1) Click on the clip (just a normal left click)
2) Go to Tools > Titles and Credits
3) Click on "Title on the selected clip" and enter your text
You can move the title to different points on the video, or make it longer, by dragging the Title Overlay bar (when you're in Timeline mode)
I hope this helped!
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Xbox Live Gamertag: DocSteel92
Rest in peace, Randy Pausch.
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