The biggest problem with the student loan debt crisis is that there are no checks and balances. The schools can charge whatever they want and the lenders will lend it without any research on the earnings potential of the degree they are lending the funds for! If you want to get a business loan, you have to have a business plan that shows projected revenue based on market research. If you want to get a loan to buy a house or car, the bank appraises the value of the asset they are loaning money against......... but when it comes to education, we let naive kids borrow $200,000 for a bachelors degree in history and women's studies!! It's a scam from the beginning.

@King-dp7cm

10 ай бұрын

A scam!!! Absolutely predatory and it’s disgusting how this country allows for kids to be taken advantage of like this. Thanks for this comment.

@joshuaarseneau5891

10 ай бұрын

That’s because republicans and Democrats both decided they wanted to “help” people to go to college by backing these loans. Because like you said why would a bank give money to a child who has no record of being able to pay it back. When the government approved these loans being backed tuition went up 60% because all the colleges starting competing to get this money by adding all these non essential things to colleges. When government says they want to help we need to say “No thank you!”

@maxine2564

10 ай бұрын

@kylia2009, I see your point but isn’t ultimately OUR responsibility to ensure we can make a living from the education we obtain? Furthermore, although few probably give it the attention it deserves but loan entrance counseling talks about these issues. 🙂✌🏾 IMHO, the real issue is the cost of college. Calculus is the same whether you learn it at a community college or a private university.

@kylia2009

10 ай бұрын

@@maxine2564 yes it's true that college cost way too much. The schools don't have any real incentive to lower their prices. IMO, If banks and the fed start refusing to loan over a certain amount for a degree, schools will get motivated fast! Also, I don't think the average person knows loan counseling is even available. I'm all about taking accountability.. I just think we need to be realistic about the fact that everyone does not start off with the same resources and circumstances in life. A lot teens are coming from homes with parents who have very little financial education. Also the emotion behind going to college and getting a degree is the same emotion that causes people to buy houses they can't afford.... it's a perfect storm for teens and young adults to be exploited.

@King-dp7cm

10 ай бұрын

@@maxine2564 if you can find a teenager that knows about loan counseling than I could see you point. Many of these teens are first generation students who are figuring out college on their own. It’s predatory. No way to spin it. I own that I have student loans and take responsibility for it. But no one ever explained toe the impact it would have on my life all these years later. Even when I was paying $600 a month, it was only enough to cover interest.

I paid my student loans off August 10th this year. Thanks you Jesus! We had 85K worth of debt ALL GONE! if we can do….. you can do it!

@VictoryConyers

10 ай бұрын

Hallelujah… show me how

@4WallsDesigns

10 ай бұрын

@@VictoryConyersright …people should reach back and help bring others up! Show us how…

@Mrg524

10 ай бұрын

Amen!!!! 🎉🎉🎉🤲🏾

@roolyfe

10 ай бұрын

Are you single or married?

@Zhello79

10 ай бұрын

Congrats. For me got a 19k debt to pay off, paying it off by chunks. I know some folks with 120k+ in debt and they complain about it lol

I have been paying on my student loans since October 2021! My balance was $176,667.87 and my balance today is $67,000!! I am doing the best I can but it does get hard sometimes 🎉 Good Luck to everyone!!!

@chigasaki06

10 ай бұрын

Spectacular progress! You are almost there!!!!

@vbb8948

10 ай бұрын

@@chigasaki06 Yes, thank you.☺️

@searphhoney

10 ай бұрын

Hi, What is your degree in?

@maxine2564

10 ай бұрын

Amazing progress in two years! Either you have a high-paying job and few expenses or you work an awful lot. 🙂

@jaysoreal9292

10 ай бұрын

Or you live with someone rent free lol. Two jobs barely cuts it now days.

I work for the federal government & my $37k in loans was forgiven last December. When it dropped off my credit report in February, I knew it was real 😂

@King32028

10 ай бұрын

Congrats. Similar situation except I have under 3 yrs left.

@dsd9899

10 ай бұрын

@King32028 CONGRATULATIONS to you as well. OMG, luck you those 3 years are going to go by quickly. I have 13 years of service & Lord knows how many more left, but I'm grateful.

@Heyu7her3

10 ай бұрын

​@@dsd9899well that's because you had already been in repayment for 10 years

@amyyleighanne

10 ай бұрын

HOW???

@dsd9899

10 ай бұрын

@amyyleighanne if you work for the federal government, have 120 qualifying payments & have federally back loans, they get forgiven once you have been paying them consecutively (COVID-19 break counted towards my forgiveness). I completed a form, had my manager sign it, and submitted it. Then I got a refund check from Dept of Education for a couple hundred dollars & a letter saying my student loan account was closed & no balance due. Then it dropped off my credit report. It's called the PSLF program. Hope this helps. Oh, by the way, teachers & nonprofit employees qualify for it too. Good luck.

These days, 50,000 dollars a year feels like being on the poverty line.

@6382smile

9 ай бұрын

That part

@tonyadionne

9 ай бұрын

$65k does as well

@SarahKingsleyHaussman

9 ай бұрын

Especially if you have a spouse and child.

65k of student debt paid off last payment Sunday. Those 3 years interest free helped me. Credit cards paid off. Personal loan and Car payment left hopefully this time next year I’ll be debt free

@christiansoto9755

10 ай бұрын

just paid off my 48k 2 days ago too

@mariamonshae2711

10 ай бұрын

@@christiansoto9755How long did it take you?

@mimiwright3029

10 ай бұрын

Awesome! How?

@rustyshackleford7808

10 ай бұрын

@@mimiwright3029 took every single OT shift that was offered at the job. Worked 6 days a week and worked every holiday. If you believe itself and work the debt snowball it’s worth it

@helena3631

10 ай бұрын

love this for you i am down to credit cards as well and had to transfer them to a zero apr card since my cards jumped from 19% apr to 30 over the course of the last two years so I utilized my credit to get a zero apr card and now i have two years to pay off the balance zero interest which i plan to pay off before June of next year plus i sleep better at night when i have less bills coming in the mail.

My students loans were forgiven this past week ! I'm so thankful 🙏🏽

@TheSageisBack

10 ай бұрын

How did you qualify?

@Thelovelykayla

10 ай бұрын

Congratulations!! Federal or private?

@eunicemeekins

10 ай бұрын

Mines were forgiven too!

@alona724

10 ай бұрын

CONGRATS!!! Proof that some people ARE getting forgiveness.

@user-bj8vo5hl4c

10 ай бұрын

it should be for everyone, not some people. This is so unfair. Why are only some people's paid.

I paid off my student loans on August 11th of this year! $76k cleared! The SAVE plan will help a lot of people so I think it will lead to financial freedom eventually.

@Shay_TheUnpopularOpinion_

10 ай бұрын

Mind sharing? I just graduated and have to start paying off my $60k 😫

@lionheart93

10 ай бұрын

Ya if they didn’t charge interest but not the case. Dumb program 🤦🏾‍♂️

@nc3419

10 ай бұрын

​@Shana___ there's an income range for 0 payments.

@helena3631

10 ай бұрын

@@nc3419 and with the interest coming back the balance will balloon .

@mbank3832

9 ай бұрын

do you mean you paid off the $76k or it was forgiven ?

Therein lies the real problem-the cost of a college degree in the first place! Students who take classes strictly online should get a significant price drop on tuition, regardless of where they live and the school they choose to attend.

@mssha1980

10 ай бұрын

And online classes cost more

@maxine2564

10 ай бұрын

@@mssha1980 maybe it depends on other factors. I’ve not come across a school that charges more for online classes than they do for in-person classes. Tuition has been the same regardless. 🙂✌🏾

@michellegill1278

10 ай бұрын

Someone has to spend time preparing the material and the software to host it is not free.

@jjthefed

9 ай бұрын

The only comment that makes any sense.

@mse9609

9 ай бұрын

Seniors who go back to school should get a break. I was told to go back to college at 59yrs of age to enhance my 25 yrs of experience in the workplace. Well, the recruiter failed to tell me the gamble, corporations don't hire seniors at the rate of pay for a young college student. Thus, that degree has yet to pay for itself, pushing retirement into my mid-80's to pay the thing off.

Got my student loans discharged due to me being a 100% disabled veteran.

@bariatasudan

10 ай бұрын

Yay 🎉

@jayteepodcast

10 ай бұрын

The 100% is harder to believe I am still working on mine

@tyrecarmon20

10 ай бұрын

@@jayteepodcast you got this man

@NewUnityInc

10 ай бұрын

Me too Hallelujah 😊

@tyrecarmon20

10 ай бұрын

@@NewUnityInc praise god!

I work for the federal government and I was in the forgiveness program, $33,000 was forgiven last week. I’m waiting for it to drop off my credit report. Thank you Jesus 🙏🏾🙏🏾

@jamesb8386

9 ай бұрын

See I work for government too and I actually want to make the minimum to potentially no payment if possible because it will be forgiven after 10 years of service. Maybe we are one offs to this video cuz it doesn’t align with my circumstance

I just got a letter that my student loan was forgiven. TYJ. 🙌🏿 Because I was paying for longer than the 10 years.

They need to stop the compound interest.

@JourneyzwithGod

10 ай бұрын

Exactly. It would literally be the game changer for all parties. Just pay back what you borrowed.

@jet44444

10 ай бұрын

Yup I don’t mind paying back, but the interest makes it almost impossible.

@bready226

10 ай бұрын

🏆Y🏆E🏆S

@JourneyzwithGod

10 ай бұрын

@jet44444 my sentiments exactly.

@jjthefed

9 ай бұрын

Not how the real world works.

I paid off my student loans in July

@ajwriter5699

10 ай бұрын

Congrats!

@roolyfe

10 ай бұрын

How much did you have?

I received forgiveness after 25 years!! I almost fell out my shoes when I received the letter from Mohela. Good luck you guys! I thanked God !

@jjthefed

9 ай бұрын

Jesus, 25 YEARS!? What, you get three PhDs or something or is this your kid's debt?

@leslieingram4105

9 ай бұрын

@@jjthefed yes idiot 25 years!!

Thanks for the information. I just signed up and I found out I have to make 16 more payments for forgiveness. I have worked for a nonprofit almost 10 years now. I encourage young people not to go to college unless you’re career requires. Best to everyone.

@ms_veronicakay

10 ай бұрын

Congratulations!!

@AyeJye

10 ай бұрын

Go to technical college not a university

@Heyu7her3

10 ай бұрын

​@@AyeJyepeople take out loans to attend technical colleges

@Heyu7her3

10 ай бұрын

Many careers require college education. Let's also not act like there's no greater requirement of Black people (esp women) to attain higher levels of education than required for others.

@christiansoto9755

10 ай бұрын

go to community college first.

Thank God my student loan was forgiven last month! Biden forgave $145k. I'm still in shock! I keep checking the student loan website to make sure it's gone😊

@mariamonshae2711

10 ай бұрын

Me too!!😂 $10k of mine was forgiven I have $12 remaining and I keep checking to be sure they don’t come back lol

@summerrain6125

10 ай бұрын

How & why did he forgive that? What did you do?

@lionheart93

10 ай бұрын

Sure

@mmoye8640

10 ай бұрын

@summerrain6125 after the supreme court knocked the 1st plan, Biden came back with the plan for people already setup on IDR for a time frame to get those loans forgiven. All the people that met those requirements were forgiven 2 wks ago.

@rlb9652

10 ай бұрын

Bots bots EVERYWHERE

Could you please do a video that addresses 1. People who have student loans existing for 10, 15, years already 2. People who have graduate and undergraduate loans 3. People who make 100k+ No one addresses the above it’s always who makes 30k or less

@NBnNC

10 ай бұрын

Agreed, I fall under all 3 of those criteria

@velissalewis5321

10 ай бұрын

Agreed

@swiftkarma4436

10 ай бұрын

Same here

@highyella1426

10 ай бұрын

Exactly

Paid mine off last year $340k…. Amen! And Amen!

@QuoteWell1

10 ай бұрын

What do you do for a living?

My husband and I have been paying for our 2 kids for college. My daughter came home from NCAT because she wasn't able to get help with finances. She came home and attended her 2nd semester at a junior college. Let's talk about our HBCUs helping all of our kids more. I digress. We have no problem paying for our kids because we are blessed to do so. I hope anyone who can have their payments forgiven or reduced, I thank God for your blessing. My blessings are for me and yours are yours. I get frustrated with people who are hating on others getting financial breaks.

@gigiFLOWER2023

10 ай бұрын

Well said🙏🏾😊

It sucks that Parents cannot help their kids avoid debt and get a break. Parent Plus loans should be included

@seannasmith5365

9 ай бұрын

They can consolidate with other loans if they have them.

@MRSNVD

9 ай бұрын

@@seannasmith5365 thank you.

@imanigordon6803

9 ай бұрын

A lot of kids don’t have that luxury of leaning on parents so that’s the reason

@tonyadionne

9 ай бұрын

@@imanigordon6803 what do you mean luxury? That's not a luxury it's a necessity. My child applied at a local HBCU in North Carolina and I signed for The Parent PLUS Loan out of necessity, not choice.

I am thankful for the information, but I am about to sell cake, plates, and dog food and possibly put my feet online to get this debt down. I can't stand being slave to the lender.

@tinker2217

10 ай бұрын

Watch THE APPLE MORTGAGE CAKE. You'll be inspired.

@Lil08103

10 ай бұрын

not your feet online, sis 😂

@klhklh648

10 ай бұрын

That movie was definitely awesome

@Intentionaltia

10 ай бұрын

Not your feet😂😂😂

@rosemaryyy5844

10 ай бұрын

sisssss😂😂 ! bLess your hands and Feet 🙏🏽

I started on the PSLF. I then signed up for the SAVE. My loan payment dropped from $167 a month to $70 a month…the IDR was supposed to kick in on January 2024, but they just forgave my loans stating because I have been paying on my loans for 20-25 years.

@Anastasia-kj4bk

10 ай бұрын

They didn’t ask about none of that discretionary stuff. They just asked how much I make a year, which is less than $60k.

@jjthefed

9 ай бұрын

25 YEARS!? How many PhD's did you mortgage?

@Anastasia-kj4bk

9 ай бұрын

@@jjthefed lol none…I did missionary and social work for quite some time so my payments were low and low interest rate.

The government can’t pay its own bills. I won’t be relying on them for help with mine 😂

@NBnNC

10 ай бұрын

U speakin facts 😳🙄

@machsimillian14

10 ай бұрын

Please don't ever believe that. Essentially anything the government commits to is paid.

@shellydevries6083

9 ай бұрын

You speak with integrity

I just paid mine off today, interest free!!!!

@anthonyoneal

10 ай бұрын

Congrats!!!

Just just dropped $50 racks on 8/31 right before interest hit. They ain’t getting be again. I definitely laugh cried when I submitted that payment. But my perspective is also that I’m blessed to be able to do this. Also predatory student loan distribution needs to chilllllll

@lakyshawilliams08

10 ай бұрын

Go girl congratulations

Congratulations to everyone that have had their loans forgiven.. such a blessing from God. Enjoy ur new life!! I will hold steadfast in faith praying that I’M NEXT!! 🙏🏾🙏🏾

I qualify for the SAVE program, and you convinced me to set aside a little bit to chip that debt away. I am excited to see that balance hit 0 one day

@kthename08

10 ай бұрын

I just applied myself 😊

Thank God, my husband paid my sons college tuition so that he has no student loan debt. It put you behind the eight ball in life !

My $41,000 worth of student loans was cancelled. Ive been in some type of IBR Since 2003

@meggrotte4760

Ай бұрын

I graduated in 2003. I was worried I wouldn't be able to pay my loans if I stayed in california Thankfully I found a job overseas. I just came back to renew my passport, and i'm going back. I don't make lots of. Money, but i've been able to pay off quite a bit of my debt. If all goes well in thirty months I'll be done

A LOT of people got their student loans canceled this past year after 10 years of repayment.

Started with a 110k balance as of 2012....really started to get serious with my loans as of 15'-16'....as of today my debt is down to around 36k! COUNTLESS HOURS OF OVERTIME... BARELY SLEEPING...gave up my social life just to gain financial freedom....but I'm SSOOOO ready to be debt free....I think I'm doing a heckuva job considering im single with no kids and no house YET. Yay for me! I just wish there was a much faster way to get rid of this remaining debt......

I watched the video yesterday and I'm returning today to thank you for giving me the resources, knowledge and courage to decide what I needed to do with my student loans. I paid them off in full. Thank you.

Borrowers with parent PLUS loans must consolidate their loans before they can apply for an income-driven repayment plan.

What I always tell students, having borrowed student loans from 4 different colleges over my career, is these income based driven payment plans are great as a foundation. Continue to apply for one through the entire duration of paying your student loan. However, you are not paying that minimum amount. You are still attacking your loans aggressively. What you are going to use that program for is a safety net if some emergency should happen, you are only obligated to pay a small amount. For example, when I was bringing home roughly $64,000 a year, my income based plan required me to pay $343 per month. I was paying $2,000-$2200 per month. So that $343 was my safety net if something crazy happened and I couldn't pay $2,000.

@politicomonsoon

8 ай бұрын

That is the advice I sing from the rooftops because life does happen

I don't have student loans anymore, but the way you broke it down was perfect.

@anthonyoneal

10 ай бұрын

I love that!

Crazy how you could make just a little bit more than you did before and they take everything from you; Medicaid, SNAP, WIC, etc and now with these loans hitting again its just another problem with no solution for those that are falling short but not short enough to receive help.

@latishiabedwards1423

10 ай бұрын

This system is designed to keep you F up either way. You are right if you make slightly over $40k up to $150k for example you no longer qualify for government assistance but now you can't buy food, afford $400 a month medical insurance etc. It's best to stay drop dead broke living on section 8 or be a millionaire.

They just want you to make payments for 20 years with interest. The best thing you can do is to pay them off asap and you can save a lot of money and get them off your back. I followed Dave Ramsey’s plan and paid the loans off and saved thousands of dollars in interest. Sacrifice for few years and be free.

@arlandalewis-twum8724

10 ай бұрын

income based repayment at 0.00 is included as payments

@hm8489

10 ай бұрын

@@arlandalewis-twum8724 So you would choose to stay poor for 20 years just so you don’t have to pay your student loans? If you went to college and have a degree, that doesn’t make any sense. You monthly payment will be 0$ if your AGI is less than 150% of the federal government's established poverty line of $12,880 in 2021. That means your income would have to be under $19,320. Why go to college then?

I owe $2000 and I’ll be free of this debt, it’s been a struggle living from paycheck to paycheck my good God, it’ll come to pass eventually 🙌🏿

I didn’t take out a huge loan. I believe it was no more than 10k. My balance is 4,500. I’ve been holding off on paying because of the pause and all this talk that it would be forgiven. Clearly that didn’t happen but I’ve been saving up ever since they paused the loans so I plan on paying it off as soon as the payment is due. I will be debt free with Everything! I just paid off my mortgage as well! My loans are the only debt I have in my name.

@swhimper

10 ай бұрын

Why wait? If you have it now pay it and be done with it

I think that the government should put a cap on all programs that a person could major in, based on the projected income that an individual can make from that career field. No school should charge over what a person will make when they finish their degree.

@bariatasudan

10 ай бұрын

Someone else on the comments mentioned this. I agree because I feel like I’ve been bamboozled

@rocknjock872

10 ай бұрын

This would be a good thing to do but the schools are charging that much because the government makes it available. Colleges are simply a business who raises their price to gain profit for their product and service because the government is handing out any amount of money to 18 year olds. So the government just needs to put a cap on themselves, but their purpose for this is to get as many young people in debt because people who are in debt are more likely to be controllable. That is why the government is the only lender in the world who will not only offer a payment plan that does not even cover the monthly interest, they will actually recommend that payment plan. They want people in debt, and they don't want people paying their debt off. My idea would be what you said, and to pass a law that restricts all student loans to be under 2%. This will make them much more manageable and the lender can still make some money.

He needs to cancel them!!! There are no jobs after covid that can pay them off!!!!!!! That’s the issue school today is more expensive than it’s ever been in American history or when our parents went to school !!!!

@nanettejohnson6244

10 ай бұрын

He tried. Republicans blocked it. This is the best they were able to do. Maybe more will come later

@josephjohnson1057

10 ай бұрын

It's not fair to the people that paid theirs in full. Everybody read the loan contracts and signed them. I as a taxpayer should not have to pay for somebody that can't do it themselves.

@jamescash887

10 ай бұрын

@@nanettejohnson6244that’s a BS excuse. He had control of congress for two years and did nothing. Why did he wait till they lost the house to try this? Seems like he was just vote buying. They need to fix the real issue which is how much these universities are charging. cancellation will mean nothing if we continue down the same path.

@anthonyoneal I agree with parents not taking out loans for their children, but the government uses the student’s parent’s income until they are 24 years old. If a student wants to go to school on their own merit, they have to wait until after 24 (or one of the other qualifying events to be considered a independent student). Or they have to get private loans. Even if they pick a cheap school, an 18 year old doesn’t have $5000 to put towards college every year. Most parents of these current college kids have students loans of their own so they don’t have extra money to put towards their child’s college. The system is fundamentally flawed.

@Nic2Blk

10 ай бұрын

The Dept of Education on the FAFSA app uses parents income until age 24 or unless you have a dependent or join the military. You're thinking about the Affordable Healthcare Act where you can keep your kids on your health insurance until 26 years old.

@cinnaminstixx

10 ай бұрын

@@Nic2Blk you’re right about the age. Either way, it should be 18… if they are an adult, they should not be required to report their parent’s income!

@mariamonshae2711

10 ай бұрын

@@cinnaminstixxYouuu are sooo right! I’m panicking now. I have $12k left of my own loans(yea I been playing during Covid but Dave Ramsey got me all the way together now) and I have twins that are juniors in high school and I’m like they have got to get some scholarships because I’m afraid they will say that my husband and I can contribute more based on our perceived high income. Whew…

@cinnaminstixx

10 ай бұрын

@@mariamonshae2711 I semi follow Dave Ramsey too. But, the hypocrisy is that he filed bankruptcy, yet has issues with student loan forgives ::side eye:: I have kids entering college without the next 3-5 years and I will be no where near paying mines off and they will not qualify for FAFSA money, so I have no idea how they will attend. I told them, I will not let them make the financial mistake of student loans that I did and if it means they will have to pick trade type careers, then so be it. They can make a lot of money without college nowadays.

@mssha1980

10 ай бұрын

@@mariamonshae2711maybe try 2 year school first then transfer

Amen on stopping loans, College got really expensive after the non dischargable student loan system started. That is why colleges are so expensive. This program just created massive debts for the newest adults in this country.

I'm sorry but I don't have faith in the government anymore with this. I make 90k a year I pay at least 700 a month. I work for the government but the federal forgiveness plan wants me to spend 10 years paying my loans. I can pay it in 2 years max. I hope this can help others but as for me I don't think it's worth it in my situation.

@leslielewis40

10 ай бұрын

They don’t WANT you to pay 10 years. They’re allowing you that much time if you need it. You’re free to do whatever you want. Everyone doesn’t make enough to pay in 2 years so that’s why that program is there. Eat the meat and spit out the bones. 🤷🏽‍♀️

@bariatasudan

10 ай бұрын

Than it’s not for you ❤

All my student loans are private 😢. My goal is to send my children to school debt free. This debt has held me back so much.

My student loan debt was CLEARED.

That end part... I've had my MS degree since 2013 & can't even do what I wanted because my advisors failed to advise me well, despite knowing my career goals. So, over $70k in debt as a veteran, who isn't even employed in my field of study & haven't been able to find gainful employment since then

@pr3942

10 ай бұрын

USAJOBS

@sarah1484

10 ай бұрын

I’m trying to figure out how you’re a veteran in that much debt. Not trying to be a butthead. Just curious.

@jamescash887

10 ай бұрын

MS in what?

I would be happy if they just canceled my interest on the loan or allowed us to use 401K to pay a chunk or in full.

I’ve seen a lot of people with their student loans wiped out through SAVE

If this is the case for repayment, then they should limit the amount of aid that you recieve from the government based on the projected earnings of the field that you major in. That would be equally as risky for the borrower, but the responsibility falls on them to finish the program and follow through. We need to disincentivize people from taking out loans for fields that don't earn enough to even get started on paying back the debt.

@Heyu7her3

10 ай бұрын

No. They should reduce the cost of higher education period. A great majority of our tax dollars are spent on military and not education or infrastructure. But then we wonder why so many are violent, ignorant, and cities are falling apart.

@bariatasudan

10 ай бұрын

I love that idea.

@justinthomas5512

10 ай бұрын

​@@Heyu7her3thank you for the honesty sir.

@Seventytwodegrees

10 ай бұрын

​@@Heyu7her3agreed

@theinvisiblewoman5709

10 ай бұрын

But lots of degrees that are normal and have job security* still fall between the cracks. My college is a healthcare graduate school, PA program is about 35k/year, nursing 25k/yr, PT 30k/year my program is pharmacy and tuition is 51k/yr. For these programs it’s not easy to work and go to school when you spend over 40 hours /wk either in class or on clinical rounds. I worked on and off but I took out more like 72k/yr to cover rent and car insurance and my job covered luxuries. Pharmacist don’t make that much money y’all, I’ll owe for the next 10 years and my city and state is expensive to live in, I have no family to rely on, and I own nothing I can leverage. It’s ridiculous I don’t blame people I blame the inflation of our education… it’s intent is to discourage poor and middle class people from uplifting themselves through higher education. *Note: lots of students use my strategy for loans so they end up taking out larger loans than the cost of their degrees

My student loans were forgiven about 3 weeks ago🙏🙏🙏 I swear I think I got the forgiveness because I enrolled in the SAVE PLAN!!. Prior to that I was on an IDR(income driven repayment? Plan,in which the payment to me was crazy!

Thank you for covering this topic. Your channel is top notch!!!❤

I agree in ending the loan program. In the 70’s federal aid took care of over 70-80% of tuition costs without loans. Now that percent is under 20%. The federal and state government lean on colleges to raise tuition since they have been decreasing state appropriations have become the norm.

@Heyu7her3

10 ай бұрын

In the '70s not many people were going to college either. The aid shouldn't be ended until there's much better support for education.

@terrancee615

10 ай бұрын

@@Heyu7her3 Not true. There was a big demand for higher education because of the GI Bill and more people accessing higher ed beginning in the 70s.

I could not agree more on a loan cap. Great video, thanks for explaining everything so well and encouraging us to attack the debt.

@Heyu7her3

10 ай бұрын

There should be a COST CAP. There's already a loan cap, that's why people supplement their federal student loans with private.

Thank u Anthony for sharing I was surprised my save payment is under $100 but I will also still follow your methods too. Thanks again❤❤❤

The education you receive is not worth the price tag at the moment. People are sold the hope of a great paying job with $80k in loans, and then they get rug pulled when the economy collapses and we need "productive" workers. They make less money and stay in debt longer, forced to work longer because our current system can't sustain itself and you're forced to work until your 80. Congrats on your valuable education

Still go to college….. but go to a technical college and get a trade instead of going to university

Thank you so much for the information, advice and encouragement!

Thank you for breaking this down

I am really hoping SAVE repayment plan helps. My students loans are double due to interest.

@velissalewis5321

10 ай бұрын

Yes the interest is depressing

I owed 185k in student loans. I was in the PSLF program and then applied for the temporary expanded PSLF. All my loans were forgiven 2 months ago.

When are you going to talk about retirees that still owe on student loan debt and what to do to get out of debt? Repayment options, social security payment options, etc. Please don't forget seniors and wealth building and getting out of debt. 🙏🏽

@MamaDee737

10 ай бұрын

Check your AGI number and apply for SAVE program. Most likely your monthly payment will be zero.

It was these senators and Congresspeople who allowed the interest rates to be raised on these loans; did you know that most community colleges used to be free in the 60 and 70 why did that change?

@all_bets_on_Ganesh

10 ай бұрын

If you live in California the answer would be Reagan happened. Prison population doing great though🤘

@yvettemarie4089

10 ай бұрын

Our very cheap vocational schools were combined with community colleges and started to have college tuition rates.

@Heyu7her3

10 ай бұрын

Way more people are attending colleges today than then. Find would need to be diverted from military spending to pay for all the things that matter but yet are falling apart.

Thank you so much for this amazing breakdown! ❤

Thank you for making it make sense! 👍

I had my student loans forgiven a few weeks ago and so did another relative. The amount is absolutely not taxable. Not sure what you are talking about but I have the documentation.

My loans were also forgiven last week. I qualified for 3 programs. 1. Public service loans - They will back date any payments from a public service job before you even applied. I applied for Public Service last year which means I would have 9yrs left - The new program backed dated another job I worked 5 yrs ago. I was approved for 72 payments and would only have 3 yrs left. 2. I also qualified for a program for people with loans 20yrs or older they back date any full and partial payments. They go back to the beginning of your loans. All my loans were forgiven from this program. 3. I also qualified for SAVES but didn't look into it as I had my loans forgiven. Everyone call and asked for all 3 of these programs. I heard they are trying to stop these programs or limit them. I am so blessed and good luck to the rest of you. :)

This is why I’m subscribed to you! I love your transparency. I agree with everything you said. Thanks for your compassion and honesty.

My cousin graduated from college in 2004. Unfortunately, he was in a serious car crash. He was placed on the income based plan and it was Zero payment plan. He has not been able to make any actual payments. He should qualify for disability but he was denied. After all this time and what he goes through, the government should cancel his loan. Doubtful the government will ever get a penny 😐

@missdesireindependance5194

10 ай бұрын

He needs to get a lawyer if he was denied.

@C_Jee

10 ай бұрын

@@missdesireindependance5194 He did seek a lawyer but because he works part time, it would be difficult to get disability. Even though technically, he is disabled. He spoke with 3 different lawyers.

@theinvisiblewoman5709

10 ай бұрын

Lots of people who say “I paid my debt all you have to do is work hard” never take into account injuries, deaths, accidents and other life events that can happen while paying off loans. Most people are hard working and sometimes it’s not enough.

@dqbuiucd

10 ай бұрын

@@theinvisiblewoman5709 Those you mentioned are of rare or minority.

@sallyprzybil2404

10 ай бұрын

If he does get disability they might garnish some of his monthly disability to pay the loan. Just like they do to people on Social Security that have a student loan balance. I took care of an elderly gentleman that had an outstanding student loan, they garnished his Social Security and he was forced to work to make his living expenses. He had to work despite the fact that he was a brittle diabetic (they found him passed out at work more than once), plus he’d had a couple strokes, was in end stage kidney failure on hemodialysis. He’d had his doctor, kidney unit etc ( numerous people) write letters to say he was too sick to pay rhe student loans and that he needed his Social Security, but they ignored all the letters. Now that’s slavery they chase you to the grave.

I'm taking advantage of it FOR NOW... it's lowerd my monthly payment by a lot... I'm taking that savings and snowballing my other debt...then I'm going to come around and pay the student loan off early....cause I don't trust it long term.

@NBnNC

10 ай бұрын

Same

You explained it perfectly!! Thank you!!

@anthonyoneal

10 ай бұрын

You're welcome.

These plans only help if you’re attacking your loans. The help should always be supplemental.

I have undergrad loans and I was approved for the $0 payment.

Im literally paying $10 everytime i get paid. I do service work amd have several clients. I'm proud of my self. Its not easy, but I'm doing it

Great video! Thank you for breaking this down. I’m really uneasy about MyLoan payments starting again, but this has helped. 😊

Recently retired and still had student loans. The loans with compounding interest never seemed to go away. I received notification that my loans were forgiven since I had the 20+ years of payments being made. I can breath a little easier now.

@CoCoDenise

10 ай бұрын

🎉🎉🎉

Thank U for Sharing and Explaining ❤

I got my canceled last month. Thank God

My cousin got hers forgiven under the 20 year provision last week and she didn’t even apply for it. The low forgiveness rate may have been true under previous administrations but not the current one. It may not in the future but if you qualify now there’s hope.

@lionheart93

10 ай бұрын

How much did they pay overall?

If my wife and I just graduated college should we apply for the SAVE plan? We made about 40k during the last tax year when we were in school. We have about 30k in loans. I’m thinking that we could have zero interest then knock out the principal quickly in the following year. Hoping to get a response today. I’m going to be looking more into this after work

Ok so what if i currently have a standard payment plan that is 271 a month but with the save program the monthly payments are 350. Should I continue with standard payment plan? Also will interest rate change ?

Excellent video! Thank you for going over these new student loan programs. I actually signed up for the fresh start program on Friday. It’s a win for me.

My buddy had 70k in student loans left to pay and last week he came in my office telling me he was owed $800. I owe $14k

I read that if you have Parent Plus loans, you have to consolidate them with your other loans. Then you may qualify for the program. Did I read that right?

Thanks for sharing this vital information.

I wish my loans were federal instead of private. Happy for you all 🎉

96k Forgiven, Thank God! Recieved letter in August! In disbelief. I work in Real estate.Ive checked the federal site several times to make sure it's real. Kudos to BIDEN💙

Amen! And thank you for this educational resource ❤

This is the most helpful video I've found regarding the SAVE program!

So enroll in school. Take out a loan the size of your graduate loan or parent plus loan. Then take that loan and pay off the other loans?

I'm so glad someone is giving us information. I didnt wanna pay the loans cause a bihhh aint got it! 😂 but the did present the SAVE plan to me, i just needed more info. Ive been unemployed for the last 5mos and something is telling me to apply now before I start working again. 💪🏾

You didn’t mention that if your loans are graduate only, that the SAVE program repayment timeline until forgiveness is 25 years, not 20. So those of us with graduate loans who have already been in repayment for 8, 10, etc + years MAY not actually save by switching from the PAYE program. Any additional details how to calculate this out? Thoughts?

Thank you so much for keeping it real!! You are a gem 💎 ❤ Bless you!!

this is telling me my monthly payment will be $16... thats insane!

Ok I’m calling them tomorrow. My FL rent is astronomical bcz of uncontrolled increases. To your knowledge, can I send in my lease to prove there’s nothing left over to give them anything? After my living expenses? I am single no dependents. Thanks for your video!

Thanks Anthony well said

Parents with parents plus loans can enroll in the save plan but they have to consolidate their loans and then they can apply to the save program.

The govt is basically saying that if it’s going to help you with your student loan payment then you’re going to need to be struggling in order for them to help. Understand you don’t HAVE to rely on the govt, the amount of money you can make is “X” and you control that variable.

@anthonyoneal

10 ай бұрын

FACTS!!!!

@Tiaffo

10 ай бұрын

"The amount of money you can make is "X" and you control that variable." 💯💯💯💯💯🔥

My cousin works for the irs now but when the student loan payment forgiveness was out she got $60k gone… I thought it was fake 😢😢😢 so glad mines is only 15k but still wish I had it forgiven lol

@anastasiarenaud2568

10 ай бұрын

Thats awesome she got PSLF. Im waiting for my loans to be forgiven I have worked in public service for 13+years.