If Student Loan Debt Collectors Were Honest #shorts #studentloans #studentloandebt #trump #parody #collegelife #honestads #youtubeshorts
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00:00No, when I leave college, I'll have a high-paying job.
00:02I mean, that's what you're paying for when you go to school.
00:05You're buying a degree that makes you qualified for a good job.
00:08Well, that's what I've certainly convinced you is true.
00:12In reality, the national student loan debt is at $1.2 trillion,
00:17which translates to a whole lot of fancy graduates
00:20who don't have jobs that can actually pay back the loans we forced them to take out.
00:25But it's possible.
00:26I mean, both of my parents went to college, and they're not in debt anymore.
00:30Don't bother asking them for advice.
00:32When they were in college, they could pay for it with a summer job.
00:35That'd only be possible today if your summer job was being Elon Musk.
00:40The new reality is that it's almost impossible to make student debt disappear,
00:45even if you go bankrupt.
00:47I still don't know how I managed to pull that one off.
00:50Can I...
00:51Are there loan companies that are better that I can choose from?
00:57Hmm, no.
00:59The government decides what companies you borrow from,
01:02and then your debt can actually be sold multiple times
01:04to different organizations beyond your control,
01:07and they can do whatever they want with your debt.
01:09Hey, I just bought your debt.
01:10And I'm gifting you the opportunity to put off paying for six whole months.
01:15As a side effect, you'll be paying for literally 50 years.
01:18But hey, time is money, right?
01:20I wouldn't know.
01:21I didn't go to college.
01:21Seemed expensive.
01:22My dad gave me this job.
01:23Bye.
01:24Of course, it's not like this money's wasted.
01:26It goes right into the school's endowment,
01:29which is used to pay for things like tuition assistance and fellowships,
01:33but mostly to play the stock market.
01:35In 2014, Yale's $26 billion endowment made almost $500 million in hedge funds
01:42and put just under $200 million of that towards its actual students.
01:46So your tuition dollars are making America's 1% rich even before you graduate.