225k Student Loans, What should I do?

Check out The Rachel Cruze YouTube Channel for life and money tips! http://www.youtube.com/user/RachelCruze?sub_confirmation=1 ________________________________________________________________ Sid has 225k in student loans and calls Dave for advice on how to approach the debt. Find A Financial Peace class near you! http://www.daveramsey.com/fpu/classfinder?ectid=70.11.1209 Check out Chris Hogan’s book “Retire Inspired” http://www.daveramsey.com/store/books/retire-inspired-by-chris-hogan/prodD078.html?ectid=70.11.1208 Do you want to take control of your money? Get “The Total Money Makeover” book here. http://www.daveramsey.com/store/books/dave-s-bestsellers/the-total-money-makeover/prodtmmoclassic.html?ectid=70.11.1207 Download the FREE EveryDollar App and start telling your money where to go. http://www.daveramsey.com/everydollar?ectid=70.11.1206 Do you need help with your taxes? Find an Endorsed Local Provider near you! https://www.daveramsey.com/elp/tax-services?ectid=70.11.1205 Need help selling or buying a home? Click the link to find an Endorsed Local Provider in your area. https://www.daveramsey.com/elp/residential-real-estate?ectid=70.11.1204 Do you have questions about investing? Let one of our Endorsed Local Providers help. https://www.daveramsey.com/elp/investing?ectid=70.11.1203 IN THIS VIDEO: Dave Ramsey, The Dave Ramsey Show, Financial Peace University, FPU, The Total Money Makeover, budget, envelope system, emergency fund, baby steps, radio show, debt freedom, EntreLeadership, mortgage, ELP, daveramsey.com, money, finance, economy, investing, saving, retirement, cash, mutual fund, stock market, business, leadership, credit, drtlgi

Comments

1. https://www.teacherspayteachers.com/Product/Poster-5-Reasons-Why-You-Should-Not-Take-Out-Student-Loans-3113228
2. What's the big deal if it's income based repayment?
3. Marrying a woman who has 220K in loans it is not a smart move
4. Remember you "BUY" money like you buy anything else and you must have the money to do that.
5. They didn't go into that almost all the debt is from the wife and they're not even married yet... I wouldn't get married.
6. $225k DEBT!!!!!!! Do the math. A minimum wage McDonald employee will take home or save more than these fools with a college degree.
7. the soon to be wife found a sucker
8. pay your loan, and have her pay her own, till it a lot closer to being paid off,
9. so sad . . .
10. owww I feel good
11. Why does Dave continuously interrupt the person who is trying to talk? That is so rude.
12. Sometimes I have to get in debt to get where you want to be in the future it's called sacrifice
13. As a resident by the end I will have close to 300k in medical loans but if I keep living like a resident after becoming an attending I will pay off the loan in 3 years
14. He is still laughing lol!!!!!
15. Ha ha I'm done. We have 195,000k in student loans and a masters in teaching with a family size of 6. I'll make $40k a year and the wife cannot even use her masters in teaching because watching the four kids in a daycare isn't cheap $$$$. I'm done yes?
16. Don't marry her!!!! Ruuuuuuun
17. What should you do with $226,000 in debt? At this point self discipline can only get you so far. Play the lottery! At this point you just dug yourself in a huge hole and your only way out is by death or digging a bigger hole in the hopes that you'll find oil (win $1 million or the jackpot at Mega Millions/Powerball). I don't care how crazy it sounds to Ramsey or his followers. Paying off your debts won't change the fact you need to retire or work till you drop.
18. Dave, not sure the intent of grating these folks over the coals. This is the difference between a CFP and Dave Ramsey, Dave give's you a riot act and runs a talk show, a CFP actually walks through a financial plan with you and puts a strategy in place to meet your financial goals. They use time value money calculations and help adjust those figures to expected inflation. They may even go as far as helping you address career goals and identify what strategies your employer is willing to commit to in order to help you achieve your goals, not just make gross assumptions as if just because your a 2nd or 3rd or 4th year practitioner you will make 2x 3x income. Talk to a professional if you want real financial advice and short-term tangible financial goals to start eating this elephant one bite at a time.
19. Lol trust me, Once she is married, she will not go to work, leaving the 200k for him to pay, while she will pride herself of being a stay at home mom. He should honestly cut his losses now and run.