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Stuff They Don't Want You To Know

CLASSIC: The Student Loan Conspiracy

Stuff They Don't Want You To Know

iHeartPodcasts

Society & Culture

4.310.7K Ratings

🗓️ 27 June 2024

⏱️ 81 minutes

🧾️ Download transcript

Summary

Higher education offers millions of people the opportunity to pursue their dreams and make meaningful contributions to civilization -- but it often doesn't come cheap. At $1.5 trillion, the student loan debt in the United States alone is worth more than the value of Facebook and Microsoft combined. So how did we get here? Why do so many people believe the government and private financial interests have conspired to put people under the thumb of life-long, crippling debt? And, perhaps most disturbingly, what will happen if the debt bubble bursts?

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Transcript

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0:00.0

fellow conspiracy realist, this episode is for anyone who has a student loan, which is a large amount of people.

0:09.8

Man, it was the most big boy pants moment of my adult life when I paid off my meager

0:15.4

student loans and I was very lucky to have gotten something called the Hope

0:18.8

scholarship which in the state of Georgia if you make A's and B's pays for a large portion of your college,

0:24.4

I took out a loan just to pay for some living costs and some equipment and things like that.

0:29.6

And even that stuck with me for a long time. And when I finally was able to pay it off it was a big deal

0:35.8

but I know people that depend on student loans with their entire tuition are not that

0:40.4

lucky. Can you believe that I never had a student loan guys?

0:44.0

That's awesome. I can believe that. I'm that privileged. Oh my goodness, but I did pay my ex-wife

0:49.7

student loans and they were steep. Mm-hmm.

0:53.0

Especially with the interest rate.

0:55.0

What was it?

0:57.0

There's the old Mark Twain line about compounding interest.

1:00.0

This episode is from 2019, folks, from February of 2019, wherein we talk about the idea of student loans as a systematic conspiracy. At the time that we recorded this, the overall student loan

1:17.9

debt in the United States was $1.5 trillion, which is barely even a real number.

1:25.0

And then, hey, since then five years later,

1:30.0

some of us have had our student loans just wiped from existence.

1:35.0

Mm-hmm. And the question is, what happens with all of this money, all of these expectations when the bubble I'm doing

1:46.2

onomatopoeia I'm doing something it burst it

1:50.7

all right here's the show.

1:54.0

From K.T. studios, the number one podcast, The Idaho Massacre is back.

2:01.0

The new development in the University of Idaho Murder case.

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