Don't Want To Pay Off Your Student Loans?

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[@teetime4761]

I finished paying off my student loans 3 days ago and I feel so free. I’m so happy I went against the norm to get rid of it.

[@furiousrobinson]

How long did that take?

[@jordon1911]

I paid mine off two weeks ago as well. Feel so good and happy I’m done having to think about them ever again!

[@MomoHitsujiOwO]

LETS GOOOOOO 🎉🎉🎉

[@michaelbutler1458]

Congrats. I made my last payment about 2 months ago, it feels so amazing. Huge weight and burden gone. 33k in about 18 months

[@dialac1]

You’re smart

[@treasurethetime2463]

Student loans being the biggest asset of the government is insane. That tells the tale.

[@Leftists_are_Losers]

And people think that the govt will cancel those loans …. When has anybody ever voluntarily cut their income by 45% ?

[@DavidWilliams-vc2ms]

Well said! You're 100% correct.

[@chriswilson433]

It explains everything: why they make them, why they push them, and, certainly, why they will never forgive them.

[@richradtylr4]

You're literally slaves to the government. 😂

[@angel-ij4xv]

run from these people

[@mleelove]

Just paid off my student loans. Paid off 41k in a year! Feels amazing! 🎉🎉🎉

[@2muchReality7ven]

In a year? Hearing that makes me feel hopeful as Im around 45k, so Im ready to finally dive in. I technically dont have to start paying until end of next year because I went back to school during the pandemic for a master's but I want this darn near gone by that time. Congrats on your freedom from this debt as well as well.

[@ijnyamato643]

@@2muchReality7ven Be careful - she's saying 41k a year, that's about 3,400 a month and with interest probably 3500-600 depending. I don't know what job you have, but for her to have done that much money, she must be making upwards of 70-80k a year, maybe a 100 - which is *NOT* the norm. These are great stories of getting loans paid off, but I want to remind everyone to pay in their means. I make about 40-50k a year (Air Force) so that 3400 would be closet to 1300-1500 for me a month - all that I'd be able to give. Just be careful.

[@jacqueslee2592]

@@ijnyamato643 Remember, IRS takes nearly 40% from your income. Probably a side hustle or sold her car to pay it off.

[@ronniern6120]

Good work girl! I know thats such a good feeling!!

[@josephbanks9897]

Don't know if Dave him self or his human resources or what hired Jade, but damn man. This lady is the total package .

[@alinatamashevich3354]

Calm down, she is married

[@michaeltewes7833]

She's gone through hard times, she learned from experience

[@stewbugz5213]

I paid mine off when 0% interest kicked in! It took several months of sacrifice and living on beans and rice, but it was worth it! Keep preaching the truth! ❤🙏

[@carlaritchie331]

Congratulations! A great example for all the naysayers.

[@stewbugz5213]

@@carlaritchie331 Thanks! It feels good to be rid of it! I just hope people listen to Jade and Dr D on this one! ❤️🙏

[@katiejon17]

We did too! By 2019 we had about $45k remaining, and a household income of $52k/year gross. We paid them off in November 2021. When interest stopped, stimulus checks (🙄), and everything shut down... we did absolutely nothing but sent every spare cent to pay them off.

[@stewbugz5213]

@@katiejon17 you go! Congratulations! 🎉🎈🎊

[@vitiligogirl1037]

I did it as well!!! It can be done… Started with 71k in 2019 now it’s 2023.. I’m student loan debt free!! I never have to worry about student loans ever again.. congrats to me🎉🎉🎉

[@bossnutz]

Finished paying off my wife’s $200k loans in 2 years and she cried once she found out I paid them off. It was her anniversary gift from me! Plus she’s 7 months pregnant with our second daughter!

[@deltapromasterlauj4848]

she better give you what u want any time u want for the rest of your life then if you know wat i mean……..to put in perspective them bossnutz of urs better b empty out everyday 😁😁😁😁😁

[@evanreiter747]

In 2 years ? How ?? I owe 100k?

[@michaelb.8953]

Your wife better work her a$$ off making herself look forever 25 years old.

[@laserbeam-fx9qv]

I truly hope your wife genuinely understands and appreciates the amazing gift that you have given her in paying off her $200K student loan debt. Sadly I doubt she will credit you for very long.

[@kbthegoat824]

@@evanreiter747 easy when you make a lot of money

[@CYCO1631]

When my wife and I got married, student loans were the first thing we cleared from our balance sheet. So thankful to not be in this nightmare.

[@JackieOwl94]

Same thing happened with my husband and me. We paid off my debt within 2 years of graduating. Now it’s his turn to go to college with the help of the military.

[@Rashaadthegr8]

Why not pay for y'all own loans before dating? Was that really that hard to do.

[@texan903]

@@Rashaadthegr8 because it's easier to get help paying.

[@ignitionSoldier]

It's like talking to a brick wall to some of these people with loans. The pause from the past few years was the perfect opportunity to knock the balance down, but a lot of people who could have put a dent in it decided to put their faith in the wrong man: the President.

[@loriej9297]

That's one way of looking at it. I think what it really points to is that these folks feel no moral obligation to pay this debt and so they latched onto any opportunity to have a "legit" excuse not to pay their debt. Now they're screwed. But it wasn't the President who screwed them. They screwed themselves when they took on the debt.

[@katiejon17]

We had about $45k in student loan debt in 2019. Our gross household income was $52k/year. And by November of 2021, we had paid the remainder off. People are full of excuses, but if they were honest they would admit they just don’t want to stop spending their money on vacations, expensive vehicles, $1,300 iPhones with expensive plans, Starbucks, movie tickets, etc.

[@GigaChad_169]

Bad judgement all around...taking out loans for worthless degree subjects (the people with good degrees are paying their loans back comfortably), voting for our vegetable in chief, believing the Executive branch has the power of the purse strings when it doesn't, not holding Congress accountable when "your guys" controlled it to pass student loan "relief" when they had a credible shot. The amount of bad decisions being made to get to this point is epic.

[@Excalibur2]

I wouldn't pay them off when it was held at 0% interest, I'd save up and invest.

[@angel-ij4xv]

college is nothing but a business

[@richq1318]

I paid my student loans off in 2018 when I started this wonderful debt-free journey. I am so glad I did!

[@_2315_]

Nice! Since then have you accumulated anymore bad debt? Especially since Covid hit two years after your accomplishment.

[@Astro95Media]

Well done! I started attacking mine with a vengeance in December of that year and finished in March 2020. $50,173 paid off in 461 days.

[@kbanghart]

​@@Astro95MediaI paid mine off with a HELOC. Then my house got foreclosed, and I never paid the primary or heloc loans 🤷

[@francoisnguyen6623]

She left out one important thing about federal loans. You can’t bankrupt it either

[@ykook7000]

Of course you can't that's a given anyone who doesn't know that Is a fool

[@RusskiCommieBot]

The government can go bankrupt. Look at the price action in the bond market. Countries are not buying our debt and the interest rates are all over the place. Our treasury market could easily collapse in the next couple months and and it would be all over. Nobody is repaying anything. Not the government, not the student loan borrowers.

[@blackworldtraveler3711]

@@ykook7000 It’s not a given for many here.

[@robinpigeon2070]

@@ykook7000ohhhh you’d be amazed at who thinks they can bankrupt their way out of these loans.

[@NSGLiv]

You can thank George Bush jr for that he made sure of that back in 04

[@niaz_ahmed]

No wonder student loan debts are not discharged in bankruptcy

[@maxinef6654]

💯

[@tduck828]

Yep. Sadly a lot of people would do it going in and knowing they will take that path.

[@aolvaar8792]

?????? The explosion in student loans happened because they are not discharged in bankruptcy. ?1992

[@michaeltewes7833]

@@aolvaar8792 LMAO. It's because college tuition has gone up 3 faster than the rate of inflation and ppl put their books, housing, cars vacations etc on to their student loan. That's what was happening in the 80's

[@aolvaar8792]

@@michaeltewes7833 The explosion in the number of student loans given out.

[@grease58]

Realtor here- you default on your student loans? FORGET about renting (we do credit/financial wellness checks) and moreso- FORGET about buying. Underwriting takes one look at you defaulting on THAT loan, you won't get a mortgage. IF you do get one- the interest rate will be astronomically high, as you are looked at as high-risk.

[@AimeePoppinBabies]

Tried to explain that to one guy here lol😅 people forget that the government is in control of the banks/mortgage and credit. No person is giving you a rental with shitty credit and loan sharks after you unless they are dense! People can become homeless with this.

[@amireallythatgrumpy6508]

So what you're saying is you're a lazy bum who can't be bothered doing a proper background check? That alone says it takes you about three weeks to get urgent repairs done. Your properties must have extreme water damage and cockroach infestations.

[@GigaChad_169]

Exactly. I worked in Accounting/Finance for many years and FORGET obtaining any job that requires you to work with money, whether in a spreadsheet or physical paper cash. All my Accounting jobs required I pass a credit check as a condition of employment. This is also true for people in sensitive areas requiring a security clearance. The reason being is that financially distressed people are viewed as a theft or bribery risk to the organization.

[@sblijheid]

They live in their parents' basement anyway.

[@AimeePoppinBabies]

Likely. Dave says an eagle that doesn't fly is a chicken. 😅

[@ysoserious2408]

Paid off $36k AUD 6 years ago. Honestly I felt like I could do mine sooner but TRUST ME, it's so good to kill off a huge debt chunk like that and you can move on with your life.

[@kimtaro9575]

I paid off all my debt and loans after discovering Dave, and I'm so glad I don't have to worry about this

[@amyappenzeller3769]

I had a good friend of mine helped me with my budget years ago when I was healing from some life things. He was the first person I called to tell that I paid off my last debt. He walked me through a budget with his background of teaching Financial Peace University. I'm going through Financial Peace University right now to increase my knowledge and apply more wisdom to my life. I am so very grateful for the information that Dave Ramsey and his team give. I am so thankful that I no longer have that. It doesn't feel like it's a possible thing when you're in the middle of it but it really is possible to get out one bite at a time.

[@Mrsmetamorphosis2012]

We paid ours off 2020. Weight lifted off our backs. Thank you Jesus 🙌🏾

[@JakeStewart1343]

Jesus helped me cashflow my degrees 😎

[@Nonsense116]

Wow that is crazy, I'm so glad we just finished paying our car loan because our student loans are next in our sights! We are on track to have them knocked out in under 6 months. I'm so shocked that 50% of United States government assets are student loans. That's absolutely insane.

[@lisalister8002]

good for you! Keep up the good job!

[@MCab2000]

We paid off $21k of student loans during the COVID pause. It’s good to be done!

[@markjames1965]

Hello, folks! Since joining this channel, I've gained insightful info. I wish I knew this stuff when I paid off my student loan. Being part of this amazing investor community has transformed me. We're here not just for money but to support, grow, and cheer each other on toward our financial dreams. Cheers to that!

[@markjames1965]

I completely understand your sentiment. It's clear that Mrs. Bianca Faye Lindsey is more than just an expert in the market; she's helped you discover your identity as an investor. Your portfolio now reflects that, and you're not just trading, but building futures together. Here's to making more informed decisions and achieving shared successes!

[@RamiAyla]

I'm incredibly grateful to have found this community and Mrs. Bianca. Just like you, her guidance has helped me navigate the complexities of the market. I used to fear losses, but now I see them as opportunities to learn and grow. I've not only seen significant financial gains but also a boost in my confidence as an investor. I'm excited to continue learning and evolving.

[@TheRamseyShow.Pinned.]

How can I get to her? I'm in dire need of her services please.

[@JewelWorm]

It's great to hear about your success. Investing in stocks and cryptocurrencies has also been a game-changer for me. I wish you all the best on your journey, and I'm delighted to hear about your remarkable progress. God bless you. I started with $150k and made more than four times that in weeks

[@Yogesh47389]

In the midst of all these economic crises, now is the prime time to jump into the investment game. I've been following her incredible success in the trading world, and I'm definitely shooting her a message right now. Great show, Ramsey!

[@AdriannaIX]

Paid mine off in 2019 thanks to Dave and by the grace of God!🎉

[@AD59669]

That happened to my SIL. One day, she had no paycheck. And came crying to my husband for help. She went to a very expensive university and didn't finish her degree. Meanwhile, we went to community college. Sad situation.

[@jimmymcgill6778]

There's a limit of how much they can take. They cannot take the whole paycheck

[@jimroscovius]

Dumb planning on their part.

[@amireallythatgrumpy6508]

If she went to school in the US she cannot have gone to a university.

[@GigaChad_169]

@@amireallythatgrumpy6508 The USA most definitely does have Universities. One of the most well known university systems (of which I attended) is the University of California.

[@aolvaar8792]

@@amireallythatgrumpy6508 AGAIN, A University is a college that has degrees higher than Bachelor's.

[@austinsmith7774]

Halfway through mine! Prayers are appreciated! 🙏

[@lkj0822g]

There should be a study on the degree programs that carry the most debt. I think there would be some interesting "trends".

[@tdgdbs1]

Liberal arts. It's all based on logic vs. feeling.

[@propainaccessories]

Don't need more science to know women studies don't pay the same as electrical engineering. We need to stop sending people to college to debate. We should be specializing skills in the long term. The Japanese figure it out.

[@deltapromasterlauj4848]

@@propainaccessoriescompletely agree….explains y most or almost all of my trade skill buddies/friends/family make more money then my college graduates peeps

[@frankchen4229]

​@@tdgdbs1Math is a liberal art.

[@sweetsunshineplaytime]

I paid off my son’s student loans to pave the way for generational wealth. Best decision ever.

[@01man01truck]

Man, I've definitely made a lot of financial mistakes in my past but not going into student loan debt was certainly not one of them.

[@ronjr831]

Thanks for the video. 45% is incredible. Also liked: you can run but you can’t hide. Very true. I have dealt with the government a few times, and it was not fun at all. Never want to go there ever again.

[@keithbrenda8713]

Frightening! This shows why debt is no joke and the government is not your friend.

[@blackworldtraveler3711]

These borrowers don’t make good friends.

[@christinehopping]

Thank you, Jade. This is a wake up call to everyone who thinks debt is a good idea.

[@greglane3978]

Debt = slavery

[@aolvaar8792]

12 years ago I bought a house for $50K, now $500K I went into debt. If the $250K house across the street sells for $50K, go into debt and sell it tomorrow.

[@Hostyl176]

​@@musouibut if you paid all of them off, then you "could* save up for those. It would just take three years and you didn't want to wait. You can make the argument that you need a house now. You could even argue that you needed the car, now. But the other stuff, let's be honest, you used debt because you didn't want to wait, not that you couldn't save it.

[@Hostyl176]

@@musoui that is a refreshing display of self awareness. Kudos to you. As a tip, set up direct deposit/automatic transfer to stash it away in an account you don't regularly use. You'd be surprised how quickly you adapt to having a little less cash and how quickly the cash piles up. Cheers!

[@GigaChad_169]

A lot of the folks in the comment see nothing wrong with their mistake and think they're entitled to walk away from a contract and debt they signed. These people are nuts.

[@arnoldthebaker6427]

This is for anyone who has student loans: I know it's hard, and it feels like you will never pay it off, but if you set your mind to it, then you will.

[@OGtruthserum]

Not me, I'm not paying any of it back.

[@DDDD-of3hv]

This is for anyone who has student loans: Suck it up buttercup, put your big boy panties on and get to working to pay off your debt.....

[@gene_takavic57]

This segment should be shown on every news channel in America. I'm sure there are plenty saying the same thing, "They can't MAKE ME pay it!"

[@BlueDauntless]

Just like people shouting “I don’t pay my taxes and they can’t make me”. That’s not going to go over well for them.

[@gracecase998]

I had a friend get her paycheck garnished. You cannot file bankruptcy either on them.

[@jml9550]

Yep. But people still want to believe the government is gonna forgive their loan.

[@aolvaar8792]

the government can garnish up to 15% of your Social Security payments if you default on your federal student loans. And the minimum it can leave you is $750 per month. For context, if you get a Social Security payment of $1,500 per month, this means that the government can take up to $225 per month.

[@michaelb.8953]

@@aolvaar8792 Oddly enough plenty of seniors dragging a student loan with them into retirement as they have no business retiring at that point.

[@amireallythatgrumpy6508]

That will soon change.@@aolvaar8792

[@blackworldtraveler3711]

Yeah I know a few boomers getting their social security checks garnished. From what I see there’s enough taken out to cover your monthly utility bills which is pretty good dent in finances if social security is your main retirement income source.

[@scottsanders2474]

Why do some people think a student loan is any different than any other type of loan? The borrower signed a contract to pay $X for Y months/years to pay the loan in full. In return they received a college "education." In other words, a quid pro quo. Why should anyone believe he or she can decide not to live up to the terms of the contract and suffer no consequences? Don't want to pay the loan? Don't borrow the money.

[@carlaritchie331]

Exactly.... plus interest like any other loan.

[@ykook7000]

The age of entitlement which has basically been the last 20 years plus

[@propainaccessories]

Because most borrower's were under 18. This was the only loan I got under age that fell 100% on me. I paid off my loan, but I'm explaining how it happens.

[@moraleslauralucia]

She’s the one out of all of them that speaks sense to me! Thank you

[@lisalister8002]

When I worked at a bank I witnessed many bank accounts drained by IRS for failure to pay taxes... I'm sure this goes for delinquent student loans too.

[@jcherestal]

You worked at a bank and had no money

[@chadthomas587]

I paid mine off. I can go out to eat now with my debit card and not go into debt after. It is total freedom 🙌

[@cyoohoos]

Which is why they will NEVER forgive student loans

[@OGtruthserum]

Students can also boycott and not paid a cent. There is nothing these loan services can do but go bankrupt.

[@katiejon17]

I simply don’t care about the people who are trying to get out of repaying their student loans anymore. I don’t care. I live in the *poorest* community in my entire state. We are a family of four, with a stay at home parent, living off of a single household income of a public school teacher. We have a mortgage. And in 2021 we finally paid off our $113k in debt ($100k was our combined student loans, and $13k was credit card debt). It took us 6 and a half years, no EBT, no fuel assistance, etc. We literally *lived like no one else* and now we continue to live like that while we lay off our mortgage early. I have yet to see a single person who argues that they shouldn’t have to repay their debt, who isn’t constantly buying little luxuries. Screw them, that is their choice. I simply *do not care* about what happens to them financially - it sure as heck isn’t going to be *my* tax dollars bailing them out.

[@patpatmoomoo5524]

While I admire your amazing story, the only way our tax payer dollars won’t pay for the bailout of irresponsible parties is by voting for representatives who SAY they will do the right thing and hope they actually deliver… or not pay taxes which is not recommended 😅

[@katiejon17]

@@patpatmoomoo5524 and I don’t disagree with you. The revolutionary war started over a fraction of a percentage of taxes. There is one specific party that needs to be shut down and dismantled. They are anti-American now. Then the other parties can work it out and balance each other out.

[@ronhamm]

There is nothing complicated about this. If YOU signed on the dotted line, YOU are responsible to repay YOUR loan!

[@ykook7000]

Of course but pathetic entitlement means people blame everyone but themselves

[@kbanghart]

​@@ykook7000​I paid my student loans off with a HELOC. Then my house got foreclosed, and I never paid the primary or heloc loans 🤷

[@kerryp7014]

That's fine, but why are we helping other countries with billions of our dollars. It's ridiculous.

[@kbanghart]

@@kerryp7014 I like helping other countries. It's how we help stem migration into the US.

[@thepracticalblade9013]

Wage garnishment is brilliant. People are so surprised that the government can and will find them... interesting.

[@aolvaar8792]

the government can garnish up to 15% of your Social Security payments if you default on your federal student loans. And the minimum it can leave you is $750 per month. For context, if you get a Social Security payment of $1,500 per month, this means that the government can take up to $225 per month.

[@winterhavenfarmlife]

They will just quit their low paying jobs.

[@maxinef6654]

I didn’t know about the garnishment of SS payment 😮

[@amireallythatgrumpy6508]

That will soon change@@aolvaar8792

[@amireallythatgrumpy6508]

And the government will ensure they don't get ANY money.@@winterhavenfarmlife

[@PInk77W1]

The fact that they had 3y no interest And didn’t pay it off Golden opportunity lost.

[@dcookou]

Probably because they didn’t have the money

[@bennyjoey8444]

Oh please

[@GigaChad_169]

@@dcookou 🤨

[@benjaminchandler1846]

I payed off my student loans during the pause, I found a way a did it 71K in 3 years and bought a paid off a truck. IM DEBT FREE unbelievable

[@madmoustache3653]

Only one payment to go!

[@peraltaisrael2598]

How dare you be responsible??!!! You should be at default and blaming trump and conservatives and pn and on and on!!

[@toddgammons9400]

And it shouldn't go away. Don't ask me to pay for your education

[@brentbina8581]

I sincerely don't understand this. Taking out a loan is a contract in which you agree to pay back the establishment that granted you the loan personally. I personally had student loans and NEVER saw a COSIGNER that was the US taxpayer. I entered my loans in good faith and paid them off accordingly. My question is - Why are these " students " being placated by our administration to feel that someone else should be responsible for their choices and being able to be provided this knowledge experience for FREE. Its beyond anything I have been taught around responsibility and accountability. This will carry on into these " students " lives and be a continued detriment to how they view right and wrong. This demonstrates just how liberal our system is becoming and it terrifies me. There is NO accountability for anyone anymore.

[@dcookou]

You are failing to understand the underlying issue

[@bennyjoey8444]

What is the underlying issue?

[@Liam_Maddog]

The underlying issue is that we’re talking about entitled brats who don’t know the first thing about personal responsibility.@@bennyjoey8444

[@alinatamashevich3354]

@@bennyjoey8444 They are lazy and entitled brats

[@OGtruthserum]

So stupid.

[@texasskygirl7890]

I never took out loans. Scholarships helped tremendously and I worked full time and it took me 6 years to get my degree. I scrimped and worked hard and squeezed nickles out of my butt.

[@mohmoodog]

I paid off 130k of loans during the forbearance. I feel free

[@rhondapayne2195]

Whew! Sooooooo glad my student loans were paid yearrrrrrrsssss ago!

[@cassidy18908]

Sounds like my boss is screwed. 40k student loan debt and only paying the minimum for years

[@tylerhair9067]

So thankful I don’t have any student loans, and I am not allowing my child to take any out. Cash flow and scholarships all the way.

[@sherrywright2614]

I really appreciate you showing us this reality. I don't have student debt; however, this is very necessary to understand the cash flow of the country.

[@blizz8705]

They are serious about garnishing wages. I had a student loan years ago and I thought I paid it off. Months later my HR called me up front and they filed to garnish my wages and I only owed 10$. The HR lady thought it was amusing.

[@GigaChad_169]

Yup, in 4 years time a lot of folks will go from gloating in front of coworkers about believing the promise of student loan forgiveness by a pathological liar politician... to being embarrassed at work in front of coworkers as their employer has to comply with their wage garnishment order. You can't make this up...amazing turn of events

[@anabelled4459]

Damn they really wanted that $10

[@towel-ie7554]

The government plays a good game of acting incompetent but when it comes to the IRS and collecting they know their shit.

[@georgewagner7787]

There are different levels

[@lunallena5594]

I was told about the possibility of federal student loan forgiveness 10 years ago. It never happened, and I paid mine off 5 years ago.

[@tbaer4894]

I don't understand why Congress or our President don't take the Universities to task about their increase of tuition and/or even talk about it. This has been going on for years!

[@Flippinkickz]

Because they work together, thinking they’re not in bed together is silly.

[@ebonneenelson2325]

Because they get paid off the student loans too. They have stakes in the stock market too. Remember when Nancy Pelosi made all of that money when Obama passed the healthcare Act? It’s a similar thing.

[@lot2196]

I've been posting this same question.

[@cherylbrooks821]

The government has no business in the student loan business in the first place. I wish people would get a clue and not borrow so much money to go to school.

[@Primitive_Code]

I'm a college student currently attending an in state university and my tuition bill for last semester was $5,000 for 12 credits or full time. That's not a lot. People take out these loans for non-school related things like making up excuses for not working while going to school. A 4 year degree is very doable without taking out any loans. There are of course grants and scholarships too.

[@annjacobs8144]

This graph really tells the story that student loans won’t be forgiven.

[@RealziesCuts]

Thank God for free will and accountability 💫

[@amydoran9987]

I payed mine off 17 years ago. I’m glad and relieved I did.

[@jonahblack5942]

I’m with them on almost everything else but this. The smart thing would be to save up enough money to pay for the loan and just leave it there. Connect the monthly payments to that account. At this point it’s worth the gamble even with the interest that could be saved. The last thing you want to happen is for you to pay 30k and everyone and their grandson gets their student loans reduced. Just see what’s going to happen for a few years. If the wind ain’t blowing just pay it off

[@Liam_Maddog]

So what you’re saying is don’t bother to do the right thing. Talk about a scummy attitude!

[@jonahblack5942]

@@Liam_Maddog so you just threw reading comprehension out of the window. I wrote that one should SAVE enough money to pay it off. Place it in a banking account and have the monthly payments feed off of that. That isn’t complete inaction

[@organgrinder506]

That might have made sense when interest rates were set at 0%. What I did was use those 3 years to save and invest, and then used some of those savings and stocks to pay off my remaining student loan balance in full once it was clear that there would be no forgiveness for the forseeable future and interest picked back up. Yes, I would have LOVED to have $10,000 wiped off my loan balance, but I also didn't see the benefit to holding out, either. With my student loan paid off, my credit score is better, it's one less bill I have to worry about every month, and I'm free to put more money toward other things I want. This kind of freedom NOW is better imo than a slim possibility of debt forgiveness later.

[@Observer100-cn7gv]

Just work hard and pay it off. Pay what you owe or stop borrowing money. You signed to pay back. Stop expecting loan forgiveness.

[@bigteeist]

I paid my loan off years ago to much stress

[@patriotdrone9566]

People still won't pay. Then they will apply for government assistance for food and shelter. Spiral into hell.

[@buddykerr1]

Agreed. I'd be shocked if the number who will start paying is more than a couple percent.

[@May-qb3vx]

December 8th will be my big date. Last student loan payment!!

[@sbentsen2714]

I will say when it comes to student loans, stay in contact with them, stay current. Even if you cant pay much, let them know and they will work with you. Even deferment due to financial hardship. I ignored this a long time ago and they started garnishing my wages 😵 such a sh*tty feeling.

[@kjohnson281]

My student loans were forgiven because I qualified for PSLF. Thank you God. Because it can happen. I’ve worked for the government for over 10 years.

[@JordanKase]

My student loans were forgiven as well.

[@EverElia]

That graph is from Q1 of 2018. 🤔 I wonder if it has changed.

[@lot2196]

I'm sure it's much worse.

[@woodside4life]

Nearly 6 years? Nah it’s probably fine. 😂

[@GigaChad_169]

Yeah the financial situation of the US improved DRAMATICALLY since 2018...student loan debt also isn't a growing problem anymore...oh wait...😆

[@EverElia]

😆 Agreed

[@Beginningtopeak]

More and more pieces of the puzzle fall into place if you're patient. Is there anyone out there who's giving up a revenue stream that is 45% of their cash flow?

[@goodgirlvicki]

I have paid off some loans I have a couple more to go! My behind trying to return to the Motherland

[@Wilky2526]

People don't go to college to chase their dreams - They go to college because they're afraid to chase their dreams.

[@vanessatheurbantarotgoddes2192]

Well I have to go to college to be a nurse 😒

[@blackbutterfly233ify]

@@vanessatheurbantarotgoddes2192lol

[@amireallythatgrumpy6508]

Or because they don't have any dreams.

[@maryrenaud6732]

I knew about the student loans as an asset to government. Regardless of the debt forgiveness plan, anyone who signs a contract must read the fine print of the promissory note (loan document and terms & Conditions). Why do people think these should be forgiven just for the current group of debtors? People should have accelerated payments toward principal reduction during the last 3 years of no interest. $300 per month would have paid off $10,800 in 36 months. This is more than the ‘forgiveness’ proposed.

[@HungHui-g8h]

No one gets rid of their biggest asset.

[@georgewagner7787]

Of course they have your checking account number. You gave it to them on April 15th.

[@amireallythatgrumpy6508]

They have it direct from the bank regardless of your tax return

[@iguillo]

Glad I got mine forgiven through the PSLF program! 🙂

[@dcookou]

God bless you!

[@donatelloslappafello1108]

I owed the government a bunch of money once and they wiped out my accounts and garnished my pay. The government gets the money and they don't care if you miss rent because they clean out your accounts. They also took my tax returns for years. I wouldn't wish that on anybody it was horrible

[@lmurjohnson9684]

Wow send that chart to Joe !

[@GigaChad_169]

He couldn't read it, so why bother?

[@pep590]

You mean... Jim Crow Joe.

[@mossgeorge2001]

Thank you for explaining this, in a very simple to understand way.

[@RamossDeigo]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you lucy donna.

[@DerekSanfrod]

Despite the recent economic recession in the country, I am happy to have earned $60,300 return on my $5,000 investment every 21 days.

[@JamesWilliams-ql3yb]

Honestly, I have to say the Lucy. Jacob is just a God sent to many people. I also started investing with $2000 after seeing some good recommendations and testimonials about it. His

[@aaronanderson9038]

Hi, I'm new here and you guys are just giving a testimonial, but you're not talking! Please can I get a reference?

[@Jamesgjf]

​@@DerekSanfrodplease how do I contact Lucy Jacob? I am a widow and mother of three, we need financial support, thank you

[@RamossDeigo]

*@LUCYOWN*

[@c2s2942]

Never was taught good financial choices while growing up. 3 years ago, we had $65k in debt. By January we will only have 28k to go and we just got serious about it. One to two years from now, it’ll all be paid off. Keep pushing and debt can be gone.

[@chadlee307]

This doesn't make any sense. While the student loans may be the biggest financial asset, it is not what keeps the government going. Remember that the government collects about $5.03 TRILLION a year just in federal taxes. The government collects about $70B a year in student loan revenue when they were collecting. I agree people need to pay their student loans, but let's cool it with the fear mongering. They do NOT make up 45% of US Assets as stated at the end of the video.

[@jimmymcgill6778]

Yeah. This whole thing was full of mis-information.

[@ninerknight5351]

Idk what numbers are right but I do know that I’ve paid the federal government about a million dollars before turning 40. They are all crooks!

[@aolvaar8792]

@@jimmymcgill6778 I agree,

[@christie4336]

Ramsey show needs a follow up. The chart is not explained correctly. If you were to really look at the assets you would need to count real estate, buildings, equipment, military equipment etc etc. I think this chart is a sub-section of something larger. The US govt is not running on student loan payments. It is running on income from taxes and from borrowing. The govt is basically living on a credit card. Instead of a credit card, the debt is in the form of US govt backed bonds that are sold to investors and to other countries. China owns a lot of our debt.

[@Josh-ge1cr]

oh it's okay! i'm making money off paying minimum on my loans by throwing my entire loan amount into long term bonds, which are yielding 5% (my student loans are 3%). at least for me, the government isn't making money off me, so they can get my hard earned money as slow as possible while I enjoy that sweet, sweet interest

[@BronsonWally]

It appears that the graph is from 2018 ?

[@joem1950]

The data takes a few years to come out, but it's only going to be worse the more recent you get.

[@GigaChad_169]

Yeah...but let's put on our thinking caps and think about this for a second...Are we worse off NOW or were we worse off back in 2018? The answer to this question is all you need to know about how relevant that graph is. You don't need an updated graph to show things are screwed up WAY more TODAY than back in 2018.

[@Rashaadthegr8]

Feels phenomenal being on baby step 7. For all the people still in debt and trying their best to get out keep going its a trillion percent worth it. For those still not getting it, I pray you wake up before you create another generation of of generational poverty.

[@lilflip1820]

So student loan interest is another form of taxation...

[@greglane3978]

No, You did NOT have to take the loan. If you signed on the dotted line YOU own the money. Inflation is a form of taxation as printing money by the government to spend decreases the value of your dollar in the bank account thus indirect taxation.

[@carlaritchie331]

Yes another stupid tax for people who fall for the bait. All loans have interest payments either as a line item or built into the overall cost/fees. Other people profit from lending money, that is by design. Debt is dumb, pay what you owe as soon as possible.

[@lilflip1820]

@terrybusch5088 The fact that's its such a big part of the governments income sounds like a huge incentive. The cost of college is increasing faster than inflation. The government isn't paying their bills with your electric payment.

[@lilflip1820]

@greglane3978 The government is receiving a trillion dollars a year from student loans, not inflation. Sounds like an incentive. I don't have any student loans. But I agree with your statement on inflation.

[@raiden031]

7:15 the reason they can put it in your account is because you set it up when you filed taxes to receive your refund. If you create a new account they won't know about it. But thats not to say they wont still garnish your wages and collect their debts using any means they can.

[@eurekahope5310]

Much of this would be fixed if universities had to co-sign on loans. They wouldn't finance lackluster atudents, degrees with low salaries, or waste their money on departments and buildings. Suddenly they would work alongside students to make sure they were successful rather than promising a six-figure experience in advocacy and grievance studies. Standards would rise and degrees would actually mean more. But do any politicians have the guts ro propose this change? No doubt it will be called racist, sexist, and homophobic.

[@amireallythatgrumpy6508]

Another idiot that believes America has universities. It does not. America only has colleges. The standards of American education are not up to university standard

[@propainaccessories]

Nope. If they made parents take out the loan 100%. It's not my fault my parents didn't save any money for college.

[@bennyjoey8444]

That is a crazy idea.

[@lolwtnick4362]

it used to be that way. you took a loan out and paid what you wanted to the college. so they begged for it. now they take it all up front

[@dcookou]

Those aren’t assets. Those are bad debts that won’t be collected on after 20-25 years. The Government is already wiping clear its bad debts for people that have been paying for 20-25 years and make under an income threshold. Until you address the corrupt, greedy, immoral system of making profit off poor, middle class Americans by charging them outrageous tuition and doubling down on high interest then you’ll never address the problem. Taking advantage of people that desire to grow in wisdom and knowledge is unjust. If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him and you shall not exact interest from him. Exodus 22:25

[@joeriveracomedy]

Dr. John interrupted Jade to make sure she was safe.

[@cnh7262]

😂

[@instagramdude4784]

😂😂😂😂😂😂 ROFLMAO !!

[@BridgeStamford]

That hair bun is a work of art

[@krassimirpetrov7131]

She forgot to mention the only way out of federal student loans is paying it or death ! And in very limited circumstances serious disability

[@aolvaar8792]

the government can garnish up to 15% of your Social Security payments if you default on your federal student loans. And the minimum it can leave you is $750 per month. For context, if you get a Social Security payment of $1,500 per month, this means that the government can take up to $225 per month.

[@alinatamashevich3354]

Death and taxes, there we go.

[@lifesabeach746]

‘willy-nilly’ and ‘lollygag’ - my two favourite phrases!

[@smithrr6]

Do you wonder that maybe the strategy for the "student loan forbearance" the whole time was so that the government can compound some interest and basically turn people into extended debt slaves? The government will definitely collect way way more interest in the long run by borrowers letting the interest accrue in the short run.

[@christie4336]

Interest did not accrue during forbearance.

[@smithrr6]

@@christie4336 google searches were telling me that interest was accruing during forbearance.

[@jerrygutzke1413]

Paid mine off last week. Feels amazing.

[@Alexibawendi]

I began investing at the age of 40 primarily by leveraging my hard work and dedication. Now, at 45 years old, I recently achieved a milestone where my passive income exceeded $100,000 in a single month. This success reinforces the importance of following this valuable advice. Take action and make it happen

[@KaterinaEvan159]

I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.

[@Louisbrus498]

Quite impressive but How? I know it's possible, my colleague at work got her first investment return of 46k after two weeks she quit the job,I would appreciate if you show me how to go about it

[@Alexibawendi]

Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $489k in just the past two quarters. this experience has shed light on why experience traders are able to generate substantial return even in lesser -known market. It's safe to say that this bold decision has been one of the most impactful choices I have made recently.

[@stanleymaxon]

How can I be part of this project I earnestly hope to build a strong financial future l'm interested to take part, who's the person behind your success?

[@GarryBenson1]

please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@DoctorSmartyPants]

Also, foreget about applying for a federal government job if you are in default on your gov student loan. You wont be considered for employment.

[@jonathanwatanabe8246]

Look this sucks... but the schools literally sit you down, and tell you the terms before you sign those loans.... Is it really because you were just a bunch of kids who didn't know what they were signing up for... or just bunch jack ass know-it-alls like most kids are at 17 or 18 who were all like 'yeah, yeah, yeah... is that all I have to sign'? The news about the trap that are Student Loans broke back around 2009....14 years ago. If you went to college in the 2000's and in the early 2010's then you could be forgiven for saying you were blindsided by this... BUT now? Seriously? COME ON?

[@jimmymcgill6778]

And schools lie.

[@GigaChad_169]

The parents are to blame too. The parents at least should have known better than some goofy 17 or 18 year old. A lot of these folks (Baby Boomers and Gen X) haven't ran across a debt they didn't love. Its a sick culture in general, people living above their means and using debt to pretend they're somebody they aren't. Americans are a lot poorer than they want to own up to. Maybe once we recognize that and acknowledge that fact for what it is, we can get better compensation IN CASH, for our labor instead of accepting debt as a substitute.

[@stingr9137]

A attorney once told me the “fresh start” afforded by bankruptcy for every other type of debit is leaving the country and never returning for student loans. It is the only way out.

[@kclefthanded427]

Schools failed us with bogus degrees. Good thing I'm not in any of this mess to begin with debt free

[@xterra4hire]

I mean the schools didn’t people failed themselves by choosing worthless degrees

[@jml9550]

School did not fail you. You failed yourself by getting an art degree.

[@ykook7000]

Lol the blame game so pathetic it's an individuals decision you sign the loan it's your problem and responsibility

[@propainaccessories]

People failed themselves. I had a roommate studying Greek studies. She does taxes for a living.

[@Liam_Maddog]

WRONG. if your school doesn’t offer a valuable degree, FIND ANOTHER SCHOOL. Nobody held a gun to your head and forced you to enroll in the women’s studies program.

[@garhymes]

Wife and I just paid off the final $16K of our student loans last week.......Next stop baby step #6 🎉

[@djpuplex]

Cap the loans. Force the colleges and universities to lower prices. Their price spiral upward should have been stopped 20 years ago. The government wrote the blank check the industry just got greedy.

[@eurekahope5310]

Simply make universities co-sign on loans. Suddenly they won't finance lazy students and pointless degrees.

[@aolvaar8792]

Limit enrollment to +1400 SAT score

[@djpuplex]

@@aolvaar8792 Agreed I can't just show up to a bank and get a loan for a business without a convincing business plan or a mortgage if I don't have a job.

[@liquidsnake321]

I'm glad I live in a country where student loans are interest free and the government also pays for the first year up to $12,000.

[@dude462643]

Whenever you see a sentence that says "government pays" just replace it with "tax payer pays" and it makes it seem a whole lot less shiny

[@nicb8723]

@@dude462643exactly!!! People don’t understand that nothing is free and nothing the government does is free!

[@joycewright5386]

Lol. You mean your taxes pay.

[@blackworldtraveler3711]

Your taxes cover it. No different than in the U.S.. Where I live two years college degree is free to students under certain guidelines but comes from our property tax. There are also grants,scholarships,and whatnot. All about choices here.

[@betitos11]

The government did come earlier this year and forgave ours, all $170k dollars of it . Got a letter with a $0.00 balance from lender. Thanks Uncle Joe 😎

[@jloop_2008]

Wow. You guys sound all doom and gloom right here. You guys are constantly making fun of people and berating people who talk about these exact scenarios. What happened? 😅

[@alinatamashevich3354]

Dave has been yelling for 30 years about these issues. And yet people still get in this trap