OVER $1 MILLION IN STUDENT LOAN DEBT!

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[@iemjay]

He isn't even trying to get out of debt. I don't know what his after tax income is at $225,000 but he could easily live on 50,000 and still have up to $150,000 to apply to his loans or $12,500/ month but he chooses to live in an expensive house, with an expensive car and takes luxury vacations. I don't feel sorry for him at all.

[@introspective_One]

Matthew Fuchs Thank you!!!

[@Undecided0]

Matthew Fuchs You're forgetting about taxes.

[@aubreymartin1412]

He doesn’t feel bad about it either because he can have it forgiven.

[@linglingliz]

The article states that after taxes, he brings in $13,300/month or 156k/year. Even if he lived on 50k a year, he still WOULDNT be able to pay off the loan in ten years! No agreeing with his choices, just saying.

[@bartvanriel6767]

linglingliz but in 15 years he would living on 50k which still is average not empoverished

[@BengalTiger47]

This makes my $40k SL debt feel like pocket change. God help that man.

[@christianquinones9347]

I owe 19k..still 2 classes left then hopefully i'll get into pharmacy or stay broke as a medical technologist

[@christianbonilla2768]

And my student loan is 28,900$

[@percyastronautstatus.8780]

@@christianbonilla2768 I called them, pulled a few strings ,, they have forgiven you. Thank me later

[@jbarkley4938653]

I have $35 k in SL debt. I make $51,000/yr. Will be paid off in less than 3 yrs.

[@BengalTiger47]

Under $30k now :)

[@mamagoldielocks]

I don't understand how we (taxpayers) can guarantee student loans that aren't even used for tuition. I saw some friends, first hand, receive their student loan $ and immediately run out and go on shopping sprees and vacations. How is the "living expenses" portion of the federally insured student loan figured? Just a 19 year old saying how much they'd like to live on??

[@juliecain8067]

Mama Sara If student loans are to continue, they should put heavy restrictions. Like you should be working if you get the student loan. And your amount barrowed should be justified by your future career or job's projected income.

[@paulpsycho78]

They want you to borrow as much as possible at 7% interest on non dischargeable debt

[@jacqueline716]

The "living expenses" portion of federal loans is calculated by the school's financial aid office--determined by whether the student clicks "off-campus housing", "dormitory," or "living at home." Obviously, if a kid chooses "living at home," they'll get a much smaller offer than if they pick "living off campus." So a lot of students who live at home can still claim they're going to live on their own and get extra loans they don't need. Of course, there is a limit, but it's pretty high...

[@theAppleWizz]

and compounding daily

[@coldflu]

"protected income"? - Um...there is no such thing

[@karimbennett5651]

A Tesla? A home with a mountain view, with that kind of debt? Sheesh!

[@jacobthompson6265]

I’m a student at USC. But I am from a poor family and get free tuition.

[@maylammarie]

Yeah, making over 200k a year he could definitely pay that off, it would just take some scaling back. Lets say his wife gets a job too, and then they start living like they make the national average income of approx 50-55k a year. While it sounds like a lot of money, put it into perspective, him paying off a million dollars is like someone who makes 20k paying off 100k. When you put it into perspective, its definitely doable for him.

[@TheVeggiepizza]

Something that is wrong here is when he says that the typical student owes $37k whereas the article says $17k. The article is using the median number (this is the number you SHOULD use when saying this), Mr. Ramsey is using the average student loan debt. I found this from a quick google search for the average and then the median.

[@philg4678]

doesn't this show how the US dollar is based on Debt.

[@robbanks4356]

phil G That's how the economy grows by increasing all forms of debt. This guy made this political, just shows you he only wants people to be divided other understand the real problem.

[@blathetube1597]

The cost of education today is outrageous.

[@myrthe1203]

Taxes aren't paying his education - taxes are paying his nice house, Tesla, and vacations.. What I find most worrying about this, is that he doesn't appear to feel responsible for his debt

[@thmaginnis1]

Never borrowed a dime. I went to a state school and did without.These are freeloaders. You pay your debts or you don’t borrow.

[@riellekoy7196]

All those luxuaries no wonder they can't afford anything. They won't have anything to leave their kids after they lose that house!

[@gorgono1]

America: drinking after 21 years old Also America: here kids, take a 1 million loan

[@urano4810]

A small* loan of a million dollars

[@KennTollens]

Whoohoo, I can buy a million lotto tickets!

[@jedijess2175]

If my taxes are paying this mess can he fix my teeth for free? 🤔

[@michaelrincon559]

Jedijess 21 if you have Obama care

[@jordanreyesivan]

Not a bad idea, repay by working for the govmnt

[@shanenolan85]

😂🤣😂🤣

[@princessmoo4891]

You do know a good chunk of our taxes are going into politicians pockets but y'all have ZERO issues with that. A normal person is smart enough to to dupe the system and y'all whine and cry

[@emmabila3480]

i’ll break his for free whats his address?

[@AjaDang]

And I thought my student loans were bad....

[@Estiexo]

Aja Dang haha 😂😂😂 so happy you got yours under control! I'm so proud of you❤❤❤

[@the-chipette]

Aja!!!! Did you do Dave Ramsey’s program?

[@leslieclarkson2291]

😂😂😂😂😂😂

[@kirapoodle]

You're doing well on KZbin.

[@AjaDang]

currently working on it. On baby step 2

[@tamaralaird3389]

Dave, he won't be calling you. Dude is still going on vacations and live with beautiful views. Dude doesn't want to get out of debt.

[@ericaleighannbrawley]

He's just waiting for the 10 years. Ridiculous.

[@colt4559]

Absolutely agree with the statement above he does not want to get out of debt

[@louisedery1049]

He is not your usual student loan borrower. Dave said he is only 1 of 100. I am the usual person who is in my 60's still making student loan payments.

[@karenwhite4141]

He called in!!! Omg

[@johnnycatR58]

@@louisedery1049 how...

[@thehermi]

Went on Facebook and found him. He’s currently on a 3 month vacation rock climbing and snow boarding overseas. He brought a camera/video crew to record his experience. 🤦🏼‍♀️🤦🏼‍♀️🤯

[@offgridjack5779]

He's checking out other countries to HIDE OUT in and will leave the entitled wifey holding the bag in SLC!!

[@kidneycarecoaching3766]

Baxter Bunny you are kidding right??

[@rachelgee7894]

I think he's just not even worrying and waiting for it to die with him.

[@monkeynumbernine]

a$$hole. 😠

[@kellyh9572]

🙄

[@bdjoe3]

I guess at 18 you can't stick $5 in a slot machine but hey you can take on 100k in debt no problem! Makes zero sense.

[@emmabila3480]

exactly, if I have $0 and have $5,000 in debt I can probably get a student loan for $20,000

[@fleurelise997]

@bdjoe3 best synopsis of the situation! This is insanity times infinity

[@primisrichtofen3251]

You can also go overseas and fight wars that aren’t ours, but you can buy a drink !

[@talyahr3302]

Can't drink alcohol either but you can take out 100k in debt! 🥂

[@AD-eh7wh]

Married to a broke dentist....never heard that before good lord!

[@Vydio]

Hey, life isn't bad for this woman. Now if they committed themselves to actually pay this debt life might get a bit less glamorous.

[@phoomchuepram8971]

You can't drink alcohol drink until 21yo. But , you can get 100k in debt even tho you are 18yo. America at its finest , ladies and gentlemen.

[@Brian.Martin]

Lol

[@matthewbrady327]

I was scrolling thru the comments and saw your comment after he mentioned broke dentist lol good timing!

[@lorenzovonmatterhorn7402]

He said that but that guy was not living broke...

[@MegaShredder101]

My $0 in debt feels great hearing stories like this.

[@chuckhines459]

Congratulations

[@mismagius8375]

When you are European and don't even know what is students debt

[@pinkgal206]

Lol

[@Knaeben]

I used to say that too, then I was tricked. They are very sophisticated and hit you on necessities: transportation, housing, medical or education.

[@pinkgal206]

Exactly... I only have one credit card that’s $300

[@me_not_me]

"They'll loan money to a dog that's dead"🤣🤣😂💀

[@phaldaz]

LooooooL it's true thoooo

[@michaelpowers6632]

Halfway done paying off my student loans! $9,000 left and grinding at $1,200 a month and a salary of $37,000 👍

[@GabrielMartinez-sd8pc]

You got it brother!

[@urdadshusband781]

I'm at 29k on mine. Just finished off paying all my other debt, about 12k. Just student loans left

[@dmac2899]

Great job that’s some awesome discipline. It’s sad how many people have all of this debt and nothing but a piece of paper to show for it.

[@AbelleveMe]

In case no one's said this to you guys lately, I'm proud of you! You've done a great job and i wish you fulfilment in life

[@SneakyGenius]

I gave you your 100th like sir.

[@okthennone]

Paying off 70k student loan this next month. Debt free and 125k in savings!

[@cnpwatson]

@okthennone - how are you paying 70k SL Debt back? What tips can you share?

[@dang75790]

@@cnpwatson he sells drugs on the side!

[@gabrielle-d1b]

Are you bragging? What's the point of writing this? That's good for you but how does saying this help anyone else??

[@sinker0]

Seriously, why would he write that? What a bizarro flex when not even needed. 70k isn't even big time debt

[@bsolutions525]

you look early 30's. brah if i only had 125k at 30 i wouldnt be bragging...

[@TheCaraaraC]

A house, tesla, Mercedes & vacations?? I bet they needed all of that to “numb the burden”

[@aaronfisher7159]

I may only make 40k a year at the moment. But I have $0 in student loans and will never in my life get student loans

[@cheyennecramer5117]

Good for you!

[@edgehodl4832]

U are richer than mike maru

[@aaronfisher7159]

dustoff what’s your Interest rate though? How much free money are you going to give them over those 10 years?

[@deficator750]

As someone who paid off 60k ill never go back into debt

[@techmedia1360]

dustoff may i ask what career? was it easy finding work in cs the field?

[@AutoMotoCha9L]

Debt is modern slavery.

[@DisabilityExams]

Not quite - slavery wasn't a personal choice - debt is.

[@blackworldtraveler3711]

AutoMotoCha9L Doesn't take whips and chains. Just credit cards and a signature. Different types of pain but somehow the same.

[@MyLevel10Life]

yes!!

[@patandbrandi]

Nobody puts a gun to your head. Healthcare debt is the only thing that's not in your control.

[@kweezo5273]

JDave Foster agreed

[@TrentStrong]

One million in debt. "Hey honey, let's have two kids."

[@urano4810]

@Crystal Nelson well duh. Gonna need a brand new minivan for the kid's soccer team too.

[@user-yr3uj6go8i]

America in a nutshell.

[@zacharybohlman4069]

Yup.

[@randalllunt8854]

That's not a problem as family is priceless. House, vacations, and his mercedes are the problem.

[@TrentStrong]

@@randalllunt8854 Tell that to the medical, education and general childcare bills. There is no way you can spin it changes the fact that having kids when you're struggling financially is not the most ideal thing to do.

[@Rashaadthegr8]

I clicked faster than the speed of light. To pay that off you need to be an owner of an oil well. I feel excellent after watching this video.

[@Rashaadthegr8]

When GOD blessed me to be rich. I promise to never live above my means.

[@karolgarley]

Sophisticated Swanson YESSS... PREACH!!! ❤

[@Fifth.Amendment]

Sophisticated Swanson I same! I was feeling like a loser owing 56k. I don't feel so bad now.

[@jenniferoliveira2858]

Sophisticated Swanson Makes me feel better about my $6,000 credit card debt.

[@jasonatkins6111]

Can someone help me get into debt? This seems like lot of fun. Whats the opposite of Dave? Thats what I need.

[@tamaralaird3389]

"That means that Mike Meru, the orthodontist in the WSJ story, who earns more than $255,000 a year, owns a $400,000 house and drives a Tesla pays only $1,589.97 a month on his student loans. " he is not trying to get out of debt. This is from the wall street journal

[@andrealister3970]

He's spending around 1% of his income on the student loans -and it's only paying down interest. RIDICULOUS!!! He absolutely doesn't care about getting out of debt.

[@ntbcool]

@@andrealister3970 To be fair its paying like 9 percent of his income to taxes. its 1589 a month, and his take home pay is like 170k, not trying to defend him just being realistic.

[@ntbcool]

11 percent*

[@princesslamour1985]

SERIOUSLY?!?!?!?!??!!??

[@JK20239]

so banks gave him a 400k note to buy a home?

[@EMC_Winterz]

My teacher knows this guy personally. After she found out Dave Ramsey had found out about him (she teaches a course based off of Dave Ramsey) she tried to reach out to him. He wouldn’t answer. They went to high school together and apparently he was a very smart guy who she never thought he’d end up in debt at all.

[@jasminecontreras7341]

I know this guy too. He’s a good man.

[@turtleanton6539]

Yes

[@LTJuni0r]

Standing ovation for USC for charging them this amount. Obviously it’s worth it. /sarcasm

[@jacqueline716]

U$C doesn't have the reputation of being the "University of Spoiled Children" for nothin'...as long as young people are willing to pay (or rather, take out mortgage-sized loans), they'll get away with it.

[@tommyd0624]

LTJuni0r can’t be mad at USC. Any business will charge the highest price someone will pay. Be mad that the government subsidized schooling and created this price.

[@tommyd0624]

Natural Man i made that post a year ago but ok. In a perfect world you are correct. But when all those businesses get together and agree they can charge more because the government gives out absurd loans then you have what we have today...

[@TWDxKILL3R]

Wow now I don’t feel so bad about my $2,100 credit card debt..... jeez

[@PKClanNet]

The $2,100 credit card debt is probably worse - and racks up interest at an astronomical rate.

[@domingofernandez2803]

I owe 1,200 bucks on my credit card and I feel great as well.

[@romariosmith422]

@@PKClanNet no it does not. That's an easy pay back

[@dlcmiamiinc]

Thats nothing. I accumulate that much every month and pay it off in full.

[@kylecouture1917]

0 debt here. Paid off all my student loans in a year. I do have a leased car though.

[@jjbuckner]

My Dear Lord!

[@kimjong-un5562]

JJ Buckner Investing I know only about 100 people owe 1 million

[@ofmiceandmandrakes1005]

I always feel better about my life after listening to the Dave Ramsey show 😅

[@buffaloben15golf88]

At least until he breaks the fourth wall 😂😳

[@j3rkch1ck3n]

I went to public school, went to a state college for the in state tuition, as did my wife (we both have only bachelor’s degrees). Last year we grossed over 155k and this year will be closer to 180k. Next year likely 220k (all things being equal). I’m 34 and my wife is 32...We don’t have children yet, but I can guarantee we will not push our kids to go to college just to go to college. My view of education has changed dramatically. Go to college if its truly going to get you a return on investment. Otherwise you will live with that debt forever. I’ve seen some of my close friends struggling to make payments and say over and over they’d wished they either went to a cheaper school or did something else. I actually now admire entrepreneurs more than ever. I am not one but we are in the process of starting our own business which would be self funded. If you are young and considering a masters degree just because, it’s likely not even close to worth it. Think wisely about the course you are putting yourself on before you execute, because almost everything you do in your 20’s will set the course for the rest of your life (there are always exceptions of course).

[@tamaralaird3389]

Keith, excellent advise. What do you and your wife do for a living???

[@j3rkch1ck3n]

Tamara Laird I fly for a major US airline and my wife is a Cardiac Cath Lab Tech

[@tamaralaird3389]

Wow. You guys make great incomes. How much does a Cardiac Cath Lab Tech make? In New Jesey it's 40k

[@j3rkch1ck3n]

Tamara Laird In NY last year she made 75k as a per diem. I guess it depends where you live. Shes really a Respiratory Therapist but she was hired into this position and took it for the schedule and pay. Most Cath Labs typically hire nurses into this position.

[@tamaralaird3389]

Interesting. Thanks for being open about this. I'm nervous because in HR your pretty tap out. Most you can make is probably 100k. And was thinking maybe I should go back to school, but reading your post--thinking not.

[@alexf4894]

I'd just leave the country.

[@ericks1081]

Alex F what I’m saying

[@SuckerPunch92]

Same. What do you have to lose?

[@juliansaurus]

Other countries can still look into your credit and debt

[@seankeenan9277]

Same and he would be very valuable with all that expensive schooling. I was thinking the same thing😂😂😂

[@themarinect]

The debt follows you till the day you die.

[@nolongerafan6228]

That's right, blame everyone but yourselves for going into debt.

[@kellylynn88]

No Longer A Fan Exactly what I thought when I read the article

[@TheRosswise]

Well yeah, it's far too easy to blame others for your misfortune that you created yourself.

[@Trazynn]

The problem is that these people commit to this debt when they're 18 or even younger. The least we can do is warn the next generation of what awaits them if they just continue the path that their parents and society has set them on.

[@luyendngo]

When you're 18 going to college in 2011, high school didn't teach you anything about money, parents urging you to go to college. College loans are as easy as a click of a button. This whole thing is a scam, taking advantage of just turned 18 adults.

[@regul8or71]

Kelly Lynn Of course! Why would they want to take responsibility for their own problems? That’s no fun!

[@Teamshmo]

I originally thought he was really dumb, but the guy is a genius. He has tons of debt, but a great life, and in 25yrs his debt is paid by the tax payers. Gets to enjoy all the finer things in life and someone else pays for it with no consequences.

[@willledbetter6744]

Team Shmo other than the 1.7 million he will have paid for his million dollar education that definitely didn’t make the school a million dollars at the time

[@emmabila3480]

i wish the purge was real

[@NewGrowth57]

Not to mention the taxes Dave says he’ll have to pay for debt forgiveness

[@joemomma7161]

Jimmy Google where could it have been attained for 100k?

[@joemomma7161]

Team Shmo I agree with you. Just remember this. He is paying a lot in taxes, so he is one of the tax payers. I think that is pretty awesome. And his income will only rise.

[@NYVonix115]

Mannn let me tell you the amount of people i know are going back for their masters after earning their undergraduate degree. They haven't even finished paying off their loans undergraduate Associates or Bachelors smh

[@taransingh839]

To be honest unless they are getting a STEM degree, Bachelors in Arts or humanities won't get you a good paying job unless you are lucky or went to a top school

[@I_like_turtles_67]

Virtualhawk Book smarts and common sense...... Some people don't have both.

[@lewdaniels1128]

Taran Singh depends ! Connections are way more important than anything! Many people go to small schools but use their connections to get a job and climb the latter fast

[@TimeisUp22]

Taran Singh going to a good school not going to cut it either. Harvard grads were working for 13/hr entry level.

[@mr.raslyon6626]

Got my STEM degree...kind of need to compete in the professional sciences.

[@marbman1587]

I listen to Dave's videos because I always feel better about my finances than I did 5 minutes earlier 🤣

[@karlmanning2603]

Me too!

[@NEO3578]

Me too!!

[@MyLevel10Life]

Student loans are so awful. :( I am SO glad we paid those off. I'm encouraging my kids to do everything that they can to avoid them!!

[@thewb3]

congrads to you! How much was you're total sum of debt?

[@princessmoo4891]

or you teach them to get a job where they can actually repay the loans

[@Rmando]

Thank god I was smart before taking them. I always questions them from a young age. Why take loans? You’re going to have to pay them back eventually. Those 2k loans you took out will add up.

[@chiefzackery6651]

Pulling the Strings you can go to community college for 2 years for free... then save those 2 years and pay cash for university

[@VARun2CGS]

pay for their college.

[@rickazca774]

With ALL of these stories of loan debt, despite all the pressure I received, no matter what anybody said to me about the "Value" of education...I'm so glad I just got my Associates Degree and went straight into the workforce. I knew it was the right thing to do for me but I had no idea of the true headaches I was avoiding.

[@caninebureau]

This is america

[@Live-life..]

Donelle Anderson rip off

[@JonShanny]

don't catch you slippin' up

[@Alister22ful]

Actually this is library...

[@jamesmerone]

guns in my area...

[@oversizedshipping]

This is stupidity

[@bandyboi3032]

Suddenly i don't feel bad going to community college for my 2 year and transferring to a 4 year university

[@SchroederSport]

How is it going so far?

[@henrymccomments]

My 29k student loans isn’t too bad anymore

[@kylecouture1917]

U can pay that off in a year. I paid 20k off in 10 months with an pre-tax income of 48k. Granted i live at home, but i put about 70% of my check every month into my loans. And what was with a car lease payment of 300/monthand insurance of 1400/year in CT where we pay property tax on vehicles every year ($850).

[@lefthanded5473]

Kyle Couture He might not be the right circumstances to pay off the loan debt as quick as you. I get what you mean though, but not everyone can fit into your shoes.

[@henrymccomments]

I’m on a similar path and thankfully live at home as well nearly debt I’ll be completely done with my student loans by February 2019 sticking to the strict payment plan

[@henrymccomments]

In retrospect I did graduate in 2013 and move back home towards the end of 2014.... if I didn’t move back home and been fortunate to be able to I would have another 5-10 years dealing with debt

[@henrymccomments]

213JMD213 Completely debt free and thankful I’m 29 healthy and happy thanks for asking

[@stephanieblopes]

I would love to go to dental school but that debt is ridiculous. I’m in my last year of dental hygiene school and I’ll be graduating debt free due to scholarships. I’m proud of myself for choosing this route even though I’ll be making less.

[@cesarchavez507]

Stephanie Lopes you go girl, wifey material

[@shedelineulysse3387]

Stephanie Lopes Thats the smarter way because once you making that money you can save up and choose to finish the program if you want to!

[@samirchaudhry1824]

No debt !!!!!! Impressive

[@moisesbeyond]

Why dont you study in UNIBE in Dominican Republic? cheaper and really good program

[@kaiung7542]

Not like you would've gotten in anyways

[@dayanarodriguez3184]

Mike Meru is not stupid, he’s so smart that is not going to pay that debt he’s gonna still have expensive vacations, drive a Tesla and lives in a 400K house. He knows what he’s doing

[@jjwrenmusic]

Waiting for the day... Caller: I'm $4,000,450,324 dollars in debt. D.R.: Goodbye.

[@aaronsalentine7876]

🤣🤣

[@okthennone]

The government should've never been involved in student loans!

[@nephetula]

Then, where would the colleges get the tens of millions of dollars for their football and basketball teams?

[@1981lashlarue]

@@nephetula Ticket sales, merchandising, tv revenue.

[@GenerousFarmer]

Without the Govt backing these loans, the tuition's wouldn't be this high.

[@deepsurge6168]

I definitely think it's more of a supply-driven problem than a demand-driven problem. To me the demand isn't excessively high, the supply is excessively low and that is causing prices to increase dramatically. I think tax payer money would be better spent funding new colleges to open than paying for everyone's debt.

[@GenerousFarmer]

@@deepsurge6168 Tax payers do fund colleges.

[@prattcreekart]

Dentistry is a great service if done right for both dentist and patient. I've noticed also certain dental practices with about 20 people running around and all that student loan debt and don't trust they aren't ripping me off. My dentist is middle aged, has two rotating assistants, receptionist, owns his building and his brother owns a mortgage company on the second floor. In other words, he operates and lives below his means. My dentist never overcharges and actually tries to save me money. And he graduated from Northwestern dental school back in the late 80's.

[@Cahluvca]

Love my dentist also! If done right is the key point

[@rudistorm3348]

Angela- The key is your dentist graduated in 1980's when college was affordable and made sense. Since 1980 college has increased 260%, household items 120%. Add interest to the debt and you have a cluster f*%k of debt.

[@callak_9974]

Pretty sure since he graduated in the 1980's, his education was far, far cheaper than it is now. And if he owns the building, pretty sure he's paying it off or even paid it off. Heck, his brother is even probably paying rent for the 2nd floor. He's probably getting a far better deal than he would somewhere else, and knowing you have someone reliable there to pay rent and staying long term is a great deal of stress gone.

[@Topagendadolla]

Angela Moulton Your dentist is not middle aged. He is old. He was maybe 30 when he graduated. It is 2018 he must be in his 60s atleast by now.

[@prattcreekart]

He's in his 50's. He may have graduated in the 90's. My mistake.

[@josephsonntag1354]

This is so true.. i am a 4th year medical student and all I needed to do to get the federally insured loans was be a us citizen and accepted to a us med school.. it is sham and it makes the schools have 0 incentive to lower costs because the funding is guaranteed.

[@andreasmiff]

People can not really be this dumb to go into debt for a school that costs $71k a year which is more than A LOT of salaries coming out of college!!!😑

[@yoleeisbored]

he shouldve went to a state dental school...

[@kdilli6426]

This guy pays the bare minimum because he knows that after 10 years, all the rest will be forgiven. Ridiculous.

[@2inchfromtheground]

K Dilli its actually 25 years for this guy

[@Am-Not-Jarvis]

Grad school wouldn't cost so much if the debt forgiveness didn't exist. Economics.

[@9doggie12]

God help us a used Tesla

[@ohmyjesselyn]

Deuante Kelly Right! It’s one thing to have all of those loans, but they’re still living like they have money (they don’t). Why do they need a $400,000 house on a mountain?

[@rushiasingsfasola]

I know right, that thing breaks even something minor the engineering on that is going to require a dealership part and dealership technician...and dealerships are upper end for every type of car.

[@blackopagent]

He wants to save money....lol

[@syr72]

He'd rather put the gas money towards his debt. Smart move but after what😂😂

[@MAVER1K217]

Bet the wife is a stay at home mom. 🙄

[@4memotivation]

MAVER1K 217 she has a $400k loan in her name, I’m going to take a wild guess and say she’s the least of his problems. I’m curious if any of you morons are capable of reasoning at a high school student level.

[@VincentBriatoreTV]

You think being in debt 400k on a mortgage is a good thing and you’re calling everyone else morons??

[@Sam-jd9yu]

@@VincentBriatoreTV The point is that she clearly isn't a stay at home Mum, if she could get a $400k mortgage.

[@Murica-gh8bg]

TheLittleThings If he is making more than 200k he definitely can afford a 400k house

[@Sam-jd9yu]

@@Murica-gh8bg But the house is in her name, therefore she's not a stay at home Mum as the original comment suggested.

[@pipr5070]

Thank goodness that in Australia we have limits on the amount of HECS (Uni fees) that a student can accumulate. Once that limit is hit, no more debt.

[@kylecouture1917]

So he makes about 300k a year but only pays 1500 a month? Lol

[@TopShot501st]

Such a burden 😭

[@Dazak]

He should be featured on an episode of American Greed.

[@Melly16yr10]

Never been in debt once in my life 😊. honestly I am completely shocked how people do this to themselved. Completely & utterly nuts, can’t understand it at all.

[@Interestingenough4]

And I thought having about $40k in student debt in my 20s was bad!

[@alrbredwall]

But if people dont get masters degrees...then....then....who will build the roads?!

[@josephhsu3221]

I learned about personal finance on KZbin, and I ain’t even 18. This man has no excuse

[@sson386]

"Going to an expensive school because you think you'll make more money, it doesn't" Yep, my friend learned that the hard way. We both have Chemical Engineering Degrees and now we both have jobs making 70k/year. However, I went through Community College and then transferred to a State College and came out with only 25k in student Loans. My friend on the other hand went to a Private College and came out with over 150k in student loans.

[@leilanikuuipo6004]

My friend is a Medical Doctor and he borrowed 400k. This guy was living well beyond his means, living, spending, has kids that most of us cannot even think about affording. This will always be on his credit report and there's no bankruptcy for this. We tax payers are funding his lavish lifestyle.

[@turtleanton6539]

Yes

[@ESUSAMEX]

Every Time I really become really worried about my debt I watch these videos to feel a little better, because my debt is no way near the amounts heard in these videos. I will never understand how and why someone earning a wage over $100,000 a year can't live frugally and sock away a ton of dough for the future.

[@prosperousk5477]

I got a headache from listening to this!

[@tahirhaq9627]

Probably the smartest thing Dave said. Government needs to get out of the business of college

[@RyanTehPyro]

Didn't blow my mind until right around that 6 minute mark.. Never thought of "Federally Insured" being "Insured by the Citizens of the US"

[@gmarie3053]

In the UK, every school costs the same . From local universities to Oxford/Cambridge, all the same price. So lucky

[@hanaj]

G Marie we have in state public universities, private not for profit colleges and universities, private for profit colleges, community colleges. You guys don’t have that.

[@umt6429]

Not for foreign students just saying they pick. Up the tab for. Us

[@AustinMichael]

@@hanaj We wouldn't need any of those different classifications either if we benefited from our taxes

[@Khaab00]

@@AustinMichael But what about Lockheed Martin and Boeing? We need more war not a more educated population.

[@sakkysha5496]

G Marie, impressive!!!

[@tankthepitbull520]

Now I’m laughing at my debt of $1,400 😂

[@dmac2899]

You still had debt why are you laughing?

[@DistopiaKosaki]

Did you pay it(

[@lorettayoung3088]

Mike need a sugar daddy or a rich cougar.

[@VincentBriatoreTV]

Already has one since the wife bought the house!

[@AppleCrider]

101 People!?! 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 & 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬𝐡𝐢𝐩 𝐅𝐨𝐫 𝐒𝐭𝐮𝐝𝐞𝐧𝐭𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥 𝟔𝟐𝟑/𝟏𝟎𝟎𝟎 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄𝐑 𝐆𝐎𝐀𝐋

[@jeffc1347]

"...home is on a mountain with panoramic views of the snowcapped peaks surrounding Salt Lake City, they take vacations including a recent trip to Havanah, and they drive a used Tesla" Why am I not surprised?

[@chriswilson1968]

Married to a broke dentist? Orthodontist Dave, learn the difference 😂

[@NABI_REALESTATE]

Haha I went to USC and decided to transfer to in state school watching Dave Ramsey.

[@erikshure360]

You're supposed to go to community college and then transfer into a school like USC.

[@yoleeisbored]

@@erikshure360 or just don't go to USC at all go to state school. isnt USC most expensive? USC more expensive than NYU.

[@rachelerickson4696]

Me too! I couldn’t stomach the idea of the student loans. I’m at community college now then transferring to a state school. I wish I would have spent my first year at community college too

[@austina4189]

MY. GOD. how does one even get into college being so ignorant with money?

[@princessmoo4891]

Austin A he's not ignorant, genius really. He took advantage of the system, lived in luxury for 10 years and then is going to have most of it forgiven. He'll probably have the 700k in taxes ready to pay off her invests well

[@KnockoutInvesting]

This is the state of the upper middle class. He's an Orthodontist he makes close to $500k a year, he can pay it off in 2 years

[@melvinlewis5811]

In germany we get paid to go to university :D

[@helmer5667]

Same sweeeeeden

[@Geevs80]

Anyone who wants to go? How do you qualify?

[@BratwurstSafari]

@@Geevs80 Not everyone can go. Usually you have to complete the Abitur qualification in the 12/13th year of secondary school (like half of students do). Depending on the program, it also depends on your grades, both the average and in indidual classes. And not everyone "gets paid" to go, it depends on the income of your parents and the maximum of support you can get is 735 euros per month. But you get some perks like free public transport and the fees for school are a few hundred euros per semester at most (below 200 euros most of the time).

[@longlieu2851]

No thanks, i prefer US STEM education

[@yusufcagowayne1990]

No thanks American community colleges > Europe universities

[@channell11]

Seems with that salary he could afford to pay considerably more than 1500 a month, especially if they trimmed their lifestyle. This guy's just looking to game the system.

[@yen-8680]

“They will loan money to a dog thts dead” 💣🔥 Student loan is a deadly trap

[@GalbertKun]

I hope that Mike can formulate a game plan. This can be done, I hope he calls Dave

[@emmabila3480]

I hope so to before we pay his bill, if a penny of tax payer money pays off his debt i’m going to hate him even more

[@JamesPrime1]

The more I see stuff like this, the more I agree with Thanos.

[@sarahlisa4627]

I think it’s crazy how much you can take out in student loans in the U.S. In Canada we have a lifetime limit, so it wouldnt even be possible to take out that much. For example, for undergrad you can take out a maximum of 75,000. And lets say you go on to med school after, s a combined amount of 150,000 (that includes the amount you took out for your undergrad degree)

[@wiiiz3]

there should be a limit where you cant be allowed to enroll in school if u have a certain amount of debt

[@mikenelson8377]

Jeremiah makaveli there should be a threshold of how much you’re allowed to borrow. $10k should be the limit. He won’t see the light of day for quite possibly the rest of his life with two daughters and a wife to support.

[@whatevergoesforme5129]

Mike Nelson, I agree. People should not be allowed to borrow that much. The problem is government intervention by way of subsidy so universities can charge higher tuition fees because of the guarantee.

[@blacklyfe5543]

Mike Nelson no it shouldn't

[@TetraSamurai]

Mike Nelson 10k? That’s nothing, maybe one semester worth. Not even depending on where you go. The cap should be 100k

[@baylietrout7888]

there is

[@HashBandicoot356]

Dental schools need to be reigned back in with their cost of attendance. They are running wild.

[@jaden2758]

Or you could not go to the best private collage with no scholarships or money from your parents and just go to a public collage and get the same education for far less

[@WCGwkf]

He's applying pennies to his loan. Probably living like he has no debt like an idiot

[@blakeb4583]

I'm graduating in May of 2019 and I've calculated my loans to be paid off within 3 years from watching Dave's show for the last few years

[@JakeStewart1343]

CONGRATS!

[@guyheavengym]

I am splitting my sides laughing at this right now. This is the biggest racket of all time and people are NOT wising up!

[@DrawnInk1]

Universities seem to be laughing all the way to the bank.

[@violacrb]

He doesn't worry about it because he believes debt forgiveness will solve everything if he just waits it out.

[@Kevin_Roche]

violacrb If he waits it out, then his debt will more than double quickly. And then he will see how large it is and laugh and never put a penny into paying it off again.

[@theAppleWizz]

he paids 1500 a months

[@johnsmith23ist]

violacrb what happens if u don’t pay ur student loans. Do u go to jail

[@TetraSamurai]

KeepIt 100 they will start taking money out of your paychecks

[@AustinMichael]

Nope in the case of a traditional loan what happens is eventually if you don't pay the company first sends it to collections and your credit will take a big hit. If you still don't pay after awhile they will end up selling your debt to a third party to try and recoup as much money as they can because it isn't worth trying to get it from you anymore. That third party who now owns the rights to your debt will begin harassing you trying to get you to pay the full amount so they can make money. In the case of these loans this guy has he will pay 10% of his take home income on the loan for 20 years and after that the remaining balance is forgiven but that forgiven amount is considered taxable income. That form for tax purposes is a 1099-C

[@Zoot_of_Anthrax]

You care what people think and you will always be broke. This guy had to go to $$$ school, $$$ house, $$$ car. Why? Because they have case of jonses. I didn’t go to school, make 6 figures, live in cheap house with cheap car and don’t go on vacations. I put half my paychecks into savings. Because I don’t give a F what people think.

[@gcord21]

There are cheaper alternatives like going to a community college first but that is frowned upon by many parents and students because it's a community college. Going to an expensive university is just not worth it anymore.

[@luke7842]

Its an unbelievable amount of debt, HOWEVER with a $200k+ income he could have chosen to live on $50k and pay the rest to his debt. He'd have been debt free within 10 years or so. Then start investing 100k a year and he'd be a millionaire within another 10 years.

[@breezyveezy1]

So they loaned him more than he could EVER pay off. Really SMART:/

[@Vydio]

I disagree ..... I think he could pay it off, but doesn't want to. He doesn't want to give up those glorious vacations.

[@SpidermanandJeny]

This guy could easily pay WAY more than he is. So he should be. However, the interest is getting ridiculous. Interest is not nice.

[@Shineynsparkles]

The orthodontist can pay that off .... He just not trying to pay that off :/

[@thejamesmartin]

I really hope Mike calls Dave!! This guy needs a plan so badly, and Dave really is the best teacher here. I can't even imagine the burden of that amount of debt, but there is a way out. There is a way out for everyone.

[@alexalawrence7095]

When DR tells him to sell the house, he won't. He won't listen to Dave. He's in too deep and not willing to give up his current lifestyle.

[@ignazs.5816]

Way out: Leave the country.

[@TimeisUp22]

Don’t feel sorry for him

[@Ripside2]

@Ukreain Iowen Exactly why get out of debt?

[@cateyes97]

Who would loan someone that much money? Dave, this is CRAZY.

[@aqibos]

He pays $1500/mo... in 10 years it’ll be forgiven and he’d only have paid $180,000 with those payments. Why would he rather pay it all off? 😂

[@brilliancemusic6095]

Aqib Shah that’s if he follows the program correctly.. unfortunately only a small percentage does

[@JK20239]

@@brilliancemusic6095 only 96/30000 got their loans forgiven....lol... u have a better shot getting stuck by lighting

[@jamesjhonson4568]

The government has to and needs to stop this financial irresponsibility, these people are defaulting on the loans, which is now adding to the national debt.

[@TheUndulyNoted]

Here's what you're missing, and why the government must ensure its possible for people to do long medical degrees. Everyone needs doctors, orthodontists, dentists, statisticians, chemists, computer scientists, etc etc. All things that are only possible to be with a long period of study. If it wasn't possible for kids to get loans to study these things, the country would be in a very sorry state, with no highly trained professionals to serve the population. So yes, we take a risk loaning money to people for these qualifications, a financial risk. The far bigger risk is not loaning that money and plunging the country into chaos when all the current doctors retire.