but that s not the only trick up their sleeve. a lot of fine print. it s overwhelming. maybe you make an underpayment one month and they pyramid your fees until you don t know it. if you default your wages can be garnished. they can come in and say we re taking 15% of their wages without any due process at all. they do the same thing with social security. so if you re a teenager signing the papers, why did you not listen to the adults in the room who were there to guide? you remember your guidance counselor? have a wreaked of coffee and pretended to know your name? i truly don t think guidance counselors, my parents, family, i don t know anyone that understood the true detriment. okay, blake, come and bring me that banana. stick the banana right in between the foot. like this? yes, position it the other way. oh, like this? right, but make sure that
they can inflate a loan. - what they do is, they give you the teaser rate to start. it s artificially low. - that s right. college lenders are using the classic first one s free move, used on everything from streaming services to cocaine or so i m told. but that s not the only trick up their sleeve. - it s a lot of fine print. it s overwhelming. - maybe you make an underpayment one month, and they pyramid your fees until you don t notice. - if you end up defaulting, your wages can be garnished. they can come in and just say, nope. we re taking 15% of your wages without any sort of due process at all. they do the same thing with social security. - so if you re a teenager signing the papers, why don t you listen to the adults in the room who were there to guide you? remember your guidance counselor, how they reeked of coffee and pretended to know your name? - i truly don t think guidance counselors, my parents, family, i don t know anyone that understood the true detriment.
from streaming services to cocaine or so i m told. but that s not the only trick up their sleeve. - it s a lot of fine print. it s overwhelming. - maybe you make an underpayment one month, and they pyramid your fees until you don t notice. - if you end up defaulting, your wages can be garnished. they can come in and just say, nope. we re taking 15% of your wages without any sort of due process at all. they do the same thing with social security. - so if you re a teenager signing the papers, why don t you listen to the adults in the room who were there to guide you? remember your guidance counselor, how they reeked of coffee and pretended to know your name? - i truly don t think guidance counselors, my parents, family, i don t know anyone that understood the true detriment. - okay, blake, come and bring me that banana. stick the banana right in between the foot. - like this? - yes. position at the other way. - oh. like this? - right.
from streaming services to cocaine or so i m told. but that s not the only trick up their sleeve. - it s a lot of fine print. it s overwhelming. - maybe you make an underpayment one month, and they pyramid your fees until you don t notice. - if you end up defaulting, your wages can be garnished. they can come in and just say, nope. we re taking 15% of your wages without any sort of due process at all. they do the same thing with social security. - so if you re a teenager signing the papers, why don t you listen to the adults in the room who were there to guide you? remember your guidance counselor, how they reeked of coffee and pretended to know your name? - i truly don t think guidance counselors, my parents, family, i don t know anyone that understood the true detriment. - okay, blake, come and bring me that banana. stick the banana right in between the foot. - like this? - yes. position at the other way. - oh. like this? - right.
there s a whole series of gimmicks played in the industry that attempt to cloud what the actual picture looks like. - the lenders become very creative in how they can inflate a loan. - what they do is, they give you the teaser rate to start. it s artificially low. - that s right. college lenders are using the classic first one s free move, used on everything from streaming services to cocaine or so i m told. but that s not the only trick up their sleeve. - it s a lot of fine print. it s overwhelming. - maybe you make an underpayment one month, and they pyramid your fees until you don t notice. - if you end up defaulting, your wages can be garnished. they can come in and just say, nope. we re taking 15% of your wages without any sort of due process at all. they do the same thing with social security. - so if you re a teenager signing the papers, why don t you listen to the adults in the room who were there to guide you? remember your guidance counselor, how they reeked of coffee and