How Much Do You Really Know About Your Student Loans?

A NEW STUDY INDICATES THAT THE VAST MAJORITY OF TEENAGERS WHO TAKE OUT LOANS TO GO TO COLLEGE DON'T ACTUALLY UNDERSTAND WHAT THE TERMS OF THE LOANS ARE INFORMATION REVEALED SHOWS YOU HOW DISASTROUS OUR CURRENT STATE OF HIGHER EDUCATION IS

THE ORGANIZATION THAT DID THIS IS KNOWN AS A LENDEDU >> IF YOU ARE TAKING OUT A LOAN ON YOUR HOUSE, YOU PUT A LOT OF THOUGHT INTO IT BECAUSE YOU'RE GOING TO HAVE THAT LOAN FOR QUITE SOME TIME EVEN A SMALL MOVEMENT IN INTEREST RATES WILL AFFECT YOUR MONEY BUT IF YOU'RE GETTING A STUDENT LOAN, THEY ARE NOT PAYING ATTENTION TO HOW MUCH THEIR INTEREST RATE IS IT IS HARD TO TELL SOMEONE TO PAY ATTENTION TO SOMETHING THAT IS GOING TO BE RELEVANT TO YOU FOUR YEARS FROM NOW

EVEN THOUGH THE NUMBERS ARE DEPRESSING I AM NOT SURPRISED >> BERNIE SANDERS' PLAN OF MAKING PUBLIC EDUCATION FREE-FOR-ALL, IF THAT HAPPENS AND GOES THROUGH THAT WOULD SOLVE QUITE A BIT OF THESE ISSUES BUT LET'S SAY THAT DOESN'T HAPPEN WHY DON'T WE HAVE CLASSES IN HIGH SCHOOL THAT EDUCATE THESE TEENAGERS ABOUT WHAT A LOAN IS? WHEN I WAS OUT OF HIGH SCHOOL I DIDN'T KNOW WHAT AN INTEREST RATE WAS? I HAD NO IDEA THESE ARE ISSUES YOU DON'T HAVE TO DEAL WITH UNTIL YOU ARE WELL INTO YOUR ADULT YEARS

NOW SOME STUDENTS HAD TO TAKE OUT LOANS, THEY NEED TO UNDERSTAND WHAT THE CONSEQUENCES ARE LET'S HAVE AN ELECTIVE CLASS OR A MANDATORY CLASS THAT HIGH SCHOOL STUDENTS NEED TO TAKE SO THEY KNOW WHAT THEY ARE GETTING THEMSELVES INTO >> I DON'T KNOW WHO I THOUGHT SALLIE MAE WAS WHEN I WAS 18 IF YOU DON'T KNOW, I HEAR YOU BUT IF SALLIE MAE, WHOEVER SHE IS, IS GIVING YOU A LOT OF MONEY THAT YOU ARE GOING TO HAVE TO PAY BACK YOU SHOULD FIND OUT WHO SHE IS

>>YES I DON'T BLAME THE STUDENTS I CAN UNDERSTAND GETTING UPSET AT STUDENTS JUST KEEP IN MIND THAT WHEN YOU ARE A HIGH SCHOOL STUDENT YOU ARE TOLD OVER AND OVER AGAIN THAT THE END GOAL IS TO GET A COLLEGE DEGREE IF A COLLEGE EDUCATION IS IMPORTANT, BUT YOU ARE TOLD AND LIED TO AS A TEENAGER IN REGARD TO YOUR DEGREE, IT DOESN'T WORK THAT WAY

YOU ARE GOING TO GRADUATE AND YOU ARE NOT GOING TO MAKE A LOT OF MONEY YOU ARE NOT GOING TO MAKE A STEADY AMOUNT OF MONEY AND IT WILL TAKE YOU THE REST OF YOUR LIFE TO PAY BACK THE $150,000 IN STUDENT LOAN DEBT STOP LYING TO THEM AND TELLING THEM THEY ARE GOING TO BE WEALTHY AFTER THEY GET A COLLEGE DEGREE IT IS A MISCONCEPTION THAT IS CONSTANTLY TOLD TO YOU WHEN YOU ARE YOUNG >>THERE WE HAVE A SLIGHT DISAGREEMENT

YOU ARE RIGHT IN GENERAL, AS SOON AS YOU GRADUATE THEY DON'T THROW RAINBOWS AND UNICORNS ON YOU AT THE SAME TIME I BELIEVE YOU CAN GET WEALTHY >>BUT IT'S VERY RARE >>IT REQUIRES A LOT OF WORK AND IT IS NOT THE MOST COMMON OCCURRENCE BOTTOM LINE IS THAT YOU HAVE TO BE A LOT MORE REALISTIC

ONLY 28 PERCENT OF STUDENTS KNOW THAT THE GOVERNMENT CAN TAKE MONEY FROM THEIR WAGES, SOCIAL SECURITY PAYMENTS, TAX REFUNDS, TO RECOUP OUTSTANDING LOANS THAT IS AN IMPORTANT THING TO KNOW ONLY 37 PERCENT UNDERSTOOD THAT IF YOU DECLARE BANKRUPTCY, IT IS EXTREMELY HARD TO GET RID OF STUDENT LOANS THESE ARE BASIC FACTS THAT IS INCUMBENT UPON US TO TEACH PEOPLE SO THAT THEY ARE AWARE OF LIFE ALTERING DECISIONS THEY ARE MAKING JUST SO YOU GUYS KNOW, FREDDIE MAC IS ALSO NOT A BURGER OR A PERSON

SALLIE MAE IS A COMPANY FREDDIE MAC, I DON'T KNOW IF YOU KNOW ALSO NOT A HUMAN BEING