 Alright guys, what is going on? It's Jacob here. You haven't seen me before, welcome to my channel. Today's video is going to be slightly off topic, but it is something that I do believe I've got a duty to let people know, especially younger people, people my age 25 or under, and today's video is going to be about why it's so important you really know what you're doing when you go and study and get a student loan. Student loan is a financed loan from the government, usually interest free until you reach a certain point in your working life. Once your salary reaches a certain amount, then the government will enforce repayments and that's fine, that's great. But the thing I see a lot of people doing nowadays is rushing into a university degree. University degree to me and to a lot of other people after watching things like fucking American Pie, seeing what college life is like, it's three years worth of partying. A lot of people are just picking the career path and picking the degree that they think is going to be easiest. They're going to coast through, they're going to get a degree and hopefully, hopefully use it in their career and in their job. Well I see all too many people either changing their degree halfway through, staying at uni for five years, not three. They either completely go off the subject that they're studying and don't use their degree whatsoever or they drop out and also don't use their degree. And the one thing that stays constant at the end of all of these situations is the fact that you're still stuck with the student loan debt. And some of you may say well that's fine because if everything does go to shit I can bankrupt it. Well the main message I'm here to tell you guys today is the fact that it's not so easy to bankrupt student loan debt than you think. To say you're getting a bit, the reason, the reason bankruptcy is there is to bail people out. The government's way of saying take risks, start a business, get credit cards. At the end of the day if everything goes to shit let's say you start a small business. You've got credit card loans, a personal loan, you might have a business loan with the bank, all of this shit that you're you know you're meant to be paying. Ninety percent of all startup small businesses go to shit in the first year. So let's say you're one of those nine of ten. Your business fails, you've got all this debt and you go to the government with a bankruptcy plea, they grant it. All of your debt is wiped except for your student loan debt. Student loan debt is not treated the same as any other debt. So the one message I want you guys to know is not well two messages. One choose your career wisely. Don't get rushed into anything. It's not the worst thing in the world to go out and get a shitty job just just to pay the bills. You may be able to save a little bit of money and just sit back and think and get into the real world and get into the workforce and think okay what what is it that I actually want to do? Is this three-year degree actually gonna get me into the place that I want to get to? You know if you're entrepreneurial at heart it's unlikely that a degree is going to help you in your dreams and goals. As far as building a business or building your name or getting famous or you know whatever you want to do. Personally my story I went to university I was always straight A at school. I ended up leaving before I finished which was you know it was probably a good decision in the end because once if you do go through school with good grades you finish high school basically it's thing to do is to go to university the next year because you get automatic entry because you've finished high school. I didn't finish high school so I actually had to wait till I was 20 to go to university so I was exposed to the workforce. I worked in the corporate environment which I thought I wanted to do. I loved wearing a suit for about a year after that it got really old. I decided to go to university when I when I turned 20 always been interested in numbers. I thought being an accountant you'd earn lots of money and I thought I'd be good at it. I got three months into my accounting degree and I thought there's absolutely no fucking way I can do this for a job there's no way and then I decided well you know if I'm not gonna be an accountant and I'm not gonna be an economist what the hell am I here for? So I ended up quitting I tried to get my old job back that didn't work. I found myself with a semester worth of student loan debt which at that time was about $10,000 I didn't have a job and if worse came to worse than I wanted to bankrupt I could not get rid of that student loan debt and I've still got it to this day so at the end of the day I didn't have a degree I've still got my student loan debt but it was the best thing I ever did leave at that point because if I had stayed for three years I would have had a $60,000 student loan I wouldn't have wanted to use my degree and all it is is a fucking line on your CV and to be honest the more interviews I had you know the more jobs I've had I start to realize that it's personality it's it's what you bring to the table as a person you know your initiative your your values is what's really really important that line on your CV isn't that important you know I think in a major city it may be important to have that there when people are you know surfing through CVs they're going to be looking for certain things but in a place like Alice Springs where I am right now it's definitely not important and so I am really really glad that I didn't follow through with that degree but with that being said guys I've probably talked too much but the major thing that I wanted to get across is the fact that you've got to be careful because student loan debt is not back not bankruptible you will be stuck with it I watch this show on you know it's in America and it's on finance and it's a guy Dave Ramsey and the amount of people that call up with with student loan debt you know a hundred thousand two hundred thousand two hundred thousand dollars of student loan debt with no way to pay it back they've got shit incomes they think that this degree is their ticket to a great job well it's not it really isn't and you've really you've got to be careful man you've got to do your thinking so like I said don't rush into it don't get forced into it university may not be for you if you if you feel like your efforts are gonna be used better in the real world rather than wasting you've got three years worth of opportunity cost which means that you're wasting which means in those three years that you're studying you could have been earning money for those three years and possibly got a promotion within those three years so at the end of the three years you're actually earning more than then if you grab your degree and try and get into the workforce so it's up to you I just wanted to let everyone know it's something I am passionate about something I've told a lot of people about and I just hate seeing people forced into things and regretting things in the end so that was my advice to you I hope you can take it on board until next time guys have a great day that was me hundred percent honest to you guys as per usual subscribe for more if not see in the next one peace