Since Student Loan Payments Started Up Again

If Student Loan Debt Collectors Were Honest #shorts #studentloans #studentloandebt #trump #parody #collegelife #honestads #youtubeshorts

Transcript

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.