Peter Schiff on Student Loans Crisis 2008-04-17 Bloomberg

[SvenBenson]

I love how this guy who is likely a financial "professional" (host) did not have the simplest clue what peter was talking about... "What? prices go down? He must mean imposed anti-market capis!" The mindset of these people.

[MONOPOLY35]

The problem occurred when they made it impossible to cancel out student loan debt with bankruptcy. Although too many people declaring bankruptcy would cost the government billions, the people should have a way to protect themselves.

[fek2000]

There's always a silver lining...all that is necessary is for the most vulnerable among us to suffer long term.

[GhostWritersForHire]

With a Master's degree and a 3.93 GPA, I learned way more through YouTube tutorials, forums, networking, and the library. College is a crock. I should know. I ghostwrite dissertations and research papers all day long.

[TheDorkKnight1000]

Watch The JeffersonianDems New Video: Student Loans!

[PurrGrrl]

More proof that what comes around goes around. Sallie Mae/colleges got greedy & decided to suck the life out of kids trying to better themselves by getting an education. Now lots of us just can't further our education. By the time we get that money saved up we'll be in the nursing home & the govt'll be paying to keep us alive.

[anthonypesce]

indentured servitude. Use the internet. Democratize education. If you want to find out about something, look around just a little and I bet you can find it

[raygunsben]

I wouldn't say democratize, but definitely make it more affordable. The second part of your statement I agree with.

[lordblazer]

cool. meanwhile we need to get a degree XD

[KevZen2000]

Sallie Mae is corrupt and they need to fail. Private student loan companies need to fail or re-adjust there scam levels.

[lordblazer]

they're really bad, and the republicans were really keen on passing laws that made it easier for them to exploit students and harder for students to get away from such things... PAy attention. This generation needs to no, and get off that "nobama" bullshit.

[Gwenlj]

Salliemae is evil!!!!!!!!!!!!!!!

[Gwenlj]

Sallie mae is corrupt!!!!!!!!!!!!!

[SaltWaterDiatoms]

Sallie Mae are criminals ... I have bank documents proving they're liars. I caught one of their managers lying on the phone. I published those videos on my channel. Presently refusing to send forbearance forms (since October 2008 they refused to send forms!!!) They lie, divert, -- even locked me out of my account. Every trick in the book to force a default to sell my loan for a profit to collection agency. "CBS 60 Minutes Sallie Mae Default Profit"

[Kingsun44]

Its not going to be easy for the universities to downsize, since half the faculty are already contingent, part-time, adjunct faculty that get paid peanuts. Its hard to imagine what quality of education students will get if universities are forced to "downsize." What we need is more direct investment in academic programs and stop shifting the burden of paying for higher education to students through federal and private non-dischargeable in bankruptcy student loans.

[lordblazer]

maybe cut back on their football programs..

[YaneViborita]

Wow! This is coming from an economist's mouth! Peter Schiff is absolutely correct; "market discipline" for the cost of higher ed is needed. Badly. I would add that a substantial increase in grants and fellowships (NOT loans) for graduate studies especially, is highly overdue as well. Re: student loans, BASIC consumer protections need to be reinstated. As it stands today, students with fed and private stu loans are prisoners in a virtual debtors prison, without legal recourse AT ALL.

[gunderbanger00]

good video

[lordblazer]

kjhg