Responsible Borrowing


College or career school is an important step in achieving your future goals, and there are many financial aid options to consider. Did you know that a federal student loan can be a great way to help pay for school? After all, a grant, work-study job, or a scholarship can be a huge help, but these forms of aid may not cover the full cost of attending school. So if you decide to take out a federal student loan, it’s important to understand what you are getting and be a responsible borrower. Getting a loan is a big decision. You might be paying your loans back for 10 years or more, so take your time to decide. And remember to accept only the loans that you need, because you’ll have to repay them once you’re out of school. Here are a few things to keep in mind when deciding how much to borrow. Do some research: Make sure that your school is the right fit for you both educationally and financially. Location, location, location: The amount of money you need to borrow can depend a lot on where your school is located. In-state schools and community colleges may cost less than out-of-state schools. And finally, getting an idea of your future income is also important when deciding how much to borrow. Starting salaries vary greatly depending on your career path, so it’s worth thinking about how the amount of your loan will affect your future finances. After all, your student loan payments should be only a small percentage of your salary after you graduate. Once you’ve decided on your school and figured out how much money you should borrow, you’ll need to sign a promissory note, which is an agreement to repay your loan. Make sure you keep a copy for your records. If you do take out loans, you’ll need to keep in touch with your loan servicer when repayment begins. Your loan servicer will make this easy for you you by offering web, e mail, and phone contact options. If you make this investment in your future, being an informed, responsible borrower can pay off in a big way. If you have questions or need more information, please visit StudentAid.gov.

100 comments on “Responsible Borrowing”

  1. iSNEEZES says:

    I find it amusing that comments weren't disabled for this video.

  2. Millie Me says:

    I find it funny that this video was in the suggestions for "Bad Boys" by Bob Marley

  3. Hazel DeLoach says:

    Very informative…

  4. Tony Opabajo says:

    great

  5. na4a4a says:

    …was about as informative as a dried fish…

  6. Seth Williams says:

    Anyone else think these financial-aid requirements are crap?

    'Merica.

  7. hhslf says:

    thanks obama

  8. Demetras Richardson says:

    Great!

  9. M. Al says:

    I say no more debt, no more financial slavery, no more life long repayments. Yes to Dave Ramsey, yes to paying cash, yes to work, and yes to freedom.

  10. Xavi says:

    Indeed, some european countries give students free money, yet they DONT have the best jobs with better enviroment, salary, and benefits. But I agree they should cover most of the expenses since Financial Aid only gives like a fifth of the total cost of attendance :/

  11. TheJebusCheese says:

    Just loving how EFC is a huge number when in reality, I'm all on my own.

    #killmenowplz  

  12. dtmevolved says:

    I am having trouble getting enough money together for college. They said I have two weeks to pay or I get dropped. I'm trying to become a firefighter, with a low salary because I want to save lives and help people. And this is how i'm treated? 

  13. red hatter says:

    anyone else think its funny that the government is trying to make us; as people in its likeness… forever in debt and no way out without robbing from the poor…

  14. Nick Payne says:

    Loans are the DEVIL!! Lol. Jk. But no, really. I'm basically being forced to take out a loan and I have no idea why I am even taking college classes right now. Someone, seriously, just kill me. 

  15. CHeEEEeeeEEe says:

    i wish i saw this in highschool haha

  16. LackofRyan says:

    If possible don't take out fat ass loans unless you want to help the Us government pay off their fat ass debt.

  17. LackofRyan says:

    But it kinda sucks being middle class. . . receiving no aid at all.

  18. Klonis Archer says:

    This is exactly why we want Bernie Sanders or Elizabeth Warren for President. They want to get rid of this shit completely. College education was free 45 years ago. The federal government wastefully spends our tax dollars on war and ridiculous things. I am not repaying my loans until they stop war and give a shit.  

  19. Jon Jennings says:

    I hate debt.

  20. Bryan Geonzon says:

    This video forgot to add.
    "YOU CAN NOT DECLARE BANKRUPTCY IF YOU'RE UNABLE TO PAY THE LOANS." 

  21. porygonL says:

    I am going to die ._.

  22. spaceisnothing says:

    and thus my enslavement begins

  23. Deondre Reynolds says:

    Yup

  24. MegaZeroX7 says:

    Got to love the condescending tone of this guy.

  25. David Wallach says:

    It'd really kill them to just lower tuition, wouldn't it.

  26. sLicKezT72 says:

    I DECLARE BANKRUPTCY!!!! – Michael Scott

  27. GameNut321 says:

    Getting ready for college is pretty overwhelming… trying my best to stay focused

  28. Calvin Ware says:

    Instead of profiting of the misery of a generation racked with massive expenses and debt, how about you vampires in congress make education free for all people.

  29. Oskar Schlangengift says:

    And this is why I decided to major in Bioengineering.

  30. DJPelio says:

    American education system is so broken….

  31. hotneo7 says:

    The problem isn't the borrowing…Americans are good at borrowing. The problem is the loan that incentive for colleges to jack up costs even more. Why are colleges charging more for education when at a time the degrees are next to worthless that can't get a job? Seems like too many sheeple are getting slaughtered when they should rethink education. The amount of money spent could be used to put it all on the Internet for free and have it accredited, that should make colleges lower their price if there was competition. Why buy music and movies when you can download it for free? Eventually education like Hollywood will have to face reality and change their business model when education is offered for free online. The people spending money now or have borrowed are suckers.

  32. roderick thompson says:

    having enough money for community college is very important and I need to be careful when I borrow for community college

  33. Dan McGregor says:

    Elizabeth Warren (the Democratic Senator from Massachusetts) proposed a bill that would allow students to refinance their loans at the historically low interest rates we have had.  Republicans would have none of it because it would have eaten into the corporate profits of those lenders benefiting from the providing the loans.  These same lenders who want to charge the higher rates also don't want students to be able to include student loans in bankruptcy.  They want it both ways. All the rewards without the risks.  Surprise surprise.

  34. Geldorf Mcleod says:

    What about responsible lending? 

  35. SlickJ 95 says:

    I'm not sure how accurate this is but I remember looking up how much federal funding went into education and it was only 2%!

  36. jesse mckay says:

    going to study and get ready good luck looking forward to oct 5

  37. Janet King says:

    Yes, I agree that student loans may be the only way to attend college. Also, you need to be careful and only take out the loans necessary and no more.

  38. Hand Banana says:

    Fuck this piece of propaganda

    Student loans shouldn't be encouraged at this point in time

  39. Ravenous Wolf says:

    Attention youth of America! if you cant afford college you have 3 options:
    1. join the military for the post 9/11 G.I bill, so that you can afford college after service.
    2. Get a minimum wage job that you might get by on if you don't have a family.
    3. Take out a fuck ton of student loans and pay them back over the next 10 years of your life.
    Secret option number 4. get born into a rich family that can pay for your college.

  40. Henry Gambing says:

    Be a Good and resposible go a  long way , 

  41. Gureen Turee says:

    10 years or more? The loan companies only allow 4 years and want $1,000 a month.,..

  42. laprechaun12 says:

    Why did I feel like crying at the end of this video? 🙁

  43. Sam Sloan says:

    They make it look so easy and friendly. They welcome you with loving arms. They show their true colors, however, once they have you trapped in those arms.

  44. Anne Bradley says:

    THERE IS NO RESPONSIBLE ADMINISTERING BY THE PARTIES OF THE LOAN, FOLKS!!!  THERE ARE AT LEAST THREE PARTIES TO A FED LOAN – THE SCHOOL, THE STUDENT, AND FED LOAN.  THEY DO A LOT OF CORRUPTED THINGS, BREECHING THE LOANS, AND  SAY TOO BAD!

  45. Luigi Valdivieso says:

    got it.

  46. Kathrine Cardona says:

    I work four jobs and can't make it.  I am going back to school with the hopes of getting a higher paying job helping people.  If I can make a difference in one persons life then its all worth while.

  47. Judith Apte says:

    I live abroad but im american and seriously its amazing how other countries treat their university students. In australia all permanent residents/citizens are applicable for a commonwealth supported place where the government pays for 50% of your tuition. Australian citizens like my friends all be getting no interest loans that only require repayment when their salaries exceed 50,000 (and even then they pay a small amount in their taxes over the years so they dont get hit financially). Meanwhile the US government is out here acting like its the 1850s and going to university should be only for rich people, and us filthy poor people shouldnt even think about dirtying the hallowed halls of a tertiary institution

  48. Humberto Ventura says:

    Haha damn now I'm thinking about my future more then before. I'm going to cry.

  49. Jimmy Rustles says:

    College is 80% scam, and other 20% actual paying Technical/medical field. Choose wisely.

  50. monolyth421 says:

    Fuck the rich.

  51. monolyth421 says:

    Fuck the rich.

  52. Brian DelGiudice says:

    Come and get me.

  53. Benjamin Shive says:

    Isn't it wonderful how the government uses it's citizens secondary education as a way to make money rather than see it as a social investment. America sucks.

  54. scribbler of dreams says:

    we're all screwed. 😀

  55. Valerie P says:

    Or I could just move to Germany, and go to school for free.

    Sort of.

  56. DJDEMO1000 says:

    Man, fuck school.

  57. Wes Wilmers says:

    If the investment in yourself and your future isn't worth it – then don't do it.  Otherwise, be grateful for the opportunity and make the most of it.

  58. Kstan says:

    yayyyy time to sell my soul. hello death called student loans

  59. Taylor Turner says:

    If only borrowing was as easy as this video makes it look. Basically since I'm not rich enough to pay for school and not poor enough to get the grants I need, I will paying off loans for college for the next decade(s). Would it kill colleges to lower tuition? I shouldn't have to be penalized for wanting to further my education in order to prepare for my future career.

  60. Coffey says:

    Lol. "All daisies guys don't worry about it!" – Government

  61. Black Majik says:

    Yea, somehow I got duped into owing $20k and I did not do but a year and a half of courses … I want a refund. I cannot even get a transcript for the schooling I have done.

  62. Andrea Hughes says:

    "This degree is so important to me. So whatever I borrow to help me financially, It will be done with caution and invested in my career and education.

  63. Alejandro Santana says:

    I'm train to fill out the application, but is not working on word,

  64. Chris says:

    good luck everybody, hope you all get six figure jobs so you can help pay my social security😁 Im going to be a teacher so this video does not help me at all, teachers don't make shit but end up producing future billionaires, so sad😢.

  65. Maia Lesperance says:

    Someone kill me.

  66. hebro mane says:

    Fuck the system.

  67. amihart says:

    My yearly expenses for a public college is almost 20k but then I'm only allowed to take out 7k in student loans?
    Dude my private loans are through the roof! rip me lol

  68. H says:

    "Don't worry, financial aid and loans are easy to pay off, and you'll be fine!"
    lmao don't lie to me.

  69. sakura says:

    Federal loans hurt, but private ones….. your life's end

  70. KOBAANNI. says:

    expected more views on this video.

  71. Miss Myth says:

    This was actually really helpful thanks!

  72. せぅヴぇstろいt says:

    what about audio books are these commercial free whom is who has libraries opened?

  73. Bertha Lovejoy says:

    you're all vampires

  74. Ness Plays says:

    FUCK YOU FUCK YOU FUCK YOU

  75. Curtis W says:

    "Oh the Place you'll go if it weren't for Student Debt, Classism, & Wage Labor"
    Thanks Capitalism, Neoliberalism, and Neo-Feudalism what would we do without you?

  76. PredyJessica says:

    Thank god I'm only borrowing less than 1k

  77. Matt Meatball Mitrione says:

    Glad we spend what, 800 billion a year on our military, but cannot offer 0% interest rates on EDUCATION.

  78. Brenda Madrigal says:

    Fuck you student aid… your liars.

  79. Blaine Martens says:

    Community College and a part time job equals no debt. Pay as you go.

  80. Zackary Gomez says:

    I cannot claim to be a responsible borrower but I found a governmental job that might qualify for loan forgiveness.

  81. C C says:

    Never mentions that the debt in not extinguishable in a bankruptcy. You owe it no matter what. Debt slavery at it's worst.

  82. weetzybat says:

    Pennywise
    http://thebootydiaries.tumblr.com/post/160030866902

  83. Vanessa Houston says:

    Vanessa I have a loan and I promised to pay for the loan but somehow the taxes got backed up and there still holding the money my credit is still going up its up to 300.00 now Now they are saying something about another location for the deposit what do I do and what is this about rerouting the money exchange What next.

  84. Donna Serfass says:

    I HOPE I CAN DO THIS!!!!

  85. lydiabusarow says:

    10/10 would go into unending piles of debt again

  86. Natalia Jackson says:

    Thanks for all the help! 2017!!!

  87. Vanessa Guevara says:

    ok

  88. qtpie says:

    Love how non of you in the comments understand basic economics. Perhaps you should use some of your loan money to take a course in macro economics..

  89. Kimberly Everson says:

    I'm so ready for this

  90. The Fabsisters says:

    like!

  91. Kira Diestler says:

    Excited to go back!

  92. RSAUTOSWITCHER_COM says:

    Great video dude

  93. ALTERING-ALLITERATION says:

    who's jewing who anymore?

  94. netsaosa says:

    just fuck my shit up fam

  95. Iris Castro says:

    It is a good idea to make monthly interest payment that way by the time you graduate and need to start paying back the loan. You have paid down considerably.

  96. Jasmine Lentz says:

    Indentured servitude.

  97. Jacqueline de la torre says:

    someone who has asked for a loan of money that can tell me how long it takes to approve and give the money?

  98. SuckMy SpinningBalls says:

    You guys could lower tuition. People shouldn't have to be afraid to further their education in a country like the United States. Even Algerians don't have to worry about this ridiculousness. Education should be the primary focus of any country, especially first-world nations. Everyone benefits when citizens of a nation are educated.

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