I’m in year 3 of my aggressive debt repayment plan. 2 jobs, working 7 days a week. I knocked out 30k, 20k more to go!

@kemikunle9360

3 жыл бұрын

Jesus!

@jamesgreen4212

3 жыл бұрын

Go get em man! Maybe set up a funeral for your student loans once you're done too 😂

@genwilson7741

3 жыл бұрын

So what side hustles are you doing?

@written2382

3 жыл бұрын

You're a ROCKSTAR! You'll be done sooner than you know it. Godspeed, friend!

@selflove428

3 жыл бұрын

I'm going on 5 years on debt repayment. I work 60 to 70 a week. I paid off almost 10,000 debt

I owed 75k so far its been a year and i’m down to 46k. I’m an Registered Nurse in NYC. I started a small business and currently pay $2000/month towards my loan.

@moochimooch636

3 жыл бұрын

@vince baldwin thats on the lower spectrum nursing home salary. Most hospitals start you off at $90,000+. Also Thank you very much!

@strawberrycreme7181

3 жыл бұрын

Wow congrats! Keep going!

@sonofyah144k2

3 жыл бұрын

@@moochimooch636 Come to SF 100k starting

@moochimooch636

3 жыл бұрын

@Theone82 LOL i don’t throw 100% of my check into my loan. And it’s only been a year. I make 100k as an RN before taxes. I didn’t open up a business to pay off my loan, i opened up a business for more income to generate more networth. Not live paycheck to paycheck like most people. Currently i have 30k left on my loan. It has been a little over a year since working my first job :D if i wanted to i can pay off my whole loan but majority of my money goes into investments.

@churchillotamere833

3 жыл бұрын

@@moochimooch636 one of my friends who studies in America says she richer than me I attend college in Europe but with no loans she receives loans she doesn’t work to pay off loans yet her first year what do you think is the best advise I can give her

I did $100k in five years I worked day and night for all those years. It made me who I am and I’m glad I did. I graduated as an accountant debt free. It’s my biggest accomplishment. Congratulations!!!!!!! No one can take that accomplishment away.

@DFCGarage

3 жыл бұрын

Go in Europe and do the studies for free and you will get also a 4 years life experience.

@numbskull8076

3 жыл бұрын

Hello I am so happy to hear that I wanna graduate as an accountant too but I am scared and I don't know many things its just eating me because I really wanna move to another country and study properly.

@numbskull8076

3 жыл бұрын

I am so glad to hear that

@PWNINGxPENGUIN

3 жыл бұрын

Hi. I’m gonna be an accountant. I’ll have $210,000 in loans :)

@josediazj6

3 жыл бұрын

@WorldFleximmigrant- out of state tuition Landscaper- cook - student for all those years Accountant in Atlanta

The fact that her degree was $75,000 and her starting salary (in NYC) was only $40,000 tells me that her degree was extremely over priced. I think colleges will point to "future potential earnings" but I do not buy that logic. Once you start working your employer will teach you more through experience than your college classes will. It would make more sense to set tuition prices based on expected first year salary. It will be interesting to see if colleges make adjustments in the future due to their offering becoming less accessible to most Americans + Americans not being willing to go into massive amounts of debt for a degrees that don't mathematically pay off.

@TheTbabylati

3 жыл бұрын

It is. A journalism degree doesn’t pay much. I would only go to get a STEM, medical or law degree. Anything else is almost not worth it.

@spacewalker9375

3 жыл бұрын

Purdue has a really interesting concept going on thanks to Mitch Daniel's. Purdue is essentially providing your education and you don't pay until you're done. The idea is that you owe back at a certain percentage depending on your actual success and the field band you fall under. So essentially if you're a literature major you owe less than engineer. And if you are super successful and make 6 figures, you owe more to the school.

@betsywilliams3666

3 жыл бұрын

@@TheTbabylati Then you'll have an over saturated market for STEM, medical and law. We also need the arts.

@miaa1762

3 жыл бұрын

@@TheTbabylati I am going to college this September and majoring in journalism. It is really worth it, especially if you then want to get an even higher education.

@colorfulcodes

3 жыл бұрын

If she's in NYC we have cheapest colleges in the country that are also high quality. CUNYS and SUNYS are awesome and cheap. Cunys are rated in country as least amount of grads with debt.

Hosting a *funeral for your debt* in such a killer dress, gloves, and fascinator is my vibe~❤🤣 and I'm here for it.🙋‍♀️

They really need to educate high school students more, it's crazy how an 18 year old who can't even have a beer can sign up for six figures of debt. Counselors and parents need to step it up!!

@MrKrabs-nv3vr

3 жыл бұрын

That part that was me. I was 17 years old discussing loan amounts. Didn’t know what I was getting myself into. All I saw was the college life. My grandma was my co-signer. Now I’m 17K in debt…

@FourWheelFinance

3 жыл бұрын

@@MrKrabs-nv3vr It happens quick! At least $17k isn’t absolutely horrible, there are plenty of people with $50k and no degree! Just need to keep your head down and you’ll be there in no time 👍🏻

I paid off my last 9,000 last May. It really is a liberating feeling.

@daple1997

3 жыл бұрын

Take out more debt lol

I can't believe I was tempted to study in the US at some point when education in France is for the most part free. Good on her for paying it off 👏🏾👏🏾👏🏾

@raconte-moialice9509

3 жыл бұрын

Moi j’ai étudié en France et je suis venue aux US sans avoir à m’endetter pour la fac. Mon mari par contre a étudié ici, il a fini de rembourser ses emprunts quand notre 1er enfant a eu 13 ans. Ce système est juste horrible 😞

@swicheroo1

3 жыл бұрын

It's still tempting to study in the United States. It's where all the cutting edge research facilities--laboratories and think tanks--are located. And it's where the research agendas that define career trajectories and innovation happen. The research that made possible the Covid vaccine comes from institutions in the USA. And such mundane innovations like GPS come from the intellectual labor of those working in the USA. This is why foreign nationals still do at least a portion of their intellectual work in the United States.

@LaCréé.e

3 жыл бұрын

@@raconte-moialice9509 Wouaouh c'est chaud! Mais bon le point positif c'est qu'au moins il a fini de rembourser maintenant 😀

@LaCréé.e

3 жыл бұрын

@@swicheroo1 It may be for particular field. But for me the only thing it would have brought to the table is huge debt.

@Msdufr

3 жыл бұрын

For some it’s totally possible to go to the US and not accumulate a ton of debt. For example I only owe $3,500 which I can pay off at any point with my job but I’d rather wait until the deferment period is up since I can save up more and not have my loan accrue interest. And the only reason I have a loan is because I started at a private university before I made the switch to a public one.

This is incredible, but every time I see stories like this, it always makes me wonder how did this happen? In the 70s, 80s, and 90s, this problem simply did not exist for students. There has never been a generation that has had this type of burden at the beginning of their 20's.

@mdel310

3 жыл бұрын

Predatory practices by the school because the federal government got involved with student loans, so they were able to raise tuition and it created a vicious cycle.

@samuelhardy5882

3 жыл бұрын

@@mdel310 100% - couldn’t agree more

@mr.animemystery60

3 жыл бұрын

@@mdel310 in canada its pretty okay, intrest is 2.5%/month after graduation, and if u can't pay it it will automatically be forgiven in 15 years. Plus the loans that you get aren't all loans, majority is just grants and loan is like 3.5k out of 11k. Well depending upon the university, program(degree), and financial status it may vary.

@afprincess7622

3 жыл бұрын

I think People are a lot more vocal about it because the big thing is paying off debt. Not to mentionSchool prices have gone up, cost of living is up, And people are spending a lot more money trying to keep up with the Joneses which means the money you Have left to pay off school loans is very little.

@oldcountryman2795

3 жыл бұрын

Nonsense. It was never easier to pay for college than it is now if you’re smart about it, go where you can afford to go and work as many hours as possible. College age kids are just lazier and less motivated than they were 40 years ago.

An incredible accomplishment but let’s not forget the source problem of sky high tuition fees in the US.

@jacobg8640

3 жыл бұрын

And what's the source of the sky high tuition? Universities who can charge whatever they want. And why do they charge whatever they want? Because banks will be willing to lend the money. And why are banks willing to lend the money? Because the US government got involved and insured the loans.

@blucow6677

3 жыл бұрын

these videos are meant to make us feel like this is normal, there is no forgetting when its just the new norm

@zoobrizz

3 жыл бұрын

And bad /low paying degrees

@552mustang

3 жыл бұрын

@@jacobg8640 You hit it on the head.

@pep590

Жыл бұрын

Charlie, I think you forgot a few things.

This doesn’t explain how she paid though? 32k in 8 months and 1k every month while making 40 000?

@saucy05

3 жыл бұрын

Bunch of side hustles apparently. She must have been working 80 hours that year.

@nllee7051

3 жыл бұрын

That's what I didnt understand as well. They need to explain much more like what were her side hustles that she paid 32,000 in 8 months

@notanotherone5564

3 жыл бұрын

Doesn’t make sense, she must have been living with her parents. Even if you work 80 hour weeks, after taxes that’s not going to be enough to pay nearly 2k a month, plus rent, plus gas, plus food, plus insurance etc.

@hedyeherfani5729

3 жыл бұрын

She said her job out of college paid her 40k. I doubt she was making the same like 5 years later when she had only 32k left.

@Kelly_Explores

3 жыл бұрын

Yeah, this video was not helpful. Just slightly motivational at most.

Just reading the title and seeing that number gives me so much anxiety😫 Good for her for paying it off!

@acestarone

3 жыл бұрын

Same here. I graduated with 26k but the interest made it go up over time. I paid it all off 3 years ago

@anoukc6928

3 жыл бұрын

Unbelievable ! Will never study in the states

@localwillow9948

3 жыл бұрын

I had 500k in debt, in 4 years I took it all off, every single penny.

@anoukc6928

3 жыл бұрын

@@localwillow9948 crazy!!! 😱 And I worried about my 5K loan in Canada!! Ha ha

@stefancoban59

3 жыл бұрын

@@localwillow9948 Dave Ramsey would ask: R u a doctor or a lawyer?

this video was missing information about her increase in salary after her first job out of college. How did she pay off 32k in 8 months and pay rent and other expenses. She had to have at least made 110k in gross income to accomplish that.

@cmac3764

3 жыл бұрын

Right a huge salary/consistent income increase and/or she had zero to minimal living expenses around years1-2 of debt re-payment. The math doesn’t add up any other way.

THAT'S AWESOME 😊. I paid off 238,000 in student loans and became debt free too! DEBT FREE is the way of life 🙌🏾🙌🏾🙌🏾

@mohammedalishaikh3170

3 жыл бұрын

How did u do that??

@mhmhmmhmhm5162

3 жыл бұрын

@@mohammedalishaikh3170 live like a caveman, its pretty easy when u first get going!

@megananne904

3 жыл бұрын

Wow I am also paying off 238k! Specific coincidence, I hope I can do it too 🥳

@colorfulcodes

3 жыл бұрын

😱😱😱

@ryanc519

3 жыл бұрын

how did you do it?? How much were you making?

Congrats to her on getting herself out of student loan debt. I would have preferred to see a chart (like in Millennial Money) breaking down how much her side hustles were paying out on average per month for more context.

Would have liked a detailed account of how she did it. Rent, Car, etc.

@dakingceasar88

3 жыл бұрын

Parents probably

@sdtcal

3 жыл бұрын

@@dakingceasar88 did you watch the video? She did what she had to Do. Don't assume her parents helped her at all.

@dakingceasar88

3 жыл бұрын

@@sdtcal there was never a breakdown of what she did

@chicnoir29

3 жыл бұрын

No car in New York city.

@oldcountryman2795

3 жыл бұрын

Earn more spend less. There you go sweetie.

Really. There is no shame in going to a community college--especially nowadays. Many people do this and transfer. If you are lucky enough to be able to live at home (not everybody can), you can transfer. A lot of people I know have gone on to do that. In some states, such as mine, community college tuition is free for residents who went through the public school system. I know people who transferred to Ivy Leagues or great State Schools with international reputations, like UCLA or U Michigan. As a college professor, this is something I tell everybody.

@carmenmatagulay727

3 жыл бұрын

Unfortunately if you are planning on pursuing anything higher than a bachelors degree, it is nearly impossible to get away with anything less than $50k in debt. I got my bachelors with a rather minimal amount in debt compared to most, but even while working through school I was unable to save a substantial amount of money. Now that I'm applying to grad schools I know there is no way for me to continue unless I accept that I will be tens of thousands of dollars in debt moving forward.

@swicheroo1

3 жыл бұрын

@@carmenmatagulay727 I have a PhD. No debt. The university actually paid me to go to school. Most people who get PhD's will get full rides, if they go to well regarded schools. I suggest, though, that you should contact professors who have served as mentors in the past. They can probably point you toward resources--and strategies---that will minimize debt. A lot happens in the strategic planning phase, which you are right in currently. Good luck!

@carmenmatagulay727

3 жыл бұрын

@@swicheroo1 Unfortunately the university paying me to go to school is not a realistic option for 99% of people. Given that grad school tuition averages about $30-40k per year totaling $60-80K just for 2 years of tuition, not including living expenses, even with scholarships and other resources it is still highly unrealistic to go through a graduate program with minimal debt. I believe the average amount of debt for grad students is somewhere in the $60-70k range. Just as you said there should be no shame in going to a community college, there should be no shame regarding the amount of debt we as students are forced to bear in order to obtain an education. Unfortunately as much as we all wish there was a way around it, there just is not for the majority of people.

@luvyah2419

3 жыл бұрын

Community college is the way to go. You save sooooo much money with the same quality of education you would've received the first couple of years at a University.

@PrePre_

3 жыл бұрын

I went this route and transferred to a university. I came out with $2,044 in debt.

That interest rate of nearly 12% is messed up. How dare the federal government do this

@poetryaddict1

3 жыл бұрын

It's most likely a private loan. Subsidized/unsubsidized loans don't charge that much. It's basically predatory lending at that point.

When to school at Arizona State back early 1990s. Cost for instate tuition was $500/semester, unlimited classes. And back then we had these things called "jobs." Paid for it weekend pizza delivery and computer coding. I feel just horrible for what today's generation has to go through just to get a degree. It's criminal.

@pep590

Жыл бұрын

Actually, you are partially uniformed. Many students go through today with no debt via a community college and scholarships and state schools. Read the book, Debt Free Degree.

Cudos to her. I would have preferred more details, on how she accomplished it though.

@Danny451

3 жыл бұрын

Fans only page.

@32starsandsugar

2 жыл бұрын

@@Danny451 someone's jealous (and probably gets paid hourly ;)

Felt like the video was talking to me 🤣. Great job Mandy!

There has to be a better way. I’m happy she paid it off but we shouldn’t be in this position. College degree worth 75,000 but out of school your getting paid 40,000? That’s ridiculous!

@ibrahimalharbi3358

4 ай бұрын

Modern slave But you guys don't like the solution No Usury It was Catholic practice. Only Muslim pervert Usury

Attend two years at your local junior/community college. Then attend the last two years at a state university. That's the solution for not getting $75K in debt in the first place.

@katv3116

3 жыл бұрын

Exactly! I went that route and was debt free 2 months before I graduated :)

@darrylnelson05

3 жыл бұрын

@@katv3116 Your degree says the same thing as graduates that attended all 4 years. But it cost a lot less to get it.

@tarzan12345

3 жыл бұрын

University of Pittsburgh is still a “state” university but the governor and state legislature came in power over a decade ago and decided to cut a lot of funding and kinda moving away from the traditional state school model so now Pennsylvania has the most expensive public universities in the country, even for in-state residents.

@darrylnelson05

3 жыл бұрын

@@tarzan12345 Penn State still has branch campuses. Aren't those cheaper than attending the University Park main campus?

@MrBrewman95

3 жыл бұрын

Yes! I did this too and my total was $14,500 and I got it paid off in less than two years of graduating.

Maybe I missed it...But how did she manage to pay off 32k in 8 months on a low salary in NYC? 🤔

@anoukc6928

3 жыл бұрын

They say she was earning 48K...I don't know how she managed to live on that in addition of paying off this ridiculous loan

@cara4996

3 жыл бұрын

She said at the start she was doing lots of side hussles, freelance writing, dog walking etc. Probably living off rice and beans too!

@playgroundofsound7683

3 жыл бұрын

Only fans

@DJ11213

3 жыл бұрын

@@playgroundofsound7683 lmfao.,. Man I might just have to sell pics of abs at this point

The fact that most of us are in our 30’s before we can even begin to think ab life after college

@msg360

3 жыл бұрын

same here , 35 , I got about 110k in the bank not much but its something , no student loans .. dont plan to get my masters Degree trying to land that 6 figure job so i can start investing . still not traveled yet ether or have a wife or any kids ..want to travel before i have kids etc not on a clock like most woman are but i would like to do these things before i'm 40

@Rivs5117

3 жыл бұрын

@@msg360 Bro invest your money in stocks and bonds. Don’t let it sit in the bank.

@msg360

3 жыл бұрын

@@Rivs5117 I know sooner or later

@atlantic_love

2 жыл бұрын

@@msg360 LOL yeah right.

@msg360

2 жыл бұрын

@@atlantic_love everything I said was true man

My loans were between 5-16.5%. Private loans between 9-16.5%. It was overwhelming to have student loans accrue at credit card interest rates. I finally refinanced and got a 4.5% rate. I wish I would have done that years sooner!!! Refinance and snowball 🙌🏼

@AngelValdovinos

3 жыл бұрын

A students for for the b students 🤡

@bam0505

3 жыл бұрын

Yeah pretty crazy that the government will lend to students at over 5% but to banks at .25% (or even negative rates for a couple times in the past decade)

@mdstmouse7

3 жыл бұрын

@@bam0505 its not crazy. they want slaves!

Im not quite sure about the rest but I finally got mine all figured out , quite impressive if you ask me and took only 20 days

@brianwayne610

2 жыл бұрын

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@RICKEYDD

2 жыл бұрын

forget school... it ain't worth it

@cyrus9106

Жыл бұрын

@@RICKEYDD tell that to the people who make 400k as CFOs with their MBA degrees LMAO

She is amazing! Although it was a feel good story it did make me sad to hear how much she struggled. If she had saved up $102k without having to think about loans she would already have that house she’s dreaming of buying next.

@pep590

Жыл бұрын

I see sadness in where if she had more sense, she would have never gone into such extreme debt.

I had to find a specialist in doing this and that’s when I understood who I was always doing wrong , you all need to make that same move

@jessicajohnston5693

Жыл бұрын

Sorry, that sentence didn't make sense to me. Can you please try to say that again? I am trying to decide if I should get student loans or not.

Depending on one stream of income had never made any millionaire and earning check don't put you on forbes

@jessicaallen9006

3 жыл бұрын

Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.

@selenastout8253

3 жыл бұрын

@@jessicaallen9006 Most intelligent words I've heard.

@worldclasscreativity6610

3 жыл бұрын

I wanted to trade Crypto but got discouraged by the fluctuations in price

@judithgarza7956

3 жыл бұрын

@@worldclasscreativity6610 That won't bother you if you trade with a professional like Expert Franklin moore

@emilymichelle8605

3 жыл бұрын

@David Smart Yeah, My first investment with Expert Franklin moore earned me profit of over $25,530 US dollars, and ever since then he has been deliverin

Students loans operate the same way as loan sharks. The interests on these loans is insane. If you pay the minimum you aren't going anywhere. She was very smart to come up with a strategy. I did the same with mine, after it was paid off, I could breathe again

I'm almost finish paying mine off. I was at 90,000 now I have 29,000 left.

@cryptojargon2483

3 жыл бұрын

+1 6 ,2 ,3 ,2 ,6 ,4 ,3 ,4 ,1 ,5

@lisasmith9457

3 жыл бұрын

@@cryptojargon2483 Why did number

How are your loans over 10%... thats straight up a rip off cuz the stock market is an average of 8%. Jeez I thought my 5% was bad

@jayman3575

3 жыл бұрын

federal loans be shady like that...wouldn't be surprised if some private ones were...when I saw my first student loan bill on one of my federal loans was 12.75% I paid that sucker off that month!!! lol...

@OneNewHope

3 жыл бұрын

It HAD to be private loans. If she went to school in 2009-2013 she should have benefited from the LOWEST interest rates for Federal Student loans (~2 - 3%)

@rdaniel4810

3 жыл бұрын

Private loans can adjust their interest rates at any time. I had 2. When I paid off 1, the other loan rate jumped to 12%. I called to find out why and was told they can do whatever they want.

@kayduff5676

3 жыл бұрын

@@OneNewHope I went to school from 2012-2016 and rates were not that low.

@OneNewHope

3 жыл бұрын

@@kayduff5676 Correct, interest rates started rising between 2014 and 2015, then continued going up until COVID (and have since dropped back down). So you missed out on their lowest levels. Rates were slashed in 2009 after the great recession and started to be raised during recovery. And I guess I should have said 3-4%. The point is that Federal loans where never anywhere close to 11%. She got private loans.

Student loans can destroy your life if you don’t pay them off aggressively after graduation.

@atlantic_love

2 жыл бұрын

that's why i'll never be able to buy a house. $35,000-40,000 college debt (for TWO YEARS of a for-profit "university") and 50 years old. I only make $40,000 per year. I'll be dead before it's paid off :(

@cyrus9106

Жыл бұрын

@@atlantic_love ? Many people make like 100-200k and comfortably pay their debt monthly while also saving money. Why did you pick a field that paid so little? You literally sentenced yourself into working class peasantry.

Speeding thru the video trying to find out where's she's living , in her mom's basement or with 6 roommates. Lmao how you gonna afford rent in nyc and pay off the loans? Is this a joke

@Libra8410

3 жыл бұрын

She probably lived in the Bronx and had roommates

@PSShavaria

3 жыл бұрын

She said she had side jobs

@lovehometheater

3 жыл бұрын

Me too! Once I heard her say NYC I said "no wonder" she was struggling more!

@TheMilapMehta

3 жыл бұрын

@@PSShavaria That doesn't explain the numbers. They tell us what her side hustles are, not how much she makes from them and how many hours she works. The point about a lack of details is very valid. Mandy might have some great budgeting tricks that could help a lot of others or ideas on how to get + maximize hours in a side hustle for those who are in NYC. However, this video gives none of that information so nobody can learn anything.

Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!😊😊.

@John-mq4cl

Жыл бұрын

Francesca Wilson Financial is my portfolio-coach, I found her on CNBC where she was interviewed, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.

It requires money to make money. this is the best secret I have ever discovered we don't make money, we EARn and MULTIPLY money

@austinwalkers609

3 жыл бұрын

Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.

@thefootballterrace9223

3 жыл бұрын

I invested in both gold and crypto but the crypto is more profitable

@cheekycrypto5758

3 жыл бұрын

The 2021 Real estate investment is good but i rather invest my money in crypto

@frankstellin7800

3 жыл бұрын

The 2021 stock market has been wired and proven difficult to invest

@jamiemadison21

3 жыл бұрын

Investing in cryptocurrency is one of the best chance of making money 💸

I personally didn’t have anything till two months ago, i had to find my own way and now i can say I am proud of myself , got my credt fixed and everything planned out

@AINATECHNOLOGYWORLD.onIG_

2 жыл бұрын

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I keep saying it, easiest way to avoid or pay off student loans is by finding what to invest in at the right time, with digital currencies toping the online market.

@Isabella..hiogbo

3 жыл бұрын

When it comes to crypto option or cryptocurrency the lack of strategy is not really a problem the thing is finding one that is lucrative and suites you

@kasperjammy374

3 жыл бұрын

It's really been a frustrating end for me so far. I keep trying my best every morning to make good money for myself, now seem impossible for me at all point, I feel maybe some are destined to be rich while some aren't😞

@ferdinandw.8038

3 жыл бұрын

The best way to go about the market this era is to invest in your knowledge of the financial markets and be tactical in your decision making. Because not all who claims to know, know it all.

@bigson2412

3 жыл бұрын

I really struggle Making it in the financial markets because I don't have a proper background

@lucasparker6464

3 жыл бұрын

@@kasperjammy374 We have all been through thick and thin in the recent happening in the market but you just have to be strong and stay focused💪🏻

Did I miss something? How’d she get the last 32k paid in 8 months? That’s 4k every month...

@Ikea9292101

3 жыл бұрын

Exactly!

Interest really screws people..

@aminemaamir5287

3 жыл бұрын

Bit time, charging of interest on loans for productive purposes is prohibited in Islam because it is not an equitable form of transaction. It is considered an exploitative practice but unfortunately, it's really common even in Muslim countries.

@FantasyCid

3 жыл бұрын

@@aminemaamir5287 Totally agree. Interest is just a form of enslavement! As a Muslim I also believe it should be prohibited. The entire Capitalist system is running on interest.

Sad. As a college student, you don't really think about the loans until it's too late. I went to a community college for two years and saved $30k. Missed out on the first two years at a university though then got hit with the pandemic the third. The system for student loan debt needs to be changed.

A less known route of student loan repayment is to join the military. The Army paid off $30,000 of my undergrad loans. I only had to pay $10,000 of a $40,000 student loan bill. They also paid 100% of my graduate school plus gave me a living stipend of $2,400/month while in grad school thanks to the GI Bill. I now have three college degrees (Bachelor's in Business Finance, MBA, and a Master's in Supply Chain Management) all thanks to the Army. I paid the second masters out-of-pocket, but got a 25% discount on tuition due to my military service and went to a state school. Total I only paid $28,000 for three college degrees thanks to the military.

@Matt-kt9nm

2 жыл бұрын

Good for you👍....Now fix our supply chain problems.

People congratulating her are missing the point. NO ONE should be 100k in debt, THIS IS NOT A FEEL GOOD STORY PEOPLE.

Girl I hear you. I just paid off all my credit cards debt after 2 years of seriously going after it. And it was exhausting. I still have student loans. But I’m going to focus on building wealth for me, snowballing my student loans and being free

@jakstew8168

2 жыл бұрын

How much do you owe in student loans?

@jessicajohnston5693

Жыл бұрын

It took me 5 years to pay off 1 semester of loans... I am so afraid to get into that mess again.

I paid 7-10k a year to attend University in Toronto. Thankfully was able to pay it off from my summer job income alone with still a lot to save. Appreciate living in Canada every second because of it.

I also had $75,000 in student loans when I graduated in 2007. It sucked!!! Our system is really terrible.

I love this woman. She is a rockstar. She wasn't banking on a politician making false promises about forgiving her debt. She Took on a full time job and several side hustles and she got it done! You're killing it!

They still didn't really explain how she paid it all off. 🙄

The fact that a student can get a loan for 100k is so sad - corporate greed at its finest - my advice to you - get out of the USA and go to school somewhere else

Crazy... school should not be this expensive imagine if she could've poured that money back into the economy instead of something that happened in the past

Good for her!! 👏👏 Wonder if Graham will react to this one.

After that, it’s housing to worry about! Our lives is full of debts, debts and more debts! Capitalism at its finest! And banks are loving it!

@MrBrewman95

3 жыл бұрын

At least you will get equity for the house. Student loans you get nothing.

@michaeltorres1263

3 жыл бұрын

@@MrBrewman95 Yes! This!

Shoutout to her for taking action 🙌🏽

imagine if that 102k went to a index fund that return 7% on average a year...

@michaeltorres1263

3 жыл бұрын

This is amazingly terrible to think about. But the reality for so many. Myself included!

what a stupid system lmao. 96K in interest for education. Great job USA!

The story never explains how she paid off $32,000 in one year when she was only making $43,000 that year. After tax that would eat up her entire income. So how did she live with $0 for the whole year. I think she must have had help.

@rallyrally

3 жыл бұрын

Her first job was 40k. She would have made career moves and increased her salary over the course of 5 years.

How did she live in NYC and pay off loans plus cost of liviing? On top of a pandemic?

$102k for degree for a journalism job? At a gossip rag like the Daily Beast? I mean good on her for paying it off that quickly, that’s very impressive. But she can do better, job-wise. She is absolutely getting ripped off and should look to an actual credible news organization for a job and pay raise.

The system is broken

It's awful that she and so many of us have to waste so much time paying off loans instead of living life. People in other countries don't have to make the same sacrifices even though the U.S. is overall wealthier. Our 20s and 20s are being stolen, and we aren't necessarily guaranteed even living to next week in this pandemic

@shantricejones5830

3 жыл бұрын

You can take the grant and decline the student loans, might take longer to pay for college but with technology today you can learn almost everything online way cheaper.

@KC-ep6sg

3 жыл бұрын

@@shantricejones5830 What grant do you mean?

Good job, mature and serious approach to a problem that baffles so many. Debt is financial suicide and this young person chose to bury the debt instead of letting the debt bury her.

This is insane! I am from Czech Republic. I got my masters completely free!

*What happened to the breakdowns? Excel sheets? Manually showing the budget?*

She's lucky that most of her small balances were also the ones with the highest interest rates. Using the avalanche method (paying the highest interest rates first) rather than snowball saves money in the long run.

The total interest you'll pay per year should be highlighted before anyone signs for a loan. Sadly, loan providers prey on people's inability to grasp long-term financial consequences to make killer profits and keep people in debt.

When I graduated from a 2-year college in 1997, I had $10,000 in student loan debt. Small potatoes by 2021 standards, but big money back then, especially for someone who is a 20 year old child! I barely knew anything about loans, and that student loan debt is like a ball and chain that stays stuck to your ankles no matter how hard you try to shake it off. I didn't know that the ball & chain would make it hard for me to get an apartment, a credit card, a computer, a new mattress, and everything else that requires some sort of recurring payments. I was unable to find a high-paying job in my field of study upon graduation. So in 1998 I put the loans on deferment, and worked whatever low-paying odd jobs I could get. The loan company called me asking how much I could pay per month, and all I could do was make small payments for the next couple of years. In the early 2000's, various life tragedies beyond my control made it impossible for me to make any payments, or worry about loans at all, and the loans went to collections. In 2008 I became disabled, and at that point surviving on my tiny disability income was my main priority, because no way was I gonna pay for a student loan with the little money I got. In 2013, I learned about the student loan forgiveness program for disabled people, and with help from family, I jumped on that opportunity. The interest rate on my student loan was so high that the $10,000 debt I had in 1997 ballooned to $25,000 by 2013. Imagine if I went to a 4-year college! I'd end up like the person in this video with $100k in debt!

I wanna know how she paid the last 30k in 8 months. They glossed over that, but that’s the most impressive part!

I paid off $22k in student loans in about a year too. It was all undergrad loans, and something that helped me was that I was in a graduate program (full ride) which made my interest stay at 0%. That year was probably the most shittiest year on my life and because I had to go through that I hope others can take advantage of any loan forgiveness because being in a situation like that is awful.

I remember when the student loan funeral went viral 💀😭 lol so cute

For those waiting on the government to cancel your loans, you have a rude awakening coming. I will be done with mine by the end of the year.

@catherinen8547

3 жыл бұрын

How nice for you, Romeo.

@kimberly77ish

3 жыл бұрын

After 2+ years of paying down my debts, I should be finished paying off my Student Loans by the end of April/beggining of May.

@truegrizzlesfan2292

3 жыл бұрын

I put all the extra incomes into my stocks. Since I don't have to pay student loans right away. Now if I want too, I can cash out the funds but going to wait until government do something or nothing. For me 8 months not paying student loan is great. I wish he extend it to another 8 months and I can save even more. Let's go

@jacobg8640

3 жыл бұрын

@@truegrizzlesfan2292 Stocks are risky in the short term though. You don't want to be forced to cash out during a market crash if student loan deferment isn't extended again. If you can take on that risk, go for it, but for me I'll just stockpile cash and use it towards a down payment if loans are forgiven.

@romeostarlite21

3 жыл бұрын

@@truegrizzlesfan2292 Not a bad idea, I am currently investing while the interest is deferred on my loans but as soon as they start to chip back in, I will already have enough put away to pay it off by the end of the year.

My husband changed careers which required full time school for 3 years and has 160k left :/ he came from a low income background so there was no help with anything. We got married while he was in school!

@magicfamily123

3 жыл бұрын

It is so nice that you married out of love :)

@Melbester9

3 жыл бұрын

@@magicfamily123 Yup. That's what it's supposed to be.

Congrats, 27 year old German here, studied the last seven years, and surprise, I'm debt free too

Everyone is ignoring the problem with this video. She shouldn't have $100K in student debt, it shouldn't cost someone a small mortgage for 3-4 years of higher education.

Very happy for her, and wish her all the best. Love the tenacity and self reflection of her situation and owning it. Philly/NYC represent!

I don't know this girl but I'm so proud of her! She's not whining about cancelling student debt. Good on you!!

I'm glad for her, but how did she pay off $32,000 in 8 months on a $40,000 annual salary and still pay for her living expenses?

@tessy28

3 жыл бұрын

40k was her FIRST job out of college. I am sure she got a better job that she was able to have spare money to throw at the student loans. She mentioned making career moves specifically geared towards her paying off her debt.

@javengilmore4801

3 жыл бұрын

@@tessy28 Then why didn't they tell us how much she was making with her other jobs? I think they mentioned the $40,000 salary because that's how much she was making at the time when she was paying off her debts.

@tessy28

3 жыл бұрын

@@javengilmore4801 she did say she was picking up a ton of side hustles.

@javengilmore4801

3 жыл бұрын

@@tessy28 yeah, probably. I guess no reason to think too much about it.

Congratulations! Debt freedom feels great, doesn't it? I made my last debt payment last month! Paid off $54,128 in 26 months!

The disgusting bloated cost of University is the problem 😕 We have to stop enrolling and stay home at community College. The more we feed this monster the bigger it gets

she started paying student loans when she was 14?

Throwing a funeral for her loans, what a MOVE! Love the story, and great video as always :)

This does not explain how she paid her 32k in 8 months. Nothing interesting

Its insane how much debt the students in the USA have. I live in Germany and cant even imagine it, because I dont had to pay any debt. I think everyone should have the opportuniy to study for free. My respect how fast you paid this back, thats really not easy.

I didn't have nearly as much debt cuz I worked through school and graduated in 2013. I've got a year or two left after working 2-3 jobs all this time, car accidents, medical bills, and being robbed by my roommate. I can appreciate the satisfaction that comes with the finish line

@abbyc.4215

Жыл бұрын

Did you get it paid off?

Prioritizing compensation over finding your dream job is something every college grad with debt needs to consider. Once your debt is paid off, you can look for your dream job. She did a great job!

You wasted a down payment of $100k though

@MrTmenzo

3 жыл бұрын

She's young and debt free and now has the time to build a down payment, invest etc compared to her peers drowning in debt.

Fortunately, I graduated without student loans. I went to an in-state, in-city public college and majored in criminal justice. I lived at home and took the bus to school. Why should I be responsible for other people’s student loans?

I think that 99.9% viewers are students 😂

This is REASONABLE! Most people can’t pay off over $100k in 2 years. But, those stories are very inspirational. However, with that being said, it’s good to see a relatable timeline. Congratulations girl 🎊🎁🎉

Seeing that genuine relief on her face says it all... Priceless! Happy for you :-)

Kudos but how did the $30,000 in 8 months happen?

Dave Ramsey is smiling

@michaeltorres1263

3 жыл бұрын

That's what I was thinking as soon as the narrator mentioned debt snowball.

I cant stress this enough, if you can, and your parents are willing, sacrifice a year of your life to pay off the debt. Or how ever long you need. My parents and I struck a deal where I was able to pay off 32k in exactly 1 year on a 50k salary. Stayed at home. Didn't spend anything. My account was at 0 for a long time. But with the help of my parents I was able to not carry a safety valve.

@jacobg8640

3 жыл бұрын

This is exactly what I'm doing. Got a job about 30 miles from home and everywhere closer is more expensive than if I paid all the expenses instead of my parents. Debt will be gone with a paid for car in a year, give me another one or two years and I'll have a down payment for a house. All while still throwing 10k a year into my Roth 401k.

@Yallboots

3 жыл бұрын

@@jacobg8640 yes exactly. I did the same thing. Spent 2 years at home. Paid off all debt first year. Saved all second year. I'm only 24, debt free, and have 50k in the bank that I'm using to move.

The biggest scam is paying 75k in loans to earn a 40k a year job

3:10. Paying off 32K in 8 months. On a 50K salary, living in New York? I believe that she paid it all off but the numbers aren't adding up unless information is withheld.

1:13 why I will never allow my child to take out student loans.

Wow this is why so many people never pay off loans. Like you end up paying 3 times what school costs. Like how did she have enough time for all that? I know nurses that will be in debt the rest of their lives for saving the lives of others. Just sad! And people think we are not paying our debt with forgiveness. No it's reperations for money stolen from us above tuition costs.

I think she was featured in an article. The pictures looked familiar

Hi Mandy, nice video thanks for sharing your story.

This video really motivated me to pay off my student loans, but i only payed like 400$ for 3 years of college 😅