$250,000 in Debt for a Degree I'm Not Using!
ฝัง
- เผยแพร่เมื่อ 20 ต.ค. 2024
- $250,000 in Debt for a Degree I'm Not Using!
Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: www.youtube.co...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
www.youtube.co...
• The Ramsey Show (Full Episodes): www.youtube.co...
• The Dr. John Delony Show: www.youtube.co...
• The Rachel Cruze Show: www.youtube.co...
• Anthony ONeal: www.youtube.co...
• The Ken Coleman Show: www.youtube.co...
• The Christy Wright Show: www.youtube.co...
• EntreLeadership: www.youtube.co...
Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
Yes daddy 🤗🤗🤗😩
Im jk
Don't refinance federal student loans. Bad idea.
please
@@samysamy566 i see you on sneako comments
@@samysamy566 bro stop 🤣
Next caller: "I just learned that my boyfriend is $250k in debt, should I dump him?"
hahahahaha
I mean it sounds like shes working less than part time, as an adult with no kids, so she probably isn't as worried about this as she should be...if she knows.
I think she doesn't lol.
You win the internet for today!
This comment needs to be sent to the hosts of the show.
Lol
$250k for an education degree? To teach elementary school? Don't elementary school teachers only make like $40K per year?
Was thinking the same thing. Willingly goes into a quarter million dollars in debt to get into a field that's notorious for being underpaid. The guy's probably doing better working at the bank than what he would as a teacher.
Don't get me wrong, I think teachers are important. This is kind of a whole 'nother discussion though, I think there should be some kind of program where education for teachers is subsidized in some way to incentivize people into doing it without penalty of crazy debt like this.
Philly teachers' salaries range from $45,360 to $91,852. Teacher's aides get paid anywhere from $14,716 to $30,110 per year. Union schools districts.
@@landgin3781 just Googled and the median salary for public school teachers in Philly is $62k. That $90k figure is only reserved for the most senior-level teachers that have been doing it the longest.
That's not a bad salary per se, but that's a horrible salary if you paid $250k to get it.
I wouldn't want him teaching my kids.
@@pkal244 Wow, I wouldn't think Philly would be so high. Here in New Mexico 60K is the top tier veteran teachers.
This call just got worse and worse...
It was really like the conversational equivalent of a highway pileup car accident
It was him saying that he just found out that she is pregnant
I agree....
And your life is perfect
When u heard this guy ua getting married, u can't help here, he is down for
The fiancé who has a good job!.... but not really because she works one day a week. Lol
250k that’s a mortgage... he basically bought an invisible house he can’t live in 🤯
I have to laugh but it's not funny.
🤣🤣🤣🤣🤣
This comment killed me... at the same time, it's a sad reality
He can't live in it, and he can't declare bankruptcy on it.
Even if PSLF does work, he's not using the degree to work a qualified job for it.
More like a cage he's trapped in...
At that point your better off running away to another country.
I already told my Gen Z child that she is to stay away from expensive universities. If she can go to on school on scholarship or pick a more affordable school then that’s what she is doing. Plenty of people became millionaires by not having a fancy degree.
The main value of expensive universities is connections. Like a degree in psychology from Harvard will be better than one from University of Rhode Island, because you'll meet people who can get you linked up with the other people that can take you places (money and career is a social activity). But if you're spending beaucoup bucks for a degree like El Ed, you're straight doing it wrong.
+Mitzi73 thats exactly the advice i preach too. i think college degrees should be prioritized but you should be smart about it. my networth is now over 6 figures. i never had any student loans and so i graduated debt free. i did whatever it took to make sure my tuition was paid like being frugal with partying and food, staying at home to save money from rent, going to a community college first before going to a university, etc
Yup good choice of words for your daughter. My wife and I have 2 community college AA degrees (glorified high school diplomas) and started working hard at 22 years old. I’m so happy we never took out any college debt. It took us a long time in our jobs to create wealth but we are a few years from millionaires status at age 40. College is pretty much a scam at this point in America.
@@theflightsimulationexperie6894 i wouldnt say its a scam, more like you just have to be really smart with the decisions you make for college. And some jobs require a college degree like doctor, lawyer or engineer
yes we need to encourage community colleges first then transfer to in state university.. no private schools cause those gonna financially ruin you
I like the Doctor, "Let's take responsibility and move forward with a solution."
Agreed. It seems like he puts all the blame on his lender. He asked for the money and they gave it. It seems like he would have rather have them deny him. Not practical at all.
@@teeteeshouse The loans they give you are on a school yearly basis. They don’t give the full amount all at once. So he had to go back every year and reapply for them until he was well into his 20s
Take accountability for your actions. You applied to this school knowing the cost. You took out the student loans. You knew you wanted to be a teacher. You knew teachers didn’t make a lot of money. You could have gone to a state school. These are your choices, don’t blame others. If you want to blame someone, then blame your parents, they should have told you no.
He doesn't want to have the debt conversation with his fiance because then he would have to tell her that he's 250k deep. She does not know!
That part.
Oooooo, that is a solid assumption.
He needs money stat, he should start an onlyfans 😭🤣
@@Jashleya199 Girl do you have an only fans??? I'd make it rain on you!
@@user-ok6ef9zn4f no, gross. I have a career.
He has to take responsibility, but he is right. The loan system is PREDATORY! Where else can you borrow $250,000 with no collateral?
so true! its horrible!
Agreed! Should've denied loan
This guy has lost hope, and I sense some serious depression.
Stand up straight, and make it happen brother
With the amount of interest. He is literally loosing more daily then gaining. And I gotta respect that he's been trying different side hustles and if his debt wasn't that stupid. He probably would've payed that by now
It's not over until you give up. There's always a path forward
Start an e commerce business???
Really? I'm actually afraid this guy doesn't realize the gravity of his circumstances.
@@leadnsteel1428 horrible advice.
He doesnt even know whats happening with his fiancé’s work. What a knob.
yea... he sounds like a knob for sure
Im guessing you lads are British? 😂😂😂👍
He doesn’t know his fiancée very well
He will regret that too
Just like he regrets his student loan decision
Bingo 🎯
He seems to just sign things without thinking of the consequence.
...and his girlfriend isn't going to be happy as his wife, either!
Shiftless
@@Neddie2k really can’t feel sorry for this guy. He bought it all to himself
He owes $26k a year as the base, he isn’t even touching the interest with that... he needs a 100k job
Yeah but if he negotiates or refinances he could get a lower amount and maybe 25k will cover more.
@Johnny Five the country is going to end in a few years anyway.
@Johnny Five Anything is possible but if the government has you by the balls don't expect them to let go.
Private, prestige universities with 50k tuitions are for future Fortune 500 CEOs and the children who are about to have corporations passed down to them (like Ford and Walton Family). There is nothing fundamentally better about these schools except for the high networking effect. At these selective and expensive schools, your classmates will be high income earners more times than not. He clearly did not utilize the benefits of the school. The education degree they offer, that he majored in, is for people who will be on the board of multi-million dollar education companies, not actual elementary school teachers.
I have a degree in elementary education and i had about 50k in student loans.
After taxes I was taking home $423 a week. I was infuriated. I left education and got a job in sales and this year I made over 200k. It should be against the law to loan future teachers the money we do, it’s heartbreaking.
May I ask what sales you do
No it shouldn't be illegal. It's not the government's job to stop stupid people from hurting themselves.
@@TheFishingNomad loaning someone 200-300k to get a job making 35k… maybe me saying “it should be against the law” is a bit much but their should be some regulation… kinda like a mortgage.. you can’t get an 900k home when you make 40k… it’s almost predatory to let people set themselves up for will be financial failure
We really don't want laws to prevent people from making stupid mistakes. YOU knew how much money you were borrowing and YOU knew what average teacher salaries were so YOU should have known BEFORE you graduated and got a job that the numbers did not make sense. Sounds like YOU blindly went into it because you didn't know that a student loan would have to be paid off and you didn't PROJECT what the payments would be.
@@curiouscat3384 yeah I knew that because my parents were both college graduates and financially literate… I believed what I was told… go to college and get a degree. Had someone like yourself talked me thru this before declaring a major I would have chosen a different major. Ultimately, leaving education, was the best financial decision I’ve ever made.
What is going on here in this call? Getting married and all this debt, fiancé works 1 day per week 🤦♀️ what are they doing???
Exactly my thoughts. That’s a recipe for disaster
Sounds like a typical democrat entitlement voter. The people who work full time will bail them out.
@@gatewaysolo104 What an asinine and politically biased comment. Most democrats are hard working people. People on both sides are willing to sponge off the system.
Simple answer - get two or three jobs!!
50% of marriages in America end in divorce. This call right here is exactly why. Imagine tying the knot with someone only to later find out they have hundreds of thousands of dollars in student loan debt for a degree that not only are they not using it but even if they did, they would never make enough money to pay it off
I don’t see a way out of this unless he’s willing to work 100 hours a week for the next 5-6 years assuming his fiancé is on board and they don’t have kids
No “game plan” is going to fix this. He needs to change his identity.
I really wish Dave had answered this call so we could have seen his reaction to $250,000 for an elementary teacher education.
Like...what was his rationale?
This is a situation where he probably needs to consider moving in with his parents. This is an emergency.
I would go hardship deferral and live with parents.
Meanwhile scope out career options like drug rep, etc.
How I would look for a position where a lot of travel is needed. Sometimes companies will pay really well for jobs that require you to travel a lot.
@@karimbennett5651 im sorry but im crying 😂😂
They don't account for the insane interest rate
His responses regarding fiancé showed a lack of interest. He’s in big trouble.
Man, I nearly cried listening to him. The thought of being up to your eyes in debt with no visible way out - my god!
If you're here and haven't gone to college yet, please be careful about the educational choices you make!
You can sell the house, you can sell the car - but you cannot sell that degree!
If you have a degree, even in something you can't get a job in, it's a lot easier to get into another degree.
Off the back of a BA I got into a Law and IT degree, graduating from the latter.
The organisation that selects students for degrees believes that getting one degree is a good indicator of getting another (which is not the case if the fields are totally different).
$250k for elementary education? Good lord.
That’s irresponsible. How could he not know he would have to pay it back?
@@joyaustin6581 Probably thought student forgiveness was the way out.
I bet he will have this Debt for decades. Every school kid should be made to watch this as a warning about taking out these loans.
But! But! How am I gonna pay for 4 years' of good times when I'm in college?!?!?
@@raallen1468 dang idk
Great comment Ian. Elementary Education? Here is my advice, get a Security + book, get the cert and get into computers. He could be making 100k in 5 years.
What department?
And I thought my 30k automotive student loan was a lot. At least I’m making 100k to justify
I make 100k annually without a college degree. Student loan debt must be awful to have hanging over one's head.
Brother that’s incredible! If you wouldn’t mind what do you do? Im young and want to be smart.
I’m 23 and make 70k but I sacrifice my time to work 50 hours a week.
@@jeesejames5916 are you a truck driver?
@@miguelrobb5719 I am not. I am a Ramp Supervisor.
@@gen_jose3380 He goes on TH-cam and brags about how much money he makes without a degree. That's what he does. Whether or not it's true, I have no idea, but that is what this guy does.
This guy could have gotten that degree with a community college for less than 1/5 that price or at the very least started there, but that's too late now. His tuition debt is the same as what my home is worth.
True, but the name appealed to him
I am sure they had ECE's Associates in CCs. You can teach children with that degree.
You typically need a Master's degree for teaching. It's dumb. My husband was in education for a little while, with a Master's degree in education. He's in plumbing now.
This guy is completely clueless about everything.
He's waiting for "Joe" to pay off his student loan.
"Joe" will steal from "un-educated" blue-collar tax payers to bail out Snowflakes like this guy.
@@raallen1468 - Even Joe is only saying they'll pay something like 50k in school debt. Still hundreds of thousands of dollars of bad decisions left afterward.
@@colin1818 "That" is the problem of the borrower.
"You" borrow money; "You" pay it back.
My sons worked their way through school + scholarships & 1 grant.
One went via G.I. bill after serving 9 yrs in the Army.
I realize that I can't stop DEMONRATS from giving away my tax dollars to widdle snowfwakes, but I sure as H do not have to act happy about it!
@@raallen1468 - Hey, you got no complaint from me. I paid back the student loans on two full bachelors degrees (mine and my wife's). Completely agree with what you're saying.
@@colin1818 Thanks. Not too many "young folks" share our view about paying off their student loans. 🤷🏼♀️
This is why community and state colleges are gems. Cheap $101 per credit in comparison to universities which can go up to $1000.
I got my education for like $2K a year from a city college. Never had debt. Make 150K
Should change his name to Miguel Sanchez and move to Mexico.
Lolz but running away from his problem is not a solution
@@unfairsanic5089 If he runs away it becomes America's problems
@@unfairsanic5089 it actually can work.
1. Find a way to make at least 1,000 a month online with remote work from companies/sources that are not American and don't do business in the US.
2. Move to a country that will let you have residency with whatever online income you make.
3. If residency by that path proves too difficult, move to a country that let's you do visa runs where you can live there indefinitely.
4. If step 3, find someone to marry who is from that country.
5. If step 2, you can still marry someone if you like but find a way regardless to move from residency to citizenship in new country.
6. During your path to get residency and citizenship, open a bank account in that country that doesn't have a branch in the US.
7. Put all your money in that bank and have your online income be deposited into that.
8. Get english teaching certification so you can get a local job teaching English if the online income thing ever fails. That way you have a back up.
9. Get a second passport while pursuing residency and citizenship.
10. You're free. You got a second passport so they can't force you back to the US. Your foreign bank account with no ties to the US can't have money taken from it. Your income can't be taken by Uncle Sam to pay the loans.
@@mattmehaffy6349 Wow impressive, so detailed.
Lol bangin idea lol
Go to trade schools instead. Much cheaper and less time. Universities are overrated.
Not everyone wants to do a trade. Community colleges will also be much cheaper
Learn a trade requirement hard work. Most people do wants to go out in the hot sun to repair a phone pole or get dirty working on the farm.
They want a job that is easy like a desk worker.
@@socku5850 not me... my dad was a programmer and software designer but I couldn't do that... just doing math hurt my brain lol. I couldn't do it or software stuff
@@socku5850 hard work does not necessarily equal better pay. You are also breaking your body and setting yourself up for old age medical bills. You must balance the two. Unless you're studying a high paying field like engineering; which has high pay and less labour intensive, then I agree with getting a trade. If your trade takes a lot of labour, have an exit strategy... like taking classes on the side at community college to get you to a more hands-off role.
+Kristy Whittaker trades have a lot of cons too. i think they are overrated. vast majority of trades ppl i know that are in their 40s have broken down bodies and are extremely grumpy and cranky. if you go into trades, then you shouldnt complain about your life 20 yrs down the road. i got a college degree and i was smart with my money and now my net worth is over 6 figures and i am on my way to retire as a millionaire. i never had any loans or debt in my entire life (other then mortgage). i made sure i did whatever i could to make sure my tuition was paid in full like staying at home so i didnt have to pay for rent. to me thats one mistake a lot of ppl make. moving out at 18 seems like an ego thing as it gives ppl something to brag about. smarter thing is to move out after your college degree, unless your studying abroad.
Ah yes, a Dave Ramsay classic
I was just going to comment. “Classic Dave Ramsey.”
Took my thunder from me. 😂
250k in debt killing this man spirit 😢
@Johnny Five you mean the future American taxpayer by way of the national debt?
He thinks the quarter million is his biggest mistake. Wait until he faces the consequences of getting married to someone he knows very little about.
250k to become an elementary school teacher. Dude community college is enough.
I remember a guy who went to Ohio State to learn puppetry.
Their faces when he says that he's getting married 🤣😂😧
For what its worth, its too late for this caller. If Dave Ramey Inc is honestly trying to help people, they should focus on high schoolers not getting into this situation.
I'll never understand going to college for a degree you will never use
Exactly
Easy. At 17 or 18, when you are applying for college, you might not actually know what you want to do for a living. Pretty easy to understand if you ask me.
@@srccar You can go to college and get a degree that doesn't cost a quarter million.
srccar I’m getting the backlash everyday sometimes but It doesn’t affect as much. I’m just trying to make the best decision for me.
I bet she doesn't know about his student loan situation either
Lol I think that's why he wants to know what collectors would do because he is weighing the options. And he is probably considering just letting it go to collections and it was hoping the answer would be that they would just go away and he could pretend he never had them
I like the blame game, i know so many people who think this way.
Ha ha. Who would study a degree for 250,000 for a job that pays $20000 annually.
Exactly.
Student / Guidance Counselors encourage young people to go into debt for “ Worthless Degrees”
@@jonyoung6405 don't forget their parents
Its a shame. 240k for a career that will pay less than 50k. I dated a nurse who was 160k in student debt, she made around 50k. Its a shame for the people our society depends on to get in these positions
A nurse can work as much overtime as she wants. Also working in a large city hospital the pay scale is much higher.
A nurse making $50K?? That doesn't sound right. Are you sure she was an RN?
Moving into corporate training would combine both backgrounds: banking/finance and education. He should stop calling it "elementary education" and just call it "education."
Take accountability for your choices. No one told you to go to that expensive school to become a teacher. You could have gone to a state school. His parents should have told him no. Children need to hear the word No.
250k on elementary education? There is NO way!!
This is exactly why teachers in public high school need to have a mandatory class on finance and student loans to teach these impressionable young people the pros and cons of student loans going into college. There is a whole generation of young people out here with insane debt because no one informed them before hand the consequences of their college choices and the debt that comes along with it.
And where are these parents at? Why do these 20something year old people act so dumbfounded when they realize they can’t pay their 100k-400k college debt on 30k a year? What kind of parents don’t inform their children of the financial consequences of going to college on loans? It’s mind boggling how so many people call Dave that are in immense student loan debt and can’t figure out why.
This is my issue. It’s the students responsibility to learn about it. We live in the most information assessable era ever. No excuse tbh.
Won't lie, this gave me anxiety hearing all that debt
I was eating lunch while watching this and almost spit my food out when he said his fiancee works one day a week.
How dumb is it to allow a teenager to sign for an unsecured loan for a quarter of a million dollars?
Exactly Exactly
This dude is going to spend the rest of his life as a student loan defaulter.
@Johnny Five LOL Wouldn't that be something. I can see him now denying loans for people.
I love the fact that Dave is giving a lot of space to young professionals (Anthony and John in this case) on his show.
They're coached and required to give "Dave answers" though. They'll never break away from the baby steps and always have to give advice that falls within the Ramsey plan. You'll notice on some calls where they'll defer to Dave when they're not sure what he'd say, because they don't want to overstep. And at times they will (accidently) say things that Dave disagrees with. If he's with them he'll politely correct them and they'll immediately concede the point.
Now, Delony is a little different. He's not a finance guy and is there to talk about the relational questions. He's definitely more of an expert in his field than Dave and you'll often see Dave just let him talk. It's one of the reasons I enjoy him so much, because I really feel like you're hearing what he actually thinks instead of needing to stay within defined parameters established by the Ramsey Group.
At least the dude had 4 years good time at BU spending the 250k.
Insane to take out debt like that for a “degree”, and then not to even be using that degree!
Just a suggestion...I heard online tutoring teaching English as a second language for international students pays pretty well. Someone I know that did it was able to juggle it with her along with her full-time job since she either taught late at night or early in the morning. Don't give up Max!
Not very well. I think 5 to 20 dollars an hour
@@deepfakesforreal9487 Aww okay. I haven't looked into it myself. Hopefully he can find something 😓
@@deepfakesforreal9487 Better than nothing... or sitting around drinking lattes and texting on his -- I'm sure expensive -- smartphone. And because he has an education degree, he can leverage that -- and the testing that's available -- to earn more than the minimum. He might be able to get up to $30 an hour, especially with that education degree.
My friend makes $20/hr at VipKid
He needs to file for the income based repayment to lower his monthly payments that way he doesn't fall into default while he tackles this mountain.
Just leave the country and start a new life in a developing country like Philippines, Thailand, etc. Ignore the debt completely. You can't be extradited for student loans. You can teach English and could make good money with your teaching degree. The women there will see you as a catch.
Good thing that my parents are smart they brought us siblings in the philippines to go to a university that is far less expensive than what people are trying to pay their degrees over here in america now we dont owe anything from banks and enjoying our hard earned money
Why isn’t he asking any questions not about his life , he doesn’t know about student loans, he doesn’t know about his fiancée, he doesn’t have a plan about combining income in a new marriage. . . Does she know what she is getting into to. Can he pay attention
He could be numb to this whole situation. He's probably thinking that there's no point in even caring because he believes he'll be in debt forever which he might.
@@beeezeee1783 I've heard many people basically speak in a resigned way, that they'll just make their income based repayments for 25 years, try to save a little bit for the tax bill once it comes (if you take out $200k in loans, pay nothing but interest for 25 years on IBR, the $200k balance is considered taxable income), and ignore it otherwise. Like buying houses, starting families. I'd say it's sad, but a lot of times these situations are entirely preventable. They just have too much ego, or listened to bad advice, or both.
@@beeezeee1783 you could be right, my thing is he is overwhelmed now . . After the 250k.
If I borrowed that much money and felt overwhelmed, I am not walking into another legal, financial contract without
Knowing everything.
I am not doing this twice. Nothing worse than paying back 250 k with a spouse who may have debt also, with God forbid this marriage does work. . . Now he has alimony and child support.
He has to wake up to the decisions he is signing up for and fully own it. . . Or it says someone else’s fault forever.
Marriage is a financial commitment. .
Imagine spending 250k at university instead of investing that in stocks/mutual funds/ ETF’s/ or putting down a huge downpayment on a nice house or townhome smh
I didn't believe it. Just looked it up. It costs $78,000 per year to go to BU
Once he has this conversation, he won’t getting married in December. He’s in major denial about this debt.
He can also create online courses or sell his teaching plans. There’s a lot he can do.
He’s not even a doctor or lawyer... I wonder if she’s aware of his financial situation and that she’ll be slaving away paying off someone else’s debt 🤦🏾♀️
No kidding. My sister also has 250k in student debt. But she's a dentist and makes over 200k a year. She's going to have all her debt (student and consumer) paid off in three years and then it's off to the races.
Much harder to do that with a 40k per year teaching job.
The look on their faces when the caller said he's getting married!! LOL Great job with the advice Anthony! John's advice at the end was exactly what the caller needed to hear!
People like this are why any type of loan forgiveness legislation should never be passed. Too many people like this the tax payers will have to foot the bill for.
His fiance will not want to pay off his debt...terrible that they suggest he'll have 2 incomes to pay off this mess.
@Johnny Five Yeah that's actually the funny thing. All these kids wanting their loans forgiving not realizing that forgiven debt will all be treated as income for the IRS...rude awakening...the government isn't going to give you something unless it profits them.
"Why they approved that, I dont know?"....LOVE the Dr response...He got checked and quickly! You made a big boy decision to take out the loans...now you wanna cry like a baby.
AO’s reaction at 05:45 priceless lol😆
Yes, it is! LOL 😂
Practical advice here...I am a teacher and with my BA/MA combined I used to owe about 82k. Simply put: the suggestion of 'doing some tutoring on the side' isn't going to save this guy. If I were him I would look at the possibility of teaching at an international school where the benefits package usually includes transportation/rent. Many schools offer a salary of around 3,000 dollars a month and he could throw down perhaps 2,500 a month on his loans and make a real dent within a short period of time.
This man will be in debt the rest of his life
He should break off the relationship, it’s not fair to this young Lady
His question was "what are the creditors going to do?"
These two are absolutely unqualified to answer that question.
This is one call that I'm glad Dave is not there to answer.
@Johnny Five especially that dude in pink, he just repeating what Dave says and he's annoying af
This poor guy is beating himself up so much, I hurt for him.
His fiance is gonna be running with "gazelle intensity" when she finds out how much debt he has 🚪🏃♀️💨
then he can return the ring to pay down some of the debt.
Love how the boys were so focused on the solution!💯💫
A degree is not the end all be all, you can still be successful without it. Some people get a degree just for the sake of it
Yeah its become more of a "status/social symbol" more than anything
@@signsofthetimes886 oh well... quarter a million for a status symbol... he might as well buy himself a ferrari. At least everyone can see
@@signsofthetimes886 well you can say that about anything. i know ppl who went into debt just to buy expensive sports cars for bragging rights when they know nothing about cars in general. its just having a sports car for the sake of it.
@@maximustrolleus9860 that's very true. The exact definition of "keeping up with the jonanses"
Max just doesn’t care about finances. Lol I see a divorce in his future
@1 courthouse wedding 💒
This is the way...
Weddings are expensive if you let it be. Keep it small.
@1 because this is Max
@Heinrich Himmler Then she can get a second job and can wait until they can afford the wedding she wants? Big weddings are a waste of money. No one is entitled to that any more than they are a dream vacation or an overpriced sports car.
Sounds like a nightmare.
Max is an example of how clueless and uninformed students these days are with college and career path. Take your time to know what you want to do with your life after high school. College is a business and is not always the answer.
This made me cringe... I told my bf I don’t feel comfortable with marriage with 50k worth of debt and he’s skipping into marriage with $250k? Sending good vibes sir
There is no way he can pay that off with that interest. NO WAY.
He should put the dog on EBay and the cat on Craigslist! 😂
To the caller, don’t lose hope!!!! You got this man!
And to think I was thinking about applying to his school when I was in high school. Glad I dodged that bullet.
The tutoring idea was pretty good! Usually the whole "deliver pizza" thing isn't really my favourite thing to hear every time someone calls on here. He could set his own rate and get a few clients, or work at a tutoring place in the evenings. Perfect way to use his degree.
$250k for a degree u could have got for $20k with 2 years of community college and 2 years state school plus teaching credential . 🤯
No one is listening to hear the solution. We listen to hear the problem so we can feel better about ourselves.
I mean dude doesn't even know what's going on around him....how could he keep up with a loan this large.,
This guy needs to sit down and refocus EVERYTHING in his life. He is 250k in debt, and has a fiancé he doesn't seem to know that well. He needs help beyond finances.
I feel like I have too much debt and I owe less than half of this with a house, while making significantly more! Yikes! 🤣
This is one of the worst calls I can remember. I went to art school for 2yrs, split the 30k loan w my parents...and when the career didn't look like it was going to happen I would break down and cry, feeling like a complete failure, and that I'd wasted my parents money. (it worked out, I got that job and 20ys later making six figures) I cannot begin to imagine the weight of this... I do think student loans should be dischargeable in a bankruptcy. That will keep people from going that route who can pay but just don't want to, and be an option for guys like this who have no chance of ever paying it off.
What's your occupation?
@@MT-yx5cu Environment Artist for a fantasy game series.
You should have done your research before signing . You only have yourself to blame
this guy sounds like his head is just filled with air 😳
@Heinrich Himmler Poor guy I feel bad for him 😔
There must be a brain in there because he had a concussion
Hey man! If you read this you should look into tutoring. My friend opened up his own business and is doing well! Good Luck! You got this!
I find it appalling that you would get engaged to someone and not know if they have any debt.....................
Or what their work situation is! She's working one day a week, so is she only getting paid for one day per week of work?? Does she not do anything else the other days?? Too many questions with this one!
He doesn't want to have the conversation because then he would have to tell her that he's 250k deep. She does not know!
Apparently happen a lot more than we know.
This is honestly one of the worse I’ve heard. Feel so bad for the kid. He’s a lifer if he doesn’t take massive steps
There are so many red flags in this call it isn't funny. Sure, going to Boston College is cool & gets a lot of ooo's & ahs but so does a Ferrari. If you can't afford a Ferrari, you can't afford BU. There are HUNDREDS of more affordable colleges for a teaching degeee especially in the northeast. And the next red flag is why isn't he teaching? If he were teaching, he would have good benefits, summers off for another work gig or work on Saturdays throughout. Third red flag he shouldn't be getting married yet. He is totally clueless what the fiance is doing. Redflag: She probably has no idea he has this much student debt..... Red flag: These 2 aren't even on the same page.....Redflag: Then she is going to get itchy for a house and then finds out how much debt you really have.....This is like the blind leading the blind. AND who is paying for the wedding???? Go get a teaching job and a part time job on weekend or a few evenings a week. Amazon is hiring!!!!
This is why you should have patience before rushing into random debt for something you don’t love😂
If his degree is in elementary education, why doesn't he get a job as an elementary school teacher? The pay is a lot less than business, finance or banking jobs. However, if that is what his degree is in, he will likely have a job for life and retire with a good pension. Whereas other industries he will be subject to layoffs, especially since he does not have a degree in those fields. Northeast states like New Jersey (where he lives), PA, NY, MA pay teachers pretty well compared to other states. He can get a job at nights weekends waiting tables or bartending. He can use his summer break to work a seasonal job like landscaping, etc. It will take a while to pay off the loans but its dobale.
CONGRATS ON 2 MILLION DAVE!!! 👍👊👏 You are a smart kind man much love from metro Detroit!
At least he acknowledges that going 250k in debt for an education degree was painfully stupid
2:52 _What else can you do?_
He can teach kids for 60k/yr.
Seriously! If he brings in an extra 25K per year, like Anthony suggested, its going to take well over 10 years to pay off 250K, when you tack on interest during that time.
Exactly. There's plenty of people right now looking for tutors for their kids, he could make a killing
@@arthrodea except the interest on 250,000 is extraordinarily high each month. I don't know his interest rate but it will likely add at least 10k every year, over and above paid off principle.
@@alicelaybourne1620 Oh yes - easily! My student loans were at 7% interest rates... 250000 x .07 = $17,500 per year!! His best bet would be to try to refinance them privately to get the interest rate down to around 3% - but even then it's 250000 x 0.03 = $7500 per year. :-O. That's why I was estimating "ten plus" years since the interest makes the situation worse
This guy doesn't care about consequences and just signs whatever he can see. That student debt was a pretty bad mistake but so is his relationship. They don't even know about each other's debt or their jobs.
I liked how they stopped him from blaming someone else.
I drive Uber in Boston and see what a large number of students come to Boston to. Partying! Once they graduate for stupid careers that they weren’t sure that they wanted, then the bill comes. Going to BU, BC, Northeastern etc is fancy and full of great parties but there is a price!
He needs to be like the characters in the film Parasite and find a wealthy family to sponge off of, tutor the kids.