[Part 2] Sallie Mae is the largest student loan company. We look at a 60 Minutes report on Sallie Mae and how Sallie Mae, with the help of government, makes a lot of money off of student borrowers.
Student Loan Scam
Posted by admin on July 31st, 2011
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So if the gov pays Sallie Mae for unpaid loans, and the money comes from our taxes, then that means that student loans are making our taxes go up?
the man commentator is a fuking loser i beleive if u go to college get a gov loan interst is less
The commentary is pretty annoying, I wish I could find the 60 minutes piece that didn’t have this guy yammering on it.
@SaviourSole
Lol. That is a good question. Maybe he wants to spread awareness on the dangers of getting a college degree when you cannot afford one financially.
@00dev When you finish school then get a job. ya bum lol j/k but seriously just get a fucking job.
Why is DontGoToCollege so obsessed with this? Most people who choose a path in life don’t devote their lives to campaigning against the path they didn’t take…
I get the impression that the banks have found a whole series of “profit nodes” to stick up the American people…from mortgages, to credit cards, and here, to student loans. Stay clear of these guys, and their sales pitch for easy credit. They profit first, and mightily. If it sounds too good to bet rue, it likely is. Be careful and responsible by treading carefully. The old adage “may the buyer beware’ is as true today, as it ever was.
Respond to this video…
The loan banks are now trying to garnish my wages. Im sure if its happening to me, then millions of other people out there that got dismissed from theyre colleges are in the same shitty situation of paying back debt for a degree that they never even attained. Its a raw deal. Other countries help students pay for school, or the school is free, or they even pay the student to go to advanced schools, but america is a predatory lending country.
@lilpiska i did get a lawyer, 2 of them actually, but the way the world works is; many judges are freemasons, and if your university president is also a freemason, guess what??? your going to lose. i never got a trial, and i realize that the world is way far from being a place where justice and fairness is the rule of thumb, this world is really corrupt. This country America encourages and allows predatory lending, and the government is in on the racket to prey on the citizens. Real truth.
@TVFOGGED i did get a lawyer, and after a year of dispositions, he asked me for 3000 dollars up front to continue the case, i did not have the 3 grand, and the judge through my case out before i even got a chance to go to a trial. All i needed was a jury and they would have seen that i was ripped off, and gave me my tuition money back, but the judges are sometimes friends with the university officials, and its a small town racket, that you cannot win. Especially if your not a freemason.
@nosmailliwydocbocaj they can garnish wages, its called predatory lending, they know that when you get out the job market is very poor, and they can get a judge to order your wages garnished to pay back the man, with the high interest rates, its hard to even touch the prinicipal, thats how they have created a nation of debt slaves.
@HealingVibrations see if you can get in touch with a lawyer. that is a shitty, shitty situation.
In college, in the mid 1980s, I was told more than a few times by fellow students to “just get the piece of paper (degree)”, when I claimed I didn’t feel like a particular class was teaching as much or as well as it could. We did have some good mentoring (by most profs and TAs) and good lab equipment to practice on, but most of the rest could’ve been learned–as was stated in one of your other videos–in any sizable public library.
So where do I get good loans. I need to come up with 30,000 dollars or I can’t go to the school I was accepted to.
@00dev They will find you
In hopes that students from these schools might be able to submit their information into an online database. Just go to the Campus Progress website and click “for profit colleges” then scroll down and click “submit your story”
lol, I’m about to graduate in march, I’m kinda scared. But they can’t take anything from someone who doesn’t have anything.
@lulubellstallings I am feeling the pain now. If I knew what I know now, I probably would had never went to college.
We need to do like Egypt and get some damn guts!!! Sallie Mae and any other lender needs to be demolished. This country is more fucked up than we think. WAKE UP PEOPLE! They are misusing and abusing us, and use other tactics to pacify us. This shit has got to end; to many of us followed protocol because we thought we were doing the right thing. Well weren’t we wrong?! Land of the free MY ASS!
@wolgreth I studied abroad in London for over a year (finished my degree there), and when they want to go to a university, they get the money. No private loan junk. Now they do have to pay it back, but here’s the kicker (and makes this country even more lol), they don’t have to until they get a job. AND their government has it where, they are only obligated to pay the loan back when they can afford to, meaning a higher paying job. Until then, they don’t have the stress we do, if at all.
Private university, no scholarships or any help, family with bad credit and myself with no credit, only folks able to help were my grandparents (co-signed), recent grad with NO JOB…yeah I can’t leave the country and have this evil corp hounding and attacking my elderly grandparents….I’M FUCKED!!! If they weren’t in the picture, I’d say whatever, but now…DAMN DAMN DAMN!!!
If you go to college,you’re going to make someone else rich. Look at all the freaks in hollywood who are making millions. How many of them went to college? How many needed to go to college? Just have to have good looks and a bunch of life-issues. To make money,get in the entertainment industry.
@lulubellstallings But it’s all there in the very fine print where it says “we will screw anyway we can.”
@00dev What country would you go to? Would you be able to get a job there with your degree? Would the university acknowledge your degree if the loans have not been paid?
Every time they show Elizabeth Warren they should CGI a halo over her head.