How student debt will cripple the American dream. | Dusty Wunderlich | TEDxUniversityofNevada

[@face_nemesis]

i dont even have a lot of debt, i just watch these videos to remind myself that life is horrible

[@genalee5211]

fortgalahad yep😀

[@ronfazer2423]

Yep, but remember Jesus does not care how much money you made or how many letters are after your name. I learned this from Life Changers Church (Chicago) God Bless You

[@megsinzoa7424]

@@ronfazer2423 i don't know how to tell you this, so il just go ahead and puke it out: You've been lied to, jesus was very aware of economics, to the point were he declared that no one should ever : turn my fathers house into a house of merchandise. Modern american churces = profit machines. Hence modern churces in america = false religion.

[@pinkgal206]

Lol

[@sandwhich14]

ron fazer There is no Jesus

[@emmacat3202]

Employers also demand an expensive college degree for everything, and yet they only want to pay 11 dollars an hour.

[@catherinearroyo5359]

That's the problem.

[@pep590]

Employers are less focused on what school is written on a candidates degree and much more concerned with what skills, experience, and knowledge that candidate that will help them succeed at the job. Internships, real world job experience, attitude, and networking are far more important than what major a candidate has.

[@charliediaz5018]

Agreed

[@ImAChristianFirst]

All these schools encouraging every student to go to college is very wrong. Not every student wants a job that requires a college education. You don't need an MBA to run a business. You can get a free education in a library to get a jump start on that. Then you need life experience. Education can never replace life experience. We also need more 1 yr schools and more employers only requiring a 1 yr school. All these employers require big degrees and then don't want to reimburse for them. Then their staff can't even qualify for a mortgage.

[@ImAChristianFirst]

And for the record I went to a 1 yr school and have a good job with a good return on my investment. Most degrees can't boast a 200% return on investment. Most do good to get 50% - 100%.

[@anythgofnthg154]

Yeah, until libraries come to be seen as a cost burden to society as well. With all due respect, your distinction between education and "life experience" are signs of the times we live in. In modern times education is seen as a means to an end-not an end in itself. When you consider the F-35 joint strike fighter's 1.5 trillion dollar price tag, a worthless jet that can't achieve any of the tasks it was set out to achieve (google Pierre Sprey), and that that price tag is equal to that of all the outstanding student debt, higher education shouldn't seem like such a cost burden. And that's before even considering solutions to bring the grossly over-inflated costs of education down. Why should it cost so much for Lib Art majors to get together with a few books and discuss some ideas? "Education is not preparation for life; education is life itself." -John Dewy

[@ImAChristianFirst]

Our government is inflated in every way just like the cost of education.

[@anythgofnthg154]

Noah Beach the answer is more democracy, not less.

[@ImAChristianFirst]

anythgofnthg The answer is Jesus.

[@hakusansaku8800]

Well he is an enterpreneur so he should know the advantages of hiring people with such a huge debt. They cannot get rid of it and have to pay horrendous interest rates. So: 1. they have to work no matter what, irrespective of the working conditions 2. so they have to take any job which is being available, irrespective of their degree 3. any form of protest is forbidden as they could be replaced tommorow the companies more or less own these people, these are the ideal employees think about it. It is much easier to control a person with such a debt in comparison with someone who has no debt at all. and with 1 Trillion dollar of total debt, this is a perfect result from people who planned the whole thing. Maybe he should talk more about the economic advantages of the student debt.

[@trooper8464]

I agree with you it's the next best thing aside from Automation as it creates the perfect employee one that due to the heavy burden of debt on their shoulders doesn't complain as much. Companies love this as it creates a pool of people willing to take up anything and not negotiate hence having employee leverage power stripped away.

[@Frenchyk]

💯

[@joshn2342323]

No, not true. People with more financial pressures are most likely to steal and commit financial crimes because they feel more pressure to need the money to pay their bills.

[@tieman3790]

You forget that people with debt and that are struggling to get by on average have a 14 IQ reduction in what they'd normally have. So you have employees that are less rational.

[@Narrowgaugefilms]

When I showed up at orientation for my undergraduate degree, the professor up front said if we came there to learn a career, we had the wrong attitude. We were really there to "broaden our horizons". This is a wealthy person's idea of college: to learn the Classics so one may be witty at afternoon tea. I was a middle class kid from working, middle class parents. Learning to be employable was basically a matter of survival.

[@turtlesage364]

I work in IT that doesn't even require college degree making $75,000 a year.

[@sumitmunshi3841]

Solid path, i remember being amazed by a pos packard-bell as a 4 year old the way kids are today with tablets&smartphones.. it's here to stay for a loooong time lol, might as well make something out of it

[@MsClaudiaDuran]

This guy is on point. Finally, someone suggest applicable solutions instead of just shouting at the wind.

[@jesusbalderas329]

Claudia Duran Wind mills get all the wind 🤑.

[@shortsinportugal7963]

Thank you for suggesting the cost of education should be relative to the earning potential of the degree. I never understood why my art classes were the same price as higher math classes where those students were much more likely to get a job immediately out of college with a good starting salary. The lender should consider the paying potential of the degree they are lending towards. They don't give a shit though because now they have a whole generation of debt slaves who will owe them money forever because they refuse to pardon student debt. Why would they?? Young debtors are as valuable to them as young smokers to the tobacco industry.

[@gtarman8d]

Not all degrees are taken due to earning potential. In the event they are, the degree that people receive may not be reflective of their position. I have a co-worker who got his undergrad in philosophy and german. Another received her PhD in law. I received mine in business and we are all IT Analysts. Your path takes you to your position, not your degree.

[@cruciferousvegetable]

Shortsin Portugal Take is a step further. If this guys suggestions were implimented, there would be no art programs. They would disappear altogether.

[@Necr0Fenix]

just because u have a degree in a field does not mean u will work in said field. many people wont work on what they studied, sometimes a bit diferent, sometimes totally unrealated fields.

[@ashleyashleym2969]

Well really your art classes should cost more than a math class as teaching math doesnt involve a lot of expensive supplies but teaching art does. And thus art classes should die off. They shouldn't exist, if anything they should be looked at as a luxurious product.

[@ItsNotAllRainbows_and_Unicorns]

@@gtarman8d What was your roadmap to becoming an IT Analyst? Certs? I can't get a straight answer online.

[@RepuBlicOfChaD]

I don't have a college degree but, I have six figure income and no debt with multiple retirement accounts.

[@barbaraleavitt5324]

can you marry me..i am an artist

[@endoftheworld6293]

@@barbaraleavitt5324 depends how you look like

[@Knuckafresh111]

Although I agree with a lot of the points this guy makes, ultimately the person most responsible for making sure you have a good skill set is... you. I think a lot of students don't grasp how competitive the world has become, and how quickly the forces of globalization and automation are driving down labor prices. I do think a large part of the problem is that simply too many people are going to college, and a lot of people who are going to college aren't getting good degrees or learning valuable skills while in college. Employers can afford to be picky right now, so I think more young people need to become employers. If we want more jobs, we need to make them. Its not up to some one else, but ourselves. if we create new businesses, especially ones that require little to no capital, than you can free yourself from the rat race. We have the internet and countless tools that make a low budget business possible. The more employers that are competing for employees, the better things get for people looking for jobs. It also drives down prices and/or improves the quality of serves. A business friendly government that doesn't reward companies for offshoring jobs would be helpful, but even with the bureaucracy, businesses can and must thrive.

[@Trypticality]

Makes sense, just take out a small business loan to get started...

[@thelisting]

A better way; I have helped several grandchildren by buying them a mild fixer upper when they start College. They rent it at a fixed rate, usually enough to cover the mortgage , When they graduate, we sell the house and split the profit 50/50. Usually enough to pay their student loans.

[@Zachery_]

Dave McKee that’s nice of you, but what percentage of people are able to do this?

[@tamarasstudentloandebtchan5242]

In high school, especially during senior year, all you hear about is going on to college. Yet they don't talk about how to avoid accumulating thousands of dollars in Student Loans. Sometimes I believe the college system is a scam. A person will finish college and end up with so much money in debt, yet can't even get a Job right away with their degree.

[@clangvictiongaming1883]

"if you keep doing what others tell you do, you will get screwed eventually" my favorite anonymous quote that fits this situation perfectly.

[@user-ic5sy6uc3r]

2016?? sheesh this still applies today

[@kwakubomani]

At the end of the day the system itself is rigged. However, it's hard to change the system because many of us are tied to it. We have families, bills, and so forth. Catherine Austin Fitts covers this very well. Ultimately, the problem is bigger than supply and demand (many of the problems we face come on two legs). We have cultural, moral, and ethical issues that have resulted in past/current generations exploiting future generations (and vice versa). In today's world you have to be a DIY person. You have to take ownership of your education, food, and so forth. Education goes well beyond getting a job. You have to take back your life by divesting in the crap that companies/government market to you on a daily basis (e.g. education). Again, this is hard to do for some because it means you have to downsize (your ego in particular). Downsizing doesn't not mean you become a hobo. It means you simply quit supporting things and people that don't support you. This requires a radical change in thought and behavior. I hope the tone of this post does not offend anyone. I've worked in education (i.e. for profit and not for profit) for 10 years and it's something I'm passionate about. We should focus more on instilling confidence, self-worth, pride, love, and empathy in our kids so they can't be exploited/manipulated so easily.

[@danip6494]

Well said. You made a great point about downsizing the ego and living on less. I feel like sometimes we care more about the label of the school than the education itself. We need to be less arrogant and more practical.

[@ryanjohnson6072]

If I knew then what I know now. I wouldn't go to college. You can learn trades by reading a book and getting an apprenticeship. I predict 90% of colleges will go out of business by 2050 and almost all college loans will not be paid. Sad fact.

[@directorbeau]

Your predictions will be wrong as long as businesses still require a college degree for most positions.

[@enocontridelies9414]

@@directorbeau hahahahah what are we in 1960s jeez, get with the damn times. He is right

[@EmilyReese]

You definitely gave me some food for thought. Well done!

[@matthewwatson5273]

don't go to college instead have an aprenticeship or go to a trade school college dosen't garrantee you a job anymore

[@redarrowhead2]

Elevator Technicians on average make over 80k a year. When you take into account pensions, firefighters easily make that range or more as well. Heavy machinery technicians, such as those who can repair Caterpillars, can make 6 figures. There are many esoteric technology positions where you can make great money, such as network (e.x. Cisco) certifications and make over 90k w/o a college degree. There are esoteric programming languages like SAS where you can make 6 figures easily contract to contract. The problem with all these positions is that they are all hard to think of or get into.

[@Pgeorgiex]

Your spelling is atrocious, allow me to correct you: Don't go to college. Instead, have an apprenticeship or go to a trade school. College doesn't guarantee you a job anymore.* Public school taught me how spell and use punctuation. That was free, take advantage of it.

[@Zachery_]

College degrees are still required for certain jobs, if nobody went to college we wouldn’t have any teachers or doctors

[@ImprovementisGrowth]

Or created your own job and have people work for you!?

[@alexanderrodriguez8420]

G Embry lmaoo

[@WisdomInExperience]

Americans should travel abroad (India) to get their degrees. Its so much cheaper that way and u can see a new country. My fees while doing my Engineering degree per year was only 100$ for tuition and 100$ for hostel. I graduated and worked for the best Engineering companies around the world including India, Japan, Europe and USA. I feel bad for my American brothers and sisters who are brainwashed into thinking that only American institutes can impart education. I always get surprised to hear that American go to college to experience college life. I went to college to get my degree and get out and make money.

[@yoleeisbored]

lol. thats why indians have highest median household income.. (not being mean but indians are hard workers)

[@itslash8493]

*forgive student loans. You should pay for my bad choices*

[@alexruan5639]

With most information digitized, the question comes. Why do we still need college when IT makes it obsolete? Are we just there for the paper to qualify you? Id rather a person with a track record than a qualification.

[@Myrslokstok]

True - most education is your own resposible and a kind off factory. If you took away the diploma 99% would not go there.

[@alexruan5639]

Myrslokstok people would rather party than be educated.

[@sarrahconley3923]

+Alex Ruan I switched my degree to computer science. I'm considered more as a tech worker than an actual geek with a passion for it. I still see the benefit though because I'm utilizing it with my work experience.

[@alexruan5639]

Sarrah Conley Nothing wrong with going to school to LEARN. Its just i have a problem when people say they're going to school to get a job. Somewhere along the line, the generations misconstrued the ideology of higher education. Academia still spreads the apparition that without their standardized education, you're likely to fail. It is not to disprove the benefits that academia provides like networking opportunities you would otherwise have to create on your own.

[@sarrahconley3923]

Yes and I agree lol

[@thatsmysherman]

So here's my thing, I dont want loan forgiveness (bailout) or any income based repayment. I would like to pay back what I took out plus a little bit on top. I understand that these business have to make money. But taking out $44,000 bucks and then having it equal to $140,000+ after you get done making the minimum payments of 500+ 186 months. The government lets these greedy businesses get away with it and the American people are the ones who suffer. I'll probably will die with these loans under my name. "Well guy you should have saved up money and read the fine print". Well its kinda tough to do when you're pressured by family and friends of the family (along with society) to get a college degree to make something of yourself.

[@drop_messages6226]

I came from a blue collar background, one of the few on my fmaily who went to college. I still had that mindset of "its the degree that gets you the job". I left college early because I realized I was out of my depth, not just financially but understanding the world of the elite. College is not mean for average people, college is meant for upper class people who can afford to not work for most of 4 years, get a degree in whatever they fancy and then get a job because the knew someone or through their family. It matters not that you worked full time while getting your business or accounting degree. What does matter when graduating from University, is the prestige of the University, the prestige of your connections and possibly the prestige of your family. Yes, there are people with liberal arts degrees getting high paying jobs, that is thanks to nepotism. But, average people are not suppose to know that, otherwise they might stop putting themselves into debt.

[@rayva1]

Beware of recruiting employers too. They promise you a good competitive salary, excellent training and support and then after a few months they lay you off from your job and you're back into the filing unemployment/seeking employment pool and also back to where you began with your student loan debts. This is what I would do. Leave your country, seek employment overseas and take your knowledge and skills with you. Next thing the USA will find right after the Student Loan Debt Crisis is the Brain Drain Crisis. This goes to show how well we do as a nation. My advantage? I speak more than one language.

[@southsideshenanigans]

Young people. Figure out what you want to do in life and go for it. Never stop educating yourself. That doesn't mean spending a shit ton of money on bullshit classes and crushing beers on the weekends at campus parties. That isn't higher education. You don't have to spend a lot of money to do that. Learn a trade or skill that you can take with you anywhere. You may never be a rich man/woman but you will never go hungry. Use the technology to your advantage. You can learn almost anything on KZbin. Stop posting pictures of your tits and ass or that fuckin stupid duck face all over the internet. Have respect for yourself. American dream is alive and well, i believe people are starting to go about achieving it in much different way than they used to. Whether you wear a suit to work, or jeans and boots, each person is very valuable. Have respect for any person that works hard and has a passion for what they do.

[@laurens.2503]

Employers stop hiring college children. That will bring the cost of tuition down. Train someone instead.

[@FernandoDiaque]

Couldnt agree more, I have a 14 year old that I am encouraging NOT to go to College. I regret wasting so many years myself in school, me and millions could have accomplished sooo much more by forgoing 4 years of "class".... You can learn pretty much anything today on youtube for FREE! Only degrees semi-worth the cost is Doctors & engineers, but not even, I live close to Lockheed Martin and I have met countless unemployed "engineers" that say the competition is so stiff that you wont make 6 figures until after 15-20yrs. I know handymen that make 6 figures, no degree required.

[@miketracy9256]

When will we learn that Ronald Reagan was right when he told us government is not the solution to our problems, government is the problem.

[@franciscorosa760]

American Dream, now, is more like American nightmare.

[@LawrenceSixSix]

As a US college student I am so angry/frustrated about the sheer LACK of legitimate salaried positions and the ridiculous leverage employers have over college students, this has got to END. I didn't go through all this hard work, effort only to be underemployed and devalued by employers turned vultures by opportunity. My degree is in an indispensable business field, I didn't make a mistake.

[@LawrenceSixSix]

+Dusty Wunderlich 2nd overlooked US jobs aspect is in 2016, you need to KNOW 3+ solid connections in a big company to EVER land an *ENTRY LEVEL* position there. *Job fairs DO NOT equal jobs*, they'll give you a few business cards, tell you to apply online, and you never hear anything from them again. Even professionally emailing from business cards tossed out yields very few responses. Taking down names on an ipad etc is a farce of 0 results. Even when your resume and interview skills are solid its near impossible, and experts are always quick to blame the victim ignoring any other problems leading to the current 2016 situation.

[@dattape2828]

grow up & take some responsibility. if you think you are smart, go start up your own business. dont say you dont have capital cause that's BS. poor 3rd world countries succeed on micro loans.

[@Luis-zx3ls]

Ski Fall poor 3rd world countries dont have hundreds of laws that take fees & huge tax cuts. Think about how much the average U.S. citicen makes & aside from rent itself how much they pay in car insurence home insurence health insurence utility bill phone bill food. With a business you also need insurences it's not easy for most americans to start a business its easier for 3rd world country citizens to start one if you visit mexico 50% of mexicans live from selling some kind of product and they handle their own markets theirs little government regulations involved.

[@ZetterStudios]

Most people don't want to go to college, but feel they must because the wages for normal jobs have become too low to support a decent way of life. If normal jobs paid enough to support a family people wouldn't enroll as much. California had a functionally free college system for 30 years and we didn't have the flood of graduates until the late 90s.

[@Ben-fg9wy]

By normal jobs, do you mean jobs that require a degree or jobs that don't require a degree?

[@HELLOPATTAYA]

now you need to be a doctor to align box of chili at Walmart. :)

[@pranksterguy1]

So here I am with my Masters in 12th Century Norwegian Literature and I'm repeating over and over "Did 'ya wanna supersize that"? Life isn't fair!

[@pnguyen45]

This guy ran a company that literally scammed people and had to file for chapter 11 bankruptcy a year after this talk.

[@nanyummyify]

Wait what lol?

[@bradsmithy4380]

The government should force colleges to buy unemployment insurance for their students, based on degree. This will introduce risk for the colleges when their degrees don't perform. Also, risk based pricing is an amazing idea. Why does everything cost the same??

[@joej891]

Why become college students when there are so much knowledges on KZbin? If attending 12 years hasn't taught you how to educate yourself, how could 4 years colleges?

[@7318ify]

One of the best Ted talks I have watched! Its crazy however that we have gotten to a point where this needs to be said.

[@garybsg]

DON'T BLAME COLLEGES, THEY HAVE PROFESSORS ON SABBATICAL AND ARMIES OF ADMINISTRATORS TO FEED

[@Ben-fg9wy]

Colleges are to blame. They are increasing their expenses to compete with other colleges that are doing the same, which needs more expensive tuition.

[@lylecosmopolite]

One simple overriding fact: student loans cannot be discharged via bankruptcy. Offsetting this is that the law and a harsh Dept. of Education cannot squeeze blood from a turnip. They cannot force borrowers to cough up money they simply don't have. This video does not say enough about student loan reductions, forgiveness, and repayment moratoria. The main drawback of being unable to repay your student loans is that you may not qualify for a mortgage or new consumer credit. I doubt your existing credit cards will be cancelled, as long as you pay the minimum required every month. If you live in an urban area, it is possible to do a college degree part time over 8 years in a public university,, while working 30-40 hours a week. If you are single, live with your parents. If you are married, your spouse should work full time while you study. The upshot should be a college degree without taking out student loans. The total tuition cost of a 4 year public university degree nowadays runs about 30-35K. Anybody with a student loan balance in excess of, say, 50K has made a serious mistake, such as: * Failing a lot of courses along the way; * Attending a private university without a scholarship; * Doing a second degree after discovering that the first degree was worthless; * not attending a community college for the first two years (they are way cheaper that public unis).

[@lylecosmopolite]

@Dennis Yen You forget that student loan debt cannot be discharged via bankruptcy, and what you owe but don't pay accrues to the loan balance. You are expected to take the hint and sell your assets that have done well, including your house in a good neighbourhood, your portfolio of hedge fund shares, and so on.

[@lylecosmopolite]

@Dennis Yen If the Great Reset is God, then I'm an atheist...

[@SugaryPhoenixxx]

I am so glad I didn't go to college. I always had a pit in my stomach every time my family members asked me if I had any plans for college.

[@jayceewilliams5250]

I think colleges need to get rid of gen ed requirements if you know your field you should only have to do your major requirements but they want that money out of you

[@matthewkopp2391]

It took three court cases to get my brother Social security disability. When he almost died in the hospital they courts accepted his claim. Then we sent in the loan forgiveness forms for total disability he was continually rejected. He died with student debt. Even the standards of "undue hardship" and "total and permanent disability" are completely meaningless in regards to this current system. The question I have: who makes money if loans remain unpaid? Likely the loan collectors who have incentive to keep the loan on the books. I wonder how many people die and the Loans are still on the books.

[@ChildSupportMadeSimple]

The student loan debt is not the only crisis. When you add child support payments on top then problem is worst. With both programs you cannot discharge in bankruptcy. Why is the government imposing this restriction on our future population? Congress could change both programs within one session.

[@maryrenaud6732]

It is a shame that a high percentage of college students believe it is the credential itself that qualifies you for a great job. In fact, it is the ability to think on your feet, analyze and present data, research ideas, work effectively in teams, communicate clearly both verbally or in writing, and the proven ability to succeed in a variety of roles. Having taught as an adjunct at a state college, I noticed a number of recent high school grads tended to blow off classes. Many of them never did the reading, wrote very poorly on essays, and could barely function on the internet. I asked students why they were in college, the nearly universal response: to get a good job.....not to learn, not to improve my skills, not to broaden my understanding of the world past, present or future, and not to figure out my own best path. So, not everyone should be in college, particularly directly from high school. Young people should have a universal one year gap before college and should work, volunteer, intern, or travel, before making drastic and costly decisions about their futures.

[@NEMO-NEMO]

Wait till AI steps into the picture !!

[@MisterTutor2010]

Occupation: Postdoctoral Fellow in Cancer Research Salary: $47,800 per year May 2016 Balance: $51,000 October 2019 Balance: $9,720 Earliest Zero Balance Date: July 1, 2020

[@jbeachboy100]

can they get rid of worthless majors or only have them as minors!

[@CaliforniaArchitect]

Consider learning skills outside of college. If you do go to college, don't major in something useless. Get your money's worth. But don't blame colleges and lenders for your bad decisions; they're not going to do the research for you.

[@joelangley4665]

"Colleges and Universities should take responsibility for the product and services they sell." Awesome line. "Educational Shaming" another awesome point.

[@derrellprice9721]

Both parents dead by my eleventh year, graduated from Miss. State debt free at 24, put my daughter through Chapel Hill with no debt. One lesson I learned is choice = consequence. Now I am 79 years old living a full life debt free.

[@jfalbo]

Wa Wah people didn't research what their degree would pay. Now they have debt and they can't make enough to pay it back. They are not the victim! They caused the problem by not doing proper research. I lost money in the tech bubble, is anyone going to reimburse me? I paid back my student loans, is anybody going to reimburse me?

[@shamanoftruth3414]

Thank you for this

[@ChinaConsultingTravelBlog]

The problem are the people. Way too many of them are in college. Not everyone can be a doctor, lawyer or architect. The rest of the population has to fill in all the other jobs that don't pay a fortune. Id cut admission to 10% of what it is now. Graduates would be in high demand. It use to be valuable. Now it's as common as a Facebook or Twitter account. The fault falls on two people. The students who sign up for these loans, and in turn their parents. If you can't figure out student loans and understand what will happen after, don't do it.

[@theicyridge]

What a crock of crap. 1) When higher education was largely liberal arts colleges, its purpose was to support a free-thinking, free-expressing democratic society, and the number one goal of students polled as personal growth, it was virtually free. Student debt ballooned after huge tax cuts. Not everywhere, of course. Many countries continue to have free, or close to it, education for trades, arts, sciences, social sciences, etc. 2) This "economist" quickly mentions that income for college graduates hasn't gone up since the 70's. Indeed, he should mention real wages have been flat in America since 1973 (!), though productivity and profits have gone way up. And indeed, many educated young people make considerably less than uneducated people used to. He might want to assess how wages didn't go up but student debt skyrocketed--again, specifically in America--before turning even more over to the market and dismissing democratic engagement with a government with nothing besides a smirk and laugh. 3) What a great idea about floating debt! Let's take the subjects that are vital to a democracy--history, philosophy, art, anthropology, etc.--and make them only accessible to the very, very rich! It's bad enough that already 70% of Harvard graduates apply to Wall Street and consulting firms; he would have democratic subjects entirely eliminated from the system because, for reasons left unexplained, "there's nothing wrong with that." Of course he doesn't mention democracy or culture at any point in this speech. Clearly, this remarkably narrow made-up mind is sincerely lacking in said education. His "creative solutions" can't even offer what was taken for granted in the 50's, and still is taken for granted in most developed countries. 4) Speaking of which, we should probably ask why countries Germany are able to have not merely tuition free art education, which is so criticized here, but an astoundingly vibrant cultural sector with enormous work forces making good livings, while maintaining a vastly superior economy to America's. 5) I give him credit for recognizing that, with over a trillion dollars of debt, there is indeed a crisis. I'm glad his education thus far has made him able to notice such things. 6) His one actual good point--and there is only one in this entire speech--is that employers with jobs that don't require university degrees should behave like it. Of course that's not remotely to say that if one gets a degree they should have a harder time finding job. If the degree is in crocheting, it still wouldn't make the high school diploma that came before it any less of a thing that exists.

[@anythgofnthg154]

All you say is so true. For the past 40 years, Americans have been conditioned to hate democracy.

[@frostscience5470]

WRONG! Dusty nails this AS LONG AS you view college education strictly from a capitalist perspective. His argument presupposes that the purpose for education is to make money. This idea that school readies students for the work force (a.k.a. schools = factories) is outdated and not humanistic. (By the way, I hold a M.S. and my wife is a doctor and we are straddled with student debt and pissed about it.) The problem is REAL but Dusty's solutions attack the wrong problem. Many modern successful countries value education for the sake of education and offer free college education to all citizens. Dusty's solution #1 "floating interest rates" means rates are not fixed... it will cost MORE, making education more expensive and keeping the lower and even middle socioeconomic groups from being able to afford it. There goes the ladder to self improvement. His approach does address the symptoms but does not further the upward mobility of all. Let's value education and keep it divorced from the all too important economy. The REAL SOLUTION is to reduce the cost to attend public Universities (ideally to zero). Allow anyone who can maintain good grades to attend for free, knowing that only the best performers will obtain the best paying jobs. ADDITIONALLY, we need to start teaching our youth to value the lower paying skills. Carpenter, cab drivers, food employees are important and necessary and should be respected and paid better. We would end up with better performance in those jobs. Dusty is a typical business trained capitalist economist who sees the whole world through the profit/loss lens. (By the way, I have a B.S. in business and I KNOW how business leaders have been taught to think... only Mr. Profit is important.)

[@raphaelsonney5316]

finally someone who gets it!

[@ashleyashleym2969]

School is for workforce. To obtain knowledge you do not need school. Your model is outdated. In today's modern world the only thing schools offer of value is preparation for the workforce and so some degrees are 100% worthless, even if you're very wealthy and can afford it easily. You get better knowledge from self educating through reading books, watching documentaries, keeping up with science news and such, not sitting in a class room and being instructed.

[@MichiganUSASingaporeSEAsia]

Here is on great solution..require all universities to guarantee the student a job in their profession within a year after graduating otherwise provide more schooling for free or a full refund..This will hold the higher learning institutions accountable and in check.

[@bosedohne5209]

I'm watching this as a German who has a student loan debt of 7000 €,which is the highest of all my friends. I'm shocked at how horrible the American system is. 😱😳

[@Melker63]

It's not at "government-problem". "The government is the problem" was a propaganda-slogan only meant for the ordinary citizens. For Big Capital the Government was instead the solution. Thats why it's been highjacked by them. It's a society moral greed-problem in general. In the very fabric of American culture - spearheaded by big capital short-term interests (the fish rottens from the head and downwards). As long as problems/solutions are presented as technical instead of moral/cultural, the solution is no where in sight.

[@Paintball1212]

Student debt won't cripple the "American dream" it will only cripple your American dream. Work 2 or 3 jobs it's not that hard. I know, you don't wanna work on the weekends because you rather drink and party but that's your choice. You're choosing to be in debt and complaining about it. Man up and pay it off like I am doing. Live on less than what you make or just go listen to Dave Ramsey ;)

[@JohnTKennedy3]

Dude, How about just removing loan guarantees? Then 1) lenders will have massive incentive to loan only to those who will be able to repay, 2) fewer will go to college, 3) prices will drop because schools will be competing for fewer students, 4) the value of degrees will rise 5) far fewer will be encumbered with massive debt 6) taxpayers will not have to pay for other people's education.

[@JohnDoe-wz4cc]

Ted Talks have no value when EVERYONE does them now, lol

[@Bradimoose]

I never understood why every loan must be approved by an underwriter, except these huge student loans. I can't take out a car loan and buy a range rover, but in my mid 30s I could take out 120k for a second bachelors degree in anything I want without proving I can pay it back like I'd have to for a Range rover.

[@ct2726]

And let's not forget AI and the robots that are going to take over 25 - 50% of jobs soon . If you're lucky to have a good paying job , save as much as you can while it lasts . Check rich poor dad info on assets and liabilities .We got to rethink everything ...

[@renegonzales3208]

I agree with Raphael Eze. Let the student learn. Isn't that what everyone is taught at early age. Parents have to put children in school, if they don't go to school parents can get in trouble.Children go to school starting at 3 and 4 years old till 18 years old. then you are told to go to college. Big change. A lot of money involved. some parents can't afford it, so their children don't go. Even though the have a child that really likes to have an education. Sure you can get fasa. but that's not enough. That's were the debt comes in for the parent. Because a parent is going to do whatever they have to do to see their child succeed. And that is what the colleges know. That's it!

[@chrisr3120]

Large companies pushed the idea that everyone should go to college and everyone should learn to code. Any time large companies throw their money behind something, be skeptical, because odds are its self serving. The more people who go to college the higher tuition costs rise and the lower skilled labor wages fall. It's all supply and demand, more people go to college, college costs more, more people have degrees, degrees lose their value. Who benefits? The companies who now get to pay less for skilled labor. Who misses out? The students who now have to work twice as hard under perpetual debt. Now what are large companies throwing their money at? Lobbying for how to deal with the debt crisis they created by inflating the cost of college in the first place, and what is their solution? To basically make college tax payer funded, that way everyone goes to college and they get to pay even less for skilled work. Ultimately they might make a college degree as worthless as a high school diploma.

[@jamesbeihl5795]

Lol this guy is imploring employers to stop creating demand with supply but your appealing to their good nature. A fools errand. The only way employers will do such a thing is if they are compelled or incentives financially to do so.

[@Ben-fg9wy]

you're* fool's* Employers won't do it until they realize that employees with college degrees don't matter for their company.

[@isorozco511]

I didnt go to college, while many of my friends did. I dont make the most but im not poor either. However i have debt free peace of mind and im glad i understand that many jobs don’t require a degree. College debt wouldn’t be nearly as bad if it werent for the interest rates.

[@clayryan1196]

This is SOOOO right on!!!!! Great video.

[@slashmaster2]

A lot of the blame is women's fault. Women who say they won't go out with a guy who doesn't have a bachelor's degree or master's degree! So guys try to obtain that instead of something that makes more economic sense!

[@magamike1800]

65% of kids go too college in America. probably double the number required. tertiary education should be done almost for free via online education. its all screwed up.

[@chrisgast]

Government well-intended??? LOL Don't kid yourself.

[@thomasjbraun1]

If you would have listened to econ teacher in high school you would have known this

[@barbaraleavitt5324]

hello I have loans over 12k I am 70 yrs old. I cannot pay anything to settle the debt. I wonder if they can take my 300$ per mth ss.

[@giantsalsa3977]

This came out in 2016. What has changed? Did anyone listen?

[@ellenlee1]

YOU HAVE PAY YOUR DUES TO BE SUCCESSFUL. IT'S NOT GOING TO COME TO YOU FOR FREE. NOTHING IS EASY OR YOU WOULD GIVE AFFIRMATION ACTION TO EVERYONE AND NO ONE.

[@joelmpott]

This sounds like someone who didn't research their degree before they enrolled.

[@pedrosmyth8366]

The issue is one of the cost of an education and not the value of one; we are a better country with college educated populace. There is more to a college education than just job training. One needs to question the credibility of the presenter, too. What are his true motives? He is the founder & CEO of a company that offers loans and leases (yes, leases) at above market interest rates to consumers buying dogs & cats from local pet stores. Google WAGS and Bristlecone Holdings. His company, like the colleges he criticizes, encourage people to buy things they can't afford at userious interest rates.

[@immortalsofar5314]

"I believe that all economic bubbles typically start with good intentions in the government". That's a sweeping statement and one that requires a single instance to disprove - he might want to re-evaluate this before I give it a couple of seconds thought. Similarly, he's not talking about meritocracy for all his words - think about Trump's position in a society that was functioning "efficiently".

[@seanm9483]

Watch coronavirus burst that loan bubble. Lol

[@karldilkington8587]

I think employers are actually better off training their employees in-house. The most important character traits that an employee can have are behavioral traits like responsibility, ability to learn, and team skills. If you don't limit your search to people who have those AND a degree, you broaden the pool a lot. My second job I ever had was a small business, and the owner would often invest in the employees to help get them certified to advance in the company. It was a win-win for the employee and employer.

[@geraldbrown7718]

Problem is all the good jobs have gone elsewhere. Only jobs left, you have to have a degree for. If not, wal mart and McDonald's is all that's left. Yes, people want those degree jobs, because you can live on those other wages. If the production ( middle class ) jobs were to return, not so many people would be going to college.

[@TexasMade903]

I recommend joining the military or at least do one enlistment so you can qualify 100% for the Post 9/11 GI Bill. I have a BS Degree and working on my second with no student loan debt. Most of it was paid for with tuition assistance, pell grant, and GI Bill. Also, some colleges and universities will give veterans credit for military training. I think the military and trade school is a better alternative.

[@pianotinkerer]

Hey, uh, how about we stop shaming people for studying the arts and humanities and just make the debt less suffocating? It's not like STEM degrees are really any more helpful, and do you REALLY care whether or not someone studied Plato instead of engineering?

[@barbaraleavitt5324]

Plato said coming out of the cave the eyes are not accommodated so vision is affected...or effected

[@JuanGonzalez-gg1iq]

If it’s not a STEM field its a rip off.

[@emuriddle9364]

It will. There's a reason why it's free, in other countries. Also: Don't push kids into this, when they don't even understand themselves first.

[@user-rh3pe7um8d]

This guy does not want college to be free. He descriibes himself as a Libertarian to Anarcho-Capitalist.

[@jvolstad]

Join the military. Great educational benefits.

[@user-rh3pe7um8d]

True but thats only afordable to the individual. Sustaining a large military is extremely unafordable for the country.

[@donazizi9197]

Very depressing, because its true.

[@fr812libra6]

Man I would know about this ! I have a useless BS in biology from Penn State with $70000 in debt and the only job I could be qualified for is a lab tech fill and pour test tubes all day and pay is absolutely ridiculous. I would be lucky to even get that 100+ applications and no one even responds Now I’m going back to get a graduate degree because why not bury myself deeper for a chance to just be able to feed myself because honestly it feels like that’s all one should hope for. I dreamt of having my own house, a car and to at least be able to afford one trip in my lifetime but we got played long time for that

[@nafnaf0]

2:05 amen, same thing can be said about the housing market

[@redarrowhead2]

Watching this on a 4k screen laptop after college #FeelsGoodMan

[@viziotvremote6415]

Laptop specs?

[@illegalalien6542]

Nunya

[@jordh24able]

Moral of the story. Don't get an arts degree

[@gregwarner3753]

Student debt is terrible for the economy. Military debt is good for the economy. Please explain.

[@user-rh3pe7um8d]

Both are terrible. It´s that simple.

[@gregwarner3753]

@@user-rh3pe7um8d student debt is designed to keep people that work for a living in debt forever. This does two things. The first is to force people to take the wages they can get. The second is to prevent families from accumulating generational wealth. Blocking this accumulation prevents these families from ever being free of debt and living, as do the investor classes, accumulated wealth. This keeps the investors wealthy and their society exclusive. Mission Accomplished.

[@user-rh3pe7um8d]

@@gregwarner3753 Military debt is payed off by taxpayers hardly earned money to pay for foreign conflicts the US as no business interfering in. Thats why its terrible. Your point about student loans is both true and untrue. It is true that a large amount of debt limits your freedom and will effect your choices of employment. However it is not true that this is due to the conspiracy of some sort of elite but rather due to badly made individual choices. If you dont want to get burried in debt dont take on loans and then get a degree that will not open up any well paying employment opportunities. The mayor flaw of that theory is that there is no limited amount of wealth that at some point will be used up. Hence the upper class has no interest in keeping other people from reaching the top. Thats also why so few millionaires actually gain their wealth from inherritance. People like Jeff Bezos or Elon Musk come from a middle class background. They are the proof you can make it without anyone holding you back.

[@jamesbeihl5795]

No mention of tuition free public college?

[@jayceewilliams5250]

Choose your major carefully don't major in liberal arts and theater and then have to work retail to pay it off. Have a back up plan

[@MyGamerforlife]

That settles it. Not going to college. Just not worth it for me anymore.

[@PlayNice123]

Shane Boatright Smart choice, I've learned more when I left college.

[@Cougarwolf]

That "shift in our culture" he is talking about is just a product of capitalism... Not saying capitalism is bad, but if you have an economy with different pay scales for different jobs, people will chase the jobs that pay more (those that require a college degree). The problem is that you can't have everyone be doctors and everyone be lawyers. Also college tuition has gone out of control and irresponsible student loans are crippling students who are never informed of how interest payments work.

[@southsideshenanigans]

About the firefighter comment in the beginning: Most large suburbs and even in some cities require you to not just be a firefighter but also be an Emt-basic or Paramedic. Essentially doing two jobs with 1 person. I would say that is a significant difference in skill set compared to former days when you went through a fire academy, and had a 60k or more salary lined up afterwards. Also firefighters are exposed to different hazards now than in former days, like terrorism and new construction synthetic materials that burn hotter and faster than the old stuff. Today's firefighter needs to be educated on these things. Firefighter is just one example of a job changing or evolving. School is never ending now for most careers. However, this guy makes some great points. Universities are like a business and they don't care if the student succeeds or not. The loans are back by the federal government. How much money can we get out of each student, that's the bottom line.

[@Ben-fg9wy]

Firefighters are exposed to terrorism? Explain how that makes sense.

[@JK20239]

Ben 911?

[@Appollochan]

I think there's more benefit to higher education than just getting a job. Becoming a better person, meeting like minded folk, learning advanced topics, being able to discuss said topics and having access to resources are all benefits of going to university. That said I wouldn't go into debt for it. Get an entry level job after highschool save up a lot of money, think about what you really want to do with your life , then if you still want to go to uni you'll be able to pay upfront. We have about 45 years of working life sometimes more, I don't get the rush to go to uni straight out of highschool.

[@Ben-fg9wy]

Colleges don't make you a better person, a like-minded folk or learn relevant advanced topics. Also, what does uni mean?

[@TheWileycyote95]

Ben University, bonehead

[@dogfight156]

this guy is awesome. thx for the vid!

[@prisoneroftech2237]

This was good.