ABOUT THE ACTUAL LOAN ASPECT OF IT TO PUT THEM SELVES WITH
IT TO PUT THEM SELVES WITH
YOUNGER VOTERS VISITED BIDEN
STUDENT LOAN BAILOUT.
THE PRESIDENT ANNOUNCEMENTS
YESTERDAY CAUSING THE FEDERAL
GOVERNMENT STUDENT AID WEBSITE
TO CRASH DUE TO HIGH NUMBER OF
VISITORS, PERSONAL FINANCE
EXPERT AND PROFESSOR AT THE
UNIVERSITY OF SAN DIEGO, DAN
RICARDO IS HERE, I WOULD LIKE TO
GET YOUR REACTION TO THE
PRESIDENT’S PLAN, AND WHAT YOU
SEE THE IMPACT BEING.
>> GOOD MORNING THAT WAS A SMART
GROUP OF STUDENTS, LET’S CALL
THIS A MISSED OPPORTUNITY.
AS A COUNTRY WE COULD HAVE DONE
SO MUCH MORE WHEN IT COMES TO
FIXING INSTEAD OF FORGIVING, FOR
GOODNESS COULD HAVE BEEN A PART
OF IT BUT WHAT WE DIDN’T DO WAS
GO TO THE ROOT CAUSE OF WHY WE
HAVE A $1.6 TRILLION PROBLEM
WHEN IT COMES TO STUDENT LOANS
WE DID NOTHING TO FIX THAT.
SOMEONE ABOUT SMARTER THAN THE
BEACH I SUSPECT WE’RE GOING TO
CAUSE ADDITIONAL PROBLEMS.
MARIA: THE COMMITTEE FOR A
RESPONSIBLE FEDERAL BUDGET SAID
THAT IT IS INFLATIONARY, IT’S COSTLY AND IT’S GOING TO ADD TO
COSTLY AND IT’S GOING TO ADD TO
THE DEBT AND IS ALSO GOING TO
SPEND THE PRICE OF COLLEGE
TUITION UP THE COST OF COLLEGE
HERE IS THE COMMITTEE STATEMENT,
THE COST OF COLLEGE IS A HUGE
PROBLEM IN AMERICA BUT FORGIVING
10 - $20000 PER PERSON IS COSTLY
AND IT APPEARS TO BE A POLITICAL
SOMETHING ANYTHING ELSE CLOSE TO
GOOD POLICY IT WOULD DO NOTHING
TO MAKE EDUCATION MORE
AFFORDABLE AND IF ANYTHING THIS
POLICY WILL DRIVE UP TUITION
COST, HOW SIGNIFICANT WILL WE
SEE A MOVE ON COLLEGE TUITION
HOW DO YOU EXPECT THIS PLAN TO
IMPACT UNIVERSITIES, THEIR
ENDOWMENTS?
>> GOOD QUESTION HE GOOD POLITICS IT MAY BE, BAD
POLITICS IT MAY BE, BAD
ECONOMICS IT CERTAINLY IS, IT’S
HARD TO SAY HOW MUCH TUITION
WILL INCREASE ALTHOUGH I SAW ONE
ESTIMATE BETWEEN THE OVERALL
INCREASE IN INFLATION RATE, HERE
IS THE DEAL ALL COLLEGES ARE NOT
THE SAME BUT TO WORK FOR ONE
THAT SPENDS A LOT OF TIME AND
EFFORT FOCUSED ON VALUE AND
OUTCOMES, GOOD STUFF
UNFORTUNATELY THEY ARE NOT ALL
THERE AND WE SEE A LOT OF TIMES
COLLEGES ARE TURNING OUT
STUDENTS OR WORSE ENROLLING
STUDENTS WHO NEVER GET TURNED
DOWN.
WE ARE ONE THIRD OF STUDENT LOAN
HOLDERS WHO DO NOT HAVE A DEGREE
THAT IS EGREGIOUS BUT WE SEE
SOME COLLEGES TURNING OUT
STUDENTS IN MANY CASES ARE
UNDEREMPLOYED ACCORDING TO A FED
STUDY WE’VE SEEN OVER 20% OF
RECENT GRADUATES UNDEREMPLOYED
THEY HAVE THE BASKET WEAVING
DEGREE THAT COST 100 GRAND BUT
THERE MAKING LATTES.
NOTHING AGAINST BASKET WEAVERS,
WE HAVE TO HAVE MORE
ACCOUNTABILITY AT THE COLLEGE
LEVEL AS WELL IN THIS ACTION FOR
THE PRESIDENT DOESN’T DO THAT.
IN A MINUTE I’M GOING TO ASK YOU
FOR TIPS FOR BORROWERS FOR THOSE
PEOPLE WHO ARE PAYING OFF THEIR
STUDENT DEBT, DAGEN UTENSIL MUCH
WORK ON DEBT DEFICIT IN THE
STUDENT LOAN CRISES, OVER TO
YOU.
QUITE FRANKLY FOR BAILING OUT
AND PROPPING UP WEALTHY
REGULATORS AND THAT’S WHAT’S GOING ON TODAY AND THOSE WHO ARE
GOING ON TODAY AND THOSE WHO ARE
RESPONSIBLE AND WORK HARD AND TAKE IT OUT DEBT TO GO TO STUPID
TAKE IT OUT DEBT TO GO TO STUPID
COLLEGES.
THE POWER IS IN THE HANDS OF
PARENTS AND STUDENTS YOU WILL BE
GOING INTO COLLEGE IN FUTURE
YEARS.
I GOT MORE TEXT MESSAGES
YESTERDAY FROM FRIENDS WHO PAID
AUTHORED PAID OFF THE KIDS DEBT
ABOUT THIS VERY ISSUE AND THEY
ARE IRATE, HERE’S WHAT ONE OF MY
CLOSEST FRIENDS SET ON A SCHOOL BOARD IN A PUBLIC SCHOOL BOARD
BOARD IN A PUBLIC SCHOOL BOARD
DOWN SOUTH, MY SON AND I TALK
ABOUT THE ASSUMPTION OF DEBT AND
THE ABILITY TO PAY IT OFF WITH
YOUR PROJECTED CAREER EARNINGS
EVERY SINGLE DAY I DON’T GET IT.
THE POWER IS IN THE HAND OF THE
INDIVIDUAL TO STARVE THESE
GARBAGE COLLEGES AND
UNIVERSITIES OF MONEY IS THE
BIGGEST LIE SOLD TO THE AMERICAN
PEOPLE THAT YOU HAVE TO GO TO A
FOUR-YEAR SCHOOL IN ORDER TO
SUCCEED IN THIS COUNTRY.
THE MORE EXPENSIVE THE COLLEGE
IS THE BETTER IT IS THEY ARE
ABOUT 20 DECENT UNIVERSITIES IN
THIS COUNTRY THAT ARE WORTH A
QUARTER OF A MILLION DOLLARS AND
ENDS THERE.
IF YOU ARE PAYING $50000 A YEAR
TO A LOT OF THE SCHOOLS YOU
MIGHT AS WELL SET FIRE TO THAT
MONEY HE WENT AGREE WHAT DAGEN
SAYS I’M GET A REMINDER I PUT
FOUR KIDS THROUGH COLLEGE AND
WERE NOT GETTING ANY OF THIS
MONEY EITHER, THANK YOU FOR
THAT.
THE REALITY WE VALUE EDUCATION
IN THIS COUNTRY AS WE SHOULD,
STUDIES HAVE SHOWN A HIGHER
EDUCATION IS A NET PLUS.
AS DAGEN HAS SAID WE GOT OFF THE
RAILS IN MANY CASES WHERE IT’S
TURNED IN HEARING PEOPLE FOR
PRODUCTIVE USEFUL CAREERS.
>> REAL QUICK, WE DON’T VALUE
EDUCATION ACTUALLY BECAUSE
PEOPLE IN PUBLIC SCHOOL AND
ELEMENTARY AND HIGH SCHOOL THEIR
EDUCATION IS GARBAGE.
IT IS HORRIBLE ALL THEN YOU HAVE
TO TELL PEOPLE THERE TO GO TO A
$50000 IN DEBT TO GO TO COLLEGE
HOW ABOUT MAKING EDUCATION
BETTER ELEMENTARY AND HIGH
SCHOOL AND YOU WOULDN’T HAVE TO
OVERPAY FOR THIS.
MARIA: REAL QUICK WHAT IS YOUR
MOST IMPORTANT TIP FOR PEOPLE
PAYING OFF STUDENT LOANS RIGHT
NOW FOCUS ON WHAT YOU CAN
CONTROL IF YOU OWN MORE THAN
20000 MAKE PAYMENTS IF YOU CAN
AFFORD TO BECAUSE YOU PAY OFF
THE BALANCE SOONER READJUST YOUR
BUDGET IN CASE THE STARTUP IN
JANUARY AS THE PRESIDENT SAID IT
WOULD AND IF YOU PRIVATE STUDENT
LOANS WERE ONLY TALKING ABOUT
FEDERAL LOANS IF YOU PRIVATE
LOANS YOU COULD REFINANCE THEM
TO GET DECENT CREDIT RATES ARE
STILL PRETTY GOOD.