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The Ramsey Show Highlights

My Dad Says We're The Reason He's Broke

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 1 July 2025

⏱️ 10 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought you by Y-ReFi.

0:04.1

Refinance your defaulted private student loans today at Y-ReFi.com slash Ramsey.

0:10.2

I have a question about Parent Plus loan.

0:14.5

My dad took it out for me and my two older sisters. And I've since graduated.

0:21.9

This was 16 years ago that I graduated.

0:25.8

But anyway, my parents are getting to retirement now.

0:30.4

And it's basically like my dad always finds a way to throw in there that like he's paid on

0:41.1

these parent plus loans like our whole lives and just like um saying that it's the reason that

0:47.6

he's broke and that he doesn't have money for life insurance and he's you know fill in the pinch of like retirement and um i basically don't know

0:59.2

what to do um because i don't really know how much he owes it's all like he just likes to throw it in

1:05.9

there and kind of like he's upset about it but my mom won't let us pay them because basically all three

1:14.1

my sisters, if we can't all pay, she doesn't want any of us to pay them back.

1:19.4

What was the original idea? Was the idea we're taking out these parent plus loans so you

1:27.0

all can go to school and this is our gift to you? Or was it said from the beginning, we're taking out these parent plus loans so you all can go to school and this is our gift to you

1:29.3

or was it said from the beginning we're taking these out in our names but you guys are paying them

1:33.7

was there a agreement do you remember so it's been a long time and I don't really remember what the

1:40.1

agreement was for me um but I know for my oldest sister, I just recently talked to her about it,

1:46.8

my oldest sister, who's eight years older than me, she said that when she, when they first did it

1:52.0

for her, it was kind of like, we'll pay for the parent plus loan while you're in school, but then

1:58.0

after that, we want you to pick up the payment. So did she pick up the payment?

2:02.3

She did for like maybe a year.

2:04.3

And then when she got married and she had a baby, like my parents kind of just like relieved

...

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