Student loans were constantly on my mind during this time. I definitely took advantage of the pause and tried to encourage others to. If I didn’t, today my payments would’ve been $752, but instead it’s $68.82/month. I’ve got than $10k to go! 🙏🏾
I had my $137,681 forgiven through borrower defense to repayment program, my only issue is that I’m not getting the same credit as someone that paid it off by paying it.
Agreed! I didnt have to take out a whole lot for school, but I was fortunate and blessed to be able to pay down three of my four loans during the pause. Now I have a 5k balance and a $60 monthly payment which I dont have to pay now till April since I try to keep on top of interest. Haha 😁
You are one of the rare ones. I had a coworker that thought the loan amount would be forgiven and I tried to convince them that the best thing they could do is keep making the payment during the period where the interest was frozen. This was back at the very beginning where we thought there would be only about 1 year where the interest was frozen. They didn't listen to me. I have zero sympathy.
@@KayKay0314 my husband felt the same way! He kept saying to wait and I was on the fence. I listed to him hence why I still have the 5k. I probably could have paid the full amount off before the interest rates started back up but oh well.
Everyone thought I was crazy for paying mine off during the pause. It was such a weight off my shoulders. Now all the people that thought I was crazy are stressing and having to make major lifestyle changes now that their payments are starting up again.
I paid off my student loans in January of 2020, before the pandemic. Then, i attacked my mortgage for tye next 12 months and paid it off. Nothing feels as good as being debt free.
@donaldlyons17 beans 🫘 and rice 🍚 . My mortgage was already 17 years old when I began attacking the student loans. Took 2 years and I did take on more side work as I heavily paid down my debt. Once I saw how much debt I was able to pay off, I got even more motivated and pushed hard to do even better. That's why I was able to pay off the house early. I had been overpaying my mortgage since 2004 with an extra yearly payment as it was. Effectively I had another 3 years to go, so I buckled down. So yes I did pickup more work, but I cut expenses. I don't know what you're taking about? Bad Habits got me into debt. And good habits got me out of debt.
George doesn't really look too small on the show. Do they keep him on an elevated seat, like those things restaurants used to have for small children?? Crazy.
I paid off my student loans a decade ago, but there are some timely pieces of advice for anyone who is paying them off still. Any raise you get from end of year reviews should go 100% towards paying off your debts, and any tax refund you get should go 100% towards paying off your debts. I never was gazelle intense on my payoff, but by taking those simple steps along with committing to paying 2x the minimum from the moment I got my first job out of college, I was debt free in 2-3 years.
Same, except with a now late wife who was on board with making payments, but not on board with hard sacrifices - question; is that redundant? - it took us 12 years to finally pay off the loans. I did do a consolidation early on, and that helped a great deal. The interest rates were already low, compared to now, but I went through a long-ish period of unemployment after I graduated. I had worked in the automotive industry before I went to college full time for the last year and a half. That's how I got through the 5-year community college plan, in fact. After my 4-year, I went back to the automotive world, because it was California, and you have to feed your family. I even went back to school for post graduate work, and even though I was in the white collar world at the time (finally), I still made payments on the 4-year student loan, since my employer funded my MBA. It was a great feeling when we got that final notice in the mail that we were debt-free - from the student loans. Other debt, however, was another story for another time.
Had 27k remaining at the start of the Pandemic. Kept working the whole time, kept making payments and saving for over 3 years. Paid the entire thing off right before interest hit and even had enough left over to pay off my car. Saves me $400 ($620 if you count the car payment) a month and completely paid off by age 30. If I had paid nothing I wouldn't have it paid off until I was 37 years old! This will save me over 33k over the next 7 years. A dollar saved is better than a dollar earned because the dollar earned gets taxed by Uncle Sam while dollar saved is always your dollar.
Mine is 0. Never took one. Thankfully my college was paid via all scholarships. I didn't stop applying until I mostly had it all covered. Paid a little cash for a few things. Went to a cheaper state school and thankfully was able to live at home. Worked part time at a bank and could study while at work.
@NWI_Steel clearly you do since you commented. My point (which you completely missed by the way) is you CAN go to college debt free but most don't want to do the WORK!
I paid mine off (nearly 50k) during the interest pause and became debt free. More than people congratulating me, I had so many people ask me if I regretted it because of Biden. Absolutely not. Doesn’t seem to be going well for those folks that put all their eggs in that basket 😅
@@chaselesser3191 He might not have said it correctly but some people don't realize how lucky they are to have had the right conditions for stuff to work out!!! WTF.
@@handleyobusiness deuteronomy 22:28-29. If a man meets a virgin who is not betrothed, and seizes her and lies with her, and they are found, 29 then the man who lay with her shall give to the father of the young woman fifty shekels of silver, and she shall be his wife, because he has violated her. He may not divorce her all his days. Please tell me where this is a law???
I came from a low income household and was able to get a full ride worth around 120k for all four years. Most of my student loans were from room and board, textbooks and meal plans. I only have about 5 grand left, so once I pay off some credit cards I can easily pay off that last loan in a few months.
I completed my Masters in 2014 and it cost me about $31k. My minimum monthly payment was something like $355. Took me probably 5 years and two jobs to pay it off, but it was an interesting ride.
I graduated in 2016 with about 25K in student loans, I started making payments after my grace period ended in January 2017. I always paid more than the minimum. I made a detailed plan to pay off all my debts in 2020 (car and some 0% financed household items) and have been debt free since January 2021. It feels amazing ❤
Payments have always been income based so there’s no difference in my monthly payment but since the interest freeze I kept throwing everything I could at it and with payments coming back I only owe 140k vs 425k when the freeze began
My undergrad is paid off (had about $40,000), now working on about $200,000 in grad school debt at $2k/month. Thankfully the ROI for my degrees was worth it.
@@EtherBunny-z7k may I ask what your income is? Just curious to compare. Wife and I make 150k combined and have about 160k in total debt. Not counting the mortgage.
Sounds like we’re in fairly similar boats. My base salary is about $245k. Student loans are currently my only debt -they’re low interest so I’m chipping away at them little by little. I’m saving up a down payment to build a house, so will have a mortgage eventually too. You’ve got this!
I took advantage of the 0% interest/ differed payments during the pandemic and managed to get mine paid off. Now I have money I can reallocate to another line item in my budget.
husband and I had a combined 33k when payments restarted, but we had paid down over 30k during the covid years while dealing with grad school stipend + 1 year after my graduation. Since then we've now got 24k left and are paying the rest off in less than a year.
Doubtful, more like someone who wasn't handed everything she wanted growing up, thus she doesn't have entitlement syndrome like people who think the tax payers should pay for their loans, THE LOANS THEY CHOSE TO GET!! @@guccithunder6136
I came out of school with about 8K in student debt (didn't use a penny for actual schooling). Paid it off in about 6 months and consider it stupid tax. I hate debt, mortgage only and paying that down at 2x payments.
Yes that is correct In terms of the bill owed by the loan customer, not the value of the loan that the customer may take advantage of period that requires applying for another loan.
Even though I make more money now I honestly still can’t afford to repay. I live in FL and property taxes and home owners insurance have sky rocketed after the last 2 hurricanes. The loans truly are predatory. I have been paying them back since 2011 and it has increased by 7k since then. I don’t think the government should forgive all the loans but since it is a government loan the interest rates should be much lower than what they currently offer. Or at least for new graduates give them 3 years interest free and then minimal interest w/ pay back.
Mine were forgiven this year. I never graduated so now returning to school to finally complete my degree, but no loans this time. My employer is paying for it.
Great thoughts! The year is almost over and very glad about the decisions I have made so far. Investing in the market earlier this year regardless of the market conditions has saved my life. I made over 70k USD with a start of 25k in the last 7 months. I know it's nothing compared to what others make but I'm glad I'm changing my finances. If things keep going well I might retire soon>.
You're right, the best time to buy in the market is when there's fear. A huge part of my growth has also come during this bear market. This year alone, I have scaled from 180k to over 354k.
I diversify my portfolio into real estate crowdfunding, stocks, and cryptomarket. Although I'm able to achieve this with the guidance of *Tracy Britt Cool*
0, was always 0. Saved over 5k before i got out of highschool. Earned an academic scholarship and worked throughout college. Had a kid my sophomore year and still graduated, with an engineering degree, debt free.
Paid off 65k (undergrad and graduate) a month before payments started again. I've had people tell me to hold on and see what Biden was gonna do, but when that turned out to be nothing, I just decided to be done with them.
3:41 Finally! Someone with a sense of responsibility and understands how the real world post college works. The next guy: okay, two sides to that. How would you feel if your salary for your whole career was capped at the national average?
My current minimum is about $1400, but my federal loans are deferred. Once they go into repayment, if i don't pay them off all at once, which is my goal, i think it'll be more like $1700. Hence my inability to afford rent and stuckness in the house of my parents unless I get done windfall. Kinda my own fault.
@@gallopinggoose7997 I was a grad student for a long time. My field is ancient Near Eastern religion. Now teaching at a Prep school for 72k/year. I was ineligible for any kind of loan forgiveness cuz of some stuff getting seriously screwed up a few years ago. I think Biden policy would have changed that recently but I already refied to a repayment term of 10 years for the lowest interest rate (2.6% from 6.8) but at almost 200k debt that meant $1400/ month. I'll be out of debt before 2030 though so that's something.
I’m coming up on year seven of PSLF and look forward to the last three years of making minimum payments and having $112k forgiven. If anyone else is on PSLF, definitely keep it going because you’re earning your forgiveness!
I got mine forgiven during the payment pause. My coworker, too. 🎉 After having worked over 10 years in public service, it sure felt nice... And unreal.
The apron guy has a good perspective. The only forgiveness that should be given is by the universities directly. If we have been extorted, the justification of paying them off, then the one doing the extorted should pay. Universities have more than enough to pay.
My employer helps pay my student loans. I basically am getting double payments applied each month, I’m wondering if I should dial that back to put my payment towards maxing my Roth. I have no other debt and don’t plan on leaving my sr position.
With the double payments how long will it take to pay it off? The faster it is done the faster you can get your emergency fund and then if you want to do more than 15% to retirement after that you would have the margin to do that.
I had nearly $20K in student loans when I graduated in 1999 and paid them off in eight years. My debt would have been higher if I didn't take that year off after HS graduation to work and build funds to give myself a head start on paying for my education.
I cash flowed a lot of things (a wedding) during the pause and didn’t increase my debt balance. Didn’t really decrease it either lololol. Is it’s crunch time
What people should have done is snowballed them during the pause instead of buying new SUVs. Just imagine eliminating the smaller ones so when they did kick back in instead of paying $500 per month you only had to pay $250. I paid mine off with the COVID checks so that way when the student loans came due and you couldn't afford your new truck, I could buy it used for a good price from the dealership you sold it to.
Paid them off thankfully about 7 years ago!! Just work hard and get them paid off, don't expect tax payers to pay them for you, unless you all want to pay my mortgage for me!
Could anyone even imagine the amount of money lenders could make if the "Rule of 78s" was applied to student loans? Yes, too bad it is illegal on anything over 5 years or even outright. With a substantial interest rate and repayment term, all of that interest charge would be protected against early repayment with that and general stupidity i.e. most people would think that they can only make the actual minimum monthly payment or pay off the entire balance in one payment or be bounced back. Of course the interest does stop when you pay off the entire debt in full no matter what way that's what those contracts have to say but the interest keeps racking up until then instead of coming off the principal with extra or early payments. This all spoken by someone with no loans of any kind whatsoever. As it is easy to find someone who hates telemarketers, it is truly an easy task to find someone who really hates (and doesn't have) LOANS . . . .
@@LittleMopeHead i was able to pay my student loans off extremely quick since i didn't owe them anything. I didn't feel like i was drowning in debt and i didn't feel like my life was over immediately after not graduating. I didn't have to read the fine print of scummy loan sharks. Now i have the rest of my life to look foward to since im now debt free!
@@Bleu_Sky Ah gotcha. I thought you played video games for a living and paid student loans off. That's right, college is not for everyone. As long as you are not in debt, you are probably ahead of most people already. :D
4:00 what a clown bro. Nobody goes to school to “help the public” otherwise they wouldn’t expect to be paid lol. Everyone goes to college to increase their earning potential.
I want to go on a date with who was talking about people actually paying back their loans. She is cute. I live in Nashville. You out there lol, jk, but not really.
Cool to see George hanging out in San Francisco, bum capital of CA. I'd like to see Vanderbilt or some of the southern Ivy Leagues around the Tennessee area, which are about as expensive as CA unis, with supposedly smarter people I do think the Supreme Court did a good job rescinding that Biden-Harris loan forgiveness program. If people are this clueless, maybe stop handing out loans. Or better yet, make it so that they're required to make a written business plan, like when an entrepreneur applies for a business loan at the bank.
If the federal government really wanted to help the situation, they would do two things, one: Stop backing student loans with federal tax dollars. Sure this sounds like a bad idea because it means most kids wont be able to afford school, but given enough time it will force the schools charging so much to lower their costs to keep up attendance or risk losing a significant amount of attendance. It would also force banks to assess the students based on their actual ability to pay off the loans they're asking for by asking about their academic plan to see if its a worthy investment or not. two: Suspend all interest accrual on federally held student loans but continue to require students make payments. This step alone will ensure the students paying off debts won't be drowning in debt anymore as their balances will stop increasing allowing them a chance to actually pay it down. This might incur a loss financially on the federal government but I think its a small price to pay to benefit the millions of Americans in debt. Doing just these two things won't fix the problem overnight but over the next 10 years will completely turn around the problems we have now. It would force students to really look at their academic plans and see if the return on investment is worth taking the loans and for those students that don't care about that, the banks will do it for them by refusing to give them loans they won't be able to pay back. Sure the opposition is going to lie about this plan and say that's its "gatekeeping" poor kids from getting into school when the reality is, school is only as expensive because of the handout culture that has gone completely out of control.
Few places offer access to money without an interest rate..... Below the money printers where is the money over time supposed to come from? That is like saying landlords should allow people to pay in other ways besides money. Well go to any apartment complex and suggest that and see how well that goes over!!!
100k paid off in 2.5 yrs, (2019 - 2022ish). All thanks to George/Dave and his team.
Tutorial please
Great job - thankfully no "Rule of 78s" or other precomputed loan there . . .
Student loans were constantly on my mind during this time. I definitely took advantage of the pause and tried to encourage others to. If I didn’t, today my payments would’ve been $752, but instead it’s $68.82/month. I’ve got than $10k to go! 🙏🏾
I had my $137,681 forgiven through borrower defense to repayment program, my only issue is that I’m not getting the same credit as someone that paid it off by paying it.
@@jragon9215 I'm not sure i understand, can you please explain that more clearly, I am interested to know what you are talking about. Thanks
I was one that took advantage since I was fortunate enough to keep working. 9K balance gone in probably 10 months. The zero interest helped a ton.
Agreed! I didnt have to take out a whole lot for school, but I was fortunate and blessed to be able to pay down three of my four loans during the pause. Now I have a 5k balance and a $60 monthly payment which I dont have to pay now till April since I try to keep on top of interest. Haha 😁
You are one of the rare ones. I had a coworker that thought the loan amount would be forgiven and I tried to convince them that the best thing they could do is keep making the payment during the period where the interest was frozen. This was back at the very beginning where we thought there would be only about 1 year where the interest was frozen. They didn't listen to me. I have zero sympathy.
@@KayKay0314 my husband felt the same way! He kept saying to wait and I was on the fence. I listed to him hence why I still have the 5k. I probably could have paid the full amount off before the interest rates started back up but oh well.
Good job I did the same
Everyone thought I was crazy for paying mine off during the pause. It was such a weight off my shoulders. Now all the people that thought I was crazy are stressing and having to make major lifestyle changes now that their payments are starting up again.
I paid off my student loans in January of 2020, before the pandemic. Then, i attacked my mortgage for tye next 12 months and paid it off. Nothing feels as good as being debt free.
Either you made a ton of money or you lived super cheap either way it was possible because of math and conditions not behavior.
@donaldlyons17 beans 🫘 and rice 🍚 . My mortgage was already 17 years old when I began attacking the student loans. Took 2 years and I did take on more side work as I heavily paid down my debt. Once I saw how much debt I was able to pay off, I got even more motivated and pushed hard to do even better. That's why I was able to pay off the house early. I had been overpaying my mortgage since 2004 with an extra yearly payment as it was. Effectively I had another 3 years to go, so I buckled down. So yes I did pickup more work, but I cut expenses. I don't know what you're taking about? Bad Habits got me into debt. And good habits got me out of debt.
@@leechburglights well.... you might be an exception but somehow your where you are
Either how tall is that guy, or how short is George. That is insane.
George is maybe 5 6 or 5 7 i think
😂
That guy doesn't look too big, I'm estimating George is 4'11, 92 lbs. Either that or there is some Lord of the Rings camera trickery going on. ( o.o)
It’s not the men who make him look short… it’s the women!
George doesn't really look too small on the show. Do they keep him on an elevated seat, like those things restaurants used to have for small children?? Crazy.
I paid off my student loans a decade ago, but there are some timely pieces of advice for anyone who is paying them off still. Any raise you get from end of year reviews should go 100% towards paying off your debts, and any tax refund you get should go 100% towards paying off your debts. I never was gazelle intense on my payoff, but by taking those simple steps along with committing to paying 2x the minimum from the moment I got my first job out of college, I was debt free in 2-3 years.
Yep, or even adding a couple hundred to help cover the interest can help cut the time in almost half.
That's the way to do it.
Same, except with a now late wife who was on board with making payments, but not on board with hard sacrifices - question; is that redundant? - it took us 12 years to finally pay off the loans.
I did do a consolidation early on, and that helped a great deal. The interest rates were already low, compared to now, but I went through a long-ish period of unemployment after I graduated. I had worked in the automotive industry before I went to college full time for the last year and a half. That's how I got through the 5-year community college plan, in fact. After my 4-year, I went back to the automotive world, because it was California, and you have to feed your family.
I even went back to school for post graduate work, and even though I was in the white collar world at the time (finally), I still made payments on the 4-year student loan, since my employer funded my MBA.
It was a great feeling when we got that final notice in the mail that we were debt-free - from the student loans. Other debt, however, was another story for another time.
Had 27k remaining at the start of the Pandemic. Kept working the whole time, kept making payments and saving for over 3 years. Paid the entire thing off right before interest hit and even had enough left over to pay off my car. Saves me $400 ($620 if you count the car payment) a month and completely paid off by age 30. If I had paid nothing I wouldn't have it paid off until I was 37 years old! This will save me over 33k over the next 7 years. A dollar saved is better than a dollar earned because the dollar earned gets taxed by Uncle Sam while dollar saved is always your dollar.
Mine is 0. Never took one. Thankfully my college was paid via all scholarships. I didn't stop applying until I mostly had it all covered. Paid a little cash for a few things. Went to a cheaper state school and thankfully was able to live at home. Worked part time at a bank and could study while at work.
Nobody cares
@NWI_Steel clearly you do since you commented. My point (which you completely missed by the way) is you CAN go to college debt free but most don't want to do the WORK!
I paid mine off (nearly 50k) during the interest pause and became debt free. More than people congratulating me, I had so many people ask me if I regretted it because of Biden. Absolutely not. Doesn’t seem to be going well for those folks that put all their eggs in that basket 😅
👍🏾
Well you made enough money to pay it off.... Jobs and income and expenses don't always work out despite people's best efforts.
Some people lost their jobs, and struggled to make any sort of payments, so I don’t know why that’s funny. Lol.
@@chaselesser3191 He might not have said it correctly but some people don't realize how lucky they are to have had the right conditions for stuff to work out!!! WTF.
@@donaldlyons17 yikes! What an assumption! I probably make less than most anyone on this thread. Was a lot of hard work, discipline and side hustling.
Paid off student loans in 2016. Praise God.
Felt good. Learned a lesson. Made me more conservative!
god had nothing to do with it you did start believing in yourself.
God had nothing to do with it😂
@@NWI_Steel You’re in a country with mostly Christian laws. Get over it.
@@handleyobusiness deuteronomy 22:28-29. If a man meets a virgin who is not betrothed, and seizes her and lies with her, and they are found, 29 then the man who lay with her shall give to the father of the young woman fifty shekels of silver, and she shall be his wife, because he has violated her. He may not divorce her all his days.
Please tell me where this is a law???
@@MC-pe4cnif you actually were Christian than you would understand. Cherry picking at its finest.
I came from a low income household and was able to get a full ride worth around 120k for all four years. Most of my student loans were from room and board, textbooks and meal plans. I only have about 5 grand left, so once I pay off some credit cards I can easily pay off that last loan in a few months.
If you had a full ride why the student loans
@@blackbutterfly233ify only covered tuition and it was out of state. It didn't cover housing and books
Credit cards are the cardinal sin
“What’s the plan?”
“To pay them.” - Love that response
I completed my Masters in 2014 and it cost me about $31k. My minimum monthly payment was something like $355. Took me probably 5 years and two jobs to pay it off, but it was an interesting ride.
@2:22 Lady used the money to move to a high rent area and travel.
I graduated in 2016 with about 25K in student loans, I started making payments after my grace period ended in January 2017. I always paid more than the minimum. I made a detailed plan to pay off all my debts in 2020 (car and some 0% financed household items) and have been debt free since January 2021. It feels amazing ❤
Keep it up George, you're killing it. I don't have students loans (never have) but for some reason I watch.
I’m so happy I just applied those COVID checks to my student loans. As of last month made my last payment and officially DEBT FREE!
Payments have always been income based so there’s no difference in my monthly payment but since the interest freeze I kept throwing everything I could at it and with payments coming back I only owe 140k vs 425k when the freeze began
My undergrad is paid off (had about $40,000), now working on about $200,000 in grad school debt at $2k/month. Thankfully the ROI for my degrees was worth it.
The minimum payment is 2k? Or you’re throwing 2k a month at it?
Minimum is a little over $1800, throwing a little extra at it.
@@EtherBunny-z7k may I ask what your income is? Just curious to compare. Wife and I make 150k combined and have about 160k in total debt. Not counting the mortgage.
Sounds like we’re in fairly similar boats.
My base salary is about $245k. Student loans are currently my only debt -they’re low interest so I’m chipping away at them little by little. I’m saving up a down payment to build a house, so will have a mortgage eventually too.
You’ve got this!
@@EtherBunny-z7k thanks for responding. Best of luck!
I took advantage of the 0% interest/ differed payments during the pandemic and managed to get mine paid off. Now I have money I can reallocate to another line item in my budget.
Last payment coming up in 2 paydays. Graduated 2021. Thank goodness for the interest pause.
Great job making that time work for you! Keep it up!
Paid off my student loans for my BA within 6 years. Paid for my MS out of pocket. Learned so much and became conservative.
I paid off my entire loan balance of 43K during the payment pause. Debt free feels amazing.
You were smart and took advantage
husband and I had a combined 33k when payments restarted, but we had paid down over 30k during the covid years while dealing with grad school stipend + 1 year after my graduation. Since then we've now got 24k left and are paying the rest off in less than a year.
I think I would be more worried about a potential future divorce, alimony, and child support issue.
3:41 Someone who gets it! 👏
She probably had her Mommy and Daddy Pay for her whole Tuition lol
Doubtful, more like someone who wasn't handed everything she wanted growing up, thus she doesn't have entitlement syndrome like people who think the tax payers should pay for their loans, THE LOANS THEY CHOSE TO GET!! @@guccithunder6136
I came out of school with about 8K in student debt (didn't use a penny for actual schooling). Paid it off in about 6 months and consider it stupid tax. I hate debt, mortgage only and paying that down at 2x payments.
Glad to say mines are zero. Paid off back in 2019. 30k
*mine
Many people do not know that if they do not pay their loans the loan value increases.
Yes that is correct In terms of the bill owed by the loan customer, not the value of the loan that the customer may take advantage of period that requires applying for another loan.
Paid off roughly 100k of student loans since May when me and my fiancée found out we are expecting a baby
How much do you make to be able to pay down 100 grand in 6 mos???
Congratulations on your baby and paying off so much student loan debt! 🎉🥳
Even though I make more money now I honestly still can’t afford to repay. I live in FL and property taxes and home owners insurance have sky rocketed after the last 2 hurricanes. The loans truly are predatory. I have been paying them back since 2011 and it has increased by 7k since then. I don’t think the government should forgive all the loans but since it is a government loan the interest rates should be much lower than what they currently offer. Or at least for new graduates give them 3 years interest free and then minimal interest w/ pay back.
Being debt free feels so good I paid mines off during the interest pause I started with 15k my last payment was this past august
Mine were forgiven this year. I never graduated so now returning to school to finally complete my degree, but no loans this time. My employer is paying for it.
You are very lucky to be part of the 1%! Congratulations 🎊 on your fortune, and keep out if the debt! Cheers 🍻
Love your videos, George. Puts a smile on my face every time I watch.
Great thoughts! The year is almost over and very glad about the decisions I have made so far. Investing in the market earlier this year regardless of the market conditions has saved my life. I made over 70k USD with a start of 25k in the last 7 months. I know it's nothing compared to what others make but I'm glad I'm changing my finances. If things keep going well I might retire soon>.
Spot on. The market presents different. opportunities to create passive Income, with the right skill and proper understanding you're good to go.
You're right, the best time to buy in the market is when there's fear. A huge part of my growth has also come during this bear market. This year alone, I have scaled from 180k to over 354k.
How were you able to make that much?
Seems like I'm not lucky enough.
I diversify my portfolio into real estate crowdfunding, stocks, and cryptomarket. Although I'm able to achieve this with the guidance of *Tracy Britt Cool*
I'm very much aware of the great benefits of working with a pro but I haven't found one for myself.
I paid off my student loans recently and it's awesome to be debt free!
There's a lot of folks I recognized from the last on the street video you did, haha.
Joined the Air Force. I owe $0. You’re welcome x2.
0, was always 0. Saved over 5k before i got out of highschool. Earned an academic scholarship and worked throughout college. Had a kid my sophomore year and still graduated, with an engineering degree, debt free.
We need like reaction videos or something from George.. even if it’s not money related.. idk but he’s so funny
I used that "extra" money to pay off my car and other debt.
Paid off 65k (undergrad and graduate) a month before payments started again. I've had people tell me to hold on and see what Biden was gonna do, but when that turned out to be nothing, I just decided to be done with them.
Best news ever!!!
3:41
Finally! Someone with a sense of responsibility and understands how the real world post college works.
The next guy: okay, two sides to that. How would you feel if your salary for your whole career was capped at the national average?
the average student debt is around 40k if it takes you more than 4 or 5 years to pay that back you need a refund not loan forgiveness.
My current minimum is about $1400, but my federal loans are deferred. Once they go into repayment, if i don't pay them off all at once, which is my goal, i think it'll be more like $1700. Hence my inability to afford rent and stuckness in the house of my parents unless I get done windfall. Kinda my own fault.
@@gallopinggoose7997 I was a grad student for a long time. My field is ancient Near Eastern religion. Now teaching at a Prep school for 72k/year. I was ineligible for any kind of loan forgiveness cuz of some stuff getting seriously screwed up a few years ago. I think Biden policy would have changed that recently but I already refied to a repayment term of 10 years for the lowest interest rate (2.6% from 6.8) but at almost 200k debt that meant $1400/ month. I'll be out of debt before 2030 though so that's something.
I’m coming up on year seven of PSLF and look forward to the last three years of making minimum payments and having $112k forgiven. If anyone else is on PSLF, definitely keep it going because you’re earning your forgiveness!
I got mine forgiven during the payment pause. My coworker, too. 🎉 After having worked over 10 years in public service, it sure felt nice... And unreal.
@@Sarah_Eva congratulations! I hope to know that feeling in a few short years!
@@markdohrmann5983 I hope you get there, too! I was in total disbelief, but so happy.
Haven’t had student loans for awhile. Thankful I don’t have them
The apron guy has a good perspective. The only forgiveness that should be given is by the universities directly. If we have been extorted, the justification of paying them off, then the one doing the extorted should pay. Universities have more than enough to pay.
My employer helps pay my student loans. I basically am getting double payments applied each month, I’m wondering if I should dial that back to put my payment towards maxing my Roth. I have no other debt and don’t plan on leaving my sr position.
With the double payments how long will it take to pay it off? The faster it is done the faster you can get your emergency fund and then if you want to do more than 15% to retirement after that you would have the margin to do that.
I knocked out almost 40k on my student loans during the freeze. I don't know people expected the student loan forgiveness to go thru.
4:05 Oh, come on! Now you're just kneeling off-frame to f- with us!!
Did anyone say how much their student loan payment is?
I had nearly $20K in student loans when I graduated in 1999 and paid them off in eight years. My debt would have been higher if I didn't take that year off after HS graduation to work and build funds to give myself a head start on paying for my education.
I cash flowed a lot of things (a wedding) during the pause and didn’t increase my debt balance. Didn’t really decrease it either lololol. Is it’s crunch time
What people should have done is snowballed them during the pause instead of buying new SUVs. Just imagine eliminating the smaller ones so when they did kick back in instead of paying $500 per month you only had to pay $250. I paid mine off with the COVID checks so that way when the student loans came due and you couldn't afford your new truck, I could buy it used for a good price from the dealership you sold it to.
Paid them off thankfully about 7 years ago!! Just work hard and get them paid off, don't expect tax payers to pay them for you, unless you all want to pay my mortgage for me!
not sure if having bought stocks and doubling my money was guaranteed but wow now time to pay off my loans .
Therapy? The only thing that will help me is to drive straight south from North Dakota lol
Paid mine off in 2020, so payment of $0/month now!
Not to be rude but no one is a "public servant " unless they don't get paid. Otherwise it's just a job like anything else.
Our student loans are our last debts, but they add up to almost 100k between me and my husband. We're trying to be free of it all in 3 years!
$818 per month but hopefully I’ll have them paid off by 2026-2027.
How tall are you?
Could anyone even imagine the amount of money lenders could make if the "Rule of 78s" was applied to student loans? Yes, too bad it is illegal on anything over 5 years or even outright. With a substantial interest rate and repayment term, all of that interest charge would be protected against early repayment with that and general stupidity i.e. most people would think that they can only make the actual minimum monthly payment or pay off the entire balance in one payment or be bounced back. Of course the interest does stop when you pay off the entire debt in full no matter what way that's what those contracts have to say but the interest keeps racking up until then instead of coming off the principal with extra or early payments. This all spoken by someone with no loans of any kind whatsoever. As it is easy to find someone who hates telemarketers, it is truly an easy task to find someone who really hates (and doesn't have) LOANS . . . .
The one that concerns me is the girl who is only concerned with how this will impact her current lifestyle
Mine is $263
I wish I could have someone pay my bills. LOL time to grow up kids.
Took me zero years and a whole lot of video gaming to pay off my student loans. It was a fun journey and would do it again!
How much was your student loans? Did you pay with cash?
@@LittleMopeHead i was able to pay my student loans off extremely quick since i didn't owe them anything. I didn't feel like i was drowning in debt and i didn't feel like my life was over immediately after not graduating. I didn't have to read the fine print of scummy loan sharks. Now i have the rest of my life to look foward to since im now debt free!
@@Bleu_Sky Ah gotcha. I thought you played video games for a living and paid student loans off. That's right, college is not for everyone. As long as you are not in debt, you are probably ahead of most people already. :D
the Government is going to pass the higher education vid to forgive the loans, we're all good 😎
They got the education and now haven’t been saving all these years?
Never went to school. I make 120k+. Oil field baby
My husband’s student loans got forgiven and mines will be in 2027. 🎉
Would you take some of the money they took out of my check to pay for your loans and donate it to St. Judes childrens hospital. Tia
@@vlharmon Go ask if they can take some money from these wars they are funding and allocate it St. Judes.
@@vlharmonHer and her husband will be taxpayers too. This isn't the 'gotcha' you think it is
She traveled more..lol, great financial decision
4:00 what a clown bro. Nobody goes to school to “help the public” otherwise they wouldn’t expect to be paid lol. Everyone goes to college to increase their earning potential.
3 years to lower the balance. No sympathy.
This man George is 5, 5" at max. His money long though so...
Could you get a bigger microphone? LOL
I want to go on a date with who was talking about people actually paying back their loans. She is cute. I live in Nashville. You out there lol, jk, but not really.
Cool to see George hanging out in San Francisco, bum capital of CA. I'd like to see Vanderbilt or some of the southern Ivy Leagues around the Tennessee area, which are about as expensive as CA unis, with supposedly smarter people
I do think the Supreme Court did a good job rescinding that Biden-Harris loan forgiveness program.
If people are this clueless, maybe stop handing out loans. Or better yet, make it so that they're required to make a written business plan, like when an entrepreneur applies for a business loan at the bank.
My loans were forgiven due to PSLF. I made payments because I didn’t think forgiveness was a real option.
Festival of YOLO
If the federal government really wanted to help the situation, they would do two things,
one: Stop backing student loans with federal tax dollars. Sure this sounds like a bad idea because it means most kids wont be able to afford school, but given enough time it will force the schools charging so much to lower their costs to keep up attendance or risk losing a significant amount of attendance. It would also force banks to assess the students based on their actual ability to pay off the loans they're asking for by asking about their academic plan to see if its a worthy investment or not.
two: Suspend all interest accrual on federally held student loans but continue to require students make payments. This step alone will ensure the students paying off debts won't be drowning in debt anymore as their balances will stop increasing allowing them a chance to actually pay it down. This might incur a loss financially on the federal government but I think its a small price to pay to benefit the millions of Americans in debt.
Doing just these two things won't fix the problem overnight but over the next 10 years will completely turn around the problems we have now. It would force students to really look at their academic plans and see if the return on investment is worth taking the loans and for those students that don't care about that, the banks will do it for them by refusing to give them loans they won't be able to pay back. Sure the opposition is going to lie about this plan and say that's its "gatekeeping" poor kids from getting into school when the reality is, school is only as expensive because of the handout culture that has gone completely out of control.
Few places offer access to money without an interest rate..... Below the money printers where is the money over time supposed to come from? That is like saying landlords should allow people to pay in other ways besides money. Well go to any apartment complex and suggest that and see how well that goes over!!!
Who really cares how tall he that's all my gosh? Michael J Fox is only 5 foot 4...and then there is Danny Devito...the lust goes on...
List
I'm still waiting for the U.S economy to crash because they have to pay back their student loans {sarcasm} 🤣🤣🤣
"professional dork explains student loan payments"
70z5 student loan debt belong to women, choose your women wisely
why do they get a sponsorship from BetterHelp? Ramsey is a christian company and BetterHelp completely promotes LGBT sin
Public servants shouldn't pay students loans?! Dont they hold most of the student loan debt??? He's gunna be wearing the apron for a very long time.