Default: the Student Loan Documentary
30. Sep, 2010 
50 Comments
Default: The Student Loan Documentary is a feature-length documentary chronicling the stories 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 predicament of repaying two, three Order Generic Propecia Online without Prescription 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 buy Daily Best Puppies online stories of borrowers in financial and emotional ruin. www.defaultmovie.com A film by Serge Bakalian and Aurora Meneghello
Video Rating: 4 / 5
Suze cheap cytotec explains how student loan crisis is looming as the next big thing. She says the real estate implosion 2b price zyban and banking crisis including the credit crunch have not yet been dealt with well. She implores Congress to head this one off at the pass as our young people are being saddled with compounding interest at such a rate that very quickly the loans become insurmountable. The show took place on 1/24/09.
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When is this movie ever going to come out?!?!?!?!?!?
Everyone needs to go get a loan for college so they can be in debt most of their life! That way when they get out they can be a waiter or waitress for the smarter people that said forget that college crap I’m going to start a business and the poor college kids will work for me ! True story … real life! Wake up people college is bogus for the most part. Buy books and learn yourself how to start up and run a business. Unless your going to be a doctor/lawyer etc.
What a bunch of bullshit. I went to a public university and came out with 17K in debt. I got a 40K job 3 months after graduating in 2006 and finished paying off that loan this June. I have no clue why people are borrowing 25K a year for college, you have got to be some kind of idiot
my sallie mae loans started out around 94k and now I owe more than 218k, I live at home with my mom, was basically forced to move home so I could make 150 payments a month so I didn’t default, but apparently i had already defaulted…. i get a different story every time. I am supposed to make $2,500 payments a month….
my sallie mae loans started out around 94k and now I owe more than 218k, I live at home with my mom, was basically forced to move home so I could make 150 payments a month so I didn’t default, but apparently i had already defaulted…. i get a different story every time. I am supposed to make $2,500 payments a month….
@stater68
And the fact they keep jacking up tuition!
@GhostWritersForHire unless you dont have children, noob.
@techn0teen Honestly, you don’t even need the books. I have heard of many people who just Google the info OR buy the book and then video tape each page and watch it on their TV (then return the book, or borrow it from someone originally).
Or there are torrents, of course….just some things other people are doing. Also, the school book store is probably the most expensive place to but the books. Try ebay.
@stfucopter What’s the difference? You pay or they pay. If you are a child, then you too will pay when your kid goes to college. It seems to me most people would take it more seriously if they paid it their self.
sing it sing that college song hahaha fuckin retards!!!!
I got a call the other day telling me that my 16K plus 22K of interest and 10K of penalties adds up to $48,000. Maybe Obama should have considered bailing out college graduates instead of banking moguls?
@ticks4ticks4 They won’t sit and wait for you to read the fine print. They rush youthrough the process like you’re part of an assembly line. Same thing for hospitals. They say, I’ll just tell you what each form is for and what it says. You don’t need to read it.
@ticks4ticks4 Because of my $2500 loan, I can’t go back to school unless I pay for it myself. I can no longer get any financial aid and if I get a job they will garnashee my check. I am totally and permanently disabled but I want to aquire a trade so I can work for myself. That 2500 has turned into thousands over the years because I wasn’t able to graduate and the school I went to wasn’t accredited and closed down.
@ImNotYourFriend212 Two words: Sallie Mae (or “Sallie Mae, PLUS other loans”).
@techn0teen Welcome to the USA economy in 2009-2010+
@aceknight8 True! (except for federal/state income taxes you pay). Don’t waste money (or borrowed money) on college that leads to no useful job skills, especially in useless degrees that many college grads have.
If interested, consider a trade school or vocational (usu. 2 year) program at a community college.
@ImNotYourFriend212 Because so-called ‘intelligent’ college students sign a legally binding contract to borrow loans w/o reading the terms of the loan or doing their research! They don’t read/understand the ‘fine print’. They feel a “divine right” to college.
Other problems: 1) many useless degrees exist, leading to no job opportunities (esp. w/ many grads. competing, and no useful experience that employers want;
2) the USA economy;
3) high shool teachers/counselors say “Go to college!”.
In East Asia, parents pay for their children’s education.
That mother at the end said it the best.
But hey if you dont want an education their is always the Republican party
If your really stupid their is the tea party
my dad lost hi jobs, and now i am getting denied on all the private loans. I can’t afford to go to school
Damn! That is just criminal that they can get away with raising the interest on these loans. The law needs to make fixed rates for student loans compulsory.
How the hell could the outstanding balance be that much? Oh my god. That poor guy. It’s not fair for him and that woman. Why is this happening?
I exhausted my Stafford loans having taken 2 classes not realizing this. I have one class to go to graduate and cannot take it because cannot afford and the College still wants payment for the 2 unpaid classes. I have come all this way and stuck right before the finish line. All of my loans are in forbearance
To survive crippling college debt one has to adopt personal austerity measures. These differ for everyone, but what I’ve had to do is take up “Free sleeping” aka invisible homelessness. This saves me anywhere from 400-700 a month from rent. I moved to the southwest with its mild winters and low humidity. Gym membership is only 30 a month. I pay all of my 400 for student loans and still have hundreds left over.
College life is just borrowed money and borrowed time. I would advise high school grads to go to college…just don’t enroll in classes. Enjoy the college experience without the debt. Sit in on lectures you enjoy for free. Join discussion groups on issues and ideas you care about. No need to pay 20-50k a year for some prof to read off a powerpoint. Work part time,even at near minimum wage at least you keep 100% of your money for you
she’s RIGHT
@SugarBare28 In Canada, education isn’t that pricey.
If you go 2 school 4 liberal arts, etc. Do not take o/loans! They were meant 4 ppl who majored in medicine, law, engineering et al white collar fields. This info came to me via my bankruptcy lawyer who informed that my loans wld not be covered under the Ch.7. He was right. I finally got better and loans are fully paid off. Everyone that I know who weathered this economy did not go to college. Their bills are being paid w/$ for extra things. Stay away from the loans!
My student loans are finally paid off! Taking o/the loans in the 1st place was the biggest mistake. I had gotten sick & fell behind; the DOE hired a collection agency that actually called my neighbors! Please ppl., avoid the loans like the plague! Go 2 a community college or a VO-Tech 4 nursing, plumbing etc, then find a job that offers tuition reimbursement. Live simply. There are no recession proof jobs anymore
THIS is the main reason why I’m considering going overseas. I’m caught in this mess, and guess what? I have lost all hope that our country is going to fix any of this problem. It’s only going to get worse until America itself, collapses from all the debt it has.
Anybody trapped in this awful scheme who isn’t tied down- between freedom and slavery- consider picking FREEDOM. Your life will be infinitely better for it.
If you need to pay the loans. Choose the income contigent repayment plan. They base payment on yearly income.
God bless you Suzy.
The shit really is about to hit the fan concerning student loans. There are NO JOBS for these students! The jobs they will get will not pay them what they need to pay off these loans. This is greedy education institutions at it’s worst. It seems you cannot get a simple $30,000 a year job anymore without having to pay $50,000 for a Bachelors Degree. We will all be slaves to the system soon. They will own us like cattle until we are dead.
Moo!
i say fuck all these bastards that compound interest when the loan is in forbearance… why the fuck do these companies even charge interest? i’m not buying a house, car, or extra large tv… i just want to get educated damn it! i’m willing to pay back the money but damn… you people gonna charge interest? ef u for that! education shouldn’t have to be about business and making a profit! oh and fuck you SallieMae!
Education should be FREE for those who want it…there are plenty of people who don’t. Education is a business…like everything else in America. Sad.
@artmak5 No, Its has destroyed America along with the loans for mortgages as well!
@magdalulu If i may ask personally did u just start paying or have you been paying for a certain number of years?
My tuition had cost 20,000+ a semester not including room and food… I believe College/Universities should be free like they are in other countries. But if you want to go to a private and or relegious school than you should have to pay…I’m about 100,000 in debt and college wasn’t worth it to me if i can’t get a job right after graduation in the field of study I am in….
@KevZen2000 LOL! Not anytime soon, Kev.
@peskysushi
haha your screwed!
the answer to the SLC is to make public college free. its done in other countries so why cant it be don here
@Eball06 I absolutely agree with you.
I am actually considering leaving this country because my student loan debt is driving me to insanity.
How about *not* taking on debt that you don’t plan on repaying?
That’s called personal responsibility.
STUDENT LOAN CRISIS WILL DESTROY AMERICA!
@DWANESWIFE I mean this in the best way possible, with no offense intended… How’s that degree working out for you, and was it worth it? Also, would you like to disclose the school name?
@pkidro You’re right. I wish every day the government wouldn’t be in the loan, or loan guarantee business with a ton of other things they shouldn’t be doing. Where do you think your taxes are going to? Let me guess, shifting the money around so the minimum payments, going to undeserving people who screw up, are made so we don’t default. Ah, I can dream can’t I?
China owns all US debt treasuries. Hongkong bought out GM almost.
Japan owns all sony and car on the american market lexus to everything
China even has transrapid . a supertrain 300mph using no wheels looks like bladerunner. check it on youtube.
italian are now the greatest pizzamakers, not the glory romans.
@td84 FILM AND VIDEO…AND MOTION PICTURES…
@td84 i wish the government wwould help me and stop taking a shit load of tax from my paycheck and let me free to pay that student loan off. US fucking A is becoming more shit everyday