$118,000 In Student Loan Debt, Should I Declare Hardship?

$118,000 In Student Loan Debt, Should I Declare Hardship?
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[@mkay0502]

My favorite subject in school was history. I can study history all day long. Instead, I went to school for an engineering degree. Now, I go to work and have a job I enjoy, I make plenty of money, and I still learn history in my free time.

[@Theinsomniac826]

You are smart😊

[@damianmurphy-morris1941]

English has always been my best subject in school. I enjoy writing Instead I document my own thoughts in a journal as I go through trade school and make enough to move to another city to do what I love , woodworking and soccer ❕

[@gr8macaw1]

mkay0502 I love birdwatching but $150,000 undergrad in ornithology from Cornell won’t pay the rent

[@wowso4]

mkay0502 smart guy

[@XFizzlepop-Berrytwist]

mkay0502 But... you actually dont know anything about history. As far as the state is concerned you know nothing about history, because you dont have a 50k piece of paper that says you do. XD

[@dr.bassmab552]

Even his loan provider didn’t believe he will be able to pay it back 😐 🤔 wow 🤯

[@KMartha22]

Yes!! But why did they not see that from the beginning!!!!

[@hiteshadhikari]

*They always know they wont be able to pay*

[@cjzanders5430]

@@KMartha22 - Because they just saw dollar signs instead of rationale.

[@adambach1249]

I had Student loan of $50,000 cleared in 48hours thanks to 4Ficorepair .com

[@FirstNameLastName-hz4kv]

And the solution is to deny him a degree ... whats the logic behind that?

[@cashboy7406]

The bigger problem is most of these High Schools are creating a false image around College. So many of these young people don't know any better. They've been lied to. They have the impression that going to College and graduating with a degree is enough. They don't realize how crucial it is to get a degree in a field of study that can be used in the marketplace.

[@jerseynurse6878]

Cash Boy - truth. And they are not listening to any advice, they want to go to schools they can’t afford. They turn up their noses at community colleges.

[@joeregan63]

It’s not that kids don’t know certain degrees are not lucrative in themselves , it’s that schools and guidance counselors and everyone else whose paychecks revolve around you Choosing college undersell just how bad it can be. I’ve said it before but when you tell a kid that they’ll be paying $1k a month in student loans for 10 years and making $45k a year, their first reaction is that $33k is still a lot more than they’d stand to make now. And they’d enjoy their time. But kids don’t hear about opportunity cost. And they underrate just how expensive life can be. $45k isn’t much when you’re paying $13k a year in taxes and pre-tax deductions, $10k on rent and $12k on student loans.

[@paperremix]

Also too, or even alternative, you can get a good job with humanities and social science degrees but these people don't know how to sell themselves. That's the issue. And, like you said, they think everything is garunteed!!! It's not!!

[@jarissanz9349]

Just graduated from high school a year ago. You couldn't be more right. I won't let my younger siblings make that mistake

[@tsx0013]

Don't forget that parents need to do their parts too.

[@harrydiaz8122]

Moral of the story: don’t go to an expensive college if you can’t pay cash and don’t major in something bs

[@landontroyer5271]

Only go to them if you're going to be a doctor. But even then it's not needed. Better off going to a solid school that's 1/2 the price. Medical schools don't require a fancy college. Just good grades and MCAT.

[@silvereyedstacker1842]

Landon Troyer Honestly, the US college system is incredibly inefficient when it comes to medical school (and other degrees). There should be an option for incredibly talented high school students to take the MCAT and go straight to medical school like they do in China. A medical student in China graduates from med school in 5 years straight from high school. We typically take 8 here. A Bachelor’s degree is BS when it comes to the medical field. The miscellaneous unrelated courses that are required are wasteful, expensive, and don’t help at all. I am a history buff and learned much more outside of college reading books than I ever did from the few history courses I took in college. And this is why China will eventually leave the US in the dust.

[@NickPeitsch]

Lol true man

[@katrinaumana2127]

I got my Master's degree in Teaching. So my Student Loans been paid off I took out $14,882.

[@carojames6776]

Makes them feel superior.

[@andreyv1]

I wouldn't pay that for a computer science degree and people out here getting history degrees for $100k.... smh

[@JK20239]

👏👏👏👏👏

[@harrisonwintergreen1147]

Remember that Bernie and Warren want to bail out these people ... moral hazard, anyone?

[@edgehodl4832]

@@JK20239 bernie and Warren who?

[@notfunny5013]

Read a book or two to get that degree

[@MFlint-un2tq]

A fancy private college for a degree in history education. 🤦‍♂️

[@garyodriscoll7988]

M. Flint and all for what? To say you went to that college? For the few years that’s in it? When late 20’s / early 30’s come around, you aren’t gonna care, it will be all about the Benjamin’s then. I also find that parents are to blame, they couldn’t go to college so they make sure their children get to go to a fancy private college that They can’t really afford, hindering mortgage and retirement funding, but their giving their kids “a better life than they had”. Dunno what that’s all about. I can’t understand it. Good luck to my kids if they come to me asking to pay for a college course that doesn’t blatantly pay well or has potential/good career prospects.

[@jason_v12345]

The cost is objectionable but not the combination of "fancy private college" and "degree in history education." Anyone who actually attended a top-tier school and who actually worked hard and performed well at such a school knows the value of their education far transcends the particular subject matter of their degree. I'll include myself among that group.

[@brnt034]

@@jason_v12345 Wrong. Did you listen to Dave? A history degree has ZERO relevance in the marketplace. You literally go to school to learn nothing.

[@trebmaster]

"My friend got a degree in Egyptology, but can’t get a job. So he’s paying more money to get a Phd so he can work teaching other people Egyptology. In his case, college is literally a pyramid scheme."

[@garyodriscoll7988]

Jason Roos poor Jason, perhaps you need some more schooling on this matter. Head up champ.

[@ariefraiser140]

Hold up....did he say they refused to give him his certification because they THOUGHT he wasn't going to be able to pay back his loans??? I don't care how overprice my degree is but if I've paid for it whether with cash or loans and fulfilled the education requirements you're going to give me my degree. That's crazy.

[@Nonameagain80]

No its the finance department said they dont think his chosen degree would be able to pay back the amount of loan he already had, so they did not offer any additional loans which he needed in order to complete the semesters. Seems like there might be more to the story though, or a really crooked loan officer.

[@roxcyn]

Arie - he got his history degree. But not teaching certificate as he didn't fully complete the requirements.

[@calpolyca]

@@Nonameagain80 I agree w/ you - there's something more to this. I have a feeling this guy might have been spending the money on extras (new car & other new things) and didn't spend it all on school.

[@Wakester115]

There’s gotta be more to the story

[@crazeekids9744]

@@Nonameagain80 and they waited all the way to the very end of his degree to come to this realization?

[@powergi3996]

When the student loan department thinks you have too much debt accumulated and they think you won't be able to repay them with the degree you are studying in, you know you done goofed.

[@GamerNRetro]

So the college let you go through the program... then at the very end be like hey you cant afford to pay us back with that job. We are going to make sure you don't get that job and we are still going to charge you. This is why academia needs to crumble.

[@Ant0417]

He chose to go to an expensive, fancy school and get a stupid degree and finance the whole thing. It’s not the school’s fault for “letting him go through the program”. Excuse, excuse, excuse, blame, blame, blame. I guess personal responsibility isn’t a thing anymore.

[@ian-hm6cx]

JJ Anthony i have a feeling that OP is also in a bunch of debt for a useless degree or a not high enough paying job and is blaming it on everything but themselves

[@pri.sci.lla.]

You're blaming academia? There's nothing wrong with academia, what's wrong is predatory loans being offered like lollipops to uneducated people(financial literacy isn't taught). I am lucky enough to have a full ride, but most of my friends have loans.

[@DemetriT1]

That's a disrespectful scam.

[@user-wg8qu9ok5k]

It wasn't the college that dropped him, it was the loan company.

[@IAMJOHN4EVER]

As a college graduate who majored in history, I started at a community college and earned a free associate's degree. I started my college courses for a low cost in high school then went full time at a community college. Next, I transferred to a commuter school and graduated with only $10,800 in total student loans. You can major in history, just make sure you have a plan/job going.

[@mfstarr1]

Exactly! No private colleges!

[@ashafreeman2730]

Then why do you watch these videos? Curious

[@dappyfull]

@@ashafreeman2730 You got beef??

[@Uhhlaneuh]

I don’t understand why they would even let him take out that much in student loans knowing he couldn’t pay it back

[@dogguy8603]

Because it is probably a federally backed student loan

[@sami-9233]

It's not only student loan institutions that do this look at the subprime auto loans they accept clients with no documented income on multi-year loans to pay back

[@michelarosier1918]

It's all about business. This is how the world push students loans in anybody, adults, young students as well, you have to be smart not to get into student loans, try to apply for Federal Pell Grants it's free money but you have a set of time to finish get the degree. Or come up with a plan and to pay out of your pocket for those courses to avoid the loans.

[@joeregan63]

“thanks for the money. It’s yours or the taxpayer’s problem now”

[@mmp495]

Its disgusting that The banks are allowed to do this. Ultimately its the borrowers responsibility but still!! 😫

[@ProjeckDestiny]

$120k for a history degree wow. You chose to go to a fancy out of state private school. PAY IT BACK.

[@oldtwinsna8347]

Agreed. Time to spend many miserable days and nights working off that debt. After your day job, drive Uber for 8 hours, then following that, take a graveyard shift job somewhere, get 3 hours of sleep and do it all for the next decade. No excuses, you created this mess. If you don't do all this, nobody wants to hear about it. Do your time, just like a drug dealer getting caught goes behind bars, you do the same in the financial world. At least though, a drug dealer was smart enough to avoid getting into that debt hole and will be out in 5 years.

[@radioactivedynamite]

@@oldtwinsna8347 that's the greatest roast of all time lol.

[@johnm3435]

Student loans.. what a trap. After 5 years, $40k debt, and no degree I finally realized it and got out of that trap. Unless you're going for a specific specialty/field then there’s no point. Get into the workforce, work hard, work smart, continue self improvement/education, be consistent, and amazing things will happen for you.

[@tyrese6994]

Do you think accounting degree is worth it?

[@onemogain23]

What do you do now and how much did you pay off of your debt?

[@johnm3435]

onemogain23 I paid off all my debt. Student loans & CC in around 2.5 years ($50-55k total). At the time, I Got a job making $48-52k doing uniform delivery/acct management. Lived way below my means & on half my income and just saved everything I could in order to pay off the debt. That was at 23-25 years old. Now I’m 29 and work as an independent insurance adjuster past 3 years, traveling the US majority of the year with my wife, live full time in a nice RV, and we both make around $110-120k/year doing this line of work. We handle large loss and catastrophe insurance claims mainly. We also purchased 4 beach vacation rental properties this past year bc we still have been living on about 1/4 of our income and saved the cash up to invest it. Will continue living like this for another 5+ years. So now we also make around $70k profit/year from the two duplexes we own. Saving for the next 2 years to buy a large RV Park/ campground is the next goal.

[@tyrese6994]

onemogain23 I’m in undergrate just wanted to know u guys perspective on the major

[@johnm3435]

Tyrese C. To be honest yes I think CPA falls under the category of worth while/needed degree. But IMO it still doesn't make sense for an extreme amount of debt bc that isn't an instant high paying job most of the time - takes years to reach six figures normally if I'm not mistaken. If youre going $100k+ in debt for student loans and then live like most Americans with credit card and vehicle debt then idk if it'll be worth it. No one understands your financial situation like you do though so it's hard to give an actual answer. If you can have it paid off in 1-2 years or take an extra 1-2 years longer to cash flow the degree then I don't think it's a bad choice (others may disagree). From my understanding you can average $60-110k as a CPA. That's good money. Just have a plan and make sure it's not something that will hold you back financially for long. Just take a day and run the numbers. As a CPA student you can figure that out no problem.

[@QiScience]

Never do deferment on federal student loans because the interest will capitalize when it re-enters repayment, which will increase the principle amount... so you’ll end up much further in debt

[@ronwhiteleo3352]

Hey man create a class call DEBT HISTORY and teach it...

[@catherinedefreitas5715]

Had no idea you could just get dropped from financial aid like this dude. Man that sucks.

[@retiredmanager510]

“WILL: You dropped a hundred and fifty grand on a f**in' education you coulda got for a dollar fifty in late charges at the public library.” Will - Good Will Hunting

[@postholedigger8726]

I spent years in birck and morter schools. The absolute best education by far is offered on KZbin at virtually no cost. You no longer have to pay for an "education", what you are paying for is a credential. SEAN

[@timothysherrange]

He will never make as much tutoring compared to working his side part-time job simply because he'll work so many fewer hours tutoring. And it's unpredictable. Never mind the fact that history tutors are not in demand. It's all science and math.

[@RichAction]

Im sorry i just don't understand how people see that their acquiring that much in student debt and think its ok. CRAZY!!!

[@iBeautyiStyle]

I literally dropped out of college because I was already 13k in student loan debt. I couldnt do it anymore. I got scared and that was the end. Came to this country to get a good education...GETTING IN TOO MUCH DEBT FOR IT, SCARED ME.

[@DracoReptoidsExposed]

@@iBeautyiStyle You should have gone to Mexico or Canada.

[@mphomolapo1562]

@@DracoReptoidsExposed We considered that too, but *the US has more options for degrees, colleges and is mostly well respected/transferable* to South Africa. So it just made sense in the end 🤷🏽‍♀

[@RichAction]

@@iBeautyiStyle alot of my friends including myself did the same thing. they dropped out and went to city colleges that were significantly less. We all have 100k salaries or close to it now. My next video will be on that check it 💪👍

[@RichAction]

@@mphomolapo1562 i hear what your saying but you cant go into a 100k debt for a history degree lol. You can get a degree from a cheap city or state college. Get a entry level job to get that experience then go back to South Africa with some credentials and experience. That's what some of my nigerian friends did cause they wanted to live back home

[@frankiesmom8478]

13% interest? Really? Is that the federal student loan rate now? I thought 8% was highway robbery

[@cohenfromdiscord2551]

Frankie’s Mom watch the video of the guy with a million in debt his interest is 7% for some reason ... sh*t is crazy

[@PInk77W1]

That’s why you don’t sign the Loan agreement

[@MrBrewman95]

For grad plus, yes they can go that high.

[@Theinsomniac826]

My unmarried friend has a master's in history, best job she could find was high skl history teacher, "couldn't handle" the teens because she said kids are cruel and now she works in the Macy's shoe dept! 🥴 Just like this caller who works in a retail store. Moral of the story: history = retail. Also I'm not shocked Dave recommends he go teach high skl history to teenagers. 😯🥴

[@ariefraiser140]

My father is a history professor. People used to think he made so much money because he was a professor but I remember graduating college with a degree in information systems. When I told him what my starting salary was he real happy and said now that you make more than me you can stop asking me for money my job is done. I was shocked. Because he had been a professor for over 20 years. Granted where I grew up and he lived was the low cost of living south and my first job was in a high cost of living city...still surprised though.

[@Theinsomniac826]

@@ariefraiser140 Your father is hilarious! 😂 A very cool guy. 👌

[@khaliidscott6998]

So true. One of my old managers got a degree in art history. Some how ended up the store manager selling sun glasses 🤔

[@Theinsomniac826]

@@khaliidscott6998 Wow 😯😂

[@realazduffman]

Am I the only one who is tired of these people who go to a fancy private school then try to refuse to repay their loans?

[@theresamartinez1382]

I’m 22 and I’m glad I found you !! Going to be rich one day 😊

[@AZ_TONY]

Nos casamos?

[@dannyk847]

Most history teachers do it cus they like history...if u like history, go to the library or online

[@alecrides898]

The problem is that high school students, don't need any help with history.

[@matchasketch8224]

Alec Wade I suppose he could teach AP history? I tried it out a couple of times in HS but I realized it was a waste of my money, so I ended up just buying a textbook and self-studying for the exam myself as a our school didn’t have any AP courses. But anyway, the tutor that I had actually can find many students who need help with AP english or AP european/world history, and he usually earned about $60 per each hour he taught (and he was a political science and history major; he also did a startup on the side)

[@OPP534]

Exactly. I feel that Dave is out of touch with the whole tutoring thing. Maybe if he would have studied something useful like Math or a foreign language then that would serve him.

[@dappyfull]

"I have a degree in underwater basket weaving" Dave: "You could probably make $25/hr tutoring kids online" Me: 🙄 🤦🏿‍♂️

[@Ryan_DeWitt]

Nothing to see here, just another worthless degree.

[@1redrubberball]

The question is why do so many not have some innate inner sense that a bunch of these degrees are worthless?

[@GamerNRetro]

@@1redrubberball Because our boomer parents and teachers sold us on the lie that a college degree will "open up so many doors".

[@1redrubberball]

@@GamerNRetro I guess I had an advantage in some respects, as a "boomer" growing up in a time when the average "boomer" didn't have the resources to attend college, nor was it believed to be a birthright. I remember when the push to college began to gather steam. I was a skeptical kid who knew at the age of 9 what I was going to do in life and I did it. I followed my own mind. It's totally alien to my thinking that so many folks go out to meet life with no clue!

[@KevinJPineau]

College is a terrible investment. Investing into your business experience is better. At least you’ll learn something useful

[@KevinJPineau]

INFJ Mindset hey good luck with the channel! Have you got a plan for Monetizing?

[@oneeyedman99]

I wonder if the degree helped him get the job he has now; after all, he does make a lot more money than his wife. A history degree isn't the most marketable but it can sometimes give you a bit of a leg up even if the job you get isn't exactly a "history" job.

[@oldtwinsna8347]

Point here is that you can get the same degree at a local accredited public college for a fraction of the amount.

[@joeregan63]

oldtwins na also, even if holding the degree did get him the job, it may be good for an extra $10k, maybe $15k a year? And a good chunk of the extra goes down the tax hole, while the student loans are paid post tax. Plus the opportunity cost of going could’ve been huge, like $100k+ of lost wages or more. So we’re talking a quarter of a million in opportunity cost. For perspective, say someone just gave you $250,000 when you were 22 in exchange for skipping college, and you worked a job that only covered expenses for the rest of your life. The $250k is owed back at 4% interest, but the money makes 8% annually in its investments. Cash out after 45 years, the $250k has grown to $7.98m while the loan is $1.46m. Total profit of $6.52m. Adjust with 2.5% inflation, that’s $2.146m. So that guy is a millionaire. Will this guy be a millionaire? Probably not. By the time he’s finished this loan off and can start building wealth, it’ll be too late for compound interest to do much more than build up a mediocre retirement at best.

[@radioactivedynamite]

@@joeregan63 peope always say you can make a certain % of money when investing, however what sort investment is there that is guaranteed to give you that much all the time without any risk?

[@mikehurt3290]

Yeah some places like FedEx hire you for just having a college degree no matter what it is still dumb paying that much for it

[@Angelo-uo2gj]

Toxic comment section. I feel for this guy, good luck man.

[@adamguymon7096]

Why would they even give a loan out for a degree that they very well know will not pay enough back to where the loan can be paid off in the first place? That seams like the university is just Greedy. They shouldn't even be allowed to do that in the first place.

[@pri.sci.lla.]

This is why it's important to get a degree that you can actually get a job with. I can't really feel bad for this guy.

[@pep590]

I think he thought he would be a History high school teacher, but still borrowed way to much.

[@ukrd94]

This is why I don't feel bad about myself anymore when I drive next to someone with a brand new car in my 04 Toyota or stand next to someone wearing fancy clothes wearing my Walmart clothes. You never know who owes what or what they really have. One day, I will have a brand new car and fancy clothes with no debt. 3 more years and my degree will be done completely finance by me!

[@Je.rone_]

*All my student loans are 4.7% interest or less... 13% would Give me worse nightmares than i already have 👻*

[@JK20239]

aren't federal loans 6.5%-8.5%? 4.7 is a lot lower than I thought

[@Je.rone_]

@@JK20239 most are, i must've gotten lucky

[@jebiusenvy]

@@JK20239 if you got a student loan back in 2000s they were like 2-3%. Now they're like 6.5+.

[@masterp443]

My loan is 4.2% with only 2,000 left, community college. Idk where tf people are getting 13% loans but that's as bad as or worse than some credit cards

[@lamingtongirl123]

Daved Thompson you can get a loan to go to community college?

[@TheTurdballs420]

Another person with a liberal arts degree that will never make enough to pay off their debt. These calls almost never involve STEM(unless it’s a click bait about a DR)or trade schools. I’m shocked

[@MikeyFFA500]

Looks like he didn't study the history of student loans very much...

[@bluedevils81]

I hate it when Dave is dismissive like this sometimes. He didn’t really help him. All of us us can do simple math. He needs to make these segments a little linger with fewer ads so people can really talk this stuff out.

[@1redrubberball]

Apparently there are many in these comments in Dave's videos who don't understand the elementary concepts that outgo cannot exceed income, and how to prioritize spending and debt repayment and therefore require of Dave that he provide them with specific and detailed instructions. So much for the products of modern higher education! Nearly complete total helplessness! Since the crowd that go to college are well over-represented in the video(s) comments, I can only conclude that the far greater numbers who earn more average incomes, are generally more able to manage their spending.

[@mkay0502]

Dave’s in the business of hosting a radio show - a fast paced show that is entertaining and informative. He’s not a therapist - and frankly that would be boring for the viewers.

[@bluedevils81]

Right it would be boring for the viewers but a lot of these people are just starting to learn this stuff and him being dismissive may turn them off to the whole thing.

[@blackworldtraveler3711]

mkay0502 He's not a licensed financial planner or CPA either and need to be careful with the advice he gives.

[@indiaxlovee]

Andrew Ackley if they’re turned off by someone helping them then they probably have a loser attitude already

[@PoliSciGuy]

The thing about Dave’s advice is it makes logical sense, but even if you try your hardest you can be in the same spot. He said, “increase your wife’s income”. Wouldn’t everyone do that if it possible???

[@jason_v12345]

Many people in these comments without liberal arts educations and without much respect for such degrees. That's a shame. The benefit of an advanced, formal education is not just in how big a paycheck it earns. I'd argue that's not even the primary benefit--although the correlation to well-paying but seemingly unrelated jobs is much higher than one might think. Granted, I would never recommend anyone borrow $100K to acquire such a privilege, but if you can somehow afford it (scholarships, grants, a rich uncle), your attendance would certainly not be, as so many in the comments seem to suggest, "a waste of time."

[@ChinaConsultingTravelBlog]

I doubled majored in history and English. Paid for everything as i went. No loans. I now teach overseas and make over $100k. Never got a teaching certificate.

[@meggrotte4760]

That's what i've been doing the last twenty years Best way to pay off a debt. I love living overseas

[@meggrotte4760]

What country do you live in

[@GUTOMOFFICIAL]

"Fancy private colleges" Dave:... *blink* *blink*

[@pri.sci.lla.]

This is why I am glad I got a full scholarship to school. I'll be graduating debt free and with $10 k invested.

[@AZ_TONY]

Marry me please

[@frankiesmom8478]

Start that snowball by getting rid of the car...

[@silasdietrich7464]

I know a guy going to Yale, currently getting his history degree, the difference is it's an ivy league school and his parents are well connected. So, he'll get a decent job. Otherwise yeah...no history people (or music...or liberal arts...) or art majors. lol

[@botticelli728]

Also, if you can read, spell, and punctuate, you might want to contact some university presses that publish a lot of history and see if you can get work freelance editing. The pay varies from press to press, but can be between 20 and 25 bucks an hour.

[@AnnMitt]

$118K loan plus interest.... for a history degree. 😩🔨

[@delicatessen5670]

"Sell your cars, eat nothing but rice, get 3 jobs." Then accuse the guy of not doing enough. *Poof* I'm Dave!!

[@JK20239]

Sell your cars? How is he suppose to go to work? Eat nothing but rice? He will be malnourished...lol

[@delicatessen5670]

@@JK20239 He can ride a bike and take the bus. Maybe he can splurge on beans a couple days a week.

[@JK20239]

ride a bike and take the bus to mcdonalds. its not always pick up and move. picking up and moving would mean higher rent.

[@MrTmenzo]

@@JK20239 heelys

[@Mag1c4lyfe]

You forgot the beans to go with that rice.

[@Rob10288]

History degree? Enjoy every bit of that that debt buddy!

[@TheLordBeast]

He made a bad mistake but let's not kick a man when hes down.

[@onemogain23]

TheLordBeast that’s all they do in the comments, I swear people love seeing others fail, it’s sad.

[@dogguy8603]

@@TheLordBeast also its not like a history degree is worthless, it is a niche but not worthless, and becomes more valuable if you go to graduate school

[@ryder9542]

I have a History degree but I work in Information Technology. There are other options with this degree.

[@preezypatel]

Agreed

[@einstein1102]

wow... this is hard to hear. Keep at it, Rob. Have a plan and stick to it. It's not gonna be easy but you can do it

[@Sikorskypower]

Jeeze this guy is a clown, freshman year of high school my dad was like “get a wrestling scholarship or do a trade because we aren’t paying for college” Kids these days, you are ruining your lives

[@ak47ava]

My dude, it might be parents fault for pushing their kids into college.

[@francoisdemers-telmosse2404]

@@ak47ava whatever happens to you is your fault

[@chopper8582]

Yeah, that’s true but impressionable kids generally listen to what their parents have to say. Your parents took out loans, went to school and came out making enough to pay them off. They tell their kids to do the same not realizing how much more expensive school has become.

[@francoisdemers-telmosse2404]

@@chopper8582in the case you are talking about, the parents are engineers lawyers or doctors.

[@n.b.a1529]

I’m a union electrician making 120k with my house 70 percent paid off at age 30

[@silasbishop3055]

The Federal Government should be doing that before they give the loan. There is no reason the government should have given him the loan to go to that school for that degree.

[@jeanlenor1858]

What a bunch of crooks... They cut him off because they think he wasn't going to be able to pay the loan back with that degree? Why didn't they tell him that in the first place? Why after 118k loan?

[@MrBrewman95]

I’ve learned more about history on KZbin than I ever learned in school. And it was free!!!

[@annak7598]

In Australia we have student loans but they are capped at 90k AUD which is about 60k USD. So the maximum student debt you can have would be that. If you want to spend more money you would have to finance it upfront yourself. There is also pretty much zero interest on the debt and dont have to start paying it back unless you are working and 2-5 percent comes out additionally to your tax. So it’s a much better system I think.

[@jjuniper274]

Also, community education programs? That may be an option. Teaching ESL? Night school?

[@jorgeluna6773]

Many people are upset about being in debt but not willing to be committed to get off debt

[@digitalbrand5510]

My under water basket weaving degree is more marketable. His degree will save you the 12 seconds it takes to Google Wikipedia.

[@adonasbuhr2784]

Dave would have made one heck of a debt collector.

[@howtoandwhatsnew]

Wow, I have $101,000 in student loans total for undergrad and grad (BSN and MBA) but I also make $150,000 a year and I’m considered part time. The number is scary but I have a nice shovel to dig with. Especially when I start working more hours. I wish I would have gone to a much cheap college for my undergrad. I tell every young person now, apply for scholarships and go to a cheap accredited college.

[@pep590]

Good for you with your BSN! Great Job!

[@iomis2001]

Id never marry someone with that much debt. His wife is crazy.

[@blackworldtraveler3711]

kolop1 I prefer not to marry at all. Zero consumer debt always. Only 9 year mortgage.

[@VC-Toronto]

He's been married 6 years. The debt likely does not predate the marriage.

[@MYTMIC]

He makes more working in manufacturing than he would teaching

[@brookroberson6084]

Great question so is a lot of other people!

[@bluesky5384]

These loan amounts make me happy that I went into education. Low debt to pay off, still able to live on my own and save. Crazy that someone in education can have loan amounts so high.

[@jacobmoore7381]

Go into sales.

[@jeremyraber4057]

The Dave Ramsey Show@ How much money should I put in my emergency fund each and every month?

[@saumilshah6926]

He can do so much. Be a consultant, start a podcast, etc.

[@InvestingEducation]

U can overcome this

[@cita_m]

I got a student t loan at 18. I wish I hadn't, but everyone had a student loan and I assumed it was the only way to go to college. Paid it off 18 months after graduating and haven't had debt ( other than a mortgage) since!

[@Awsomegirl909]

Hi Dave love your show how can I ask a question can do so by email I live in Australia Vince

[@quincg7546]

dave I'm on the road to be debt free! I'm driving for uber and about to start delivering pizzas! cya soon

[@ethanlculver]

Not quite true that there is nowhere for history degrees besides high school or college teaching. Most historians work for the federal government. Plenty of high-paying jobs with good benefits there. Just have to look into that.

[@jasonlarsen3515]

Dave should interview his parents. “Why did you fail your child?”

[@KMartha22]

Guys pleass make evey dollar app available in the UK!

[@ienobik4414]

They were like jeez we thought you were in finance.

[@davidbrewer7937]

$120K Jeez! You could have gone to trade school for several trades, got a licenses & set up your own company for this...

[@bradmitchell4936]

I really wonder about the guidance given to these young folks I didn’t go to college or university but learned a trade and made money putting me way ahead of most of the friends I went to school with You just have to look at the job market and are they hiring

[@PInk77W1]

I think deferment is a good idea “if” he Did actually pay off car and credit card Instead of taking it easy. Then he could Concentrate every dollar on his student loan disaster. Right now he has too many bills and it’s overwhelming

[@travisclifton1581]

I've really come to enjoy Dave's philosophy, and im currently on baby step #2, with only 2 car loans left, currently totaling $12,561.72. But I think him idea of "increase your household income" is a bit skewed. Its always easier said than done. I'd like to hear how they can get out of debt on thier current income. My next comment will be my debt free scream!!

[@hawabangura6875]

I just graduated and just found out today my overall loan is $100k I have a biochemistry degree and recently got hired as a temp for $13 an hour. It’s a entry level job and I’m hoping after a year of experience I can get a better paying job. Wish me good luck because i feel so defeated rn.

[@masterp443]

Good luck but how do you "just" realize how much your loan is? Shouldn't you have been looking at that every day, obsessing over it?

[@AaronHernandez-xv4qh]

13% ?! Wow.

[@boston6904]

This guy can do it. I owed 90,000 @ 21 YEAH. I’m 23 I’m at 45,000. Didn’t even get a freaking degree. I should be done by 26. If you put your mind too it. You can do anything. It’s just sacrifice for a little in order to get to the end & after that all your money if yours. He can do it & he has 2 incomes. We all make mistakes. It’s how you come out of them that matters. Judging me or any other person in debt is stupid. Support each other. That’s it. Never make the stupid mistakes we did 😂

[@ladykemma3]

Alternative certifcation is the way to becoming a teacher.

[@justheather4144]

Wow. I went to a fancy private college too, but only incurred a third of that debt...with a great degree. Geez. There is more to these college debt stories ppl aren't mentioning & it's all such a waste.

[@brianafranklin8164]

Why do y’all keep getting degrees in history?

[@Gabster1990]

Depends on what you want to do. The people I know who got degrees in history either were passionate about teaching, wanted to go into politics or became lawyers.

[@rodrigofernandez9055]

The ROI is in the right STEM degrees (Mechanical, Biomedical, Computer, Chemistry, Civil, Aeronautical, Electrical).

[@Glorynrhythm]

What about a Biology degree? I'm considering that

[@rodrigofernandez9055]

@@Glorynrhythm hello Glory, check the job openings for that degree in LinkedIn, Careerbuilder, Monster. Check the salary. Check the locations. Compare the cost of your degree with your starting salary and estimate how long it will take your job to pay back (ROI). A nurse can work anywhere in the US and make good money. Regards

[@Glorynrhythm]

@@rodrigofernandez9055 Thanks for the reply. I will check it out

[@jeremyraber4057]

Dave you should start a bank business

[@giselleyvette]

The fact that the loan company realized he couldn't pay his loans with the degree he is planning to get AFTER 3 years of being in it. Wow. Is this a new tactic they are using to stop the hemorrhaging of student loan debt?? If so, they should qualify loans based on the education plan BEFORE they approve the loan!

[@insideoutsideupsidedown2218]

I would sue and get a refund.the 8 thumbs down are private colleges admission managers....

[@carlton2361]

You can it.

[@thelogfather3587]

History education? Why would go to a private college for that

[@micheleD498]

It seriously blows my mind that folks will get a history degree... It might as well be Botony! Don't people research top paying jobs?? The medical field is 🔥

[@linglee5759]

BS degree. Should have done Math/Economics/Finance/Engineering/Dentistry/Medicine etc.....or infamous Tuba degree for the real big bucks

[@jodyclark7527]

Two people working is better than my mess. I would KILL to make $70,000 a year job. I work full time and sole support of my family earning $22,000 a year ($650 net after insurance etc). My student loan payment is $475 a month on income based repayment!! My husband is seriously ill and can't work. Plus I have my own serious health issues. that prevents me from working a second job

[@TheQueenPsChannel]

Pay cash for the certificate

[@teebone2157]

Wife needs fulltime work

[@SkyrisTKO]

Actually you can take a “history” degree work as a paralegal and get into law school. So it’s applicable in some sense.

[@edgehodl4832]

Law school is a scam

[@fsmoura]

sounds pretty hard to me

[@JK20239]

YOU CANT!!!!! hahahaha

[@sunset6010]

Couldn't he be a PRIVATE TUTOR ???

[@oldtwinsna8347]

For what, history? He can get, if lucky, 2 hours of paid work doing that. Tutoring is all about math, science, and foreign languages. Nobody cares about history since it's an "easy A" even for the dummies.

[@joepic85]

He makes more money now than he would if he was a history teacher

[@bryangomez1384]

Joe P exactly what I was thinking lol!

[@PassportBrosBusinessClass]

The biggest problem with student loans is that they are deferred. That means that you can go to school and take out loans but you don’t have to start paying them back until after you graduate. The problem is that when you start paying them back you realize just how much money you borrowed because not only do you have to pay principle but you have to pay interest. I am fortunate that I spent less than $20,000 in student loans and that I got a scholarship for my first masters. I paid for my second Masters out of pocket to the tune of $18,000 including tests and licensing fees. Student loans for the schools that cost more than $10,000 per semester and have dormitory fees that are almost just as much are going to be the end of America. They’ve already created an entire generation but can’t afford to buy new cars or homes.

[@blackworldtraveler3711]

Bigtruckseriesreview Motorsports I started paying my student loan back one month after I got the money.