The Real Tragedy Of Waiting On Student Loan Forgiveness - Dave Ramsey Rant

[@lanemp8499]

I totally agree. But keep that same energy with corporate bailouts.

[@michaelhutchings6602]

Corporate bailouts are short term high interest loans from the state. They are not free money.

[@The_Cuban_Conservative]

I would add to that all the money that has been sent to Ukraine

[@cutehumor]

I want my mortgage to be bailed out by the taxpayers too

[@handleyobusiness]

Banks and corporations are producers. There’s zero benefit to bail out consumers.

[@raulmunoz9735]

@@handleyobusiness so what? They still make bad decisions.

[@PrimericanIdol]

This aged AMAZINGLY well.

[@jakefranchise7463]

I know right?

[@brad885]

Student loans should be illegal. Parents, teachers, and councilors pressure the students into taking them so "they can have a better future". 18 year olds imho aren't financially literate enough to sign for $50-100k of debt. That's what happened to me. I'm paying them down, but if $20k is forgiven, I will take it. it's a bad decision that I didn't know was bad at the time. If you are going to forgive them, stop guaranteeing them in the same bill. They're a plague on our younger generations and setting them up for poverty.

[@tduck828]

Or maybe take responsibility and you should have understood what you were signing before you signed? Not just blindly taking money. The whole system needs an overhaul for sure. The interest is insane!

[@peteranon8455]

Loans shouldn't be federally backed, so the risks should be mitigated by people's ability to default on those loans.

[@jenniferwiilis5267]

I think if ur going to school to please ur parents then they should pay for it secondly Society should start valuing all professions and not degrading people who didn’t go to universities so that people won’t feel pressured into getting these outrageous loans just to say they went to school

[@johnlanier3616]

When I was 18 I moved out of my parents home. Being 18 is not a excuse to make dumb financial decisions

[@hastycontemplation]

@@johnlanier3616 When I was 18 I knew not to take a student loan.

[@doreenregan3070]

Why did we bail out the banks then?

[@doyino3176]

Because it's easy for Dave Ramsey to talk about others not spending money and saving and never taking a loan, when he came from money and never needed them

[@bmbott123]

Because they employ and produce

[@doyino3176]

@@bmbott123 Many people lost their jobs, some savings, and retirements. They employ and produce what exactly? That money could have been given to the people and not the banks. Arguably if some people didn't have student loans they would be able to open their own businesses and employ and produce. Ramsey sure was able to with his not having debt.

[@pep590]

Apples to Oranges!!! Wow.

[@IWantToMature85]

​@doyino3176 he didn't come form money. He went bankrupt.

[@bobmarker6812]

A lot of these are nothing more than predatory loans. It's funny how bank home loans are called predatory but student loans aren't.

[@tlgmc1908]

Honestly some of them I see people have remind me of option ARMs back in the day. They are now illegal, but basically the minimum payment is less than the interest so the balance increased while people made payments, I see the see the same with a lot of student loans. If they would regulate them as much as mortgages we would not have this problem

[@AyeJye]

Exactly!!! Now that they have the zero interest for right now… this is the best time to pay off those loans or pay it down !!! This zero interest is the BIGGEST blessing that we are going to get….hurry up and pay them down before they apply the interest rates back on there

[@AyeJye]

@Lucas Levon get your money up

[@elliotmyers9071]

@@CelonixCleaningServicesLLC key word in your statement “if”. You obviously didn’t listen to what the whole video clip was about. The concept or mindset was to be independent to guarantee a lifestyle for yourself in the future. Waiting on certain conditions wasn’t part of being a millionaire aka “financial free.” Get rich fast; lose money fast. Learn to build patience and diligence.

[@potatopilot16]

@@CelonixCleaningServicesLLChow’s that “loan forgiveness” working out🤦🤦🤦

[@jeffswoyer9898]

What bothers me is that in 20/30 years, there will be a group of people that didn't save for their retirement, and, once again, we will be going through this whole issue of "you (the taxpayer) owe me a standard of living and if it means that I take from you to do it, then, so be it" And, we will have to demonize those people who did save, sacrifice, plan.

[@6663000]

If you take out a loan, you must repay it... if that ever turns out not to be the case, then society crumbles.

[@CC-br9qg]

the real elephant in the room.... so much wrong here.

[@alexpader7342]

You will feel great when you pay back your PPP loan! 😂😂😂

[@evilshadow8761]

I’m not sure if you know this, but the PPP was for smaller businesses to keep functioning while the pandemic limited office sizes. They were forgiven if the employer hired either their former employees that were furloughed or employees of equal pay. Essentially, it was a way to help not only businesses, but their employees as well. I know but I’m the accountant for a business that took that loan and got it forgiven.

[@imaginableAudio]

I'll be the bad guy here. I say, work hard and charge yourself the fee you would pay for your loan, set that aside as a monthly fee. Don't touch it. Hold off until they announce if they are going to pay it or not. If they pay it, great now you don't have to. If they don't pay it, use the money you've set aside and be ready to pay. Either way, keep working hard as if your life depended on it and think they aren't going to pay it. Some of you may not like my advice, and it's fine. The craziest thing here is that the United States of America is called United, but no one here is united. It's every man for himself. So I already know you guys will try to put me on a cross and crucify me for giving this advice, but I'm going to do it anyway.

[@melzerzvlogz6027]

I agree. There is still a small chance. Might as well store it in case it does go through.

[@dbolzle]

Everyone hates on student loan forgiveness but loves corporate bailouts and bloated wasteful military spending. Its insanity.

[@Moriningland]

That’s wise advice. That’s what I’m doing. Got 40k saved on a 40k student loan

[@muzikjay]

This is the exact right answer.

[@dexterellis7973]

That makes perfect sense to me, and that's exactly how I'm looking at this situation 👍🏿

[@robedmund9948]

Waiting for a politician to save you and keep his promise is like seeing a shooting star and waiting for it to land in your lap.

[@mastamatsta]

Let me start by saying I love Dave and his material even though I don’t agree with 100% of it and this is the worst I have seen. What I would say is keep it as part of the snowball but just set the cash aside, the instant the judgement is made in the Supreme Court that it isn’t going to be forgiven pay it off, if they end up paying it put that money towards your snowball. To say there is a morality issue with someone taking advantage of something the govt is providing but not pointing the finger at corp bailouts, under spending on municipal needs (schools, FD, PD, etc), over spending on things that don’t directly effect the American populous, and the litany of other govt miss spending is a joke. I have $10k sitting in a special savings account right now and as soon as they say they aren’t paying my debt will be paid, but if they do pay it so be it.

[@drewmantia]

I'm in the same spot. sitting with the money, waiting for the news to drop

[@yvonnelee4385]

The government isn’t providing anything, taxpayers are. I’m not disagreeing with the crux of your point but we need to use accurate language. Government doesn’t provide jack shit 😂

[@flygirl2447]

What the government provides it has taken from a taxpayer.

[@eatenvegan1565]

I never believed they would pay student loans.

[@cabayern9416]

I know several teachers who had full amounts paid.

[@pep590]

@@cabayern9416 That's a total different program. That is not free loan forgiveness as to what they did. They earned it.

[@cabayern9416]

@@pep590 absolutely! I know several people who have served the public, over 20 years and had their loans forgiven through PSLF.

[@pep590]

@@cabayern9416 Good for them, my friend. That's good to here that it worked out for their sacrifice.

[@leagueofotters2774]

@@cabayern9416 That's how mine was discharged....PSLF working for a public institution.

[@heloo2268]

"The type of person who says I signed for those loans and I have an integrity issue with not paying back money I owe" -Dave Ramsey (says the person that filed for bankruptcy)

[@amireallythatgrumpy6508]

Where Dave's integrity is lacking is not that he filed bankruptcy (because he didn't), it's that he lied about it. The whole bankruptcy story is *clearly* BS.

[@depaduser1]

I mean what i would do is just put the same amount that we were going to pay on the loans in a separate savings account each pay period and if they decide to delete the debt then great put that money in your main savings account but if they don’t, dump it all on your student loans as soon as they resume 🤷🏾‍♂️ WIN WIN situation

[@bengrassi854]

I guess Dave doesn't have to go on air and say he was wrong. I guess Dave was right the past 3 years on this.

[@Mavryck_Tha_Myghty]

I’ve seen him come on and own being wrong before. This one, he nailed.

[@katieg7679]

The real tragedy is that even if the initiative passes, it doesn't solve the actual issue that the cost of education is unreasonable and the entrance to most careers nowadays is through education.

[@kbanghart]

This first part of your statement I agree with, but there's nothing wrong with getting a career through education.

[@williambeyer5095]

People will make $900 Car payments and $200 a month for a cell phone. But wait on a lie about their student loans being paid.

[@adamr.kalucki4347]

I’m a republican and we love hard cash!

[@15KHPCLUB]

I remember being told as a teenager not to take out a loan for a Shelby GT500 (My dream car at that age) But encouraged to take out a student loan for the same amount of money 🤦‍♂️

[@mattludt5246]

Why not take the payment and put it into something that will grow that money? Why put it towards the loan right now? It costs literally nothing to not make loan payments right now.

[@firstnamelastname3558]

Exactly! It’s nothing more than a campaign lie. Voters bought into it hook, line, and sinker.

[@DG-kj6yb]

Never heard of a $900 car payment

[@anthonylevicky8142]

Imagine if Student Loans didn't exist. The amount of people that would need FPU would drop dramatically.

[@midkort]

That would be fine. It would mean people are in a better position - so good.

[@kindredkey]

It doesn't have to be the husband's way or the wife's way. Put the loans in the snowball like you were planning to do. Instead of applying the payments to the loan provider, put that money to the side for when the student loan forgiveness all blows over. OR skip those loans and put the money to the other debt that you have and add the student loans in once all the student loan stuff settles. OR just pay them off. I don't see fault in any direction as long and they end up debt free at the end of the day. I'm not really sure why this is a big deal for them if they have enough other debt to take care of. Wondering if the wife just wants to be "right".

[@bridgettorress8521]

This!

[@andrej7941]

I've heard people make the exact opposite argument referring to legal tax deductions and such for the wealthy and investors

[@libertarian4323]

Tax deductions allow peoplevto keep more ofbtheir own money, they aren't handouts paid for by taxpayers.

[@santos4139]

Save the money that you owe on a high yield interest bank and once the pause is over pay them off 🤔

[@Andster2]

See, here's a smart answer and no "take control of your life" fluff. Make the money work!

[@lucybell1487]

Thanks Jade and Dave.I believe in having a firm foundation in knowing the blessing of work. I want med a bachelor's degree and more but could not afford the schooling until age 58. In the meantime I could afford a certificate program and associate degree for earnings of a livlihood.😊

[@jeanqbxx]

The entitlement mentally is sickening.

[@MCPlatinum-MCP829]

I'm an active duty soldier, and it makes me so upset to see people borrowing money and getting it forgiven while i'm out here working my butt off to get my college paid for. We shouldn't reward lazy people.

[@bojassem12]

Shouldn't have to sell your body and soul for college education...

[@lukedupree962]

Mercenary mentality

[@potatopilot16]

@@bojassem12you don’t have to though

[@COMMANDRofAWESUM]

You should pay your loan down to exactly $10k. You should have the $10k saved in a savings account earning interest. The second they announce that it’s not really happening, pay it off … but telling people to pay when they don’t have to and might not need to when they can simply wait and earn a return on the money they’d use is asinine. At this point it’s just schtick by Dave and Team. They know what they are telling people to do makes no sense but they refuse to budge on their hardline rules even though they make no sense given the unique circumstances.

[@bridgettorress8521]

Exactly!

[@gdot9046]

This

[@michaelschwer5622]

So I had right at 10k left when this all happened. As soon as they came out and said we are gonna have to wait and see I paid it off. I have the peace of mind I don’t owe anything else and I get to fully fund my IRA. Waiting is stupid It’s not going to be forgiven it’s just not

[@jdtreharne]

They're never going to announce that. Just pay your bills.

[@Cypressbayou]

Good advice, Dave. You da man!

[@barrettsimmons8214]

PSLF and only two years to go! Can’t wait to take that forgiveness!

[@pep590]

You've earned it, not this pay for votes forgiveness being thrown out there.

[@vivalabad6]

I'm glad I went to a cheap school, I paid most of mine off early but waited to see if the final $6k of my loan would be forgiven (didn't have high hopes because government = liars but..) I just paid the final balance this month! I think student loans are a good and a bad thing. Its the cost of the education that's the problem, and people want to go to expensive schools because they are status items, so just boycott expensive schools. Of course, a lot of universities and schools have highly advanced research labs and equipment, so we may get slower in that department unless they can secure funding from the government to do those projects...rather than relying on tuition. Its a domino effect, obviously, as all things are.

[@arifozdemir406]

Definitely start paying again before the court case is over, but call your current provider and see if your loans got moved to another provider and wait for the new account to process, I called and mine did.

[@salv02]

Somebody should cut a video of this but instead replace caller with every venture capitalist from silicone valley who asked for a bailout for their deposits higher than 250000

[@eggsinsideme]

But the SVB venture capitalists pad the pockets of politicians. They get free money. We don’t.

[@thelovelykimmi7920]

Didn’t Dave file bankruptcy and got PPP too? Neither side of the coin is fair to all

[@Rashaadthegr8]

Umm bankruptcy decades ago. Ppp? Never. He has many videos saying don't take the money.

[@georgewagner7787]

Did he pay the creditors after he got back on his feet?

[@judygilbert9628]

@@georgewagner7787 yes

[@amireallythatgrumpy6508]

He REFUSED the PPP loans. Also the whole bankruptcy story is not true.

[@Rashaadthegr8]

@@amireallythatgrumpy6508 He did file at 26 he also talks about that on his show that s why he invented the baby steps.

[@skateata1]

I work in financial aid and I kept telling people this would not happen.

[@nathangallagher5112]

I say just create a new high yield savings account and put the $14k in there as you go through the debt snowball. That way if all this doesn't pass you can pull the trigger right away, yet still have all your money if it doesn't pass. This amount of money represents possibly a year of your life ... there's no use just throwing it away.

[@alperdonmez7606]

This is the correct answer

[@peternorthrup6274]

Never ever cosign a loan for anyone.

[@steelcastle5616]

We've been co-signing for family members needing student loans to go to college. We paid ours and our children paid their own loans in full without issue. Listening to this show, you can get the idea that consigning and student loans are bad. Many more people pay their loans back than don't (not all are seeking or need help to pay the loans back).

[@FrankS111]

If you thought you were going to make six figures right out of college with your arts degree that cost you $100k+ I don’t feel any sympathy for you. Like the old saying goes “a fool and his money will soon part ways”

[@tduck828]

They only owe $14k though. That should be simple and fast to pay!

[@misscofia]

Why not go after the actual colleges that are offering these type of degrees? We always harp on the student who gets the degree but never hold the actual colleges and universities accountable for supplying degrees that are worthless!

[@brad885]

@@misscofia why not stop perpetuating the lie that college is necessary to make a living wage? That lie has been sold to multiple generations while the cost of college triples. Why not just make it impossible for students to qualify with no job and no income at 18 for a loan that isn't dischargeable unless you die? We are dooming future generations into poverty.

[@mattschmitt9924]

​@@misscofia Not a bad take on it. Unfortunately, an adult signed a legal contract to enter the agreement and borrow the money for the worthless degree. The college did nothing legally wrong.

[@RedShortsPolitics]

I agree with the dignity aspect and unfairness of the situation, but financially it makes sense to wait and see what Sleepy Joe does. If everyone else gets 10-20k off, why not you? I don’t even have student loans.

[@adamr.kalucki4347]

Sleepy doesn’t even know what year it is

[@-Wreckanize-]

People wanting student loan forgiveness then complaining when college prices skyrocket even higher. No different than people wanting to lock down causing a supply shortage then stimulus which made inflation worse.

[@mike125520002000]

Pslf student loans are being forgiven. So it’s not if they are being forgiven. You just have to meet the requirements to have your loans forgiven.

[@matasham]

Exactly 💯. I.think they need to clarify if it's PSLF or the program that's halted due to lawsuits.

[@phillipsouthard8285]

Someone who filed for bankruptcy to get relief from debt he owed and probably takes huge tax breaks that end up being covered by the middle class probably shouldn't be giving a speech on the morality of paying back debts. His grounds to argue morality is shakier than the grounds for the student loan forgiveness.

[@amireallythatgrumpy6508]

You actually believe the bankruptcy story? Gullible much?

[@phillipsouthard8285]

@@amireallythatgrumpy6508 you mean the story that Dave Ramsey has told about himself a million times? He’s open about that time in his life.

[@amireallythatgrumpy6508]

@@phillipsouthard8285 Yes, the perfect business origin story when you want people to think you know how it feels to struggle financially and that you can relate to their struggles. The story is too perfect. It didn't happen.

[@phillipsouthard8285]

@@amireallythatgrumpy6508 ah, so Dave Ramsey is a liar? If that’s your take on it, then so be it.

[@amireallythatgrumpy6508]

@@phillipsouthard8285 Well, he is American. Lying is all people do in that country.

[@bluejedi723]

don't wait to pay the student loans. Just.....pay them.

[@lukecarlson6863]

Why? It mathematically makes no sense. I can make $500 by keeping that in a high interest savings account until the date. And it's possible it could happen

[@bluejedi723]

@@lukecarlson6863 so, put $500 in a high interest savings account and pay off the student loans.

[@SeunAdekoya]

@@lukecarlson6863 that’s what I’m doing and wish I did it sooner.

[@LaMuffin-il7ei]

@@lukecarlson6863 I thought there were any high interest savings account anymore…any tips??

[@stevenporter863]

​​@@lukecarlson6863 I think he means pretending nothing is in the works and pay yourself into a bank account - like you are doing. No matter what happens you are covered. Worst case you have the cash to pay them off or you have a pile of cash.

[@nickidrew5113]

And honestly the government does owe us. They work for us, not the other way around!

[@dougb8207]

My fear is, some took that money and bought cars with it or something, thinking they wouldn't have to pay the money back. They're going to be in even worse shape than when the silliness started.

[@lovethemflowers]

That’s why I assumed student loans were for SCHOOL related expenses. I never got a student loan. That students can use the money for a spring break trip or a car is nuts.

[@elicastle93]

Totally agree with you on that although I think they made huge purchases like buying a house so I think next year we may see a rise in foreclosures. I could be wrong though?

[@FIRE_GOD_S]

​@@elicastle93 You wouldn't be able to buy a house without showing consistent income. Student loans can't buy houses.

[@kelligreer3975]

YES, a girl I know traveled to Hawaii on her student loan money. And shocker....she never worked either. Spent decades trying to get on disability. It worked after 20+ years.

[@kandiekennedy9182]

​@@kelligreer3975 that's a criminal....not a student

[@user-zg2zb1vg4u]

If loan forgiveness goes through sometime in the future, there would probably be a lot of hoops you would have to jump through, might not qualify, or might not be worth your time, for what little benefits you receive, trying to say it may not be 100% loan forgiveness, might end up causing more problems then benefit

[@stevenporter863]

If it happens the compromise may be a small percentage (not all) and forgiveness being taxable income.

[@millennial_thinker]

Okay, $14k, I thought it was going to be a lot higher. I won't say how much we had but I'll just say it was six figures and we are paying them off, on one income.

[@cabayern9416]

PSLF is alive and well.

[@missj4085]

I have a strong problem with the way Dave is saying "integrity issue" about paying them off. These student loans company play us for every nickel and dime they can get from us, give out terrible interest rates but we clearly have "integrity issues" for not wanting to pay them back or waiting to receive help for pay them? As far as I'm concern my energy is matching theirs. They didn't have any " integrity issues" scamming us but now I'm supposed to feel bad for wanting help paying them back?

[@lukedupree962]

This

[@jd2983]

In my part of Canada, political yakking about student loan forgiveness was a thing in the mid 2000s. Never happened; glad I paid off mine when I did.

[@JewelBlueIbanez]

We do have student loan forgiveness in Canada. It’s through RAP. If you can’t pay them off after 10 years of RAP, they write them off.

[@peteranon8455]

If they forgive others' student loans, then I want to be paid back for the loans I paid off.

[@robloxvids2233]

This is why they can't do it. There will be a gigantic class-action lawsuit against the gubmint from every single person who already paid it off.

[@amydoran9987]

Thank you so much for saying this. I payed off my loans years ago. I want my money back for at least a portion of my loans.

[@mattschmitt9924]

I knew I couldn't afford college and was smart enough to not take out a huge loan. I went into the workforce. I would also like a check for my truck and tools. Let's be honest, I added way more value to society than most college graduates by actually working.

[@lovethemflowers]

My response was to Peter Anon.

[@handleyobusiness]

@@CelonixCleaningServicesLLC Bull $hit. I want my $40k that I paid back.

[@IrishMexican]

These so called millionaire studies that Dave is claiming are surveys, not studies. I would like to know how much randomness and representativeness exists in these “studies.” Having millionaire teachers calling in to explain “how they did it,” does not represent the teaching population as a whole.

[@hanschristianbrando5588]

The real real tragedy is a country of overaged children waiting and expecting to be saved from themselves, the future leaders unable to handle adult responsibility. Incidentally, there's a slight difference between corporate bailouts (many of which admittedly are questionable, but two wrongs don't make a right) and college students expecting a free ride because they actually think they made the world a better place by getting a degree in Pop Culture Studies.

[@markmurrell1894]

That whole San Francisco reparations thing just drives me nuts.

[@trebmaster]

100%! People don't even realize!

[@LyonsArcade]

If you owe the money, pay the money it's not that complex

[@doyino3176]

@@CelonixCleaningServicesLLC To add to that, Billionaite and the wealthy's tax dodges. Why are they looking for tax loopholes? Just pay what you owe right?! /s

[@littlebob1261]

Like Dave when he claimed bankruptcy?

[@bobbylopez9681]

If you could be wrong you might as well wait and see what happens.

[@Apache32D]

I got my college paid for by the gov .. GI Bill is out there

[@jackstar254]

Yeah, yeah, yeah. Student loan forgiveness is unfair but PPE loan is fine.

[@arh1234]

He was against the PPP

[@amireallythatgrumpy6508]

Personal Protective Equipment loans? What an idiot.

[@libertarian4323]

Justifying one bad program by pointing to another, is illogical.

[@jimmymcgill6778]

Even though it won't become law. What is wrong with taking advantage of it if it does?

[@fauxbro1983]

It's not happening bro. U hear the audio from the Supreme Court hearing? Biden's lawyers got smoked. Rightfully so

[@jimmymcgill6778]

@@fauxbro1983 I said it won't. It was just hypothetical.

[@Tank-vi2dv]

Everything

[@citygurrrl6387]

if YOU borrow money, YOU pay it back. why should people pay back any loans, by your train of thought

[@thejakelegion]

Because you're taking advantage of American taxpayers, that's why. Pay your own bills. I didn't borrow the money, I shouldn't have to pay it off for you or anyone else.

[@AcidicMentality]

In reality what will happen is that the debt pause will end and they will back-add all of the interest.

[@sweetiespoon5150]

If that happens, I will likely die from laughter.

[@PInk77W1]

I have no student loans. Never have. If I did, I would’ve worked like a maniac to pay it off during the no interest grace period. Such a golden opportunity.

[@matthewgood7217]

Until you paid it off and they forgive it. Then you’re a fool

[@PInk77W1]

@@matthewgood7217 not even close.

[@firstnamelastname3558]

Agree. Pay it while there’s no interest accruing on the loan.

[@ricardovelez3796]

Probably you would have read the contract before going to school and read the line explaining the types of loan forgiveness already included in the loan application packet. Once you saw that you would probably not thought twice as it calculates your total forgives prior to even getting the loan. It’s called the master promissory note. Check it out…

[@Jaemastercho]

I don’t agree you have time to accumulate the money to pay off the debt. Don’t pay it right away just wait for the decision and if worse case happen you have the money accumulated to help pay all of it off. Makes no sense to pay it off early while it’s frozen.

[@dnah02]

Pay them bills folks

[@dnah02]

@@CelonixCleaningServicesLLC them folks too all getting that smoke.

[@dnah02]

@@CelonixCleaningServicesLLC I keep it the same for both. I don't want to foot their bills. If I was into that I go play step daddy lol

[@CyrusOfNaias]

Nobody owes Interest.

[@jamd1jones79]

Do you get angry about the free lunch and the PPP loans

[@anthonys.8569]

How bout bailing out Wall Street? No free lunch? Guess there actually is when you're already the elite.

[@reempire888]

Can't believe many fell for Bidens bs

[@spidermankool2]

I mean wouldn't it be more wise to set aside all the payments you would otherwise make towards your student loan debt into a separate savings account until the gov makes the final decision? Interest is paused right now so your balance won't be increasing. If it turns out they don't forgive, boom just make a lump payment, if it turns out they do then you now have a great savings account started. Why would Ramsey not advise this?

[@vlarrazabal7020]

Stash those payments away or if you have the full amount in cash ready to payoff, keep that in a separate account. If they forgive, great keep the money and move on. If they don’t, pay off in full or use the stack of payments you put away during the time and lump sum pay. Don’t pre-pay.

[@Ria24Ria]

I payed off all my student loans in 2020 when there was no interest. But I qualified for $2500 back because that’s how much I payed during the 2020 pause. So I got a check back for $2500 so I am keeping that aside until there is a ruling about this student loan forgiveness. The problem I am having is because I totally paid of my student loans in full in 2020 my account was closed. Now if I have to give back the $2500 I don’t know who to give it too! I heard the fedloan got bought out by who??? I don’t know what to do ?

[@Alicia-jg7is]

Ignore the check and throw it away pretend you never got it

[@Ria24Ria]

@@Alicia-jg7is it’s already in my bank account

[@dillondittemore1102]

I one of the 51% of Americans that actually pays federal income tax. Actually robbed. So I’m taking my 10k if they give it.

[@garynkidd]

I'm a special case. I had 7k in loans , paid it. Was approved for forgiveness applied for a refund got it back. Now I have 7k I can't touch or invest until June 30th.

[@nickidrew5113]

I work for the feds so I’m going to have my loans forgiven after so long. Meanwhile I’m paying all my other debt off first. Student loans will be last on my list since it’s my largest debt

[@joeriveracomedy]

No free lunch? Same girl who told men to continue buy fancy dinners for their dates?

[@Dflonn]

I agree with the principle, but their statistical analysis of who would get forgiveness and who would pay for it is mostly wrong.

[@brandonwhite958]

Very reasonable take and I completely agree with it all. However, they should have addressed Kristy’s question in more detail. She wanted to know if they should hold off on paying their loans and Dave never explicitly stated his answer, rather said that the Biden admin won’t be successful with their forgiveness plan eluding that they should just pay off now. With that I slightly disagree because there was (not anymore) a very very slim change there could have been some forgiveness. Despite the forgiveness being warranted, it is financially responsible for someone to make a decision on paying off their debt when they have a clear understanding on whether or not there would be forgiveness.

[@AccordingtoNicole]

The government never helped him? What about when he declared bankruptcy, had all his debt wiped out and was given the chance to start fresh? That wasn't the government, it was god, right?! LMAO

[@in-textbaptist4947]

Is Dave like being paid by loan servicers to keep talking about this? How many videos is he gonna release on this topic?

[@cuh720]

If Ukraine was asking for student loan relief then they would get it smh

[@eurekahope5310]

How about we bail out neither?

[@bmbott123]

@@eurekahope5310 exactly

[@firstnamelastname3558]

We’ve sent over $100 billion to Ukraine.

[@wolfofbricks]

It's an integrity issue says the guy who filed bankruptcy so he could get out of paying loans.

[@2daFull]

I think he has filed twice lol 😆

[@marcuswashington461]

Great point!!!

[@jackdaniels5134]

Integrity doesn't apply to his business loans, only student loans. 🙃

[@citygurrrl6387]

why do you watch him then?...

[@Amberjane2011]

Ya because no one has made mistakes and learned from them.

[@georgewagner7787]

My dad graduated high school in 1944. He was hoping to enter the military so that he could get his college paid for but the war ended. So he lived home for two more years and worked full-time and probably plus. He saved his money and went to college. This is the model we should go back to. The young people are going to college very immature anyway.

[@michaelcrowley9008]

Taking that situation as a possibility is ignorance to not recognize the difference between 40 years ago and now.

[@spidermankool2]

Your dad probs bought bread for a nickel too.....something to aspire to....

[@genxx2724]

The problem is that college costs have risen faster than the rate of inflation. Research laboratories, stadiums, and even rock climbing walls in the student union have to be paid for. College is a resort nowadays, don’t you know.

[@doyino3176]

My SO's father literally paid for his college through the INTEREST he got on just the student loan being in the bank. THis was in the 80s. Me coming out of high school at 17 would take forever to save for my 4-year college at minimum wage lol. it's a diff time dude.

[@jonathanfoster2263]

I never understood not going to town on the student debt while the interest is paused. you can pay %100 to the principal? why would you not capitalize on that?

[@osielrodriguez7572]

People were too baked from the free money during the pandemic.

[@tduck828]

People are dumb.

[@damp_squid]

Umm... opportunity cost maybe? Put your 'payment' into an interest bearing account every month. When and if the pause ends, take all your payments plus your earned interest and pay into the loan.

[@ppumpkin3282]

My son wants to go back to an expensive graduate school. Someone I can help feeling in the back of my mind that he thinks the loan will be forgiven some day.

[@danielshaffer2609]

The Ramsey network has gotten Public Service Loan forgiveness incorrect. You need to make 120 qualifying payments to get the forgiveness, which means you can still pay the things off early, but you don't have to pay off the whole balance.

[@amireallythatgrumpy6508]

So you can make 120 smallish payments, but if you make one large payment worth more than those 120 small payments combined you don't qualify? That's dumber than a rock.

[@matasham]

@Am I really THAT grumpy?? No, there are different loan payment options. You can pay your full payment for 120 months = 10 years, then the balance is forgiven. Or you can pay based on your income for 10 years and the balance is forgiven after 120 qualifying payments. This is for PSLF due to working for a non-profit

[@spicboy12390]

Lol I have a friend who’s banking on PSLF has been in the workforce for 5 or so years and still hasn’t paid a dime. I told her she still needs to pay Atleast 120 payments, but then again this is the same person who doesn’t pay her taxes either smh. Stupid ppl man

[@OopThereItIs77777]

When she said “I meannnnn…” I LOL’d. She believes it too. They just wanna an easy way out, like no. That’s not how this works. Pay what you owe.

[@kingarchnyc]

This is y I was never a big fan of student loan forgiveness

[@kahledalbert1210]

PPP was a 800 billion dollar “source of prosperity” by the government. Love how only when it benefits the rich do rich people not get in the way of. Student loan debt wouldn’t help anyone who has money like PPP did.

[@austinedwards9385]

If payments are still halted, there is no inventive to pay especially since its still technically on the table. Kind of bad advice until payments resume

[@LittleMopeHead]

Dave is not angry enough in this video 😄

[@weAllCin]

All $45k of mine got forgiven and now im officially debt freeeeeeeee 🎉🙌🏻🤷🏻‍♂️ Glad I waited before paying it off 😩😩😩

[@evanbennis2155]

This is the first video of Dave’s I’ve seen that feels politicized. Go scrutinize every other political policy that uses tax dollars. We are paying for so many things that aren’t up to us. I am putting away money in a HYSA to pay off my loans the day they are due if there is no forgiveness. But it is foolish to pay them off if there is any chance I will have 10k forgiven. And there is a deadline for when this will be decided

[@JoeyNYSDnomad]

I'm amazed people are still falling for this.

[@ghostingwhileblack]

Dave Ramsey was on point but y'all don't like that because hes an old Christian boomer. Sorry he is still right

[@aolvaar8792]

I went to a #1 University, Process Engineering B.S. An Alumnus offered to pay for my education. There are FREE lunches, I used to get them at grade school.

[@zachrolf1454]

This is a great episode! Thank you both for the care you gave this answer.

[@mattludt5246]

The "answer" had nothing to do with the question.

[@maddogstaydownpunk8005]

I'm not saying that Ramsey and staff are bad people..... I would continue to save until we get a yes or no.

[@richprokop5155]

The Supreme Court will decide by June 30.... WAIT....

[@amireallythatgrumpy6508]

No chance of a decision before 2025.

[@melanieabbondandolo481]

Pay off everything up to the $10,000 and continue to save money into an account so when the debt is due it can be paid. Morally there is barely any morality in the world. Look how many citizens are receiving handouts including corporate bail outs during the pandemics.

[@Arthur-hg7ny]

00:46 they’re doing it. 800000 people got $39B of relief. More coming.

[@amireallythatgrumpy6508]

Sill essentially nothing. Get back to me when it's 10M.

[@Arthur-hg7ny]

@@amireallythatgrumpy6508 tell almost a 1M people it’s nothing. 1M just won the lottery

[@amireallythatgrumpy6508]

In a country the size of America, 1 M people is nobody. It's only about 2% of student loan borrowers...@@Arthur-hg7ny

[@SpoonHurler]

If somehow the forgiveness happens you will more likely be able to get repayment... Paying now basically hedges your bets. But there is no chance this version of forgiveness happens.

[@kbanghart]

I love how Dave panders SO much to his Republican followers, that he talks to them as if people cannot pay their own way, AND hope for student loan forgiveness at the same time.

[@lovingmenaturally22]

I have had classmates as well as family members who have taken whatever amount they have been approved for in student loans ($10k to $20k) with no intentions to ever pay them back. It was just basically free money to them even if they didn't plan to finish school and get a degree.

[@eurekahope5310]

Agreed. I was shocked to hear people used them to buy cars. So, no, I don't want to pay off people's car loans.

[@lovingmenaturally22]

@Eureka Hope Exactly!! Cars, clothes, shopping sprees, etc. When I accepted my student loans, I calculated what I needed to pay for tuition and books and rejected the rest because I accepted and knew that I was going to pay them back, but I knew a lot of other people who did not think that way nor planned to pay them back.

[@lovingmenaturally22]

@Philip Erdman True but it doesn't make situations better within the U.S., it just makes people more and more dependent on handouts and easy fixes.

[@lovingmenaturally22]

@Philip Erdman True but it doesn't make situations better within the U.S., it just makes people more and more dependent on handouts and easy fixes.

[@genxx2724]

@@eurekahope5310 How about spring break debauchery at Cancun resorts. We shouldn’t have to pay for Girls Gone Wild.