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Are adults that we're talking about. they need to realize that when they take out that debt, they are liable to pay it back. >> someone might say, listen, you took out a long, you pay it back. it's simple. don't be irresponsible. what do you say to that? >> i think i would've said that totally makes sense. eight years ago when i was 17. >> let's not forget, these are kids being told to sign on the dotted line. no parental consent necessary. >> my 17-year-old self was very unprepared for all those details. >> but some in the media say that's no excuse. >> the students do exactly what they were ...

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 proc...

And they need to realize that when they take out debt that they are liable to repay that debt. - someone might say, listen, you took out a loan. you pay it back. it's simple. like, don't be irresponsible. what do you say to that? - i think i would have said that totally makes sense eight years ago when i was 17. - let's not forget. these are kids being told to sign on the dotted line. no parental consent necessary. - my 17-year-old self was very unprepared for all of those details. - but some in the media say that's no excuse. - the students knew exactly what they were getting into. - you knew...

And they need to realize that when they take out debt that they are liable to repay that debt. - someone might say, listen, you took out a loan. you pay it back. it's simple. like, don't be irresponsible. what do you say to that? - i think i would have said that totally makes sense eight years ago when i was 17. - let's not forget. these are kids being told to sign on the dotted line. no parental consent necessary. - my 17-year-old self was very unprepared for all of those details. - but some in the media say that's no excuse. - the students knew exactly what they were getting into. - you knew...

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 not...