| 00:00:00 | AVERAGE, $24,000 IN STUDENT LOAN DEBT, UP 6% FROM THE PREVIOUS YEAR. |
| 00:00:09 | BEN MILLER, WHAT ARE RECENT COLLEGE GRADUATE FACING WHEN THEY COME OUT WITH THAT MUCH DEBT AND UNEMPLOYMENT THAT HIGH? |
| 00:00:17 | GUEST: I THINK THEY ARE FACING THE SAME ISSUES THAT ALL WORKERS ARE FACING. |
| 00:00:21 | BASICALLY, IT IS VERY TOUGH TO FIND A JOB. |
| 00:00:24 | ESPECIALLY IF YOU ARE A RECENT COLLEGE GRADUATE BECAUSE YOU DO NOT HAVE A LOT OF EXPERIENCE. |
| 00:00:30 | YOU WILL HAVE TO SHOW THAT YOU CAN COMPETE IN THE WORKFORCE. |
| 00:00:33 | THAT SAID, THEY WILL BE IN A BETTER POSITION THAN SOMEONE WHO DOES NOT HAVE A COLLEGE DEGREE. |
| 00:00:42 | BUT PEOPLE WHO HAVE A LOT OF DEBT, IT CAN BE VERY HARD. |
| 00:00:47 | IN D. |
| 00:00:49 | C., THE AVERAGE STARTING SALARY IS VERY LOW. |
| 00:00:52 | IT CAN BE VERY HARD TO MEET REPAYMENTS. |
| 00:00:55 | HOST: IF YOU ARE FACING $24,000 IN DEBT, AND YOU CANNOT FIND A JOB -- LET'S DEAL WITH THAT SCENARIO FIRST. |
| 00:01:03 | DO YOU HAVE TO START PAYING OFF THAT DEBT RIGHT AWAY? |
| 00:01:09 | GUEST: EVERYBODY GET SIX MONTHS RIGHT OFF THE BAT, BUT THERE ARE ALSO PROTECTIONS TO HELP CONSUMERS. |
| 00:01:16 | IF YOU CAN MAKE YOUR PAYMENTS, YOU CAN CALL YOUR LETTER AND SAY, I'M UNEMPLOYED AND THEY CAN PUSH IT INTO A FORBEARANCE. |
| 00:01:25 | FROM THERE, YOU DO NOT HAVE TO WORRY ABOUT GOING INTO DEFAULT. |
| 00:01:29 | THERE IS ALSO SOMETHING CALLED INCOME-BASED REPAYMENT WHERE BORROWERS CAN SEE THERE PAYMENTS REDUCED. |
| 00:01:39 | -- CAN SEE THEIR PAYMENTS REDUCED. |
| 00:01:42 | WE DO NOT WANT TO BE IN GETTING STUDENTS TO THE POINT WHERE THEY GO INTO DEFAULT OR BANKRUPTCY BECAUSE THEN THEY CANNOT DISCHARGE THEIR LOAN AND THEY WILL NEVER COME OUT FROM THAT DEBT. |
| 00:01:54 | HOST: WANT TO TALK TO COLLEGE STUDENTS AND RECENT GRADUATES. |
| 00:01:59 | WE WANT TO TALK TO YOU ABOUT WHAT SORT OF DEBT YOU ARE FACING. |
| 00:02:07 | WHY ARE STUDENTS GRADUATING WITH MORE DEBT THESE DAYS? |
| 00:02:12 | WHAT IS HAPPENING? |
| 00:02:15 | GUEST: GENERALLY, YOU JUST SEE THE COST OF COLLEGE GETTING ASTRONOMICAL. |
| 00:02:20 | THERE ARE A COUPLE OF REASONS FOR THAT. |
| 00:02:22 | IN THE PUBLIC SECTOR, IT IS BECAUSE GOVERNMENT SEES COLLEGE TUITION AS A WAY TO SAVE MONEY ON THEIR END. |
| 00:02:29 | WHEN BUDGET GET TIGHT, ONE OF THE FIRST THINGS TO GET CUT IS HIGHER EDUCATION. |
| 00:02:34 | YOU CANNOT MAKE AN ELEMENTARY OR SECONDARY EDUCATION STUDENTS PAY FOR SCHOOL, BUT YOU CAN WITH HIGHER EDUCATION. |
| 00:02:41 | THERE WILL CUT THEIR BUDGET AND THE FIRST THING SCHOOLS DO IS RAISE TUITION RIGHT AWAY. |
| 00:02:46 | THE SECOND THING YOU SEE IS AN ARMS RACE OVER THINGS LIKE THE DORMITORIES AND FACILITIES. |
| 00:03:04 | YOU HAVE A SITUATION WHERE A DISCERNING CONSUMER HAS NO WAY TO KNOW WHAT VALUE THEY ARE GETTING. |
| 00:03:12 | BASICALLY, THEY SEE A HIGH PRICE TAG AND THINK THAT IT IS GOOD INVESTMENT. |
| 00:03:21 | THOSE THAT KEEP CONSTANTLY RAISING THEIR TUITION AND PUTTING STUDENTS INTO DEBT, THERE IS NO WAY TO STOP THAT BECAUSE NO ONE IS WALKING AWAY AND SAYING IT IS NOT WORTH THE MONEY BECAUSE THEY DO NOT KNOW. |
| 00:03:33 | HOST: LET'S LOOK AT PUBLIC SCHOOL VERSUS PRIVATE SCHOOL. |
| 00:03:38 | A PUBLIC FOUR-YEAR COLLEGE CHARGES, ON AVERAGE, $7,020 PER YEAR IN TUITION AND FEES FOR STUDENTS WHO LIVE IN THEIR STATES. |
| 00:04:00 | WHAT ARE PARENTS AND STUDENTS GETTING AT THAT PRICE TAG? |
| 00:04:05 | GUEST: THE PRIVATE COLLEGE, USUALLY, SMALLER GLASSES AND MORE ATTENTION, BUT THAT IS NOT ALWAYS THE CASE. |
| 00:04:15 | -- SMALLER CLASSES AND MORE ATTENTION, BUT THAT IS NOT ALWAYS THE CASE. |
| 00:04:25 | IN A LOT OF CASES, WHAT THEY'RE DOING IS SUBSIDIZING THINGS, LIKE RESEARCH FOR PROFESSORS TO DO NOT TEACH A LOT. |
| 00:04:34 | THEY MAY BE SUBSIDIZING A VERY, VERY NICE STORM. |
| 00:04:38 | YOU MAY HAVE COST OF LIVING, BUT NOBODY IS MAKING SURE THAT THE EDUCATION IS WORTH THE MONEY. |
| 00:04:49 | HOST: IS THERE A WAY TO LOOK AT PUBLIC EDUCATION VS. |
| 00:04:55 | PRIVATE? GUEST: IF YOU WERE |
Loading...