STUDENTS LOANS ARE HUGE PROFIT-CENTERS FOR THE GOVERNMENT


“The U.S. Department of Education is foresee to beget $127 billion in distinction over the subsequent decade from lending to college students and their families, ac…

{ 25 comments }

Derek Thomas Lirio May 1, 2014 at 1:27 pm

I’m 25 years old, and since the age of 16, have worked for me. I’ve always
given the orders, I’ve always been in charge, and everyone who has worked
for me, has profited. I don’t care if no one will hire me as an employee
if I have no degree. I market my skill, I handle customer relations, and I
have networks of affiliates. People call me a genius, but the truth is, I
just didn’t go to school and follow directions. I figured out, on my own,
what I needed to do, I learned to do it, and I did it. That’s it, it’s not
complicated. The federal government is a brain dead lump of submissive,
self interested prepubescents. 

Kevin Burgess May 1, 2014 at 1:27 pm

It’s not a ‘profit’ center, if people cannot pay them off, either over a
lifetime, or perhaps never.

ghostofdayinperson May 1, 2014 at 2:25 pm

The Federal Reserve is a ponzi scheme. The government owes all students a
free education and reimbursement for existing debt. This country is far
from broke.

Mr-D-DiVine-1 May 1, 2014 at 2:57 pm

The banks and the Government are not getting anything until their is jobs
available to pay back the debt. it seems that banks and corporations are
taking a firm grip on the american people.

SciGuy May 1, 2014 at 3:46 pm

The amount of loan debt I’m currently racking up will guarantee that I will
be living with my parents for quite a while, even while having a job. 

MarcusDubious May 1, 2014 at 3:50 pm

Higher education is rationed by the establishment as the one thing they
fear is a fully educated voter/consumer.

juicyappleish May 1, 2014 at 4:18 pm

I’m a republican but I’ll marry Ana any day.

iteach74 May 1, 2014 at 4:32 pm

My brother works as a mailman. He makes $29 an hour. No student loan debt.
Full benefits with a 401k retirement package that the company matches. He
does pretty well.

College isn’t for everybody. I see so many young people in college who do
not belong there. They also are going after degrees that are useless:
Anthropology, Literature, Art, etc.. Does it make sense to take out $60k in
student loan debt when you’re probably going to be making $30k? 

CryptedSky May 1, 2014 at 4:41 pm

The answer is simple DON’T STUDY IN THE USA. Go get a degree in a foreign
university and find a way to stay there, America is fucked, don’t raise
your family in America.

I see a future where people flee the US in search of freedom.

chasemebaby May 1, 2014 at 5:40 pm

When I was in 3rd grade my teacher talked to the class about college. She
said it was 4 more years of school after high school. I said “why would I
want to do 4 more years of school?” She said because you should if you want
to have a good job when you’re a grownup. In 2014 more than 50% of college
graduates are unemployed or under employed (considering the field they
studied in). Moreover, they are swimming in debt. I seriously hope that the
teachers of this generations kids will equip them with all the
information they need about college in our current times. Before coercing
them into volunteering for more school and never ending debt. Because
heading off to college is just not what it used to be. Except for spring
break. That has remained perfectly intact.

Philosopher Prince May 1, 2014 at 6:35 pm

I’ve formulated a plan to use CLEP Tests, and community college to reduce
the time and cost of my education to a minimum. I’ve been saving to be able
to pay for it up front without having any debt.

It’s not as lofty as going to a 10-30k a year institution and incurring the
debt, but I’m sure that there are a number of individuals that might be
willing to consider a “life hack” type approach like this one.

hallavast May 1, 2014 at 6:48 pm

Where is that asshat, Mankiewics in this video? Surely he would like to
come in and bash junior and community college graduates for seeking a less
expensive education within the context of this video.

Leif Peterson May 1, 2014 at 6:53 pm

Fuck, those Interest Rates are horrible. My PRIVATE student loan has a
smaller interest rate than the Grad rate. 

YR2050 May 1, 2014 at 7:06 pm

Government makes profit off the middle class and give it as charity to big
corporations and banks. 

Bankside1997 May 1, 2014 at 7:29 pm

The Federal Reserve and the Federal Reserve Banks are owned by private
banks. Literally. So lending money to their owners will have to be at
almost zero percent.

John Jenkins May 1, 2014 at 8:10 pm

While most civilized countries give their students a free college
education….Our Govt profits from our students keeping them in debt…..
The Govt is profiting on it’s citizens while using that money for wars and
tax breaks for the rich…

Published on Apr 19, 2014
“The U.S. Department of Education is forecast to generate $127 billion in
profit over the next decade from lending to college students and their
families, according to the Congressional Budget Office.

Beginning in the 2015-16 academic year, students and their families are
forecast to pay more to borrow from the department than they did prior to
last summer’s new student loan law, which set student loan interest rates
based on the U.S. government’s costs to borrow. The higher costs for
borrowers would arrive at least a year sooner than previously predicted.”*
The Young Turks hosts Cenk Uygur and Ana Kasparian break it down.

Davis R Callaway May 1, 2014 at 8:47 pm

In England you don’t have to pay back student loans until you make at least
21,000 pounds a year (~$36,000). If you don’t pay it off in 30 years, they
just write it off.

Argentina, Sweden, Scotland and Norway have public colleges with free
tuition.

Then you have the US where Student Loan Debt is over 1 Trillion. 

Finish303 May 1, 2014 at 8:53 pm

Meanwhile in most civ countries: Free education or if you gradutuate the
debt is gone!

DamarSweetness May 1, 2014 at 9:25 pm

America, that country where a micro-cellular biology graduate is working at
your local walmart or mcdonalds.

romanmir01 May 1, 2014 at 10:24 pm

3:31 – BUYING shit does NOT ‘stimulate the economy’. Obviously the majority
of USA population should have SKIPPED on college entirely, which is evident
based on the nonsense like what Ana is spewing here that these college
graduates keep regurgitating. The economy is PRODUCTION. Consumption is a
trivial consequence of production. The reality is that there shouldn’t be
any central bank printing money and giving it out to ANYBODY, including
banks, and the banks would not have behaved the way they did if there was
no FDIC and Fed standing behind them with bailout money ready. There
shouldn’t be ANY government created liquidity, because all that is, it’s
just pure inflation, which is why the prices for college education are
going up (plus, the government created an enormous FAKE demand for these
college degrees based on all this fake money thrown into the system to hand
out as loans). Most of these students shouldn’t even go to college, those
who would, would be paying much lower prices for it in today’s age of high
technology if there was no inflation created by the gov’t and if there was
no fake demand created by the federal reserve.

Anyway, as always, government propaganda 1, reality 0, the complete lack of
economic knowledge strikes again as is evident from TYT and its viewers
commenting on this nonsensical video.

Daniel Manahan May 1, 2014 at 10:42 pm

It doesn’t matter how much interest the government charges for student
loans, because the real crooks are the schools taking stupid amounts of
money for tuition for an education that doesn’t get them work in the end.

what we need are educational programs ran by the companies that train you
for your career with the promise to work off that education and are
guaranteed a living wage. we need less risk to the students who pay too
much money to schools.

Augustus May 1, 2014 at 11:38 pm

If Cenk were to listen to our friend Peter Schiff, he would understand that
student loans are the sole reason of rising education costs in America. If
you’re a educational insitution and you realize that students have
unlimited access to loans with hardly any barriers, this means that you are
able to charge whatever you wish.

The government is the only problem facing society.

Aaron Shotwell May 1, 2014 at 11:57 pm

Just another demonstration of the fact that the government is not there to
serve, to govern, or to administrate. They are there to rule with an iron
fist. They are predators, and they don’t give a fuck what the people
actually think or how they suffer so long as their pockets are lined with
gold.

goku540 May 1, 2014 at 11:59 pm

if your a student or anyone looking to make money in order to pay off bills
loans etc. please get in touch with me. i am looking for 10 to 20 people
who are serious and teachable. email me at nathan_price3@hotmail.com. peace
guys 

MsMommaRose May 2, 2014 at 12:45 am

Student loans are not “short term” and they are the reason that education
costs have sky rocketed. 

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