$200,000 In Student Loan Debt With No Degree And Making Minimum Wage
I am a fan of Dave Ramsey, even if I don't agree with every single thing he says.
Still, I think he mostly has simple and solid advice. I like to watch the clip or two he posts on his YouTube Channel every day.
The other day he had this one lady on that absolutely had no clue about money. Appropriately titled $200,000 In Debt Making Minimum Wage.
Here is a short rundown about her life:
Wow, just wow...
She really is just about clueless. Dave tried to help her, but I don't think she is going to be able to do it.
For any of us into personal finance, this clip is just about as cringeworthy as it gets.
Check it out!
The decisions that some people make just amaze me sometimes.
Let me know what you think down below in a comment.
I also posted this on my new website - www.DoublingDollars.com
I would not have believed that if I didn't hear it for myself... Madness!!!
Thanks for another great post. Hope you are also keeping very well, my brother!!
Hey bud, she sure dug herself a pit - one that is getting deeper by the day because of the interest.
You writing your story still? Been looking everyday for the end parts! :D
it's funny when he starts lashing out at the bad spending habits lol
I like when he tries to tell her that her independent movie is a complete waste of time without actually saying anything directly bad about it.
"not responsible for advice not taken" - comes to mind.
and also "not responsible to seek advice" would fit her college plan too
amazing that these people appear to not have any common sense. I understand follow your dreams and whatnot, but at some point you will get slapped with reality and thats whats happened here.
Yeah @lacr24eem, she is completely without 'common' sense. College for interior design or film? C'mon. There is hardly a need to go to a university for things like that. Once they started the big push to get everyone to go to college was the push to get everyone tens and hundreds of thousands of dollars in debt in their early life.
What's next, degree program to work the register at 7-11?
200k in debt is pretty LOL im in debt for like 12k i cant imagine being in such massive debt people are insane
Seriously, my only debt is what's left of my mortgage. I hate paying interest. I couldn't imagine being 200k in the hole.
i honestly just wouldnt pay it back, would be better off faking your death and living in some 3rd world village as a fisherman
Lol, yeah. The homeless people in her town are better off!
I never had a student loan. Is there a period of time when they 'forgive' it now or is it still there until you die?
I think its almost impossible to have it forgiven these days
If I had the time, I'd try to synthesize these three items:
These loans will be "written off" if the student never gets a job, and there is a payment adjustment based on income, so some debtors will never pay back the full amount anyway.
The schools and the banks get their money, and the taxpayer gets stuck holding the bag.
What makes it worse is the amount of these degrees that are functionally useless...
Yea, the college conspiracy is in full force.
Luckily some people are becoming aware of it. I love when Mike Rowe tells it like it is. They aren't going to outsource your electrician or plumber job to China.
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