The Real Tragedy Of Waiting On Student Loan Forgiveness - Dave Ramsey Rant 

I totally agree. But keep that same energy with corporate bailouts.

This aged AMAZINGLY well.

Why did we bail out the banks then?

Student loans should be illegal. Parents, teachers, and councilors pressure the students into taking them so "they can have a better future". 18 year olds imho aren't financially literate enough to sign for $50-100k of debt. That's what happened to me. I'm paying them down, but if $20k is forgiven, I will take it. it's a bad decision that I didn't know was bad at the time. If you are going to forgive them, stop guaranteeing them in the same bill. They're a plague on our younger generations and setting them up for poverty.

A lot of these are nothing more than predatory loans. It's funny how bank home loans are called predatory but student loans aren't.

I'll be the bad guy here. I say, work hard and charge yourself the fee you would pay for your loan, set that aside as a monthly fee. Don't touch it. Hold off until they announce if they are going to pay it or not. If they pay it, great now you don't have to. If they don't pay it, use the money you've set aside and be ready to pay. Either way, keep working hard as if your life depended on it and think they aren't going to pay it. Some of you may not like my advice, and it's fine. The craziest thing here is that the United States of America is called United, but no one here is united. It's every man for himself. So I already know you guys will try to put me on a cross and crucify me for giving this advice, but I'm going to do it anyway.

You will feel great when you pay back your PPP loan! 😂😂😂

"The type of person who says I signed for those loans and I have an integrity issue with not paying back money I owe" -Dave Ramsey (says the person that filed for bankruptcy)

What bothers me is that in 20/30 years, there will be a group of people that didn't save for their retirement, and, once again, we will be going through this whole issue of "you (the taxpayer) owe me a standard of living and if it means that I take from you to do it, then, so be it" And, we will have to demonize those people who did save, sacrifice, plan.

Let me start by saying I love Dave and his material even though I don’t agree with 100% of it and this is the worst I have seen. What I would say is keep it as part of the snowball but just set the cash aside, the instant the judgement is made in the Supreme Court that it isn’t going to be forgiven pay it off, if they end up paying it put that money towards your snowball. To say there is a morality issue with someone taking advantage of something the govt is providing but not pointing the finger at corp bailouts, under spending on municipal needs (schools, FD, PD, etc), over spending on things that don’t directly effect the American populous, and the litany of other govt miss spending is a joke. I have $10k sitting in a special savings account right now and as soon as they say they aren’t paying my debt will be paid, but if they do pay it so be it.

I never believed they would pay student loans.

I guess Dave doesn't have to go on air and say he was wrong. I guess Dave was right the past 3 years on this.

If you take out a loan, you must repay it... if that ever turns out not to be the case, then society crumbles.

People will make $900 Car payments and $200 a month for a cell phone. But wait on a lie about their student loans being paid.

Exactly!!! Now that they have the zero interest for right now… this is the best time to pay off those loans or pay it down !!! This zero interest is the BIGGEST blessing that we are going to get….hurry up and pay them down before they apply the interest rates back on there

I mean what i would do is just put the same amount that we were going to pay on the loans in a separate savings account each pay period and if they decide to delete the debt then great put that money in your main savings account but if they don’t, dump it all on your student loans as soon as they resume 🤷🏾‍♂️ WIN WIN situation

I'm an active duty soldier, and it makes me so upset to see people borrowing money and getting it forgiven while i'm out here working my butt off to get my college paid for. We shouldn't reward lazy people.

Waiting for a politician to save you and keep his promise is like seeing a shooting star and waiting for it to land in your lap.

It doesn't have to be the husband's way or the wife's way. Put the loans in the snowball like you were planning to do. Instead of applying the payments to the loan provider, put that money to the side for when the student loan forgiveness all blows over. OR skip those loans and put the money to the other debt that you have and add the student loans in once all the student loan stuff settles. OR just pay them off. I don't see fault in any direction as long and they end up debt free at the end of the day. I'm not really sure why this is a big deal for them if they have enough other debt to take care of. Wondering if the wife just wants to be "right".

Somebody should cut a video of this but instead replace caller with every venture capitalist from silicone valley who asked for a bailout for their deposits higher than 250000

The real tragedy is that even if the initiative passes, it doesn't solve the actual issue that the cost of education is unreasonable and the entrance to most careers nowadays is through education.

I've heard people make the exact opposite argument referring to legal tax deductions and such for the wealthy and investors

Never ever cosign a loan for anyone.

I got married into 30k student loans, and with our current job situation we can barely meet our minimum payments per month but I'm not setting around waiting on interest to keep plowing us down while all the hoax claims for some type of forgivness happens. We are paying on them monthly until they are paid off, she signed up for the loans therefore we are responsible for paying them off. People need to stop living off the government and other peoples money and pay your own way!

You should pay your loan down to exactly $10k. You should have the $10k saved in a savings account earning interest. The second they announce that it’s not really happening, pay it off … but telling people to pay when they don’t have to and might not need to when they can simply wait and earn a return on the money they’d use is asinine. At this point it’s just schtick by Dave and Team. They know what they are telling people to do makes no sense but they refuse to budge on their hardline rules even though they make no sense given the unique circumstances.

Imagine if Student Loans didn't exist. The amount of people that would need FPU would drop dramatically.

I have a strong problem with the way Dave is saying "integrity issue" about paying them off. These student loans company play us for every nickel and dime they can get from us, give out terrible interest rates but we clearly have "integrity issues" for not wanting to pay them back or waiting to receive help for pay them? As far as I'm concern my energy is matching theirs. They didn't have any " integrity issues" scamming us but now I'm supposed to feel bad for wanting help paying them back?

I'm glad I went to a cheap school, I paid most of mine off early but waited to see if the final $6k of my loan would be forgiven (didn't have high hopes because government = liars but..) I just paid the final balance this month! I think student loans are a good and a bad thing. Its the cost of the education that's the problem, and people want to go to expensive schools because they are status items, so just boycott expensive schools. Of course, a lot of universities and schools have highly advanced research labs and equipment, so we may get slower in that department unless they can secure funding from the government to do those projects...rather than relying on tuition. Its a domino effect, obviously, as all things are.

PSLF and only two years to go! Can’t wait to take that forgiveness!

Definitely start paying again before the court case is over, but call your current provider and see if your loans got moved to another provider and wait for the new account to process, I called and mine did.

Didn’t Dave file bankruptcy and got PPP too? Neither side of the coin is fair to all

Okay, $14k, I thought it was going to be a lot higher. I won't say how much we had but I'll just say it was six figures and we are paying them off, on one income.

If they forgive others' student loans, then I want to be paid back for the loans I paid off.

I work in financial aid and I kept telling people this would not happen.

Save the money that you owe on a high yield interest bank and once the pause is over pay them off 🤔

My fear is, some took that money and bought cars with it or something, thinking they wouldn't have to pay the money back. They're going to be in even worse shape than when the silliness started.

If you thought you were going to make six figures right out of college with your arts degree that cost you $100k+ I don’t feel any sympathy for you. Like the old saying goes “a fool and his money will soon part ways”

Good advice, Dave. You da man!

These so called millionaire studies that Dave is claiming are surveys, not studies. I would like to know how much randomness and representativeness exists in these “studies.” Having millionaire teachers calling in to explain “how they did it,” does not represent the teaching population as a whole.

The government never helped him? What about when he declared bankruptcy, had all his debt wiped out and was given the chance to start fresh? That wasn't the government, it was god, right?! LMAO

PSLF is alive and well.

The type of person that gives 10s of thousands of dollars as a loan to teenagers all over America deserves to never get paid back.

Dave Ramsey was on point but y'all don't like that because hes an old Christian boomer. Sorry he is still right

Yeah, yeah, yeah. Student loan forgiveness is unfair but PPE loan is fine.

Even though it won't become law. What is wrong with taking advantage of it if it does?

I payed off all my student loans in 2020 when there was no interest. But I qualified for $2500 back because that’s how much I payed during the 2020 pause. So I got a check back for $2500 so I am keeping that aside until there is a ruling about this student loan forgiveness. The problem I am having is because I totally paid of my student loans in full in 2020 my account was closed. Now if I have to give back the $2500 I don’t know who to give it too! I heard the fedloan got bought out by who??? I don’t know what to do ?

In my part of Canada, political yakking about student loan forgiveness was a thing in the mid 2000s. Never happened; glad I paid off mine when I did.

don't wait to pay the student loans. Just.....pay them.

I say just create a new high yield savings account and put the $14k in there as you go through the debt snowball. That way if all this doesn't pass you can pull the trigger right away, yet still have all your money if it doesn't pass. This amount of money represents possibly a year of your life ... there's no use just throwing it away.

Thanks Jade and Dave.I believe in having a firm foundation in knowing the blessing of work. I want med a bachelor's degree and more but could not afford the schooling until age 58. In the meantime I could afford a certificate program and associate degree for earnings of a livlihood.😊

I one of the 51% of Americans that actually pays federal income tax. Actually robbed. So I’m taking my 10k if they give it.

I never understood not going to town on the student debt while the interest is paused. you can pay %100 to the principal? why would you not capitalize on that?

Anyone is whining about student loan forgiveness already paid it off and feeling sad and angry 😂. Listen we don’t care about you paid yours.

Someone who filed for bankruptcy to get relief from debt he owed and probably takes huge tax breaks that end up being covered by the middle class probably shouldn't be giving a speech on the morality of paying back debts. His grounds to argue morality is shakier than the grounds for the student loan forgiveness.

I got my college paid for by the gov .. GI Bill is out there

My taxes pay for other people’s stupid kids. I don’t have kids. Not fair to me.

That whole San Francisco reparations thing just drives me nuts.

Pslf student loans are being forgiven. So it’s not if they are being forgiven. You just have to meet the requirements to have your loans forgiven.

No student loan forgiveness. Colleges should lower. After, education is not great unproductive students. Students sympathized with Hamas. No money stops federal student loans.

I have no student loans. Never have. If I did, I would’ve worked like a maniac to pay it off during the no interest grace period. Such a golden opportunity.

I agree with the dignity aspect and unfairness of the situation, but financially it makes sense to wait and see what Sleepy Joe does. If everyone else gets 10-20k off, why not you? I don’t even have student loans.

Is Dave like being paid by loan servicers to keep talking about this? How many videos is he gonna release on this topic?

I'm a special case. I had 7k in loans , paid it. Was approved for forgiveness applied for a refund got it back. Now I have 7k I can't touch or invest until June 30th.

My dad graduated high school in 1944. He was hoping to enter the military so that he could get his college paid for but the war ended. So he lived home for two more years and worked full-time and probably plus. He saved his money and went to college. This is the model we should go back to. The young people are going to college very immature anyway.

The Ramsey network has gotten Public Service Loan forgiveness incorrect. You need to make 120 qualifying payments to get the forgiveness, which means you can still pay the things off early, but you don't have to pay off the whole balance.

People wanting student loan forgiveness then complaining when college prices skyrocket even higher. No different than people wanting to lock down causing a supply shortage then stimulus which made inflation worse.

Very reasonable take and I completely agree with it all. However, they should have addressed Kristy’s question in more detail. She wanted to know if they should hold off on paying their loans and Dave never explicitly stated his answer, rather said that the Biden admin won’t be successful with their forgiveness plan eluding that they should just pay off now. With that I slightly disagree because there was (not anymore) a very very slim change there could have been some forgiveness. Despite the forgiveness being warranted, it is financially responsible for someone to make a decision on paying off their debt when they have a clear understanding on whether or not there would be forgiveness.

If loan forgiveness goes through sometime in the future, there would probably be a lot of hoops you would have to jump through, might not qualify, or might not be worth your time, for what little benefits you receive, trying to say it may not be 100% loan forgiveness, might end up causing more problems then benefit

I love how Dave panders SO much to his Republican followers, that he talks to them as if people cannot pay their own way, AND hope for student loan forgiveness at the same time.

Do you get angry about the free lunch and the PPP loans

All $45k of mine got forgiven and now im officially debt freeeeeeeee 🎉🙌🏻🤷🏻‍♂️ Glad I waited before paying it off 😩😩😩

If you owe the money, pay the money it's not that complex

This is y I was never a big fan of student loan forgiveness

My son wants to go back to an expensive graduate school. Someone I can help feeling in the back of my mind that he thinks the loan will be forgiven some day.

If Ukraine was asking for student loan relief then they would get it smh

Nobody owes Interest.

There is free luch just look at your co-host Dave's daughters they all inherited golden spoin free lunches big houses dream Hollywood lifestyle's

I'm amazed people are still falling for this.

I'm not saying that Ramsey and staff are bad people..... I would continue to save until we get a yes or no.

This is the first video of Dave’s I’ve seen that feels politicized. Go scrutinize every other political policy that uses tax dollars. We are paying for so many things that aren’t up to us. I am putting away money in a HYSA to pay off my loans the day they are due if there is no forgiveness. But it is foolish to pay them off if there is any chance I will have 10k forgiven. And there is a deadline for when this will be decided

00:46 they’re doing it. 800000 people got $39B of relief. More coming.

Sidebar. I miss the old Dave “rants”. This was nothing.

Pay off everything up to the $10,000 and continue to save money into an account so when the debt is due it can be paid. Morally there is barely any morality in the world. Look how many citizens are receiving handouts including corporate bail outs during the pandemics.

Where was your integrity when you filed bankruptcy?

What is wrong with these people? Do you even pay any taxes?

I mean wouldn't it be more wise to set aside all the payments you would otherwise make towards your student loan debt into a separate savings account until the gov makes the final decision? Interest is paused right now so your balance won't be increasing. If it turns out they don't forgive, boom just make a lump payment, if it turns out they do then you now have a great savings account started. Why would Ramsey not advise this?

I went to a #1 University, Process Engineering B.S. An Alumnus offered to pay for my education. There are FREE lunches, I used to get them at grade school.

The Supreme Court will decide by June 30.... WAIT....

Pay them bills folks

As a VETERAN i went in with the hope of the GI bill. Little did i know at 17 in was CHANGED to the VEAP, got out no help. I know i was uneducated on the program. But it isn't up to me to pay others loans

It's an integrity issue says the guy who filed bankruptcy so he could get out of paying loans.

Stash those payments away or if you have the full amount in cash ready to payoff, keep that in a separate account. If they forgive, great keep the money and move on. If they don’t, pay off in full or use the stack of payments you put away during the time and lump sum pay. Don’t pre-pay.

In reality what will happen is that the debt pause will end and they will back-add all of the interest.

Dave didn't take into account PSLF, there are tens of thousands of people whose student loans were discharged via PSLF....especially the waiver.

If you could be wrong you might as well wait and see what happens.

By the logic of most people in these comments and Dave himself: bankruptcy should be outlawed because you signed up for everything you bought with debt, so jUsT pAy IT aLrEadY 🤪

The Govt has no intention of paying off these loans. Don’t be naive.

Thank You! As one who would be paying off someone else's loan. I didn't go to a four-year college because I didn't want a loan and I couldn't afford it on my own. I don't want to pay for someone else's. You got the loan you pay it back.

Honorably discharged veterans should be entitled jobs once they leave service

When she said “I meannnnn…” I LOL’d. She believes it too. They just wanna an easy way out, like no. That’s not how this works. Pay what you owe.