Should I Take Out a Private Loan To Cover My Rent?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 27 January 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Christy Wright, Dr. John Delony, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.8	Joining me today is Ramsey personality, Ken Coleman.
0:15.6	Tristan is with us in Davenport, Iowa.
0:18.6	Hi, Tristan. How are you?
0:24.7	Better than I should be. Good. How about you?
0:33.2	Better than I should be. What's up? Well, long story short, I'm supposed to be moving to the apartments up near the Moline Western Illinois University facility for engineering.
0:40.0	And, well, I'm not going to have an income while I'm there, and they want triple the
0:44.7	rent an income or a upfront payment fine by me.
0:48.9	Can't do a student loan, so thank goodness for that.
0:52.3	And my family and I are having a little dispute about this.
0:56.0	I'm thinking a gap year to save up as much money as I can and chunk it out like would be best in my head.
1:07.9	And they're going, let's refinance the home and pay for it that way.
1:16.2	What would you recommend here?
1:19.4	Wow.
1:22.0	A different apartment?
1:25.1	I have to go to an apartment.
1:26.7	There's no dorms up there, and it's 100 miles from the nearest campus.
1:29.9	No, a different one.
1:32.7	Okay, so Western Illinois University has an engineering campus, and the engineering campus does not have dorms.
1:41.3	I got that. But the apartment that you have presented has terms that you cannot do.
1:49.4	So find a different apartment.
1:53.0	There's one apartment in the entire town?
	...

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