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Speaker 1: My next guest, it's one of those people in the

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Speaker 1: entrepreneurship lane, but she's tied to education. So you get

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Speaker 1: two things out of her. You can get your life

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Speaker 1: right from a from a business standpoint, and get your

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Speaker 1: life right from an educational standpoint, because she's trying to

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Speaker 1: make your life right after you got your degree, because

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Speaker 1: a lot of times if you go to school, you

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Speaker 1: can walk away with the debt. My next guest is

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Speaker 1: the CEO of an award winning business called the Student

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Speaker 1: Loan Doctor. The Student Loan Doctor is a student debt

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Speaker 1: repayment company. She's considered the people's expert for all matters

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Speaker 1: related to student loan debt repayment. She has over seven

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Speaker 1: years of practical higher education and financial aid experience. Please

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Speaker 1: welcome to money making conversation. Son your Lewis, Thank you

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Speaker 1: so much for having me. I'll tell you what that was.

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Speaker 1: A That was an applause driven. You gotta get some applause, Sam,

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Speaker 1: you know, because I'm doing these applause Nowaday. You know,

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Speaker 1: it's like, you know, like I'm a I'm a performer,

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Speaker 1: so you when people introduced me on the stage, it's

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Speaker 1: applause that carries me on the stage. So now I'm

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Speaker 1: setting up to all these great introduces, introductions and individuals.

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Speaker 1: I need a little Paul, I'm not you know, it's

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Speaker 1: something that I don't have to pay for. Make sure

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Speaker 1: he is a copy free, okay, trademark free. You know

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Speaker 1: how you doing? Ms Lewis, I'm how are you today?

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Speaker 1: I'm doing fine? And where are you based that right now?

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Speaker 1: Calling from? Yeah, okay, I've just talked to another good

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Speaker 1: friend up there in the Philadelphy a area. I've been

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Speaker 1: spent a lot of time up there in New York.

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Speaker 1: I take to exhale the sale down from New York

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Speaker 1: to d C. That's my favorite way. I don't jump

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Speaker 1: on the plane. I just hop on that amtract train

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Speaker 1: come on down. So I'm always passing through Philly and

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Speaker 1: it's a great opportunity to get some good food. I

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Speaker 1: was a hangout and fairy a lot when I was mamagining.

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Speaker 1: Steve Harvey was there at the rich Car to right downtown,

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Speaker 1: that little area down there, right across from that bookstore

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Speaker 1: down there, That's where I would hang out. So Philly

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Speaker 1: area is good to me. Now you my friend started

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Speaker 1: the student long doctor. Yes, because I was going through

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Speaker 1: my own trials in general, that gives your inspiration. That

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Speaker 1: gives you inspiration when you're going through the problem. How

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Speaker 1: do I fix this problem? Then you're fixing, you go

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Speaker 1: you know what, maybe I can fix this for other people.

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Speaker 1: So what was your problems? Give us your story about

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Speaker 1: your dad. They really traumatized you to the point that

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Speaker 1: you you're inspired to fix other people's problems. Yeah, So

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Speaker 1: I started getting help with my dad because I really

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Speaker 1: realized that I wasn't living the life that God that

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Speaker 1: told me to live. So you can't be a good

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Speaker 1: giver broke, and you can't motivate or be encouraging to

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Speaker 1: anyone if you are down and dump yourself. And a

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Speaker 1: lot of times I felt like our problems fell from finances, right,

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Speaker 1: So I had to get me together. But if you're

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Speaker 1: a good friend and you care about the people around you,

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Speaker 1: you want to help them get themselves together. So I

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Speaker 1: started to help my friends and family because I'm like,

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Speaker 1: they don't know this information. I know they would have

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Speaker 1: told me, right, So I started helping people, and then

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Speaker 1: people at the church started to tell other people about

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Speaker 1: the work we were doing on Sundays after church, and

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Speaker 1: you know, I've said, Jesus saidn't say everybody had to

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Speaker 1: be free. Now I didn't didn't hear that. I didn't

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Speaker 1: see that in the cripture. So I started consulte when

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Speaker 1: people want about their stead the loans, because it was

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Speaker 1: this thing that everybody was coming to me for. Now,

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Speaker 1: this is my professional background. UM. For over nine years,

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Speaker 1: I've been doing this work um for other colleges and universities.

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Speaker 1: So I'm like, well, what would it look like to

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Speaker 1: do it for yourself. So for the last three years,

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Speaker 1: I've been in business, initially myself for a year and

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Speaker 1: then the last two I've hired a wonderful team to

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Speaker 1: help me take on uh this one point five trillion

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Speaker 1: dollars dat. Now I'm just gonna you know. I was

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Speaker 1: talking to my staff of Off the Camera Afradio excuse me,

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Speaker 1: and we was talking about I was watching this special

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Speaker 1: NBC and it was these students, a group of students

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Speaker 1: out there who are in debt and they're just saying,

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Speaker 1: we're not paying it back, We're just refusing to pay.

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Speaker 1: We're just gonna be it comes out if they ain'tven

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Speaker 1: got a hashtag we won't pay. And I'm going like, Okay,

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Speaker 1: how you how can you how? First of all, I

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Speaker 1: was mad at him because you know, they just they

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Speaker 1: were showing them, shredding up their invoences. They were coming

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Speaker 1: in and going like really really, so if you don't pay,

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Speaker 1: who's gonna pay? So So first of all, I'm reckoning,

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Speaker 1: I'm burning his little face, you know, because they wouldn't

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Speaker 1: reveal his name, you know, for some ready, but they

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Speaker 1: just showing his face. I don't know, I don't know how,

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Speaker 1: I don't know what what the education they got, But

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Speaker 1: if I see your face, I'm eventually gonna know your name,

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Speaker 1: especially if you're gonna want a job one day. So

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Speaker 1: you have this group of students out there who are

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Speaker 1: ignoring their responsibility. I'm gonna say, they've accepted the the

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Speaker 1: the financial aid to get a degree. Now they left

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Speaker 1: college and I'm not gonna pay. What do you say

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Speaker 1: the individuals that are doing that out there? So that's

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Speaker 1: not a good plan. Um, this is the only day

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Speaker 1: in the United States of America that you don't have

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Speaker 1: to be a part of for them to collect on.

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Speaker 1: I know that people are frustrated, I know that they

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Speaker 1: are mad, but no one's trying to gun to these

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Speaker 1: people's head in terms of borrowing. Right, so you knew

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Speaker 1: when you were borrowing elected that there's a situation here

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Speaker 1: where they may be incapable of being good borrowers and repayment.

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Speaker 1: But other than that, you knew about this that right,

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Speaker 1: So shredding up the paper, that's fine because when they

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Speaker 1: electronically go into that bank account or to that employer

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Speaker 1: that is mandated to get fIF team per cent per check,

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Speaker 1: it is not going to be a game anymore. So

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Speaker 1: we don't we don't want to institute that plan. So

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Speaker 1: uh so that was that was professionally stated, but very

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Speaker 1: funny because I thought the same thing. Okay, I got

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Speaker 1: a problem with you because guess what, nobody that nobody

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Speaker 1: just stopped you. Now you want to stop the system

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Speaker 1: from collecting. Now, let's we want to go through some

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Speaker 1: of them, some some questions that were presented to me

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Speaker 1: so I can make sure I get all the information

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Speaker 1: that and people how first of all, how can people

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Speaker 1: contact you? Let's get that out the way first, and

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Speaker 1: we're gonna do it now at the end of the ship. Yeah,

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Speaker 1: the best play is doctor, please help me, dot com doctor,

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Speaker 1: please help me dot com um where they can call us. Uh,

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Speaker 1: they can do that as well to six seven three

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Speaker 1: eight six one one one six or I always say

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Speaker 1: the fun for us is on social media Instagram, particularly

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Speaker 1: at the Student Loan Doctor. We post about all of

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Speaker 1: our events, our webinars. We do a lot of free

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Speaker 1: community education, so you don't have to ever buy anything

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Speaker 1: from us. But we're going to continue every two weeks

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Speaker 1: for the new webinar on a different area, different focus

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Speaker 1: about student loan debt. Cool. My guest is the CEO

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Speaker 1: of an award winning business. It's called the Student Loan Doctor.

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Speaker 1: Student Loan as l O A N doctor just Student

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Speaker 1: Loan Doctor is a student debt repayment company. She's considered

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Speaker 1: the people's expert for all matters related in student loan

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Speaker 1: debt repayment. She has over seven she said, says, now,

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Speaker 1: but I heard you say nine years of practical higher

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Speaker 1: education and financial aid experience. Now, ms lewis, when you

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Speaker 1: look at individuals, just if you just want to go

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Speaker 1: to school, would you recommend are there any options for

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Speaker 1: students if they didn't want to get in debt with

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Speaker 1: these student loans? What? What? What? What? What're options? Would

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Speaker 1: those be? Just getting part time jobs? Are going to

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Speaker 1: school part time. What are the options would they be? Yeah?

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Speaker 1: Absolutely well. A lot of times the people actually most

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Speaker 1: staddled by sten alone debt. I called them, or referred

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Speaker 1: to the message sticky middle So middle class. You really

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Speaker 1: don't receive any grant money right because they say you

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Speaker 1: make too much, but you're not reach enough to pay

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Speaker 1: out of pocket. So what that looks like is that's

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Speaker 1: the group I'm most interested in working with. Helping because

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Speaker 1: you have to figure out alternative sources to alan and

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Speaker 1: that could be a scholarship, that could be a grant

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Speaker 1: based or a subsidized job on camp. Use this because

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Speaker 1: at the end of the day, when you don't have

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Speaker 1: a lot of money going into the process, you may

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Speaker 1: feel like the only option is a loan. But I

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Speaker 1: tell parents, start something called scholarship Sunday, and that's holding

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Speaker 1: your ac accountable to have a seat one or two

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Speaker 1: hours and start applying for scholarships. Just apply, apply, apply.

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Speaker 1: There's so much scholarship money that it's unutilized because no

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Speaker 1: one is applying. They think that it doesn't it's not real.

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Speaker 1: No one could get these scholarships. Lewis, let's hold that thought,

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Speaker 1: or I want to bring you back on the next

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Speaker 1: break to talk about those scholarships. I know where that's

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Speaker 1: one way of a student debt repayment is not to

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Speaker 1: have that coming back with more money making conversations. Uh,

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Speaker 1: this is ra Sean McDonald. You're listening to money making conversation.

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Speaker 1: I'm the host of the show that was created for you,

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Speaker 1: by you, and it's a it's free. Um. My guest

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Speaker 1: is the CEO of an award winning business, the Student

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Speaker 1: Loan Doctor. The Student Loan Doctor is a student debt

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Speaker 1: repayment companies. She's considered a people's expert for all matters

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Speaker 1: related to student loan debt repayment. She has many years

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Speaker 1: of practical higher education and financial aid experience. Uh, this

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Speaker 1: lewis Um. When you say financial aid experience, wasn't that me?

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Speaker 1: I've been because financial aid enabled me to get through

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Speaker 1: school and that's why I didn't have any debt. When

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Speaker 1: it is financial aden. Now that's a different financial aged

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Speaker 1: student loans, right, because I'm assuming that when I when

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Speaker 1: you make that statement, my financial age that I got

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Speaker 1: through college, it wasn't tied to a loan. And so

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Speaker 1: because I was under that middle class that you was

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Speaker 1: talking about now, when you say a financial aid and

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Speaker 1: financial aid experience, what are you referencing? So financial way

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Speaker 1: consists of student loans as well, you may have not

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Speaker 1: had to use one isn't consist of that term? So

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Speaker 1: financially can be a scholarship, a grant, or a loan

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Speaker 1: or a fellowship. So that's a broad term. Um, but

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Speaker 1: it can mean different things to different people, and so UM.

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Speaker 1: In my past experience with working in the higher education

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Speaker 1: system at different colleges and universities, UM, that was one

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Speaker 1: of my roles to assist with the onboarding process of

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Speaker 1: applying for financially making sure that you had enough to

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Speaker 1: cover the tuition in the bill. So it can depend

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Speaker 1: for each person, but in general it means, um, there

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Speaker 1: some total of how you'll pay for college? Great? Serious?

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Speaker 1: The question I want to ask them go down in

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Speaker 1: order because I think all of them when you when

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Speaker 1: you're answering one is going to affect the other one.

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Speaker 1: How do student loans affect home buying opportunities? Oh? Yeah,

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Speaker 1: this is important because as a two thousand and sixteen UM,

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Speaker 1: the federal government changed their lending practices to say that

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Speaker 1: student loan payments has to has to definitely be in

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Speaker 1: repayment and be accountant and overall that's income payment ratio

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Speaker 1: that someone has prior to that. As long as you

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Speaker 1: see the loans were in deferments for twelve months or more,

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Speaker 1: you never had to put on paper um or be

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Speaker 1: or consider what that payment would look like. It didn't

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Speaker 1: count and the equation. But as the two thousand and

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Speaker 1: six SNE does, so so many people pray the forbearance

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Speaker 1: or the differnment game that now you have to be

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Speaker 1: in repayment to qualify for a home. So that's a

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Speaker 1: big deal. Now, what are my options if I cannot

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Speaker 1: repay my federal loans? If you can't repay your loans,

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Speaker 1: well a couple of things. It's if you don't want

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Speaker 1: to pay, if you can't pay, okay, I'm trying to pay,

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Speaker 1: I'm trying to lowers. I'm trying to pay it, but

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Speaker 1: I can't. What what are my options? Because there are

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Speaker 1: two different people that's always say let's be cleared, right,

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Speaker 1: but you you have gonna sations right. There are different

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Speaker 1: forbearance and economics differmation you may be eligible for, and

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Speaker 1: a lot of times the government can subsidize the repayment

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Speaker 1: costs as well. But it comes down to understand your lifestyle.

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Speaker 1: You may not can repay because the home you're in

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Speaker 1: cost too much. The part you drive is the cost

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Speaker 1: of your student and payment. The cable may need to

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Speaker 1: be clipped. Nobody likes to hear that because that's changing

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Speaker 1: the lifestyle or what they start their liveship looked like.

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Speaker 1: But the government is wildly concerned with getting paid before

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Speaker 1: you enjoy amenities. So sometimes you do have to check

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Speaker 1: and cut back on the things that you have so

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Speaker 1: that you can live a comfortable life. So how direct

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Speaker 1: TV you know, came to watch that? I gotta go. Okay,

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Speaker 1: so let me see so shopping body fast food that

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Speaker 1: might have started cooking at the house, right, that's a

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Speaker 1: lot cheaper correct or, or you can increase your income.

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Speaker 1: Sometimes you need an additional stream of income. Sometimes you

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Speaker 1: do need to figure out I need another job or

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Speaker 1: do I need a better paying job. So the thing is,

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Speaker 1: this is an investment. So it wasn't a grant, it

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Speaker 1: wasn't a gift. So you do need to figure out

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Speaker 1: how am I going to return the investment back to

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Speaker 1: the lender. You need more income? You said something really important,

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Speaker 1: this is this was not a grant, this was this

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Speaker 1: was this was it was non federal aid. This was

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Speaker 1: a loan okay alone, And a lot of people want

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Speaker 1: to cry wolf or cry cry cry, oh all this debt?

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Speaker 1: What am I gonna do? Okay, Okay, you know, because

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Speaker 1: some people get all the way through med Sico have

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Speaker 1: two and death. So when you get out, okay, I can't.

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Speaker 1: I can't cry about that because you knew that you

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Speaker 1: went to school that far because you were trying to

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Speaker 1: get a job. They're gonna pay you a lot of money.

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Speaker 1: And then you now the government saying we're gonna know,

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Speaker 1: we want to know about that debt before you try

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Speaker 1: to buy a home, correct exactly. So they won't even

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Speaker 1: allow you to buy a home. In the pre approval process,

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Speaker 1: you're gonna be held up. So don't even get your

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Speaker 1: credit check because you just need to know going into

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Speaker 1: that's what you're listening today. Put your loans and re

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Speaker 1: payments first. And we partner with so many potential home

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Speaker 1: buyers because we had different lenders in different programs that

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Speaker 1: if you owe over fifty thousand loans, you could still

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Speaker 1: get a home. But we've got to be savvy about

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Speaker 1: how we had to show up on your credit report

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Speaker 1: and we help. I would say close to three hundred

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Speaker 1: potential buyers a month with this process, so we're very

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Speaker 1: familiar with it. Three hundred potential buyers a month. Yes, this,

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Speaker 1: I'm sure. I'm assuming this is country nationwide that you're

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Speaker 1: getting these calls. Oh yeah, exactly what we were nation

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Speaker 1: wide was client jazz. I think she said that, like us,

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Speaker 1: do you know who you're talking to? We're not just

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Speaker 1: statewide to city. Were not wrapped into a zip code

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Speaker 1: with nationwide. In fact, we worldwide. Sometimes when they dial

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Speaker 1: arone number, we tell no, we don't do anything. You know,

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Speaker 1: it's funny. We do have worldwide clients. But there, I

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Speaker 1: don't know if that there you go, there you go.

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Speaker 1: Let's talk about what does consolidation of my loans mean?

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Speaker 1: That was one of your questions. Yeah, I think you

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Speaker 1: don't supportant. A lot of people don't understand consolidation and

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Speaker 1: then they get tricked and they think that the loan

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Speaker 1: will go away or they paid you off the full. No. No, no.

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Speaker 1: Validation is just to some photovol your loans into one

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Speaker 1: manageable payment with one lender and in order to be

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Speaker 1: eligible for home money and serves forgiveness programs. You do

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Speaker 1: need to consolidate your loans. It can change the terms

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Speaker 1: of your repayments, so it can make your overall interest

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Speaker 1: rate high because it's the something average of your all

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Speaker 1: of your loans and their interest rates. So that's not fun.

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Speaker 1: But a lot of lenders and again those public service

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Speaker 1: don't forgiveness program um that are real, right, they are

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Speaker 1: priving consolidation. Well, you know, I want to tell everybody,

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Speaker 1: like early on in my life or you know, I

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Speaker 1: had multiple credit lines of credit that will open and

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Speaker 1: I consolidated. One of the best moves I did was

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Speaker 1: consolidate my loans into a single payment. But you have

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Speaker 1: to remember that's a debt, so you don't just suddenly

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Speaker 1: go out there those charges, those credit cards that you

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Speaker 1: cleaned up, don't start using them until that single debt

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Speaker 1: is paid up. And that's what people make a lot

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Speaker 1: of mistakes. They go, Okay, a single single payment, yes,

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Speaker 1: but that single payment resolved some issues over here that

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Speaker 1: you were having because you got out of hand on

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Speaker 1: your spending. So pay off that single debt, live on

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Speaker 1: the cash lifestyle, and that's that's I think it's important

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Speaker 1: that people understand that because I do that problem. I

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Speaker 1: do that in my credit cards because if I charge

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Speaker 1: something that month, then I'm gonna pay it off at

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Speaker 1: the end of the month. I do not overcharge. I

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Speaker 1: do not charge anything I can't pay off in thirty days.

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Speaker 1: I really don't. If I'm gonna charge it, it's gonna

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Speaker 1: be paid off in thirty days. Do not ever charge

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Speaker 1: anything that you go, well, I paid off down the line,

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Speaker 1: because the interest rates will kill you and you can't

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Speaker 1: write it off. You can't write it off. That's my

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Speaker 1: little note about cou Soliday loan, Like we we won't

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Speaker 1: talk about. Can you kind of hit on this a

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Speaker 1: little bit earlier how to resolve default or wage garnish loans? Yes,

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Speaker 1: So this is a big challenge because so many people,

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Speaker 1: like the example you gave by like I'm not paying

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Speaker 1: it ripping up right. So that's the group that we'll

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Speaker 1: be hearing from and about nine months, two hundred and

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Speaker 1: seventy business days, right, So that's the thing we want

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Speaker 1: to see. You know, they're not having pleasant days that

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Speaker 1: work because they're checking sixteen percent smaller each pay period.

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Speaker 1: Could could weighs donagement and the fault can be resolved. Right.

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Speaker 1: You might do it through consolidation, you might can do

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Speaker 1: it through an affordable retainment plan. But when it gets

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Speaker 1: to that point, that's when collection agencies take over. They

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Speaker 1: take it over, and they're not the nicest people. So

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Speaker 1: we help people before or even once they're at that

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Speaker 1: point because it's stressful. I mean literally, it's their job

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Speaker 1: to make you not want to come to an agreement.

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Speaker 1: Because if the collection agency can keep the loans that

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Speaker 1: they were given to work on behalf of the lender,

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Speaker 1: they get to add a six thousand dollar administration fee.

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Speaker 1: So if you never own up to this or you

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Speaker 1: start paying on it without a correct agreement, you just

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Speaker 1: added six thousand dollars to your bill. And a lot

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Speaker 1: of people don't know that exactly at the top of

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Speaker 1: the letter. But of course people don't be every detail.

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Speaker 1: Let everybody know about people. Let everybody know what garnish

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Speaker 1: and your wages. You know, like I said, you get

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Speaker 1: you you get your check, Let's say six dollars, and

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Speaker 1: the taxes come out. The tax is gonna come out.

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Speaker 1: The taxes come out, and then that mouth is left.

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Speaker 1: That's the part that's garnished. You know, they don't they

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Speaker 1: don't garnish the whole of mouth before taxes, taxes come out,

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Speaker 1: Uncle Sam get his money. Then whenever you got left, god,

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Speaker 1: well you got some some child support payments where you've

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Speaker 1: really got problems, then you know, because they're gonna get

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Speaker 1: their money. Don't care whatever left, They're gonna get their money.

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Speaker 1: And then it just keeps getting small and small and smaller. Ms. Lewis,

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Speaker 1: I want to thank you for coming on the show

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Speaker 1: that you are just you are entertaining you all. I

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Speaker 1: know that down here to say you're you're very popular

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Speaker 1: expert speaker across the country. You've shown it on this show.

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Speaker 1: And can you tell everybody in the phone number again

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Speaker 1: as well as the website so they could be one

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Speaker 1: of those three hundred callers that they call. They call

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Speaker 1: you that number and they want to get support and help,

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Speaker 1: and maybe one of those international callers who got property

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Speaker 1: stay side. Yeah. So we're open today on the nine

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Speaker 1: pm Eastern two six seven three six one one one

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Speaker 1: six and then our website is doctor Please Help Me

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Speaker 1: dot com and on Instagram you can follow my page

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Speaker 1: at the Student Loan Doctor. So thank you so much

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Speaker 1: for having us and I really appreciate your time today

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Speaker 1: and making awareness to this issue. You're you're fantastic and

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Speaker 1: we'll have you back