Elizabeth asks Dave if she should take on tyro loans to cover classes which she will substantially need to take eventually. ☆ FREE income collection and forms: http:/…


going2sleep March 22, 2014 at 1:13 am

Umm Dave how about going to medical school loan. I don’t think someone will
wait and save 100k-150k to go to medical school. 

Jason Ries March 22, 2014 at 2:13 am

America’s debt for diploma system is a complete and utter failure. There
has got to be a better way. Until there is another way however, many
people will have to finance their pricey degrees, or just go without. I
really do understand what Dave is saying here but I think his advice is
somewhat detrimental here. There are many people with great talent and
passion who could have, do or be so much but a deficiency in financial
resources could leave them without a degree(s) or other specific
occupational licenses required to even get started in many careers. We all
know that money begets money in capitalism and our pay to play educational
system is just another example of that. More and more is being inherited
and less is being earned and these accumulated advantages really do add up
over time. No wonder why privileged children succeed at a far greater rate
than that of those lacking resources, primarily money. 

n2meuc2 March 22, 2014 at 2:48 am

From the title alone.. I totally AGREE!!! Student loans ARE stupid. If I
knew then, what I know NOW… I would NOT have gone to graduate school and
accumulated an additional $50,000 in debt!! I am at peace with my
undergraduate student loans amount. I feel that was a necessary evil.
There was NO college fund saved for me. My dysfunctional family did not
have the means, it was my BEST decision to go away to college and get out
of my neighborhood and break the cycle of drugs and poverty that was all
around me. However that MBA years later was a complete waste.

I am very sadden to express that, but it was! It was easy for me in
graduate school to add to my prior debt because it became “normal” to just
sign the paper for the loans. Debt was my normal during the years of
college. I accumulated so much debt; between the multiple credit cards
that I gained access to and student loans. It was all invisible money to
me. I had NO concept of what I was doing until many years later when I
started pulling my credit reports and seeing the totals. WOW!!!

I am thankful that I am in a career (I work in civil service not corporate
america like I had dreamed to be) where I have paid off all of my credit
card debts. I am now at the last level of debt with my student loans. I
can not wait until they are paid OFF completely! They will be soon… very

John Wasserman March 22, 2014 at 2:58 am

Got Debt?

Chris Jackson March 22, 2014 at 3:42 am

Step 1: “I will not take on debt”.

Step 2: “Maybe I don’t HAVE to go to the 30K/year college. Maybe the
30K/year college wants me to think that, but maybe I should go with the
2,000 dollar/year CC first, live at home, work full time, and then get a
decent job based on the associate’s degree.”

This is coming from someone who went to a big University, got into tens of
thousands of dollars worth of debt, and is now working at a job he could
have got on an associate’s degree at age 20. He’s 34 and will be 45 by the
time he pays off his debt at current rates.

Dave is giving this advice having been to the top, then to the bottom, and
then back to the top. He made his living trying to use debt, then he lost
it all because he was on the hook for all the money he borrowed. He had to
start over and do it all again, the right way. He knows what he’s talking

Stop making excuses. Stop chasing status. Be practical. Learn from the
mistakes of others rather than having to learn from your own mistakes. 

larrybud March 22, 2014 at 4:00 am

The way bailouts are going, might as well take out a huge student loan and
you can leech off the tax payers when we have to bail you guys out! lol

MeanStreak March 22, 2014 at 4:49 am

How does anyone who wants to become a doctor but isn’t already wealthy go
to medical school?

Gwendolyn Bloomfield March 22, 2014 at 5:18 am

Do they charge interest on Student Loans in the USA?

Stan Hamilton March 22, 2014 at 5:39 am

Exactly how are you gonna get ahead in a career field, in order to make
money, you have to be an expert in something in order to make a comfortable
living, how many us can really afford grad school in order to get the
income to stay out of debt?

bandedgorJESS March 22, 2014 at 5:45 am

This is exactly what I’m doing : ) different degree though ! thank you so
much for the advice!!!!

Wanda Castleberry March 22, 2014 at 6:14 am

I hate when people say they are finishing a nursing program and they will
have an RN. You will not! You must first pass the exam given by the State
Board of Nursing. Not everyone who graduates from a nursing program passes
the exam. 

Kellen Mullinnix March 22, 2014 at 7:02 am

Best rant ever imo.

dave phillips March 22, 2014 at 7:35 am

I am 35 own my place,never have owed and i do not have credit or credit
cards and raising 4 kids. also own 4 cars and trucks and have money i work
everyday and i am vary happy. Also I am a high school drop out

Molly Peterschmidt March 22, 2014 at 8:02 am

love Dave and most of his ways, but this one is not nice…He is sitting
there pontificating about loans for education. Minimum wage for 3 years in
high school and beyond doesn’t cut it.. Get a grip some of us have to pick
between retirement and college fund. Getting out of debt from medical
mishaps…and 18months off of work. 

TheHappyFriar March 22, 2014 at 8:26 am

I had a student loan. 100% agree, stupid idea. I could of worked my ASS
of during breaks and when I wasn’t studying for classes, but I didn’t. I
consider my student loan up there with several other huge screwups I did in
life that if someone asked, I’d say NEVER DO WHAT I DID.

Rene Capone March 22, 2014 at 8:40 am

Here’s the deal with student loans. Corporations LOVE debt slaves since it
makes them docile workers who are willing to put up with whatever treatment
is dished out to them. It’s no wonder that corporations require people to
have degrees for positions that 10, 20 or 30 years ago required a high
school diploma. Those positions haven’t changed but employers still want
you to have a college degree even though the person in the position
oftentimes has a degree that has nothing to do with the position. I didn’t
have the funds to pay cash for college and I didn’t qualify for any “free”
money in the form of pell grants so I didn’t go to college and became self
employed instead. I make more than many people I know who have degrees and
I have $0 in debt. No student loan debt, no car payment, certainly no
credit card debt and a house that is paid off in full. I’m in my 30s too.
More folks should try giving the finger to college and pricy degrees in
exchange for self employment and then hire people to work for them who are
intelligent and driven but have no degree. Refuse to hire college grads and
when someone whines that you are discriminating against them for having a
degree tell them that if employers can discriminate against people for not
having a degree then you can certainly discriminate against them for having
one. Tit for tat. A college degree does not equal competence. This country
would be much better off if more employers put this practice into place.

Kevin Wilson March 22, 2014 at 8:47 am

where is common sense in all of this? just saying.

Elizabeth Gillan March 22, 2014 at 9:19 am

I am applying to nursing school and am doing this through community
college. To later get my BSN, I will be using the hospital I work for to
pay for it. It is also a 1 year transition to get my BSN. While I know the
medical industry pays well, there is a less expensive way to get through it
without going into debt.

mwinters March 22, 2014 at 9:33 am

They’re not bad as long as people aren’t being stupid about how much they
take out. I took out $8200 and had it paid off before the 6 month grace
period ended. I accelerated my education by a year, got scholarships, lived
in cheap housing, and saved for what I could. There is no way I would have
the job I have now without my education. My parents did not contribute at

SamNicDur March 22, 2014 at 10:33 am

Dave, I would love to go to college without debt. I have no choice. My
parents can’t help me. I’m working and that money pays the monthly bills. I
can’t work another job because of health reasons. How else would I pay for

search4mygroove March 22, 2014 at 10:53 am

I understand passion but a few less “freaking” responses would be less

simplydebra March 22, 2014 at 11:02 am

I appreciate Dave Ramsey’s advice, but it’s unrealistic on this point. I
has an academic scholarship for undergrad, but I did take out loans for law
school (had to, even with my scholarship) and I don’t regret it at all. He
is a millionaire who wrote checks for his kids’ education and he never says
how he paid for his own college education. DR didn’t even understand how a
FAFSA worked until Rachel was explaining it on the show. Yes, you can “work
your way through college” but how many years will that take and how much
income are you missing out on in the meantime? Please show me ONE person
who “saved up” for medical school…! As long as people are REASONABLE
about how much they take out and actually finish college, student loans can
provide an opportunity to attain an education that would otherwise be

Keith Wilson March 22, 2014 at 11:54 am

Speak on Dave Ramsey!

Scott Jenkins March 22, 2014 at 11:55 am

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