I and the headquarters of rampant solutions brought meaning and stored studio. It's the ram lisa where america hangs out and have a conversation about your life. Your host, christina hellish joined by my co host george, give us a call, tripoli, eight to five five tt, we're answering your questions about your wife and your money and we'd love to chat you so give us the call first up we have David going from seattle, washington, hate able.

Welcome to the show Increasingly, he derives pleasure talking to you guys talking to you How can we help? I guess So I have a I've saved up. I had a bit of money at least quite a bit from me. trying to figure out what to do with the just. To give you a quick background, I have, I guess, nineteen thousand dollars and student loans, and I guess what the whole story forgiveness thing. I'm just come confused as to what to do right now, welcome to the hardy. My friend has a lot of people right. You sometimes out there and soon learn forgiveness world. So what? What exactly is your question yeah. I guess I get. I have picked large saved up just kind of just being for lawyers. with my wife and I had my life new military get for you awesome yet so would I have the ability to pay it off, but I don't

no, it's like right now the time and then were also thanking once you ve got a military one of my house and so what kind of my I know what to do with the excess like she. Should you stay in the savings you we're. Tat were put like some sort of ombudsman account. Do you have any other dat? Now? Ok, is that your emergency fund, in that fifty k, is well yeah so about I guess, the toilet that would be an emergency plan, What's your income so to get together I I make. Ninety my wife makes about thirty six, something like so one twenty base. I great man it's just it's a tricky time right now with student loan forgiveness. So there's a lot of opinions out there. lotta law suits out there in a lot of people, really excited about forgiveness and were kind of in this month where its maker,

I think we're gonna see some movement, hopefully one way or another, and if we don't see movement, the mats concerning so where'd that, right now they said, the applications for in this we're gonna be available at the beginning of the month and then they said is going to be the seventeenth and now they're saying the twenty. Fourth, though it seems like it keeps getting pushed back, they did release a preview of the application, And- and I don't I don't know about that, because it kind of a little bit like dangling the care. Just say: hey it still here, physical movie studio and the movies not done like just put the put a trailer out their replies or time manner, yeah. So I mean it it's a strange time. I mean I feel like by the end of the month. The end of october. We should have some dirty in some direction. A lot of the lawsuits out there. There are some that have some teeth. I was reading this morning that a federal judge is trying to block it in one state and air, their several I think, of six states that are in on the lawsuit, so there's a lot of movement this month. So if it were me- and I don't know correct me if I'm wrong george, but I would probably weight to the end of the month just to see

what happens? I mean we're only weeks away from seeing decision. and a little bit more clarity. I'm not exact! holding my breath that it's gonna happen, because a lot can change next month I mean there's a lot of people who don't think for goodness is gonna happen at all in search. It's a really tricky time, but I would give it may be a few weeks just to see if these applications actually come out enough and if not, then, great that you have the money to pay. It off, I love that, if suit on forgiveness ends up not happening for whatever reason and that you can take them right now and wipe out their student loans. Now? What kind of plan are those still loans herds who's. Who is he added that they're mine? So best case. You would get ten gay forgiven were married, so I thank god, be. Might the format to earn twenty no I'd like earlier thirty originally, but I paid off. I guess

The longer alone does not ten thousand per person per borrower. Did you have a program when you're in college? I I did. I did hear how can destroy so just on your own, regardless of being married, you would qualify for that. If those palgrave you so christina correct me. If I'm wrong, if he paid off today, he could still qualify to get forgiveness if it comes down the road, while an there they're doing the refund, where, if you paid off and you get ready fund during the posse could apply for the refund and then get it forget it, and though I mean, if you want to wait the two weeks and see, if anything happens, I'm personally not holding my breath If I'm in your shoes, I feel good about paying it off. You get fifty came the bank, let's call fifteen your emergency fund. That makes me feel better with your income and expenses. That leaves you thirty five you pay off. nineteen that still leaves you with sixteen narrowed completely debt free. You have a full. funded emergency funding of sixteen thousand the bank now

the time we can start saving on top of that for the down payment, right, yeah and we're so just and quick point to that. not planning on I guess by and for a while. I just cause like the just me the military and that kind of thing here- but I would definitely have the we do so. We just didn't know like a bit better, but it seemed like a thing or should we Look more like a years out where is seven years out attacks? It's like on three years. Ok, three years less! I would stick to a high yield savings account online right now you can get over two percent, sometimes over three percent with bonuses- and that money can grow, at least for you, but The point of this is not to grow at you. No nine, ten percent because, as you seen, the stock markets been a little crazy lately and so people there two years ago said: I'm gonna put my house down payment in the stock market and two years from now, it's grow. So much and I'm gonna get a house one.

crying, because their accounts are down twenty five percent and so It worries me when you have a short time horizon to throw the money into the market. If it's, you know five plus years I feel better about that because over that period of time the money you historically will have grown yeah? How do you think, what's yours eyes for people trying to figure out the best high yield savings account. Where should people put their money so there's a lot of theirs tons of online banks these days, but I get ones that have a long term track record, always make sure it's empty icy, which, it's insured by the government. In case the bank goes bankrupt. Your money, secure aptitude, a few thousand dollars per depositor on the account of your married to you account you up to five in thousand and seven, so the banks do that, but you just want to be careful, because some of these will promise big interest numbers, but they might be temporary. So I've I've had good experiences with ally and with markets by goldman sachs as good, solid, high savings account options. Now some of these

hailed savings account options, their online banks- and I know some people can feel kind of nervous about that. What would you say to can alleviate fear around that That's where it goes back to the proven track record. How long has have these people been around allies been around forever? Marcus is a goldman sachs company. It's been around forever, it's f D, I c insured. So I don't any different azure, your local bank security level, and so obviously you want to have good, fraught protect in and password security and in a multi factor, authentication and some things to protect your password but other it's no different than having heard your debit card associated jakin accounts A great option be careful, though, because

some of these online banks. You can't wire money out if you're trying to close in your home. Do you want to make sure you have a good month window of time to get the money out to your checking account with your local bank to do any kind of home purchasing? It's like Edward george were taking your calls aaa. Eighty five five to two five we'll be right back to the ramsey, show the

what about very angry show we're taking your pals aaa eighty five by two to five. Next, we have kinsey calling brought. No walkie was content taken Welcome to the show hey. How are you guys we're doing great thanks for and how can we help young things were taking my car. my question is: were guardian, keen, upper house I bought a house about a month and a half ago. We the thirty year mortgage, and this before I started with danger. You guys don't owe you a copy poohpooh that arm it is trying to figure out a plan of how we keep hearing as quick if he can just If you get her bulgaria and trying to find some areas,

back on in particular, one area that we're looking at and that, even though we both in back fifteen percent, of our income and I dont know in too much if we should be investing fifteen percent combined or individual great great questions kinsey. So yes, you both want to invest. Fifteen percent, because that fifteen percent of your total household income by the end of the year. I am only in areas to cut. I would not cut investing you guys are doing so great in that area and when we come on baby set four five six. We do those at the same, I'm, she got fifteen percent, you guys have kids, you, ok, so we are fast passing through baby step five now baby sab six, you guys have no debt in the house. No doubt how is beyond our full and a fully funded emergency fund we found out yeah. This is the place to be okay. So how much margin do you guys have right now, while investing fifteen per cent? What is left at the end of the month to throw

straw on top of that principle, three. How are we about like three going on, but we think we can probably throw like at least ten hundred extra month. Added given extra. Ray grand on top of being able to pay a mortgage correct? or the whole. Three grant do other things you're trying to save up for her, I guess, aren't fences just might key and every month we just got in this house. We have suffered by four egg, the train but you know like in want by for the house and other you don't really have like many other expense the travel fond. They try to throw money into travels, one we can take trip you're an error, but no, I guess, to figure out like what the good could save money. We haven't even dream now with ivy league.

Twenty five grand an egg- and I don't know if we should take from that- and maybe throw some of that at the mortgage to go. If that's beyond your goal, for your emergency fund, let's say: emergency fund goal is for for five months and that adds up to twenty grand. That means extra five we can now use for these can house projects for innovations. ok, you can also be stepped up as normal easy. Exactly what I agree and I like separating the emergency fund because all of a sudden, the sale, Malta runs into an emergency and so keep separating you go and is this unexpected? Is this urgent? Is this necessary that if eyes. As a true emergency me wanting to wallpaper the bathroom this weekend, the personal attack on my wife, that is, a true emergency. You know it's arena, save for that separately and you can do it with a sinking fund line item in your budget. So you could say: hey house, repairs and projects I'm gonna put two hundred every month into that fund, so that by the end of the year we have twenty foreigner dollars we can spend.

The total mortgage ya have right now the total its twenty five hundred a month, including taxes to or in their what's alone amount. It's there, three? Eighty nine o clock and what Household income, you probably about like one forty years, I would say around there sera take home. Pay is probably I'm guessing eight or nine grand. What does that come out to tie closer ended up being closer. So then because you're investing more than hits your bank account crack so. One I mean you're, you guys doing great, do still have three grand of margin, but their mortgages. Thirty, five percent of your income every month and that's on a thirty year. As the author is bought a whole lot, a house comparatively to your income and down payment levels, which you will survive, you're in a good spot financially. But

with you, I don't want to have this dead any longer than I have two, and so, if we can pay it off faster than fifteen years, that's the goal so We have a great, really pay off calculator, ramsay solutions, dot, com go jump onto that you can click on free tools. Can enter in your loan amount entered. if the date of your first payment entering the loan link, which for you guys is thirty years and the interest rate and the add on how much extra you're going to put, and that will start to give you a picture of oh my gosh. If we can find another four hundred dollars, we can pay this off three years faster. How cool would that be? you you have experienced with us personally, you pay your house, early ass. We did this december twenty twenty one and we did it at free scream this past january and now as part of the him to us which, where I guess we're just sick people, but we are like always doing the calculations like we can put another four hundred bucks towards this. That speeds it up by this much and this much so I love having a goal saying hey what if we could, it often the next eight years and then try to beat that goal overtime and you meet the people on the stage

debt free journey tends to go faster once they get into it, because it's addictive and they're willing to sacrifice more and more as they get closer. When I think that's a huge key is having that clear goal and having something to push towards, because if not it is easy to go, you know what I think I want that extra throw pillow. I wouldn't want that extra. You know piece of nature. But if you got that clear goal, you got a timeline. You got something that you're really charging towards. They just make you that much more motivated and I'll absolutely and I speak on behalf of all guys and say we don't need any more throw pillows. We don't need any more shams This is a great name. That thing is a sham and you can't even sleep by any of that. Our question of the day comes from blinds dot com find out yours. Why blinds dot com? Is the number one online retailer of custom window coverings? You get free samples, free shipping, with the new promo code. They run every month. You'll stay even more use the power. Code ramsay to get the best deal. Today's question, from Andy in tennessee here

if we say for eighteen years in a five twenty nine plan and our daughter doesn't use it for education. What can we do with that money? the great question so many people are worried about investing because they're gonna. What? If what? If MIKE it doesn't go to college christina rang what's gonna happen, arouse visible, I'm can invest. That's not that's not agree that the best the option, I'm just given I'm just making the impression here. Well, there are a lot of different options that you have with a five twenty nine. If your student doesn't end up using that money, though, for starters, you could transfer it to another beneficiary. So if there's a sibling coming up, that's going to need to go to college, you can transfer that money to them. You could also transfer, Other family members, so her nephew it there very generous. It's very of family members. You can do spouse child grandchild, siblings, parents that parents, nephews, nieces ants uncle and even further hasn't but yeah. I dont think people realise how far out that goes. So there's a lot

options. I'm? U can also say that money for a future educational needs. So maybe your student isn't going to college right now. Maybe they don't wanna for your education right now, but maybe in five years they go hey. I changed my mind. I want to go back and get assertive I want, though, to trade school or even if they are in college, and they didn't use all that money, they could go to grad school so that money could get used later on. and then you can also save it for a grand child. So let's say your kid doesn't go to school. Maybe that's an educational legacy that you leave for your family later on, and I would just make sure to highlight with that to attacks broke as there are some implications with skipping generations, but you can still added up and away where that foot. That fund is available for future children and then also a really cool thing. Is they have penalty free scholarship withdrawals? I love this lot of people. Don't know about that. A lot of people don't know about this, so check out that cause and use that money without some other juvenile demands and challenges that if I get a ten thousand dollars scholarship than the five three monoplane was a waste. No, you

withdraw ten thousand dollars from the account to your bank, account again that scholarship with no penalty, the highly exactly so and also Does you two still pursue scholarships aggressively? I think some people who have five twenty, and plans are like here. We ve already saved up this money. My car doesn't really needs. Scholarships will still go for the scholarships, because if they get those scholarships that money can go to something else, they can get didn't go to their wedding down, pay a house or something in the future, so still keep the motivation for bow and remember if you start investing, you know, there's in this example from a zeroed eighteen and you just put two grand a year in that thing, That's thirty! Six thousand over eighteen years, while the girl on that account? It could grow up to a hundred thousand dollars, which means the majority of the money in that account was all growth. That's amazing!

and even if you only have twenty five dollars to invest, I think we took a call a few weeks ago. Somebody's like I only have this tiny bad. Is it even worth that, yes, twenty five dollars a month is way better than nothing? So you know be much lower the power of compound interest exactly or taken your calls. Tripoli, eight to five five two to five. This is the real issue,

right now is the time of year when its make or break when it comes to our goals for having into holidays these in and let's be real, it's hard to stay motivated. We all have goals, whether its to find a better job, make more money pay off dead. stronger relationships and it can be hard to keep up and I m going, but here's the good news coming up in a couple weeks. We one of our biggest events. Smart conference were headed to doubt spread day long jam pact event, where you'll get advice from leading experts on money, personal growth, career, mental health and your marriage. you'll be with all the knowledge and motivation. You need to reach your goals and live the life you want join me in the rest of our ramsay personalities, Dave, Ramsay, John bologna, can call men and george care more and rachel

To get a plan for your money, your relationships, personal growth and career, join us live in person on we're twenty. Second to get your passes, for they sell out visit, rapidly solutions, dot, com, slash events to get your tickets to day, just almost a week away? I assume that saward, it's gonna, be a good time live band highly entertaining. I did my rehearsal yesterday. Oh I'm excited so I'm feeling good about it should be a good time and if you are, if you're, not in Dallas, I want you to know that people travel from all over the country to join us. For this, and it is so worth the drive the flight, whatever you gotta, do, bring the family, it's gonna be a good time. It's going to be so fine all Next we have thyssen calling from idaho falls idaho haiti's Welcome to the show Thanks for taking my call, I appreciate it. Hey thanks for Colin. How can we help.

so first thing out, is one. I wish my wife a happy birthday. It's her birthday today has been went out Wow My question has to deal with aesop shares that I received in front of my company, my company is an aesop company and whether or not to count that, as part of my fifteen percent going into retirement hmm great question. So how much do you have? as far as shares, yeah. Right now that's valued about. Thirty thousand, ok,. I would not count that as part of your fifteen percent, but I love you have em. How are you fully So could you your cash out today? As far as catching out. I don't believe so. the only way you can redeem while shares the company. There. Isn't

option to all them into what called it an east. For one came to my you're standing. Ok, but I, I'm not sure. If there's, if there's a way, I can actually cash that norm until I got traditional irey, ok yeah do your homework on that I personally Some of these programmes can can be great cause you're getting stocks at discount, but if cash and not immediately to kind of get you Return on that worries me because of the volatility. Obviously orchids companies you believe in it, but see stocks in general are way to volatile. For me to be put my money and, and so from a just thirty three, in view, I go oh boy. This worries me, so I wouldn't count as part of your fifteen per cent. You have any other retirement options. Air, like a traditional four one, K roth for Ok are, you left the line. I was having get back, aristo, others there are higher. ok, so you have fallen k as well. Yes,

currently contribute fifteen percent until a raw fallen case. Well, perfect will continue doing that and then are the shares that mandatory. How does that you support, for you? Are you putting extra additional money into that too, by the stocks are discount, so basically, as the company as profitable, a certain amount of shares are given to each employee based off how well right. So, like a bonus kind of a profit sharing situation, yes vote, like a company match type of thing, but I dont know if that was different from Four one can match to aesop chair, life is keep do what you're doing Fifteen percent of that roth four one k- and I see this as icing on the cake- this is gravy when you leave, you got a big pile of cash from the stocks and I would cash out as soon as you're able to and that way you have more control over it. You can put that in good growth, stock, mutual funds, index funds and it's way more diversified way, less risk. Thanks for the call,

next, we have no I'll calling from knoxville tennessee, hey, no, Welcome to the show things. how guys I'll try to be as clear as I can and pleased questions at any time. My They passed away earlier this year. I leave you might have tabled fifty two year old brother. Who is disability I without a home and with no inherent hence on to care for him. Ah, how can I and my other brother bench try to care for, financially moving forward and possibly set him up for better care I'm so sorry to hear about your mom and that decision, when your brother, you know left dealing with here So how old are you know, I'm forty eggs and I have another brother that is forty seven and this brothers, fifty q so you would currently living with my mother was a dependent on her

and she actually potent the house into a trust which is supposed to be sold and distributed amongst other beneficiaries, so he does not have a home at this time by anything that she had looked over. She kissed her bigoted completely to others and inheritance to what you have to others. Other family members, things like that. So basically, those that will benefit from the sale of the house in the trough would be like the eight grandchildren other money that she might have had in retirement? the two are possibly a sister and things like that was anything left to your brother, nothing, we ve got to my brother myself with my other brother. At such times your mother talk to you about that and why she started up their way He did not know

So is this a surprise? They you when she passed and they want a wife, does whereby skip get it wise to everybody, and we tried working with some of the kind of figure out if there was something that lies, gun improperly if I could get out in a nice way and and there's nothing we can do at this point, though now moving forward. We just have to start taking care of things and making sure that he has the care that he has in this You're an he is on a text income. Ok, what is his income. Am, I believe, be breaking the pact no eleven hundred a month, The ability and possibly of history, Where is he now where's? He living I so right now he is currently living in the home before it is be filled and we're gonna go on. I what's next, we gotta get em, some housing we currently are have opened. Both of our house is my brother and myself. He was the michigan and island and hennessy

they ve been option. We're looking more men agree how we take care of his medical needs moving forward, I know probably a strict budget of his arm disability income. Definitely at last I was thinking passably looking q, the long term care insurance, but I do not know that he's gonna qualify because he does have some some current disability. Here I would reach out all right. Zander tele see what the options are big. It was disability and see what he would qualify for to help out the situation centre. A housing. He can live with one of your long term right. You can't get it who act will probably have to modify our homes slightly odd things like that. It's so he can. But I guess any deaths have you got here? He met a care, but we do not have that probably not the past.

In the long line on nursing homes, care things like that, so that while we wanted a kind of look into, what can we do now in the future to possibly get? You know, look at more, maybe in home care if he did, how can we possibly go about doing not now setting up beside the possible long term, a carriage hurried out other up anybody know it does in a full time care? What's that situation like yeah the moment he does not like. Ah it something or his body is deteriorating as the days go on It's something and stuff like that of the future. How soon that we don't know that we get. We do not now well for now Slow me how situation figured out collect gand. that thing sold then

Have him move in with one of you whatever makes more sense temporarily, while we do our research to our homework, look into the different insurance plans, talk to her friends, Xander and figure out. What's the most affordable option to get him the care he needs right now, if he needs more then later on down the road, we do more homework and figure out how we do that later on, but you guys getting in a financial position between you and the brother talking about this. How are we going to handle this financially legit wiggly, making a plan for all of that. That's the best thing you can do right now for him, but I'm so sorry, you're put in this situation. That's a tough place to be, but you sound like a great sister for sure. Thank lyrical will be right back. This is the ramsey show the.

Our scripture, the day is, do not judge others and you will not be judged for you will be treated as you treat others. The standard you use and judging as the standard by which you will be judged map you seven one through to their. the day as those who judge will never understand in those who understand will never judge Wilson candy me welcome back to the ramsay show. This is Christina Alice george joined by george camel at next. We have the task from fort lauderdale florida, hey what the show I figured he Michael christina george- are you thanks for common were great. How can we help so I'm a long time listening for some collar, I decided

they can do- is call to action and called in it were you ve, been on the sidelines, you can think about going today's your day. Recalling man, how can we help what's goin on I've been doing they wish for a while, and I was dead, three enjoyed decided to request a refund. Oh my god, it towards my student loans that their needs and twenty twenty and the amount I am expected to receive is thirty three down in five hundred and four dollars hold up you. You took the whole thing here: what made you decide to take the whole thing? so I recently purchased the candle- and I just figured there help me as much money as I could have would help with the remodeling of the home, and also just keeping up with the payment of the house, but you worked really hard to pay it off,

You are super motivated to path student loan, initially correct, and then what kind of changed since then I just like I had this like each you get into real estate, become a real estate investor and in grow. My words to illustrate how old are you, refusal. Ok, did you did you watch of a few too many tick talks? Is this what happened nor are actually really big on podcast. Now I've been there two other real estate, part gases. Here, ok, Well, the good news is this is a reversal decision. Right, hopefully, haven't spend this money, yet no, so they're still I have received the ok. Well, the good news as soon as you receive this money, you're gonna go back and pay off that thirty three thousand yeah hit the brain hit the brakes immediately, send that money back you are robbing peter to pay Paul. This is like you

cashed out my for one k to by real estate at a cash out, refined to get another property and down further into debt you're moving backwards instead of forwards, and it looks on pay. like your doing better, but now we sit here only thirty three there were have payments on we're. To make payments on this real estate property that were hoping we get a tenant in and make money off of. and so there is an order to this, and I want you to get to real estate. We love real estate around here, but there is a time and place to do it and that's ones completely debt free with a fully funded emergence. fond, and I want you to have your own place. First adhere other debt outside with the thirty three He does free. I owe my car- and I just have my mortgage payments every month. Ok, what's It's left on the mortgage loans, though I just purchased Lastly, I mean they're a month now, ok, what left on alone seven dollars! Ok,

What's that monthly payment, mostly, be me thirteen hundred. Ok, what's yours, the company he called me remind is about five thousand dollars, the first jobs. I do oh nice. I am assuming that on a thirty year. Yes, ok, so right now, you're payments are about thirty percent of your income on a thirty year now I deal out of steered to the fifteen years. The only mortgage, however, recommend the payments, no more than a quarter of your take on pay so about a good chunk of your world right now is in his property, and I would encourage you to attack that when first and then save up and pay cash for any real estate property by in the future for investing yeah and you done this right, like you were on the right path. You have felt this motivation and The thing is bout stew,

that you paid off its already, it's only been paid off, and now you can say about money and do this the right way you can go through babies sport through sex, you can pay off a house. You can then go on to baby steps, seven and build wealth in give warning talking about someone. Who's never been motivated to pay off debt. We're talking about someone who's done it before dawn. Losers way now: you're sharp twenty six year old guy men. If you had a carp payment- and you are twenty five thousand on alone, you pay off twenty five. Would you then, as soon as you became debt, free go out, take another twenty five thousand all alone for fun, but there is also the new thing that the government is forgiving. Twenty two, ten thousand dollars of college the two hours. Maybe I could take it ass, a big. be in right. Now, you for sure are back thirty, three thousand dollars and debt. That's a guarantee! Elsa did you have a pilgrim. My last, unless the idea of their qualifies me, I I would figure that out his arm.

a program, you should qualify for twenty, but if you didn't it be ten, but regardless you still have more debt. Over and above that, you're still further into debt. With the extra thirteen. Even a forgiveness happens, I think the good news is you done stupid. But you can still get smart. Yes. This is reversible. If you Choose! Please, please! Please do not go on get investment property, while you have this mortgage, while you have the stool loan. This is, I waiting to happen and you called in because you felt like this. Not a good idea and I hope we convince you that this was not a good idea and that we slow down, and yes, may be years before you start becoming a real estate, guru investor, but it signed up, down the podcast telling you to go up to here, I bought dead, so you can have this amazing life and have outlaws cash loan, passive income. It's a lie from the pit of Hell. Mateus don't fall for this. If you need to obviously those podcast for awhile. That's probably thing to do on georgia's. That's kind of my

fear with all of the student loan forgiveness is that it somehow going change people's perception of dad so that they think, ok because they well. They forgave it that time. So, I'm just gonna bunch credit card eggs, a private forgiven right. That's not a hollow rights now, if not help eggs, and even just that mindset shift of ok, I have ten or twenty thousand dollars were given. So now I should ask for a thirty three thousand dollar refund. This drive me crazy and they make thing, I'm angry about was soon learn. Forgiveness is not people getting help, not at all it's the precedent that it sets out. I can t, go into debt biggest someone or forgive it down the line, and it's not my problem. Many we ve lost, all accountability and responsibility as a society, because decided to go. You know what I mean source all my problems. I saw my problem you guys may be in debt. No, you sign on the dotted line wrecked any need to this injustice, loans with credit card with car payments, and we have to making better decisions for a future that our future selves would high five us for

and rarely in history has debt benefit. You, look back and go man. That's what really saved me is going into one hundred thousand in student loan debt and having a car payment that was blessed financially, no When you don't have any dead, you make different decisions. When you have to use your own money, you may different decisions when you have to college and pay for it different decisions of where you go to school. Right will now the thing with the income based repayment programme variations to it, where its capped at five percent, your income, the danger and risk is, and that is that students in the future will go oh I can just take out as much student loan debt as I want, because it's going to be it's going to be only five percent of my income. So why not live in a fancy house off campus? Why not max? now my meal plan, because it's going to be kept, I don't have to see what happens and the colleges go. Oh, my gosh guys we can raise prices, a thousand percent because the kids are going to take out as many student loans as it takes to go here this life and their own gonna pay five percent alone. With a ring and so it doesn't matter. That's the sky,

part is run and continue to see these numbers skyrocket, yeah the trickled down, at the long term repercussions, I think that I am not saying that there were bad intentions in it. I think there were good intentions, but what are the long term impacts? What's going to be the ripple effect we've been fighting for so long with borrowed future with the thing we been doing to get students to go to school debt free. We want to change perspective and help people realize they don't need debt to get their education, but it's gonna scary thing How is this going to change? People's perspectives is gonna? Make people feel a little bit free and easy around debt and just think. Oh, it's not a big deal like others. thirty three thousand dollars jack is easy to access and convenient and a short cut people continue to take it and so time

the government to stop guaranteeing this risk free on behalf of the steward loan companies, terrible idea right and if you are a parent or you are a mentor, someone who loves a student encouraged them to go to school, that free and also, if you have some one in your life, you a student loans and is waiting for a reef and remind them that they still have money beyond that refund, they have to start paying and janeway like there is still responsibility around. These are at this point that the first hour of the reins he shall in a but they banks to everyone. In the mood to my co host george camel anti eu america thanks for listening, we'll be back, then do you love a good day ran want to see the latest ramsay show that he was going viral check out your favorite moments from the ramsay show on you to watch subscribe to the reins he showed channel few enjoy this pod gasped. You should check out other great podcast from the ramsay network like borrowed future, not so fun fact. America has a one point: six trillion dollars do loan crisis and is out of control on george camel host of the borrowed future podcast. We uncover the underbelly of the student loan industry and show you what you can do about it. It will inspire you to see that it is possible to avoid stew loans in graduate college, get free, listen to borrowed future wherever you listen upon cast its james producer of the rams issue. This episode is over but check the episode notes for links to products and services you heard about during this episode. Thanks for listening