What they dont tell you about student loans...

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This video is about what nobody talks about when it comes to student loans

Student loan debt is a hot topic right now and this video is going to be about the predatory nature of the current college landscape when it comes to student loans. We are going to go over how student loans are different than ANY other type of loan and what makes the unique differences so insidious.

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I make this video so that you are aware of what you're getting yourself into when you take out student loans. I still think that certain degrees are worth it, and I make videos about that, but the truth is if your degree doesn't have a good ROI, it isn't worth being in debt for the majority of the rest of your life.

Also, I'd just like to mention that I spend a TON of time researching these videos to give you all the best possible information. This video was TOUGH to research. Finding this information was like finding a needle in a haystack. There are vague warnings about the things that can be done to you with student loans, but it's tough to find exact numbers.

Why all the secrecy? This stuff should be out there. Student advisors should be warning people about this in high schools and colleges. It should be made extremely clear that these things can happen to you when you take out loans.

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These videos are for entertainment purposes only and they are just Shane's opinion based off of his own life experience and the research that he's done. Shane is not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, don't just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.

Sources:

[ShaneHummus]

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[TheRDGuarantee]

I work in higher education and its sad to see how uneducated 90% of incoming college students are about the decisions they're about to make. This is great to share more knowledge about how loans actually work. They aren't always BAD, but can be if you don't have the work ethic or plan to make your investment on yourself worth it. Great video!

[paulomolina]

Isn’t this the kind of video where you shouldn’t skip ads? I didn’t because this is so informative
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[alexisyuren]

OMG the interest! That’s scaring me already. No wonder the Useless degrees video had so much attention. That was one of your best videos!

[sheilamc]

Thanks for posting this, Shane! This is vital info I wish I'd known before I started. Another thing I found that you didn't mention is paying more to reduce principal. I could not. I was making double payments for 10 years and THEN found out that Sallie Mae was NOT applying my overpayment to principal. Instead, they informed me I didn't owe another payment for like, 10 years. And in addition to THAT, the loan debt was not decreased at all, in fact, it went up by about $3, ooo due to interest. I never missed a payment. No one from Sallie ever contacted me to let me know. I just kept paying ahead thinking I was paying down my loan. And the amount owed was somehow more after 10 years than it was when I began. So, I was just screwed. Didn't even get dinner. OH YAH, btw... got a degree in FILM. What a waste.

[jeremainerosal]

Hands down one of the best channels on Youtube

[Surfing]

I am glad that I live in the UK, tuition is cheaper it's 9, 250 pounds slightly less in US dollars. Our student loans are taken out of Student finance England, it doesn't impact our credit score and you only start giving money back once you have a job that is above a certain amount.
I wouldn't be able to afford college if i went to a US college.

[thespiderexterminator]

Dude! Literally you are the only one concerned enough to tell this to us.. Wow! Thank you!

[jerrygarrison]

Great video as always Shane. I agree with the middle class getting screwed over. My girlfriend is middle class and I feel bad for how much she has to pay. She was going to major in biochemistry but I told her that it wouldn't be the best. She says she'll just go to grad school but even I know that's a bad idea unless she goes and does something that would pay off the debt, like a PA school—those are in high demand. Anyway, have you done a video on your student loans or debt? I think it'd be an interesting video. Cheers!

[TheTigerBin]

Always research how much tuition, dorm, textbook fees, etc on the universities' websites before making decisions. Some may be too expensive for you. Get paid internships in the summer to pay off student loans and to start building your CV.

[sunshine-qwmd]

I'm starting college next fall, and taking out all these loans really stresses me out. I'm majoring in bio and plan on going to med/pa school(I still need to figure out which profession my heart is set out for, I flip flop due to the negatives with md), so I will need to go into a looot of debt. It just makes me feel so powerless to know that in order to follow my dreams, help make people's lives better, and study what I'm passionate about, I need to go into massive debt that will take years to pay off. UGH! I hate this country sometimes.

[willsong]

Thanks for all the effort to put out the best content Shane. Not skipping ads because you deserve it.

[solk.posner]

Thanks for the video Shane. I moved to the US over a year ago and the Student Loan here is insane. Glad to know more and this info is invaluable for any student.

[trynagta]

While workin a small time job for myself, Im self-educatin myself on finances and business 💯🧠 tellin you man I BEEN critical of doin loans fo college. What's the point? Ppl tryna go fo experiences and "vibes" rather than focus on the real important things. Its stressful, and a whole scam, and that whole loan thing is basically the LEGAL form of money laundering. Good video bro this type of content should have if not 900, 000, but OVER millions of views. That would shake things up for society ppl jus dont know mane and its sad. Best to be smart than stoopid.

[adangarcia]

Hey, Shane I recently got accepted into a T20 school where I would go around 20 k in debt for four years (generous financial aid). However, I have the option of staying at home and profiting around 8k a year because of the number of scholarships I'm receiving from my state school. I need to make this decision before Friday and just wanted to hear your opinion. Thank you and have a blessed day, keep up the great work, no doubt you'll blow up on youtube soon.

[andreaandrade]

Not even my Asian parents oriented me about this.

[toddaustin]

Preach, bro!

Another awesome video! TY, Shane.

[soniamartell]

That's why I always tell my kids to be wise in choosing a degree. Thanks for the video Shane

[donnelly]

Five years, and now over 100k in student loan debt for a useless masters in exercise science, 2012 - 2017. Job skills gained during this degree, almost zero. Fast forward 2 and a half years. It's now been about 6 months with around $600 invested in making a career switch into data science through purchasing online courses and such. Job skills gained: I'd wager 100 fold compared to my masters degree. When all said is done in 3 to 4 months time, I'll probably have invested around $2000 in using online education and have enough job skills to apply for at least an entry level data analyst job making more than I have in both years combined following attaining my masters degree. If you sunk yourself in tons of debt for a degree and are working at minimum wage in a job you despise, clearly you have just made a costly error. I know.

[poisonedkiwi]

You are truly amazing!this is the most useful video for a current students