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Borrowed Future

Ep 6: Don’t Bank on Student Loan Forgiveness

Borrowed Future

Ramsey Network

News, Documentary, Business News, Society & Culture

4.86.5K Ratings

🗓️ 4 November 2019

⏱️ 39 minutes

🧾️ Download transcript

Summary

Less than 1% of applicants get their college debt forgiven, so the current student loan forgiveness program is an epic failure. Politicians are making big promises on how they will forgive student loans, but where will that 2 trillion dollars come from? According to Dave Ramsey, Seth Frotman, Seth Godin, Mark Cuban and others, there’s no magic bullet to solve this crisis. BorrowedFuture.com http://bit.ly/2BwX2Mv “Debt Free Degree” Book http://bit.ly/31yOMXb Splash Financial http://bit.ly/2B9rX1b Have you been impacted by student loans, or have you received a debt-free degree? Send your story to [email protected] or call 629.235.0235 and leave a voicemail!

Transcript

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0:00.0

So how much student loans did you leave school with?

0:04.0

I was seven or twenty thousand dollars.

0:07.0

Yeah.

0:08.0

And that was how many years ago that you graduated?

0:11.0

Now about five.

0:13.0

So five years ago you left the twenty grand where you at now with your student loans?

0:17.0

What's the total?

0:18.0

Somewhere around fifteen.

0:20.0

Yeah, because I kind of put them in the firm for a little while.

0:23.0

So do you think the government should forgive student loan debt?

0:26.0

Absolutely.

0:27.0

Absolutely.

0:28.0

Especially if you're paying your taxes like you should,

0:32.0

you're law buying a citizen and you're helping society out.

0:35.0

You know, I felt like student loans should be forgiven.

0:38.0

How much do you think a college degree should cost?

0:41.0

Nothing.

0:42.0

If a student decides that they want to go to college,

0:47.0

that should be that personal choice.

0:49.0

So how long would it take if you made these payments?

0:52.0

Roughly about twenty years and then my loans should be forgiven at that point.

0:56.0

Is that part of the program?

...

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