Student tips for using Mastery Goals on Khan Academy

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Language: en

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- [Instructor] Hello and welcome

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to our video on mastery goals.

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(light music)

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Let's review a few tips to
ensure you are making the most

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out of your learning experience

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while working on Khan Academy.

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First, let's make sure you're logged in

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to your Khan Academy account

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by checking for your name in
the upper right-hand corner.

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Now, on the left side,

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you should see your classes

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where your teacher has
given you a mastery goal

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or an assignment to work on.

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Click on the tab that says Mastery goals

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to view the goals your
teachers have set for you.

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Now that you're viewing and focused

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on your learning goals,

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let's discuss the top five strategies

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for mastering goals on Khan Academy.

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Number one: your mastery
goals are important goals

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set by your teacher.

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On your learner home page,

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you can track your progress
toward the mastery goal,

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along with the due date
your teacher has assigned.

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Simply click on the mastery goal

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to access the course home page.

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Here, you'll find the course units

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and your progress towards
mastering each unit.

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Keep an eye on the purple bar
that fills from left to right

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as you progress through each unit.

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Regularly check your unit progress

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to ensure you're on track
to achieve your goal.

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Click into a unit to
see your mastery level

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for each skill on the left-hand side.

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Aim to earn a crown for every skill

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and move your mastery level to mastered.

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Next, embrace time and practice.

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Mastery requires time and practice.

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As you practice skills
and answer questions,

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your mastery level for
each skill will rise

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with correct answers and
decline with incorrect ones.

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If you wish to accelerate your progress,

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consider trying a mastery challenge.

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These challenges allow you
to reinforce the skills

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you've already practiced through

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through six focus questions.

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Remember, mastery is a
meaningful achievement,

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and the effort you put in to reach it

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demonstrates true learning.

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Don't be afraid to retry exercises

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until you achieve a score
you're satisfied with.

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Embrace struggles and mistakes,

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as they contribute to your brain's growth.

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Make sure to follow the
guiding blue buttons

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throughout the platform.

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Your course contains a number of skills

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that you can practice at your own pace.

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To stay on track, look
for the blue buttons

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through the course.

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These buttons will always guide you

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to the next skill that you should work on.

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Don't forget to utilize
hints when you're stuck.

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It's completely normal to feel stuck

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while learning new skills.

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The key is to not give up.

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When you encounter difficulties,

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take advantage of the hint feature.

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Hints provide step-by-step instructions

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for the specific question
you're working on.

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And you can jot them down
for future reference.

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Additionally, you can
watch instructional videos

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or read articles on the skill
to gain further insights.

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Once you've done this,
attempt the exercise again.

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And if you're still stuck,

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don't hesitate to seek
support from your classmates,

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teachers, or family members.

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Lastly, embrace mastery learning.

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Always remember your potential
to succeed knows no bounds.

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Keep trying, embrace making mistakes,

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and never hesitate to
seek help when needed.

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The beauty of learning
on Khan Academy lies

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in the endless possibilities
for growth and knowledge.

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By employing these strategies,

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you'll be well equipped to
work towards your mastery goals

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effectively on Khan Academy.

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(light music continues)


Intro to taxes

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- So a lot of folks are familiar

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with government doing things
like building roads and bridges

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or providing schooling or
parks or at the federal level

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national programs, or say, the military.

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And the natural question is

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how does the government
pay for all of this?

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And the simple answer is
it's primarily through taxes.

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There's other sources of revenue as well,

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but we're thinking on a local level.

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Taxes are things like sales tax.

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You buy something, you
pay a little bit extra.

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That extra percentage does not go

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to the retailer or whoever's
providing the service.

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It would go to the government.

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There're things like property tax,

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especially at a local level

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where if you own property every year,

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that property generally is
assessed what the value is

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and you have to pay a
percentage of that value

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to traditionally the local
government on an annual basis.

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And then when you go to the
state and the federal level,

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probably the most significant tax,

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in fact, the most significant
tax is income tax,

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which is a tax on people's income.

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Now, income tax, you can broadly view it

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as a tax on a percentage of your income,

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and it can be significant depending

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on how much money you make.

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It's not uncommon for,

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between state and federal
taxes for people to,

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and things like social
security tax, et cetera,

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for 20, 30, 40% or more

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of someone's income to go to
these collective income taxes.

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So it is a significant
part of folks' income.

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So it's definitely something

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that you should pay attention to.

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Now, I mentioned, generally speaking,

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it's a percentage, and that
percentage, generally speaking,

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is gonna get larger and
larger the more that you earn.

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And that's a important point,

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that it's not just a flat percentage,

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which you still would
pay more if you make more

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but the actual percentage goes up.

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Now I go into details in other videos.

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Another misconception is
that as you go into brackets,

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the higher and higher tax brackets

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as you make more and more,

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and as that percentage for
those incremental brackets

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go higher and higher

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that you pay that percentage
on all of your income.

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That's not the case.

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You just pay that higher percentage

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on the incremental income
between that threshold

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and the next threshold,

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and then the threshold above that,

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you pay another higher percentage.

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I know that can be a little confusing.

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We have some other
videos that break it down

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a little bit more,

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in a little bit more detail.

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But the important thing to
realize is as you make money,

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you are going to, depending if you,

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especially if you reach
some minimum thresholds,

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you are going to spend

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a significant amount of money on taxes.

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The average American household
spends $10,000 on taxes

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and if you make more than average,

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it can be substantially more than that.

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So this is just the intro primer.

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I encourage you to watch the other videos

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that teach you how to break
down taxes a little bit.

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But it's very important to think about.


Credit 101: What is APR?

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- Let's talk a little bit about credit

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and in particular, how
much you pay for credit.

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So just as a reminder, credit
is essentially the ability

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or when you actually
borrow from someone else.

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It could take the form of a mortgage

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where say you're borrowing
money to buy a house,

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or it could take the form of a credit card

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where when you purchase
things with that credit card

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you are borrowing money
from the bank issuer

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in order to purchase whatever you want.

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Now, credit can be useful,

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it could be convenient in
the case of a credit card

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where you don't have to carry cash around.

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Some places only accept
credit or a credit card,

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and it can help you sometimes
make good investments.

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For example, if you borrow money

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in order to make an investment
that's going to return

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more money than you put in.

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But you have to be careful,

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there's always some risk involved,

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that actually could be a
good financial decision.

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Now, we also have to be
very, very, very careful,

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especially, if you're using
credit to buy something

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that isn't an investment.

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That's really just all about consumption.

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Hey, there's a new outfit I want

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I'm going to use credit for it.

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Maybe you're using it for the convenience

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and you're going to pay off the balance

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at the end of the month,

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but if you are using it

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because you actually don't have the money

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that is a bad sign.

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That is a sign that you
are spending more money

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than you are bringing in,

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and you're using credit to
kind of not notice that.

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And the reason why that's
a big deal was one,

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you are spending unsustainably,

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but the other issue is there is usually

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a pretty significant cost
especially to credit cards.

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All credit, someone is
going to charge you interest

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for the amount that you borrow

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and there's usually going to
be some fees on top of that.

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And one way to think
about the cost of credit

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you'll see something called APR.

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These are annual percentage rate.

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And what they do in the
case of a credit card,

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they look at your average daily balance

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and they're gonna charge you
a certain amount of interest

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plus fees on that average daily balance.

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Now, if you were to just
keep that balance all year,

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you would actually have to compound

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that average daily balance by 365 days.

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But to simplify the calculation,

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APR just takes how much interest
you would pay times 365.

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So it actually understates a little bit.

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It's actually the interest
plus the fees you would pay

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as a percentage times 365
which actually understates

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a little bit what you would pay

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if you actually had to compound.

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But it's a good standardized
measure of roughly

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what you're going to pay for a loan.

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It's not uncommon for a credit card APR

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to be in the high 10s or even in the 20s.

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In some cases I've even
seen them in the 30% range.

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That's a lot of expense
to pay to borrow money,

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especially if you're not
using it for investments.

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Mortgages will also have APRs

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although they will be significantly lower,

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mainly because of people lending to you,

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view that as a safer bet
from their point of view.

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And even when you're using credit

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for what you think are investments,

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you have to be very conscientious of risk

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because credit is really
a way of getting leverage

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and we can talk more about
that in other videos.

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It can magnify how much you make

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if say the asset increases in value,

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but it can also magnify how much you lose

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if the asset decreases in value.

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We'll talk about that at other times.

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But generally speaking, be
very careful about credit,

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especially if you're using
it to consume versus invest.

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And look at that APR,
it's a standardized way

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of really getting a sense
of how costly that loan is.


Debt: Good debt and bad debt

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- So let's talk a little bit about debt.

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Debt is just the amount
of money that you owe,

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usually in the form of loans.

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It could also be your
balance on a credit card,

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which is really a loan from
the credit card issuer,

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and I would say there is good
debt and there is bad debt.

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Good debt is when you borrow money

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in order to make an
investment of some kind

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that should produce more money

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than the amount that you are borrowing

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and enough money to actually
even offset the interest

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that you're going to
have to pay on that debt.

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Examples of things that might be good debt

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is if you are borrowing
money to, say, buy a house

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because that will reduce your
rent expense in the future,

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and the house itself might appreciate.

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Maybe you need
transportation, you need a car

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or a motorcycle to get to your job,

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or you could get to a
better job if you had that.

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You could work more hours

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'cause you're gonna spend
less time getting there.

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That could be an investment.

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It could be you're going
to invest in yourself.

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It could be saying,

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hey, I could take a course
or I could get a degree.

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And yes, it's going to cost money

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that I'm gonna have to pay interest on

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on top of the money I owe,

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but it'll increase my
my actual job prospects

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and my income enough that will
more than offset that money

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that I have to pay in the future.

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And even in those three scenarios,

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three or four scenarios,
be very, very careful.

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If you're taking on student
debt, really talk to people.

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Make sure that the degree
program you're getting into,

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that line of work that
you're getting into,

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that the folks who decided
to take debt on to do that,

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that it actually did pay off.

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If you buy a car,

00:01:31.440 --> 00:01:33.600
make sure that it's something
that really is an investment

00:01:33.600 --> 00:01:34.950
and not just something fancy

00:01:34.950 --> 00:01:36.690
that you wanna show off to your friends,

00:01:36.690 --> 00:01:39.210
because at some point,
yes, it is transportation,

00:01:39.210 --> 00:01:41.070
but if you're starting
to buy a very fancy car

00:01:41.070 --> 00:01:43.260
and you're borrowing money to do it,

00:01:43.260 --> 00:01:45.330
well, the fanciness of the car

00:01:45.330 --> 00:01:47.940
isn't going to necessarily
increase your ability

00:01:47.940 --> 00:01:50.640
to get to work or to get a better job,

00:01:50.640 --> 00:01:53.370
and then you're essentially
taking on debt for a want

00:01:53.370 --> 00:01:55.860
as opposed to a need or an investment.

00:01:55.860 --> 00:01:57.150
Same thing with buying a house.

00:01:57.150 --> 00:01:58.920
It's not always the right decision.

00:01:58.920 --> 00:02:00.450
Oftentimes it can be,

00:02:00.450 --> 00:02:03.840
but really weigh what you
think is going to happen,

00:02:03.840 --> 00:02:05.430
how much rent you're going to save,

00:02:05.430 --> 00:02:06.990
how much the house might appreciate,

00:02:06.990 --> 00:02:09.480
and sometimes they don't,
they go down in value too,

00:02:09.480 --> 00:02:11.250
relative to how much you owe,

00:02:11.250 --> 00:02:12.390
and make sure that it's something

00:02:12.390 --> 00:02:15.120
that you will be able
to pay back over time.

00:02:15.120 --> 00:02:18.570
Even if some bad things happen
in life, you lose a job,

00:02:18.570 --> 00:02:20.940
you have to spend money on an emergency

00:02:20.940 --> 00:02:22.650
in some way, shape, or form.

00:02:22.650 --> 00:02:23.550
Now on the other hand,

00:02:23.550 --> 00:02:26.220
there's things that I would
categorize as bad debt,

00:02:26.220 --> 00:02:28.380
and this is when you are borrowing money

00:02:28.380 --> 00:02:31.080
for things that, frankly, you do not need.

00:02:31.080 --> 00:02:32.670
Because when you do that,

00:02:32.670 --> 00:02:36.840
you're essentially taking money
away from your future self.

00:02:36.840 --> 00:02:38.820
And if you didn't have
money today to buy it,

00:02:38.820 --> 00:02:40.410
and if you're gonna have
to pay that money back

00:02:40.410 --> 00:02:42.960
in the future with
interest, you're taking,

00:02:42.960 --> 00:02:44.240
you're putting your future self

00:02:44.240 --> 00:02:46.980
in a more and more difficult situation.

00:02:46.980 --> 00:02:50.010
So I would say a very
obvious category of this is,

00:02:50.010 --> 00:02:52.710
let's say there's a big
fancy outfit you wanna buy,

00:02:52.710 --> 00:02:54.900
one that will not help you get a job.

00:02:54.900 --> 00:02:56.490
And you're like, well,
I don't have the money,

00:02:56.490 --> 00:02:59.250
but that looks really
cool, let me buy that.

00:02:59.250 --> 00:03:00.510
Well, it might feel good now,

00:03:00.510 --> 00:03:02.010
but you're gonna be paying that down

00:03:02.010 --> 00:03:04.410
for a very, very, very long time.

00:03:04.410 --> 00:03:07.920
Or using debt to go eat
at a fancy restaurant.

00:03:07.920 --> 00:03:09.840
If you're using money that you don't have,

00:03:09.840 --> 00:03:12.030
once again, it might be fun in the moment,

00:03:12.030 --> 00:03:13.410
but you're going to be paying that down

00:03:13.410 --> 00:03:15.930
and taking away from your future self.

00:03:15.930 --> 00:03:19.290
And it can lead from pretty suboptimal

00:03:19.290 --> 00:03:21.900
or not so great situations.

00:03:21.900 --> 00:03:25.320
There are folks that, if
they start doing that,

00:03:25.320 --> 00:03:27.390
they take money from their future self,

00:03:27.390 --> 00:03:28.620
they see that their income

00:03:28.620 --> 00:03:30.450
after they have to pay down the debt

00:03:30.450 --> 00:03:31.860
and the interest and the payments,

00:03:31.860 --> 00:03:34.650
month after month their
income starts going lower

00:03:34.650 --> 00:03:36.750
and lower and lower and lower.

00:03:36.750 --> 00:03:38.970
That's a scary situation to be in

00:03:38.970 --> 00:03:40.350
that will create a lot of stress

00:03:40.350 --> 00:03:41.790
and create a lot of anxiety.

00:03:41.790 --> 00:03:43.290
If you find yourself in a situation

00:03:43.290 --> 00:03:46.230
where you're borrowing
to pay off other debt,

00:03:46.230 --> 00:03:49.260
that can also be a very big red flag,

00:03:49.260 --> 00:03:51.690
create a lot of stress
and a lot of anxiety.

00:03:51.690 --> 00:03:53.340
If on things like your credit cards

00:03:53.340 --> 00:03:54.990
you're just paying the minimum amount

00:03:54.990 --> 00:03:57.120
but the balances aren't coming down,

00:03:57.120 --> 00:03:58.740
and you're usually
paying very high interest

00:03:58.740 --> 00:03:59.790
on those credit cards,

00:03:59.790 --> 00:04:02.040
that is a very bad situation

00:04:02.040 --> 00:04:06.420
that is setting you up for
not good financial outcomes.

00:04:06.420 --> 00:04:07.855
And maybe worse of all,

00:04:07.855 --> 00:04:10.230
whenever someone falls
into one of these cycles,

00:04:10.230 --> 00:04:11.063
they might just say,

00:04:11.063 --> 00:04:12.870
"Well, I just wanna look at
it, it just stresses me out."

00:04:12.870 --> 00:04:15.840
And then you're not even in a position

00:04:15.840 --> 00:04:17.490
where you're paying your debt
or you're trying to ignore it,

00:04:17.490 --> 00:04:19.890
and then that's going to
hit your credit rating,

00:04:19.890 --> 00:04:21.240
and eventually the collections folks

00:04:21.240 --> 00:04:22.260
are gonna come after you.

00:04:22.260 --> 00:04:24.750
And that is a very, very bad situation.

00:04:24.750 --> 00:04:26.160
Maybe you have to declare bankruptcy

00:04:26.160 --> 00:04:27.570
at some point in the future.

00:04:27.570 --> 00:04:30.240
So debt can be useful,

00:04:30.240 --> 00:04:33.243
but be very, very, very careful with it.


Sources of loans/credit

WEBVTT
Kind: captions
Language: en

00:00:01.020 --> 00:00:03.810
- So let's talk a little bit
about credit and lending.

00:00:03.810 --> 00:00:05.820
So when I talk about credit,
I'm literally just talking

00:00:05.820 --> 00:00:08.310
about someone's willingness
to lend you money

00:00:08.310 --> 00:00:09.660
or to actually lend you money.

00:00:09.660 --> 00:00:10.920
You've heard of a credit card.

00:00:10.920 --> 00:00:13.020
When you buy something with a credit card,

00:00:13.020 --> 00:00:16.200
essentially the credit card
issuer is lending you the money

00:00:16.200 --> 00:00:17.310
to make that purchase,

00:00:17.310 --> 00:00:19.440
and you're gonna have to pay
that back at some future date,

00:00:19.440 --> 00:00:22.530
likely with interest, likely
with a lot of interest.

00:00:22.530 --> 00:00:24.750
Now, there's a lot of
different types of loans

00:00:24.750 --> 00:00:26.340
or credit you can get.

00:00:26.340 --> 00:00:27.173
And they're going

00:00:27.173 --> 00:00:28.980
to have different costs
associated with them.

00:00:28.980 --> 00:00:30.630
You're like, "Well, what's
the cost of a loan?"

00:00:30.630 --> 00:00:31.463
Well, sometimes,

00:00:31.463 --> 00:00:33.660
there's just an outright
fee associated with it,

00:00:33.660 --> 00:00:35.670
but more likely, or on top of that,

00:00:35.670 --> 00:00:38.580
the interest that you pay on
a loan is how much you pay.

00:00:38.580 --> 00:00:41.220
So if you're paying 2%
interest for a loan,

00:00:41.220 --> 00:00:44.400
you're paying a lot less
per dollar on that loan

00:00:44.400 --> 00:00:48.180
than if you had to pay,
say, 20% or 30% interest.

00:00:48.180 --> 00:00:49.920
And that might not seem like a lot,

00:00:49.920 --> 00:00:51.930
the difference between 2 and 20%.

00:00:51.930 --> 00:00:54.090
It's a ginormous difference.

00:00:54.090 --> 00:00:56.490
If you've watched our
videos on compound interest,

00:00:56.490 --> 00:00:59.710
if you're paying 20%
interest or even 10% interest

00:01:00.750 --> 00:01:03.420
and if you're not paying down
that balance pretty quickly,

00:01:03.420 --> 00:01:05.700
that could end up being
a lot, a lot of money.

00:01:05.700 --> 00:01:08.490
You could very easily end up
paying a lot more in interest

00:01:08.490 --> 00:01:12.360
than the initial amount of money
that you actually borrowed.

00:01:12.360 --> 00:01:13.470
Now, what are the scenarios?

00:01:13.470 --> 00:01:15.780
We're gonna pay less or
you're gonna pay more?

00:01:15.780 --> 00:01:18.270
Well, we have whole videos
on your credit score

00:01:18.270 --> 00:01:21.090
and the better your
credit score in general

00:01:21.090 --> 00:01:23.790
the better a risk you look
like you are to the lender.

00:01:23.790 --> 00:01:26.250
And so you're gonna have
to pay a lower rate,

00:01:26.250 --> 00:01:29.190
a lower interest rate,
which is a good thing.

00:01:29.190 --> 00:01:30.570
Now, above and beyond that,

00:01:30.570 --> 00:01:32.070
there's different types of loans.

00:01:32.070 --> 00:01:34.890
There's loans where if you
aren't able to pay it back,

00:01:34.890 --> 00:01:36.540
the person who lent you money,

00:01:36.540 --> 00:01:38.010
they're still gonna be
able to get something.

00:01:38.010 --> 00:01:41.310
So for example, if you take
out a mortgage to buy a house,

00:01:41.310 --> 00:01:43.950
that's a loan, and you
have a down payment.

00:01:43.950 --> 00:01:47.310
And if you aren't able to pay
it back for whatever reason,

00:01:47.310 --> 00:01:50.220
the bank will foreclose
and will take the house,

00:01:50.220 --> 00:01:52.020
and then they are likely to sell the house

00:01:52.020 --> 00:01:54.060
in order to get their money back.

00:01:54.060 --> 00:01:56.040
So there's some risk for the bank still.

00:01:56.040 --> 00:01:56.873
They have to go

00:01:56.873 --> 00:01:59.280
through all the trouble of
foreclosing on the house.

00:01:59.280 --> 00:02:01.950
Maybe property values go down.

00:02:01.950 --> 00:02:04.140
That's one of the reasons
why they also make you

00:02:04.140 --> 00:02:07.140
put a down payment, that also
protects them a little bit.

00:02:07.140 --> 00:02:09.210
But it's a lot lower
risk than if they didn't,

00:02:09.210 --> 00:02:11.220
if they weren't able to
get access to that house.

00:02:11.220 --> 00:02:14.910
And so there, you're gonna
have to pay lower interest.

00:02:14.910 --> 00:02:17.700
Similarly, a car higher risk than a house.

00:02:17.700 --> 00:02:18.630
So you're probably going

00:02:18.630 --> 00:02:20.970
to have to pay a higher
interest for a car loan,

00:02:20.970 --> 00:02:22.230
but if you don't pay,

00:02:22.230 --> 00:02:24.750
the bank will take the
car and then sell the car.

00:02:24.750 --> 00:02:26.610
At the other end of the spectrum,

00:02:26.610 --> 00:02:28.530
I talked a little bit
already about credit cards.

00:02:28.530 --> 00:02:31.590
You're just buying stuff
and if you don't pay back,

00:02:31.590 --> 00:02:32.790
it's going to be bad for you.

00:02:32.790 --> 00:02:36.390
The bank will really, they'll
report to the credit bureaus,

00:02:36.390 --> 00:02:37.650
and it's gonna hurt your credit score,

00:02:37.650 --> 00:02:39.930
and future people aren't
going to lend to you

00:02:39.930 --> 00:02:42.630
or they're gonna charge
a lot more to lend.

00:02:42.630 --> 00:02:45.180
But from the bank's point
of view, it's pretty risky.

00:02:45.180 --> 00:02:48.660
And so that's why they likely
charge much higher interest.

00:02:48.660 --> 00:02:50.700
And that interest can
easily be in the teens

00:02:50.700 --> 00:02:54.450
or even twenties, even up to
30% in certain situations.

00:02:54.450 --> 00:02:55.950
And that is a lot of interest.

00:02:55.950 --> 00:02:56.880
And that's why in other videos,

00:02:56.880 --> 00:03:00.330
we talk about maybe pay down
your credit card balances

00:03:00.330 --> 00:03:01.590
as quickly as possible.

00:03:01.590 --> 00:03:03.510
And then there's things,
even more extreme.

00:03:03.510 --> 00:03:04.680
Things like payday loans,

00:03:04.680 --> 00:03:08.490
which I don't recommend anyone
watching this video to use.

00:03:08.490 --> 00:03:12.090
Those are usually lenders to
some degree taking advantage

00:03:12.090 --> 00:03:13.860
of people pretty desperate for money

00:03:13.860 --> 00:03:16.050
where they're outta money, they need $500,

00:03:16.050 --> 00:03:17.310
they go to these payday lenders,

00:03:17.310 --> 00:03:18.810
and they say, "Okay we'll give you $500,

00:03:18.810 --> 00:03:23.640
but pay us $550 in three days
when you get your paycheck."

00:03:23.640 --> 00:03:25.327
For some folks that might
not feel like a lot,

00:03:25.327 --> 00:03:27.270
"Okay, it's an extra $50."

00:03:27.270 --> 00:03:28.410
But if you actually think about that

00:03:28.410 --> 00:03:30.900
as an annual interest rate,
I have a whole video on that,

00:03:30.900 --> 00:03:33.540
it's actually a ginormous interest rate.

00:03:33.540 --> 00:03:35.700
And if someone does that consistently,

00:03:35.700 --> 00:03:38.970
and it's obviously not
a great cycle to be in,

00:03:38.970 --> 00:03:40.560
you could end up paying a lot more

00:03:40.560 --> 00:03:44.400
to these payday loan
lenders than you suspect.

00:03:44.400 --> 00:03:48.303
So the big picture is credit
can be a useful thing.

00:03:49.590 --> 00:03:50.790
Maybe you're making an investment,

00:03:50.790 --> 00:03:52.530
you're buying real estate,
you need a place to live,

00:03:52.530 --> 00:03:54.300
you're buying a house, you need a car.

00:03:54.300 --> 00:03:56.220
These are all reasonable things

00:03:56.220 --> 00:03:59.220
and it is okay even sometimes
to potentially borrow

00:03:59.220 --> 00:04:01.920
for consuming things,
things that you enjoy.

00:04:01.920 --> 00:04:04.650
But I would be a little bit or
a lot more careful with that.

00:04:04.650 --> 00:04:08.250
But the key takeaway is
the bigger a risk you are,

00:04:08.250 --> 00:04:10.833
the more that you're likely
to pay for that loan.


Introduction to Middle school physics

WEBVTT
Kind: captions
Language: en

00:00:00.330 --> 00:00:01.163
- Hi everyone.

00:00:01.163 --> 00:00:04.620
Sal Khan here and welcome
to Middle School Physics.

00:00:04.620 --> 00:00:08.790
I have Iman Howard, who manages
all of our STEM content.

00:00:08.790 --> 00:00:10.410
Iman, why should folks be excited

00:00:10.410 --> 00:00:12.480
about Middle School Physics?

00:00:12.480 --> 00:00:16.020
- So, Middle School Physics
is, like, the only science

00:00:16.020 --> 00:00:19.440
out there that explains how things happen.

00:00:19.440 --> 00:00:22.170
And so basically
everything's made of matter.

00:00:22.170 --> 00:00:25.500
Me, you, the chair that I'm sitting on,

00:00:25.500 --> 00:00:27.930
and this course is gonna
explore how we exist

00:00:27.930 --> 00:00:29.130
in the natural world.

00:00:29.130 --> 00:00:31.110
So, for example, we talk a little bit

00:00:31.110 --> 00:00:32.760
about movement in forces,

00:00:32.760 --> 00:00:37.290
and we learn that everything
that we have a collision with

00:00:37.290 --> 00:00:39.390
has this equal but opposite force

00:00:39.390 --> 00:00:41.610
that's applied when the collision happens.

00:00:41.610 --> 00:00:44.430
So that's why when you
give those high fives,

00:00:44.430 --> 00:00:46.050
and then your hand starts stinging.

00:00:46.050 --> 00:00:48.090
It's because the same
force you gave your buddy

00:00:48.090 --> 00:00:50.100
is the same force they gave you back.

00:00:50.100 --> 00:00:52.230
And then we also talk about force

00:00:52.230 --> 00:00:54.120
in a way where it doesn't touch you.

00:00:54.120 --> 00:00:56.370
So, like, I'm thinking like "Star Wars".

00:00:56.370 --> 00:00:59.970
There's, like, this force
energy like gravitational.

00:00:59.970 --> 00:01:02.940
There's magnetic energy.
There's electric energy.

00:01:02.940 --> 00:01:05.490
And then finally we get into waves,

00:01:05.490 --> 00:01:08.760
and we talk a little bit about
how waves, you know, exists,

00:01:08.760 --> 00:01:11.550
whether it's sound waves or
even the waves in the ocean.

00:01:11.550 --> 00:01:13.860
What do you think is exciting about it?

00:01:13.860 --> 00:01:16.740
- Oh, well that's a
dangerous question to ask me.

00:01:16.740 --> 00:01:19.740
I wanted to be a physicist,
and I still aspire to be it,

00:01:19.740 --> 00:01:23.070
because, you know, we kind
of wake up in this cosmos,

00:01:23.070 --> 00:01:25.920
and we're just trying to
understand where we fit in.

00:01:25.920 --> 00:01:29.850
And physics asks the most
fundamental questions

00:01:29.850 --> 00:01:31.920
about how the universe works.

00:01:31.920 --> 00:01:34.500
And so when I first learned
about Newton's laws,

00:01:34.500 --> 00:01:38.250
and fields, and all of the
things that you just touched on,

00:01:38.250 --> 00:01:39.960
it started to give me goosebumps,

00:01:39.960 --> 00:01:42.210
'cause I'm like, wow, we
can finally understand

00:01:42.210 --> 00:01:43.470
how the universe fits together,

00:01:43.470 --> 00:01:45.180
and then use that to make predictions,

00:01:45.180 --> 00:01:47.760
and then think about things
that we don't understand.

00:01:47.760 --> 00:01:49.530
And there is so much
that we don't understand.

00:01:49.530 --> 00:01:50.790
So I think this is the beginning

00:01:50.790 --> 00:01:53.673
of a very, very exciting
journey in physics.

00:01:54.510 --> 00:01:55.491
- I agree, Sal.

00:01:55.491 --> 00:01:57.744
(gentle music)


Introduction to Middle school biology

WEBVTT
Kind: captions
Language: en

00:00:00.510 --> 00:00:02.340
- Hi, everyone. Sal Kahn here.

00:00:02.340 --> 00:00:05.220
And welcome to Middle School Biology.

00:00:05.220 --> 00:00:09.750
I have Iman Howard here, who
manages our STEM content.

00:00:09.750 --> 00:00:12.120
Welcome, Iman, and why should folks care

00:00:12.120 --> 00:00:14.460
about middle school biology?

00:00:14.460 --> 00:00:17.280
- Biology is the study of life.

00:00:17.280 --> 00:00:20.070
And so, in this course, it really answers

00:00:20.070 --> 00:00:21.960
why are things the way they are,

00:00:21.960 --> 00:00:23.640
why do you look the way they do,

00:00:23.640 --> 00:00:25.320
why do I look the way I do,

00:00:25.320 --> 00:00:27.600
and how every organism on Earth

00:00:27.600 --> 00:00:30.720
has a really special
purpose and a special trait.

00:00:30.720 --> 00:00:33.000
And based on these traits, it helps them

00:00:33.000 --> 00:00:34.890
interact with their environment.

00:00:34.890 --> 00:00:36.510
We even talk about energy.

00:00:36.510 --> 00:00:39.570
And energy can't be created
and it can't be destroyed.

00:00:39.570 --> 00:00:42.990
It actually cycles as
matter through an ecosystem.

00:00:42.990 --> 00:00:45.420
And it even has this really
cool chemical reactions

00:00:45.420 --> 00:00:48.540
called photosynthesis, where
plants use light energy

00:00:48.540 --> 00:00:52.230
from the sun and they make
their own food, which is insane.

00:00:52.230 --> 00:00:55.530
I think about organisms like
the gorilla that are super-big

00:00:55.530 --> 00:00:58.440
and strong and they
don't go and eat a cow.

00:00:58.440 --> 00:01:01.260
They go and eat plants because
that's like getting energy

00:01:01.260 --> 00:01:03.120
right from the source.

00:01:03.120 --> 00:01:05.730
And then finally, we talk about evolution.

00:01:05.730 --> 00:01:09.120
Based on our traits, how
have we changed over time?

00:01:09.120 --> 00:01:12.570
And how some of our natural
traits were selected

00:01:12.570 --> 00:01:15.390
by the environment that
create those changes

00:01:15.390 --> 00:01:17.430
or even how humans, we
have something called

00:01:17.430 --> 00:01:20.700
artificial selection, which
explains why your dog's so cute.

00:01:20.700 --> 00:01:24.750
Whether it's 100 pounds or
five pounds, we did that.

00:01:24.750 --> 00:01:27.150
What do you think's cool about it, Sal?

00:01:27.150 --> 00:01:30.240
- Oh, well, you know,
biology's trying to answer,

00:01:30.240 --> 00:01:31.800
I mean, to your point,
the questions of life,

00:01:31.800 --> 00:01:33.660
which we still don't
understand a lot about

00:01:33.660 --> 00:01:37.920
but like what makes us us and
to realize that we don't exist

00:01:37.920 --> 00:01:39.210
as human beings in isolation.

00:01:39.210 --> 00:01:40.290
We're part of an ecosystem.

00:01:40.290 --> 00:01:43.140
We're part of a story, a
narrative that's been going on

00:01:43.140 --> 00:01:45.870
for millions and billions of years.

00:01:45.870 --> 00:01:48.510
The fact that we're made
up of trillions of cells,

00:01:48.510 --> 00:01:51.690
each of them with DNA that
can describe who we are,

00:01:51.690 --> 00:01:53.940
how did all of this complexity come about?

00:01:53.940 --> 00:01:55.920
This is maybe the most mind-blowing topic

00:01:55.920 --> 00:01:57.900
that we're really at just the
beginning of this journey.

00:01:57.900 --> 00:01:59.880
So I think folks are gonna be really,

00:01:59.880 --> 00:02:02.400
really excited to or it's
gonna be really interesting

00:02:02.400 --> 00:02:05.010
to see all of the things
that they get to learn.

00:02:05.010 --> 00:02:06.693
- Well, let's dig in.

00:02:06.693 --> 00:02:09.943
(enthusiastic chiming)


Revolving vs installment credit

WEBVTT
Kind: captions
Language: en

00:00:00.870 --> 00:00:05.820
- So let's talk about two very
broad categories of loans.

00:00:05.820 --> 00:00:07.710
One is installment loans

00:00:07.710 --> 00:00:11.340
and one is revolving
loans or revolving credit.

00:00:11.340 --> 00:00:12.173
So if we're talking

00:00:12.173 --> 00:00:14.100
about installment loans
or installment credit,

00:00:14.100 --> 00:00:16.890
that's a situation where
you're borrowing one

00:00:16.890 --> 00:00:18.480
usually large amount of money

00:00:18.480 --> 00:00:21.180
and then you're paying
it back in installments.

00:00:21.180 --> 00:00:25.020
The most common examples
of this are a car loan,

00:00:25.020 --> 00:00:28.050
your student debt payment,
or a mortgage where

00:00:28.050 --> 00:00:31.200
you might say, borrow a
hundred thousand dollars.

00:00:31.200 --> 00:00:35.400
And then you're paying it
down over 10, 15, 30 years

00:00:35.400 --> 00:00:38.850
where you're paying usually a
fixed amount every year to pay

00:00:38.850 --> 00:00:42.510
down how much you borrowed,
plus paying the interest.

00:00:42.510 --> 00:00:45.090
Now, the other end of the
spectrum, or the other category

00:00:45.090 --> 00:00:48.540
I should say, is revolving
credit or revolving loans.

00:00:48.540 --> 00:00:50.190
And the one most common to

00:00:50.190 --> 00:00:53.460
or most familiar to most
people is your credit card.

00:00:53.460 --> 00:00:55.860
You don't call that
necessarily revolving credit

00:00:55.860 --> 00:00:56.850
but that's what it is.

00:00:56.850 --> 00:01:00.450
What that means is there's
some limit that you can borrow

00:01:00.450 --> 00:01:02.460
that the credit card
issuer says, all right

00:01:02.460 --> 00:01:05.370
I'll lend you up to a thousand dollars.

00:01:05.370 --> 00:01:09.090
That's your credit card limit,
and you can use it as long

00:01:09.090 --> 00:01:10.710
as you spend less than a thousand dollars.

00:01:10.710 --> 00:01:11.640
And then you can pay it down

00:01:11.640 --> 00:01:13.380
and then you can use some
more, et cetera, et cetera.

00:01:13.380 --> 00:01:15.570
So let's say you have a thousand
dollars credit card limit

00:01:15.570 --> 00:01:17.790
and right now you have not borrowed

00:01:17.790 --> 00:01:19.170
or you haven't used it at all.

00:01:19.170 --> 00:01:22.050
Then you go out, you
spend $50 on clothing.

00:01:22.050 --> 00:01:26.040
Now you owe the credit
card company the issuer $50

00:01:26.040 --> 00:01:29.610
and you could borrow
an extra $950 from them

00:01:29.610 --> 00:01:32.670
'cause you've used $50
of that thousand dollars.

00:01:32.670 --> 00:01:34.350
Now you could pay that down

00:01:34.350 --> 00:01:35.700
and I highly recommend paying it

00:01:35.700 --> 00:01:37.140
down as quickly as possible.

00:01:37.140 --> 00:01:38.790
You could pay down that $50

00:01:38.790 --> 00:01:41.370
and now you could borrow
up to a thousand dollars.

00:01:41.370 --> 00:01:42.930
So that's why it's called revolving.

00:01:42.930 --> 00:01:44.820
You're constantly using some of it

00:01:44.820 --> 00:01:47.280
and then paying some of
it back, using some of it,

00:01:47.280 --> 00:01:50.280
paying some of it back.

00:01:50.280 --> 00:01:52.950
That's the most common example
in most people's lives.

00:01:52.950 --> 00:01:55.530
There's also things like personal lines

00:01:55.530 --> 00:01:57.510
of credit that you might
be able to get from a bank.

00:01:57.510 --> 00:02:00.180
Sometimes they'll lend you that based

00:02:00.180 --> 00:02:02.940
on the value that you
have in your house, where

00:02:02.940 --> 00:02:05.250
you can borrow money and then
pay it back, borrow money

00:02:05.250 --> 00:02:08.070
and pay it back up to
some type of a limit.

00:02:08.070 --> 00:02:09.780
So those are the two big categories.

00:02:09.780 --> 00:02:13.080
It's nice to have a little
category knowledge in your head

00:02:13.080 --> 00:02:15.660
about how they might different,
how they might be different.

00:02:15.660 --> 00:02:19.320
One is usually one large lump sum purchase

00:02:19.320 --> 00:02:21.240
that you're borrowing money for, and then

00:02:21.240 --> 00:02:24.000
you're paying it back in,
usually fixed installments.

00:02:24.000 --> 00:02:26.160
The other is you have some
kind of a credit limit

00:02:26.160 --> 00:02:29.277
and you can borrow and pay
back, borrow and pay back

00:02:29.277 --> 00:02:33.423
depending on what your needs are in life.


Education as an investment

WEBVTT
Kind: captions
Language: en

00:00:01.350 --> 00:00:03.990
- At a very high level an investment is

00:00:03.990 --> 00:00:07.800
when you're putting,
let's say, your money now

00:00:07.800 --> 00:00:09.540
into something in the hope

00:00:09.540 --> 00:00:11.400
that in the future you're gonna get more

00:00:11.400 --> 00:00:13.440
than that amount of money back.

00:00:13.440 --> 00:00:16.140
And the extra amount that you get back,

00:00:16.140 --> 00:00:19.080
you'd call your return on your investment.

00:00:19.080 --> 00:00:20.790
Now you can think of an investment

00:00:20.790 --> 00:00:22.290
in slightly broader terms,

00:00:22.290 --> 00:00:24.690
where you're not just investing money.

00:00:24.690 --> 00:00:29.160
You could also be investing
your energy or your time.

00:00:29.160 --> 00:00:30.870
And you could think of
it in broader terms,

00:00:30.870 --> 00:00:33.990
that what you're gonna get
back is hopefully more money,

00:00:33.990 --> 00:00:36.101
maybe more energy and more time as well

00:00:36.101 --> 00:00:38.190
in some future world.

00:00:38.190 --> 00:00:40.380
And that's why you can really view,

00:00:40.380 --> 00:00:44.610
in many situations,
education as an investment.

00:00:44.610 --> 00:00:46.200
The whole idea here is

00:00:46.200 --> 00:00:48.960
especially if we're
thinking about college, is

00:00:48.960 --> 00:00:52.890
if you are willing to
put the time, the energy,

00:00:52.890 --> 00:00:55.560
and the money, and there's
really several costs here,

00:00:55.560 --> 00:00:57.990
there's the actual tuition costs,

00:00:57.990 --> 00:00:59.790
there's the room and board costs,

00:00:59.790 --> 00:01:01.740
which is the living expenses,

00:01:01.740 --> 00:01:03.810
the food expenses while you're at college,

00:01:03.810 --> 00:01:05.520
and there's also that lost income.

00:01:05.520 --> 00:01:07.410
You could be working over those years

00:01:07.410 --> 00:01:09.750
when you're in college, so
there's also that lost income.

00:01:09.750 --> 00:01:12.600
So it can be a pretty
substantial investment.

00:01:12.600 --> 00:01:15.090
But the reason why many folks are willing

00:01:15.090 --> 00:01:18.660
to do that is the belief
that coming outta college

00:01:18.660 --> 00:01:21.600
they're going to have many
more career opportunities,

00:01:21.600 --> 00:01:23.760
ones that better resonate
with their interest,

00:01:23.760 --> 00:01:26.580
and maybe coming down to
financial literacy, ones

00:01:26.580 --> 00:01:30.570
that give a better return
in terms of income.

00:01:30.570 --> 00:01:33.420
So you might say, "Oh, it
might cost a good bit of money.

00:01:33.420 --> 00:01:35.370
It might cost tens of thousands of dollars

00:01:35.370 --> 00:01:38.220
or even in certain cases
hundreds of thousands of dollars

00:01:38.220 --> 00:01:41.820
to put the time and money into college,

00:01:41.820 --> 00:01:43.470
and also the opportunity cost

00:01:43.470 --> 00:01:45.060
of not working during those years.

00:01:45.060 --> 00:01:48.210
But when I come out, maybe
I'll be able to make two times,

00:01:48.210 --> 00:01:50.700
three times as more
just right out the gate.

00:01:50.700 --> 00:01:53.640
And maybe 10 years down the
road or 20 years down the road

00:01:53.640 --> 00:01:55.560
because it puts me on a career track,

00:01:55.560 --> 00:01:58.320
I could make a lot, lot
more than I might otherwise.

00:01:58.320 --> 00:01:59.790
And once again, I would be doing it

00:01:59.790 --> 00:02:02.790
in a job that maybe I enjoy more."

00:02:02.790 --> 00:02:05.490
Now, generally speaking, and
I tell this to my own family,

00:02:05.490 --> 00:02:08.280
I tell this to my own kids,
I think that's a good idea.

00:02:08.280 --> 00:02:10.380
College is a good idea,

00:02:10.380 --> 00:02:12.960
but you have to tread very carefully

00:02:12.960 --> 00:02:15.780
when you decide where you want to go

00:02:15.780 --> 00:02:19.200
how much you wanna spend, and
what you decide to major in,

00:02:19.200 --> 00:02:23.250
and how you end up leveraging
that major into a career.

00:02:23.250 --> 00:02:25.680
Because when you go to a college

00:02:25.680 --> 00:02:28.440
folks are going to offer you
things like student debt.

00:02:28.440 --> 00:02:30.270
And they're also gonna
offer you grants and things.

00:02:30.270 --> 00:02:31.200
And grants are awesome

00:02:31.200 --> 00:02:33.960
because that's essentially
people are just giving you money.

00:02:33.960 --> 00:02:35.970
Obviously you have scholarships as well.

00:02:35.970 --> 00:02:38.100
But especially when you're taking on debt

00:02:38.100 --> 00:02:40.260
you really have to think
about, are you going to be

00:02:40.260 --> 00:02:43.350
in a position to pay off
this debt in the future

00:02:43.350 --> 00:02:46.920
and have a good standard of
living that you hope to have

00:02:46.920 --> 00:02:49.110
given the major that you choose

00:02:49.110 --> 00:02:51.180
and given what you know about yourself?

00:02:51.180 --> 00:02:53.250
And both of those are really important

00:02:53.250 --> 00:02:55.230
because sometimes you might
say, "Oh, well, you know,

00:02:55.230 --> 00:02:59.490
I've heard people in this major
can make all of this money,"

00:02:59.490 --> 00:03:01.170
but there might be a lot of work

00:03:01.170 --> 00:03:02.640
above and beyond doing the major.

00:03:02.640 --> 00:03:04.290
There might be a lot of hustling involved

00:03:04.290 --> 00:03:05.790
to to make sure you get the job.

00:03:05.790 --> 00:03:08.280
And there might be people
who aren't in that situation

00:03:08.280 --> 00:03:10.800
and you're only hearing
about the good stories.

00:03:10.800 --> 00:03:12.450
There might be certain majors

00:03:12.450 --> 00:03:14.790
where people are having
trouble getting a job,

00:03:14.790 --> 00:03:16.830
they're having trouble
paying down their debt.

00:03:16.830 --> 00:03:18.840
And so when you start thinking

00:03:18.840 --> 00:03:21.540
about what you wanna major
in, what type of career path

00:03:21.540 --> 00:03:23.280
do you want to go into,

00:03:23.280 --> 00:03:26.010
how much tuition you want to
pay at which universities,

00:03:26.010 --> 00:03:29.400
I really encourage you to talk
to as many people as you can,

00:03:29.400 --> 00:03:32.010
especially people who
have gone down that path,

00:03:32.010 --> 00:03:34.950
maybe 4 or 5 years, 10 years ahead of you.

00:03:34.950 --> 00:03:36.660
And if you don't know those folks,

00:03:36.660 --> 00:03:38.167
ask the college, ask the university,

00:03:38.167 --> 00:03:40.767
"Hey, I would like to talk
to some of the graduates.

00:03:41.760 --> 00:03:43.320
I don't wanna just take your word for it,

00:03:43.320 --> 00:03:45.810
a college that you have
good placement into jobs.

00:03:45.810 --> 00:03:47.730
I wanna talk to some
of the recent graduates

00:03:47.730 --> 00:03:50.820
and see if they were
happy paying that tuition,

00:03:50.820 --> 00:03:53.340
putting that time and energy,
the opportunity costs,

00:03:53.340 --> 00:03:55.620
and see if they think that was a good path

00:03:55.620 --> 00:03:56.820
or if they have some regrets

00:03:56.820 --> 00:03:59.640
that they wish they picked another path."

00:03:59.640 --> 00:04:01.059
Now the other thing to think about

00:04:01.059 --> 00:04:03.780
when you think about
investing in your education,

00:04:03.780 --> 00:04:06.120
there's often a, let's
call it a sticker price.

00:04:06.120 --> 00:04:07.320
If you just do a web search

00:04:07.320 --> 00:04:09.420
and you look at some
university and you'd say,

00:04:09.420 --> 00:04:10.650
well, what's the tuition,

00:04:10.650 --> 00:04:12.660
and what's the tuition
plus the room and board,

00:04:12.660 --> 00:04:14.610
which is the cost of living and eating,

00:04:14.610 --> 00:04:17.850
or housing and eating and all of that,

00:04:17.850 --> 00:04:19.440
there's some places that it could look

00:04:19.440 --> 00:04:22.650
like it's 50, 60, $70,000 a year

00:04:22.650 --> 00:04:24.780
when you put it all together.

00:04:24.780 --> 00:04:27.690
Now some folks will have to
pay that amount of money,

00:04:27.690 --> 00:04:30.000
which is a lot so you
have to be very careful

00:04:30.000 --> 00:04:32.880
if you take on that type of obligation,

00:04:32.880 --> 00:04:34.440
especially if you're taking on debt.

00:04:34.440 --> 00:04:35.640
But in a lot of cases

00:04:35.640 --> 00:04:38.520
you can get significant
financial aid depending

00:04:38.520 --> 00:04:39.870
on the university.

00:04:39.870 --> 00:04:41.010
I'll tell you from my point of view

00:04:41.010 --> 00:04:42.480
when I was in high school,

00:04:42.480 --> 00:04:45.840
a lot of my, let's call
it my dream schools,

00:04:45.840 --> 00:04:49.530
when I looked at the tuition
back then in the '90s,

00:04:49.530 --> 00:04:51.510
if you put tuition and living expenses,

00:04:51.510 --> 00:04:54.420
it was about 30, $35,000.

00:04:54.420 --> 00:04:57.150
And my family, my mom was,

00:04:57.150 --> 00:05:01.110
I was in a single mother
household, made about $16,000

00:05:01.110 --> 00:05:03.330
in the year that I was
a junior and a senior.

00:05:03.330 --> 00:05:04.230
I was like, okay, there's no way

00:05:04.230 --> 00:05:05.850
we're gonna be able to afford that.

00:05:05.850 --> 00:05:07.380
But I applied anyway.

00:05:07.380 --> 00:05:08.880
And the reason why I did is my sister,

00:05:08.880 --> 00:05:11.340
who was three years older,
told me about financial aid

00:05:11.340 --> 00:05:13.710
because she also went
to a similar university.

00:05:13.710 --> 00:05:16.140
And you don't know what
it's gonna cost you

00:05:16.140 --> 00:05:19.650
until you get in and they give
you a financial aid package.

00:05:19.650 --> 00:05:22.170
And that package is going
to be some scholarship,

00:05:22.170 --> 00:05:25.590
maybe some grants, and it'll be some loan.

00:05:25.590 --> 00:05:27.210
And then when I got that package

00:05:27.210 --> 00:05:29.100
I realized that it was actually doable.

00:05:29.100 --> 00:05:32.610
Now, I still did take on many
tens of thousands of dollars

00:05:32.610 --> 00:05:34.410
of debt, which is real money.

00:05:34.410 --> 00:05:36.300
And so I took it very seriously.

00:05:36.300 --> 00:05:37.890
I asked a lot of questions.

00:05:37.890 --> 00:05:42.120
I tried to do my best to make
sure I was going into a career

00:05:42.120 --> 00:05:43.740
that I had a good chance
of paying off that debt.

00:05:43.740 --> 00:05:45.990
And even when I was starting
to graduate from college

00:05:45.990 --> 00:05:47.437
I didn't just rest on my laurels and say,

00:05:47.437 --> 00:05:48.900
"Oh, I have a good degree.

00:05:48.900 --> 00:05:50.940
Surely someone will walk
up to me and give a job."

00:05:50.940 --> 00:05:51.810
No, I hustled.

00:05:51.810 --> 00:05:54.690
I hustled to make sure that I got a job

00:05:54.690 --> 00:05:57.090
that put me in a good financial position.

00:05:57.090 --> 00:05:58.500
So talk to a lot of people.

00:05:58.500 --> 00:05:59.880
Think about these questions.

00:05:59.880 --> 00:06:02.550
College generally is a good idea

00:06:02.550 --> 00:06:04.320
but all college isn't equal.

00:06:04.320 --> 00:06:05.760
All career paths aren't equal.

00:06:05.760 --> 00:06:08.910
And what you do with those
degrees, they aren't all equal.

00:06:08.910 --> 00:06:10.770
So really think hard about that.

00:06:10.770 --> 00:06:13.893
But if you do it, you'll
probably make a good investment.


Compare costs of postsecondary education

WEBVTT
Kind: captions
Language: en

00:00:01.290 --> 00:00:03.660
- So let's talk a little bit
about how to compare costs

00:00:03.660 --> 00:00:06.600
based on all of your college options.

00:00:06.600 --> 00:00:09.990
So the biggest piece of cost
is going to be your tuition,

00:00:09.990 --> 00:00:13.140
and then of course your living
expenses, room and board,

00:00:13.140 --> 00:00:15.630
where you're gonna live, and
what you're going to eat,

00:00:15.630 --> 00:00:17.010
and how you're going to eat it.

00:00:17.010 --> 00:00:18.900
And then there's a
bunch of other expenses.

00:00:18.900 --> 00:00:20.670
There's gonna be travel,
and entertainment.

00:00:20.670 --> 00:00:22.440
And everyone needs a little
bit of entertainment.

00:00:22.440 --> 00:00:24.960
And especially, if you're
going to a college,

00:00:24.960 --> 00:00:26.550
or one of your options
is to go to a college

00:00:26.550 --> 00:00:28.440
where you might have to travel by air.

00:00:28.440 --> 00:00:30.330
Well, that could get a
little bit more expensive.

00:00:30.330 --> 00:00:32.250
And then there's all
these other incidentals,

00:00:32.250 --> 00:00:35.640
things like textbooks,
and lab fees, et cetera.

00:00:35.640 --> 00:00:37.440
And so the first thing I would do

00:00:37.440 --> 00:00:40.050
is when you get your various options,

00:00:40.050 --> 00:00:41.880
and it's good to have as
many options as possible

00:00:41.880 --> 00:00:45.090
within reason, is try
to add all of that up.

00:00:45.090 --> 00:00:48.600
And now, one thing I wanna
make sure you keep in mind

00:00:48.600 --> 00:00:50.310
is the sticker cost.

00:00:50.310 --> 00:00:53.130
You know, when a university
just says our tuition is X,

00:00:53.130 --> 00:00:55.890
that's not necessarily
what you have to pay,

00:00:55.890 --> 00:00:58.380
and there's many ways for you to pay it.

00:00:58.380 --> 00:01:00.510
And in many cases, if
you come from a family

00:01:00.510 --> 00:01:02.130
that does not have a high income,

00:01:02.130 --> 00:01:04.290
you can get significant financial aid.

00:01:04.290 --> 00:01:06.099
Now, that financial aid could
be in the form of scholarship,

00:01:06.099 --> 00:01:08.130
it could be just a straight up grant

00:01:08.130 --> 00:01:10.290
based on your your family's need,

00:01:10.290 --> 00:01:13.200
or it could be some type of a loan.

00:01:13.200 --> 00:01:16.440
Now, once you have your options

00:01:16.440 --> 00:01:18.751
and you know what type of aid

00:01:18.751 --> 00:01:21.780
you can get for your different options,

00:01:21.780 --> 00:01:23.520
then you need to just compare them.

00:01:23.520 --> 00:01:27.750
And generally speaking, before
you consider financial aid,

00:01:27.750 --> 00:01:30.090
your least expensive options

00:01:30.090 --> 00:01:31.198
are probably going to be something

00:01:31.198 --> 00:01:34.320
like going to community
college close to home.

00:01:34.320 --> 00:01:36.300
And even if your goal
is a four year degree,

00:01:36.300 --> 00:01:38.880
in many states, I know
out here in California,

00:01:38.880 --> 00:01:41.460
you can go to a community
college for two years,

00:01:41.460 --> 00:01:43.440
and it's actually kind of a program

00:01:43.440 --> 00:01:45.990
to transfer then into four year colleges.

00:01:45.990 --> 00:01:47.550
So that could be an option.

00:01:47.550 --> 00:01:50.220
That could be cheaper,
you could live at home.

00:01:50.220 --> 00:01:52.110
The tuition tends to be a lot cheaper

00:01:52.110 --> 00:01:53.820
at the local community college,

00:01:53.820 --> 00:01:56.640
and then when you're ready to
transfer, you could transfer.

00:01:56.640 --> 00:01:58.650
The next most expensive option

00:01:58.650 --> 00:02:01.530
or the next higher price option

00:02:01.530 --> 00:02:05.220
is usually going to some
form of a state school,

00:02:05.220 --> 00:02:07.740
either a city school or a state school

00:02:07.740 --> 00:02:10.800
where they they give a special tuition

00:02:10.800 --> 00:02:13.230
for in-state residents.

00:02:13.230 --> 00:02:15.750
If you're strong academically,
there might also be schools

00:02:15.750 --> 00:02:18.060
that give you academic scholarships.

00:02:18.060 --> 00:02:20.160
And then you have a
bunch of private schools

00:02:20.160 --> 00:02:21.285
that usually have higher tuition

00:02:21.285 --> 00:02:25.380
than for sure the state schools
and the community colleges.

00:02:25.380 --> 00:02:29.070
And there, the key is to
not make your decision

00:02:29.070 --> 00:02:30.811
until you know whether
they're going to give you

00:02:30.811 --> 00:02:33.090
financial aid, and how,

00:02:33.090 --> 00:02:34.920
and what kind of financial aid that is.

00:02:34.920 --> 00:02:36.390
Obviously, scholarships and grants

00:02:36.390 --> 00:02:38.190
are a lot better than loans,

00:02:38.190 --> 00:02:39.810
but then once you have
all of that information,

00:02:39.810 --> 00:02:41.430
you can make your decision.

00:02:41.430 --> 00:02:42.910
And don't make your decision

00:02:42.910 --> 00:02:46.111
purely on cost or purely on price.

00:02:46.111 --> 00:02:48.000
It might be tempting say,
"Oh, I'm gonna end up

00:02:48.000 --> 00:02:49.650
with a four year degree no matter what.

00:02:49.650 --> 00:02:51.930
Let me just take the
cheapest possible option."

00:02:51.930 --> 00:02:55.020
That might be a good idea,
but ask a lot of questions.

00:02:55.020 --> 00:02:57.540
It might turn out that maybe one option

00:02:57.540 --> 00:02:58.770
is a little bit more expensive

00:02:58.770 --> 00:03:00.900
even after you consider financial aid,

00:03:00.900 --> 00:03:02.670
but when you talk to recent graduates,

00:03:02.670 --> 00:03:05.460
they say, "Hey, that was
an amazing experience.

00:03:05.460 --> 00:03:07.500
It helped me grow so much."

00:03:07.500 --> 00:03:10.410
And maybe the career services there,

00:03:10.410 --> 00:03:12.840
or there's just a lot of
recruiters that go to that campus

00:03:12.840 --> 00:03:14.610
that would not go to the other campuses,

00:03:14.610 --> 00:03:17.730
and so their job prospects
are a lot better.

00:03:17.730 --> 00:03:19.200
And so it's not just the cost.

00:03:19.200 --> 00:03:21.450
You're making an investment in yourself.

00:03:21.450 --> 00:03:22.620
So it's not just the cost.

00:03:22.620 --> 00:03:25.230
You have to see the return
on that cost, you know.

00:03:25.230 --> 00:03:26.730
So if you were investing in two stocks,

00:03:26.730 --> 00:03:28.530
it wouldn't be that the dollar stock

00:03:28.530 --> 00:03:30.700
is better than the $2 stock

00:03:30.700 --> 00:03:33.510
if the $2 stock is gonna
give you a better return.

00:03:33.510 --> 00:03:35.310
Same thing about colleges.

00:03:35.310 --> 00:03:36.360
Now, I won't say the expensive one

00:03:36.360 --> 00:03:38.850
is also always going to
be the best one either.

00:03:38.850 --> 00:03:41.310
You really have to think what
you're gonna be putting in,

00:03:41.310 --> 00:03:43.680
and then what you think
you'll likely get out,

00:03:43.680 --> 00:03:45.360
and also, where are you going to thrive?

00:03:45.360 --> 00:03:47.580
Because if you go to a place
where you're not happy,

00:03:47.580 --> 00:03:48.870
where you're not engaged,

00:03:48.870 --> 00:03:51.030
well, then that's really
kind of setting yourself up

00:03:51.030 --> 00:03:53.913
for a not optimal situation.


The cost of education

WEBVTT
Kind: captions
Language: en

00:00:01.380 --> 00:00:05.220
- So let's think about all
of the costs of an education.

00:00:05.220 --> 00:00:07.620
So the first thing that
most people think about

00:00:07.620 --> 00:00:10.293
is the actual tuition that you would pay.

00:00:11.149 --> 00:00:13.890
If you go to a standard four-year college,

00:00:13.890 --> 00:00:16.560
it could be tens of
thousands of dollars a year.

00:00:16.560 --> 00:00:18.720
If you go to a community college

00:00:18.720 --> 00:00:19.950
or you go to a state university,

00:00:19.950 --> 00:00:20.970
it could be a good bit less

00:00:20.970 --> 00:00:22.920
so it's something to think about.

00:00:22.920 --> 00:00:25.710
And there's other forms of what
I would consider education,

00:00:25.710 --> 00:00:28.890
things like apprenticeships,
co-op programs

00:00:28.890 --> 00:00:31.320
where you might even be able
to make a little bit yourself.

00:00:31.320 --> 00:00:33.540
I guess you could consider
that negative tuition,

00:00:33.540 --> 00:00:34.440
but that's the first thing.

00:00:34.440 --> 00:00:36.270
It's just how much are you going to pay

00:00:36.270 --> 00:00:38.430
for someone to help train you

00:00:38.430 --> 00:00:41.490
and for someone to help educate you?

00:00:41.490 --> 00:00:44.040
The next cost, and I'll
try to go roughly in order,

00:00:44.040 --> 00:00:47.550
are probably things that
you're gonna need to live

00:00:47.550 --> 00:00:50.280
wherever you are getting educated.

00:00:50.280 --> 00:00:52.183
And I know you might be thinking,

00:00:52.183 --> 00:00:54.210
"well, I'm gonna have to
live someplace regardless.

00:00:54.210 --> 00:00:55.500
I'm gonna have to find food.

00:00:55.500 --> 00:00:58.830
I'm gonna have to have a place to stay."

00:00:58.830 --> 00:01:01.500
But if you decide to go to college,

00:01:01.500 --> 00:01:03.000
let's say, in a more expensive city,

00:01:03.000 --> 00:01:05.550
then those expenses could be a lot more.

00:01:05.550 --> 00:01:07.650
And also, certain
colleges and universities

00:01:07.650 --> 00:01:11.130
have certain rules about where
you are or aren't allowed

00:01:11.130 --> 00:01:13.680
to stay, or you might
want to stay on campus

00:01:13.680 --> 00:01:15.840
which might have certain costs with it.

00:01:15.840 --> 00:01:17.340
So I would definitely consider

00:01:17.340 --> 00:01:18.960
what's often called room and board,

00:01:18.960 --> 00:01:20.880
which is where do you live

00:01:20.880 --> 00:01:22.770
and how are you getting your food

00:01:22.770 --> 00:01:25.530
to be a pretty substantial cost.

00:01:25.530 --> 00:01:28.430
Another cost, and I'm trying
to once again, to go in order

00:01:29.332 --> 00:01:32.520
of of magnitude of cost,
is the opportunity cost.

00:01:32.520 --> 00:01:33.870
What else could you be doing

00:01:33.870 --> 00:01:36.570
with that time that you're
putting into that education?

00:01:36.570 --> 00:01:39.180
You could be getting
some type of other job.

00:01:39.180 --> 00:01:41.010
So there is the opportunity cost

00:01:41.010 --> 00:01:44.700
of lost income when you
go get an education,

00:01:44.700 --> 00:01:47.160
especially when you think about
things like graduate school.

00:01:47.160 --> 00:01:50.280
You could be out in the job
market there earning money.

00:01:50.280 --> 00:01:54.270
And then beyond that, there's
all sorts of smaller expenses,

00:01:54.270 --> 00:01:56.520
but expenses that still can add up.

00:01:56.520 --> 00:01:59.740
I definitely had sticker
shock when I went to college

00:02:00.884 --> 00:02:02.280
and I saw how much textbooks cost.

00:02:02.280 --> 00:02:06.060
And this was about 25 years
ago, almost 30 years ago.

00:02:06.060 --> 00:02:07.203
Yeah, I'm getting old,

00:02:08.130 --> 00:02:11.460
but they can easily cost
hundreds of dollars.

00:02:11.460 --> 00:02:14.310
I remember, I always tried to see

00:02:14.310 --> 00:02:16.620
if I could check it outta the
library or share a textbook

00:02:16.620 --> 00:02:19.632
with a friend to avoid
some of that expense.

00:02:19.632 --> 00:02:20.880
I know now there's some rental textbooks

00:02:20.880 --> 00:02:22.980
and digital textbooks
and open source textbooks

00:02:22.980 --> 00:02:25.170
which might hopefully help with that cost,

00:02:25.170 --> 00:02:27.900
but that could be really
a significant expense.

00:02:27.900 --> 00:02:29.910
Things like textbooks or lab materials

00:02:29.910 --> 00:02:31.140
or all of these other things

00:02:31.140 --> 00:02:33.570
that might not be included in tuition.

00:02:33.570 --> 00:02:35.910
And then on top of that, once again,

00:02:35.910 --> 00:02:37.560
you're going to wanna do all the things

00:02:37.560 --> 00:02:39.480
that any reasonable person would wanna do

00:02:39.480 --> 00:02:42.030
when they're living, which is
not just have a place to stay

00:02:42.030 --> 00:02:45.150
and have food, but maybe
entertainment, some travel.

00:02:45.150 --> 00:02:46.800
And that could change dramatically,

00:02:46.800 --> 00:02:50.070
if, let's say, you are
going to go to college

00:02:50.070 --> 00:02:51.990
in a different city than where you live

00:02:51.990 --> 00:02:53.520
and you're gonna travel back and forth,

00:02:53.520 --> 00:02:54.570
maybe on a plane.

00:02:54.570 --> 00:02:56.970
That can get reasonably expensive.

00:02:56.970 --> 00:03:00.360
And then obviously,
entertainment and travel

00:03:00.360 --> 00:03:01.950
in a bigger city, and say New York,

00:03:01.950 --> 00:03:04.100
it's gonna cost a lot
more than if you live

00:03:05.215 --> 00:03:07.380
in a small town or decide to
go to college in a small town.

00:03:07.380 --> 00:03:10.440
So that's, I would say, the space

00:03:10.440 --> 00:03:12.690
of all of the places where
you could spend your money.

00:03:12.690 --> 00:03:16.920
But I wanna really make sure
that this doesn't scare you

00:03:16.920 --> 00:03:20.610
because when you oftentimes
just add all of those together,

00:03:20.610 --> 00:03:23.250
it can be tens of thousands
of dollars a year.

00:03:23.250 --> 00:03:25.293
In some cases can even approach,

00:03:25.293 --> 00:03:28.950
you know, approaching six
figures in a given year,

00:03:28.950 --> 00:03:31.560
but you really don't know what
your costs are going to be

00:03:31.560 --> 00:03:34.590
until you apply and you figure out

00:03:34.590 --> 00:03:37.020
what kind of a financial
aid package you get.

00:03:37.020 --> 00:03:39.420
Many of what you would
call the sticker price

00:03:39.420 --> 00:03:40.710
of a lot of universities

00:03:40.710 --> 00:03:43.950
is what they would charge
someone who's not coming in

00:03:43.950 --> 00:03:46.200
with a scholarship, who's
getting no financial aid.

00:03:46.200 --> 00:03:49.560
So these are usually going
to be more affluent people

00:03:49.560 --> 00:03:51.630
are going to usually
have to pay those costs.

00:03:51.630 --> 00:03:55.740
But if you come from a
less well-heeled family

00:03:55.740 --> 00:03:57.720
and those numbers look scary to you,

00:03:57.720 --> 00:03:59.430
it actually turns out that sometimes

00:03:59.430 --> 00:04:01.320
some of the more expensive universities

00:04:01.320 --> 00:04:04.560
are the more generous
ones with financial aid.

00:04:04.560 --> 00:04:07.290
I'll just use myself as an example.

00:04:07.290 --> 00:04:10.200
The college I wanted to go
to when I was in high school,

00:04:10.200 --> 00:04:11.640
at the time, this was in the nineties.

00:04:11.640 --> 00:04:13.680
It cost even then with room
and board and everything,

00:04:13.680 --> 00:04:15.240
it was over $30,000 a year,

00:04:15.240 --> 00:04:18.420
which was more than twice what
my mom was making that year.

00:04:18.420 --> 00:04:20.550
So I was like, "there's no way
I'm gonna be able to do it."

00:04:20.550 --> 00:04:23.310
But my sister went to a
similar type of school

00:04:23.310 --> 00:04:24.570
that had similar type of tuition

00:04:24.570 --> 00:04:26.970
and she got significant financial aid

00:04:26.970 --> 00:04:29.550
because my mother did
not make a lot of money.

00:04:29.550 --> 00:04:30.810
We were on free and reduced lunch

00:04:30.810 --> 00:04:32.193
when I was in high school.

00:04:33.300 --> 00:04:34.133
They saw that.

00:04:35.092 --> 00:04:37.710
And my mom's contribution,

00:04:37.710 --> 00:04:39.330
even though the sticker
price was, you know,

00:04:39.330 --> 00:04:40.470
30 something thousand dollars,

00:04:40.470 --> 00:04:44.752
my mom's contribution was
something like $1,500 a year.

00:04:44.752 --> 00:04:47.220
And then I did accumulate some debt.

00:04:47.220 --> 00:04:50.310
So, you know, I accumulated
about $30,000 in debt

00:04:50.310 --> 00:04:53.100
over four years, which
is still a lot better

00:04:53.100 --> 00:04:56.100
than it could have been over
a hundred thousand dollars.

00:04:56.100 --> 00:04:58.380
But you still have to be
careful even with that

00:04:58.380 --> 00:05:00.690
to make sure that you're
going into something

00:05:00.690 --> 00:05:03.390
that you feel confident
you'll be able to be employed.

00:05:03.390 --> 00:05:06.000
It's something that you'll
enjoy being employed in

00:05:06.000 --> 00:05:07.470
and something that you can
really put the effort in

00:05:07.470 --> 00:05:09.270
to get those jobs so
that you're in a position

00:05:09.270 --> 00:05:11.250
to pay back the debt and the investment

00:05:11.250 --> 00:05:13.050
in your education pays off.

00:05:13.050 --> 00:05:16.140
But I encourage you, you
know, look at the spectrum.

00:05:16.140 --> 00:05:17.910
One, be aware of the costs.

00:05:17.910 --> 00:05:20.100
Be aware of what the
different outcomes would be

00:05:20.100 --> 00:05:21.150
and then think about,

00:05:21.150 --> 00:05:23.430
okay, do I want to live
in a big city, small town?

00:05:23.430 --> 00:05:25.440
There might be cost implications there.

00:05:25.440 --> 00:05:27.900
Do I want to go to a private school?

00:05:27.900 --> 00:05:29.550
Do I want to go to a state university?

00:05:29.550 --> 00:05:30.930
Do I wanna spend maybe two years

00:05:30.930 --> 00:05:33.069
at a community college and then transfer?

00:05:33.069 --> 00:05:34.530
These are all potential options

00:05:34.530 --> 00:05:35.850
that affect the cost equation,

00:05:35.850 --> 00:05:37.860
but they also have other
trade-offs as well.

00:05:37.860 --> 00:05:40.230
So it's more nuanced than you think,

00:05:40.230 --> 00:05:41.520
but I think especially if you come

00:05:41.520 --> 00:05:43.380
from a lower income household,

00:05:43.380 --> 00:05:46.530
there's probably more
options than you realize.

00:05:46.530 --> 00:05:48.960
In many cases, you should
at least try to apply

00:05:48.960 --> 00:05:51.810
for some of these more
aspirational schools

00:05:51.810 --> 00:05:53.310
if that's interesting to you

00:05:53.310 --> 00:05:55.910
and see what they offer
you, you might be surprised.


Choosing the right college

WEBVTT
Kind: captions
Language: en

00:00:01.290 --> 00:00:04.050
- So let's think a little bit
about how you might decide

00:00:04.050 --> 00:00:05.850
where you want to go to college.

00:00:05.850 --> 00:00:07.350
And the first thing I'll remind you,

00:00:07.350 --> 00:00:10.860
because this can oftentimes be
a pretty stressful decision,

00:00:10.860 --> 00:00:13.200
is that there is no right decision.

00:00:13.200 --> 00:00:15.390
You just need to make the decision right.

00:00:15.390 --> 00:00:16.770
Now, what do I mean by that?

00:00:16.770 --> 00:00:20.790
Is there are plenty of great
colleges and universities

00:00:20.790 --> 00:00:22.410
and community colleges.

00:00:22.410 --> 00:00:26.737
And if you go to them with an attitude of,

00:00:26.737 --> 00:00:28.470
"Hey, I'm going to take advantage

00:00:28.470 --> 00:00:32.400
of what this campus, what
this program has to offer.

00:00:32.400 --> 00:00:34.920
I'm going to put myself
out of my comfort zone.

00:00:34.920 --> 00:00:36.390
I'm going to sign up for clubs.

00:00:36.390 --> 00:00:38.550
I'm going to introduce myself to people.

00:00:38.550 --> 00:00:40.290
I'm going to try to get internships.

00:00:40.290 --> 00:00:43.080
I'm gonna try to join co-op programs.

00:00:43.080 --> 00:00:45.600
I'm gonna try to get
to know my professors,"

00:00:45.600 --> 00:00:48.600
you'll probably do
pretty well, pretty much,

00:00:48.600 --> 00:00:50.820
as long as you go to one
of these reasonable places.

00:00:50.820 --> 00:00:51.653
Now, on the other hand,

00:00:51.653 --> 00:00:54.630
you could go to some of the
fanciest colleges on the planet,

00:00:54.630 --> 00:00:57.300
but if you go there a little
bit afraid to step out

00:00:57.300 --> 00:01:01.116
of your comfort zone, if
you're a little bit passive

00:01:01.116 --> 00:01:03.180
about your education,

00:01:03.180 --> 00:01:05.130
you kinda just let the
education happen to you

00:01:05.130 --> 00:01:07.980
as opposed to you
happening to the eduction,

00:01:07.980 --> 00:01:09.060
then it might not be great.

00:01:09.060 --> 00:01:11.310
Or it just might not
be a great fit for you

00:01:11.310 --> 00:01:13.020
for whatever reason.

00:01:13.020 --> 00:01:15.270
So it's not about someplace being perfect.

00:01:15.270 --> 00:01:17.550
It's about what you bring to it.

00:01:17.550 --> 00:01:18.960
Now, with that said,

00:01:18.960 --> 00:01:21.150
there probably are certain types of places

00:01:21.150 --> 00:01:24.510
that you might thrive more than others.

00:01:24.510 --> 00:01:26.940
So the first thing, and we talk
about this in other videos,

00:01:26.940 --> 00:01:29.640
you can look at the cost
of different options

00:01:29.640 --> 00:01:31.680
and always keep in mind
things like financial aid.

00:01:31.680 --> 00:01:33.330
Don't just look at the sticker cost.

00:01:33.330 --> 00:01:34.980
Sometimes the financial aid at some

00:01:34.980 --> 00:01:36.600
of the most expensive universities

00:01:36.600 --> 00:01:39.120
is the most significant financial aid.

00:01:39.120 --> 00:01:40.710
So definitely take a look at that.

00:01:40.710 --> 00:01:41.970
But it's not just about cost.

00:01:41.970 --> 00:01:44.100
It's also about benefit.

00:01:44.100 --> 00:01:45.780
Talk to a lot of folks,

00:01:45.780 --> 00:01:48.750
especially students who
are at that program,

00:01:48.750 --> 00:01:50.970
ideally people who are recent graduates

00:01:50.970 --> 00:01:53.370
or who graduated maybe
five or 10 years ago,

00:01:53.370 --> 00:01:57.330
and ask them about both
their career opportunities,

00:01:57.330 --> 00:01:58.860
any regrets they might have,

00:01:58.860 --> 00:02:02.130
whether what they thought
was going to happen happened.

00:02:02.130 --> 00:02:03.300
Was it better than expected?

00:02:03.300 --> 00:02:04.500
Was it worse than expected?

00:02:04.500 --> 00:02:06.330
And also about their experience.

00:02:06.330 --> 00:02:08.310
There could be two folks who end up

00:02:08.310 --> 00:02:11.670
in a similar place
career-wise and money-wise,

00:02:11.670 --> 00:02:13.290
but one might say, "Yeah, you know,

00:02:13.290 --> 00:02:15.240
my four years of college really,

00:02:15.240 --> 00:02:16.830
it wasn't really working out for me.

00:02:16.830 --> 00:02:18.870
It wasn't really, weren't
really great years."

00:02:18.870 --> 00:02:20.107
And there could be someone else who says,

00:02:20.107 --> 00:02:21.330
"Well, you know, those
were some of the best years

00:02:21.330 --> 00:02:22.770
of my life.

00:02:22.770 --> 00:02:24.300
I met some of my best friends.

00:02:24.300 --> 00:02:26.760
I was so stimulated," et cetera.

00:02:26.760 --> 00:02:29.040
So that has to be part
of the equation too.

00:02:29.040 --> 00:02:32.250
We're not living just to make money

00:02:32.250 --> 00:02:33.840
and have a job and pay bills.

00:02:33.840 --> 00:02:35.850
Now, that's important too,

00:02:35.850 --> 00:02:39.000
but it's also about having
an experience in life

00:02:39.000 --> 00:02:40.560
that you think might be fulfilling

00:02:40.560 --> 00:02:43.590
and make you a better
person in a lot of ways.

00:02:43.590 --> 00:02:45.450
Now, your general options are going to be,

00:02:45.450 --> 00:02:46.980
obviously, you could go
to a four-year college,

00:02:46.980 --> 00:02:48.360
four-year colleges.

00:02:48.360 --> 00:02:51.030
You'll often have your in-state colleges,

00:02:51.030 --> 00:02:52.860
which will tend to have lower tuition.

00:02:52.860 --> 00:02:54.570
And then you might have
the private colleges,

00:02:54.570 --> 00:02:56.610
which will have, tend
to have higher tuition.

00:02:56.610 --> 00:03:00.120
But once again, keep in mind
things like financial aid.

00:03:00.120 --> 00:03:02.400
Don't write off an expensive university

00:03:02.400 --> 00:03:03.540
without looking a little bit

00:03:03.540 --> 00:03:05.220
into how they give financial aid

00:03:05.220 --> 00:03:06.270
and whether you might be able

00:03:06.270 --> 00:03:09.480
to get a pretty good
financial aid package.

00:03:09.480 --> 00:03:13.050
Now, you also have associate
programs, community colleges.

00:03:13.050 --> 00:03:14.700
These might be really great options.

00:03:14.700 --> 00:03:16.620
The cost can be significant lower,

00:03:16.620 --> 00:03:17.880
especially 'cause they're close to home.

00:03:17.880 --> 00:03:19.320
Maybe you live at home.

00:03:19.320 --> 00:03:21.600
And in many cases, you can
go to one of those programs,

00:03:21.600 --> 00:03:24.540
and sometimes get a great
job coming out of them,

00:03:24.540 --> 00:03:27.270
or you can transfer to a four-year degree

00:03:27.270 --> 00:03:30.180
and save some money in the process

00:03:30.180 --> 00:03:32.910
for at least two first two years.

00:03:32.910 --> 00:03:36.780
The one thing I will tell you
to be a little bit wary of

00:03:36.780 --> 00:03:40.080
are what I would, and I
don't wanna say, you know,

00:03:40.080 --> 00:03:43.830
all for-profit universities
are bad or good or et cetera,

00:03:43.830 --> 00:03:46.801
but when you're looking at
colleges and associate programs

00:03:46.801 --> 00:03:49.200
that are for-profit,

00:03:49.200 --> 00:03:51.120
so they aren't
not-for-profit organizations,

00:03:51.120 --> 00:03:53.340
they're owned by a corporation,

00:03:53.340 --> 00:03:55.140
you just have to be a little bit wary

00:03:55.140 --> 00:03:56.400
about what their motivations are.

00:03:56.400 --> 00:03:58.920
Especially many times, they'll
have a lotta marketing.

00:03:58.920 --> 00:04:01.710
They'll really talk
about all of the things

00:04:01.710 --> 00:04:03.120
that they're doing for their students.

00:04:03.120 --> 00:04:04.830
But you need to ask the hard questions

00:04:04.830 --> 00:04:07.500
to make sure that those
outcomes are really happening.

00:04:07.500 --> 00:04:08.333
I'll tell you a story.

00:04:08.333 --> 00:04:10.230
When I used to work at an investment fund,

00:04:10.230 --> 00:04:12.480
we once talked to a
publicly traded company

00:04:12.480 --> 00:04:16.590
that ran some of these associate programs.

00:04:16.590 --> 00:04:19.140
And I have to tell you, (laughing)

00:04:19.140 --> 00:04:22.170
they seemed very focused on
what their marketing costs were

00:04:22.170 --> 00:04:25.590
and how long the students needed to spend

00:04:25.590 --> 00:04:28.170
at their campus or their online program

00:04:28.170 --> 00:04:30.720
in order for them to collect
the government grants.

00:04:31.650 --> 00:04:33.630
But they really didn't
have great outcomes.

00:04:33.630 --> 00:04:36.150
And so this was a situation
where their motivation,

00:04:36.150 --> 00:04:37.560
and I'm not saying this
going to be the case

00:04:37.560 --> 00:04:39.594
for all for-profit universities,

00:04:39.594 --> 00:04:41.407
but their motivation was definitely,

00:04:41.407 --> 00:04:44.430
"Hey, you know, we wanna market
as aggressively as possible,

00:04:44.430 --> 00:04:45.900
get people through the door,

00:04:45.900 --> 00:04:47.760
collect some of that
government grant money,

00:04:47.760 --> 00:04:50.250
and then yeah, you know,
hopefully something good happens

00:04:50.250 --> 00:04:52.740
to them afterwards," but they
didn't seem as focused there.

00:04:52.740 --> 00:04:53.970
And it's also not to say

00:04:53.970 --> 00:04:57.570
that all not-for-profit
universities are perfect either.

00:04:57.570 --> 00:04:59.850
Similarly, you have to really scrutinize.

00:04:59.850 --> 00:05:01.447
They might give you some numbers about,

00:05:01.447 --> 00:05:03.120
"Hey, our average graduate does this

00:05:03.120 --> 00:05:05.070
or the average graduate
with a job gets this."

00:05:05.070 --> 00:05:06.720
But you have to say, "Well,
how many of them get a job?

00:05:06.720 --> 00:05:08.550
And how quickly do they get a job?"

00:05:08.550 --> 00:05:11.550
I would recommend actually
talking to real people,

00:05:11.550 --> 00:05:14.400
recent graduates, seniors
looking to get a job,

00:05:14.400 --> 00:05:17.550
to see if those outcomes really hold up.

00:05:17.550 --> 00:05:19.170
Or did they have to really hustle for them

00:05:19.170 --> 00:05:20.370
in ways that maybe the college

00:05:20.370 --> 00:05:21.990
didn't support them that much?

00:05:21.990 --> 00:05:23.716
That's real information.

00:05:23.716 --> 00:05:26.550
So what I would recommend,

00:05:26.550 --> 00:05:28.800
keep a reasonable number of options,

00:05:28.800 --> 00:05:30.660
some that might be a little
bit more of a stretch,

00:05:30.660 --> 00:05:33.120
some that might be your
backup and very affordable,

00:05:33.120 --> 00:05:34.350
you know they are going to be.

00:05:34.350 --> 00:05:36.360
But then before you make the decision,

00:05:36.360 --> 00:05:38.010
definitely visit the campus,

00:05:38.010 --> 00:05:41.220
see how it feels, talk
to people on the campus,

00:05:41.220 --> 00:05:43.230
see if it resonates,
their experience seems

00:05:43.230 --> 00:05:44.580
like something you'd want.

00:05:44.580 --> 00:05:47.343
And also talk to as
many people as possible,

00:05:48.210 --> 00:05:50.190
especially recent grads or seniors

00:05:50.190 --> 00:05:51.270
that might be looking for a job.

00:05:51.270 --> 00:05:52.620
And don't be afraid to ask (laughing)

00:05:52.620 --> 00:05:54.780
what I would call slightly
impolite questions,

00:05:54.780 --> 00:05:57.120
which is like, "How much
money are you making?

00:05:57.120 --> 00:05:58.200
Are you stressed about it?

00:05:58.200 --> 00:05:59.550
Are you making what you thought you were?

00:05:59.550 --> 00:06:02.670
How much did the school help
you with career placement?

00:06:02.670 --> 00:06:04.020
Do you think you would've gotten this job

00:06:04.020 --> 00:06:06.690
if you went someplace else?

00:06:06.690 --> 00:06:09.360
Do you wish you majored in something else?

00:06:09.360 --> 00:06:10.710
Do you have any?" et cetera.

00:06:10.710 --> 00:06:14.310
So you have your future in front of you.

00:06:14.310 --> 00:06:16.920
Just ask really, really good
questions of a lot of folks.

00:06:16.920 --> 00:06:18.420
Be a little bit nosy.

00:06:18.420 --> 00:06:20.370
Don't always accept what people tell you,

00:06:20.370 --> 00:06:22.710
especially the
universities, at face value.

00:06:22.710 --> 00:06:24.420
Double check for yourself.

00:06:24.420 --> 00:06:26.870
And then you'll probably
be in pretty good shape.


Why invest in yourself?

WEBVTT
Kind: captions
Language: en

00:00:01.230 --> 00:00:04.380
- [Instructor] This chart
right over here is at bls.gov.

00:00:04.380 --> 00:00:08.190
BLS stands for the Bureau
of Labor Statistics.

00:00:08.190 --> 00:00:11.190
And it has a pretty
interesting trend here.

00:00:11.190 --> 00:00:14.220
It shows that the higher the degree level

00:00:14.220 --> 00:00:15.720
that someone gets,

00:00:15.720 --> 00:00:20.720
it is associated with higher
median weekly earnings, right?

00:00:21.690 --> 00:00:24.450
'Cause they're saying median
usual weekly earnings.

00:00:24.450 --> 00:00:26.610
And you could also see it's associated

00:00:26.610 --> 00:00:29.130
with lower and lower unemployment

00:00:29.130 --> 00:00:31.680
the higher of a degree you get.

00:00:31.680 --> 00:00:34.620
So one takeaway from this might be,

00:00:34.620 --> 00:00:36.540
well, if you wanna make more money

00:00:36.540 --> 00:00:38.580
and if you wanna have lower unemployment,

00:00:38.580 --> 00:00:42.120
and I think those are things
that most people aspire for,

00:00:42.120 --> 00:00:44.820
it might make sense to
have higher and higher

00:00:44.820 --> 00:00:48.060
level of degrees, or get
more and more education.

00:00:48.060 --> 00:00:52.110
Now, I will put a few
of disclaimers on that

00:00:52.110 --> 00:00:55.050
because it's not necessarily the fact

00:00:55.050 --> 00:00:57.960
that the education is
causing the higher income.

00:00:57.960 --> 00:01:01.620
It might be the fact that
people who are really organized,

00:01:01.620 --> 00:01:05.310
who are really hardworking, who
are doing well academically,

00:01:05.310 --> 00:01:08.400
which are all ingredients
for maybe success,

00:01:08.400 --> 00:01:12.150
that those people also just
decide to get more education

00:01:12.150 --> 00:01:14.820
and then they become more successful.

00:01:14.820 --> 00:01:17.880
It's probably, in my mind,
a combination of both.

00:01:17.880 --> 00:01:22.260
The actual education does
make you actually more trained

00:01:22.260 --> 00:01:24.840
and more capable and more
ready for the workforce.

00:01:24.840 --> 00:01:26.940
And it also opens doors for you

00:01:26.940 --> 00:01:29.490
that wouldn't have been opened otherwise.

00:01:29.490 --> 00:01:32.130
But there is an aspect of the same person

00:01:32.130 --> 00:01:34.350
who might have gotten a doctoral degree.

00:01:34.350 --> 00:01:36.000
If you were able to run an experiment

00:01:36.000 --> 00:01:38.190
and they weren't able to
get a doctoral degree,

00:01:38.190 --> 00:01:41.100
maybe they might be just as successful.

00:01:41.100 --> 00:01:42.930
We'll never know cause
it's very hard to run

00:01:42.930 --> 00:01:45.300
that exact same experiment.

00:01:45.300 --> 00:01:48.870
But generally speaking, more
education does seem to help.

00:01:48.870 --> 00:01:52.200
It does look like it's an
investment in your earnings

00:01:52.200 --> 00:01:55.290
and in your employability, so to speak.

00:01:55.290 --> 00:01:56.370
Another thing to think about.

00:01:56.370 --> 00:01:57.517
You might just look at this and say,

00:01:57.517 --> 00:02:01.140
"Oh, if I wanna be as little
unemployed as possible

00:02:01.140 --> 00:02:03.030
or make as much money as possible,

00:02:03.030 --> 00:02:04.800
I should either go get a PhD

00:02:04.800 --> 00:02:06.900
or I should get a professional degree

00:02:06.900 --> 00:02:10.050
like become a lawyer or become a doctor."

00:02:10.050 --> 00:02:12.660
And that might be true in certain cases,

00:02:12.660 --> 00:02:15.600
but not all degrees are going to be equal

00:02:15.600 --> 00:02:19.890
in terms of employability and
equal in terms of earnings.

00:02:19.890 --> 00:02:22.230
For example, there's
some bachelor's degrees

00:02:22.230 --> 00:02:23.910
that can make very good money.

00:02:23.910 --> 00:02:26.490
Oftentimes, a lot more
money than a doctoral degree

00:02:26.490 --> 00:02:27.450
or a professional degree.

00:02:27.450 --> 00:02:28.650
For example, if you were to major

00:02:28.650 --> 00:02:31.890
in some types of engineering,
or I guess computer science,

00:02:31.890 --> 00:02:33.330
which is also a high demand,

00:02:33.330 --> 00:02:35.220
I guess that's also part of engineering.

00:02:35.220 --> 00:02:36.720
There could even be associate's degrees

00:02:36.720 --> 00:02:37.920
that pay very, very well.

00:02:37.920 --> 00:02:39.120
A lot of the trades.

00:02:39.120 --> 00:02:41.310
Go become an electrician, become a plumber

00:02:41.310 --> 00:02:43.380
can pay better, in many cases,

00:02:43.380 --> 00:02:45.870
than some folks who get a PhD.

00:02:45.870 --> 00:02:47.670
So you just need to think about

00:02:47.670 --> 00:02:50.160
not just the level of education,

00:02:50.160 --> 00:02:53.640
but which particular
field you're going into.

00:02:53.640 --> 00:02:55.380
And maybe more importantly,

00:02:55.380 --> 00:02:58.500
is that going to be a field
where you think you can thrive

00:02:58.500 --> 00:03:01.320
and really dig into that career

00:03:01.320 --> 00:03:03.690
and make something out of it?

00:03:03.690 --> 00:03:05.257
But I think the combination of saying,

00:03:05.257 --> 00:03:09.990
"Hey, in general, more education
is probably a good thing,"

00:03:09.990 --> 00:03:13.140
as long as you don't take it for granted

00:03:13.140 --> 00:03:14.610
that just a degree by itself

00:03:14.610 --> 00:03:16.470
is what's going to make you successful.

00:03:16.470 --> 00:03:20.370
And you're very thoughtful
about picking a path,

00:03:20.370 --> 00:03:22.110
not just how far you wanna go,

00:03:22.110 --> 00:03:24.270
but the actual lane you wanna go in,

00:03:24.270 --> 00:03:28.170
that both you believe,
based on information,

00:03:28.170 --> 00:03:31.680
talking to folks, gives you
good financial prospects.

00:03:31.680 --> 00:03:33.180
And it's one that you're
going to thrive in.

00:03:33.180 --> 00:03:35.760
Because you could go and become a doctor,

00:03:35.760 --> 00:03:36.900
but if that's not something

00:03:36.900 --> 00:03:38.167
that you wake up every
morning, you're like,

00:03:38.167 --> 00:03:39.330
"Oh, I love being a doctor,"

00:03:39.330 --> 00:03:40.597
and at some point you're like,

00:03:40.597 --> 00:03:42.030
"Well, I don't wanna
become a doctor anymore,"

00:03:42.030 --> 00:03:44.520
then the degree's probably
not going to help you as much.

00:03:44.520 --> 00:03:45.750
It might help you get some other type

00:03:45.750 --> 00:03:47.340
of healthcare job or something.

00:03:47.340 --> 00:03:48.660
So just think about these things.

00:03:48.660 --> 00:03:52.380
But this is a general
chart that, hey, yeah,

00:03:52.380 --> 00:03:54.230
maybe education is a good investment.