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I started when she was in kindergarten. i was very young when i had her. i did not know she was going to go on for her masters. i wasn't prepared for that. i did not know she was gonna want to go to law school. but when she told me about it, i just encouraged her. yes, okay, great. what do you need to do? - what marcella's daughter needed to do was take out a $46,000 loan. - i'm trying to work as hard as i can. because then after she finishes, it's gonna be over $200,000. - wait a minute. marcella started out with a $46,000 loan and now it's $200,000? - most of my salary is going into paying o...

But even with that, after four years of residency, i'm gonna basically be in $50,000 more debt. - i've talked to people where they say, i've been paying my student loans for years. i've been making all my payments. i've been doing it on time. and yet, i owe more now than i did at the beginning. what is that? - that is the phenomenon of compounding interest. - okay, let's stop here for a second, because compounding interest can be pretty tricky to understand. here's what you need to know. while most loans make you pay a small amount of interest, compounding interest charges you interest on inte...

But then there are also, -- that are dealing with this. >> absolutely. ghost go both ways. and a couple different ways. one, is people who took out loans for their own education, ten, 20, 30 years ago whether it was for undergrad or grad school are still dealing with these horrible loans that have really high interest rates. this is compounding interest, if you missed a few payments they will compound your interest which basically means we're paying interest on the interest. so these things out of control. another way to do that this affects older people is you, of parents and grandparents wer...

I'm gonna basically be in $50,000 more debt. - i've talked to people where they say, i've been paying my student loans for years. i've been making all my payments. i've been doing it on time. and yet, i owe more now than i did at the beginning. what is that? - that is the phenomenon of compounding interest. - okay, let's stop here for a second, because compounding interest can be pretty tricky to understand. here's what you need to know. while most loans make you pay a small amount of interest, compounding interest charges you interest on interest, making your balance grow exponentially and qu...

That. but it was immediately challenged by conservative opponents and they kept losing in court, does opponents. but they finally did find a judge who agreed with them. so now the biden ministration is appealing this and it is going to go to the supreme court next year. and i don't have to tell, you zinhle that you don't have to necessarily side of the administration to see the problem. >> and i just another takeaway. we see that this doesn't necessarily hit everyone the same way. you spoke to people of all different backgrounds, creeds, race, ethnicity's. what is one of the biggest takeaway f...