SoFi Is Losing MILLIONS Over This!

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[@Chris-fe3dn]

SOFI is my bank and they are an AWESOME BANK! They pay depositors 3.75% interest and lend at the lowest rates. Bank of America and JPM and Wells Fargo don't pay their customers anything. SOFI provides both borrowers and depositors value. BEST BANK EVER!!!

[@amireallythatgrumpy6508]

"Awesome bank" is an oymoron.

[@Chris-fe3dn]

@@amireallythatgrumpy6508 How is that? They pay you to be a customer. Jumbo Shrimp is an Oxymoron.

[@amireallythatgrumpy6508]

@@Chris-fe3dn And then make you experience terrible customer service. How nice of them.

[@Chris-fe3dn]

@@amireallythatgrumpy6508 Never had any issues myself.

[@amireallythatgrumpy6508]

@@Chris-fe3dn You would be the only one. Or you don't demand enough respect

[@matthewstump]

Sorry, but Dave is WRONG about SoFi. It's a way better bank experience with way better rates than 90% of banks.

[@han1218]

SoFi historically made most money from student loans, but only recently they are becoming to a "bank". Ramsey doesn't like people taking on student loans, hence the hate for SoFi.

[@sterlingcampbell2116]

​@@han1218He didn't day anything about that. He said they were a "crappy company selling crappy products" which is dead wrong. Dave is great for getting out of debt... but he's got a lot to learn where investing is concerned and shouldn't be taken too seriously

[@Longingforaerwiar]

Agreed. We've loved Sofi.

[@aug07broken]

It’s so hard to get sofi on the phone, is it just me?

[@dpav02]

Dave is wrong about a lot of things. I love my SoFi vaults!

[@jaimezelayandia890]

I have no issues with sofi. People always got something negative to say about everything.

[@shawnkay5462]

Im leaving Bank of America and going to SoFi

[@FrankSouza-ss7cz]

Good choice. Big banks are losing customers like you in droves, they dont want to accept it. Wait till they have to drop their dividends, they there will be at outflow in numbers never seen.

[@cluckieschickens]

The reason College is so expensive: The price started sky rocketing when student loans came on the scene. Before that, the price was lower or no one would have been able to attend. Once student loans started, the colleges started raising prices at an astronomical rate, because they then knew they would get their money from the bank, guaranteed, you owe the bank. They have their money. So the colleges, they can raise the cost again, because they will get their money. The only thing that stops this is if people say no to student loans, and no to paying those high college prices.

[@diez5778]

Or use basic economics principles and attend smaller, cheaper schools while working to adjust borrowing/spending.

[@Sizukun1]

Same with houses, car loans, financing for furniture, and EZ pay for your cell phone. The easy solution is to just not participate in college which costs so much for little return.

[@lkj0822g]

Same thing happened in various states when they began using Lottery proceeds to fund various "scholarships". Huge influx if marginal students who decided to "try that college thingy" who then flunked out after a year or so. Colleges loved it because they staffed those remedial programs with part-time instructors but charged full tuition. Colleges could also increase tuition at a rate 4-5 times the rate of inflation because, you know, the Lottery was paying for it.

[@Jeevanm71]

That is absolutely not true. Student loans came into the picture well after tuition being unaffordable. The reason why ppl had to start taking out loans instead of paying out of pocket or working and paying was because of how unaffordable it got. You have the ordering of these events completely wrong. Ppl don’t take out loans if they can afford to pay directly

[@subjecttochrist]

@@Jeevanm71 not necessarily. You’re assuming people making financially prudent decisions… which is most certainly not the case

[@Techvoyage777]

Pandemic time was when I paid mine off. No interest was the best.

[@monikaw1369]

Great move! Not sure why others didn’t do the same thing. All the money paid would go to principle.

[@santacruzrider100]

I did the same.

[@fatimamanneh9432]

I also did the same it was a good decision

[@kariatkinson4121]

Definitely a great move! Paid 2/3 of mine off during this time. Hopefully will have it paid off by the end of the year

[@ebonneenelson2325]

I refinanced prior to the pandemic because I wanted to pay off my student loan faster. That’s the only thing that was good about the pandemic

[@clomz213]

SoFi is an amazing bank. My old bank was scummy for giving me such low interest from the time I was 10-21 years old. I'm finally getting some decent interest since I've moved to SoFi...

[@pulpprof526]

I agree! But I’m curious also. Why does Ramsey hate Sofi? 4.3 savings, 1.2 on checking.

[@lombardo141]

@@pulpprof526I don’t think he hates SOFi for their rates he just hates predatory behavior like encouraging people to get into debt.

[@alexanderthewise1352]

They're aggressively stabbing their customers with student loans in the back for financial gain. Tye point is expect a bank to be in business for itself. Don't fall for marketing. If you're looking purely for interest, UFB offers just over 5%. That's where I park the bulk of my savings, though I do use SoFi as my primary bank despite having student loans. They're a decent all-around service, though they lack the depth of quality dedicated services (eg. Fidelity).

[@doseofreality100]

I think Dave's like me and just hates debt.... I mean.... I know he's like me. I mean his whole empire is built on his hatred of debt. So it's not so much Dave hates SoFi.... Dave hates pretty much any lender. If you know Dave's backstory.... you know why. He over leveraged himself (took out way too many loans) from his banks in the 80s. Said banks changed owners. New owners saw how under water Dave was and demanded he repay his loans.... he couldn't.... and had to file bankruptcy. Dave didn't know how loans work.... much like current college kids who think they HAVE to go to college to make a living in life - regardless the cost. It sucks. don't get me wrong, but I mean it doesn't take a rocket scientist to figure out how loans work. Dave learned the hard way..... and ever since has loathed lenders and debt. I'd say what happened to Dave has made him a bit irrational when it comes to debt and PROPERLY leveraging yourself with good debt - yes, despite what he says there is such a thing as good debt. But if you have absolutely ZERO self control you can get in over your head with too much debt...... like Dave. One just needs to know what they're getting into and what they can actually afford. Way too many people treat loans like it's free money. There's no such thing as free money. Hell, even the "free" money you make on your investments will eventually be taxed. What are taxes other than a form of debt you have to pay our governmental overlords. Taxes is just the government word for "interest owed"..... for living. Taxes are the debt you pay for living IMO. As if you can't tell I loathe taxes more than I loathe loans/debt/lending companies. Because at least with lending companies they're actually providing a service for you and giving you money to BORROW..... you just have to realize you're borrowing it and you'll need to prioritize paying it back. Taxes..... is just straight up theft..... what service does the government provide you? Schools? Look how great those are doing.... also.... I don't have any f-ing kids so why the hell do I have to fund schools just to indoctrinate kids into being more useful idiots. Hell... they don't even know how many genders there are or proper pronoun usage.... why the hell should I have to fund that via taxes? Infrastructure..... have you SEEN the condition of US roads? They say they're spending money on roads and bridges to repair and upkeep them..... but I feel like that money is being used to just pay UNION construction crews to set up MILES worth of cones.... and not do a damn thing. Here in Indiana it feels like EVERY road is under "construction" but in a given week as I drive by I might see ACTUAL workers out there maybe.... tops.... 3 days a week. Typical unions IMO. Mediocre work that takes about 5x as long to complete. I digress..... but come at me you union pawns. I'm willing to spar, haha. Bottom line is... Dave hates lenders because he was horrible at handling his loans back in the day.... he fell for the "predatory" nature of lenders. One can easily say it's as much Dave's fault for going bankrupt as I'm sure he says it's the lender's fault. Bottom line - regardless of what dave thinks - lenders DO provide a useful service. So long as you understand how friggin loans work and realize you have to pay them back in a timely manner...... and if have a net worth of $4m...... but have about 1/3 of that wrapped up in just loans..... yeah. Debt is bad.... if you let it consume your life. Me personally.... I've always cringed at having to owe someone.... anyone be it a lender or just another person money. I've always been of the mindset if my car payment (back when I used to buy and take out loans on cars..... current job I have - which is AMAZING - provides me a brand new car about every 2 years.... that I can use for personal use.... so I have no need for a true personal vehicle) was over.... $300/month that was far too much. Not because I was a tightwad.... I just knew how much I made per month and how much a car payment would eat into my partying and having fun money, haha. To be in my 20s again. Unlike Dave I also would take out the LONGEST term as possible when taking out a loan to make the monthly payment as small as possible even though I could easily afford more per month. Reason for this is there isn't a lender out there who gets butthurt or doesn't allow you to make a payment that's MORE than what's due. You can always make you monthly payment and then add more to go to the principal owed. If you take out a loan though for the same amount of money but instead of a 6 year loan you got, say.... a 2-3 year loan. yeah, on paper you got a lower interest rate..... but your monthly payment is likely 2-3 times as high as the guy who took out the same loan amount but over a 6 year timeframe. BUT.... that dude with the 6 year loan can afford to essentially make double payments each month and will wind up paying that loan off in 2-3 years..... just like the other guy...... and..... likely will spend the same amount on interest. The guy with the shorter term loan though HAS to make that bigger payment EVERY month. Not doing so tends to make lenders upset, haha. So if a curveball in life came his way - he's screwed. Whereas the dude who's SMARTER and took out the longer term loan.... same curveball happens in his life..... but instead of making his usual, say, $600 payment per month, he only makes the payment that's due that month.... which for him is like $300. He has 300 extra dollars to deal with that curveball now..... and can then go back on his way the next month or 2 down the line making those double payments again. One just needs to know how loans work..... and it's really not that complicated. People just make it complicated. I'd say Dave is one of those people. But not in the usual sense. Dave makes debt/loans more complicated by being overly petrified of it...... because it bit him in the ass once.... and he's never forgotten about it. Understandably so, but instead of truly learning from it and learning how to use debt to you ADVANTAGE..... Dave is petrified of it and has avoided it at all costs....... or..... at least that's what he sells in his message. A message that's made him MILLIONS. Not hating on Dave. He does have good advice. But anyone who is an extreme either one way or the other just makes me roll my eyes. Doesn't mean they don't have good advice..... just means they have some advice that I feel is.... kinda bullshit. Like Dave's mantra of only taking out a 15 year mortgage. That might've worked decades ago, but nowadays..... unless you have a MASSIVE nest egg of cash to use as a downpayment..... taking out a 15 year loan will result in a MASSIVE monthly payment. That or you'll be living in a dilapidated house. IMO...... take out the 30 year fixed..... buy down you interest rate as much as you can. Buy a house you can AFFORD..... and just make the minimum payments. With time, maybe you can add a little extra to go toward the principal. Or maybe down the road interest rates will drop again and you can refinance to a lower interest rate which will then allow you to make the same payment you've been making but more of it will be "extra" and going towards paying down the principal. Point is it goes back to taking out the LONGER term loan being the better option IMO. Again, lenders don't mind if you make EXTRA payments. They get pretty furious though if you can't make the minimum payment..... Dave knows that first hand..... .and got butthurt about it. But kudos to him because he's turned his butthurt reaction in making bad decisions into a multi million dollar empire - which I respect the hell out of. But instead of preaching how to responsibly take out debt, and manage it.... he avoids it at all costs. Which IMO..... isn't great advice. Everything else he preaches though - I agree with. Can't like EVERYTHING a guy sells. I just think Dave's approach to loans/debt.... .is kind of.... simpleton-like. That said - I wholeheartedly agree with his take on credit cards and credit scores. IMO credit card companies are far worse than lenders. The whole credit card/credit score thing is such bullshit. It IS pretty much a score on how good you are at taking out and paying off debt. Because the more credit cards you have and the more you use them and pay them off immediately the higher your score gets. Like.... how is that not a pointless middle man? Why use a credit card to pay for something if you're just going to immediately pay that credit card balance off with your bank account/bank card? Why not just pay for the thing you bought..... with your own money from your own account? Credit Cards are fucking retarded. haha Phew.... that went longer than anticipated. As for SoFi banking.... I've been looking into getting a new bank and I ain't going to lie.... SoFi looks intriguing. Right now for me it's between them and Ally.... the OG online bank.

[@rikkitikkitavi31]

This is a terrible take. SoFi refinancing loans and wanting people to pay the loans doesn’t make them a villain.

[@RobertLW]

When you say things like SoFi is scummy, and say you have to go into debt to get high credit, it makes it hard to take Dave R seriously.

[@TheSushiandme]

He makes money with yelling. 😂

[@icheko2498]

Calling a business out for caring about millions of dollars in loss is stupid. No one forced these people to get the loan. It was adults doing decisions.

[@hypersenpaisf3351]

Also you contradicted yourself “Sofi is not going to help you”. People had the chance to refinance at lower rates a few years ago. But while waiting for uncle sam to bail them out, now they will have to refinance at way higher rates.

[@The1JBanks]

Exactly….

[@SAULITO_RE]

I have had Sofi for 3 years now and have zero problems and love their products. Less sketchy and scummy than most banks.

[@sheringham17]

Hey Remsey! You should put your money in SoFi savings to earn you 4.25% APY!! And they have 2 mill insured your hard earn money for each account, vs 250k FDIC for other Bank. Are they still scummy?

[@stayreal4l284]

I’ve been seriously considering getting into SOFI HYSA which is now 4.60% better than what I have now at wells which is 0.01…. But the way he reacts makes me doubt it now….

[@BeautyOnEarth]

I received more interest banking with SoFi the last month then with BofA the last 20 years

[@FrankSouza-ss7cz]

Love it!

[@Msteve-nt5bx]

My loan is with sofi and honestly they're not wrong. The moratorium is complete nonsense.

[@pdm909]

Is a refi with Sofi blocked from bankruptcy like a student loan?

[@johnpublic5169]

The heroes are the ones that put their nose to the grindstone and paid off their student loan debt during the pandemic. Sallie Mae left my life in June 2022. Only debt is 50K on my mortgage.

[@ozzie1684]

Congrats!!!

[@RichardColwell1]

Good work

[@SamuelClemente7718]

I went to school for free.

[@RichardColwell1]

@@SamuelClemente7718 thanks for your service

[@Zimnicki1127]

Congratulations on getting your paid, but 9.6 million or 57 percent of the country could not work during the pandemic

[@RichardColwell1]

I decided to not wait and find out if I was going to get my student loan forgiven. I decided to start paying it off, I’m almost paid off now.

[@stephenshelton4267]

Thank you for honoring the contract you chose to sign.

[@ozzie1684]

Tell your friends also!!!

[@j_boogie_483]

return your degree ask for your money back. spelling paid with "payed".

[@HOLDXSTEEL]

Want a cookie?

[@mattmasteringer4399]

Why would you pay them off, they will be forgiven either today or in the future. We have the money to bail out cooperations, send money to war and telling me we can’t forgive student loans to the hard working Americans.

[@bill40409]

Dave, since you dislike SoFi so much, how about you tell us a bank that you do like? I'm a Dave Ramsey fan but it's frustrating to hear the bashing of one bank but no mention of a better alternative.

[@ericmodernel9205]

he likes JPM the monkey takes orders from them

[@orr989]

exactly!!! he’s Dave is a hater with no solutions. just a grumpy old man that has become jealous and envious of those that have more influence and power than him.

[@censored1360]

Imagine being so gullible that you believe the US Gov is ever here to help its citizens

[@sasinosoft]

They are literally owned by the banks, it's all just bank vs bank here

[@josechic2480]

sofi offers the best rates out there, people is stupid not to bank with them.

[@phillipsouthard8285]

Have your feelings about forgiveness, but the pause has been a huge help for a lot of people I know right now.

[@alishavogel7926]

Of course it's a huge help. I'm sure if people's grocery bills were paused it would help as well. The thing is though, it has no basis. There is no emergency and at this point, it's solely political.

[@phillipsouthard8285]

@@alishavogel7926 except the national emergency status doesn’t end until May, so it has basis until then.

[@kylehuffman4096]

Why hate on sofi? I bank with them.

[@maxminutiae1170]

Some people just get a high off pointing a finger and shitting over anything and everything. Heaven forbid any bank every make any money off anyone ever. The only good bank is one who will give you everything and ask for nothing. Not realistic, but people like calling any kind of greed evil. I’m sure even Ramsey has had his greedy moments.

[@SharenaHartley]

People sofi is a high yield account I don’t bank with them but I hear good things about them

[@frankm2385]

I don't blame SoFi. I would want my money as well. In fact, people should pay their bills. Not sure where the problem is?

[@RodCine]

Greedy people should pay.

[@foundationsbaseball]

The same program every four years. “We are launching this new program that will help XYZ but it’s totally ineffective but you’re still going to pay for it”

[@justinluster4640]

I joined the military and use my GI bill. Nothing is free!!!!!

[@illmatic33]

So time to buy sofi stock

[@ericmodernel9205]

yes

[@Phakaday]

I like sofi and bought some shares.

[@NevermoreOG]

Sofi is actually a really good bank. Don't bash

[@sethjohnson4845]

“Get six jobs!” Lol

[@ericmodernel9205]

Clown talks crazy

[@chrislott7541]

SOFI stock is on sale. Buy the bank, not the loans.

[@bladeseptim]

People only take on those student loans because colleges charge an absurd amount... Yes, loans suck... but colleges that are charging more and more while providing less and less value need to be held responsible.

[@michaeltoney2277]

I love SOFI for banking and investing; plus they are FDIC insured.

[@amaddenmind4597]

SoFi is a good investment right now stock wise

[@maxwhite6001]

Miss by Dave here. SoFi has never made a profit in their existence, partially due to lost revenue from student loan pauses. Dave claims to support people paying off their loans at a reasonable rate in a reasonable amount of time and SoFi was designed to help people do just that. Painting SoFi as a greedy profit machine corporation that feasts on poor people is not accurate.

[@ericmodernel9205]

He does not know how to read a 10k

[@bdtn342]

The pandemic is over. People need to honor their obligations and pay their debts.

[@Jay78910]

As a society, I can't believe we haven't moved past monetizing education. It's so obvious.

[@timothyn4699]

so what are you saying, that teachers work for free? that is quite unrealistic

[@hieuhuynh9358]

I get 3.75% on my sofi savings. Go SoFi!!

[@anthonywebster8638]

If you're "SO SMART" because you went to college, you can be "SO SMART" enough to pay back what you agreed to.

[@averytribbett8932]

I’m a customer of Sofi and I don’t really like the look of them suing but they do offer 3.75% on savings and their loan interest rates are lower than almost every other company

[@CJ-fh5xq]

@King Of Crunk Sofi just raised it to 4.00%.

[@ryannutt2377]

Sofi is fixing my life 3.75% on my savings and emergency funds and I use my points to pay off my small student loan at 3.25%

[@ericmodernel9205]

4.0 now

[@woodysrockspyro6436]

Don't give money to people with their name on skyscrapers or stadiums. They got plenty

[@FoxLawnCare]

SoFi isn’t scummy lol

[@tonysmithjr4214]

Sofi is great, i make 400-500 in interest every month to do literally nothing lol..

[@mattpope764]

Same here!

[@plexsm1425]

How?

[@M1Bobby]

They have awesome rewards

[@geezmath8519]

with their savings interest rate?

[@suesue3974]

@@geezmath8519 4.20% Bank of America was like 0.0 something.

[@glowpunk]

The bank has so far been great to me. What’s all the fuss?

[@moonaj89]

So why does he hate sofi so much? I've been using them as my primary bank for I over a year and I'm a fan.

[@jimmymcgill6778]

He just loves to call people names. They are a bank. There are in business to make money.

[@eduardodominguez1486]

It's a shame students were sold a bogus degree. But I do believe in if you borrowed it, pay it back.

[@jimroscovius]

They bought it. That's on them. They shouldn't have been stupid.

[@jimroscovius]

@Lucas Levon Taxpayers care.

[@kingtee94]

It's a shame they chose the "bogus" degree lol

[@eduardodominguez1486]

@@kingtee94 you know what I mean, PhD in gender studies

[@jimroscovius]

@@kingtee94 No empathy here - they chose it, now they can own up to it like all of us with integrity did.

[@kindredkey]

Honestly, I'm about the can kicking because I keep getting closer and closer to paying off my student loans. No additional interest has been a HUGE help! Keep kicking the can please!

[@aina3387]

Same. I think I'll have enough to pay them off at the end of March without any interest since I graduated.

[@marcus3457]

Actually, that just means you as the tax payer are paying the interest. You don't feel it because you don't watch your tax dollars go out the door. Look at your pay stub and figure out how much you pay monthly. The number is nuts! All this kicking the can does is guarantee you will be paying everyone else's loan interest for them for the rest of your life. Oh, and the students still are liable for the principle. If they saved before college, they would not even have those loans. So in essence, you are paying to teach future generations to be completely irresponsible, even if you do not realize it or intend to do that. Just a thought. 😁

[@CRFF17]

@@marcus3457 Agreed. But they enjoy watching you and I’s tax dollars go to the dumb loans that they signed up for.

[@lombardo141]

You look like a Genius now. 😂 congrats

[@catfishruinedtrophycatfish7998]

The VA tuition post 911 gi bill had a cap on tuition they would pay. $18,500 out of state. I got huge discounts from schools to use it. If the student loan program followed same. It would fix the tuition price. That needs to happen. Your kid can't get 100k home loan but can get 100k student loans. That's bull!!!

[@REMZ10061985]

Dave partnering with Sofi !! Poor Sofi 😅 they are losing millions of dollars 😆😆

[@RJRussoVids]

The pause should be ended. If you borrow money you should be required to pay it back. What’s happening now is outright theft. 🤷‍♂️

[@guccithunder6136]

Taxation is outright Theft 🤷‍♂️

[@Ink30]

Facts

[@cluckieschickens]

💯

[@nov1cegamer5]

You borrowed, you pay. It is a simple as that.

[@DevRel1]

Pull up some data on why SoFi is scummy. Explain yourself. Just calling them names is kind of childish.

[@brianfuller2483]

So are all banks scummy?

[@petervanvalkenburg5551]

Come on Dave. Read the comments to your videos and let them wake you up. Just cause you made a lot of money doesn’t mean you are right about everything. Wake up!

[@theslowevo9303]

I paid off all of my student loans and I COULD NOT BE HAPPIER for the younger generation who might get these predatory loans forgiven.

[@stevegolacks8731]

Aint gonna happen dude

[@urnzwayzmoove]

Cool, I am NOT happy that people that took loans get to use my money and get them paid off.

[@tdgdbs1]

Predatory? If you buy a time share, that's your own fault; same applies to student loans.

[@theslowevo9303]

@@urnzwayzmoove and that is your opinion, ma'am. We all have them.

[@dalewetzel3029]

How is it scummy to insist that loans, student or otherwise, be repaid according to the terms agreed to? Dave Ramsey loses credibility here.

[@cammia8940]

Sofi is complaining about a lack of people wanting/needing to refinance student loans

[@boodles07]

It’s not. Ramsey is being an idiot. You borrowed the money PAY IT BACK!!

[@timothyn4699]

true. At the end of the day, sofi is a business, and people who made the loans made a promise to repay. It's not wrong to ask them to honor what they said they would it's like telling property owners they "must" or are required to not charge their tenants rent, or pause it, for years, bc "that would be nice, you want to be nice, don't you?!". Sorry dude, this is business. It's easy to sit on a high horse when it's not your money. There's a bunch of entitlement in people concerning this and "student loan forgiveness". You made the contract, take some responsibility. the real villains are the colleges for overcharging for degrees (and not providing enough real value to get a good job), students for willingly choosing to overpay and using that to get a non-worthwhile/useful degree, and banks for loaning too much money to those who were not likely to repay. to "forgive" aka charge all of us via taxes, for their mistakes, isn't solving the root of the problem. It's enabling bad lending/borrowing practices, and incentivizes banks and schools to continue to overcharge

[@jonathanchaney6140]

I own sofi stock so I want the pause to end haha

[@annahopp]

I am still waiting for Biden's retroactive mortgage forgiveness plan. 😂 Just send me the $200k I borrowed in 2007 and paid off a few years ago.

[@eli-bt4he]

So, in other words, you don't actually think it's wrong, you're just jealous you wouldn't be benefiting from it. Got it.

[@lukerider479]

@@eli-bt4he no he clearly thinks it’s wrong that’s why he made a crazy comparison about a mortgage.

[@spiritualcosmeticss]

He said “denial is not a river in Egypt”! 😂

[@vanesslifeygo]

😂😂😂😂😂😂😂

[@johnshaft628]

So, it's ok to send $100 billion of our tax money to Ukrane but, no tax money should be used to help the tax payers?🤔

[@fatimamanneh9432]

If people are smart they would use this time to pay off their student loans or at least pay them down like I did being debt free is a good feeling but instead most people are complaining ridiculous shut up

[@barnes80]

SoFi is awesome. Great interest rate on my high yield savings.

[@ramonarucker6865]

There is still fallout from the pandemic. Did Dave do a segment on all those politicians that got hundreds of thousands on PPP loans forgiven? The Marjorie Taylor Greenes who are leading a charge against student loan forgiveness. Please let me know the episode I’m waiting.

[@Steven-rp8zo]

Love listening to a salty Dave in the morning! :)

[@ericmodernel9205]

angry because deep inside he wants to come out of the closet and can't

[@michellegrovak]

Pay your debts, people.

[@porkyrabbit]

SoFi just needs to pull themselves up by their bootstraps

[@EvangelismforGod]

Lol.

[@gordonb8052]

The college students chose to take on the debt, they should pay it, they are not special. pay your debts.

[@jimmymcgill6778]

If Dave was collecting no rent because of a pause. He would be mad too.

[@Tank-vi2dv]

Congrats

[@paullebeau3589]

Exactly! Dave is no Saint he makes a ton of money off of people that are in debt. Those books aren't free.

[@waldo-ot6ul]

But he can kick the person out and get another renter

[@robertjeffery6100]

My biggest complaint is you put your signature on the loan …. Pay it yourself, you got the higher education to make more money 😝

[@misterwelfare]

Does this mean Gazelle isn’t performing that well? SoFi is giving their members more than any legacy bank. Pretty sad Dave Ramsey. You wish you were SoFi

[@jalenpadilla7744]

SoFi isn’t giving any money to anyone. They are signing people up for loans

[@ctrlaltelite7752]

This is all happening as banks are receiving bailouts haha

[@rl4923]

Why does Ramsey hate sofi?

[@han1218]

because they make most of their money from student loans. Recently they've become a bank and offering other services, including investing.

[@rl4923]

They offer much better rates than the federal govt does. If his issue is with student loans generally, that’s one thing. But it’s another thing to knock sofi generally. they offer more competitive student loan rates and usually to people with professional degrees who will pay off within 5-7 years

[@han1218]

@@rl4923 I think it's also because SoFi also markets itself as a "financial advice" company, but sells debt to them as their solutions.

[@mrmikeflo11]

I have SOFI bank and they offer better APY than the major brick and mortar banks

[@cutitr9993]

It’s a business and not a charity. College and higher education is an investment. What is different between a loan take out for education investment and some one took out a loan for a business or an investment? Shouldn’t these loans be forgiven and payment freeze as well? I am sure lots lots more individual would like their business and investment be forgiven. Well next will be mortgage and car loans???

[@WorldinRooView]

5:30 - Ramsey going ASMR in here.

[@saeedhossain6099]

this is capitalism, there are no angels. there are just winners and losers.

[@iali00]

SoFi is a good bank but this is a bad move by SoFi. They did say, it should exclude those that qualify for debt relief.

[@ca2k4191]

We love SoFi

[@adriangarza7584]

Let her speak Dave

[@Outrageousconduct]

Craziest thing I've ever heard of not paying back a loan ,causes its just like every other loan student, car ,mortgage ,

[@drlax15m]

they can’t repo on a student loan, the house and car is at least backed up by an asset

[@johnsyler8580]

Tell that to the people who have paid on it for years and the principle stayed the same or increased.

[@kaleabmengesha6167]

Hey I dont have a student loan but if I did, I don't want to pay it back!

[@ozb10]

​@@kaleabmengesha6167 then why should they give people loans then?

[@TheOriginalMrB]

I know it is his show and all, but sometimes it would be nice if she could finish a thought without interruption..

[@steve410]

You borrow you pay.

[@cookinthekitchen]

There is nothing wrong with helping students with their loans although lowering the costs on education might prove valuable in the future

[@jeremybrown-HelloJayBird]

I wonder if Dave owns any SoFi stock in any of his mutual funds…

[@amireallythatgrumpy6508]

I wonder if that's actually relevant.

[@misspapo3444]

If it’s a mutual fund he has access to Sooooo many so I’m not sure it matters

[@jeremybrown-HelloJayBird]

@@amireallythatgrumpy6508 It is relevant if Dave Ramsey is making money owning the company SoFi, the same company that he says is crooked.

[@jeremybrown-HelloJayBird]

@@misspapo3444 I am sure you can find mutual funds that don’t include financial institutions like SoFi. I am curious if Dave avoids owning mutual funds that include financial institutions that make loans. I have never heard him address it.

[@amireallythatgrumpy6508]

@@jeremybrown-HelloJayBird It would only be relevant if it was his decision to include SoFi in his mutual funds, but he is not the one making those decisions. That is done for him. Next!

[@Tslayer1966]

Why are they scummy? They are a bank like any other bank that makes loans?

[@galileykwong7017]

Dave Ramsey goes way left when I come to big bank.

[@caliopeknows844]

Papa Dave - giving the good fatherly advice the young adults needed and didn't get from their own Dads. Appreciate you sir.

[@Joetkearns1]

Let’s not forget sofi isn’t profitable yet and that could be the difference between them having to raise cash and getting to profitability

[@paxamdg2712]

I listened to the supreme court debate and it sounds like 5-4 decision against the cancellation

[@amireallythatgrumpy6508]

There is absolutely no chance of a decision before 2025.

[@ozb10]

So what banks does Ramsey use

[@sarahiwuchukwu7808]

Sofi is still the best for me

[@andrewde78]

I paid off my student loan in 2017 while on Active-duty.

[@lot2196]

End the pause. Let the kids feel the pain of what most of them voted for. Good luck buying a car as well kids!

[@j.k7005]

You definitely filed for bankruptcy Dave Ramsey and was able to start over. Meanwhile us with student loans can’t file for bankruptcy.

[@alinatamashevich3354]

Who signed for that loan? Did you read the fine print?

[@Paul-jp8zz]

You can file for bankruptcy. Your student loans wouldn't be discharged, nor should they be. The education you received can't be repossessed like most everything else you bought on debt, and don't pay for, that could be repossessed.

[@brodrickniemeier8529]

All because a tiny fraction of people in the 70's declared bankruptcy just after graduating and the banks wanted their money to be guaranteed.

[@katiejon17]

PAY YOUR EFFING STUDENT LOANS BACK! There is no reason why you can’t, except that you refuse to lower your standard of living.

[@jaymacdonnell4730]

You had three years of ZERO interest to pay it back. Get a job and stop the whining!

[@paulbjork2869]

Why call it student loan "forgiveness?" It isn't a parking ticket, misdemeanor or felony. It isn't a fine. It is something you borrowed.

[@schiftwicke]

Hey Basically I'm just not gonna pay back the loan I know.... UGH I know ..... I'm sorry!!!!!!!!!!!!!!!!!!!! It's just that I'm not gonna pay it is all HAHAHAHAHAHAHAAAHAHHAHAHAHAHA

[@TheNgp90]

I’ve used the time to pay off other debt, the pause is a good thing if your smart

[@aimeehodgin6359]

Wussification of America! Nodding! There are so many distractions being thrown in everybody's way...but the fact is....I needed this class in order to graduate. I took out the loan I signed a piece of paper that binds me to the loan! Adulting is paying off your loans!

[@timriordan9855]

SoFi is a good bank with good products. Ramsey got it wrong. Should have read up on SoFi before making such a stupid, lazy comment.

[@MB-ig6gl]

This is like bankruptcy attorneys suing because it will cause less bankruptcies. Or Repo Agents suing because less people will default on loans. Surprised the payday loan companies aren't joining this fight.