Refusing To Pay $80K In Student Loan Debt

12-Apr, 2021
157 338 Ko‘rishlar soni

The Debt Collective was born out of the Occupy Wall Street movement and helps people dispute debts with a goal of cancelling their loans. It currently has over 700 people pledged to never repay their student loans. Watch this video to hear from borrowers who are planning to never repay their loans and to learn what consequences they may face.
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Refusing To Pay $80K In Student Loan Debt


    Brant PhillipsBrant PhillipsSoat oldin
  • School isn't education. It's there to waste your time and give you a false sense of secuirty, no one wants to work the same job for 40 years

    InSaniTy ツInSaniTy ツ8 soat oldin
  • Has money for a nose piercing. Doesn't have money to pay back the loans SHE CHOSE to sign on for the college SHE CHOSE to attend. Watch Dave Ramsey. Be responsible. Stop being a parasite to society. I went to an expensive private art school, I went 6 figures into student loan debt, and I've paid 70% off and I'm 28. My father works a blue collar job. I don't have a trust fund. I don't own a car. I don't have kids. I'm not married. I CHOSE responsibility over entitlement.

    77xDivaOkurrr7ATSymbol77xDivaOkurrr7ATSymbol8 soat oldin
  • Maybe dont take a loan u aint planning to afford to pay in future.

    computerlearing channelcomputerlearing channel11 soat oldin
  • Don't you get free college in the USA if you do 4 years military service? You could have done this instead but nah, there you are complaining.

    U WotU Wot12 soat oldin
  • She’s right.

    AAKun oldin
  • parents, i know you want what is best for your children, but NEVER co-sign a student loan.

    xxSourWingxxxxSourWingxxKun oldin
  • There is a lot to unpack here and I want to be concise: - I understand the frustration folks have paying back their debt - we saw the Wall Street bailout in 2008 with taxpayer $$ even though the banks were taking advantage of people and giving them loans they shouldn't have been given - I also understand that many people aren't educated about personal finance in high school - there is an ever-increasing pressure to go to college (whether you can afford it or not) - College tuition is ridiculous and prices will continue to rise so long as student loans are federally backed. Money is extremely accessible so as long as people have access to an endless pool of money, prices will continue to rise However, I don't think debt forgiveness solves the root of the problem. We need to do a better job of educating people about their options after high school and about personal finance/fiscal responsibility (i.e. building credit, saving for an emergency fund, paying taxes, etc). We also need to normalize trade schools and vocation work - because not everyone should or needs to get a degree in high education for these insane prices colleges are charging. The do-nothing attitude displayed in this video isn't going to work long-term because they aren't building anything for their future - no wealth and no opportunities. I think there are viable and real solutions to solve the actual problem here. The rising debt is a problem, yes, but it's a symptom of a greater problem(s) in my opinion. Side note: I will be paying off my loans when forbearance ends. I am fortunate to work at a company that contributes $100 a month to my loans. However, I hunkered down and saved after college while my friends got expensive apartments and luxury cars. Saving is definitely possible with discipline.

    B TB TKun oldin
  • I don’t feel bad for people. She’s 30 and still hasn’t figured life out, she probably never will either. How come some people are smart enough to go to community college or the military, in order to pursue their education at reasonable to no cost? Another case of “I’m stupid, please save me from my own decisions”

    Scott RileyScott RileyKun oldin
  • Look, I know there's pressure to instantly go to college, but you choose to go, what school you go to, and what your major is. You should look at how much it will cost, and if it's a worthwhile ROI. For example, I went to a cheaper state school and got an engineering degree. I have $10k in debt and I'm okay with that. I sacrificed. I didn't go to the school I really wanted to go to. I lived in the shittier dorms. I didn't take the study abroad opportunities because they were expensive. I know not everyone wants to or is able to be an engineer, but there are a lot of different lucrative career alternatives to popular majors that make no money. Yes college is there for you to learn, but it's an investment and you should make sure you can profit off of it after you graduate. Look at the numbers, the job market, everything. YOU are the one that's having this experience and choosing to do so. No one is forcing this on you.

    Matt KlingerMatt KlingerKun oldin
  • How are you going to wait for ur money. Go work everywhere is hiring right now you’re a disappointment to your father and I

    Camilla SmithCamilla SmithKun oldin
  • This is the best example you guys can come up with? Jesus Christ...

    Axl SGAxl SG2 kun oldin
  • America, here are your standard Democrat voters who believe the lies the Dems & the Left spew, and make terrible decisions (likely were never taught by parents, sadly yes), won't accept fault, and want successful people who made good decisions to bail them out. They didn't want to work hard to pay their way, they don't want to save their own butt (now), and they won't do any of the sort at any point in the future. And we wonder why there is a such a divide politically, when half the people can't even reasonably be expected to be self-sufficient, and be personally responsible for their own rear end in life. Where is daddy government to spoon feed me with other, better people's money? From cradle to grave, no less.

    Scott CScott C2 kun oldin
  • This is why people think they want socialism. No personal responsibility and have someone else take care of and make decisions for them.

    Gregory PrevenslikGregory Prevenslik3 kun oldin
  • maybe debtors jails should be brought back. put her to work in some public service to work off her debts. i think a lot of people would gladly do some kind of service for a few years to wipe away their $80K in debt.

    JONES2JONES23 kun oldin
  • The reason for tuition fee rise is the government protection of student loan companies. Students should be allowed to wave their debt when they declare bankruptcy as people can with credit card debt. Why should student loan companies be protected but the banks should take all the risks? When I took a student loan I was not financially literate, I was not even mature enough to drink alcohol legally. So if student loan companies are not protected by the government, they would not be that eager to give a student loan for a useless degree. I mean, we have a lot of laws to protect people against themselves, like mandatory seatbelts and helmets, drinking age etc., but we don't have laws to protect financially illiterate children who are not mature enough to drink alcohol. Now loan companies are eager to give a lot of money because they are protected from student's bankruptcy so colleges can charge more and spend money on stupid things. In Europe, universities are subsidised but they are not expensive because they don't spend so much money on entertainment because they are a place for learning, not for recreation. So one change in the law would fix everything: allow people to wave their student debt when they bankrupt. Companies bankrupt all the time but the banks still loan them money because they calculate the risks so that they still earn from other companies. Student loans should not be any different and loan companies should calculate the risks. Tuitions will not be that high anymore because no one would lend you 150k for something that was 15k several years ago.

    srki22srki224 kun oldin
  • With the current rate of inflation. 40k is going to seem like nothing for a large investment.

    Jimmy JohnJimmy John4 kun oldin
  • I racked up 60k in debt, but I went for engineering a degree I know gets the job. So I can pay back what I borrow

    Tony MakTony Mak4 kun oldin
  • So this is how lack of accountability looks like . if you borrow money then pay it back simple as that .I bet my internet money that they blew their borrowed money or ignored it for many years and it grew into a mountain, she could have easily cleared her debt when it was 19k but nope her strategy was to ignore it .

    Rational SamratRational Samrat4 kun oldin
  • It seems the idea of the government forgiving $50k of student loan debt is popular with very small percentage of the population. I have read very few comments supporting it. Most of us understand that life isn't supposed to be easy. Where did this class of people get the idea that this is a good thing for America? What happened to "Ask not what your country can do for. Ask what you can do for your country"? I think even JFK would shake his head at this notion.

    Michael GMichael G4 kun oldin
  • If someone can get away with debt by saying “I didn’t know how much $20000 means to me at that time.” Everyone will borrow as much as he can. This is flat out irresponsible. Think about how you can pay the debt before you take it.

    Jaccy HoJaccy Ho5 kun oldin
  • The problem was between 0:00 and 0:06 and the solution is from 6:30 to 6:40

    Tim WainzTim Wainz5 kun oldin
  • Turn that frown upside down.

    Angela KournikovaAngela Kournikova6 kun oldin
  • Tons of honest people are working hard to pay off their loans. You lazy entitled crooks deserve to have your lives ruined.

    K TacderasK Tacderas6 kun oldin
  • Your coments are as if she is a criminal. She is Not. As if you NEVER choose wrong. We all make mistakes, and wish a second chance

    Alejandra WalkerAlejandra Walker6 kun oldin
  • Student loan forgiveness?, how many people made responsible decisions when it came to higher education? Living at home, going to school in-state, working during, not spending all their money trying to live that college lifestyle, and let's not forget the ones who actually paid their loans off. Why are we rewarding the irresponsible people with tax dollars taken from the pockets of the responsible ones??.

    The LahsThe Lahs7 kun oldin
  • Signs student loans to attend a college and now they are hoping student loans should be cancelled? No, they do not get to do that. Students loans will not be forgiven sorry. You signed a contract. Please do your research before signing ANY contract. It’s a life skill.

    Minh NgoMinh Ngo7 kun oldin
  • Of course she has a septum piercing 🙄

    Danny ByrneDanny Byrne7 kun oldin
  • Please don’t take out student loans. The average tuition at a state school for an in-state student is around $12,000. You can make $1,500 a month delivering pizza five nights a week. That’s $18,000 a year.

    Mike KiteMike Kite8 kun oldin
  • You don’t need a loan for a car. You don’t need credit cards. Do you not see that borrowing money to pay for things you can’t afford isn’t working out?

    Mike KiteMike Kite8 kun oldin
  • I'm a millennial and I stood home worked through school and paid a lot of the loans I took during that semester and did the same through my masters. People want to go away for college for the "college experience" and then want to complain after getting bs degrees. It's called responsibility and educating yourself; I was 18 and got finical information online not from my parents.

    therealluper1therealluper18 kun oldin
  • Can u say wage garnishment

    John ConnorJohn Connor8 kun oldin
  • Let me understand this,these students took out those loans willingly with no problems but they are refusing to pay this debt they took out is so irresponsible...

    Reginald CharlesReginald Charles9 kun oldin
  • Just another reason I am a Republican. While I am working to pay off my student loans someone else can become an activist after becoming a college dropout when it was her decision to go to an overpriced college and major in some worthless degree. Loan forgiveness literally just creates another incentive to waste money you don’t have because someone else will always be there at the end to pay for it. How about those who didn’t even go to college they are indirectly fitting the bill in the process. Conservatism makes what liberalism takes.

    MedstarMedstar9 kun oldin
  • International students paying twice the loan on double interest rate by utilizing the limited time they have. Meanwhile there people take loans and then refuse to pay it despite having privileges like citizenship that makes them eligible to work in the country without being filtered out.

    Prateek ParmarPrateek Parmar9 kun oldin
  • Refusing to pay money i wasted on a degree i don't like 🙃

    David LevingstoneDavid Levingstone9 kun oldin
  • It's going to be tough to convince someone to just clear you student debts when you're responsible for the loan. However, people have a different attitude when it comes to corporate welfare. If corporations can receive help from taxpayers, why not the average American? It's always the average American that people scream 'accountability'. Meanwhile, housing and rental prices continue to out price the average American wage and corporations want to pay you the least amount for your degree. I think a serious discussion about lower interest rates and college tuition should be had.

    B2 LB2 L9 kun oldin
  • Why don't they just pay the loan? It's low rate. The student loan gives a good opportunity for a great job in the future? Bad decisions are unfortunate but that's life.

    Donald CampbellDonald Campbell9 kun oldin
  • Accountability is everything. You borrowed it, find a way to pay it back. I really don’t understand why people make this so difficult.

    Jeremy LaneJeremy Lane9 kun oldin
  • I think society and families should stop telling children they're going to college their entire lives. It becomes so engrained in their minds that it's not even a question it's a requirement. College is treated the same way as going to high school and graduating, it's expected. In high school there should be a class that teaches kids about student loans and credit ext.... life fundamentals that their parents may not be teaching them.

    Cabrini CopiaCabrini Copia9 kun oldin
  • Pay your debts, you little babies!!!! You made a choice to attend college, there's a price to pay for everything in life. Grow up.

    Lucien Maignan jrLucien Maignan jr9 kun oldin
  • The ironic thing is that if she just lived a low income lifestyle and had a modest income, she could pay off that debt in a few years and then start to build wealth. What is she trying to prove? That it was immoral for the loan companies to lend her money? She signed for it and so did her father. I’m sorry, but I don’t buy the “what even is 20,000 dollars?” Excuse. Victimhood seems to be worth more than gold these days.

    Doug GDoug G10 kun oldin
  • The haircut and bull- ring What else would you expect

    peepee9161peepee916110 kun oldin
  • She can work off the books in construction and pay it off easily while the government cannot tax you cause they know u don’t have a job.

    Default HelperDefault Helper10 kun oldin
  • Put that lady in contact with Dave Ramsey he’ll straighten her out

    WildBoy LivWildBoy Liv10 kun oldin
  • Moron

    Bastiaan GrobBastiaan Grob10 kun oldin
  • Thank god these loans are not bankruptable. You will pay that debt.

    AlenAlen10 kun oldin
  • The opinions of people who make more than enough money to properly service their loans should not matter when it comes to student loan forgiveness. There's nothing wrong with giving people who are heavily indebted a second chance at regaining financial freedom, especially when their degrees provided them little economic opportunities to begin with. Stop blaming students when you know that it's the government that loves throwing around all this money to colleges in the first place.

    Tomi B.Tomi B.10 kun oldin
  • There are already so many cheaper public universities man... Why are you ruining everyone else's life for your foolish decisions? How will it be any different from the government bailing out Wall Street banks that the Occupy Wall Street movement was against?

    Jaldeep TipleJaldeep Tiple10 kun oldin
  • A loan is a promise to give back money at a later date. Activity resisting to pay back is breaking that agreement. That's called lying, and is blatantly immoral.

    link 2012link 201211 kun oldin
  • Is this supposed to make us sympathize? This is disgusting.

    Jessica RamirezJessica Ramirez11 kun oldin
  • No one forced them to take the loans and now they don't want to take responsibility. This generation is so irresponsible.

    coachraylocoachraylo11 kun oldin
  • Step one: go to college and have fun Step two: refuse to pay what you owe Problem?

    Jakub MrlkJakub Mrlk11 kun oldin
  • This is destroying the future generations

    Kurt RobertsonKurt Robertson11 kun oldin
  • Block renewal of my driver's license? Well, how am I suppose to get to work and pay off my loans now?

    Hi KevinHi Kevin11 kun oldin
  • Insane these kids pay thousands to this colleges and try to get degrees they will never use

    Joey RigsbyJoey Rigsby12 kun oldin
  • I been doing this since 2007 can't stay at the same job and you have to pay in cash

    Samsung Jay2Samsung Jay212 kun oldin
  • What a loser.

    Autumn BlairAutumn Blair12 kun oldin
  • Lol... take a loan less than your annual income? So every Doctor like myself are screwed over. I’m sitting on $350-400k worth of loans and all my colleagues are as well. Our system makes it impossible for us to pay it off! 😡

    Ralph ThomasRalph Thomas12 kun oldin
    • You’re a doctor Do you Not make six figures tho???

      WildBoy LivWildBoy Liv10 kun oldin
  • What about the people who paid off their student debt

    Faith DFaith D12 kun oldin
  • People complaining that they should pay their student loans are also the people whose mommies and daddies paid for them to go to school and gave them spending money to go party every week

    One Smart MinorityOne Smart Minority12 kun oldin
  • I knew how big 20,000 was when I was 17, pretty sure I knew it when I was 7 too. We did math with the big numbers

    Financial PhysicistFinancial Physicist12 kun oldin
  • Pay you student loans period end this dumb argument. Create a financial plan and stick to it.

    Carolina_ducCarolina_duc12 kun oldin
  • I paid off thousands after getting a Psych degree Anything is possible people Stop being a victim

    Josh HudsonJosh Hudson13 kun oldin
  • JR and High Schools need to have a requirement for a Personal Finance course with a special section on Student loans and interest,,,,,,Education is desperately lacking, It should be reinforced by parents but a lot of parents do not do this just say sign up for loans. The Blame for the Student loan crisis can be spread out to Parents, Students, Schools, collegs, banks and the Government all have a portion of the blame,

    Scott JonesScott Jones13 kun oldin
  • The government put railings up in the Grand Canyon and yet they allow people borrow money for majors that past graduates cannot find jobs with sufficient pay to pay them off. This is similar to legislation which allowed citizens with a social security number and a beating heart to borrow half a million dollars to buy a house...we know how well that worked out higher prices for houses leading to 2008. The current federal government is proposing free community colleges because it is overpriced and needs propping up. Just saying

    Richard AngersRichard Angers13 kun oldin
  • To get forgiveness for student loans. As a trade off Would you be willing to give up your tax returns and credits plus having g to pay $1000 each year for the next 10 years ?

    Matthew StewartMatthew Stewart13 kun oldin
  • Loans need to be set back to amount before interest was added. Then payments need to be based on income. Interest rate set at 0%.

    Stacy RarigStacy Rarig13 kun oldin
  • Sounds like it’s time for this girl to grow up

    William LackeyWilliam Lackey14 kun oldin
  • Free free free! Everything will be free! (Vote for me)

    Gabe SmithGabe Smith14 kun oldin
  • Her poor dad was force to pay for this lazy woman who waste her time going to school. Lol

    Pedro GomezPedro Gomez14 kun oldin
  • If you are not responsable for your own mess, who do you think will pay for that? Tax payers, lol

    Pedro GomezPedro Gomez14 kun oldin
  • I will not allow my kids go into debt for a dumb degree.

    Blitznstitch2Blitznstitch215 kun oldin
  • This is so frustrating to me! It's pure irresponsibility. If you are in a position to go to college and you choose to do so, you are responsible for paying for the classes. It's a choice you made. College is not an entitlement. This debt is being passed on to everyone else. I say this as someone who has paid 50% of my 38K loan to finish my PhD. I spent 6.5 years attending part-time to work as I went but had to pay for a 1-year residency. I'm working hard to finish paying it off. It's a lot better to be debt free than having that loan hanging over your head and destroying everything else you want to do with your life.

    Christine GreenChristine Green15 kun oldin
  • “I want you to pay for a degree I never earned”

    David CarcamoDavid Carcamo15 kun oldin
  • To the Women who are in the Video: If you are reading this, please come to Pakistan. Pakistan is way cheaper thin American. As an American you don't have to apply VISA Blah Blah just ticket to fly. You can here have a decent job and a decent earnings. Also you can have credit card here.

    Ahmed QamarAhmed Qamar15 kun oldin
    • LMAO

      The Time is NowThe Time is Now13 kun oldin
  • The financial literacy for them is pretty sad. The fact that they want to have their debt forgiven for their choice is also pretty selfish. No one forced them, they chose to. Not being able to imagine the consequences of taking out a loan that’s basically the cost of a down payment on a house isn’t anyone’s fault but their own.

    Adrian SainzAdrian Sainz15 kun oldin
  • All through High School... the schools brainwash these kids that they have to go to university and colleges. It’s the parents that need to step in and tell them the truth. It’s a big money grab and fraud. They come out of College in debt for the rest of their lives. And many parents give up their own retirement money to send their children to school. Number one these kids need to know that if you sign your name for a loan that you will need to pay it back. I’m sorry she never learned how big 20k is, she is the perfect example of someone that should not go to college until she had some real world “adulting” experiences. Get a job, feed herself, put a roof over her head.. I’m sure she will be happy to live a different life style..

    Lillybell BellLillybell Bell16 kun oldin
  • We don’t all have the same options to choose from, but we all make choices, and some people are products of their choices rather than options. Still gotta make upward mobility more accessible but society can’t help a person who won’t help themselves.

    M SiM Si16 kun oldin
  • She needs to work whatever jobs she can get paid from for the next five months or longer than next year she does her state taxes and federal taxes at H&R Block if she get a refund from her income tax return H&R Block will put that refund money on a prepaid credit card and with just two or three refills on she will go from a 300 credit score to 765 credit score she has to get off her butt and work if she has work 60 hours a week or 80 hours a week then do so I know this works because I'm the same thing she takes all jobs as long as she is able to her monthly expenses and put the rest on her debt the second thing is because she went to the school she going to whatever jobs are around what did she learn in school that she can do as a side hustle

    Rochelle JohnsonRochelle Johnson16 kun oldin
  • sounds like she's purposely keeping her income down to avoid making payments on her loan, then complaining about the results of that choice. lots of comments on her about 18 year olds not being able to make wise financial choices, but apparently 30 year old women with septum piercing can't either.

    sls slcsls slc16 kun oldin
  • I think the pandemic has taught people a big lesson, having one stream of income is not really a good idea cause your job doesn't secure your financial needs. The pandemic has really set out business-minded people from the rest that is why I'm so lucky to be among the investors trading with *metro__kelvinfx* on insta as his student it's been success and happiness since the beginning of my trades.

    Micah BamaiyiMicah Bamaiyi17 kun oldin
  • No Part of this is a good idea

    Jazmin HigginsJazmin Higgins17 kun oldin
  • If you become a truck driver you will surely pay those loans back. You can go to the training for free. Do you it until you save enough and after find something else you really like to do that can of course pay bills. It's ridiculous to remain poor just because you do not want to repay the money you willingly borrowed. I was $130000 in debt. I have already paid $25000. I am working on a plan to pay it off asap. My first degree did not serve me. I took the traditional route for a limited income person. I went to a community college, transferred to a 4 year university. I graduated with $8000 in student loans, all the jobs I applied for always picked another candidate over me. So, I decided to just go to a private school for an accelerated degree in healthcare. Now, recruiters are calling me left and right for job opportunities. I am not a financial expert but when you do what you love make sure it pays bills. Have multiple sources of income. Stay with your parents if you can because you can lower your expenses when growing your savings. Refinance your debt to the longest term you can afford but plan to repay them early so you do not pay a lot in interest.

    Useful Tips, Tricks, and HacksUseful Tips, Tricks, and Hacks20 kun oldin
  • You can always apply for a secured credit card to start building your credit.

    Useful Tips, Tricks, and HacksUseful Tips, Tricks, and Hacks20 kun oldin
  • I think when looking at student loan debt, to me it makes more sense to relieve people who have been working hard to pay back what they can, vs people who have just flat out not paid anything. Reward those who have at least been trying.

    ahastar1141ahastar114121 kun oldin
  • you borrowed it, you pay it. its that simple.

    Ronald ReaganRonald Reagan21 kun oldin
  • I'm stuck on her claim of her inability to raise $1000. After 60k+. Really?

    Mandla MehlomakuluMandla Mehlomakulu21 kun oldin
  • Y'all this is so depressing.

    wr wewr we22 kun oldin
  • If you can’t think about how big $20,000 is, you shouldn’t be going to college at all

    Michael LightbownMichael Lightbown22 kun oldin
  • Lol. Enjoy your experience for the next ten years broke and unavailable to get credit

    Billy and CorinaBilly and Corina22 kun oldin
  • They're deadbeats, discovering the consequences of being deadbeats.

    Greg SnyderGreg Snyder22 kun oldin
  • 0:08 The look on her face said it all. *STUPID!* People ought to stop using the excuse of "I was young. Therefore, I didn't know my loan was a lot of money." That excuse is so disingenuous. If you can count to 100, you know what large numbers look like. No one forced you to take the loan(s). The issue is that these people view loans a "free" money simply because they're not required to repay immediately. I'd be willing to bet that the woman at start of this video wouldn't have taken that $20k loan if she'd been required to repay the entire amount in 30 days. With that stipulation, she'd have understood how much money that is at the age of 17.

    Aye FlippumAye Flippum22 kun oldin
  • Im still paying my loan because Im a responsible individual. What sucks is the insane interest rate!

    P QP Q22 kun oldin
  • Shame on you! That was your choice, and it's extremely dishonest of you to not pay back what you borrowed. What did you do with the money? I got two degrees and paid for them myself (with a loan for my second degree) while raising a family and working at the same time. You should've picked a career worth pursuing.

    MRMR23 kun oldin
  • Good luck with that after they garnish your wages and income tax. Also your credit will be shot to sh*t so no house, Apt, credit cards or future loans....

    Googlebanmetoomuch 2Googlebanmetoomuch 223 kun oldin
  • You know all those soldiers who died for our freedom. Can we just give them their lives back and say we're sorry? Sorry that our generation is so incapable of humility that we blame EVERYONE else for our mistakes. Let's do an exchange program an ungrateful millennial for an immigrant.

    Rebecca H.Rebecca H.23 kun oldin
  • Refusing = entitlement attitude

    applejmapplejm23 kun oldin
  • This system is broken and has been broken for decades. The same reason the American dream has ended!

    J RJ R23 kun oldin
  • We must fight as hard as possible against forgiving student loan debt.

    James FrankoJames Franko23 kun oldin