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Myth: You Need to have College student Loans





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24 comments

  1. If employers are not willing to reimburse your student loans (under the conditions that you graduate in four years or less, make good grades, and work for the company upon graduation of course), then your degree is not in demand and is unnecessary.

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  2. Join the military. Great educational benefits.

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  3. She worked 20 hours a week while getting an accounting degree and after working her way up, she now makes $15/hour? And she got a 4.0?
    Gee, I wonder why her pay is so low for a 4.0 hard working accountant… Maybe because Pensacola isn't even accredited.

    And a person getting through a degree in business administration with a job is very believable. It's not that hard of a degree. Business is also the most common degree in the US, so his salary is a reflection of his hard work and ability to stand out by the fact that he did well with a full time job, not the degree itself. Good for him.

    And Rachel has a BA in communications studies.

    I'm pointing all of this out because I've seen what happens to my friends in engineering who take on more than a small part time job – anyone with more than 30 hours a week will suffer with their GPA; how much is the real question. They also seem to die a little inside. Not all degrees are equal, and these cases won't be the same for everyone (especially those in STEM fields).

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  4. I am at Weber State!

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  5. And the first girl has had no fun life experiences in her first 25 years of life.

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  6. I think the true moral of this story is to not go to school using loans for underwater basket weaving or some other unusable major. I was blessed to be able to graduate from undergrad with zero debt, but just finished graduate school and now have ~$50k in student loan debt. It sucks, but I was able to secure a job before graduating last month and will be able to pay off this debt in less than 2 years.

    Student loans don't have to be the absolute demon that people make them out to be. They are awful, but can still be worth it – just like school. Grad school was a terrible experience, but without a doubt it was completely worth it. Student loans must be utilized in an efficient way, but far too many people use college as a time to party and have almost no responsibility.

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  7. I don't believe these stories. Especially the 1st story. That story is so unreal, and is ridiculous to use as an example for Americans to do. That doesn't happen to an average student or American. She got a 4.0 doing all of that and she stated she's been moving up the ranks pay rate and everything, as a part-time accountant getting paid 15 dollars an hour. Gee how much did you start as an accountant. Someone who graduated with a gpa of for 4.0 as an accountant wouldn't be working for 15 dollars an hour. There's a lot missing in this story

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  8. try going to medical school without significant assistance and graduate debt free…it would take >5 years of odd jobs full time to scrape up enough money. Just accrued the debt and paid it off in 3.5 years

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  9. Everything he's saying is so wrong

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  10. My wife never got student loan. She goes to school on daytime, and works at night.

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  11. Currently going through what she did. Working 40 hours at one job and about 36 hours and my other job, but Im going to school studying engineering part-time which will take me a bit longer than 4 years.

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  12. $5,000 a year for tuition and room and board?! Prove it….

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  13. I got into a top university and gained about $30k in debt getting an engineering degree (my parents paid for a lot). I graduate in a few weeks and have a job that will allow me to address this debt without a problem, furthermore the job is extremely interesting (missile defense work). My courses would on average consume 60 hours a week with, 80 at peak times and even then my grades weren't perfect. There is literally no chance I could get a job so it was debt or a different school that would not offer comparable opportunity. Their example woman went to Pensacola which is an unaccredited joke.

    I just can't see the logic in Ramsey rejecting debt as a tool in some cases.

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  14. Dave, 'give' Faith her dream job! She'll be an awesome addition to your team! Very inspiring!

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  15. 5:19
    A 4.0 GPA in Accounting, while going to a private school entirely on your own money, working during the semester and working extreme hours over the summer? This Faith really is a unicorn. This is so far removed from me I can't identify with it.

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  16. With certain degrees it is very difficult to work while attending school. Many degrees like those in the "hard" sciences, create for schedules filled with labs and classes from dusk to dawn 5 days a week. Also, with these degrees, graduate work is often a necessity in order to work as a specialist in your field. Taking a part time or lesser course load is also not an option, because it is not looked upon preferably on an application for graduate school. I'm NOT saying this is an excuse for debt, but it could be nice to hear what some of these students do!

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  17. Amen to all these stories!  I wish I worked during college, it would have taught me street smarts in addition to book smarts…. great job to all the callers

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  18. WOW! HER PLAN-AHEAD DAD IS SMART! HE MADE HER FUTURE!

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  19. The fact that one of the biggest "problems" we talk about is student loan debt. To try to say we need loans to go to school is a oxymoron. Doing something that leads to a problem in the future. There's always a way to go to school and get out debt free or at least close to minimal debt. But hey keep getting student loans and being the callers who have 50k+ in loan debt making $15 an hour. There's millions of examples where people get out debt free relate to the ones who "need" loans and you'll be right there

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  20. Dave gives fundamentally flawed advice for any intelligent person who can manage their money and "good debt" (yes I said good debt)

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  21. I have a question–hopefully some people reading the comments can stop to help out. 

    How would you suggest going through medical school debt-free? To clarify, it is not entirely feasible to work full time while studying for such a strenuous degree. I do not intend on changing my goals or future job title in order to pursue a menial job, yet remain debt-free. I have worked towards this goal, having already completed my undergraduate degree in Neuroscience at Hopkins (debt-free).

    I will be applying to the Public Health Corps and other uniformed service programs (ie. Navy, Air Force, Army)–if accepted, I will go throughout medical school, then attend one of the uniformed service residency programs, then be placed in a high-need location (as determined by the branch) for 4 years. This would be ideal–debt-free. Now, I understand that Dave Ramsey sees debt-free as the only option, and I would love to see that as well. However, if I am not accepted to one of these programs (I have a physical disability)…what next? How can I get throughout medical school debt-free?

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  22. This video title is misleading. I believe I can speak for +90% of all college grads when I say that this video won't connect to the vast majority of people. The biggest problem that leads to student loans is the strong emotional connection that high school and college students have to college. High school students graduate with a strong "reality" that college = success and not going to college = shame and failure. Whether or not that "reality" is true, it exists for them. Again, for the vast majority, how to pay for college is ONLY payable with magic money from the the government. Is needing a loan for college a myth? Yes. Will the vast majority of students relate to this video? No.

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  23. I work part time and get paid 9.00$ an hour, student loans are the only options for me.

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  24. Another myth is you don't even need a college degree. Most college degrees are worthless because everyone has one.

    Reply

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