study loan

a new study indicates that the vastmajority of teenagers who take out loans to go to college don'tactually understand what the terms of the loans are.information revealed shows you how disastrous our current state of higher education is. theorganization that did this is known as a lendedu. >> if you are taking out a loanon your house, you put a lot of thought into it because you're going to have that loan forquite some time. even a small

movement in interest rates willaffect your money. but if you're getting a student loan, they arenot paying attention to how much their interest rate is. it ishard to tell someone to pay attention to something that isgoing to be relevant to you four years from now. even though the numbers aredepressing i am not surprised. >> bernie sanders' plan ofmaking public education free-for-all, if that happens and goes throughthat would solve quite a bit of

these issues. but let's say that doesn't happen. why don't wehave classes in high school that educate these teenagers about what a loan is? when i was outof high school i didn't know what an interest rate was? i hadno idea. these are issues you don't have to deal with untilyou are well into your adult years. now some students had totake out loans, they need to understand what the consequences are. let's have an electiveclass or a mandatory class that

high school students need totake so they know what they are getting themselves into. >> i don't know who i thoughtsallie mae was when i was 18. if you don't know, i hear you. butif sallie mae, whoever she is, is giving you a lot of moneythat you are going to have to pay back you shouldfind out who she is. >>yes. i don't blame thestudents. i can understand getting upset at students. justkeep in mind that when you are a high school student you are told

over and over again that the endgoal is to get a college degree. if a college education isimportant, but you are told and lied to as a teenager in regardto your degree, it doesn't work that way. you are going tograduate and you are not going to make a lot of money. you are not going to make a steadyamount of money and it will take you therest of your life to pay back the $150,000 instudent loan debt. stop lying to them and telling them they aregoing to be wealthy after they

get a college degree. it is a misconception that isconstantly told to you when you are young. >>there we have a slightdisagreement. you are right in general, as soon as you graduatethey don't throw rainbows and unicorns on you. at the sametime i believe you can get wealthy. >>but it's very rare. >>it requires a lot of work andit is not the most common

occurrence. bottom line is thatyou have to be a lot more realistic. only 28 percent ofstudents know that the government can take money fromtheir wages, social security payments, tax refunds, to recoupoutstanding loans. that is an important thing to know. only 37percent understood that if you declare bankruptcy, it isextremely hard to get rid of student loans. these are basicfacts that is incumbent upon us to teach people so that they areaware of life altering decisions they are making. just so youguys know, freddie mac is also

not a burger or a person. salliemae is a company. freddie mac, i don't know if you knowalso not a human being.