Joe Rogan tore into the student loan system on an episode of “The Joe Rogan Experience,” calling it predatory and unfair. “It’s the one debt you cannot absolve in America even with bankruptcy,” Rogan said. “It’s a scam. It’s the dirtiest thing ever.”
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Rogan told his guest, British comedian Jimmy Carr, that many 18-year-olds simply don't grasp the long-term damage of taking on massive debt. “You’re too young to be connected to a $50,000 debt when you’re 18,” he said. “You don’t know what it means. The fact that it’s going to follow you around forever and haunt you… I think it’s evil.”
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Carr echoed Rogan’s frustration. “We missold people some bullsh*t degrees,” he said, and argued that people worked hard in college expecting stability and homeownership, only to find their degrees didn't deliver, especially those in non-STEM fields, referring to science, technology, engineering and math. He said the U.S. and U.K. should cancel student debt altogether, calling the situation deeply unfair to those who took a chance on higher education.
Carr added that while the U.S. resists the idea of socialism, Americans already accept it in things like fire departments and public education. “Everyone agrees, right?" he said. "If your house burns down, we’re going to have a fire service."
Rogan went further, criticizing corporate greed and arguing that publicly traded companies rarely do what’s right once profits are on the line. “They never go, ‘Guys, we’re doing great. If we just make this amount of money every year, like, that’s wonderful. Let’s do good,'” he said. “They never are satisfied.”
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College Grads Now Make Up A Quarter Of The Unemployed
Bloomberg reported recently that recent U.S. Department of Labor data shows a troubling trend in the U.S. job market. Americans with four-year college degrees now make up 25.3% of the country’s total unemployment. That’s more than double the level seen during the 2008 Financial Crisis.
Over 1.9 million college-educated workers aged 25 and older are currently unemployed. Among younger workers aged 20 to 24, the jobless rate has jumped to 9.2%, up 2.2 points in a year. The shift is being called a “white-collar slowdown,” and it’s hitting people who were once told a degree was the safest path to success.
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Venture capitalist Chamath Palihapitiya weighed in after the new data was released. He called for the U.S. government to stop backing student loans, saying the current system funnels people into “a financial quagmire they will never pay off to get a degree that increasingly has little to no value.”
With college grads struggling to find jobs and student debt weighing them down, the promise of higher education as a path to upward mobility is being questioned more than ever.
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