Manage student loan debt

Business and economics correspondent Rebecca Jarvis speaks to Chris Wragge about some tips to manage massive debt from student loans.

Category:

News & Politics

Tags:

• cbsepisode
• the
• early
• show
• student
• loan
• debt
• money
• manage
• college
• university
• cbs

[boballende]

@boballende

I suspect that these large news conglomerates were told to censor the fact that some student loans require students to pay $800 a month; that loans triple with interest; that a student cannot wipe out their debt even if with a bankruptcy; that some loans are for 20 or 30 years; that if you miss payments, you will be ineligible for additional federal student aid; that payments can be garnished from your paycheck; that tax refunds can be withheld and applied toward student loan debt.

[boballende]

I've been researching the subject & I can't find any good YouTube video from any large news conglomerate like ABC, CBS, NBC, FOX, or CNN really discussing the trillion dollar student loan crisis. They all skirt around the issue by bringing in these so-call money experts who give a typical pro-American White Anglo-Saxon Protestant answer about shopping around for the best student loan deals.

[MrKleid]

these fucking cocksucking thieves should be shot..bankers are a lot lower than pimps..they come from thieves and whores

[JogBird]

THIRTY YEARS ... LMAO.. hope that Harvard music history degree was worth a lifelong debt

[3333333921]

$50,000 a month, wtf

[EricStern012]

Rebecca,

It seems like you mean well and I am glad that you are having this discussion, but you are clearly failing to understand a few important things about the nature of many students' debt burden today. Many students are graduating with over $100,000 in student loan debt, with payments of over $1,000 per month.

[EricStern012]

Pay down your debt before your graduate college? Are you serious?!?! In what world do you expect this to happen? If you can make enough to pay down your student loans (while paying for food and housing), then you don't need the loans if the first place! It is insulting to nonchalantly suggest that a student should start paying their debt down while in school. This is like telling someone who is drowning in a pool that if they would simply breathe air, then they would be able to save themselves.

[EricStern012]

The tax write-off for student loans is a joke. The maximum write off is $2,500 per year in interest. I and many other students pay $2,500 in interest by March. So from April through December that write-off is useless. Furthermore, if you are fortunate enough to make over $60,000 per year then your deduction is decreased through a phase out rule.

[TheMango121]

Manage student loan debt?

How about we stop government backed loans so people can actually afford it?

[lotuschuki]

This is great help!! thank you .. I wish there are more video on this.. .. I did lot of research on student loan before i start accepting my financial aid package from FAFSA via my university. This video really helps me to taking the notes on impt. points before making this huge decision on taking this loan. Yes, I think "standard payment option is best with consolidate payment way" . Thank you :)