Harvard Students Tell Us How Much Debt They Have

Sooo I went to Harvard. I asked the students there about how they pay for school. We also talk about what they want to do with their degree, as well as their thoughts on the recent Student Debt Forgiveness. They provide some really great insights! It's obvious that they've put a lot of thought into their education.

Hope you enjoyed the video!

Please comment down below if we should do more college interviews like this.

Filmer: @cmmedia Carlos Morelos
Mic: Rode Wireless GO II

[ccloud]

The kid that said he was privileged DESERVES it. He is actually working hard with what his parents gave him. He's working on a PHD for crying out loud. Most spoon fed kids either drop out, get a bogus degree, or get hooked on drugs. Props to that kid for being honest and keep up the good work, America needs your skills to move forward.

[tarzan]

Most Harvard students don't have loans, even though Harvard's price tags seem very high. First, Harvard is very rich so if you are good enough to get in but your parents aren't rich, they will offer a lot of financial aid. If you get in and your parents are rich, you can afford the high price tags. This is the same for most expensive but very good, very wealthy universities. Most students at these universities actually pay out of pocket (after all the generous financial aids) less than a typical state schools. If you want to see people downing in student debts, go to ask students at 2nd or 3rd rate private universities.

[FanciDreama]

I always thought education was worth every penny, but after finding out different ways to go to school for free, I stopped paying for education. I went to a state university with a partial financial aid, while working at a minimum wage job day and night. My hard work paid off, I was debt-free when I graduated and also got a full-ride scholarship for master’s in Europe. Being debt-free really allows me to do what I truly want, instead of being stuck in a job that I don’t want, just to pay for what I owe.

[justsomeguywithasandwich]

This is why I’m depressed when it comes to school. I am not gifted in anyway, and I got bad memorizing skills. Despite actually trying hard in high school, I stood no chance when it comes to applying for any of the top school. I thought maybe I can make myself feel better by watching this video, because I was expecting them to have some pretty big debt. That way I can convince myself that we are all in this together, no matter how smart or dumb you are. Nope, I guessed wrong. First student interviewed—4 years CS Harvard with $0 debt. I’m happy for her, I’m sure she worked hard. But man…I feel stoooopid.

To those out there who is currently stressing out about school. Please know that you aren’t alone. There are a lot of other people just like you too, and I’m sure of it. I don’t plan on giving up anytime soon, imma keep pushing in life, until I find gold. Good luck random stranger-who reading this comment.

[u]

Prestigious private schools like Harvard provides extremely generous financial aid for students who are less privileged. If you are from a upper middle class you are more likely to have a lot of student debt because you are less likely to be qualified for financial aid but your parents are not making enough money to cover the cost of your education which is about 80k a year

[k-ace-x]

I’m really glad Damilare is planning to return home to help his community with his degree. I truly hope he achieves his dreams.

[blueswadeshoes]

It’s crazy to me that parents are paying 75 grand a semester for kids that don’t even know what they will do with the degree that they attain.

[brendanm]

Everyone he interviewed who had debt were in grad school or professional school. None of the undergrads had to pay more than they or their families could afford. That is so cool!

[shengliang]

Doctor here who had to pay back 300k.. It's not easy man.. taking it out is easy.. returning it is another story. That law private practice job is not as lucrative as you think when taxes are said and done. People don't really know how hard it actually is.

[tomektomaszewski]

Me watching from Europe.

Master degree in psychology- free
Master degree in Economy - free
PhD in psychology - free
MBA in economy - 5k EUR

Current yearly incomes - 300 000 EUR, no student loans and debts.

USA - greatest nation in the world 😂😂😂😂😂😂

[l.r]

My two cents on the student debt crisis:
The middle class gets screwed the hardest when it comes to college (and taxes). If you are poor you qualify for need-based scholarships. If you are rich your parents will just be able to afford your schooling. Middle-class people can not afford to retire and put their children in college. Our middle class takes out the most loans and that is why the middle class is dying.

Taxes- poorer people get tax breaks and governmental help, and rich people get tax breaks also. Middle class? They do the heavy lifting.
This is why I fully support student loan forgiveness. A strong middle class determines the health of an economy. There is also the notion that with less debt, the economy will grow as people are able to afford more. There is, however, the consequence of increased inflation.
My two cents.

[jevinkames]

Probably the worse big decision I've made was going to college without a real plan. If you want to do something in life that does not require a college degree or make what you want to do easier and more advantageous, or do not know what you want to do after highschool, do not go to college or at least wait. Getting a degree just to have a degree is definitely a very poor financial decision and waste or 4+ years. If you really do not know what you want to do after high school, look into trades and maybe follow one that seems interesting. You can make really good money with a trade and we need more skilled tradesmen than ever before. We don't need people with liberal arts degrees, we need plumbers, electricians, contractors, roofer, landscapers, pool technicians, builders, carpenters, welders, mechanics, farmers, ect. I am on my last semester, took 5 years to get a degree after changing my major twice, and will end up not even using my degree because I will end up doing a trade after I realized that I don't really like what I ended up going to school for. If I had started a trade right out of highschool and worked hard, I could have been making good money right now, bought a new car, and even possibly a house by now. If your parents are forcing you into school, don't listen to them and do what you truly want to do. I know that is hard but I promise if you don't think school is right for you then not going will be the best decision of your life. $25-100k+ in debt, especially with the coming economic collapse, is going to be devastating. And no, Joe Biden or any other government members and politicians will not save you.

[AydanJane]

I had no idea that there was any school that costs more than $80, 000, thats absolutely insane

[giorgia]

the fact that in America you need to get yourself in debt (in the majority of cases) just to study is so messed up, I swear. Studying shouldn't be a privilege, and this system makes it look exactly that way.

[umvemnyama]

Its amazing that you giving people books to learn how to escape and avoid future debt

[theagenttomato]

My job is to assist college bound students. Some of this information is inaccurate. Allow me to clarify...
1) The AVERAGE debt for a 4-yr B.A./B.S. is $34, 000
2) 65% of students (B.A./B.S.) have student loan debt (Public College, Private is +$27, 000)
3) Financial Aid doesn't automatically mean $0 Debt. "Financial Aid" is an umbrella term, which includes loans (sub and unsub), grants, state (if applicable) and federal aid. Most of which consist of student loans —thanks America. Unless you're fortunate enough to have family support, scholarships, or grants, you WILL have debt or some degree of debt. Now, Ivy Leagues offer free-tuition, which roughly 20-25% of undergraduates benefit from. Keep in mind this may or may not include housing, but doesn’t take into account cost of living.
Low Income? If you have the grades but not the income (dependent or independent) schools will offer you a scholarship/evaluate you/your families income to determine what tuition cost is "affordable" for you —the more prestigious the school the more generous the support. If you come from low income you'll have advantages, unlike middle class —which you're basically out of luck.
Side Note: don't shy away from sharing your debt frustrations; there is 0 shame for getting a student loan to pursue a higher education. You are NOT at fault for the insane cost of college --(again) thanks America. Share so others learn. Be real. Be honest. The biggest disservice you reinforce is not sharing information and insight about the insanity that is student debt, this can help both yourself and others how to better prepare (and pay off) your debt sentence. At the very least, know you are not alone in this.

[arzigogolato]

For future students from the US, just so you know: Europe has good to great universities that cost pennies compared to Harvard (even the UK is a bit cheaper, but still costly) and (almost) free healthcare. You get a new experience, learn a new language, and avoid getting a debt altogether...The Netherlands has great unis (and you can get along life without learning Dutch, to be honest it is difficult to learn Dutch as Dutch people will only speak English with you), but if I were you I'd try to go to Spain, Portugal, France, Germany, Austria, Italy etc. so that you can learn a new (very common) language too :)

I'm not joking: in some of these countries we are talking about paying a few hundred to a few thousands (3-4) bucks per year in university taxes...and, please, don't worry about the quality: just look at the names of professors in the US: a significant part of them comes from Europe...

As an example: during my university years, each year I was paying around 2/3k in taxes, 3k for my room, and then books, food, a bicycle to get around; the grand total was around 8k of "necessary" expenses per year to study, eat and be healthy...probably now it would cost 12-15k, but no more than that...and there are scholarship which can cover a significant part of that, especially if you are lower income or a very good student, plus there are student jobs to help you cover those expenses...

[StephensCrazyHour]

Harvard has an endowment that is large enough that they could charge every student $0 and not be impacted. They charge those kinds of fees in part to make money, but more to act as a prestige statement. And unless you are doing a select few degrees, it's almost certainly not worth it, nor is it necessary to make a great living.

[aleydrus]

I’m 39 with no loans of any kind. Of course not going to college helped a lot 😂. BTW I live in the San Francisco Bay Area, I’ve never had a salary above 70k and I comfortably support a family of 5.

[rababshahzad]

The western world really gets such quality education that anybody from a different part of the world can't afford at all!