This is the Ramsey Call of the Day, part of the Ramsey Network.

All right, so I recently spoke with our lawyer friend on the line, Gerard, and he had some regret about stroking the check to pay off the rest of his $106,000 student loan balance

because his lawyer friends were clowning him saying, dude, they're going to keep pausing

student loan forgiveness.

They're going to keep pausing the student loan payments.

What are you doing, man?

Just leave it alone.

What's the point in paying it off?

And so we just got when that the Biden administration is kicking the can

down the road again. That's what they're alluding to. Now through the end of August, they are

pausing student loan payments. And let me tell you, the people that come here and do their debt-free

scream, so many of them have said, man, that student loan pause helped me pay off my

debt faster because we attacked it with a vengeance while it was paused. While we didn't have to

make payments, while interest wasn't accruing, that helped us get ahead and make extra payments on

principle and knock this thing out. And you'll hear people in the borrowed future documentary go,

I took out $120,000, but it turned

into $200. How did that happen? And it's all because of interest. That's how this works. The average

student loan balance when you graduate right now is $38,792. Keeps going up. Average loan term about 10 years.

Average interest rate about 5.8%.

And so me and James, the producer, and Ben and Zach, we're in there.

Just being nerds, just crunching some numbers for you, America.

And I want to report back some interesting findings.

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