Dave Ramsey hates debt slavery, buts doesnt mind real indentured servitude. (credit, business)
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Went to a state med school. Tuition only $8k a year. Lived with family free by doing some of their property management.
Refused to consolidate after graduation unless it was higher to principle 10 year loan instead of 30 the bank tried to do.
My $32k loan was gone pretty fast after residency.
The girl asked if there were any ways to go to med school debt free, and he gave her 3 ways...what did you expect him to do, start going into the pros and cons of each one to a 12 year old girl??
Also, Dave Ramsey does not trust the general population (rightfully so) to use low interest debt as a tool.
I think Dave Ramsey is great for that reason. His advice is for the financially stupid which is the majority of Americans. Just because it does not apply to me doesn't mean I have to disagree with him.
I disagree with Ramsey's position on educational debt. If you have an opportunity to significantly improve your education and you have to borrow money, do it.
My daughter got into MIT and borrowed $70K to get both an MBA and a Masters in Chemical Engineering. I could not afford to give her that much.
As a result of that education, she doubled her salary and she paid off the loan in 1 year.
also some people listen to what he says likes it gospel...it is a live radio show...please remember that.
LOL IKR. I was wondering who this is. Ppl are such sheep. Why am I not smart enough to exploit this for personal gain?
Well like all of the other debt problems, I'm sure the government or the evil "banking industry" that has its claws in the US government will try to shift student loan debt around by getting tax payers to pay for it...thus ensuring the people of the US are enslaved to them.
Has any brought up a bailout for student loan debt yet? I'm sure they are claiming that it is some sort of looming catastrophe and too big to fail. God forbid these people can't qualify for home loans and get into even more debt...housing prices might go down.
From what I've observed, working for someone in exchange for them paying your loans off
just means they pay you less.
The same can be said about employer based health care plans.
And is just as true.
The issue is the level of self direction (or lack of it) each individual has...
and the eagerness or encouragement to embrace paternalism in these things.
And you could slip and fall in the shower and die too. Going in the military is a option. You don't have to do it
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