Transcript of Episode 102 - Crippling Student Loan Debt
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00:00:07| there you are so free full of hope and promise got choices to make what are you gonna do with your life what career are you gonna choose where are you gonna go to college
00:00:17| uh-oh it's a boatload of money involved do you know any of this no who cares let's just go to college let's talk about student loan debt and how it's gonna ruin your life
00:00:34| so I'm Dan and I'm Nick bows for old friends dissecting one topic at a time people technology media we've got it all covered each discussion here is a deep dive in or unique perspective the tab is
00:00:49| business subjects they're all on the chopping block baby we don't pander to popular opinion you might get a little bit dirty morning this podcast may contain mature language and sexual
00:01:01| content and it's for entertainment purposes only so join us have a good time so there's Nick oh wow oh and there's another how crazy is that she showed up she's just an invitation to
00:01:36| your right so then how did I forget that well welcome hey Suzanne Harris of to the L Harris Fame Twitter hugely popular founds hunger in circles it's like 10 o'clock
00:01:56| at night over here so I was able to book you in thank you gosh live right Andy very lucky mm-hmm the frame of the sheets well we're glad to have you and I'm glad to have Dan over there because
00:02:08| today I think it's finally time we take the gloves off folks it's all about student loans a loan company guess what had sex with your mom a student loan company guess what I'm
00:02:21| not paying another friggin dime quote me okay I made like 300 straight payments I'm out how do five thousand so with the rest of America and most of the Millennials I've
00:02:35| been reading about we're not paying any more I was over we solve the debt crisis I don't know if you're honest or not whether you actually pay them off finally they did not pay them off it's
00:02:49| ridiculous how much longer only 33 I actually have my paperwork with me I printed it for everybody we can have a laugh later okay we're out there yet you'll run through the process of the
00:02:59| beginning of of the loan yeah just real sorry I just wanted to put out the big statement because it's been in the news a lot lately forty-four point seven million borrowers
00:03:09| yeah so it's a pretty big number but not like everybody in the world right or in the United States a collective debt one point five children one point five six trillion is not a lot yeah to forget a
00:03:26| lot but that's enough to build a wall around the entire country all right so how does student debt happen like wow I even have student debt Dan I know you wanted to jump in there and just say
00:03:41| let's start from the beginning sure I don't you so you're in high school and there are career paths I guess there are paths that cost money more money than others like you can go
00:03:52| to trade school or you know just start working most people with the American dream they go off and go to college they pick a major and they decide if that's what they want to do for I don't know
00:04:04| for the rest of their life but for the foreseeable future until they pay their loans off because it should be a good wise choice that pays off in the end should so I chose a major that was based
00:04:17| on just creating stuff so I became an engineer but that was the only reason that I ever went to college that was the only thing only thought in my head so for Nick who I chose biology cuz I
00:04:31| was really good at it you started on Maya yeah I was my husband for a year and a half I was straight beads baby don't put your chair for Channel but it really was boring and tedious and I want
00:04:44| to do it for the rest of my life hydration reports made me want to throw up just sitting in labs when it was like I know the result its endothermic and we'd be like well you're the goggles
00:04:54| here's this here's the material you got to check out the material list we got to do this we got to check them out you're gonna have your partner you're gonna check out your goggles make sure this is
00:05:02| here we're gonna fill out the report before hand you're gonna weigh them you're gonna weigh them after the fact and oftentimes it didn't add up exactly the way you wanted it to and they were
00:05:10| like just sludge the numbers you know what it was end of you know and you're like okay that's this is great and then it'd be like write a report has to have this in the what do they call it they
00:05:18| break it down like a thesis production introduction yeah oh my god it was the worst writing I've ever seen in my life procedurally so bad yeah there's a whole whole slew mmm so I switch to something
00:05:34| that would make me a little more money journalism English gonna be a newspaper writer next year yeah yeah yeah so we have our ironically more I did I dude I love literature I love reading I
00:05:50| love breaking down film I love breaking down themes I love like higher level thought it's just the applications in the real world he's a real good thinker white good thinker there's nothing that
00:06:05| he thinks outside the box was he do well he thinks outside the box what does he do I see his resume outside the box there's nothing on it why is there there's nothing on it it's outside the
00:06:17| box yes it is it's anyway no I switched to English I did pay the same for it and still paying for it so Suzanna why did you pick microbio or
00:06:31| did you start with that I did I did I'm like one of the weird people that I loves lab reports no no everyone hates it that's what's so funny you're like oh I hated endothermic
00:06:45| reaction I was like yeah me [ __ ] me too like no one likes that no biologist likes that point yeah those would be chemists but chemistry I really did hate industry I was terrible I'm terrible at
00:06:59| chemistry is bad I can't really good at biochemistry because it like has an application you see it and it's not just like random shapes and they're like well technically that J that way it's more of
00:07:13| like if the shape is like the wrong way then all the babies die and you're like meat okay that's my head no an application that's yeah I know that now um yeah that was a tangent um so no I my
00:07:31| junior year of high school I was taking an AP bio class and we had like two days on microbiology was about bacteria and viruses and I just saw like that is a cool [ __ ] I've ever seen
00:07:42| I just wanna I want to get to learn about that and so I chose a school I was really pissed about my school to be honest which is where I'm wearing it now property of Iowa says yeah okay oh yeah
00:08:02| I have to use it cuz I just don't get to wear it out in public very often anyone I know haters gonna hate from the Muppets anyone under 30 doesn't know these yeah yeah so I chose I actually
00:08:19| chose the University of Iowa because I wanted to have a program that had a good microbiology program a decent study abroad program and that I could like partially pay for my family helped me
00:08:33| pay for half of my college but I was able to pay for things out of things like fellowships or scholarships but they said whatever your whatever you go to college for you got to be able to pay
00:08:43| for it somehow and or half and so yeah I wanted to go to a bunch of different colleges and when up happening is that the best college in terms of just the the science
00:08:57| and the Spanish was University of Iowa which was two hours away from where I lived and I desperately wanted to leave Iowa but you know I I didn't I decided to stay there and I loved it like it was
00:09:08| it was two hours away two and a half hours away from home I heard from that's plenty your your away unless you have a true helicopter parent you're gone you don't need to
00:09:18| come back and yeah it was really great but I was really glad because at the time University of Iowa I think our our tuition was only about seven thousand a year nice yeah so it was fine and able
00:09:33| decision at state school yeah it's a super public school people come out of state from Illinois because it's cheaper to be out-of-state interests
00:09:46| yeah so yeah so in-state but then my brother you know we obviously grew up in the same house he went to a private college in Iowa just because he would get a soccer scholarship but money much
00:10:02| more student loans but he also he's also just got permission whenever he's getting his CPA license and so he has like a real job and he's gonna be just fine we don't even worry about him so
00:10:15| financially aware I don't think I was I knew the amount I think my school was like $26,000 but they gave me a scholarship for like eight and then I had like financial aid some portion of
00:10:29| that and my parents promised to pay all of it until a certain point where they said nah we're not gonna do that anymore here you go and I was like wow that's great thanks so they gave me the
00:10:42| remainder of the loans at the end which wasn't where they dude signed for it and then make you sign for it well I think as a student I don't know that I don't know that I signed for it but I must
00:10:55| have like I think they were in my name but they guys signed which right is the normal path I think most people do that they take a loan out for themselves or they have their parents co-signs up a
00:11:04| cosigner for it or there's a third option where I think they're like called PLUS loans where like your parent plus loan can be your parent paying for it but with a loan so
00:11:13| that like your name isn't attached to it but there's consequences that they can give the loan back to you at a certain point like force it on your name which is kind of weird yeah it's also weird
00:11:26| for a 17 year old or 18 year old to take on like that decision 60 yeah like $60,000 I mean it's how much was yours per year Nick 18 or 20 or something and then did you get a
00:11:39| scholarship no I went to University of Delaware his only school he didn't get a scholarship to because I thought it was the prettiest school oh it was it's the most beautiful campus of I've ever been
00:11:50| to and I knew that if I bought items there I wouldn't have to pay sales tax so saved a lot of money yeah and in the end it worked out so my parents helped pay for my first semester and then the
00:12:05| rest was on me so I think was it maybe it was was it 15 grand a semester I don't know all the numbers start running together a year I was out of state as well 15 grand a year started at 15 in
00:12:18| grand a year that makes more sense what do you well we what did you have when you ended see like that's the crazy thing is that's the most money we spent and we have no idea we're unsure you
00:12:27| would think that like I know exactly how much my car cost so there's a fraction of the other which the other funny thing is by the time I got to junior year I just took out more money than classes
00:12:37| were because I needed rent because I was living off-campus so I took out just extra money cuz I was like you need it for meal plan this and I did work but it wouldn't have covered housing etc and I
00:12:48| actually found no I printed my my um my loans excitingly enough it was up since we're I'm depressed you look sad and mad it's making me happy I was trying to go you guys are
00:13:02| getting really happy that's fine I hear you shuffling papers like you're reading like like numbers on it how are like I don't know like what interest means you don't know how it accrues it's
00:13:18| compounding like you don't interest check out that girl over there I'm interested buddy haha it's 8.5% are you sure you're aware I just flicked down my shades I was like
00:13:29| sign me up I'm 18 like I thought it was pretty cool at the time but interest is not that cool the piece that I did not realize and I
00:13:38| don't even know I don't know I mean I know how we didn't realize there's there's no way to understand what the hell is going right you can at that age anyway but but I had I had parents
00:13:49| looking into it like I think this is your best option and I got to I got to my sir my senior year because I had to take out loans and I was like wait I have money in savings why do I have like
00:14:03| eight thousand dollars in savings and I'm taking I took out loans the first year and it turned out like we had for some reason been like oh we better if you have a cushion in case anything
00:14:12| happens which I get bad it's nothing smooth kind of but what an up happening is like I you know I wasn't on financial aid so I was on a six point eight percent interest that started as soon as
00:14:26| I got the loan oh I don't realize it's mostly not deferred yeah yeah cruise was cool yeah so but it was funny like my last it was because it was a double whammy oh just like pissed me off
00:14:40| um so I had for the first three years like that was the standard rate was 6.8% the year my senior year the year that I didn't have to take out loans cuz I was like well I'm gonna use this savings
00:14:54| money because that's interest-free essentially that was the year when Obama had the switchover to everything being like two point four or four point six exactly how lucky for those other
00:15:10| students they loved them there's an interesting like period between when Nick and I went to college and when you went to college that the interest rates were like you know freewheeling and they
00:15:22| were up into like the six or seven percent before we went to college and like to 2005 for range you could get loans for like two or three percent so the people were getting this fantastic
00:15:32| deal where they still carry the there are something like 20% of school loan holders are actually above the age of 50 I saw that that's crazy an absurd amount of money and like they keep that
00:15:44| because either they're paid for their kids or their loan riots aren't worthwhile to pay off because you can get more money in the stock market that's that's that's so out of my league
00:15:57| yeah by the money to pay my bills and then I was like on top of that I won't because I can invest it good I mean that's essentially know why people like take out a mortgage but then you know
00:16:10| don't pays off early yeah hmm it was like the I think it caught like a dead waterfall like if you have multiple credit cards that have high interest rates and they're like the interest
00:16:21| rates drop off you want to pay off the highest interest rate first right well that that's isn't that called the snowball to like you couldn't think you could snowball if you want to just need
00:16:39| to pay off my debt man I gotta spit it back into your mouth there's an open everybody's desk table right now yeah live it works so that's what we should call the campaign to get rid of the
00:16:56| student debt of like you know what those snowballs did you know Sallie Mae got sued and that's why they're say divided or whatever they got ya Washington state government and the federal government
00:17:09| sued them because their practices were what's the word for deceiving and Malaya would take the shortest route to not alert people that their stuff was due and then called them delinquent and then
00:17:22| collect extra money on it ha hmm they were also the originals to selling your phone number out to tell marketers which wasn't legal at the time oh they got sued up their butthole but that
00:17:32| doesn't affect like they didn't give the money to anybody I think that he's got in trouble slap them on the wrist and then they um sold off the student loan portion other thing to are they navient
00:17:43| uh ha they are yeah with her I was like now I have no idea what yeah it's like who [ __ ] you my money how much did I pay yeah that's how I feel I'm always like what take it God
00:17:55| please take it mmm yeah always the security questions on there like we have to make sure to see I'm like I don't give a [ __ ] I'm always like please open-door policy will pay for it go work
00:18:08| thank you don't care you drag on any so we're gonna talk about the different types of loans ah this guy did some research so there's well hey I guess you can go
00:18:19| and get a full scholarship bedroom mmm and that's one way of saving money like grant money that might not be available people as a key game the system by not being us hey I'm not gonna say the
00:18:37| commonality between all of us so there's also federal loans and they break down to like subsidized unsubsidized so like a subsidized loan is subsidized by the government the
00:18:49| government actually takes care of the interest while you're going to school so those loans don't accrue while you're going to school so an onsen that makes sense yeah and unsubsidized will this is
00:18:59| what interests me so the government is paying off the interest while you're in school I don't know if it's like or the government just has a deal with them where they're like just we're not
00:19:07| charging them the easiest way to describe it is that they pay for pay the interest it's interesting you say that just because the only research I did that brought me to here is that um
00:19:17| there's nine companies that bid to be able to hold student loans did you know this hmm it's not just anyone can have student loans there are nine companies they all bid for this they all sucked
00:19:28| off politicians sucked off somebody in government and sucked off somebody else's butthole anyway there are nine companies I'm gonna name them they're all good people
00:19:36| anyway they probably sucked off a lot of people on the way there cornerstone pH EAA Granite State Great Lakes hESC and financial mohe la navi n't Nelnet and os la servicing servicing buttholes around
00:19:50| you anyway they're great folks everyone who works there if they all suddenly got some kind of weird disease we feel terrible powerful indeed would awful but but it
00:20:05| strikes me as weird that you can bid for it and then get to collect money off of people who are seventeen who are signing up for sixty thousand dollars and don't really know what they're getting into
00:20:17| happen baby I don't know that kind of brings up the question too of like when when do you have financial freedom when when are we deciding that people can make these
00:20:27| decisions if it's a federal loan it's a good sweater you come of age you can get a federal loan for schooling before you're 18 or 17 or 16 yeah which is bizarre right cuz even at high school
00:20:38| they don't teach you finance they don't teach you the stuff that's gonna cost you the most money for the first no not at all ten or twenty or thirty years your life no no and like
00:20:49| they don't know I mean I I went into the financial office at one point cuz I think something was wrong with my password or something and they were basically like which form do you need
00:21:00| and I was like I don't know I'm here because you should no no no anything like I've got loads like yeah you got to deal with that through it was telling me at the time it's like what are you doing
00:21:14| we like money we like money just send checks well they're just workers they just literally get take me the minimum wage to just answer question XY and Z they don't really know I don't think
00:21:26| yeah I don't think yeah I don't know I mean I can't tell you the biggest you know one of the big issues is that costs of education are going through the roof right like rent and cost of education
00:21:39| going crazy right through the roof yep dony rates on that um I don't I do have rates somebody said it was between like an 8% gain like over inflation and like at certain points it was like a 26% gain
00:21:56| so every two or three years I honestly three to four years is to cover my ass that like the amount of money would would double so like hold the cost of education compared to like the people
00:22:08| who went ten years before us or 20 years before us it's like they could have worked part-time job and paid for college while they were going to college for us it's
00:22:16| like you have to have like some sort of magical job that pays you in the off hours that will cover for date wait what let me get to averages here because I think the average was like 26,000 for
00:22:26| like public university yeah it was actually twenty five five twenty five five and the private one he was like thirty one thirty two or three I didn't have that it at the private number net
00:22:38| per oh that's good it's like that amount of money a year is impossible to earn and in my opinion unless you get like a fantastic job or your daddy has a business exactly I can cover your daddy
00:22:50| that's like a lot of things here there's like people have daddies yeah if you have daddy can meet many things its own wants to be my daddy I have an application down here
00:22:59| but speaking of applications did you know the government has been pushing through this uh student loan forgiveness stuff it's shown up everywhere in student loan forgiveness is happening as
00:23:09| we speak every one student loans are being forgiven in fact civil servant civil servants student loan forgiveness they just put in applications last year you're a civil servant servant you gots
00:23:22| to outstanding student loans some twisting my tongue here they will forgive you they received forty nine thousand six hundred and sixty three applicants last year they approved 423
00:23:35| it's fantastic to be forgiven do you know why is that less than one it is 1% oh my god I know I'm one percent well some of them said the applications weren't filled out properly some of them
00:23:48| didn't didn't pan out some of them were what did you ever reason have this exact reason I was listen to somebody oh please do yeah and they said that this is a new thing so like if you were to
00:23:58| apply you needed like ten years of experience showing that you were a public servant and since the program didn't exist ten years ago there's no way that you'd know what to do in order
00:24:08| to like achieve what they were asking so like this form that you fill out wasn't didn't exist so like he was saying that this is the first year that people could have possibly claimed it and that no one
00:24:19| knew what the hell is going on it's awesome fantastic little program when a plan comes together mmm so I think that was like ICR which was a income conditional that doesn't
00:24:33| sound right it was like based on what your job was so you can do like public servant you can do things that are for nonprofits in order to say that my my loan should be
00:24:44| forgiven should be wiped off the record because I didn't something Noble or honorable or wherever you want to call it we're the UM default rate right now that only covers federal loans though as
00:24:56| Nick and I found out today private loans do dams like ah you could probably get waved away yeah it's gone no worries no one's no one's been forgiven it's just more [ __ ] so that
00:25:09| they can appease the masses like yeah we're forgiving them we're forgiving them just keep paying something interesting for y'all is that um they're blaming Millennials but it's just
00:25:18| everyone coming out of college now who's starting to pay their loans the default rate right now for people who haven't paid in ninety plus days their student loans is eleven point four percent
00:25:29| hmm it's pretty high number I thought yeah they're just not paying they're like mmm effort so that's one thing you can't take my friend so I didn't know my buddy and my new work he goes I didn't
00:25:44| even know he went to college he's like and they started asking about me and I was like who he's like student loan people called my work now they're garnish my wages again yet but
00:25:57| ironically enough they can only take up to ten percent of his um gross I think yeah that's called math house IVR it's like income based repayment so like you can make it so that if it is a federal
00:26:11| loan that you can only you only have to pay 10% so there are tricks around like navigating it I think Suzanne is trying to figure out how to dissolve her debt right now she's
00:26:21| thinking about yeah you know one of the biggest reasons that I didn't realize how they give an issue this was I was looking for some stats that we did we do it before the episode I don't know if
00:26:33| your idea I mean your daughter that's before the episode started when I was like loans but okay okay but no no the biggest the biggest change because people look at know why is it why is it
00:26:51| becoming more expensive you know is it just installation like you were saying it's it's not at all tied to inflation it's tied to how many administrators were adding into the university systems
00:27:04| so you look at professorships faculty relative to how they used to be it used to be that faculty who made up like full-time faculty were the majority of a university system and now there's a lot
00:27:20| more part-time faculty and a ton more administrators and you know there's a couple there's a couple things with that and this was there was a really interesting podcast recently on a hidden
00:27:33| brain that was just called useless jobs and they're talking about these positions that basically hire up people in universities would they would come in and as part of their package they would
00:27:46| get an assistant and so you know if you've got a higher level job you get two assistants and then they kind of had to come up with jobs for these people and then once there were jobs for these
00:27:54| people they had to find replacements for those people when they left so you suddenly have yeah you suddenly have people who are recording meeting minutes and then meeting about the meeting
00:28:07| minutes to try to understand how to lower the meeting minute number per output you know and you know universities autumn the country are trying to cut down on cost by getting
00:28:19| rid of faculty because you know per person they do have the higher the higher paycheck in general right you know a faculty member is gonna making eighty ninety thousand dollars to start
00:28:32| out with not to mention free tuition for a nephew her grandson her relative or godson her next-door neighbor's kid who they put in her name someone also has to pick up the slack of those free tuitions
00:28:43| right so I did a I did a little look at like Harvard I also like Harvard's tuition is yeah it might have saved you some money um so there they have been endowment so
00:28:58| like most of the colleges have an endowment Harvard is the largest they have 38 billion dollars invested so that they could reap the interest so that that covers operating costs like
00:29:09| operating costs at Harvard are four point seven billion dollars per year it's ridiculous amount and the point I'm making here is that tuition for bachelor's and master's degrees for all
00:29:23| of their all of those people paying to actually go to that school is only like operating cost it's like a really small fraction it's really it's strange and I don't I don't really comprehend how it
00:29:37| could be four point seven billion dollars to run a school over a year this was gonna sound weird I am live with someone who's a a college track administrative person who hires people I
00:29:50| don't know what that means like she's I didn't want to give her a position away totally but um she accepts people or rejects people she's a rejecter yeah she's rejecting little
00:30:03| multiple times yes okay but cash and she's always talking about she's always talking about um the school and the board and the president and everything and when she talks about her work it
00:30:17| very very very much bores me a little bit sounds like just another business that's selling shoes or something and this is like the higher up in that the offices and everything and also that
00:30:31| they argue about the stupidest stuff and they had IT problems and they're switching over to a new infrastructure and they have to hire this guy and there's another thing and then there's
00:30:38| parking issues over in the third street and now we have to have all the students park over here on third and I'm like nothing that you talk about sounds like it's student based at all it just sounds
00:30:49| like business stuff boring business stuff to the point where they're like we're thinking of hiring a new photographer who does our brochures I'm like who
00:30:57| cares but what you kind of mentioned is that all these costs are more like nodding a small city where it's more yeah it's it's running a small city is what it is and the cost for hiring
00:31:11| janitors and groundskeepers of photographers and someone who does the CAD Department someone who mails these stupid acceptance letters that you get and someone who designs the stupid
00:31:20| acceptance letters you get and someone who designs the stuff inside the building and who decides what gets written on their shirts and what their new slogan is gonna be next year and
00:31:29| they meet 14 times to decide this and I hear it and I'm like this is the stupidest thing in the world but that's probably part of the cost I assume I don't know where I was going with that
00:31:42| but it bit tight in the way you guys said and it's really run lines more first hand you guys google it mine's first hand so Mike I'm competing I'm just saying anecdotes eat it mm-hmm yeah
00:31:58| that was part of like the running of a small city like they allowed colleges to be small cities which is kind of strange they do they have different laws actually then they have their own police
00:32:07| force a lot of them like mine did we have the University of Delaware cops versus newer cops there were different different forces there were different rules there were different um yeah
00:32:17| that's that's bizarre when you think about it I've you're heard of like the discount tuition rate you know the whole lawn do you know about tuition resetting I don't know if that is either okay so I
00:32:31| heard this from somebody done in college I know okay do they do something called every four years of college will start advertising this and start talking about it and sending commercials and stuff
00:32:41| about this but they reset the tuition meaning they reset it back a couple years when they do this they actually reset the number back a little bit and then they have to cut off who they give
00:32:51| scholarships to some of the scholarship funding and then they do something else real shady and I was like is that legal and they're like yeah it's just it's like business it's like working at
00:33:01| Kohl's they're like hey we got a new rack we're rolling back prices when everything's marked up 80% and then they mark it down 30% like I don't know if what I'm saying me so this
00:33:13| is exactly what I was gonna talk about actually I got good the discount tuition is like the tuition that they say like you know half off like this is a this is a great deal like they inflate the rate
00:33:26| that they give people they say like my school costs forty five grand but we'll give you a scholarship for ten grand but like little do do people know that like the discount rate for colleges that the
00:33:37| averages is like fifty percent of people get a scholarship it sounds like the actual normal rate of a college is probably like 35 K instead of 45 K right so part of that is like it's also a
00:33:50| [ __ ] tactic because people get suckered into thinking that they save money by getting a scholarship and then when you show up and half the people get a scholarship based on their academics
00:34:00| when they get in a class that is tested and adjusted to the curve so like pitting you against your classmates you like the odds of shaking out the people who are lower than like half the average
00:34:14| you essentially get to eliminate half your scholarships because your curve adjusting you're half your population half those people lose the scholarship and then end up paying the full amount
00:34:22| so that's a trickery yeah trickery so the sabotage yeah like you know when you go to j.crew or in a banana the word sale painted on the window right you know that's not a sale
00:34:40| that's not how shows work but it's you know it's basic human psychology that you know they've done plenty of stuff where you don't want to buy there's a place in town that does this I'm like
00:34:53| does do people really not realize this but they'll say like buy six biscuits for this price by 12 biscuits for this price and it's like the same twelve do the quality in more quantity but yeah if
00:35:15| you see something it's half offer if you get someone who says you know this usually cost 45042 $45,000 and we're gonna give you ten that actually feels a lot better than a $10,000 and and also
00:35:30| you're going to the school that cost forty five thousand dollars right like yeah that's way better than the school it cost seven I'm really sorry he's got something to say about me I
00:35:39| know it no no about you it's not very dessert at my old job gonna be about me we had little bars of soap like we would sell soap just little bars of soap 30 cents 30 cents a bar and I wrote on the
00:35:53| display like we would put the soap out here Oh initiative right here initiative for a dollar my dad was so mad at me he eventually made me take it funniest joke in the world and and and every now and
00:36:12| then some be like that's not a deal I'll be like again three it's just it just cracked me up on the inside maybe that's it yeah but that's what sales are you ever buy it though they they're like oh
00:36:28| no I threw the dollar anyway that's a deal right there oh yeah let's go so the whole scheme of doing this doesn't make sense to like try to put this on like a 17 year old to
00:36:42| try to figure it out and it's kind of the biggest decision of their life really because they're trying to look for a major that's what it is covers their future cost of living and most
00:36:51| people during us yeah I think we didn't make the decisions based on how much money we would get or the return on investment if you were to look at it our ally ROI folks how that's a tough ROI
00:37:03| yeah ROI sir no that's all I had no there's no it's a tough choice I mean I think it took until I actually had to pay it off for me to realize like how much I had wasted
00:37:16| on a college education kind of how long did it take you to pay yourself and like if you don't let me ask him like how much did your parents end up covering half a third my college 80% my college
00:37:26| is weird cuz we just five years and then we worked one year of that and it was split throughout the college so I was making money which is why I think my parents were getting pissed
00:37:34| off at cuz I was making 16 bucks an hour and so I'm like 32k a year but it was split up a like semesters so at the end of it I had like maybe a K in the bank and then when I started my first job
00:37:46| they gave me a relocation bonus which covered like the twelve or 10k that I had for student loans and it was a small amount so I just knocked it out right away so I didn't really have a student
00:37:58| loan a high interest rate okay I mean you paid for it but with whatever you had made so kind of yeah he's zero side aimed it yeah I didn't leave with like $100,000 worth of debt which I know
00:38:09| some people who did and then they had hard time finding jobs while the interest accrued and paying it off is like brutal it's ultra brutal watch us I got this one down pat Susanna
00:38:21| um cuz it's the opposite my visual yeah you can you accrue a large amount of money going for this PhD etc etc mm-hmm without giving us a specific numbers if you don't want no no no I get paid damn
00:38:38| money yeah once you get in the higher degrees there doesn't cost you anything Cheers yeah in in humanities a lot of times you pay or if you're getting a
00:38:49| master's MA but if you're gonna PhD and the reason for this this actually makes sense because at first I was like this can't be possible it's because the majority of the money that comes into a
00:39:03| school is not tuition if it's only tuition they'd be running at a loss if they just had to if they just took in tuition and then paid for the building cost associated with teaching students
00:39:13| they would operate at a loss even with the crazy prices the majority of money come from endowments from donations but most big ro1 universities they are coming from
00:39:27| research money and so the people doing the research the people who provide the data to get grants are us so this we define thing is that it's rescued stopped going if grad
00:39:41| students stopped doing anything and that's what happened actually at the University of North Carolina this last semester with we have this whole thing with silent Sam I don't know if you guys
00:39:51| heard anything about it but there was this yeah I think I enjoyed the show just now yeah and so yeah grad students you know forever nobody had listened to us and somebody
00:40:04| was like ok it's nearly on the semester this is why you're doing it this time because you don't think students will care so we're not gonna turn in grapes and it became very clear how much power
00:40:16| was actually in the grad students that are normally treated very well given their expertise given you know what few benefits we have and what we your are going towards but it became very obvious
00:40:31| how how essential these these lower pieces are so so yeah I am paid my tuition is paid for and yeah so I get paid before taxes I think it's 32 or 33 which is it's a and for me it's very
00:40:51| liveable for me it's comfortable but I think my issue is that all of these schools keep preaching this idea of diversity they keep preaching this idea of we want to have first gen students we
00:41:05| want to have mixed background we want to have multi race we want to have we want to put it our pamphlet so that our pamphlet and then the truth is is that they're not supporting it you know
00:41:16| there's a huge difference between asking for integration which is bringing in people and saying yeah you have a family yeah you're you know you're mid-30s and you've got a family but we want to
00:41:27| support you that's integration yeah versus most the time we're just asking for assimilation we're saying you know it's nice at your first gen we brought you in here we gave
00:41:36| you a discount now we're gonna do any resources and you have no idea what you're doing you know or you've got a bunch of really racist schools that are like oh we gotta fix our optics let's
00:41:47| bring some people of color and then they don't have any programs to support them like they just bring in three students and then take pictures of them they don't
00:41:56| have like an actual program or anything to reach out to anyone else it's just history so for grad school they're they're really big about it they're really like we're inclusive we're like a
00:42:06| bunch of different ideas and then pretty much the only people can afford to get your grad school without you know really digging them as a whole is somebody like me that I'm comfortable I have a safety
00:42:17| net I don't have a family or outstanding tons of loans did you did your parents help pay for other parts of college entirely some of it I'm just curious maybe that's that they covered half
00:42:30| right big Everett half everything and all that whatever yeah yeah it didn't include like food and clothes and stuff like that but it was it was bigger room like it was housing and tuition which
00:42:48| you said was like 7 K right so they paid half of 7 K for a semester so that was like four years times what - - changes every year ask me so what did you end up having in school at the end time is
00:43:02| alone and do you still have it right so again I think I was really fortunate and I'm also like I'm a really goal-oriented person and so the thing that got me through a lot of stuff was this online
00:43:17| site called CNN money calculator and it's or you like type it that in and it'll show you like your student loan thing it's really fun there's like three things you fill in which is I think the
00:43:31| time I'll not be fun I'm looking at my stuff right now look at how much you don't keep going you know no it's fun because you would put in you'd say you know I've got $10,000 outstanding I've
00:43:41| got this interest rate what would happen if I paid off $200 a month and everything calculates how much you pay overall and how long it takes you to pay it off and then you're like okay well
00:43:52| what if I didn't eat out twice oh it does about 250 a month so they're like holy [ __ ] a useful seven years and now it's seven how is that possible
00:44:05| and so I was really motivated to pay stuff off so I left with about right around 15,000 not bad at all because I had worked I'd started babysitting when I was like 12 my parents were always
00:44:17| really decent gonna cover your whole college yeah I mean I babysat the right kids yes at Applebee's so I for you Applebee's you know you ring and bring some dish
00:44:30| and I'm saying half-price apps oh yeah yeah I got that too 420 like my favorite people are anyone who's been a server yeah yeah sorry no I I agree I think everyone should work in a service
00:44:49| industry at some point in their life whether that's I could never work retail I would murder someone I would straight mmm-hmm I agree oh I can't wait to move about
00:45:06| really unfortunate because well I I moved down here with with my partner at the time and he and I split things and you know with that with the two income households and North Carolina is cheap
00:45:20| that's part of why I chose North Carolina versus I was looking at Boston and Ithaca New York in the San Francisco and you get paid an extra $2,000 you know that the cost of living is like
00:45:32| twice as much all right and also you know like you don't everything is so much harder so I'm there in the sports team in Boston are all racists oh right I agree there's shitty sports teams
00:45:44| there I'm special I said yeah I apologize yes that's why I went to North Carolina actually was funny the year that I came to North Carolina was the year that they
00:45:55| got in trouble for all those paper classes of all the like students I don't know if you guys heard about this so good calm yeah yeah all the all the athletes were taking these classes that
00:46:08| were like their their advisers would push them into it and the class was basically like for a midterm and the final you would just turn in a piece of paper with your
00:46:19| name on it I find here for a night did anyone misspell their name please well the thing was it all came out it all came out because you know the struck in college students so they talked about
00:46:33| it to their friends like it's not like anyone was like whistle blowing actually it was the fact that random as people were ending up in this class containing problem the problem was actually that
00:46:45| they realized they couldn't just give this to randomize people so have these classes know that like this dude would show up turn in a paper get an A or at least a B and the other person be out
00:46:58| there working and they're like why do I have a co this class like I had to like balance randomize the scores what's so bad so bad so that screws their athletes though because then they're uneducated
00:47:15| when they get that injury and they don't have anything to rely on which they care about seventy day care at the time does the college care at the time no I think somebody I think some of the issues were
00:47:26| like the people the students who you know it's the fear was like it was technically you should have put them on academic probation and so for those students that have been for a year and
00:47:37| it was their college coach who was telling them to take these classes you know they're a sophomore and the reason they're able to go there is for scholarship right like most of the
00:47:48| people are not able to pay for that on their own and they're on an academic probation because their coach told them to do something and it's just like ah it was so gross like yeah like college
00:48:01| football and NCAA like NCAA I mean I see the other way too though were someone who's an athlete who's they just dumb as hell but he's really good at sports like he's athletically smart he's a genius
00:48:14| athletically smart ethically like he or she might not be able to do any classes might never be able to do classes but it's so gifted to sport like I wouldn't want to keep them away from the sport
00:48:27| either I wouldn't be like you're not to play sports cuz you're not smart enough like that seems weird to on one hand this isn't it like some sort of classism where it's like we only look at
00:48:38| people smart enough play this brain type of people we want brains right well I mean I think it was was one of the places that really started cracking down on they just suspended four players but
00:48:50| I think it was for steroids years ago when all this was happening that more universities started being like okay no we really you know we can't bring people in for athletics if they really can't
00:49:03| even get well right then you wouldn't bring them in in the first place that would make sense yeah um no I yeah I think and what you were gonna talk about is how much the NCAA makes and really
00:49:15| why why do we bring these people into college if they shouldn't be at college that's why it for their benefit yeah they make 1.1 billion and the strange thing in Texas is that the high school
00:49:27| football coaches they make more than all the teachers like as a high school coach down here you can make over a hundred grand as I doesn't make any sense whatsoever
00:49:37| like what priority are we putting on students to say oh this teacher makes a half of what the football coach makes like is it really that there's no there's no journalism quote that I
00:49:47| learned in college you guys should adhere to i hold follow the money that's it like a little it was just followed by see kind of sleuth no no just I had a teacher he actually
00:50:00| passed away last year John Ross but anyone had him they'd remember him he had a Texas accent not fake a big white beard and he was a one of the big journalism profs
00:50:10| at University of Delaware he like everyone had him if you went to any kind of English journalism classes but he was always like I'll tell you what it is follow the money and I mean like why are
00:50:22| you saying this you sound like follow your nose like the fruit loops guy good follow the money like this is a stupidest thing now every time like there's a story I'm Lenny so
00:50:32| all the money and it ends up being right I mean that's why they push these guys through follow the money because they can make the most money off any question you have just essentially follow the
00:50:42| money so if you're gonna follow any money and you're going to college do you guys know what your starting salary would be on average anyway for your main one
00:50:54| thousand a year not your actual hypothetically pathetic pathetic Li yep what if I'd stayed at bio no as an English major is actually like fifty two so like I don't know how that's from I
00:51:14| think payscale.com yeah mine who talks like yeah just like yeah I think there was a national average for English majors I mean the nevermind but I'm bringing the gluteal Adelphia course
00:51:32| yeah everyone except you guys and like so my my starting salary was lower than the national average based on pay scale it was like 72 which seems reasonable over an interval it's that's pretty good
00:51:49| for um for a microbiologist PhD student I looked that up too it's eighty and eight so you're gonna be rolling in cash eventually yeah I mean the issue right the problem with that
00:52:05| well sure that's really funny because that has to be the like biggest standard deviation ever because it's still your yes watch yeah you search well right you used to go into a postdoc next and a
00:52:23| postdoc is like fifty thousand dollars or if you've managed to go directly in the industry it's like a hundred and ten thousand dollars it's really like you make half as much money with the same
00:52:37| degree doing the same job if you have this promise of maybe being professors or so yeah but I want to go into science education and outreach so who the hell knows when I'm will do what they think
00:52:55| is comfortable I was at the same job for 10 years because I felt like it was the right thing to do I guess I had some loyalty there so like
00:53:02| being in college and spending most of your time as a student it seems like you would progress and be comfortable in that that arena and you would be like continuous like you be a continuous
00:53:13| thing that you would do I can understand people taking less money to be comfortable but not exploring what's out there and it hurts and I can see the hurt on
00:53:23| Nick's face right now as he's realizing no not at all would you go back and change it Nick no no no this is you take out more loans ette to go to school again sure okay look everything I've
00:53:37| done has shaped me to this point do you know that me going to the school the only school I didn't get a scholarship to the only school that whatever and the only major and the people I hung out
00:53:46| with my sister um dated a guy on my hockey team and then eventually they got married they have three kids like if it wasn't me they probably would never meet and like I love my nephews and my my
00:53:59| brother-in-law your a cameo rom-com you're the guy who is the connection and then roles and show up until they role are no their lead role given the speech at the end
00:54:10| yeah the lead role your your sisters or your saying please don't turn down I'm gonna explain it it's it's weird because so you can't look at the so you're leaning on like the serendipity of life
00:54:33| and then like the joy like a percent because honestly what else is there I mean what we're talking about today is all money and it's literally probably the most important thing in our lives
00:54:43| but it isn't and this sounds like I'm talking out my ass a little bit but I literally just saw my one of my favorite people for the first time in like six months
00:54:54| he's um he's about 65 he's african-american he was raised in the ghetto he works at a church now he pulled a gun on his boss one time who was a trash truck he was a trash truck
00:55:09| guy and uh his boss threw him under the bus anyway he was put in jail for two years Oh literally he went to a bar and pulled a gun on his boss and I was like why are
00:55:20| you telling me this he's like I showed that son of a [ __ ] what was for and I was like what did you do that for he's like he was given everyone's overtime but me do this and like I was like
00:55:31| you're crazy dude anyway he learned his lesson he was young then his name's Richard he's one of my favorite people he got mouth cancer um three years ago he's he's
00:55:45| really hard to understand now because like he lost half his jaw but they controlled the cancer and everything and I haven't seen him first for four months six months and every time I do that with
00:55:56| one of my customer friends or whatever like I feel like they could die like I customers and friends who die because I don't see him for six months five months they're older they have issues
00:56:06| this guy had mouth cancer I just saw him today I was giving him DAP so I was doing on the back we were high five and we were talking about some old stuff and then we were talking about the Eagles
00:56:16| for like 15 minutes and I was so happy when I left him I was like yo my man Richards still got it he even made fun of my coworker who replaced me he was like that guy's [ __ ] I hate him
00:56:28| and I think it looks like yeah I do too I've never been happier to see Richard Richard I just found out today his birthdays two days before mine my birthday's next week ah and I was like
00:56:41| yo your birthday's coming up he's like yeah man my birthday's next week we're gonna see I was like oh my birthday's next week too and stuff like that makes me realize
00:56:51| it my man Richard's never gonna make more than the minimum wage in his life working this job like I won't and there's people like that that I come
00:57:02| across that are my favorite people I figured what I was going with the whole thing I don't know you're saying like it's not about money I mean French it is oh yes but it's the
00:57:14| people you come across like the personalities the people you touch and this sounds so stupid because I don't want to end an episode of it like you're not
00:57:21| the money problems of worker but but everyone's happy but I don't know like for that reason alone I don't care that I've been in debt forever here here are my numbers
00:57:31| there's our hit so I pay five hundred and eighty eight dollars a month in a student repayment that's like it's not quite a um that's a car payment it's a it's a car payment it Loess groceries
00:57:45| plus yeah something else I've been paying it since I was 21 I have let's say navient bought some of my loans and Nelnet so I have two companies I stole alone so navient I owe 16300
00:58:02| still one my lens is it five point five eight point five five point five my estimated time of payoff for navient is twelve seventeen to twenty twenty-two very close okay so I'm getting there
00:58:19| okay the other company was Nelnet smaller larger it's larger order all tell it's nineteen thousand three hundred and eighty one left this is left I've been paying since for over ten
00:58:36| years so it's only four percent and I will be finished paid off and I headed on here twenty twenty four ish I wish yeah I think it was twenty twenty two ish so I will be like forty who knows so
00:58:56| this is leaning until I press it you know this is leaning into like the mathematical construct of like deciding like the perfect path in life if you could like just think oh that was
00:59:07| literally the opposite of the perfect pages Oh 100% we tell no one to take my path but I would never return my path does that make sense yeah I have a question for you guys okay so one of the
00:59:21| things that keeps coming up in a whole bunch of places is this idea of universal like basic living income right this idea that you as a society have enough resources and money
00:59:34| to make sure that everyone can a little bit as a human that's that's one thing part of it that comes up is education you know if if we have the means how do we feel about everyone getting free
00:59:48| college what about that idea that's like okay places like Europe your socialist just wondering what you guys think about it I'm a hundred percent down with it I love Pavel in the goddamn same I know
01:00:02| that sounds because I make less than everyone so I mean it make sense I would say that but I do against people me Social Security and stuff like that that should cover people that had like can't
01:00:14| go to college can't do that like they're not gonna be up to snuff so I I do agree that there should be some form of coverage for people when they can't make it in you're gonna get banned from loves
01:00:24| what does uniforms on oh boy they're not here you're a socialist I don't know where the motivation comes from though because a lot of people I'm gonna spin it the other way is that there's a lot
01:00:33| of people that are like ultra motivated to game the system and like just rock it like they're they research a ton they figure out the best path and they do it but they're also kind of robotic in the
01:00:42| way that they do it like there was this one guy that went to college I think he was on like a GI Bill so it covered like any class that he took and then he would go to college and then take
01:00:54| classes from other colleges online so in the first year he like completed like three years of college so he would just like he massively gained the system so that he could just like cough like
01:01:04| quickly get out of college and then he got like three or four degrees when he was done so he could just pick whatever job he wanted so it's like those type of people like breaking the system like
01:01:14| their motivation is exactly that like skipping over the parts that are [ __ ] and then tying it together and just like wrapping in a bow to make their life that much better
01:01:23| was he good at his job does anyone know I don't know so we it's a weirdest thing but what I find college to be and I tell this to the person I live with who's a college administrator all the time is
01:01:37| that I mean college doesn't make you necessarily good at your job at all people say they makes you more well-rounded I would say that like it expands your like your networking skills
01:01:47| like the people you run into are probably more influential if they're from a college anyway I mean being away from your parents learning to live on your own it kind of letting
01:01:56| loose independence those are the reasons why I chose a college and that's not the best reason you pick it but you could game it to dig a because like I only see it as like well-rounded in terms of the
01:02:09| opposite like it's always told just like oh you fill out into these spaces and I think it's actually like you get you get to pick your mirrored edges of like whoa you can't deal with working in groups
01:02:19| well that's too [ __ ] bad Oh your mom wakes you up for class mm that's a bummer it's gonna be really hard for you so all of these edges I think you not fit into society they get like rounded
01:02:30| down so you become a round peg you're just getting tapped into that little round hole yeah I don't know I think yeah I mean I just I I think you you have to look at these two in my opinion
01:02:48| you look at these student loans and it's just very clear that we have allowed huge corporations and people with giant money to just buy our government open country you know and I got nine
01:03:05| companies you bought whole suckers and it's just a question of like okay what's what's our what is our mission as a country is it you know total free market that we want everyone to be able to
01:03:17| pursue whatever they want which is a nice idea if we all started at the same point we don't know and it's just like well this this is a power scheme in that separation between the haves and the
01:03:30| have-nots keeps getting bigger even though we have the resources to really make the world better and we have the resources to thank you there's so much digital education out there you can make
01:03:40| college a lot cheaper and just as effective but people would lose their jobs and that's scary because we don't have you could make make online online Lord ever learned does and read it it in
01:03:54| I T do know everyone does an IT video in reading ninety no no even better when they run into a problem we got an error message on the server can you guys fix us they Google it every
01:04:06| single one of them there's not one person who doesn't they're like yeah hold on we'll work on it and they just google it and they figure it out and then they figure it
01:04:13| out I mean we're becoming a higher-grade but I mean that's to be fair that's like most of my job to everybody what I'm getting at is it's kind of everyone's job you don't go to college go for
01:04:28| accounting let's say I want to be an accountant and then you get a degree and then you apply for a job at HH briggs that row knows who h h Briggs is right I made them up it just sounds like a
01:04:38| famous place but that's fine so no matter who you are it could be me who has a fake resume it could be someone with a bio major resume give me someone English major resume disgusting if HH
01:04:51| Briggs hires you and they bring you in on the first date guess what they do they train you and tell you what they want you to do right because they don't just say here's your paperwork just fill
01:05:00| it out I mean you did a cowling and glue it has a system everyone has rules everyone has an order they do things like a company so what happens is most people can do most jobs I mean the
01:05:13| degrees kind of [ __ ] the decree helps you get there the green rounds you it gives you familiarity with the product but there's nothing to say that I couldn't get a job at any profess
01:05:26| oriole I say that right I don't even know what you go over Tanner go over tenure I could go for tenor to fill in for someone you throw all the questions right on to tenor no really
01:05:37| maybe like this guy got it and I really go home by the way it wasn't really made well you can't have it like I feel like she faked a resume an accountant in anywhere exactly and I think I would be
01:05:49| okay and then eventually they tell you what to do anyway it's not like I would be like well I'm gonna change the way this company does taxes and change everything do you really mean I do you
01:06:02| think it's a bad experience I think it's it's interesting cuz 100 percent the academic stuff I think about you know the classes I've taken what do I actually get out of it it's truly what
01:06:12| I've found out of it is the ability to speed read that is a you know that you don't get without experience right the ability to write convincingly and accurately that's some
01:06:23| of those things you can't this week like I agreed you can go in and like spit out the facts but the truth is is that those are the facts that they actually give you in college right like that's
01:06:33| unfortunately the focus of of high school and college in so many ways is is to do these facts where really you could even get experience in school that was you know if you're doing accounting it
01:06:47| doesn't need to be memorizing laws it could just be okay we're gonna give you practice sets and you know some at some point these are gonna be real sets of data um like you were saying at the
01:06:58| start nick of well let's have the counselor class actually do something you know you don't go problem with chemistry classes is they have you make cool things if everyone just actually
01:07:07| got to make a starting product that was gonna be used in an actual chemistry lab mm-hmm be way better so I don't I just see these these systems that are so in place I mean most of the way that we do
01:07:21| at education was set up in the very start of the 1900s and based on stuff that has been around since the eighteen hundred's but before that this didn't exist this isn't how people learn I
01:07:34| really think that you know with the digital age where students no longer have to get everything in one spot you don't have to go to the University of Iowa so you can get the best English and
01:07:46| Spanish and microbiology you can go to the one place it's like a trade school for microbiology and then you can take those extra classes online and hopefully you can focus on what you're gonna be
01:07:59| doing you know I think the trade school model is awesome and I wish that it expanded out past you know technical assistance and things like that because so many people don't want to be the CEO
01:08:12| the professor they just want a good [ __ ] job and not to be stuck with student loans until they're 55 42 whatever I'm not gonna wet I don't know oh that was really good
01:08:27| that was real and what it told me is this listen we can all do any job we can all go to any college we can all in crew any debt we can all have any amount of money we don't make and do make and
01:08:38| everyone makes the same amount of money we are a socialist podcast boom stamp it and can you say it say I love socialism just say can you put a little Russian flag in the corner oh go for it
01:08:52| I just finished all my beef jerky I'll share it with everyone I have my beef jerky Wow that's expensive no is 2 for 10 i meant for this roller
01:09:04| hey everyone 1 for 450 that's 2 for dinner I let everyone else share it upstair if I didn't just open this fresh for the episode if I hate $5 what sweet you're eating he's yeah stop eating like
01:09:29| he did this episode to go in it oh my gosh and then he he passed out live on camera no too drunk for an episode this only happened once and it was two episodes ago and I because it
01:09:42| took him an hour and figure out how to do so you know I don't doesn't matter this is a good way to wrap up the college section like really really why we all have student loans it's so much
01:09:55| money on alcohol I spent so much money on alcohol and it's really difficult to spend a lot of money on alcohol as a woman I have no idea what would have happened if I was a dude in college I
01:10:06| would have had twice as much to close pay for the alcohol that we are providing at parties that's that's the trick otherwise you guys do this we like women like people always like how you
01:10:21| get free drinks really free right and why would yes and why would you base the entire night on free drinks you could get a free drink any or two but then like when does this thing you don't want
01:10:37| to have a drink but it's a gamble and it's sort of like every 15 times you do it you're gonna have to have a weird altercation and hope your friend is there even think
01:10:48| about the repercussions of getting a free drink sometimes it's not worth it probably know almost never know so you have to do it's it's really interesting so you can only stay at the bar for like
01:10:57| another 30 minutes because then otherwise they'll come get you and be like no another another one oh yeah yeah they'll follow you out of the bar before you to the next I want their repayment
01:11:12| plan you know what's really cool to you from other guys trying to creep on you even though they're creeping ah this is crazy no I'm I'm guessing in my college days I was a creep I was at this I was
01:11:25| that the most the stories I hear I wasn't a creep because like I never got girls like I was always like I tried to find everything always like angry is never getting women like I never pursued
01:11:37| them like beyond like hey what's up and then if they didn't they weren't like interested in me I was always like [ __ ] I hate you like it was myself because I wouldn't I would never pursue it further
01:11:48| and be like hey I'll get you another drink like I didn't put it in your hand and you're like I didn't want this it's like weird
01:11:59| oh yeah I remember right these are bars where there are a hundred people in there and over certain age that are scary right like so that's the thing is that a lot of dudes I'd tell them to
01:12:14| they're like oh I would never do that like to pay no but the problem is is that there for all of you there's like every 500 of you there's one horrible person right and you don't know you know
01:12:27| so I was happy to pay for as much alcohol as I could and I truly think that that was a very large chunk University of Delaware I'm talking this much sales tax like boom zero you know
01:12:42| what make me money it might have saved me yeah unless I honey if you bought it warm it was a dollar cheaper we would where did you buy this room we would buy a warm 30 rack of Keystone light for
01:12:58| $9.99 light huh walk it back to my house did you get the orange can I did get one of them and I'm not even gonna talk about that night and we would open the watch Flyers games oh my god listen
01:13:15| that's gross like we didn't spend the extra dollar on a refrigerated case but we also didn't wait to refrigerate the dollar less case why don't you just like at least each
01:13:26| take one of them put the rest in the fridge because we would just sit it in the living room floor and watch a game even start cracking them there's something you spend that much my
01:13:36| suspense I sound weird because this rolls back into jobs you make friends that way there's something to be enjoyed about unenjoyable things like sharing misery at warm 30 robbing somebody as
01:13:49| long as you can't pay it off yeah that's one of my favorite thirty rex things that i think about like he sound like warm watching a Flyers game when been eager destroyed that guy krahgg over the
01:13:59| board's I still remember that like the job I hate mail my favorite thing is complaining about everyone and being like the customer you hear when I had a customer here oh my god let me tell ya
01:14:08| you enjoy so much from the things you don't enjoy maybe everything evens out and so that when you really enjoy something that's all there is to it but when you really hate something there's
01:14:22| like gossip you can do about it there's like backstories you can do about it there's like shared misery you can do about it I don't know I have no idea folks hmm I enjoy the student loan debt
01:14:35| ah I love it Sallie Mae hey Sally suck me thanks for your list oaks worthy on panners is a Susanna al Harris you can check her at whatever our socials are yeah
01:14:58| yes it's down below there below me got it folks Sallie Mae below me and do the little recap is that the recap I think it was all student loans like every section we talk about snowballing yep we
01:15:23| covered most of them raw doggin as in war being raw dogged by the nine companies mentioned here we talked about blinking farts out butts they talked about politicians we talked about how
01:15:40| Republican back Senate or the Howard Stern of science oh my god I am Otto deducting payments from your paycheck your student loans garnishment is that was that let's call this
01:15:51| garnishment loans grants for financial aid who knows the difference I mean is that free money or is it not right seventy percent of students have did you just double joint your entire arms are
01:16:03| you freaked me out for a second uh seventy percent of graduates have debt oh my god everyone at home listen to us don't pay it so if I don't pay it you'll be fine the government can't can't honor
01:16:17| it of everyone it's gonna be there forever don't worry about it we just go in it's fine yeah just how you talk about we talk to college could you be like I'm a
01:16:30| company now I'm gonna send LLC everyone in bankruptcy just be like Oh doll that company huh no longer exists he's right there he's got an annoyance let's take it from him already got it we got
01:16:49| another one electoral property kick it down we got a four four seven we're gonna take this [ __ ] down anyway folks thanks for joining us thank you thanks for tuning in thanks for
01:17:01| listening if you have anything you want to put in the comment section about my hair it's because I didn't champ ooh or gel it today it's just natural where is there a street wait do you not
01:17:13| know about that I wasn't there for that it's his feather he did the feather eyes and he kept it open but I have a birthmark or a feather I was touched by a ghost at age 13 and I have a gray spot
01:17:26| it's right here the hole is when my hair grows at least I think you know well my hair doesn't grow I will go gray before I go bald thank
01:17:32| you hmm and before your talk with your student loans well before I'm done with my student loans thank you thanks for joining us check our socials
01:17:44| donate to our patreon I'm not going to use it to pay my student loans and thanks check everyone socials check everyone's everything check everything's check everything check everything check
01:17:55| it check it Thanks thank you
00:00:17| uh-oh it's a boatload of money involved do you know any of this no who cares let's just go to college let's talk about student loan debt and how it's gonna ruin your life
00:00:34| so I'm Dan and I'm Nick bows for old friends dissecting one topic at a time people technology media we've got it all covered each discussion here is a deep dive in or unique perspective the tab is
00:00:49| business subjects they're all on the chopping block baby we don't pander to popular opinion you might get a little bit dirty morning this podcast may contain mature language and sexual
00:01:01| content and it's for entertainment purposes only so join us have a good time so there's Nick oh wow oh and there's another how crazy is that she showed up she's just an invitation to
00:01:36| your right so then how did I forget that well welcome hey Suzanne Harris of to the L Harris Fame Twitter hugely popular founds hunger in circles it's like 10 o'clock
00:01:56| at night over here so I was able to book you in thank you gosh live right Andy very lucky mm-hmm the frame of the sheets well we're glad to have you and I'm glad to have Dan over there because
00:02:08| today I think it's finally time we take the gloves off folks it's all about student loans a loan company guess what had sex with your mom a student loan company guess what I'm
00:02:21| not paying another friggin dime quote me okay I made like 300 straight payments I'm out how do five thousand so with the rest of America and most of the Millennials I've
00:02:35| been reading about we're not paying any more I was over we solve the debt crisis I don't know if you're honest or not whether you actually pay them off finally they did not pay them off it's
00:02:49| ridiculous how much longer only 33 I actually have my paperwork with me I printed it for everybody we can have a laugh later okay we're out there yet you'll run through the process of the
00:02:59| beginning of of the loan yeah just real sorry I just wanted to put out the big statement because it's been in the news a lot lately forty-four point seven million borrowers
00:03:09| yeah so it's a pretty big number but not like everybody in the world right or in the United States a collective debt one point five children one point five six trillion is not a lot yeah to forget a
00:03:26| lot but that's enough to build a wall around the entire country all right so how does student debt happen like wow I even have student debt Dan I know you wanted to jump in there and just say
00:03:41| let's start from the beginning sure I don't you so you're in high school and there are career paths I guess there are paths that cost money more money than others like you can go
00:03:52| to trade school or you know just start working most people with the American dream they go off and go to college they pick a major and they decide if that's what they want to do for I don't know
00:04:04| for the rest of their life but for the foreseeable future until they pay their loans off because it should be a good wise choice that pays off in the end should so I chose a major that was based
00:04:17| on just creating stuff so I became an engineer but that was the only reason that I ever went to college that was the only thing only thought in my head so for Nick who I chose biology cuz I
00:04:31| was really good at it you started on Maya yeah I was my husband for a year and a half I was straight beads baby don't put your chair for Channel but it really was boring and tedious and I want
00:04:44| to do it for the rest of my life hydration reports made me want to throw up just sitting in labs when it was like I know the result its endothermic and we'd be like well you're the goggles
00:04:54| here's this here's the material you got to check out the material list we got to do this we got to check them out you're gonna have your partner you're gonna check out your goggles make sure this is
00:05:02| here we're gonna fill out the report before hand you're gonna weigh them you're gonna weigh them after the fact and oftentimes it didn't add up exactly the way you wanted it to and they were
00:05:10| like just sludge the numbers you know what it was end of you know and you're like okay that's this is great and then it'd be like write a report has to have this in the what do they call it they
00:05:18| break it down like a thesis production introduction yeah oh my god it was the worst writing I've ever seen in my life procedurally so bad yeah there's a whole whole slew mmm so I switch to something
00:05:34| that would make me a little more money journalism English gonna be a newspaper writer next year yeah yeah yeah so we have our ironically more I did I dude I love literature I love reading I
00:05:50| love breaking down film I love breaking down themes I love like higher level thought it's just the applications in the real world he's a real good thinker white good thinker there's nothing that
00:06:05| he thinks outside the box was he do well he thinks outside the box what does he do I see his resume outside the box there's nothing on it why is there there's nothing on it it's outside the
00:06:17| box yes it is it's anyway no I switched to English I did pay the same for it and still paying for it so Suzanna why did you pick microbio or
00:06:31| did you start with that I did I did I'm like one of the weird people that I loves lab reports no no everyone hates it that's what's so funny you're like oh I hated endothermic
00:06:45| reaction I was like yeah me [ __ ] me too like no one likes that no biologist likes that point yeah those would be chemists but chemistry I really did hate industry I was terrible I'm terrible at
00:06:59| chemistry is bad I can't really good at biochemistry because it like has an application you see it and it's not just like random shapes and they're like well technically that J that way it's more of
00:07:13| like if the shape is like the wrong way then all the babies die and you're like meat okay that's my head no an application that's yeah I know that now um yeah that was a tangent um so no I my
00:07:31| junior year of high school I was taking an AP bio class and we had like two days on microbiology was about bacteria and viruses and I just saw like that is a cool [ __ ] I've ever seen
00:07:42| I just wanna I want to get to learn about that and so I chose a school I was really pissed about my school to be honest which is where I'm wearing it now property of Iowa says yeah okay oh yeah
00:08:02| I have to use it cuz I just don't get to wear it out in public very often anyone I know haters gonna hate from the Muppets anyone under 30 doesn't know these yeah yeah so I chose I actually
00:08:19| chose the University of Iowa because I wanted to have a program that had a good microbiology program a decent study abroad program and that I could like partially pay for my family helped me
00:08:33| pay for half of my college but I was able to pay for things out of things like fellowships or scholarships but they said whatever your whatever you go to college for you got to be able to pay
00:08:43| for it somehow and or half and so yeah I wanted to go to a bunch of different colleges and when up happening is that the best college in terms of just the the science
00:08:57| and the Spanish was University of Iowa which was two hours away from where I lived and I desperately wanted to leave Iowa but you know I I didn't I decided to stay there and I loved it like it was
00:09:08| it was two hours away two and a half hours away from home I heard from that's plenty your your away unless you have a true helicopter parent you're gone you don't need to
00:09:18| come back and yeah it was really great but I was really glad because at the time University of Iowa I think our our tuition was only about seven thousand a year nice yeah so it was fine and able
00:09:33| decision at state school yeah it's a super public school people come out of state from Illinois because it's cheaper to be out-of-state interests
00:09:46| yeah so yeah so in-state but then my brother you know we obviously grew up in the same house he went to a private college in Iowa just because he would get a soccer scholarship but money much
00:10:02| more student loans but he also he's also just got permission whenever he's getting his CPA license and so he has like a real job and he's gonna be just fine we don't even worry about him so
00:10:15| financially aware I don't think I was I knew the amount I think my school was like $26,000 but they gave me a scholarship for like eight and then I had like financial aid some portion of
00:10:29| that and my parents promised to pay all of it until a certain point where they said nah we're not gonna do that anymore here you go and I was like wow that's great thanks so they gave me the
00:10:42| remainder of the loans at the end which wasn't where they dude signed for it and then make you sign for it well I think as a student I don't know that I don't know that I signed for it but I must
00:10:55| have like I think they were in my name but they guys signed which right is the normal path I think most people do that they take a loan out for themselves or they have their parents co-signs up a
00:11:04| cosigner for it or there's a third option where I think they're like called PLUS loans where like your parent plus loan can be your parent paying for it but with a loan so
00:11:13| that like your name isn't attached to it but there's consequences that they can give the loan back to you at a certain point like force it on your name which is kind of weird yeah it's also weird
00:11:26| for a 17 year old or 18 year old to take on like that decision 60 yeah like $60,000 I mean it's how much was yours per year Nick 18 or 20 or something and then did you get a
00:11:39| scholarship no I went to University of Delaware his only school he didn't get a scholarship to because I thought it was the prettiest school oh it was it's the most beautiful campus of I've ever been
00:11:50| to and I knew that if I bought items there I wouldn't have to pay sales tax so saved a lot of money yeah and in the end it worked out so my parents helped pay for my first semester and then the
00:12:05| rest was on me so I think was it maybe it was was it 15 grand a semester I don't know all the numbers start running together a year I was out of state as well 15 grand a year started at 15 in
00:12:18| grand a year that makes more sense what do you well we what did you have when you ended see like that's the crazy thing is that's the most money we spent and we have no idea we're unsure you
00:12:27| would think that like I know exactly how much my car cost so there's a fraction of the other which the other funny thing is by the time I got to junior year I just took out more money than classes
00:12:37| were because I needed rent because I was living off-campus so I took out just extra money cuz I was like you need it for meal plan this and I did work but it wouldn't have covered housing etc and I
00:12:48| actually found no I printed my my um my loans excitingly enough it was up since we're I'm depressed you look sad and mad it's making me happy I was trying to go you guys are
00:13:02| getting really happy that's fine I hear you shuffling papers like you're reading like like numbers on it how are like I don't know like what interest means you don't know how it accrues it's
00:13:18| compounding like you don't interest check out that girl over there I'm interested buddy haha it's 8.5% are you sure you're aware I just flicked down my shades I was like
00:13:29| sign me up I'm 18 like I thought it was pretty cool at the time but interest is not that cool the piece that I did not realize and I
00:13:38| don't even know I don't know I mean I know how we didn't realize there's there's no way to understand what the hell is going right you can at that age anyway but but I had I had parents
00:13:49| looking into it like I think this is your best option and I got to I got to my sir my senior year because I had to take out loans and I was like wait I have money in savings why do I have like
00:14:03| eight thousand dollars in savings and I'm taking I took out loans the first year and it turned out like we had for some reason been like oh we better if you have a cushion in case anything
00:14:12| happens which I get bad it's nothing smooth kind of but what an up happening is like I you know I wasn't on financial aid so I was on a six point eight percent interest that started as soon as
00:14:26| I got the loan oh I don't realize it's mostly not deferred yeah yeah cruise was cool yeah so but it was funny like my last it was because it was a double whammy oh just like pissed me off
00:14:40| um so I had for the first three years like that was the standard rate was 6.8% the year my senior year the year that I didn't have to take out loans cuz I was like well I'm gonna use this savings
00:14:54| money because that's interest-free essentially that was the year when Obama had the switchover to everything being like two point four or four point six exactly how lucky for those other
00:15:10| students they loved them there's an interesting like period between when Nick and I went to college and when you went to college that the interest rates were like you know freewheeling and they
00:15:22| were up into like the six or seven percent before we went to college and like to 2005 for range you could get loans for like two or three percent so the people were getting this fantastic
00:15:32| deal where they still carry the there are something like 20% of school loan holders are actually above the age of 50 I saw that that's crazy an absurd amount of money and like they keep that
00:15:44| because either they're paid for their kids or their loan riots aren't worthwhile to pay off because you can get more money in the stock market that's that's that's so out of my league
00:15:57| yeah by the money to pay my bills and then I was like on top of that I won't because I can invest it good I mean that's essentially know why people like take out a mortgage but then you know
00:16:10| don't pays off early yeah hmm it was like the I think it caught like a dead waterfall like if you have multiple credit cards that have high interest rates and they're like the interest
00:16:21| rates drop off you want to pay off the highest interest rate first right well that that's isn't that called the snowball to like you couldn't think you could snowball if you want to just need
00:16:39| to pay off my debt man I gotta spit it back into your mouth there's an open everybody's desk table right now yeah live it works so that's what we should call the campaign to get rid of the
00:16:56| student debt of like you know what those snowballs did you know Sallie Mae got sued and that's why they're say divided or whatever they got ya Washington state government and the federal government
00:17:09| sued them because their practices were what's the word for deceiving and Malaya would take the shortest route to not alert people that their stuff was due and then called them delinquent and then
00:17:22| collect extra money on it ha hmm they were also the originals to selling your phone number out to tell marketers which wasn't legal at the time oh they got sued up their butthole but that
00:17:32| doesn't affect like they didn't give the money to anybody I think that he's got in trouble slap them on the wrist and then they um sold off the student loan portion other thing to are they navient
00:17:43| uh ha they are yeah with her I was like now I have no idea what yeah it's like who [ __ ] you my money how much did I pay yeah that's how I feel I'm always like what take it God
00:17:55| please take it mmm yeah always the security questions on there like we have to make sure to see I'm like I don't give a [ __ ] I'm always like please open-door policy will pay for it go work
00:18:08| thank you don't care you drag on any so we're gonna talk about the different types of loans ah this guy did some research so there's well hey I guess you can go
00:18:19| and get a full scholarship bedroom mmm and that's one way of saving money like grant money that might not be available people as a key game the system by not being us hey I'm not gonna say the
00:18:37| commonality between all of us so there's also federal loans and they break down to like subsidized unsubsidized so like a subsidized loan is subsidized by the government the
00:18:49| government actually takes care of the interest while you're going to school so those loans don't accrue while you're going to school so an onsen that makes sense yeah and unsubsidized will this is
00:18:59| what interests me so the government is paying off the interest while you're in school I don't know if it's like or the government just has a deal with them where they're like just we're not
00:19:07| charging them the easiest way to describe it is that they pay for pay the interest it's interesting you say that just because the only research I did that brought me to here is that um
00:19:17| there's nine companies that bid to be able to hold student loans did you know this hmm it's not just anyone can have student loans there are nine companies they all bid for this they all sucked
00:19:28| off politicians sucked off somebody in government and sucked off somebody else's butthole anyway there are nine companies I'm gonna name them they're all good people
00:19:36| anyway they probably sucked off a lot of people on the way there cornerstone pH EAA Granite State Great Lakes hESC and financial mohe la navi n't Nelnet and os la servicing servicing buttholes around
00:19:50| you anyway they're great folks everyone who works there if they all suddenly got some kind of weird disease we feel terrible powerful indeed would awful but but it
00:20:05| strikes me as weird that you can bid for it and then get to collect money off of people who are seventeen who are signing up for sixty thousand dollars and don't really know what they're getting into
00:20:17| happen baby I don't know that kind of brings up the question too of like when when do you have financial freedom when when are we deciding that people can make these
00:20:27| decisions if it's a federal loan it's a good sweater you come of age you can get a federal loan for schooling before you're 18 or 17 or 16 yeah which is bizarre right cuz even at high school
00:20:38| they don't teach you finance they don't teach you the stuff that's gonna cost you the most money for the first no not at all ten or twenty or thirty years your life no no and like
00:20:49| they don't know I mean I I went into the financial office at one point cuz I think something was wrong with my password or something and they were basically like which form do you need
00:21:00| and I was like I don't know I'm here because you should no no no anything like I've got loads like yeah you got to deal with that through it was telling me at the time it's like what are you doing
00:21:14| we like money we like money just send checks well they're just workers they just literally get take me the minimum wage to just answer question XY and Z they don't really know I don't think
00:21:26| yeah I don't think yeah I don't know I mean I can't tell you the biggest you know one of the big issues is that costs of education are going through the roof right like rent and cost of education
00:21:39| going crazy right through the roof yep dony rates on that um I don't I do have rates somebody said it was between like an 8% gain like over inflation and like at certain points it was like a 26% gain
00:21:56| so every two or three years I honestly three to four years is to cover my ass that like the amount of money would would double so like hold the cost of education compared to like the people
00:22:08| who went ten years before us or 20 years before us it's like they could have worked part-time job and paid for college while they were going to college for us it's
00:22:16| like you have to have like some sort of magical job that pays you in the off hours that will cover for date wait what let me get to averages here because I think the average was like 26,000 for
00:22:26| like public university yeah it was actually twenty five five twenty five five and the private one he was like thirty one thirty two or three I didn't have that it at the private number net
00:22:38| per oh that's good it's like that amount of money a year is impossible to earn and in my opinion unless you get like a fantastic job or your daddy has a business exactly I can cover your daddy
00:22:50| that's like a lot of things here there's like people have daddies yeah if you have daddy can meet many things its own wants to be my daddy I have an application down here
00:22:59| but speaking of applications did you know the government has been pushing through this uh student loan forgiveness stuff it's shown up everywhere in student loan forgiveness is happening as
00:23:09| we speak every one student loans are being forgiven in fact civil servant civil servants student loan forgiveness they just put in applications last year you're a civil servant servant you gots
00:23:22| to outstanding student loans some twisting my tongue here they will forgive you they received forty nine thousand six hundred and sixty three applicants last year they approved 423
00:23:35| it's fantastic to be forgiven do you know why is that less than one it is 1% oh my god I know I'm one percent well some of them said the applications weren't filled out properly some of them
00:23:48| didn't didn't pan out some of them were what did you ever reason have this exact reason I was listen to somebody oh please do yeah and they said that this is a new thing so like if you were to
00:23:58| apply you needed like ten years of experience showing that you were a public servant and since the program didn't exist ten years ago there's no way that you'd know what to do in order
00:24:08| to like achieve what they were asking so like this form that you fill out wasn't didn't exist so like he was saying that this is the first year that people could have possibly claimed it and that no one
00:24:19| knew what the hell is going on it's awesome fantastic little program when a plan comes together mmm so I think that was like ICR which was a income conditional that doesn't
00:24:33| sound right it was like based on what your job was so you can do like public servant you can do things that are for nonprofits in order to say that my my loan should be
00:24:44| forgiven should be wiped off the record because I didn't something Noble or honorable or wherever you want to call it we're the UM default rate right now that only covers federal loans though as
00:24:56| Nick and I found out today private loans do dams like ah you could probably get waved away yeah it's gone no worries no one's no one's been forgiven it's just more [ __ ] so that
00:25:09| they can appease the masses like yeah we're forgiving them we're forgiving them just keep paying something interesting for y'all is that um they're blaming Millennials but it's just
00:25:18| everyone coming out of college now who's starting to pay their loans the default rate right now for people who haven't paid in ninety plus days their student loans is eleven point four percent
00:25:29| hmm it's pretty high number I thought yeah they're just not paying they're like mmm effort so that's one thing you can't take my friend so I didn't know my buddy and my new work he goes I didn't
00:25:44| even know he went to college he's like and they started asking about me and I was like who he's like student loan people called my work now they're garnish my wages again yet but
00:25:57| ironically enough they can only take up to ten percent of his um gross I think yeah that's called math house IVR it's like income based repayment so like you can make it so that if it is a federal
00:26:11| loan that you can only you only have to pay 10% so there are tricks around like navigating it I think Suzanne is trying to figure out how to dissolve her debt right now she's
00:26:21| thinking about yeah you know one of the biggest reasons that I didn't realize how they give an issue this was I was looking for some stats that we did we do it before the episode I don't know if
00:26:33| your idea I mean your daughter that's before the episode started when I was like loans but okay okay but no no the biggest the biggest change because people look at know why is it why is it
00:26:51| becoming more expensive you know is it just installation like you were saying it's it's not at all tied to inflation it's tied to how many administrators were adding into the university systems
00:27:04| so you look at professorships faculty relative to how they used to be it used to be that faculty who made up like full-time faculty were the majority of a university system and now there's a lot
00:27:20| more part-time faculty and a ton more administrators and you know there's a couple there's a couple things with that and this was there was a really interesting podcast recently on a hidden
00:27:33| brain that was just called useless jobs and they're talking about these positions that basically hire up people in universities would they would come in and as part of their package they would
00:27:46| get an assistant and so you know if you've got a higher level job you get two assistants and then they kind of had to come up with jobs for these people and then once there were jobs for these
00:27:54| people they had to find replacements for those people when they left so you suddenly have yeah you suddenly have people who are recording meeting minutes and then meeting about the meeting
00:28:07| minutes to try to understand how to lower the meeting minute number per output you know and you know universities autumn the country are trying to cut down on cost by getting
00:28:19| rid of faculty because you know per person they do have the higher the higher paycheck in general right you know a faculty member is gonna making eighty ninety thousand dollars to start
00:28:32| out with not to mention free tuition for a nephew her grandson her relative or godson her next-door neighbor's kid who they put in her name someone also has to pick up the slack of those free tuitions
00:28:43| right so I did a I did a little look at like Harvard I also like Harvard's tuition is yeah it might have saved you some money um so there they have been endowment so
00:28:58| like most of the colleges have an endowment Harvard is the largest they have 38 billion dollars invested so that they could reap the interest so that that covers operating costs like
00:29:09| operating costs at Harvard are four point seven billion dollars per year it's ridiculous amount and the point I'm making here is that tuition for bachelor's and master's degrees for all
00:29:23| of their all of those people paying to actually go to that school is only like operating cost it's like a really small fraction it's really it's strange and I don't I don't really comprehend how it
00:29:37| could be four point seven billion dollars to run a school over a year this was gonna sound weird I am live with someone who's a a college track administrative person who hires people I
00:29:50| don't know what that means like she's I didn't want to give her a position away totally but um she accepts people or rejects people she's a rejecter yeah she's rejecting little
00:30:03| multiple times yes okay but cash and she's always talking about she's always talking about um the school and the board and the president and everything and when she talks about her work it
00:30:17| very very very much bores me a little bit sounds like just another business that's selling shoes or something and this is like the higher up in that the offices and everything and also that
00:30:31| they argue about the stupidest stuff and they had IT problems and they're switching over to a new infrastructure and they have to hire this guy and there's another thing and then there's
00:30:38| parking issues over in the third street and now we have to have all the students park over here on third and I'm like nothing that you talk about sounds like it's student based at all it just sounds
00:30:49| like business stuff boring business stuff to the point where they're like we're thinking of hiring a new photographer who does our brochures I'm like who
00:30:57| cares but what you kind of mentioned is that all these costs are more like nodding a small city where it's more yeah it's it's running a small city is what it is and the cost for hiring
00:31:11| janitors and groundskeepers of photographers and someone who does the CAD Department someone who mails these stupid acceptance letters that you get and someone who designs the stupid
00:31:20| acceptance letters you get and someone who designs the stuff inside the building and who decides what gets written on their shirts and what their new slogan is gonna be next year and
00:31:29| they meet 14 times to decide this and I hear it and I'm like this is the stupidest thing in the world but that's probably part of the cost I assume I don't know where I was going with that
00:31:42| but it bit tight in the way you guys said and it's really run lines more first hand you guys google it mine's first hand so Mike I'm competing I'm just saying anecdotes eat it mm-hmm yeah
00:31:58| that was part of like the running of a small city like they allowed colleges to be small cities which is kind of strange they do they have different laws actually then they have their own police
00:32:07| force a lot of them like mine did we have the University of Delaware cops versus newer cops there were different different forces there were different rules there were different um yeah
00:32:17| that's that's bizarre when you think about it I've you're heard of like the discount tuition rate you know the whole lawn do you know about tuition resetting I don't know if that is either okay so I
00:32:31| heard this from somebody done in college I know okay do they do something called every four years of college will start advertising this and start talking about it and sending commercials and stuff
00:32:41| about this but they reset the tuition meaning they reset it back a couple years when they do this they actually reset the number back a little bit and then they have to cut off who they give
00:32:51| scholarships to some of the scholarship funding and then they do something else real shady and I was like is that legal and they're like yeah it's just it's like business it's like working at
00:33:01| Kohl's they're like hey we got a new rack we're rolling back prices when everything's marked up 80% and then they mark it down 30% like I don't know if what I'm saying me so this
00:33:13| is exactly what I was gonna talk about actually I got good the discount tuition is like the tuition that they say like you know half off like this is a this is a great deal like they inflate the rate
00:33:26| that they give people they say like my school costs forty five grand but we'll give you a scholarship for ten grand but like little do do people know that like the discount rate for colleges that the
00:33:37| averages is like fifty percent of people get a scholarship it sounds like the actual normal rate of a college is probably like 35 K instead of 45 K right so part of that is like it's also a
00:33:50| [ __ ] tactic because people get suckered into thinking that they save money by getting a scholarship and then when you show up and half the people get a scholarship based on their academics
00:34:00| when they get in a class that is tested and adjusted to the curve so like pitting you against your classmates you like the odds of shaking out the people who are lower than like half the average
00:34:14| you essentially get to eliminate half your scholarships because your curve adjusting you're half your population half those people lose the scholarship and then end up paying the full amount
00:34:22| so that's a trickery yeah trickery so the sabotage yeah like you know when you go to j.crew or in a banana the word sale painted on the window right you know that's not a sale
00:34:40| that's not how shows work but it's you know it's basic human psychology that you know they've done plenty of stuff where you don't want to buy there's a place in town that does this I'm like
00:34:53| does do people really not realize this but they'll say like buy six biscuits for this price by 12 biscuits for this price and it's like the same twelve do the quality in more quantity but yeah if
00:35:15| you see something it's half offer if you get someone who says you know this usually cost 45042 $45,000 and we're gonna give you ten that actually feels a lot better than a $10,000 and and also
00:35:30| you're going to the school that cost forty five thousand dollars right like yeah that's way better than the school it cost seven I'm really sorry he's got something to say about me I
00:35:39| know it no no about you it's not very dessert at my old job gonna be about me we had little bars of soap like we would sell soap just little bars of soap 30 cents 30 cents a bar and I wrote on the
00:35:53| display like we would put the soap out here Oh initiative right here initiative for a dollar my dad was so mad at me he eventually made me take it funniest joke in the world and and and every now and
00:36:12| then some be like that's not a deal I'll be like again three it's just it just cracked me up on the inside maybe that's it yeah but that's what sales are you ever buy it though they they're like oh
00:36:28| no I threw the dollar anyway that's a deal right there oh yeah let's go so the whole scheme of doing this doesn't make sense to like try to put this on like a 17 year old to
00:36:42| try to figure it out and it's kind of the biggest decision of their life really because they're trying to look for a major that's what it is covers their future cost of living and most
00:36:51| people during us yeah I think we didn't make the decisions based on how much money we would get or the return on investment if you were to look at it our ally ROI folks how that's a tough ROI
00:37:03| yeah ROI sir no that's all I had no there's no it's a tough choice I mean I think it took until I actually had to pay it off for me to realize like how much I had wasted
00:37:16| on a college education kind of how long did it take you to pay yourself and like if you don't let me ask him like how much did your parents end up covering half a third my college 80% my college
00:37:26| is weird cuz we just five years and then we worked one year of that and it was split throughout the college so I was making money which is why I think my parents were getting pissed
00:37:34| off at cuz I was making 16 bucks an hour and so I'm like 32k a year but it was split up a like semesters so at the end of it I had like maybe a K in the bank and then when I started my first job
00:37:46| they gave me a relocation bonus which covered like the twelve or 10k that I had for student loans and it was a small amount so I just knocked it out right away so I didn't really have a student
00:37:58| loan a high interest rate okay I mean you paid for it but with whatever you had made so kind of yeah he's zero side aimed it yeah I didn't leave with like $100,000 worth of debt which I know
00:38:09| some people who did and then they had hard time finding jobs while the interest accrued and paying it off is like brutal it's ultra brutal watch us I got this one down pat Susanna
00:38:21| um cuz it's the opposite my visual yeah you can you accrue a large amount of money going for this PhD etc etc mm-hmm without giving us a specific numbers if you don't want no no no I get paid damn
00:38:38| money yeah once you get in the higher degrees there doesn't cost you anything Cheers yeah in in humanities a lot of times you pay or if you're getting a
00:38:49| master's MA but if you're gonna PhD and the reason for this this actually makes sense because at first I was like this can't be possible it's because the majority of the money that comes into a
00:39:03| school is not tuition if it's only tuition they'd be running at a loss if they just had to if they just took in tuition and then paid for the building cost associated with teaching students
00:39:13| they would operate at a loss even with the crazy prices the majority of money come from endowments from donations but most big ro1 universities they are coming from
00:39:27| research money and so the people doing the research the people who provide the data to get grants are us so this we define thing is that it's rescued stopped going if grad
00:39:41| students stopped doing anything and that's what happened actually at the University of North Carolina this last semester with we have this whole thing with silent Sam I don't know if you guys
00:39:51| heard anything about it but there was this yeah I think I enjoyed the show just now yeah and so yeah grad students you know forever nobody had listened to us and somebody
00:40:04| was like ok it's nearly on the semester this is why you're doing it this time because you don't think students will care so we're not gonna turn in grapes and it became very clear how much power
00:40:16| was actually in the grad students that are normally treated very well given their expertise given you know what few benefits we have and what we your are going towards but it became very obvious
00:40:31| how how essential these these lower pieces are so so yeah I am paid my tuition is paid for and yeah so I get paid before taxes I think it's 32 or 33 which is it's a and for me it's very
00:40:51| liveable for me it's comfortable but I think my issue is that all of these schools keep preaching this idea of diversity they keep preaching this idea of we want to have first gen students we
00:41:05| want to have mixed background we want to have multi race we want to have we want to put it our pamphlet so that our pamphlet and then the truth is is that they're not supporting it you know
00:41:16| there's a huge difference between asking for integration which is bringing in people and saying yeah you have a family yeah you're you know you're mid-30s and you've got a family but we want to
00:41:27| support you that's integration yeah versus most the time we're just asking for assimilation we're saying you know it's nice at your first gen we brought you in here we gave
00:41:36| you a discount now we're gonna do any resources and you have no idea what you're doing you know or you've got a bunch of really racist schools that are like oh we gotta fix our optics let's
00:41:47| bring some people of color and then they don't have any programs to support them like they just bring in three students and then take pictures of them they don't
00:41:56| have like an actual program or anything to reach out to anyone else it's just history so for grad school they're they're really big about it they're really like we're inclusive we're like a
00:42:06| bunch of different ideas and then pretty much the only people can afford to get your grad school without you know really digging them as a whole is somebody like me that I'm comfortable I have a safety
00:42:17| net I don't have a family or outstanding tons of loans did you did your parents help pay for other parts of college entirely some of it I'm just curious maybe that's that they covered half
00:42:30| right big Everett half everything and all that whatever yeah yeah it didn't include like food and clothes and stuff like that but it was it was bigger room like it was housing and tuition which
00:42:48| you said was like 7 K right so they paid half of 7 K for a semester so that was like four years times what - - changes every year ask me so what did you end up having in school at the end time is
00:43:02| alone and do you still have it right so again I think I was really fortunate and I'm also like I'm a really goal-oriented person and so the thing that got me through a lot of stuff was this online
00:43:17| site called CNN money calculator and it's or you like type it that in and it'll show you like your student loan thing it's really fun there's like three things you fill in which is I think the
00:43:31| time I'll not be fun I'm looking at my stuff right now look at how much you don't keep going you know no it's fun because you would put in you'd say you know I've got $10,000 outstanding I've
00:43:41| got this interest rate what would happen if I paid off $200 a month and everything calculates how much you pay overall and how long it takes you to pay it off and then you're like okay well
00:43:52| what if I didn't eat out twice oh it does about 250 a month so they're like holy [ __ ] a useful seven years and now it's seven how is that possible
00:44:05| and so I was really motivated to pay stuff off so I left with about right around 15,000 not bad at all because I had worked I'd started babysitting when I was like 12 my parents were always
00:44:17| really decent gonna cover your whole college yeah I mean I babysat the right kids yes at Applebee's so I for you Applebee's you know you ring and bring some dish
00:44:30| and I'm saying half-price apps oh yeah yeah I got that too 420 like my favorite people are anyone who's been a server yeah yeah sorry no I I agree I think everyone should work in a service
00:44:49| industry at some point in their life whether that's I could never work retail I would murder someone I would straight mmm-hmm I agree oh I can't wait to move about
00:45:06| really unfortunate because well I I moved down here with with my partner at the time and he and I split things and you know with that with the two income households and North Carolina is cheap
00:45:20| that's part of why I chose North Carolina versus I was looking at Boston and Ithaca New York in the San Francisco and you get paid an extra $2,000 you know that the cost of living is like
00:45:32| twice as much all right and also you know like you don't everything is so much harder so I'm there in the sports team in Boston are all racists oh right I agree there's shitty sports teams
00:45:44| there I'm special I said yeah I apologize yes that's why I went to North Carolina actually was funny the year that I came to North Carolina was the year that they
00:45:55| got in trouble for all those paper classes of all the like students I don't know if you guys heard about this so good calm yeah yeah all the all the athletes were taking these classes that
00:46:08| were like their their advisers would push them into it and the class was basically like for a midterm and the final you would just turn in a piece of paper with your
00:46:19| name on it I find here for a night did anyone misspell their name please well the thing was it all came out it all came out because you know the struck in college students so they talked about
00:46:33| it to their friends like it's not like anyone was like whistle blowing actually it was the fact that random as people were ending up in this class containing problem the problem was actually that
00:46:45| they realized they couldn't just give this to randomize people so have these classes know that like this dude would show up turn in a paper get an A or at least a B and the other person be out
00:46:58| there working and they're like why do I have a co this class like I had to like balance randomize the scores what's so bad so bad so that screws their athletes though because then they're uneducated
00:47:15| when they get that injury and they don't have anything to rely on which they care about seventy day care at the time does the college care at the time no I think somebody I think some of the issues were
00:47:26| like the people the students who you know it's the fear was like it was technically you should have put them on academic probation and so for those students that have been for a year and
00:47:37| it was their college coach who was telling them to take these classes you know they're a sophomore and the reason they're able to go there is for scholarship right like most of the
00:47:48| people are not able to pay for that on their own and they're on an academic probation because their coach told them to do something and it's just like ah it was so gross like yeah like college
00:48:01| football and NCAA like NCAA I mean I see the other way too though were someone who's an athlete who's they just dumb as hell but he's really good at sports like he's athletically smart he's a genius
00:48:14| athletically smart ethically like he or she might not be able to do any classes might never be able to do classes but it's so gifted to sport like I wouldn't want to keep them away from the sport
00:48:27| either I wouldn't be like you're not to play sports cuz you're not smart enough like that seems weird to on one hand this isn't it like some sort of classism where it's like we only look at
00:48:38| people smart enough play this brain type of people we want brains right well I mean I think it was was one of the places that really started cracking down on they just suspended four players but
00:48:50| I think it was for steroids years ago when all this was happening that more universities started being like okay no we really you know we can't bring people in for athletics if they really can't
00:49:03| even get well right then you wouldn't bring them in in the first place that would make sense yeah um no I yeah I think and what you were gonna talk about is how much the NCAA makes and really
00:49:15| why why do we bring these people into college if they shouldn't be at college that's why it for their benefit yeah they make 1.1 billion and the strange thing in Texas is that the high school
00:49:27| football coaches they make more than all the teachers like as a high school coach down here you can make over a hundred grand as I doesn't make any sense whatsoever
00:49:37| like what priority are we putting on students to say oh this teacher makes a half of what the football coach makes like is it really that there's no there's no journalism quote that I
00:49:47| learned in college you guys should adhere to i hold follow the money that's it like a little it was just followed by see kind of sleuth no no just I had a teacher he actually
00:50:00| passed away last year John Ross but anyone had him they'd remember him he had a Texas accent not fake a big white beard and he was a one of the big journalism profs
00:50:10| at University of Delaware he like everyone had him if you went to any kind of English journalism classes but he was always like I'll tell you what it is follow the money and I mean like why are
00:50:22| you saying this you sound like follow your nose like the fruit loops guy good follow the money like this is a stupidest thing now every time like there's a story I'm Lenny so
00:50:32| all the money and it ends up being right I mean that's why they push these guys through follow the money because they can make the most money off any question you have just essentially follow the
00:50:42| money so if you're gonna follow any money and you're going to college do you guys know what your starting salary would be on average anyway for your main one
00:50:54| thousand a year not your actual hypothetically pathetic pathetic Li yep what if I'd stayed at bio no as an English major is actually like fifty two so like I don't know how that's from I
00:51:14| think payscale.com yeah mine who talks like yeah just like yeah I think there was a national average for English majors I mean the nevermind but I'm bringing the gluteal Adelphia course
00:51:32| yeah everyone except you guys and like so my my starting salary was lower than the national average based on pay scale it was like 72 which seems reasonable over an interval it's that's pretty good
00:51:49| for um for a microbiologist PhD student I looked that up too it's eighty and eight so you're gonna be rolling in cash eventually yeah I mean the issue right the problem with that
00:52:05| well sure that's really funny because that has to be the like biggest standard deviation ever because it's still your yes watch yeah you search well right you used to go into a postdoc next and a
00:52:23| postdoc is like fifty thousand dollars or if you've managed to go directly in the industry it's like a hundred and ten thousand dollars it's really like you make half as much money with the same
00:52:37| degree doing the same job if you have this promise of maybe being professors or so yeah but I want to go into science education and outreach so who the hell knows when I'm will do what they think
00:52:55| is comfortable I was at the same job for 10 years because I felt like it was the right thing to do I guess I had some loyalty there so like
00:53:02| being in college and spending most of your time as a student it seems like you would progress and be comfortable in that that arena and you would be like continuous like you be a continuous
00:53:13| thing that you would do I can understand people taking less money to be comfortable but not exploring what's out there and it hurts and I can see the hurt on
00:53:23| Nick's face right now as he's realizing no not at all would you go back and change it Nick no no no this is you take out more loans ette to go to school again sure okay look everything I've
00:53:37| done has shaped me to this point do you know that me going to the school the only school I didn't get a scholarship to the only school that whatever and the only major and the people I hung out
00:53:46| with my sister um dated a guy on my hockey team and then eventually they got married they have three kids like if it wasn't me they probably would never meet and like I love my nephews and my my
00:53:59| brother-in-law your a cameo rom-com you're the guy who is the connection and then roles and show up until they role are no their lead role given the speech at the end
00:54:10| yeah the lead role your your sisters or your saying please don't turn down I'm gonna explain it it's it's weird because so you can't look at the so you're leaning on like the serendipity of life
00:54:33| and then like the joy like a percent because honestly what else is there I mean what we're talking about today is all money and it's literally probably the most important thing in our lives
00:54:43| but it isn't and this sounds like I'm talking out my ass a little bit but I literally just saw my one of my favorite people for the first time in like six months
00:54:54| he's um he's about 65 he's african-american he was raised in the ghetto he works at a church now he pulled a gun on his boss one time who was a trash truck he was a trash truck
00:55:09| guy and uh his boss threw him under the bus anyway he was put in jail for two years Oh literally he went to a bar and pulled a gun on his boss and I was like why are
00:55:20| you telling me this he's like I showed that son of a [ __ ] what was for and I was like what did you do that for he's like he was given everyone's overtime but me do this and like I was like
00:55:31| you're crazy dude anyway he learned his lesson he was young then his name's Richard he's one of my favorite people he got mouth cancer um three years ago he's he's
00:55:45| really hard to understand now because like he lost half his jaw but they controlled the cancer and everything and I haven't seen him first for four months six months and every time I do that with
00:55:56| one of my customer friends or whatever like I feel like they could die like I customers and friends who die because I don't see him for six months five months they're older they have issues
00:56:06| this guy had mouth cancer I just saw him today I was giving him DAP so I was doing on the back we were high five and we were talking about some old stuff and then we were talking about the Eagles
00:56:16| for like 15 minutes and I was so happy when I left him I was like yo my man Richards still got it he even made fun of my coworker who replaced me he was like that guy's [ __ ] I hate him
00:56:28| and I think it looks like yeah I do too I've never been happier to see Richard Richard I just found out today his birthdays two days before mine my birthday's next week ah and I was like
00:56:41| yo your birthday's coming up he's like yeah man my birthday's next week we're gonna see I was like oh my birthday's next week too and stuff like that makes me realize
00:56:51| it my man Richard's never gonna make more than the minimum wage in his life working this job like I won't and there's people like that that I come
00:57:02| across that are my favorite people I figured what I was going with the whole thing I don't know you're saying like it's not about money I mean French it is oh yes but it's the
00:57:14| people you come across like the personalities the people you touch and this sounds so stupid because I don't want to end an episode of it like you're not
00:57:21| the money problems of worker but but everyone's happy but I don't know like for that reason alone I don't care that I've been in debt forever here here are my numbers
00:57:31| there's our hit so I pay five hundred and eighty eight dollars a month in a student repayment that's like it's not quite a um that's a car payment it's a it's a car payment it Loess groceries
00:57:45| plus yeah something else I've been paying it since I was 21 I have let's say navient bought some of my loans and Nelnet so I have two companies I stole alone so navient I owe 16300
00:58:02| still one my lens is it five point five eight point five five point five my estimated time of payoff for navient is twelve seventeen to twenty twenty-two very close okay so I'm getting there
00:58:19| okay the other company was Nelnet smaller larger it's larger order all tell it's nineteen thousand three hundred and eighty one left this is left I've been paying since for over ten
00:58:36| years so it's only four percent and I will be finished paid off and I headed on here twenty twenty four ish I wish yeah I think it was twenty twenty two ish so I will be like forty who knows so
00:58:56| this is leaning until I press it you know this is leaning into like the mathematical construct of like deciding like the perfect path in life if you could like just think oh that was
00:59:07| literally the opposite of the perfect pages Oh 100% we tell no one to take my path but I would never return my path does that make sense yeah I have a question for you guys okay so one of the
00:59:21| things that keeps coming up in a whole bunch of places is this idea of universal like basic living income right this idea that you as a society have enough resources and money
00:59:34| to make sure that everyone can a little bit as a human that's that's one thing part of it that comes up is education you know if if we have the means how do we feel about everyone getting free
00:59:48| college what about that idea that's like okay places like Europe your socialist just wondering what you guys think about it I'm a hundred percent down with it I love Pavel in the goddamn same I know
01:00:02| that sounds because I make less than everyone so I mean it make sense I would say that but I do against people me Social Security and stuff like that that should cover people that had like can't
01:00:14| go to college can't do that like they're not gonna be up to snuff so I I do agree that there should be some form of coverage for people when they can't make it in you're gonna get banned from loves
01:00:24| what does uniforms on oh boy they're not here you're a socialist I don't know where the motivation comes from though because a lot of people I'm gonna spin it the other way is that there's a lot
01:00:33| of people that are like ultra motivated to game the system and like just rock it like they're they research a ton they figure out the best path and they do it but they're also kind of robotic in the
01:00:42| way that they do it like there was this one guy that went to college I think he was on like a GI Bill so it covered like any class that he took and then he would go to college and then take
01:00:54| classes from other colleges online so in the first year he like completed like three years of college so he would just like he massively gained the system so that he could just like cough like
01:01:04| quickly get out of college and then he got like three or four degrees when he was done so he could just pick whatever job he wanted so it's like those type of people like breaking the system like
01:01:14| their motivation is exactly that like skipping over the parts that are [ __ ] and then tying it together and just like wrapping in a bow to make their life that much better
01:01:23| was he good at his job does anyone know I don't know so we it's a weirdest thing but what I find college to be and I tell this to the person I live with who's a college administrator all the time is
01:01:37| that I mean college doesn't make you necessarily good at your job at all people say they makes you more well-rounded I would say that like it expands your like your networking skills
01:01:47| like the people you run into are probably more influential if they're from a college anyway I mean being away from your parents learning to live on your own it kind of letting
01:01:56| loose independence those are the reasons why I chose a college and that's not the best reason you pick it but you could game it to dig a because like I only see it as like well-rounded in terms of the
01:02:09| opposite like it's always told just like oh you fill out into these spaces and I think it's actually like you get you get to pick your mirrored edges of like whoa you can't deal with working in groups
01:02:19| well that's too [ __ ] bad Oh your mom wakes you up for class mm that's a bummer it's gonna be really hard for you so all of these edges I think you not fit into society they get like rounded
01:02:30| down so you become a round peg you're just getting tapped into that little round hole yeah I don't know I think yeah I mean I just I I think you you have to look at these two in my opinion
01:02:48| you look at these student loans and it's just very clear that we have allowed huge corporations and people with giant money to just buy our government open country you know and I got nine
01:03:05| companies you bought whole suckers and it's just a question of like okay what's what's our what is our mission as a country is it you know total free market that we want everyone to be able to
01:03:17| pursue whatever they want which is a nice idea if we all started at the same point we don't know and it's just like well this this is a power scheme in that separation between the haves and the
01:03:30| have-nots keeps getting bigger even though we have the resources to really make the world better and we have the resources to thank you there's so much digital education out there you can make
01:03:40| college a lot cheaper and just as effective but people would lose their jobs and that's scary because we don't have you could make make online online Lord ever learned does and read it it in
01:03:54| I T do know everyone does an IT video in reading ninety no no even better when they run into a problem we got an error message on the server can you guys fix us they Google it every
01:04:06| single one of them there's not one person who doesn't they're like yeah hold on we'll work on it and they just google it and they figure it out and then they figure it
01:04:13| out I mean we're becoming a higher-grade but I mean that's to be fair that's like most of my job to everybody what I'm getting at is it's kind of everyone's job you don't go to college go for
01:04:28| accounting let's say I want to be an accountant and then you get a degree and then you apply for a job at HH briggs that row knows who h h Briggs is right I made them up it just sounds like a
01:04:38| famous place but that's fine so no matter who you are it could be me who has a fake resume it could be someone with a bio major resume give me someone English major resume disgusting if HH
01:04:51| Briggs hires you and they bring you in on the first date guess what they do they train you and tell you what they want you to do right because they don't just say here's your paperwork just fill
01:05:00| it out I mean you did a cowling and glue it has a system everyone has rules everyone has an order they do things like a company so what happens is most people can do most jobs I mean the
01:05:13| degrees kind of [ __ ] the decree helps you get there the green rounds you it gives you familiarity with the product but there's nothing to say that I couldn't get a job at any profess
01:05:26| oriole I say that right I don't even know what you go over Tanner go over tenure I could go for tenor to fill in for someone you throw all the questions right on to tenor no really
01:05:37| maybe like this guy got it and I really go home by the way it wasn't really made well you can't have it like I feel like she faked a resume an accountant in anywhere exactly and I think I would be
01:05:49| okay and then eventually they tell you what to do anyway it's not like I would be like well I'm gonna change the way this company does taxes and change everything do you really mean I do you
01:06:02| think it's a bad experience I think it's it's interesting cuz 100 percent the academic stuff I think about you know the classes I've taken what do I actually get out of it it's truly what
01:06:12| I've found out of it is the ability to speed read that is a you know that you don't get without experience right the ability to write convincingly and accurately that's some
01:06:23| of those things you can't this week like I agreed you can go in and like spit out the facts but the truth is is that those are the facts that they actually give you in college right like that's
01:06:33| unfortunately the focus of of high school and college in so many ways is is to do these facts where really you could even get experience in school that was you know if you're doing accounting it
01:06:47| doesn't need to be memorizing laws it could just be okay we're gonna give you practice sets and you know some at some point these are gonna be real sets of data um like you were saying at the
01:06:58| start nick of well let's have the counselor class actually do something you know you don't go problem with chemistry classes is they have you make cool things if everyone just actually
01:07:07| got to make a starting product that was gonna be used in an actual chemistry lab mm-hmm be way better so I don't I just see these these systems that are so in place I mean most of the way that we do
01:07:21| at education was set up in the very start of the 1900s and based on stuff that has been around since the eighteen hundred's but before that this didn't exist this isn't how people learn I
01:07:34| really think that you know with the digital age where students no longer have to get everything in one spot you don't have to go to the University of Iowa so you can get the best English and
01:07:46| Spanish and microbiology you can go to the one place it's like a trade school for microbiology and then you can take those extra classes online and hopefully you can focus on what you're gonna be
01:07:59| doing you know I think the trade school model is awesome and I wish that it expanded out past you know technical assistance and things like that because so many people don't want to be the CEO
01:08:12| the professor they just want a good [ __ ] job and not to be stuck with student loans until they're 55 42 whatever I'm not gonna wet I don't know oh that was really good
01:08:27| that was real and what it told me is this listen we can all do any job we can all go to any college we can all in crew any debt we can all have any amount of money we don't make and do make and
01:08:38| everyone makes the same amount of money we are a socialist podcast boom stamp it and can you say it say I love socialism just say can you put a little Russian flag in the corner oh go for it
01:08:52| I just finished all my beef jerky I'll share it with everyone I have my beef jerky Wow that's expensive no is 2 for 10 i meant for this roller
01:09:04| hey everyone 1 for 450 that's 2 for dinner I let everyone else share it upstair if I didn't just open this fresh for the episode if I hate $5 what sweet you're eating he's yeah stop eating like
01:09:29| he did this episode to go in it oh my gosh and then he he passed out live on camera no too drunk for an episode this only happened once and it was two episodes ago and I because it
01:09:42| took him an hour and figure out how to do so you know I don't doesn't matter this is a good way to wrap up the college section like really really why we all have student loans it's so much
01:09:55| money on alcohol I spent so much money on alcohol and it's really difficult to spend a lot of money on alcohol as a woman I have no idea what would have happened if I was a dude in college I
01:10:06| would have had twice as much to close pay for the alcohol that we are providing at parties that's that's the trick otherwise you guys do this we like women like people always like how you
01:10:21| get free drinks really free right and why would yes and why would you base the entire night on free drinks you could get a free drink any or two but then like when does this thing you don't want
01:10:37| to have a drink but it's a gamble and it's sort of like every 15 times you do it you're gonna have to have a weird altercation and hope your friend is there even think
01:10:48| about the repercussions of getting a free drink sometimes it's not worth it probably know almost never know so you have to do it's it's really interesting so you can only stay at the bar for like
01:10:57| another 30 minutes because then otherwise they'll come get you and be like no another another one oh yeah yeah they'll follow you out of the bar before you to the next I want their repayment
01:11:12| plan you know what's really cool to you from other guys trying to creep on you even though they're creeping ah this is crazy no I'm I'm guessing in my college days I was a creep I was at this I was
01:11:25| that the most the stories I hear I wasn't a creep because like I never got girls like I was always like I tried to find everything always like angry is never getting women like I never pursued
01:11:37| them like beyond like hey what's up and then if they didn't they weren't like interested in me I was always like [ __ ] I hate you like it was myself because I wouldn't I would never pursue it further
01:11:48| and be like hey I'll get you another drink like I didn't put it in your hand and you're like I didn't want this it's like weird
01:11:59| oh yeah I remember right these are bars where there are a hundred people in there and over certain age that are scary right like so that's the thing is that a lot of dudes I'd tell them to
01:12:14| they're like oh I would never do that like to pay no but the problem is is that there for all of you there's like every 500 of you there's one horrible person right and you don't know you know
01:12:27| so I was happy to pay for as much alcohol as I could and I truly think that that was a very large chunk University of Delaware I'm talking this much sales tax like boom zero you know
01:12:42| what make me money it might have saved me yeah unless I honey if you bought it warm it was a dollar cheaper we would where did you buy this room we would buy a warm 30 rack of Keystone light for
01:12:58| $9.99 light huh walk it back to my house did you get the orange can I did get one of them and I'm not even gonna talk about that night and we would open the watch Flyers games oh my god listen
01:13:15| that's gross like we didn't spend the extra dollar on a refrigerated case but we also didn't wait to refrigerate the dollar less case why don't you just like at least each
01:13:26| take one of them put the rest in the fridge because we would just sit it in the living room floor and watch a game even start cracking them there's something you spend that much my
01:13:36| suspense I sound weird because this rolls back into jobs you make friends that way there's something to be enjoyed about unenjoyable things like sharing misery at warm 30 robbing somebody as
01:13:49| long as you can't pay it off yeah that's one of my favorite thirty rex things that i think about like he sound like warm watching a Flyers game when been eager destroyed that guy krahgg over the
01:13:59| board's I still remember that like the job I hate mail my favorite thing is complaining about everyone and being like the customer you hear when I had a customer here oh my god let me tell ya
01:14:08| you enjoy so much from the things you don't enjoy maybe everything evens out and so that when you really enjoy something that's all there is to it but when you really hate something there's
01:14:22| like gossip you can do about it there's like backstories you can do about it there's like shared misery you can do about it I don't know I have no idea folks hmm I enjoy the student loan debt
01:14:35| ah I love it Sallie Mae hey Sally suck me thanks for your list oaks worthy on panners is a Susanna al Harris you can check her at whatever our socials are yeah
01:14:58| yes it's down below there below me got it folks Sallie Mae below me and do the little recap is that the recap I think it was all student loans like every section we talk about snowballing yep we
01:15:23| covered most of them raw doggin as in war being raw dogged by the nine companies mentioned here we talked about blinking farts out butts they talked about politicians we talked about how
01:15:40| Republican back Senate or the Howard Stern of science oh my god I am Otto deducting payments from your paycheck your student loans garnishment is that was that let's call this
01:15:51| garnishment loans grants for financial aid who knows the difference I mean is that free money or is it not right seventy percent of students have did you just double joint your entire arms are
01:16:03| you freaked me out for a second uh seventy percent of graduates have debt oh my god everyone at home listen to us don't pay it so if I don't pay it you'll be fine the government can't can't honor
01:16:17| it of everyone it's gonna be there forever don't worry about it we just go in it's fine yeah just how you talk about we talk to college could you be like I'm a
01:16:30| company now I'm gonna send LLC everyone in bankruptcy just be like Oh doll that company huh no longer exists he's right there he's got an annoyance let's take it from him already got it we got
01:16:49| another one electoral property kick it down we got a four four seven we're gonna take this [ __ ] down anyway folks thanks for joining us thank you thanks for tuning in thanks for
01:17:01| listening if you have anything you want to put in the comment section about my hair it's because I didn't champ ooh or gel it today it's just natural where is there a street wait do you not
01:17:13| know about that I wasn't there for that it's his feather he did the feather eyes and he kept it open but I have a birthmark or a feather I was touched by a ghost at age 13 and I have a gray spot
01:17:26| it's right here the hole is when my hair grows at least I think you know well my hair doesn't grow I will go gray before I go bald thank
01:17:32| you hmm and before your talk with your student loans well before I'm done with my student loans thank you thanks for joining us check our socials
01:17:44| donate to our patreon I'm not going to use it to pay my student loans and thanks check everyone socials check everyone's everything check everything's check everything check everything check
01:17:55| it check it Thanks thank you
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