Game of Loans | 5 Minute Video
Why does student debt keep going up and up even as it’s harder and harder to find a good job with a college degree? And why does it seem that the more aid the government and colleges give, the less it helps? Charlie Kirk, founder of Turning Point USA, shows how politicians and universities have saddled students with dangerous debt…and with little to show for it.
🚨 PragerU is experiencing severe censorship on Big Tech platforms. Go to https://www.prageru.com/ to watch our videos free from censorship!
SUBSCRIBE 👉 https://www.prageru.com/join/
📲 Take PragerU videos with you everywhere you go. Download our free mobile app!
Download for Apple iOS ➡ https://itunes.apple.com/us/app/prage…
Download for Android ➡ https://play.google.com/store/apps/de…
📳 Join PragerU’s text list! https://optin.mobiniti.com/prageru
SHOP! 🛒 Love PragerU? Visit our store today! https://shop.prageru.com/
Script:
I’m guessing you’ve heard of the acclaimed TV show “Game of Thrones.” Seven kingdoms vying for power, plots within plots, watch your back or lose your head. It’s great.
But you’ve probably never heard of a real life drama that I call the “Game of Loans.” That’s a game Washington politicians play on young people, that is, college students, every day.
Just like “Game of Thrones,” the “Game of Loans” has plots within plots, big winners and big losers.
The winners are politicians and colleges. They fool students into thinking that by generously providing ever-larger college loans to cover ever-larger tuition costs, they have earned students’ votes at election time. Why do I say students are fooled? Because it is thanks to the very politicians who promise students more and more aid — in league with the colleges — that college tuition became so expensive in the first place.
Here’s how the game works.
According to Bloomberg News, since 1978 the cost of a college education has gone up by over 1000 percent. Way past the rate of inflation. Tuition alone at many colleges is 20, 40, even 50 thousand dollars a year! So, how do you pay for it? Answer: student loans, loans that the government is happy to give you since they collect the interest. You don’t have to be a finance major to figure out that all these student loans give colleges no incentive to cut costs. Instead, it gives them every incentive to raise costs. Higher tuition obviously means more money for the college.
Now if students were going to college in record numbers to study engineering or computer science or biology — professions with high employment rates — maybe these crazy sums would make some sense. Maybe. But the most common majors are in the social sciences and communications — in subjects like sociology, cinema history and gender studies. Not surprisingly these majors have very high unemployment rates, as in, they don’t prepare you for a job. And these majors are mainstream! You can get a degree in storytelling, bag piping and puppet arts for your fifty thousand a year.
But here‘s the point: colleges are no longer primarily about preparing you for a career. Today’s higher education is about teaching you what a terrible country America is, social activism… and binge drinking. Hey, if college didn’t cost so much the parties might be worth it, but it does.
The average student loan debt in America is $28,400 per borrower. Note that this is per borrower, not graduate! Big difference. A large chunk of the 1.3 trillion dollar student loan liability is held by ex-students who never graduated. For every 100 students who enter a four- year college only 59 exit with a degree.
But maybe you’re one of the lucky ones. You got a business degree and you found a decent job. Chances are you’re paying off your student loans and will be for the next 10, 20 or even 30 years! Good luck saving money for a down payment on a house or just about anything else.
For the complete script, visit https://www.prageru.com/videos/game-loans
source
The "game" of student loan is more like Russian roulette. There should be a sign on the student loan office door: I'D TURN BACK IF I WERE YOU. Do anything short of robbery to avoid it. Especially if you plan to major in Film Comedy.
You do a Law Degree at Harvard and for the next ten years Harvard will write off 10% of your loan each year if you practiice law to help the poor, then you're free to do your own thing. Rockefeller created Student Loans justifying it by claiming graduates with Engineering, medical, theology degrees should pay because they were going to earn far more than ordinary workers. Of course it is a lie.
I don’t understand why so many young people even go into student loan debt when there are so many low skill jobs out there nowadays that actually offer tuition reimbursement for college students. Home Depot, Walmart, Target, McDonald’s, Taco Bell, Subway, and Starbucks all offer it, just to name a few that I know of.
This is coming from a college-age kid by the way. My employer says on their company website that they offer it, so I plan to do that. However luckily, the class I plan to take is more of a certification program than a degree and only costs $1500 out of pocket which I can afford even without the help.
They need to show this video to every high school student .
However Dems forgive the loans .. how nice of them ..
, once there was a very smart man, his name was Shakespeare… yeh .. Shakespeare,
he said a fool and his money soon will be parted.! Ha ha ha ..
guess what ..
He was right !
Pell Grants folks!
Oh, this is good stuff: I have no job or career after working on 1 degree in communications for television and 4 in education, 17 years of college and study, 3 rounds of college and 9 colleges and universities later. College degrees need a ticket job at the end of the degree, great pay more than trade jobs and be able to get into the career went to school for in the first place. Plus, STEM and skill careers are the better choices. Help Lord Jesus help!!!!!!!! Thank you for the video…..
The New Zealand government introduced Student Loans as an easy way to cook the economic books from red to black. My favourite lecturer told me how shocked he was to see the leaked government documentation on it! Everything you're saying is true here too!
Government perverted the markets with its interference.
It raised prices by raising demand.
It cheapened the degrees by flooding the market with them.
I hate college. We need less college in America. All colleges do these days is indoctrinate not educate. College is just a waste of money and time just to be indoctrinated and brainwashed to hate this country. No thanks! We need less college in America and more jobs.
Travel, dining out and new tech': 73% of student loan borrowers plan to spend their debt forgiveness on non-essential items.
this is so true
although using this logic shouldn’t housing not need a loan because it’s shelter and healthcare maybe I don’t know seems like a good idea
Government interference distorts and perverts market forces.
Tyrion- “A Lannister always pays his debts”
Daenerys- “Can’t we just burn these cities to the ground?”
Best argument I've have heard for public funding for higher education. Businesses are in on the scam too they expect people to have degrees and are less likely to hire someone who doesn't have one. Germany funds higher education no one graduates in debt.
You need to update this to current figures, please!
Turns out, they don't have to pay it back now…of course, again, the American people are screwed in the end again.
"Now if students were going to college in record numbers to study engineering, or computer science, or biology – professions with high employment rates – maybe these crazy sums would make some sense. Maybe." Except that would then reduce the "high employment rates" of those fields, or also reduce wages in those fields.
My country have a very different system.
The state pays for college and gives every student a stipend, but only the most worthy (highest grades) gets in, and the number of seats in each subject are determined by what society needs the most. For instance, we do not have causes in Gender Studies and the like.
Good video but I have a few questions: who should we vote for? Are there even Republicans that want to make college more affordable? If they say that, can we not vote for them?
I love reminding people that you can attend any public university tuition free. It's called the GI Bill. I served my time in uniform and then attended university with little debt afterwards.
Just about every business, including colleges, want a pipeline from the Fed to its balance sheet. It is called rent-seeking behavior. These poor students are caught in a conduit that transfers money from the US government to universities. As a benefit, you are now dependent on the government, and they really like that. Vote how you are told or you will suffer.
Thank you
LOL, just make education free, like in the USSR. People will become professionals, make a lot of money and pay you a lot of taxes, because it is far better to make everyone rich and tax them than to have millions of beggars who will never pay their debts.
There is a mistake in westeros map. Orange shaded region is Crown lands not Dragonstone.
for some reason people think becouse they live in a modern soiety, they will be treated kindly. Life has allways and will allways be about who can achive the most out of there limited time. If you know how to exploit other people, it will be indoctrainted to the system. Some one should go to all this schools and teach children to become as good survivors of life as possible. Stop the system from exploiting peoples naivity
Bagpipes would be worth every penny!!!!
https://www.youtube.com/watch?v=Rqv0nuP4OAU&ab_channel=EconomicsExplained
I have an Ivy League degree and a good income – using skills I learned over the internet for about $500.
My wife got her Associates in Nursing at a 2-year college, then her bachelors at a state college, and finally her Masters at a private college. She worked full time during her 6 years of school and the total cost of schooling was approximately $40K. Her hospital employers picked up a generous amount of the tuition and books. She sold her books on Amazon to help defray the costs. She graduated debt-free and is a Nurse Practitioner making $130K in her third year.
Amazing true content
Who said college was supposed to be about pursuing a career? The purpose of a college education is to teach you how to think, not what to think. There are those in the academy who have subordinated first principles to their personal agendas but they have forgotten why they are in the classroom just as you have forgotten why the classroom exists in the first place. Why do you approve of those who study science and criticize those who study arts? The world needs people who study things other than science. You said that colleges “are no longer primarily about preparing you for a career.” Unfortunately, that is precisely what colleges are about, you just do not want to pay people for non-utilitarian products.
Go to a good trade school !
I do highly recommend if your 50/50 on things, consider to take 1/2 a semester or a year off before college.
Maybe attempt to get a job and make some money or just decide more in your major.
Might get slightly more mature too. I had 9 roommates and only 5 or 6 of us graduated because they just had fun and didn’t take it seriously.. (1 person was just an idiot though)
My case is different because I have medical problems and then had more medical problems that screwed me up more and made college long and boring.
It's a student's choice whether to borrow money for education. They should decide if the potential increase in earning-power is worth the investment. It's their choice AND THEIR RESPONSIBILITY. No one else's. It's part of personal responsibility, which is in short supply under the Left's demented view of the world.
This needs to be screamed from the rooftops of high schools all over the country!
The BIGGEST problem with loan forgiveness is……It only treats PAST issues. This fall, and every semester forward, the same problem will start to build itself right back. Unless the problem is fixed at the source (Universities) giving loan forgiveness is simply a temporary band-aid on the problem.
This fall….a whole new batch of kids take out a whole new batch of loans. And this continues every semester.
I'm so glad I didn't fall for this scam… I almost did.
I was directionless, I had nowhere to go, I didn't know what to do…So instead I enrolled in Job Corps because it was free. Now I make $21 an hour, debt free…they actually paid me, gave me a place to live and hooked me up with a job when I graduated
The interest is worse than the loan. Understand how the interest works, take out as little as possible, seek grants and scholarships, work while in school, consider starting at a community college for a cheaper option for the 1st couple of years, consider job options and high demand careers after graduation. College isn’t for everyone. Consider a trade and entrepreneurship.
It’s almost like the government should step in and reduce the tuition fees that colleges demand. That way anyone can go to college. Higher education should not be simply preparing you for a career, get your head out of the capitalist machine
If my parents weren’t pay my for my college so I can get my international business degree, I wouldn’t go cause of how ridiculous the price is.
Best content on YouTube.
The only fix to rising college costs is to have to have the government GTFO out of student loans entirely. And return it to the privite sector.
I was a young adult in my early twenties working on getting my Plumbing license. So many of my friends were happy to get a college loan for a useless degree that a privite bank won't give them.
Just forget this nonsense and study aborad.
https://youtu.be/IHKbEoc-_mI