One trillion dollars. That’s the amount of
student loan debt that’s out there in America. And a lot of that borrowed money… it’s not
getting paid back. Hello? The class of 2014 will graduate with an average
student loan debt of thirty-five thousand dollars. Yeah, good luck with that. Mr. Williamson? Yes. Hi! This is Susie, from Prestigious Financial.
I’m calling to discuss your student-loan debt. … Hello? Hello? You’re not gonna get away
that easy. Hello? … This is for you. And, uh, it kinda
sounds important. Hi, Tom. How did you do that? She switched the area code. Many debt collectors,
they hire investigators whose job it is to find you. What … what are you doing in my kitchen?
Who are you? I’m baking. Do you want a brownie? What kind? No, no. That’s not what I meant
to say. Tom, Tommy, Tom Tom! We musta gotten disconnected. Apparently there’s an intruder in my apartment,
and he’s baking … brownies. Yeah, chocolate! We used to talk. You used to send us payments. I know. I know. Only about two out of five student-loan borrowers
are making timely payments. The others? They probably took on too much debt, debt you can’t
manage. That’s bad debt. What are we gonna do about this? Do we have to do something? If you don’t pay, we can garnish your wages. Maybe I’ll file for bankruptcy. Oh, no, you can’t. Student loans are not generally
dischargeable in bankruptcy. That doesn’t work. I don’t have any more money right now. I’m
only part-time. Do you have any idea of the penalty for not
paying? Anything you can sell? Not really. Some board games at my parent’s
house. Like Clue? Candyland. Candyland. Now that’s a good game. You should
hold onto that. But look: It’s just gonna get worse and worse. The rates will increase.
There’s already the fee from your loan going into collection. What are we gonna do about
this? I’ll sell some blood … and sperm. No one wants sperm from a guy who’s in default. I’ll crowdsource my loans. I’ll panhandle.
I’ll break dance on the subway. Whoa, whoah, whoa, whoa, whoa. Not just anybody
can learn to dance like that. It requires years of practice. … That took years of
practice. Every day you don’t send a check, it weighs
on your soul. I’ll keep calling until I get my money. I’ll rob my roommate. How much money does he have? His parents are loaded. Well, it would be wrong of me to convince
you to do something illegal. But…. Dot dot dot…. [Tom laughs nervously.] Who’s Dot Dot Dot? Oh, that’s an ellipsis, meaning…. Y’know
what? Figure it out yourself. Oh. Oh, oh, oh! Oh, hey! Hey! Oh, your phone.
I, I, I, I was just gonna… I forgot. Yeaaah… This is probably not gonna work
out. You… should probably… move… out. I was just… Dot, dot, dot! … [Sighs.]
Okay. Dude! Are those brownies? Total student-loan debt has quadrupled in
the last ten years. And, get this: Student-loan delinquency rate? That’s gone up by almost
50 percent in the last five years. A little forethought in college, including choosing
the right major…. Well, it could go a long way. If you had to guess, which major has
higher unemployment? Theater majors? Or… economics majors? If you guessed theater majors,
you’re wrong. The facts might surprise you. Don’t guess your way through college. Click
here to learn how to best prepare for your future.