Default: The Student Loan Documentary is a feature-length documentary chronicling the tales of borrowers from different backgrounds affected by the private student lending industry and their struggles to change the system.
In 2005 private student loans were exempted of ALL consumer protections. No matter when their loans were taken, many borrowers now find themselves in a paralyzing quandary of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with tales of borrowers in financial and emotional ruin.
www.defaultmovie.com
A film by Aurora Meneghello and Serge Bakalian
Duration : 0:5:13
[youtube 1463LHDLGvQ]
trust in Jesus …
trust in Jesus first and accept him today in these endtimes
MY FRIENDS,
The …
MY FRIENDS,
The College Matrix is alive and real…for it affects thousands and once one realizes the matrix, they are already deep within the Belly of the Beast. Expose the College Matrix my friends, for I will.
applyforstudentloan …
applyforstudentloan- i agree that the largest problem in this country is class. but to say that you will only become as wealthy as your parents? do you really reckon the only way to get out of your class is through a huge expensive school? what about blood sweat and state/community college? or the immigrants that come here and make more in a year than their student loans are worth? but i’m glad someone else agrees that americas problem is class.
i feel sorry for a …
i feel sorry for a lot of these people who dont deserve this but a lot of people i know went to 30k a year schools to get bs liberal arts degrees, because they wanted the college experience, thinking that community college or state schools are below them, then wonder why their 20k a year job can’t pay off their loan. luckily the gov is about to faze out private banks and becoming the only direct lender. ive never had a problem with them repaying my loans. also, how do you not know your lender?
It’s bullshit. …
It’s bullshit. You’re not allowed to establish your career and your LIFE until they get paid first, and if you place them off, they simply go to court and take what you make from you. My sister is in a 1-bedroom apt. with 3 kids on a part time job, and the student loan nazis are taking HALF of her paycheck.
College is a roach …
College is a roach motel–you enter but you don’t leave until you’ve lost all your money. It’s like one of Jigsaw’s traps in “SAW 4″.
to illhonkey: HA HA …
to illhonkey: HA HA HA you said exactly what I did…..go to the cheapo 2 year then transfer. My dad was a very educted person and that is what he told me to do. In my dads life he was a banker, a soldier and a college professor……so he was pretty in tune with this situation.
to illhonkey: you …
to illhonkey: you hit the nail on the head, Honkey. I was thinking the same thing….the alternatives…..entrepreneurship, 2 year tech degrees etc. See my recent comment.
My suggestion to …
My suggestion to anyone going to college is this……First: go to a cheap, “accredited”, 2 year Junior College……then transfer to your first choice school. This way…you will get your basic core courses out of the way and really have some kind of diploma in case you quit school before you get your 4 year degree. Also…..since you got a 2 year “degree”…..it cannot “expire”. That degree is valid to transfer to another college “forever”
I’m so glad I left …
I’m so glad I left my $120,000 8 term priv uni program. I only went for 3 terms, even that is too much and I borrowed appoximately over 30k and it is ridiculous to reckon that I’d be over 100k in debt out of school.
45 and 73 : same as …
45 and 73 : same as me man. in hard!
Going to college is …
Going to college is a huge step in life. It is exciting, challenging and costly. One of the largest stresses of going to college is figuring out how to pay for it. For many students paying for college involves getting student loans. Grants, scholarships and other free money does not usually cover all the costs and the only other place to turn is to a student loan.
The major problems …
The major problems in this country are not sexism or even racism. Its classism. Relegating those ont he fringes of society to be no more than burger flippers and wal-mart greeters and the fortunate few who largley had it all handed to them as dignitaries is a recipe for disaster. We might as well bring back kings and queens and bloodlines. The struggle for existance will only depend on the dice you happen to roll.
Generally speaking, …
Generally speaking, an individual will be approximately as seccessful as their parents. This should settle the nature vs. nurture debate as it correlates to success and wealth. Money begets money. Those who have will work half as hard and receive twice as much. Those without will work twice as hard and receive half a much. We can thank usury and other economic barriers to economic mobility for this. If this is the system that the people want, our current sytem, very excellent. Pray for rich parents.
Ya’ll are right. ‘ …
Ya’ll are right. ‘The fantastic equalizer’ is a privledge and not a right and if you can’t afford to go then you shouldn’t go. But take this away from the people and see what civil disobiendence and insubordination will ensue. The citizens of any nation need to have economic mobility, a way to improve their economic situation. Without that, no nation stands a chance. But so many people reckon that a high schooler with all the accolades, credentials and such but an inability to finance shouldn’t go!??
Okay, the prison …
Okay, the prison system is a whole different topic.
My comments were directed at ppl ing about the cost of college, not necessarily about the college experience itself. I’m grateful that I went to college and despite the costs of attaining the degree, I am not resentful of the institutions that funded my loans along the way.
My comment was simply to highlight that there are alternatives to higher education (and costs), including entrepreneurship, entertainment, sports, and yes… prison.
Well Ill, if money …
Well Ill, if money didn’t exist, we wouldn’t have this discussion and we’d be excellent friends inventing stuff. I’ll part with this, have you read up on what a Resource Based Economy is? You can see what it’s about in the Zeitgeist Addendum video, which is free online to watch. Let me know when you do, because I’d like to be your friend in these ed up times.
I never idolized …
I never idolized the wealthy, but I can respect their skills. The acquisition of money is all just a game, bullshit. I can’t be mad at ppl who know and apply themselves to being successful, and those ppl should certainly not be responsible for the poor. Capitalism really is just money being transfered from one person to another in a dog-eat-dog fashion. I delight in watching the struggles as part of my own sick amusement but I, like you, can not wait for the system to fail.
I wasn’t going to …
I wasn’t going to say “charities”. I was really thinking about the societies in the world where the wealth is disbursed evenly throughout the population and all colleges cost the same reasonable price; China for example. But, I choose to not live among communists.
and 1 more thing, …
and 1 more thing, stop idolizing the wealthy. They are the worst people to be like. They horde their wealth and thus promote greed. Imagine if Bill Gates donated 39 billion to the homeless and hungry(generally speaking) and kept 1 billion for himself? No more homeless and hungry. Why the does one person need so much money for anyways?? And before you say charities, that is chump change to him(like me giving out 1 dollar to a bum), and simply for the sake of tax write off.
That’s why I can’t …
That’s why I can’t wait for this system to fail (and it will, because more people despise it than support it), because all those rich holes will be left with nothing but their huge houses and tons of worthless green paper and metals (gold). Dude, your faith is money, you don’t care about people, or the planet for that matter. I can tell by your comments below. Get out of the bubble you refuse to come out of and SEE what your country you like so much has turned into:advertise>consume>repeat
And when that …
And when that happens, I hope those people that get the higher loan fees wake up and stop paying like a slave to the system! You see, when the whole world finally loses confidence in the monetary system, be it from capitalism, socialism, communism (all 3 of these work within a money/barter system), that’s when we free ourselves from the slavery of debt. We are born to become CONSUMERS, regardless of profession. And if we don’t have purchasing power to consume, then we are nobody…
illhonky, Athletes? …
illhonky, Athletes? 1 out of every 16,000 make it professional. Actors? Oh please, tell that to the tens of thousands of actors living with their parents. Musicians? Even most of American Idol stars don’t make huge money.
We should all aspire to be like Bill Gates and drop out of college?
You are using the extremes of rare examples of success.
How about the statistics for prisons? Guess how many drop outs are sitting in prison. Those with college degrees are rare in prison.
Piece of paper?
I never advocated …
I never advocated defaulting on your loans on purpose. What I object to is the raising of interest rates to rates that even Jesus preached against. You reckon a person wants to default so that their rate can jump five fold?
I went to a 2 year college, too. I worked my way through my Masters only because my parents had a business and I was able to make 7 times the minimum wage. I financed my doctorate. I don’t ever plot on defaulting, but I find it inhumane to boast corrupt Sallie Mae practices.
You are exactly the …
You are exactly the type of loser that makes college prices and loan fees higher for the rest of us. Thanks!