The massive student debt crisis is worse than we ever thought. Cenk Uygur, Ana Kasparian, Joel Stein, and Nomi Prins hosts of The Young Turks, break it down. Become a TYT member at: http://tyt.com/JOIN

Read more here: https://www.marketwatch.com/story/3-ways-the-great-recession-turned-americas-student-loan-problem-into-a-crisis-2018-09-06

“What’s more, Newmeyer is still paying for a degree that he realized shortly after graduating would have cost much less at a community college. WyoTech was part of Corinthian Colleges, a chain of for-profit schools that collapsed in 2015 amid allegations it misled students. Meanwhile, Newmeyer said he and his family are struggling to manage the $78,000 he acquired from attending the school.

‘Right now it doesn’t fit into my budget and I’m ignoring phone calls,’ Newmeyer said of his student loan bill.

He is just one of millions of students who made sometimes desperate decisions in the aftermath of the financial crash to improve their skills and hopefully find well-paid work.”

Hosts: Cenk Uygur, Ana Kasparian, Joel Stein, Nomi Prins

Cast: Cenk Uygur, Ana Kasparian, Joel Stein, Nomi Prins

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24 Comments

lcyw20 · September 9, 2018 at 10:18 am

Education from a social perspective is necessary as an investment of the community for itself. The community will always need more doctors and nurses, more teachers, more architects, more technicians and engineers, more scientists, more cooks, more economists, etc. I feel any given community should at least invest partly into nurturing new generations of skilled labourers who are all necessary to keep the community running. Laden graduates with debt, and it puts a lot of people off going into education, while the pressure on graduates adversely affects their productivity.

Jonnie Bangkok · September 9, 2018 at 10:30 am

Don't worry Ana…just keep blowing Chimp and you won't get laid-off like those other Young Cucks did and you will be able to keep paying off your student loans.

Jonathan Gater · September 9, 2018 at 10:31 am

An uneducated population is easier to control the flipside is a low skilled work force paying low taxes and a weaker economy. The poverty gap widens to a point where you risk revolution and a class war.

Denis Daly · September 9, 2018 at 10:48 am

In social democratic countries (not socialist countries) like the Nordic countries, education is free. I live in Ireland. Education is affordable here. Hence we have higher educational attainment levels compared the US, and also earn alot more per capita. Education benefits the nation, so the government should play a prominent role.

Michael Wilson · September 9, 2018 at 11:19 am

Here is the prime reason why Americans think millennials are spoiled, entitled brats. American college graduates willingly signed a document that they knew was going to put them in piles of debt, yet they pose themselves as victims as if someone did them truly wrong. Every aspect of the loan they agreed to was explained ahead of time. This is the equivalent of paying for groceries with a credit card and then kicking and screaming two months later when you realize you can’t afford the groceries you bought. Assume some responsibility.

AIR GAMES · September 9, 2018 at 11:21 am

Education is a subsidy input to business. But of course they want a tax cut and workers they know they can crush.

Edwin Swezey · September 9, 2018 at 12:08 pm

I live in a country where all education, from pre-K to post-doctoral, is free of charge, i.e. paid out of tax money, and the tax rate is not even very high, though it's arguably a little higher than in the US. HRC's idea of debt-free college didn't set well with me. I just wondered, on that point, why she didn't accept Sanders' tuition-free idea. She did, however, mention that trade schools should be included and are arguably more important than college.

Michael Hobbs · September 9, 2018 at 12:10 pm

I'm not interested in a free college proposal that does not include forgiveness of past debts. The free college conversation ignores the people currently being crushed by debt.

LiS Wright · September 9, 2018 at 12:15 pm

Student loan interest is compounded daily….that's another reason why the cost doesn't go down. It takes double the amount of time to pay off.

Andrew Fletcher · September 9, 2018 at 12:20 pm

That's why only the "Best People" like Betsy "Brainwave " Devos are appointed. By TrumpTurd to the run the American Education System!

OG3MA2 · September 9, 2018 at 12:23 pm

What about how they add service fees and compound interest on it? The federal government offered to consolidate my loans, added service fees and started pursuing payment with threatening communications. Just recently they added $6000 more service fees and more to the mandatory payment. Anyway we all know the government will find a way to streamline all of their debt to the people. They tax us, bank the money and tell us we are bankrupt! Hail Babylon!!!

atwaterpub · September 9, 2018 at 12:34 pm

Only in America would parents finance their retirement by using the student debt of their own children as an investment.

God satan · September 9, 2018 at 12:35 pm

Yeah this is why i’m going into a trade .
These banks aren’t getting 20-40 years of my paycheck .

Travis Alex · September 9, 2018 at 12:38 pm

Until millennials have a chance to invest into the economic growth of the country by having the debts disappear, then the economy will continue to falter. Most millennials are working 2-3 jobs, longer hours, with no benifits, no health insurance, massive living expenses and living with 3 roommates just to scrape by, and yet, its somehow their fault.

Just realize to those who are against it, this hurts you everyday you fight it and disagree with it.

Billions of dollars in Tax cuts for Corps, no relife for your fellow citizens who are actually suffering. Just remember you are saying that is OK by denying this is a problem.

Zaini Mohamad · September 9, 2018 at 12:44 pm

education should be free

tom nickerson · September 9, 2018 at 12:47 pm

During obama college graduates had the worst job market in history, in addition these colleges are providing worthless liberal arts degrees in the market place. Where is there a job market with some with a gender studies degree?

daveme7 Emme · September 9, 2018 at 12:48 pm

I am not really sure about the one point Nomy Prins brought up. As far as pre-paying for your school, your dollar is worth less everyday. People running finances at these Ivy league schools understands this also. How are you goint to protect against inflation and the understanding your money is worth less today compared to yesterday. T^his could be another reason why they do this. I do not know what would happen if a student pre-pays for the degree program they are persuing…getting them locked on there will guarantee an outcome. What I am not sure about is what if they drop out-how much will be refunded to them if at all?

Shawn Allison · September 9, 2018 at 12:48 pm

You should look into the Public Loan Forgiveness Program and how all of 1000 or so people even meet the draconian requirements – AFTER working in public serice 10 years.

atwaterpub · September 9, 2018 at 12:48 pm

"America is a prison." – Zobo the Clown

Amos Soma · September 9, 2018 at 12:54 pm

Something that is overlooked and almost never discussed is the increase in cost of a college education. Tuition in a public four year institution for 1987-1988: $3,190. Tuition in a public four year institution for 2017-2018: $9,970. That's a markup of 163 percent. That's unacceptable and has nothing to do with "For Profit" colleges, that's public schools. Why has that been permitted to happen? Where the hell have the governors of the states where the public schools who increased costs by that much been? Why did they allow that to happen? I can remember when a kid could work part time while going to school and cover the costs.

Wood Rat RC · September 9, 2018 at 12:59 pm

learn a trade, school has become a predatory scam for the most part. everyone wants what they've been told success is. a corner office, a sports car, a mansion… 30 years of tuition is insane, buy a shit hole house, learn to build, do drywall, plumbing, electrical. by the time you learn some trade skills, your house is built and you have equity and little to no debt if you pay as you go. in five years you can learn a trade and own a home, revitalizing a run down house and a neighborhood all the while bypassing college debt and 30 years of payments. It won't work for everyone but it'll work for the people who work for it.

Lucas Pagan · September 9, 2018 at 1:28 pm

The reason why the government doesn’t pay off the $1.5 trillion in student loan debt is like everything else the general public can’t afford to get $100 million in donations to politicians

Whitney Mohrhauser · September 9, 2018 at 1:41 pm

A student is damn if they do go to college and damn if they don't. Most HR will not even consider anyone without a Bachelor's for an entry level position. By the same token most jobs do not even cover to pay for food and rent much less for student loans. In the STEM fields most companies like Disney in IT hire H1B guest workers instead hiring US citizens for simple reason labour costs are down for former. I believe for profit colleges should be put out of business. The Students Loans will cause a financial crises. I am all for that. If added to fact busineses and Corporations won't hire someone student loans.

Barbaste · September 9, 2018 at 1:46 pm

That's why you can never trust the state to solve your problems, not only because even the best policies can be undone by the next government…

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