I’m $1,000,000 In Student Loan Debt! | Dave Ramsey

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[Clone]

There definitely needs to be more regulation of student loans to stop things like this from happening. This is insane.

[thedopplereffect]

The scary thing about a doctor/orthodontist in massive debt is that they may be more willing to recommend unnecessary procedures since they are desperate to pay off their loans. Beware.

[MrBrewman]

This poor guy was featured in Dave's Borrowed Future documentary and I think he got down to like 600k now but man what a mountain to climb. The interest being 5, 800 a month is insane. That is a mortgage on pretty nice house. 🙁

[TVHouseHistorian]

I make about $100k a year (sometimes more) as a city bus driver. No student loan debt, no credit card debt, no car debt, and a relatively small mortgage I pay for by renting out my spare bedrooms. Not to brag, but.... Yeah, I'm bragging.

[blaketucker]

I agree with Graham. Community college is a lot cheaper and for your prerequisite courses, it's the same information. $2500 a semester for calculus or $40k at an ivy league school 🙄.

[alfredcguo]

im a dentist and as soon as I saw 1m in loan debt I was thinking that's gotta be an orthodontist or periodontist

[Jdunn-vu]

There's no need for more regulation. If the government stopped guaranteeing the loans, the lenders would look at the post grad income as a part of the risk analysis.

When it comes to college, the banks are predatory lenders. And the government makes sure they don't lose a dime for it.

[aic]

I read somewhere that the student loan situation for dentists is among the worst for any form of graduate school training, although I can’t remember why. Either way, I really, really hope that this caller got his debt down since his initial call with Dave.

[h]

Agreed on loan amount not exceeding one to two years of expected income. My college was about one year of income. I felt like it was a good ROI for me.

[elizabethkahn]

I just finished my accounting associates at a community college last semester and now attending a cheap uni for my bachelor's. I do have some student debt, but I have kept it very low, knowing the more I take out, the longer it may be to purchase a home once I finish school. Thank you!

[Bviews]

“If you don't find a way to make money while you sleep,  you will work until you die”. -Warren Buffet

[pangaeamenslijk]

At least he's got a good income, imagine if he flunked out in the last semester I remember there was another call with I think a $600k loan for a guy who flunked out of medical school.

[ColtonSpears]

I'm really hoping the caller in this video really took advantage of the student loan pause and really paid down towards that debt. He will have saved around 200k in interest so if he went aggressive he will probably save nearly half a million by the time it's paid off.

[robertguidry]

That is insanity. Even at a quarter million dollar annual income. Imagine how many iced coffees that could have gotten him?

[funnyclips]

If society needs people in trades like doctors, nurses, teachers etc. why isn't any incentive for people to keep the cost of going to school for those trades cheap? Anything over 100k for a fucking degree is insane to me? Colleges are loan shark in me eyes if they can prey on young adult that just graduated high school.

[Coffeecommonsense]

Graham, Dave Ramsey doesn't get upset about anyone having a mortgage. He just prefers you get a 15 year mortgage instead of a 30 year mortgage. Also I work with a woman who has $350K in student loans. She went to a private college and used half of her student loan funds for a car, rent, food and several spring break trips. Meanwhile, this woman and I do the same job, make the same salary and I don't even have a college degree. I am also 30 years older than she is.

[feliciafelicia]

This sounds like he took federal student loans to cover tuition, then private student loans to cover living expenses while in school, and lived beyond his means.

[jakeandsarahhealthnuts]

I remember watching this video last year. Graham one of my all time favorite videos of you is actually where you and Dave were interviewing one another about 6ish months ago.

[HELLOPATTAYA]

In the USA, debt is the only language they know. I have never borrowed 1 $ in my life. Boa one day told me I can borrow, I told them what for ??

[dr.brianc.samsph.d]

Graham for economic minister! Craziest debt story I have ever heard of! I hope he gets out of debt quickly. And I hope I don’t have to go to his office! Probably will cost a lot! Great video!