This Group Is Defaulting On Their Student Loans Intentionally | NBC Nightly News


LOANS IN PROTEST. AS NBC REPORTS, THAT DECISION COMES WITH AS NBC REPORTS, THAT DECISION COMES WITH SOME SERIOUS RISKS. DECISION COMES WITH SOME SERIOUS RISKS.>>Reporter: THIS SOME SERIOUS RISKS.>>Reporter: THIS STACK OF PAPER –>>Reporter: THIS STACK OF PAPER –>>I RECEIVED THESE STACK OF PAPER –>>I RECEIVED THESE LATE LAST WEEK.>>I RECEIVED THESE LATE LAST WEEK.>>Reporter: — IS LATE LAST WEEK.>>Reporter: — IS WORTH MORE THAN>>Reporter: — IS WORTH MORE THAN $80,000 IN COLLEGE WORTH MORE THAN $80,000 IN COLLEGE DEBT. $80,000 IN COLLEGE DEBT. WHEN YOU GET THESE, DEBT. WHEN YOU GET THESE, WHAT DO YOU DO WITH WHEN YOU GET THESE, WHAT DO YOU DO WITH THEM? WHAT DO YOU DO WITH THEM?>>I PUT THEM IN A THEM?>>I PUT THEM IN A PILE AND WAIT TO SHRED>>I PUT THEM IN A PILE AND WAIT TO SHRED THEM. PILE AND WAIT TO SHRED THEM.>>Reporter: BUT MARK, THEM.>>Reporter: BUT MARK, WHO ASKED US NOT TO>>Reporter: BUT MARK, WHO ASKED US NOT TO USE HIS REAL NAME FOR WHO ASKED US NOT TO USE HIS REAL NAME FOR PRIVACY REASONS, SAYS USE HIS REAL NAME FOR PRIVACY REASONS, SAYS HE’LL NEVER PAY IT. PRIVACY REASONS, SAYS HE’LL NEVER PAY IT. IS THIS A PROTEST? HE’LL NEVER PAY IT. IS THIS A PROTEST?>>IT’S DEFINITELY A IS THIS A PROTEST?>>IT’S DEFINITELY A PROTEST.>>IT’S DEFINITELY A PROTEST.>>Reporter: PROTEST.>>Reporter: PROTESTING WHAT?>>Reporter: PROTESTING WHAT?>>THE EGREGIOUS PROTESTING WHAT?>>THE EGREGIOUS DEBTS, THE PRIVATE>>THE EGREGIOUS DEBTS, THE PRIVATE INDUSTRY, ALL OF IT. DEBTS, THE PRIVATE INDUSTRY, ALL OF IT.>>Reporter: HE’S PART INDUSTRY, ALL OF IT.>>Reporter: HE’S PART OF A GROWING ONLINE>>Reporter: HE’S PART OF A GROWING ONLINE COMMUNITY OF DEBT OF A GROWING ONLINE COMMUNITY OF DEBT DEFALTERS. COMMUNITY OF DEBT DEFALTERS. THEIR GOAL, TO SPARK A DEFALTERS. THEIR GOAL, TO SPARK A NATIONWIDE DEBT THEIR GOAL, TO SPARK A NATIONWIDE DEBT STRIKE, DRAWING NATIONWIDE DEBT STRIKE, DRAWING ATTENTION TO THE STRIKE, DRAWING ATTENTION TO THE NEARLYNEAR ATTENTION TO THE NEARLYNEAR LI NEARLYNEAR LI NEARLY 45 MILLION LI NEARLY 45 MILLION AMERICANS WITH STUDENT NEARLY 45 MILLION AMERICANS WITH STUDENT LOAN DEBT, AND SINCE AMERICANS WITH STUDENT LOAN DEBT, AND SINCE EACH STATE HAS A LIMIT LOAN DEBT, AND SINCE EACH STATE HAS A LIMIT ON HOW LONG A CREDITOR EACH STATE HAS A LIMIT ON HOW LONG A CREDITOR CAN TRY TO COLLECT ON ON HOW LONG A CREDITOR CAN TRY TO COLLECT ON PRIVATE LOANS, MARK CAN TRY TO COLLECT ON PRIVATE LOANS, MARK SAYS IT’S A FIGHT THAT PRIVATE LOANS, MARK SAYS IT’S A FIGHT THAT MAKES FINANCIAL SENSE. SAYS IT’S A FIGHT THAT MAKES FINANCIAL SENSE.>>IF I WERE TO MAKES FINANCIAL SENSE.>>IF I WERE TO DEFAULT ON A PRIVATE>>IF I WERE TO DEFAULT ON A PRIVATE LOAN, THEN MY RATE DEFAULT ON A PRIVATE LOAN, THEN MY RATE GOES DOWN TO 15% TO LOAN, THEN MY RATE GOES DOWN TO 15% TO 25% OF MY INCOME. GOES DOWN TO 15% TO 25% OF MY INCOME. THAT’S WAY MORE 25% OF MY INCOME. THAT’S WAY MORE REASONABLE THAN $2,400 THAT’S WAY MORE REASONABLE THAN $2,400 A MONTH. REASONABLE THAN $2,400 A MONTH. THAT’S DOUBLE WHAT I A MONTH. THAT’S DOUBLE WHAT I SPEND TOTALLY HERE. THAT’S DOUBLE WHAT I SPEND TOTALLY HERE.>>YOU STILL HAVE ONE SPEND TOTALLY HERE.>>YOU STILL HAVE ONE LAST OPPORTUNITY TO>>YOU STILL HAVE ONE LAST OPPORTUNITY TO RESOLVE IT. LAST OPPORTUNITY TO RESOLVE IT.>>Reporter: BUT RESOLVE IT.>>Reporter: BUT EXPERTS SAY THAT>>Reporter: BUT EXPERTS SAY THAT STRATEGY CAN COME WITH EXPERTS SAY THAT STRATEGY CAN COME WITH A HEFTY PERSONAL STRATEGY CAN COME WITH A HEFTY PERSONAL PRICE. A HEFTY PERSONAL PRICE. ESPECIALLY IF PRICE. ESPECIALLY IF COLLECTORS DECIDE TO ESPECIALLY IF COLLECTORS DECIDE TO SUE. COLLECTORS DECIDE TO SUE.>>WORST-CASE SCENARIO SUE.>>WORST-CASE SCENARIO IS YOUR CREDIT IS>>WORST-CASE SCENARIO IS YOUR CREDIT IS RUINED FOR AT LEAST IS YOUR CREDIT IS RUINED FOR AT LEAST SEVEN YEARS OR LONGER, RUINED FOR AT LEAST SEVEN YEARS OR LONGER, YOUR BANK ACCOUNTS ARE SEVEN YEARS OR LONGER, YOUR BANK ACCOUNTS ARE FROZEN, YOUR WAGES ARE YOUR BANK ACCOUNTS ARE FROZEN, YOUR WAGES ARE BEING GARNISHED, THE FROZEN, YOUR WAGES ARE BEING GARNISHED, THE INTEREST IS ACUEING BEING GARNISHED, THE INTEREST IS ACUEING AND YOU CAN’T SELL OR INTEREST IS ACUEING AND YOU CAN’T SELL OR BUY YOUR HOME. AND YOU CAN’T SELL OR BUY YOUR HOME.>>WE NEED DRAMATIC BUY YOUR HOME.>>WE NEED DRAMATIC REFORM.>>WE NEED DRAMATIC REFORM. I SEE POSTS ALL THE REFORM. I SEE POSTS ALL THE TIME WHERE PEOPLE ARE I SEE POSTS ALL THE TIME WHERE PEOPLE ARE CONCERNED ABOUT, WELL, TIME WHERE PEOPLE ARE CONCERNED ABOUT, WELL, SUICIDE MIGHT BE MY CONCERNED ABOUT, WELL, SUICIDE MIGHT BE MY ONLY OPTION. SUICIDE MIGHT BE MY ONLY OPTION. IT’S OVERWHELMING. ONLY OPTION. IT’S OVERWHELMING.>>Reporter: WHAT SOME IT’S OVERWHELMING.>>Reporter: WHAT SOME SEE AS A SHRED OF HOPE>>Reporter: WHAT SOME SEE AS A SHRED OF HOPE AMID A NATIONAL

100 comments on “This Group Is Defaulting On Their Student Loans Intentionally | NBC Nightly News”

  1. Dani Mark says:

    Not fair to former students like me who religious paid off my student loans, getting 2-3 jobs so I'm debt free. These are free loaders! Hate people like these Lazy!

  2. SuperModel Atlanta says:

    im one of them…i.owe 20k went 30k & refuse to pay

  3. meg ortiz says:

    frick en navient collections

  4. meg ortiz says:

    im disabled frick their interest

  5. John Kidd says:

    You voluntarily entered into a loan, now you whine that you shouldnt have to pay. Whats next, refuse to pay taxes, contribute to social security? But of course you will want all the benefits that others get. Selfish generation.

  6. Rockinghorse Winner says:

    ↓SOCIALISM

  7. David Ellis says:

    You " Borrowed " The 💸, so you should payback the 💸.

  8. Anna Durkee says:

    college students who insist on not paying college loans are irresponsible and childish..If college is too expensive for u than find another career ..students who grad from a trade school are making more money than college students and get jobs rt out of school versus college students who r still living in parents basement and working at target.

  9. SDF SDF says:

    This is your typical Democrat.

  10. Steven Loweg says:

    Looks like he’s eating well

  11. Mys Led says:

    I never knew that I have already been taking part in this protest!

    But I thought you can't legally escape paying off your student loan debts. They have no statute of limitations as well as filing for bankruptcy won't eliminate that debt.

  12. Tim King says:

    Democrats,,,, pack of losers. I pay my bills,not yours !

  13. Andrew Cook says:

    That sounds pretty stupid. When you took the money you now what you are getting into grow up. What's next i don't want to pay my rent but im going to keep living here. This should not be on the news.

  14. jake sharp says:

    Don't want the debt, don't go to college. Yeah it's expensive but you chose to take on the debt for your education and now you have to pay it. You might want to start making those big bucks with your fancy piece of paper and not just sit in debt for the rest of you life. Or serve in the army like i am, my education will be free.

  15. S Ash says:

    Not all millennials are like this. I owed 30k after graduating in 2016 and paid it off in 3 years. And I live on my own in LA. No excuses! And My degree is in worthless psychology

  16. fortunateson6035 says:

    Sure looks he could spend some money paying bills instead of eating

  17. Jesse H says:

    Better off if they quit filing and paying their taxes. If illegals can do it then why not. They can't arrest every citizen

  18. sun dial says:

    Waiting to be bailed out by Bernie

  19. Donald Souillet says:

    First I went to a college where the teacher didn't show up for 25% of the course, really. Then I gave up school, but still found a job in my field of study (I don't know how I pulled that off), then I paid my student loans off after 15 years approx., maybe longer (I had to take some really nasty, hard, dangerous and injurious jobs) . Now as an older fellow I realize being honest, and good; works against you. I have no regrets as I value my morality, and ethics over defaulting on a loan, but with this said, money lenders will financially devastate you with interest.

  20. M S says:

    Got to love 1st World Problems of Self-Indulgence

  21. Dre Paris says:

    Thanks fellow millennial, albeit I agree with you higher education is way too expensive for anyone and is unfair and needs to be addressed. With that said you borrowed the money you went to school you need to now pay it back. Stop feeling sorry for yourself and get to the gym find a job and pay it off. in the end it’ll teach you a lesson.

  22. Alden Buyer says:

    being a deadbeat is now called "protesting". Gotta love the left.

  23. Cranjis McBasketball says:

    I don't agree with this. It may very well hurt future applicants.

  24. James Cronin says:

    We give Israhell $50 Billion in aid each year. They already have UNIVERSAL HEALTH CARE and UNIVERSAL FREE HIGHER EDUCATION. What's wrong with this picture? The GOP wants citizens to be ignorant and/or deep in debt.

  25. mojoe Lindell says:

    I am a Democrat and I refuse to pay one more debt

  26. MISERABLE1947 says:

    THESE STUDENT LOANS ARE GUARANTEED BY THE FEDERAL GOVERNMENT WHICH MEANS IF THE STUDENT DOESN'T PAY THE FEDERAL GOVERNMENT PAYS THAN GOES AFTER THE STUDENT. IF I AM CORRECT THE FEDERAL GOVERNMENT SELLS THESE LOANS TO COLLECTORS FOR PENNIES ON THE DOLLAR AND COLLECTION AGENCIES GO AFTER THE STUDENTS. THEY CAN CHECK THE RECORDS OF THESE STUDENTS AND PUT LIENS ON ANY PROPERTY THESE STUDENTS MIGHT OWN.

  27. 4rmDEC2FRE says:

    but farmers get billions in welfare….

  28. Soldierboy54b says:

    "Private industry?" College loans were nationalized early in the Obama administration.

  29. vogmar1 says:

    You signed up for the loan, then you agree to pay it back.

  30. Mansa Musa says:

    But it's ok to file bankruptcy 7 times? Those student loans were predatory. Giving predatory loans to 18-year-old kids. Some of those kids who go to college are from poverty and have no understanding of finances. Most kids don't. If Trump can write off hundreds of millions, then they should be able to write off a few grand. Not like they stole 40 million like Manafort did and started buying tiger skin rugs with it. Idiots don't have a problem with that though.

  31. Conjurer Woman says:

    You got to love young people! lol!

  32. Conjurer Woman says:

    If the White House Occupant was allowed to go bankrupt 5 times on corporate and personal debt, why shouldn't student debt be included in Bankruptcy? Republican Reagan took that option away from students.

  33. Gamer Historian says:

    I would rather join the miltary..

  34. zenna86442 says:

    I took out 2 student loans and payed them both off did I want to no was it fun paying them off no was it hard yes but when I made the last payment I did the dance and I jumped up and down in joy that I fulfilled my comittment to pay a debt that I went into with eyes wide open to the fact I would have to pay fair or not I got the education i got the money it wasn't given to me for free you melinnials better wake up your future is not looking so good if you think you can get everything for free you will soon be living in a 3rd world country

  35. Ric Childress says:

    I see this student did not major in accounting.

  36. Ethan Allen says:

    Aggregious debts?
    ..You signed a deal.

    Protest?
    ….Criminal.

  37. roy dunn says:

    His math makes sense and the punishment for not paying is better than actually killing yourself just to keep up with interest payments. I can't agree with it in principle but it is the smarter move.

  38. Edward Branca says:

    Every medical bill that I get goes into the garbage.

  39. CGFields says:

    Millennial scum bag 🖕🏾

  40. Leon Lan says:

    "Suicide is the only option" The generation that wants everything for free and would rather suicide than work to pay off the loans.

  41. Ragdoll B says:

    Then you shouldn’t have gone to an 80,000 dollar school. If you signed a contract, pay it back! If you don’t, then Go directly to Jail. Do not pass Go. Make an example out of him, and other will pay back their loans, or face the same fate… Get some Integrity Man!

  42. TeachingTheCode says:

    NBC muted yang

  43. thomas glandon says:

    Dont take money you cant pay back.

  44. Prometheus says:

    Anyone who agrees that higher education is way too expensive, yet turns around and says that people should pay off their student loans, is a hypocrite.

  45. royston mason says:

    BERNIE SANDERS 2020

  46. Mysticky Clips says:

    Omg suicide is his only option, we need to pay all his bills so nobody learns from mistakes. What a man.

  47. J R says:

    Look at this fat slob. Waits until his student loan approaches 6 digits to realize he can't pay it back

  48. 3D-PT says:

    You can cry all you want about your loans, but when it defaults you just gave a debt collector and lawyers a bullseye on you. The fact you appeared on tv refusing to pay is a dare for breach of contract, and you are still liable for the debt. Have fun in court while they chew you up for being a deadbeat.

  49. Mary Rodger says:

    When I was young in California, we paid a tuition fee that was relatively small and bought used books…in other words it was considered free. Since my time the price has grown at an astounding rate. Ask yourself who is getting the money, then look at the campus president and the others that are up the ladder. Associate professors certainly aren't getting any of that. Then watch the network and cable news and then realize that when those talking heads finally leave then guess what, they somehow or other become 'experts' and are GIVEN teaching positions when teaching anything was never their field of expertise leaving the associate professors out of the loop.

  50. Larry Shores says:

    Rediculas

  51. Steve Garcia says:

    i paid my student loans. took my about 5 years in to my career but i paid them off. these millennials today are spoiled. trump 2020.

  52. John V says:

    The fat man child can’t take care of himself. This is the future of the USA

  53. pearl lee says:

    My student be loans got lost after the 1st bank sold them. Banks were selling them, wall Street was selling them on bundles & splits. I kept my original records. 1 day a private investigator called. Working for a debt collector & that company was trying to fix a mess they purchased they actually worked with you. They told me what happened to my loans. It wasn't my fault, I paid for a while. Washington state wouldn't give me emergency assistance because I refuse to skip my student loan payment. I later got offered to consolidate at lower interest. But sometime later I default and it was my fault, Deutche Bank had my loan. I couldn't work with them. someone got my be loans away from them to a company local that I could meet with. So we signed the deal. I have been paying again ever since. Yes it is a lot more due to commulative interest but I signed those original loan papers. There are student loan debt collector companies that will work with you.

  54. cocofluff says:

    He should be arrested. He will never have anything to seize he's a louse. Don't take out loans you do not intend to pay back. That's theft! No one forced him to borrow that money.

  55. Kaleb Tittle says:

    A national crisis….😒

  56. pearl lee says:

    I have paid on my student loans while on welfare as well. There are options.

  57. Christopher Lincoln says:

    Meanwhile our MAGA president can file bankruptcy multiple times be considered a business man and run our country. There does need to be some kind of solution.

  58. Lisa Ann Smith says:

    Navient can garnish your income taxes….they did it to my sister.

  59. onceANexile says:

    Don't take the loans. Period.

  60. Goddessmoon Lovechild says:

    How f$#%ing irresponsible now that you have spent the money you don't want to pay it back..I pray every debt collector rolls on you!!!!

  61. Stephen Beans says:

    So "mark " is a thief

  62. C M says:

    Default just like Donald Trump's defaults on bankrupt businesses!

  63. TheDesert IsPatient says:

    What a BS excuse. I busted my axx in college and paid all my loans. They should go after this guy w/ everything they got. In other words he was glad to rob the banks so he could hang out in school.

  64. Blake Priddy says:

    Boomers mad

  65. Dale D. says:

    If you won't repay the lender, then don't take the loan in the first place! You are stealing money from little old ladies who rely on income from lenders to pay their monthly rent. That money came from regular people – regular people own stock in companies that take risks making loans to yet-to-be-educated students. Their breaking of their promise to repay the loan (no one forced them to take the loan!) will indirectly, over time, make it much much harder for future (honest, hard-working) students to get loans. Selfish little pr*cks.

  66. Dale D. says:

    I would understand if he could not afford to pay the bill, but it appears that he can pay the bill.

  67. Alexander The Great says:

    If college didn't charge so much maybe it would be easier to pay back loans.

  68. Poe Lemic says:

    Kudos to him. I'm doing same thing. My loans started at $70k, but they became locked in by Fed deciding to change rates to 8.5%. Now, they're $300k. I'm not ever going to pay a cent anymore …

  69. Ox Alek says:

    Liberal deadbeats.

  70. Trump's Neck Vagina says:

    a lot of college educated Americans are moving to other countries to avoid student loan debt.

  71. thomas glandon says:

    poor people dont go to college , join the 82 Airborne and go to school free.

  72. kfk256 says:

    Oh great! So….the rest of us should pay to bail you out!

    So irresponsible! You should have thought about all this when you were acquiring these loans. Trying to eat your cake and have it?! No way!

    I hope the creditors come at these so called "protesters" with all the enforcement powers available to them.

    Be responsible and pay what you owe! Cry baby!

  73. Poe Lemic says:

    Most of us have no clue how this works. I used to pay $1800/month on mine (seemed like forever nad my balances didn't hardly go down at all), but I just realized I can't anymore. So, I just woke up one day and let them sue me or take me to court. I'll just file bankruptcy on them. I don't care anymore. Worst case — I'll leave US and locate where they can't find me. I'm not gonna pay ONE MORE PENNY on my damned student loans.

  74. Dewani Theriault says:

    Pay up you deadbeat. You signed on the dotted line and received your education.The transaction was completed. Its called personal responsibility.

  75. Joanne Zarogiannos says:

    No one told him to go to college and get a student loan. His credit will ruin. Also, his wages would be garnished. Also, they could take away his social security income when he gets old. You cannot payback your loans. No one told you to take out the loan in the first place.

  76. Article Twelve says:

    i havent made one payment …. lol

  77. Areu Kiddingme says:

    SUE! SUE! SUE! Can't make his payments with is gender studies degree?

  78. Maliza Heng says:

    Go to a cheaper school like community college, if you think you can't afford it. Stop being irresponsible. I owed 40k and i paid my student within 3 years living frugal with my parents. Now i bought my own house.

  79. Phuc Nguyen says:

    Meh, this dude probably uses his college loans to go party down in Cabo. He borrowed money to spend on things and now cry and refuse to pay it.

  80. Writing Board says:

    These students will collapse the banks!!! Oh, wait. According to the stock market, the banks are doing just fine.

  81. agricolaregs says:

    I’ve never had an issue with Naviant. Always polite and helpful.

  82. Benjamin Buckley says:

    Why isn't the supposed earnings bump from a college degree enough to enable these people to pay back the loans? It's as if college is a scam.

  83. Michael L says:

    Don’t borrow what you cannot pay..

  84. Daniel A says:

    What he doesn't understand is that the debt will get sold to another company before the time the debt can no longer be collected. They will also garnish your wages which can be up to 60% of your salary. The only way to get out of it is to leave the country and never come back.

  85. Refrigeration Technology says:

    They will just garnish your wages for a minimum of 18 months

  86. Conjurer Woman says:

    On a serious note, call Congress members and ask them to change the law blocking student loan bankruptcy that Reagan put into place. If you default on your student loans, the Government will pay the Lender and then come after you even in Retirement. They will seize anything in your name: Real Estate, Bank Accounts, Pay Checks, Stocks/Bonds and even 25% each month of your Social Security and Pensions! It is sad that big business and the wealthy can go bankrupt to save their wealth but students cannot.

  87. Coco Taveras says:

    It's admirable, especially since he and others are risking financial oblivion.

  88. Chris Lee says:

    He signed up for the debt, which makes you financially responsible.

  89. 100marymich says:

    Purposely defaulting on any loan is an asinine idea. Talk about ruining any plans for the future … that's the way to go to Deep-Six oneself for years to come.

  90. Tim B says:

    Easy, no more student loans.

  91. I.am.slower says:

    If they don't pay their student loans the degree they received with that money should become invalid.

  92. Sweet Lil Devil says:

    "We need dramatic reform" — Yeah, we need reform alright. We need to reform the way guys like this think and restructure the system to ensure they don't have access to credit.

  93. Lane8492 says:

    To these students pulling this protest, you may win the battle but you're going to lose the war.

  94. Peter Griffin says:

    Wow just wow lol 😂

  95. Nick Keith says:

    I did this. Borrowed $45,000 on private loan. I refused the repayment terms. Defaulted. 7 years later, it was deleted. It's all gone. Collectors couldn't touch me. I didn't pay on federal for many years. Suicide is a real option for a lot of us. #cancelstudentdebt #hr3438

  96. Nick Keith says:

    Want to get the facts. Go to Student Loan Justice #slexit is coming!

  97. fordfocuselectric says:

    Who even needs to go to school – why is 4+ years of expensive life-wasting a right or necessity? It's not – I'm sorry you've been lied to. Get out and get a job, learn some skills. If high school actually taught people anything, they'd have the skills to be resourceful. Everyone goes to college assuming it's needed – check out what the most profitable companies look for now – not a gold certificate, they look for someone who is teachable (aka – who knows how to learn!) not a mindless robot programmed by post secondary education

  98. Taylor says:

    Well guy you can join the military, become a police officer, firefighter, emt, work as an educator in certain districts, get a government job and they will forgive your student loans or offer some sort of assistance; or you can make yourself a budget and live frugal until you can pay back your debts. I know people will say things like serving isn’t for everyone but if it’s that overwhelming for you, you will find a way to pay them down. Stop saying you don’t have options.

  99. TheReluctantPolitical says:

    People this dumb should've never went to college in the first place

  100. Johnny Guerra says:

    I support your RIGHT not to PAYBACK. _Overprice College #

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