Dave Ramsey’s Epic Rant About Student Loans

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[ViceCitizen]

One of the things we have to change is the mindset of the “college experience.” The idea that if you didn’t experience football games and fraternity parties, you missed out on life. College is too expensive to treat it like a working vacation.

[chadlee]

Have been screaming this all along.. The whole "if we are going to forgive them then you shouldn't be giving them", Our government should not be in the College Loan Business

[wordsrwind]

Dave and Rachel are the best duo! Absolutely love their dynamic 😂😂😂

[ovidbowie]

Love my Ramsey rant mornings. Cup of cheap coffee, doing passive side-hustle, and listening to this man get worked up on facts.

[kleindropper]

That's my favorite argument; they advocate for bailouts while still offering the loans. Do they even know where the term "bailout" comes from? They keep filling the boat with water!

[jakemueller]

I’ve got to give Dave a ton of credit here! I’m entering my final year of my masters and I’ve been debt free up until this point (community college years 1-2, blessed to have a college account for years 3-5) but for my final year it was all up to me. Prior to watching Dave I was in the “I’ll just take out a loan” mentality…but after listening I decided to stack up all my classes for my final year into one semester (long story short it cuts the bill by about 10 thousand) and decided to drain about 70% of my savings to pay for it outright instead of taking a loan! Thanks Dave for getting me on this path!

[billd]

There are two sides to this story. My daughter got into graduate school at MIT. I told her I could not pay for it. So she borrowed $70K and two years later got both MS in Chemical Engineering and an MBA. She then got a job working for a well know consulting company, more than doubled her previous salary, and totally paid off those loans within 2 years. Today she is a vice president in a large health care company making a huge salary. Only use debt to buy an appreciating asset. It worked for her.

[caitlinross]

I appreciate having Rachel in these conversations, she is very much in touch with our current cost.

[sallyprzybil]

I went to Nursing School at Community College. One thing I looked at choosing the school was their passing rate on the State Board Nursing test. They had a 98% passing rate. Excellent! But the course was hard, half the class failed or dropped out after the first semester. Not me, despite the fact that I worked about 30 hours a week, and was a single mom of an infant, didn’t drive a car and had to take the bus everywhere ( I was never late for school), I graduated with high honors. And passed the Nursing State Boards with flying colors. And I immediately had a job, a paycheck, and a career……. And NO Student Loans!

[SLangel]

I love Dave’s tough love… it feels awesome to hear parents acting responsible and giving their kids realty checks.

[karunakarjena]

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[janecornard]

I know one thing for sure, starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.

[chrysiarose]

College was originally designed for the sons of the wealthy and nobilty to be educated to become sophisticated and intellectual among their peers. College was never supposed to be for job training or jobs - which is why colleges offer courses in poetry, philosophy, etc. Corporations decided that training employees is too expensive, cuts into profits, so it's cheaper to make the employee pay for their own training and education. Now everyone thinks that's college equals jobs, but it was never intended for that. Universities never figured out how to become job training centers instead of honing the knowledge of the elite.

[SachinSinh-zjyt]

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[sidwhiting]

Our kids will be going to in-state school and paying for it with a combination of scholarships, dual enrollment transfer credits, money they've saved up from working, and the scholarship of Mom and Dad. We have been telling them for almost 4 years that we're not co-signing any student loans, and the scholarship of mom and Dad only applies if they don't get any debt either. It really does force you to look carefully at what your options are and make wise choices, whereas debt allows you to skip past a lot of carefully planning and just make stuff happen.... with little regard to the final results.

[northwestWW]

I went to college and almost everyone I went with changed their major 4-5 times and then dropped out. These people racked up 10k in thousands for nothing!!!!

[vickieclark]

Dave, tell us how you really feel. LOL Love Dave. The bluntness is great. Those Dave Rants are epic.

[EricMoore]

Not everyone should go to college. College can be a really damaging experience in many different ways.

[matildaadamec]

It's the whole education system. Who can afford $5000 per semester without assistance.

[GAFB]

From reading various comments, I think this needs to be said and this is my take.

Legally it may be the parent's responsibility to pay off the loans full stop. BUT if I made a verbal agreement with my kid about payback of the loan and my kid fails to honor the agreement, I have failed as a parent way beyond the money I owe for the student loan. And my kid's word will be no good with me in the future until they have proven to me that they are trustworthy again. Trust is easily broken but hard to repair.

Honoring agreements (verbal or written) is one hallmark of good morals and, character.