Latest / THINK BEFORE YOU SLEEP / Strong and Independent Women Want Other People to Pay Their Student Loans

Transcript

Strong and Independent Women Want Other People to Pay Their Student Loans · THINK BEFORE YOU SLEEP

• 0:00
  Speaker 1: For undergrad, I took about $ 18, 000 in total. As for
• 0:05
  Speaker 1: grad school, oh gosh, I initially had a full ride
• 0:11
  Speaker 1: the first year and then the second year came, I
• 0:13
  Speaker 1: talked to financial aid and they were like, surprise, you
• 0:16
  Speaker 1: only had a full ride for your first semester. And
• 0:19
  Speaker 1: so I ended up taking about $ 100, 000. extra in student
• 0:23
  Speaker 1: loans that should have never been taken out. As soon
• 0:25
  Speaker 1: as we opened up my student loans, I was delinquent.
• 0:28
  Speaker 1: And I think my first payment due was like $ 1, 500,
• 0:31
  Speaker 1: which I don't think I even made in a month.
• 0:34
  Speaker 2: $ 1, 500 a month. That's more than you make. You went
• 0:38
  Speaker 2: to grad school so you could make less than $ 18, 000
• 0:41
  Speaker 2: a year. My God, I've known cashiers who make more
• 0:44
  Speaker 2: than that. Is she even trying? I bet she wasn't
• 0:47
  Speaker 2: even working full time. So, this BuzzFeed video interviews three
• 0:51
  Speaker 2: different women. One 18-year-old, one 28-year-old, and one 38-year-old, who
• 0:57
  Speaker 2: all talk about their experience with student debt. Considering our
• 1:01
  Speaker 2: current state of affairs, I wonder how they're doing. This
• 1:04
  Speaker 2: video was released only a few days before the lockdown,
• 1:07
  Speaker 2: so I can only imagine how they're handling all their
• 1:10
  Speaker 2: debt with no jobs. I think now is as important
• 1:12
  Speaker 2: time as any to not let the coronavirus crisis go
• 1:15
  Speaker 2: to waste, because while certainly a lot of bad can
• 1:18
  Speaker 2: happen in the next few months, In the long term,
• 1:20
  Speaker 2: coronavirus could be the strong crisis that everyone needs to
• 1:23
  Speaker 2: get their shit together. At the very least, it will
• 1:26
  Speaker 2: help a massive amount of people realize why they shouldn't
• 1:29
  Speaker 2: go out purchasing a bunch of things they can't afford
• 1:31
  Speaker 2: with debt. Anytime you're about to make a stupid purchase,
• 1:35
  Speaker 2: you can think about the lockdown. There is a cost
• 1:37
  Speaker 2: to doing things that are irresponsible. Making bad decisions destroys
• 1:41
  Speaker 2: your ability to survive a crisis, and crisis is a guarantee. Now,
• 1:46
  Speaker 2: crisis has many forms, But you can be certain that
• 1:49
  Speaker 2: your life will never go perfectly, so you need to
• 1:51
  Speaker 2: be prepared for bad things to happen to you, because
• 1:54
  Speaker 2: they will. People seem to be under this delusion that
• 1:56
  Speaker 2: if everything goes well, then I can afford the $ 1, 500
• 2:00
  Speaker 2: a month minimum payment that it's going to cost me
• 2:03
  Speaker 2: to make this stupid decision. There's a cost to that behavior.
• 2:07
  Speaker 2: Let's see how our first example, JC, is handling that cost.
• 2:11
  Speaker 1: I was jumping from job to job just trying to
• 2:14
  Speaker 1: keep a roof over my head. And I got super
• 2:16
  Speaker 1: lucky one day because I was pounding the pavement looking
• 2:18
  Speaker 1: for jobs. The job turned out to be processing student loans.
• 2:22
  Speaker 1: And since then, I figured out how to keep my
• 2:26
  Speaker 1: loans in repayment. But I'm actually currently paying zero because
• 2:30
  Speaker 1: I don't even make enough to be paying monthly rates.
• 2:33
  Speaker 2: Well, that's interesting. This whole segment from BuzzFeed is all
• 2:37
  Speaker 2: about how predatory student loans are. And JC's answer to
• 2:41
  Speaker 2: fix her life is to make a deal with the
• 2:43
  Speaker 2: devil instead. and work for a company that hands out
• 2:45
  Speaker 2: predatory loans to helpless victims like herself. You don't see
• 2:49
  Speaker 2: anything wrong with that? You are on BuzzFeed to warn
• 2:52
  Speaker 2: people so you look like a moral person, but when
• 2:54
  Speaker 2: you aren't on camera, you go out there and help
• 2:56
  Speaker 2: sign people up for loans so they are doomed just
• 2:59
  Speaker 2: like you. Is this the wonderful BuzzFeed feminist who is
• 3:03
  Speaker 2: just trying to warn the children? She's 28 years old,
• 3:06
  Speaker 2: and she currently pays $ 0 on her debt. So not
• 3:10
  Speaker 2: only is she helping make the problem worse, but by
• 3:13
  Speaker 2: her actions, clearly she's expecting someone else to pay for
• 3:16
  Speaker 2: her mistakes. Understand, people notice things like this, particularly people
• 3:21
  Speaker 2: who are valuable that you want around you. Over the years,
• 3:25
  Speaker 2: I listened to many stories of people who have survived
• 3:27
  Speaker 2: horrible situations. The number one thing they described that helped
• 3:31
  Speaker 2: them survive were their strong family relationships or their close friendships.
• 3:35
  Speaker 2: There's a person I mentioned before in another video named
• 3:38
  Speaker 2: Rose Schindler, who is a survivor of Auschwitz. Before her
• 3:41
  Speaker 2: father was killed, He told her and her two sisters
• 3:44
  Speaker 2: to stay together. The reason they survived that concentration camp
• 3:48
  Speaker 2: is because they did favors for each other. Starvation was
• 3:51
  Speaker 2: one of their major issues, so if one of them
• 3:53
  Speaker 2: found access to extra food from the cafeteria, she would
• 3:56
  Speaker 2: share it with the others so they wouldn't die of
• 3:58
  Speaker 2: starvation or be killed because they were too thin and
• 4:01
  Speaker 2: unable to work. That's just one of the many things
• 4:04
  Speaker 2: they did to help each other survive. They had a
• 4:07
  Speaker 2: massive advantage over people who were by themselves. JC's actions
• 4:11
  Speaker 2: say that when someone does her a favor, like give
• 4:13
  Speaker 2: her $ 100, 000 so she can go to grad school, she
• 4:16
  Speaker 2: has no intent on returning the favor. In fact, instead
• 4:20
  Speaker 2: of trying to make it right, she goes out of
• 4:22
  Speaker 2: her way to find solutions on how to not return
• 4:24
  Speaker 2: what she owes. Not only that, but she is willing
• 4:27
  Speaker 2: to stab people in the back by dooming them to
• 4:29
  Speaker 2: the same fate if it suits her own needs. Like
• 4:32
  Speaker 2: I said... People notice this kind of stuff. And what
• 4:35
  Speaker 2: it says is that anyone who would be of value
• 4:38
  Speaker 2: to you in a crisis, whether it's a holocaust or
• 4:40
  Speaker 2: you being late on your rent, will want nothing to
• 4:43
  Speaker 2: do with you. Those strong connections that she needs to
• 4:46
  Speaker 2: survive won't be there because the only people she's going
• 4:50
  Speaker 2: to be able to attract are highly selfish people like herself.
• 4:54
  Speaker 1: Within the span of about four or five years, it
• 4:57
  Speaker 1: went from like 117K and now it's 145K, I believe,
• 4:59
  Speaker 1: the last time I checked. So it is nerve-wracking, but
• 5:06
  Speaker 1: I'm hoping that within 10 years, I'll figure out how
• 5:09
  Speaker 1: to get it all forgiven.
• 5:12
  Speaker 2: And there we have it. It's all okay because Bernie
• 5:14
  Speaker 2: Sanders is going to save us. Hopefully in the next
• 5:17
  Speaker 2: 10 years, I'll figure out how to get the loan forgiven.
• 5:20
  Speaker 2: Is that how you approach everything in life? Make a
• 5:23
  Speaker 2: huge mistake and then wait for someone else to save you?
• 5:26
  Speaker 2: Allow me to let you in on a little secret.
• 5:28
  Speaker 2: No one is going to save you. To everyone watching
• 5:31
  Speaker 2: this video, No one is going to save you. Your
• 5:35
  Speaker 2: mistakes are yours to pay for, and if you expect
• 5:37
  Speaker 2: someone else to do it for you, then you will
• 5:39
  Speaker 2: be broke forever, just like this chick is going to be.
• 5:43
  Speaker 2: During a crisis, don't expect the government to solve all
• 5:45
  Speaker 2: your problems. If you lost your job, go find another one.
• 5:49
  Speaker 2: That might mean you're delivering pizzas until the lockdown is over,
• 5:52
  Speaker 2: but delivering pizzas is a lot better than being completely broke.
• 5:56
  Speaker 2: Don't just sit around. Find something to do, and be
• 5:59
  Speaker 2: a survivor. not someone who gives up and begs for
• 6:02
  Speaker 2: help when things get difficult.
• 6:04
  Speaker 1: Honestly, if I knew that I would have to have
• 6:07
  Speaker 1: all those loans under my belt, I would have gone
• 6:09
  Speaker 1: and applied to the Ivy League school of my dreams.
• 6:12
  Speaker 1: I would have applied to Harvard. I wish somebody had
• 6:15
  Speaker 1: told me you should never allow the logistics of something
• 6:18
  Speaker 1: to keep you from achieving what really matters to you.
• 6:21
  Speaker 2: Yeah, the logistics are that you are permanently in debt
• 6:24
  Speaker 2: because you got a useless degree. Do you want to
• 6:27
  Speaker 2: pay Harvard money for a useless degree? Look at her.
• 6:30
  Speaker 2: She thinks this is funny. Well, I'm going to be
• 6:33
  Speaker 2: in debt for the rest of my life, so I
• 6:35
  Speaker 2: might as well just go to a school that's 63%
• 6:37
  Speaker 2: more expensive than the average school. Who cares? I'm not
• 6:40
  Speaker 2: paying for it. You know what, girls? Go for your dream.
• 6:43
  Speaker 2: It's someone else's dime anyway. These are the people who
• 6:47
  Speaker 2: want student loan forgiveness. If someone else pays for it,
• 6:50
  Speaker 2: then they don't learn from the error, and they will
• 6:52
  Speaker 2: just keep making the same colossal mistake over and over again.
• 6:57
  Speaker 2: Next victim.
• 6:58
  Speaker 3: I went to law school and I studied abroad, so
• 7:00
  Speaker 3: I have a little bit of loans from that, but
• 7:02
  Speaker 3: school was actually less expensive. A huge portion of my
• 7:05
  Speaker 3: loans are from one year of grad school I did
• 7:07
  Speaker 3: when I moved back to the States. I originally had
• 7:10
  Speaker 3: about $ 70, 000, $ 75, 000 in loans from that one year of
• 7:14
  Speaker 3: grad school. It's now up to almost $ 150, 000. Well, look
• 7:20
  Speaker 3: at that.
• 7:21
  Speaker 2: She studied abroad. Great. So the taxpayers paid for you
• 7:24
  Speaker 2: to take a vacation, and now you're $ 150, 000 in debt.
• 7:28
  Speaker 3: Straight out of school, the economy was horrible and I
• 7:31
  Speaker 3: was struggling and realized it just wasn't even what I
• 7:33
  Speaker 3: wanted to do. Now I do something completely different where
• 7:36
  Speaker 3: I don't earn a ton of money. I'm on income-based repayment.
• 7:40
  Speaker 3: So I make really small payments. They call it negative
• 7:43
  Speaker 3: amortization where I'm now accruing interest on the interest. In
• 7:46
  Speaker 3: my mind, I was thinking, well, I'm going to be
• 7:49
  Speaker 3: a lawyer. I'm going to make tons of money. I
• 7:50
  Speaker 3: know it's going to take me some time, but I'm
• 7:51
  Speaker 3: going to pay off these loans.
• 7:53
  Speaker 2: You spent $ 150, 000 on a law degree. and just decided
• 7:57
  Speaker 2: that it wasn't for you. Honey, you don't have a choice.
• 8:01
  Speaker 2: You need to get off your ass and work. Now
• 8:03
  Speaker 2: you do something completely different where you don't earn a
• 8:05
  Speaker 2: ton of money? What are you, a waitress? You spent $ 150, 000
• 8:09
  Speaker 2: on college so you could become a waitress? This is
• 8:12
  Speaker 2: our modern, empowered woman. She's college-educated, and she's strong and independent,
• 8:17
  Speaker 2: except for the massive loan she is in pain. Oh wait,
• 8:20
  Speaker 2: it's worse than that, because she's on income-based repayment with
• 8:23
  Speaker 2: a loan that has compounded interest. That's more than nothing,
• 8:27
  Speaker 2: but I guess it's like.
• 8:28
  Speaker 4: Our first victim.
• 8:29
  Speaker 2: She also intends to never pay this loan off. More importantly,
• 8:32
  Speaker 2: she now has a disincentive to make more money because
• 8:35
  Speaker 2: as soon as she does, her payments are going to
• 8:37
  Speaker 2: go up. You are doing income-based payments on a compounded
• 8:40
  Speaker 2: interest loan where you aren't even paying the interest. What
• 8:44
  Speaker 2: are you going to do in four to five years
• 8:45
  Speaker 2: when that loan is $ 200, 000? She could solve this problem.
• 8:50
  Speaker 2: Be a lawyer for a few years and then go
• 8:52
  Speaker 2: follow your passions. Lots of people do things they don't
• 8:55
  Speaker 2: want to do to get out of debt. But from
• 8:57
  Speaker 2: the looks of it, she doesn't want to fix her life.
• 9:00
  Speaker 2: She's going to be poor forever and be destroyed anytime
• 9:03
  Speaker 2: the slightest thing goes wrong.
• 9:05
  Speaker 3: I really didn't understand the magnitude of what taking out
• 9:10
  Speaker 3: that money would mean.
• 9:12
  Speaker 2: You took out over $ 100, 000 in student loans and you
• 9:15
  Speaker 2: didn't understand the magnitude of that decision? So you're an idiot.
• 9:19
  Speaker 2: Just say it. Hell, I'll say it. I took out
• 9:21
  Speaker 2: student loans when I was in college and I'm an idiot.
• 9:24
  Speaker 2: That was a horrible decision on my part and I've
• 9:27
  Speaker 2: been saying that ever since I graduated. Guess what? Because
• 9:31
  Speaker 2: I say that to myself, I pay ahead on my
• 9:33
  Speaker 2: student loans. Guess what? They're almost paid off. I didn't
• 9:36
  Speaker 2: go out and make the problem worse by obtaining a
• 9:39
  Speaker 2: useless undergrad degree only to go to an expensive grad
• 9:42
  Speaker 2: school to get another useless degree. I stopped at the
• 9:45
  Speaker 2: first one and now I'm solving the problem. I didn't say... Well,
• 9:49
  Speaker 2: I'm going to make a bunch of money in the future,
• 9:51
  Speaker 2: so it doesn't matter how much debt I take out.
• 9:53
  Speaker 2: That statement is one of the dumbest rationalizations that people
• 9:56
  Speaker 2: use for taking out debt. Last victim.
• 9:59
  Speaker 4: When I was debating taking out loans, it wasn't really
• 10:02
  Speaker 4: a question. The federal government allows first-year undergrad students who
• 10:08
  Speaker 4: are dependent to take out about $ 5, 500 worth of loans,
• 10:12
  Speaker 4: although I knew it was a huge financial commitment to
• 10:15
  Speaker 4: take on, especially at such an early stage in my
• 10:19
  Speaker 4: academic career, I decided to take that out just because
• 10:23
  Speaker 4: I thought it was worth coming out here for.
• 10:25
  Speaker 2: Isn't that great? Our last victim, Lexi, is only 18
• 10:29
  Speaker 2: and she's already $ 5, 500 in debt. Wow. And how about this?
• 10:35
  Speaker 2: If you just keep taking out loans and paying whatever
• 10:37
  Speaker 2: they say, do you think that colleges are going to
• 10:40
  Speaker 2: decrease their prices? Of course not. Federally subsidized student loans
• 10:45
  Speaker 2: are making school more expensive than because they give you
• 10:47
  Speaker 2: the artificial capacity to pay, which gives colleges way more demand.
• 10:52
  Speaker 2: Not only are you ruining your life, but every time
• 10:54
  Speaker 2: you take out a student loan to meet the demands
• 10:56
  Speaker 2: of the college, you are making the problem worse.
• 10:59
  Speaker 4: I thought taking out loans was worth it in the
• 11:02
  Speaker 4: end just because I was able to attend my dream school,
• 11:05
  Speaker 4: and I'm currently attending my dream school.
• 11:08
  Speaker 2: You don't get to go to your dream school if
• 11:09
  Speaker 2: you are broke. You get to live with your parents
• 11:12
  Speaker 2: and then go to the closest, cheapest school to you
• 11:15
  Speaker 2: instead of paying rent and out-of-state tuition like I suspect
• 11:17
  Speaker 2: she's doing because she says things like, I thought the
• 11:20
  Speaker 2: loan was worth it to come out here. She's going
• 11:22
  Speaker 2: to end up just like the first two by the
• 11:24
  Speaker 2: time she's finished with school. So I sincerely hope that
• 11:28
  Speaker 2: this whole coronavirus event is eye-opening to the people who
• 11:30
  Speaker 2: are not prepared. It's a lot harder to keep a
• 11:33
  Speaker 2: roof over your head while you're paying five different creditors
• 11:36
  Speaker 2: because you can't wait a little bit before making a purchase.
• 11:40
  Speaker 2: A $ 500 monthly car payment for five years because you
• 11:42
  Speaker 2: had to have your brand new dream car could kill
• 11:45
  Speaker 2: you if things go wrong. Bad things are guaranteed to happen.
• 11:49
  Speaker 2: Crisis is a guarantee. The less you are prepared for
• 11:52
  Speaker 2: a crisis, the more they will happen. Small things that
• 11:55
  Speaker 2: are no problem for people who are good with money,
• 11:57
  Speaker 2: like a car breaking down, could ruin someone who is broke.
• 12:01
  Speaker 2: Make sure that's not you. Right now we are in
• 12:04
  Speaker 2: a health crisis, so how about you use that as
• 12:07
  Speaker 2: an excuse to get your health in order? Eat less
• 12:09
  Speaker 2: junk food, start exercising, lose weight. All of those things
• 12:14
  Speaker 2: boost your immune system. A virus is way less of
• 12:16
  Speaker 2: a deal to people who are healthy than to people
• 12:18
  Speaker 2: who don't take care of themselves. You can also use
• 12:21
  Speaker 2: this as an excuse to take care of your disaster supplies,
• 12:24
  Speaker 2: like buying a firearm and learning how to use it.
• 12:27
  Speaker 2: People will be a lot less likely to attack you
• 12:29
  Speaker 2: or rob you during an emergency if they think they're
• 12:31
  Speaker 2: going to be shot at. You can stock up on
• 12:34
  Speaker 2: one to three months of food and water so you
• 12:35
  Speaker 2: don't have to panic if the food supply chain ever
• 12:37
  Speaker 2: goes down, as it sometimes does during disasters. Finally, whether
• 12:42
  Speaker 2: you are in a crisis or not, help people out
• 12:45
  Speaker 2: who deserve it. Charity to deserving people, inside of a
• 12:48
  Speaker 2: crisis and outside of a crisis, is how you create
• 12:51
  Speaker 2: nice people who won't freak out when things go wrong.
• 12:54
  Speaker 2: Help out your neighbors because that creates a community where
• 12:57
  Speaker 2: everybody helps each other. That's how you keep yourself safe
• 13:00
  Speaker 2: in bad times. That is how you keep the government
• 13:03
  Speaker 2: from using panic to seize shitloads of power that they
• 13:06
  Speaker 2: shouldn't have. If everyone is taken care of and not
• 13:09
  Speaker 2: expecting someone else to solve all their problems, then all
• 13:11
  Speaker 2: those horrible tricks that the government uses on society won't
• 13:15
  Speaker 2: work in a crisis. And with that said, that will
• 13:18
  Speaker 2: be enough for this video. So if you liked it,
• 13:20
  Speaker 2: hit the like button, subscribe if you're new, comment and share.
• 13:25
  Speaker 2: If you would like to support this channel, then you
• 13:27
  Speaker 2: can do so with PayPal, Patreon, or Subscribestar. All of
• 13:30
  Speaker 2: those links are in the description or on my channel page. Last,
• 13:34
  Speaker 2: don't forget to check me out on BitChute and Facebook.
• 13:36
  Speaker 2: You can also find those in the description or on
• 13:39
  Speaker 2: my channel page. Otherwise, see you in the next video.
• 13:43
  Speaker 2: Thanks for watching.