No interest helped me because I have still paid every month and got my balance down. All payments went to principle.

@monica1811

9 ай бұрын

Awesome.

If you smoke cigarettes quit. If you go out to the bar and drink buy a 6 pack and stay home. If you go out every day to eat pack a lunch and stay home and cook more. Less trips to the casino. Stop paying $400.00 for sneakers. Before you know it you will get that student loan all payed off. Not always how much you make but what you do with it. You borrowed it you pay it back yourself.

@sourdough2078

10 ай бұрын

You're very correct. I'll share my good news with you, paid off $12,000 of cc debt in 8 months today. I don't make much money but have paid every extra penny to it. I'm so relieved and it's very possible.

The US Govt. should never be in the student loan business.

@tbree8417

11 ай бұрын

Every veteran from ww2 got free collage , or trade school if they were black. Seemed to work out very well for them and the economy. Look up the stats !

@dougdavis7171

10 ай бұрын

​@@tbree8417 I paid for my degree with two tours in Vietnam. It's still available but you can get up to $50K signup bonuse if you join my old unit. You don't have to be black.

@user-hc7um8eo8t

10 ай бұрын

You're right, State College should be free!

@ThatGuyOnYoutube2

5 ай бұрын

@@tbree8417 not even close to relevant to the original post topic

I paid off my car, my private student loans and got more certificate for my education. I just wish the house market to cool off enough.

U couldn't be more right. I'm certain that some people have spent that money on other things. All I'd ask is for you (Dave Ramsey and panel) to keep that same energy when it comes to bailouts (banks and other big business). I've been watching you for years now and I can absolutely say that you don't have the same level of scrutiny when it's Big Business getting a huge bailout. You love to rail on the federal govt but when it comes to bailouts (people vs business) there is clearly a difference.

@DavidHowe-nv1nb

Жыл бұрын

Their whole entire brand is about getting individuals out of student and credit card debt. You can shut up with the preachyness.

@harrisonwintergreen1147

Жыл бұрын

Dave bashed the PPP loans. Dave bashed the 2008 bailouts

@Ira06002

Жыл бұрын

With all due respect bailing out banks, auto industry, etc is very different in it’s complexities to its impact on the global economy. Very different. I’m not saying there’s no ethical issues with bailing out big business (I.e., TARP), but it’s apples vs oranges here.

@jennifernelson6187

Жыл бұрын

Absolutely. He has no qualms about criticizing the spending habits of every day Americans but won't say any thing about the bail outs for big lending institutions

The average student loan payment is NOT $480. The Ed estimates that payments are between $300 to $400 a month. Also, not everyone spent their money poorly during the pause. I managed to save up my entire balance and I will pay it off next month. This is mere anecdotal evidence. We will see what happens come October 1st, when the first payments come due.

@flmcrw

Жыл бұрын

I continued to pay my loans while I was employed. Took thousands off my balance. Not everyone wasted this opportunity and it’s unfair for them to lump us all together as being irresponsible.

@Emrson1280

Жыл бұрын

I’m pretty sure buying a house or a car is not spending your money poorly my guess is millions and millions of people will tell the American government to get bent and unfortunately there’s nothing they can do about it. Good luck trying to sue millions of people.

@privateobvious655

11 ай бұрын

The government doesn’t have to sue to garnish your paycheck.

@Yayakoshii1990

11 ай бұрын

Mine is 500/Month…

@terrencemcphail5782

11 ай бұрын

ur opinion not facts

We got our student loan debt relief folks in the form of no interest for over 3 years! I saved nearly $5,000 in interest I would've had to pay, but luckily took advantage of this moratorium and paid them off and am debt free. They're just pissed cause it didn't come off the top but hey, too bad, pay up, I did and so did countless others.

Why should blue collar tax payers that didn't go to college, pay for your education? I'm a house painter.

@JeanValjean875

Жыл бұрын

That's not really how marginal, progressive tax rates work. The rich pay for the bulk of the program.

@highbrass3749

Жыл бұрын

@@JeanValjean875you’re not accounting for inflation. They just explained in this video what people do with that money when they don’t have to pay their debts. The prices go up for everyone, including the working poor.

@syban779

Жыл бұрын

​@@highbrass3749yes and no. Yes everyone pay a bit more, but poor still have small brackets with maximums. They don't pay much, but they are the principal beneficiary.

@JeffJustice1

Жыл бұрын

how else will we fund Gender Studies degrees?

@MarcusTSMarcus

Жыл бұрын

Because those educated tax payers pay for your stuff in other ways. It would be like being mad that you are paying for fire fighters even if you have never had a fire.

I kept paying the previous minimum payments at my loan and it went straight toward the principal. Now I have only 30% left 🎉

Payments will be starting in October. Interest starts accruing in September.

Bankruptcy for ever

Hey student… 1. You made the choice to go to THAT school. 2. You were aware of how much the tuition was to go to THAT school. 3. You made a conscious decision to Major in “18th Century Clay” 4. You took out YOUR loan with your dumb co-signing parent 5. You understood the repayment requirements of YOUR loan. It’s YOUR responsibility to make good on your repayment. Not the government.

@hdvaughan87

Жыл бұрын

This is the dumbest thing I've seen in a bit. Let me redo your points. 1. Yes sure did, 18 years old senior high school student, wanting to get into IT 2. Sure, though does an 18 year old understand the value of money? let alone others in lower income areas . 3. Actually a lot of people including myself went for well paying progressions like lT and network engineering at the time of selected said school. 4. Actually at 18, still in high school, I was allowed and talked into taking a 60k loan out by myself with out knowing anything about money or interest. 5. Wrong. full stop. Yes I did sign the paperwork, Yes I did attend the school. BUT I graduated during the 08 crash with no job prospects or anywhere to go. Government bailed out large institutions, not me or the lil ppl. Had no issues with that. This is needed for me and others who are still struggling with repayment of loans that were predatory in nature . The government SHOULD step in and prevent this from happening to other kids, and make it right for those who this did happen too.

@billreich7229

11 ай бұрын

Its not the government paying, it is the taxpayers.

My student loan payment was around $600.00+ and it took me 12 years to pay it off.

480 dollars!!! That’s more than my car payment

What frames is she wearing?

I am a student right now and I did not spend my money foolishly. I am naturally frugal. None of my friends spend money on big purchases just for the sake of having zero percent interest at the time. Do not base us off from stories that you hear from friends of friends. Having this time interest free has helped me so much so I can focus on my studies. I never asked for Biden to be stupid and make us look bad.

@sourdough2078

10 ай бұрын

It's all theater. People can rack up mortgages, car loans and credit card debt and can declare bankruptcy. Then do the process all over again. Also prisoners and illegals getting education for free. Think about it.

I paid off my student loans on a minimum-wage job. it took me fifteen years, but I did it. If you go to college you need to pay off your student loan point-blank.

@Obie1sand2s

7 ай бұрын

If you had student loans why were you on minimum wage

Deferment the GOV loves that!!

For me it was amazing to pay directly to the principal and get rid of a huge chuck of my student loan! And I paid off my car! 😊

They feel defrauded because a guy Constitutionally unqualified promised something he could never deliver.

I’m really glad I’m out of debt and have 6 months emergency fund. And here i thought I was doing so bad with money bc I’m not a homeowner (yet).

@DavidHowe-nv1nb

Жыл бұрын

Same. Getting through steps 2 and 3 felt amazing, but now i'm depressed wondering how long it will take to afford a house properly.

@diannebee

Жыл бұрын

@@DavidHowe-nv1nb I’ll be 40 in 3 years and if I’m not a property owner by then I will freak out! Bc retirement would be coming soon and I have no house to pay off. Ugh life is going by soooooooo fast.

@DavidHowe-nv1nb

Жыл бұрын

@@diannebee I feel that!

@tmusa2002

11 ай бұрын

You are doing it in the right order. Good job.

i thought avg student loan payment was like 7 to 800, i checked google said 503 a month is avg

so the loan got you educated and you can't make a budget...

480, nice, thats one week of work dedicated to paying off a school i attended for only a year.

I'm a plumber

The figure is double that for my son.

Cant wait for all the cheap repos

I never hear Dave mention you can still get no interest, it's not just during Covid. My twins are doing income based and it's interest free and you can pay more. Should be done soon.

it's just ridiculous people have to pay for education. Don't believe me? Ask the rest of the world. It's so sad a lot of americans are slavery of the student loan payments. Im from Costa Rica , im a mechanical engineer and i pay for ALL my career $500

@TarmacSkin

Жыл бұрын

BS … engineering in costa rica is around $10,000 in a public college.

@diannebee

Жыл бұрын

What are you talking about? College isn’t free for the rest of the world. Stop talking nonsense

@DavidHowe-nv1nb

Жыл бұрын

We don't need the government subsidizing gender studies degrees. The problem is a lot of people spent 4 years NOT getting a real education so they have to be barristas now but with $100,000 debt.

@justarandomgothamite5466

Жыл бұрын

​@@diannebeeshe said the average student loan payment is around 480$. I pay less than that per semester (every six months). Adding cost of living, it comes around to me spending like 4000$ per semester. Total. Not a cent more for anything like text boohe, materials etc. Also in my home country we have a student loan program that you don't have to pay interest on.

@tmusa2002

11 ай бұрын

Start having the gov’t pay for college and Little Johnny and Sally won’t qualify because they didn’t score high enough or get good enough grades. The bar will rise and maybe that’s what needs to happen. Not everybody can make it through college.

I’d say it worked. I was able to save up 70k in cash during those years. Now, I am ready to pay them off once the USSC finalizes its ruling against stu loan forgiveness (probably this week).

@DavidHowe-nv1nb

Жыл бұрын

Nice job!

@jack7240

Жыл бұрын

@@DavidHowe-nv1nb thank you! I just checked and the final payment of 33k just finalized. Feels good to have Sallie Mae off my back since I graduated in 2014.

Only federal student loan debt was paused. Private wasn’t.

I think people are going to try and pay the minimum thinking its going to help not realizing that they are going to pay for decades.

I won't lie I would like the pause extended, I went from what was a payment 200ish a month to what could be like 80 a month

Obviously they didn’t learn anything in college,the money they borrowed if they bought cars homes etc not thinking about paying their student loans back also. I paid 100 percent of my college tuition with no student loans or help from parents. I worked Full time and went to college all the way to my Masters degree.

Supreme Court depression

I got a journalism degree at Columbia and I can’t afford to pay my student loan. I’ll just start a go fund me page and ask you all the pay for it.

The real question is how many paid off their loans during the student loan pause or even lowered their principle??

The pause probably helped a lot of people. I have friends who doubled their income or even earn $30k more than they did prior to the pandemic. People in that situation will be fine with the student loan payments.

@9libertybell

Жыл бұрын

@@PeakTrainingProgram, are you feeding an Army? A loaf of bread and peanut butter can go a very long way on a few dollars. Bags of rice and beans are not much more.

@xaviergarza4315

Жыл бұрын

No family is eating like this. Inflation went up 9 % and wages went up 5%. Everyone actually took a pay cut technically. No one is about to be fine. That financial crisis everyone warned about is here.

Does that translate to $480 per month per vote ?

It’s gonna be 2008 all over again

How ab we stop using bandaids and just get rid of our current systems and actually start resembling a #1 country

i hope you took advantage of this.

Its a nightmare

pay what you owe

Mine is more than my mortgage.

@janahough6257

Жыл бұрын

And it always was

@tmusa2002

11 ай бұрын

I didn’t buy a house until my student debt was paid off. Live cheap and knock out that debt so life can start with a clean slate. I understand everybody has a different situation. I lived in an old house trailer out in the country with a roommate during and a few years after college. Dirt cheap living and not fancy. Roughed it, you could say, with an older car. I just wanted that behind me asap. I saw my mom become a widow and live with very little so had that mindset to not repeat that. I try to pass this idea on to new students. It works and you have ridiculous stories for a lifetime of frozen pipes and critters to share. 😅 I learned a lot.

I thought that they were supposed to be the smart ones 🤔

Why should I pay for their loan. They need to pay it back themselves, they signed up for it, not me.

The only way i can see it beneficial is if you invested that money for the past 3 years and reaped the gains.

Thank the supreme court for the coming crisis.

It’s crazy that the loans were paused. Nothing else was paused during the pandemic. If these college educated folks were as smart as they are supposed to be, they would have banked that money. Not sorry.

You better rethink that figure; I am paying $1425.@ month for the last 17 years and the American Education Services are not satisfied!

Crazy, but you signed the loan.

There is a portion of the adult population for whom life is an endless scramble for free stuff.

To bad so sad

Hey Dave everything is gonna be alright, Right??? Nothing to worry about right ??? Ahhh don’t worry there is not gonna be a crash the housing market is gonna be just fine I have too much real estate I don’t want it to go down 😢. Wait please please 🙏🏿 papa Biden do something my net worth is gonna take a hit 😮

O well pay your bills why do rest of us have to pay for your college degree

Use your. INCOME 💶 TAX RETURNS TO PAY THAT'S HOW I PAID MY STUDENT LOAN. ...😮