because they can. Also, people kept taking out loans WITHOUT a future plan. Seriously, so many tradesmanship job are out there that doesn't require a 4 year degree, pays you 6 figures.
@fosyay1780
2 жыл бұрын
American student here. I don't understand why my countrymen and women fall for student loans. I turned 18 and graduated about a decade ago, and I could see plainly that people were going to college, getting debt, and not managing to find good jobs in their field. It wasn't rocket science to see that I should have saved going to college for a really lucrative field or one where your skills are flexible enough to work in different industries and/or go into business for yourself. You took out a loan, pay it back. (That being said, these interest rates are criminal and should be capped at like 1% or something; regardless of inflation. The horror stories of people who only can manage to make minimum payments shouldn't happen.)
@warmth9140
2 жыл бұрын
My big question is, why is tuition rising? Is it more expensive to have less students to educate? How are community colleges faring into the ecuation? Is education required jobs really going up while paying more or the same....
@attiepollard7847
2 жыл бұрын
Because the federal government and state governments are funding these institutions too much when they fund those institutions they refuse to bring down the cost. If you cut the funding they will bring down the cost dramatically.
@jarjarbinks6018
2 жыл бұрын
Same reason mortgage debt is so high and detached homes are so expensive. The government has allowed a situation to continue where people who cannot afford to take on such debt are allowed to do so with little to no strings attached which incentivizes them to do so. Not only that but society and the government at large have pushed teens to pursue college as the only path to success much in the same way we have convinced people that they have to have the biggest home in order to succeed. The trades are looked down upon by many families as a completely inconceivable career choice when stacked against going into academia while there are increasingly large shortages of blue collar workers to meet up with demand
@coasterland1920
2 жыл бұрын
US colleges and universities are expensive because it is a business. They need to build multi million dollar state of the art stadiums, pay millions of dollars for their football players and coaching staff. They know international students pay money so even with unusual price hikes, it keeps going up. They store money like it is bank just in case they need it in the future so yea,,,american colleges are indeed stupidly expensive.
@chemicalfrankie1030
2 жыл бұрын
Lol I really want to see the Gov transferring wealth from not educated people (usually poorer) to educated ones (usually richer) via canceling student debt. What about cancelling loans for semis used by truck drivers? Or for cars used by uber drivers? Etc...
@archierch0463
2 жыл бұрын
Unis should be free, end of debate. Education is a basic human right.
@levitschetter5288
2 жыл бұрын
Economics explained recently did a video on why younger generations have less wealth than older ones, and it couples well with this
@deusexaethera
Жыл бұрын
College is so expensive because colleges aren't allowed to discriminate, so they come up with flimsy excuses to raise their tuitions sky high, and then give "merit grants" to the students they actually want.
@Kabilibobers
2 жыл бұрын
Not all universities in the US are “expensive.” Cheap universities are still more expensive than they used to be though. My college was cheap enough that I paid for it by myself through working a summer job.
@theghostkillz8921
2 жыл бұрын
I'm about to go to an IT university. If I was in USA and saw these prices I'd never even consider learning IT and I'd just continue in what my father does, building fences, gates and sometimes even outside walls (just outdoor construction in general) and also now I can do all the construction AND I'll be an IT professional. Mostly because you actually have nothing to lose from going to universities in this country. Hello from Europe, Czechia where social and health/hospital spending actually makes sense and works.
@Ameriguy99
2 жыл бұрын
Like most things, it went to hell once the government got involved
@Lawfair
2 жыл бұрын
I don't think you watched the video, it went to hell when government got less involved. It was working reasonably well(not perfect but well, and a lot better than now) until tax funded subsidies declined in the 80's and it got even worse at least for college graduates, as SalieMae became privatized and regulation and oversight went out the window in favor of profit motive.
@wolfgangloll2747
2 жыл бұрын
Why not simply fund the courses that are particularly needed? Simply sit down once a year with the economics sector and pick out x % of the university degrees that have well-paid degrees and will soon be needed. (Professions that pay low wages to Colege graduates obviously don't really need more of those)
@harrelsonyee4467
2 жыл бұрын
Privatizing Sallie Mae was probably the worst move.
@katsomeday1
2 жыл бұрын
The current system is extremely dysfunctional. Long-term, by saddling so many Millennials and Gen-Z with ridiculous amount of debt, it harms the country. Graduates cannot buy homes or start families. They cannot afford to start businesses. Because they have less, they also end up paying less in taxes, which ends up creating a negative feedback loop for public services, which more require. People cannot afford to save for retirement or emergencies. The list goes on and on.
@Agentsierrabravo
2 жыл бұрын
Even before that the irs is basically disfunctional from the republican policy so the irs doesn’t come and hunt down the wealthy oil companies and rich. And even before that the economy would enter a recession
@AndrewMcFarlane_1
2 жыл бұрын
Liberty oh liberty... where is your responsibility....
@tomkarnes69
2 жыл бұрын
Debt the first 5000 years, a debt that can not will not be paid full stop. When you are in debt, your trapped, gone are all the student protests from the 1960's a time education was virtually free
@APerson-ws4cw
2 жыл бұрын
Jesus, in the UK 30k would be enough for a 3 year university course (ignoring housing)
@dansattah
2 жыл бұрын
The way that I see it may be overly simplistic, but it sounds to me like this: America is built on credit. You buy something now, but have to pay for it for the rest of your life. The housing bubble was America's chance to learn and change that. They have not.
@ernestbywater411
2 жыл бұрын
The current US college system needs a major restructuring to reduce the operating costs by eliminating the many excessive amounts paid for extraneous activities that do NOT enhance the educational process. Also, many of the senior college staff are paid excessively high in relation to others with their qualifications and their duties, those costs need to be brought back in line. Policies to encourage more scholarship should also be put in place so that fewer loans are needed. It's very likely such major changes in the operation of the colleges would also cut the costs by significant amounts, probably up to 40 percent or more for some colleges.
@attiepollard7847
2 жыл бұрын
I got some ideas we're going to have to defund the colleges on both state and federal levels when that happens those institutions will bring down their cause dramatically. We also need to fund and maybe encourage skilled trade jobs like they do in Germany. The days of a liberal arts degree needs to come to end because the History channel is not hiring
@ernestbywater411
2 жыл бұрын
@@attiepollard7847 Maybe a course voucher system should be used for government funds. Instead of the government, at all levels, paying money direct to the institutions they should provide the approved students with vouchers that work like a cheque, then the student signs up at the university and writes the voucher for the value of the courses they want to attend until they reach their voucher limit. With the money going direct to the faculties delivering the courses the students want to attend you'll soon see the leech courses and staff run out of money.
@attiepollard7847
2 жыл бұрын
@@ernestbywater411 I'll go with the voucher on one condition we need to make skill trade jobs the main priority
@nelshotsph7732
2 жыл бұрын
Education obligation for Goverment is not BUsiness
Пікірлер: 683