1 00:00:05,160 --> 00:00:06,040 Speaker 1: Welcome to the show. 2 00:00:06,240 --> 00:00:10,360 Speaker 2: I am Rashwan McDonald, the host of Money Making Conversations Masterclass, 3 00:00:10,480 --> 00:00:11,720 Speaker 2: where we encourage. 4 00:00:11,320 --> 00:00:14,280 Speaker 3: People to stop reading other people's success stories. 5 00:00:14,000 --> 00:00:18,840 Speaker 1: And start planning their own. Listen up as I interview entrepreneurs. 6 00:00:18,360 --> 00:00:21,760 Speaker 3: From around the country, talk to celebrities and ask them 7 00:00:21,880 --> 00:00:24,840 Speaker 3: how they are running their companies, and speak with nonprofits 8 00:00:25,000 --> 00:00:28,000 Speaker 3: who are making a difference in their local communities. Now 9 00:00:28,040 --> 00:00:30,560 Speaker 3: sit back and listen as we unlock the secrets to 10 00:00:30,600 --> 00:00:34,479 Speaker 3: their success on Money Making Conversations Masterclass. 11 00:00:35,520 --> 00:00:38,880 Speaker 2: Hi, I'm Rashan McDonald. I host the weekly Money Making 12 00:00:38,920 --> 00:00:43,040 Speaker 2: Conversation Masterclass show. The interviews and information that this show 13 00:00:43,040 --> 00:00:46,040 Speaker 2: provides off for everyone. It's time to stop reading other 14 00:00:46,080 --> 00:00:49,280 Speaker 2: people's success stories and start living your own. I'm here 15 00:00:49,320 --> 00:00:52,240 Speaker 2: to help you reach your American dream. Just keep listening, 16 00:00:52,640 --> 00:00:55,000 Speaker 2: just keep watching. If you want to be a guest 17 00:00:55,040 --> 00:00:59,120 Speaker 2: on my show, please visit Moneymakingconversations dot com and click 18 00:00:59,160 --> 00:01:02,320 Speaker 2: the bo guests. But let's get started with our show. 19 00:01:02,880 --> 00:01:05,640 Speaker 2: Today's guest is the CEO of an award winning business, 20 00:01:05,800 --> 00:01:09,520 Speaker 2: The Student Loan Doctor, LLC. She is considered the people's 21 00:01:09,640 --> 00:01:13,080 Speaker 2: expert for all matters related to student loan debt repayment. 22 00:01:13,360 --> 00:01:16,440 Speaker 2: She has over fourteen years of practical higher education and 23 00:01:16,520 --> 00:01:21,520 Speaker 2: financial aid experience. Please welcome to Money Making Conversations Mathters Class, 24 00:01:21,560 --> 00:01:24,120 Speaker 2: Doctor Sonya Lewis, how you doing, doctor good? 25 00:01:24,280 --> 00:01:25,880 Speaker 4: Thank you so much for having me today. 26 00:01:26,720 --> 00:01:27,160 Speaker 1: Well, first of. 27 00:01:27,160 --> 00:01:28,880 Speaker 2: All, thank you for taking the time to come on 28 00:01:28,880 --> 00:01:33,040 Speaker 2: my show. Because you I've been doing this since twenty seventeen. 29 00:01:33,560 --> 00:01:37,520 Speaker 2: You're the first student loan repayment expert I've had on 30 00:01:37,520 --> 00:01:39,560 Speaker 2: the show. I've had a lot of people talking about 31 00:01:39,560 --> 00:01:43,920 Speaker 2: getting scholarships and the HBCUs and on the spot registration. 32 00:01:44,360 --> 00:01:48,600 Speaker 2: But we know there is a major problem with students 33 00:01:48,600 --> 00:01:53,040 Speaker 2: going to college walking away with these fantastic academic degrees 34 00:01:53,320 --> 00:01:54,480 Speaker 2: but heavily in debt. 35 00:01:54,840 --> 00:01:58,400 Speaker 1: Explain to me why it is the system broke. 36 00:01:59,240 --> 00:02:02,040 Speaker 4: You know. The thing is is that if you can't 37 00:02:02,080 --> 00:02:05,880 Speaker 4: fix one problem without solving another, and so student loan debt, 38 00:02:06,080 --> 00:02:09,400 Speaker 4: that the problem really begins at the foundation which is 39 00:02:09,520 --> 00:02:13,840 Speaker 4: helping people borrow money for college. And so unless Rashan 40 00:02:13,960 --> 00:02:16,760 Speaker 4: we make it free free ninety nine in the United 41 00:02:16,800 --> 00:02:21,240 Speaker 4: States of America, this is a trillion dollar problem that 42 00:02:21,400 --> 00:02:24,480 Speaker 4: really doesn't have a solution. So even if there was 43 00:02:24,520 --> 00:02:28,079 Speaker 4: to be massive loan forgiveness, What about next semester when 44 00:02:28,080 --> 00:02:30,720 Speaker 4: there are new borrowers that accumulate new debt. And so 45 00:02:30,880 --> 00:02:34,880 Speaker 4: that's why you see different things in different conversations about 46 00:02:34,919 --> 00:02:38,400 Speaker 4: loan forgiveness and just the system itself. No one has 47 00:02:38,440 --> 00:02:42,560 Speaker 4: a solution because then we would be deregulating another trillion 48 00:02:42,600 --> 00:02:45,840 Speaker 4: dollar industry, which is the colleges in higher education. So 49 00:02:46,240 --> 00:02:48,680 Speaker 4: the problem starts from the very very beginning about what 50 00:02:48,720 --> 00:02:52,919 Speaker 4: we charge for education, who can charge what they can charge, 51 00:02:53,160 --> 00:02:55,880 Speaker 4: and who disproportionately is affected by that debt. 52 00:02:56,520 --> 00:02:58,359 Speaker 2: Well, you know, it always goes back to the person 53 00:02:58,400 --> 00:03:03,480 Speaker 2: who creates the debt. Yeah, okay, because you have options 54 00:03:03,520 --> 00:03:06,520 Speaker 2: and schools you can go to, you don't have to 55 00:03:06,520 --> 00:03:08,680 Speaker 2: go over here, or you don't have to go out 56 00:03:08,720 --> 00:03:09,080 Speaker 2: of state. 57 00:03:09,240 --> 00:03:11,239 Speaker 1: Yeah okay, you can stay in state. We I don't know. 58 00:03:11,280 --> 00:03:13,880 Speaker 2: If you travel out of state for an academic education, 59 00:03:14,320 --> 00:03:16,960 Speaker 2: it will be more expensive than being in state. So 60 00:03:17,000 --> 00:03:19,560 Speaker 2: the root of the problem is there is a system 61 00:03:20,160 --> 00:03:25,119 Speaker 2: that you're giving a loan to somebody who's not basically employable. 62 00:03:25,440 --> 00:03:26,680 Speaker 1: They don't have a job. We don't know. 63 00:03:27,240 --> 00:03:31,400 Speaker 2: Nobody will let you buy a home or car the 64 00:03:31,440 --> 00:03:33,000 Speaker 2: way student loans work. 65 00:03:33,160 --> 00:03:35,640 Speaker 4: Correct, The only major loan in the United States of 66 00:03:35,680 --> 00:03:41,240 Speaker 4: America that does not acquire major underwriting. So you are correct, and. 67 00:03:42,880 --> 00:03:46,360 Speaker 2: In that mind, you said it earlier, said Rashawn. If 68 00:03:46,400 --> 00:03:51,720 Speaker 2: they clear the debt, more debt is coming and schools 69 00:03:51,920 --> 00:03:55,400 Speaker 2: have to be paid money to stay open. Yeah, And 70 00:03:55,480 --> 00:03:59,120 Speaker 2: so you work with a lot of students, a lot 71 00:03:59,160 --> 00:04:02,560 Speaker 2: of adults. It was students when it was an immature 72 00:04:02,720 --> 00:04:07,120 Speaker 2: and made decision. Now they've grown people, families and working jobs. 73 00:04:07,640 --> 00:04:10,360 Speaker 2: They're trying to struggle to their dreams. What's the number 74 00:04:10,400 --> 00:04:13,600 Speaker 2: one fear and people who have student loans. 75 00:04:14,600 --> 00:04:16,760 Speaker 4: The fear, I think is it really gets real for 76 00:04:16,839 --> 00:04:19,080 Speaker 4: them when they're trying to enter into the real world 77 00:04:19,160 --> 00:04:21,760 Speaker 4: and be productive citizens, Like when we think about things 78 00:04:21,800 --> 00:04:24,039 Speaker 4: like home buying. This is where a student loan that 79 00:04:24,120 --> 00:04:26,560 Speaker 4: shows up most when we think about things like, oh, 80 00:04:26,640 --> 00:04:29,480 Speaker 4: I want to have good credit or good credit becomes 81 00:04:29,520 --> 00:04:32,360 Speaker 4: all of a sudden important And I know just depends 82 00:04:32,400 --> 00:04:34,680 Speaker 4: on who's watching and listening. They may say, well, what 83 00:04:34,800 --> 00:04:37,240 Speaker 4: was always important to me growing up, But everybody wasn't 84 00:04:37,279 --> 00:04:39,760 Speaker 4: raised that way. And so you find out when you 85 00:04:39,839 --> 00:04:43,800 Speaker 4: find out that your student loan is the size, if 86 00:04:43,839 --> 00:04:46,720 Speaker 4: not more than a traditional mortgage and so when you 87 00:04:46,760 --> 00:04:48,800 Speaker 4: go to buy a home, they'll say, well, with Sean, 88 00:04:48,920 --> 00:04:52,560 Speaker 4: you already have a mortgage. We can't give you another one. 89 00:04:52,680 --> 00:04:56,240 Speaker 4: And so that's when it clicks for people. Oh, I 90 00:04:56,320 --> 00:04:59,279 Speaker 4: probably shouldn't have borrowed how I borrowed. I shouldn't have 91 00:04:59,279 --> 00:05:03,120 Speaker 4: went back for this master's degree in philosophy because I 92 00:05:03,120 --> 00:05:05,560 Speaker 4: don't know how to make that marketable in the marketplace. 93 00:05:05,960 --> 00:05:09,839 Speaker 4: But see a lot of these conversations, unfortunately come after 94 00:05:10,240 --> 00:05:12,640 Speaker 4: when people are in the middle of real life or rashan. 95 00:05:12,839 --> 00:05:15,440 Speaker 4: Let's say somebody's about to get married. Now we got 96 00:05:15,480 --> 00:05:17,799 Speaker 4: to talk to our future partner about what we owe 97 00:05:17,880 --> 00:05:23,240 Speaker 4: our debts. Oh, you owe two hundred thousand. Most women 98 00:05:23,320 --> 00:05:26,200 Speaker 4: carry the highestudent loan debt balance, particularly in the African 99 00:05:26,200 --> 00:05:30,000 Speaker 4: American community, more than men. So this man may have 100 00:05:30,120 --> 00:05:33,320 Speaker 4: zero to let's say, thirty thousand in debt and this 101 00:05:33,400 --> 00:05:36,080 Speaker 4: woman has two hundred thousand. Yes, she's a high earner 102 00:05:36,120 --> 00:05:40,000 Speaker 4: most likely, maybe she has a good feel, but most 103 00:05:40,040 --> 00:05:43,280 Speaker 4: times what she's earning is never going to be equivalent 104 00:05:43,320 --> 00:05:46,040 Speaker 4: to what she has borrowed, and then she'll always be 105 00:05:46,040 --> 00:05:46,880 Speaker 4: behind the eight ball. 106 00:05:47,680 --> 00:05:50,760 Speaker 2: Wow, so let's talk about you. Okay, this is a 107 00:05:50,800 --> 00:05:55,159 Speaker 2: business model. Yeah, okay, because I'll be franked. When I 108 00:05:55,200 --> 00:05:58,039 Speaker 2: did my background surge to go, I got what she's doing. 109 00:05:58,279 --> 00:06:02,679 Speaker 2: Huh repayment forgive me business. Tell us how you saw 110 00:06:02,920 --> 00:06:05,960 Speaker 2: this lane of opportunity to start your company. 111 00:06:06,160 --> 00:06:08,919 Speaker 4: I'll tell you. The business started with me being in 112 00:06:09,000 --> 00:06:12,200 Speaker 4: church first for Sean and I was going through my 113 00:06:12,400 --> 00:06:14,520 Speaker 4: own financial counselor, if you will. I think I was 114 00:06:14,560 --> 00:06:17,440 Speaker 4: about twenty six, twenty seven, and it hit me just 115 00:06:17,480 --> 00:06:19,400 Speaker 4: the things that we just said. I'm like, oh my god, 116 00:06:19,720 --> 00:06:21,320 Speaker 4: this credit is important. I want to buy a house, 117 00:06:21,320 --> 00:06:23,400 Speaker 4: and just life was hitting me right as a young adult. 118 00:06:23,640 --> 00:06:25,680 Speaker 4: And I had a good professional career working in the 119 00:06:25,720 --> 00:06:29,279 Speaker 4: city at Philadelphia and higher education. And then what happened. 120 00:06:29,320 --> 00:06:33,919 Speaker 4: What I realized is people around me had questions. But 121 00:06:34,000 --> 00:06:36,280 Speaker 4: you know when you call your lender and you ask 122 00:06:36,360 --> 00:06:38,719 Speaker 4: for help, like you just want to ask questions. You 123 00:06:38,800 --> 00:06:40,880 Speaker 4: just want to talk about what's going on and what 124 00:06:41,000 --> 00:06:44,560 Speaker 4: options you have. They were not knowledgeable. They were very 125 00:06:44,640 --> 00:06:48,960 Speaker 4: short with me. And what's funny is this has always 126 00:06:49,000 --> 00:06:53,400 Speaker 4: been in my toolbox as a professional. I've helped adult 127 00:06:53,480 --> 00:06:56,640 Speaker 4: learners on the enrollment side, and then also as an 128 00:06:56,640 --> 00:07:00,719 Speaker 4: advisor of financial aid. I was studying this in my 129 00:07:00,800 --> 00:07:03,919 Speaker 4: doctoral degree house to loan that affects African American women. 130 00:07:04,200 --> 00:07:06,440 Speaker 4: So I was already in the trenches and didn't realize it. 131 00:07:06,720 --> 00:07:08,480 Speaker 4: And then I say, you know what, I was like, 132 00:07:08,520 --> 00:07:10,280 Speaker 4: I know a lot of these answers. Let me just 133 00:07:10,320 --> 00:07:12,280 Speaker 4: look at the stuff I don't know and figure it out. 134 00:07:12,480 --> 00:07:15,400 Speaker 4: So then we had this wonderful website called studenta dot gov. 135 00:07:15,800 --> 00:07:19,280 Speaker 4: So I started like consuming it, being a master of it. 136 00:07:19,640 --> 00:07:22,080 Speaker 4: And then I would call and just fact check what 137 00:07:22,200 --> 00:07:24,640 Speaker 4: I knew. I said, you know what, I think I 138 00:07:24,640 --> 00:07:27,400 Speaker 4: could start a consulting business. So what I did when 139 00:07:27,440 --> 00:07:29,920 Speaker 4: I was working my nine to five is from six 140 00:07:29,960 --> 00:07:33,040 Speaker 4: to ten, I would meet with people in the city Philadelphia. 141 00:07:33,320 --> 00:07:35,480 Speaker 4: You could meet me at a cozy with Sean. I 142 00:07:35,480 --> 00:07:39,760 Speaker 4: had office hours at a corner bakery and people. I 143 00:07:39,760 --> 00:07:42,680 Speaker 4: had to flirt with the manager to save my little 144 00:07:42,720 --> 00:07:45,040 Speaker 4: spot in the corner with the with the outlet for 145 00:07:45,120 --> 00:07:48,400 Speaker 4: my laptop. It was some you know, I still owe 146 00:07:48,440 --> 00:07:51,720 Speaker 4: some people some dates. But anyway, the manager loved what 147 00:07:51,760 --> 00:07:54,400 Speaker 4: I was doing and people were showing up and I 148 00:07:54,480 --> 00:07:57,560 Speaker 4: was charging at the time, like fifty dollars for the hour. 149 00:07:57,600 --> 00:07:59,600 Speaker 4: I didn't know how to price this thing. Out at first, 150 00:08:00,120 --> 00:08:02,720 Speaker 4: and nobody missed an appointment. I could tell you to 151 00:08:02,720 --> 00:08:04,200 Speaker 4: this day, and even to this day, people don't miss 152 00:08:04,240 --> 00:08:07,080 Speaker 4: their appointments with us. We have a very very low 153 00:08:07,800 --> 00:08:10,560 Speaker 4: rate of people missing appointments because it's very serious to them. 154 00:08:11,000 --> 00:08:14,240 Speaker 4: And I would take appointments from six to ten at 155 00:08:14,240 --> 00:08:16,840 Speaker 4: the corner bakery and as long as I ordered me 156 00:08:16,920 --> 00:08:19,760 Speaker 4: a little muffin, I could just sit there with my 157 00:08:19,880 --> 00:08:26,000 Speaker 4: water by muffin. Oh my, the WiFi is built there office. 158 00:08:26,760 --> 00:08:28,960 Speaker 4: And I would say after doing that for about four months, 159 00:08:28,960 --> 00:08:30,800 Speaker 4: I was able to get an office the size of 160 00:08:30,840 --> 00:08:34,119 Speaker 4: a little bathroom. But that's all right. It was professional 161 00:08:34,160 --> 00:08:36,440 Speaker 4: and I felt more established and I was taking clients 162 00:08:36,480 --> 00:08:39,000 Speaker 4: again six to ten. So I did that work for 163 00:08:39,040 --> 00:08:42,400 Speaker 4: about a year. And what was happening in and that 164 00:08:43,000 --> 00:08:45,440 Speaker 4: four hours and then you put the weekends into it. 165 00:08:45,559 --> 00:08:48,240 Speaker 4: I was making more with that than my full time job. 166 00:08:49,240 --> 00:08:51,520 Speaker 4: So I said, all right, well here's how is how 167 00:08:51,520 --> 00:08:54,640 Speaker 4: would go? Let's hit fast forward. We went viral. So 168 00:08:54,679 --> 00:08:56,959 Speaker 4: I put out in twenty eighteen that I'm the first 169 00:08:57,000 --> 00:08:59,679 Speaker 4: African American woman owned student loan repayment company. And to 170 00:08:59,720 --> 00:09:02,600 Speaker 4: cut it was Black History Month of twenty eighteen. I 171 00:09:02,640 --> 00:09:04,680 Speaker 4: put it out there, and at that time I weighed 172 00:09:04,679 --> 00:09:07,480 Speaker 4: one hundred pounds more. But my confidence has always been 173 00:09:07,520 --> 00:09:10,200 Speaker 4: what it is now. And I'm like, you know, and 174 00:09:10,240 --> 00:09:13,040 Speaker 4: I put it out there. Oh well, next thing you know, 175 00:09:13,120 --> 00:09:15,679 Speaker 4: it went viral. So all the blocks picked it up, 176 00:09:16,080 --> 00:09:18,760 Speaker 4: all the websites picked it up, then the morning shows 177 00:09:18,800 --> 00:09:21,400 Speaker 4: picked it up, then National TV picked it up, and 178 00:09:21,480 --> 00:09:24,920 Speaker 4: I'm like, whoa wait a minute, And then i had 179 00:09:24,960 --> 00:09:29,800 Speaker 4: one thousand DMS, eight hundred emails, and it really told 180 00:09:29,840 --> 00:09:32,079 Speaker 4: me you are in the middle of a big problem. 181 00:09:32,120 --> 00:09:35,400 Speaker 4: And when you are an entrepreneur becoming an entrepreneur, you 182 00:09:35,400 --> 00:09:37,280 Speaker 4: want to put yourself in the middle of a big problem. 183 00:09:37,520 --> 00:09:40,120 Speaker 4: And as you said, you never had this person here 184 00:09:40,200 --> 00:09:43,360 Speaker 4: before because there wasn't me, There was no meat before. 185 00:09:43,880 --> 00:09:48,160 Speaker 4: People were shying away from this conversation. You had the 186 00:09:48,200 --> 00:09:51,440 Speaker 4: people that talked about scholarships, you had the people that 187 00:09:51,520 --> 00:09:55,120 Speaker 4: talked about financial aid. But who was helping the adult 188 00:09:55,120 --> 00:09:57,880 Speaker 4: that already had And so I've been very clear since 189 00:09:57,960 --> 00:10:00,240 Speaker 4: they won. In my lane, I only want to talk 190 00:10:00,240 --> 00:10:03,760 Speaker 4: about having student loans. I can't help out the corrective. 191 00:10:03,760 --> 00:10:06,160 Speaker 4: That's not my lane. I will refer you and I 192 00:10:06,320 --> 00:10:07,960 Speaker 4: just lived in the middle of that, and then I 193 00:10:08,080 --> 00:10:11,680 Speaker 4: just priced out my thirty minute time, and then I 194 00:10:11,720 --> 00:10:16,679 Speaker 4: taught others duplicated me. Investing in mentors, investing in systems, 195 00:10:17,120 --> 00:10:20,040 Speaker 4: and business has been fruitful really since well it started 196 00:10:20,080 --> 00:10:23,080 Speaker 4: in twenty sixteen, but eighteen because of the Shade Room 197 00:10:23,480 --> 00:10:26,480 Speaker 4: and other big entities that blew it up. You know, 198 00:10:26,520 --> 00:10:28,880 Speaker 4: we've been up from there. So it's been a really 199 00:10:28,880 --> 00:10:31,200 Speaker 4: fun journey. But in the middle of it, we're helping 200 00:10:31,240 --> 00:10:31,840 Speaker 4: a lot of people. 201 00:10:32,520 --> 00:10:34,280 Speaker 2: Well, first of all, you know, I'm talking to doctor 202 00:10:34,280 --> 00:10:37,680 Speaker 2: Sonya Lewis, and the award winning business that she's talking 203 00:10:37,679 --> 00:10:40,960 Speaker 2: about is the student loan Doctor. She's considered the people's 204 00:10:41,080 --> 00:10:44,839 Speaker 2: expert for all matters related to student loan debt repayment. 205 00:10:45,160 --> 00:10:47,920 Speaker 2: She said she has over fourteen years of practical higher 206 00:10:48,000 --> 00:10:53,080 Speaker 2: education and financial aid experience. Now, I love your story. 207 00:10:53,640 --> 00:10:57,760 Speaker 2: It talks about, you know, figuring out a way to 208 00:10:58,120 --> 00:11:01,480 Speaker 2: be successful. We said, look, I don't have an office space, 209 00:11:01,520 --> 00:11:03,719 Speaker 2: but I'm gonna take because you know, your business is 210 00:11:03,760 --> 00:11:06,040 Speaker 2: gonna a lot of it's gonna be female. Put them 211 00:11:06,040 --> 00:11:09,280 Speaker 2: in an environment. Hey, I'm at just to quote Starbucks 212 00:11:09,880 --> 00:11:12,200 Speaker 2: right there. Oh, okay, I meet you over there or I'm 213 00:11:12,200 --> 00:11:14,920 Speaker 2: at Panera bread. Okay, I meet you over there. So 214 00:11:15,000 --> 00:11:18,880 Speaker 2: you immediately put people in the comfort zone to say 215 00:11:18,920 --> 00:11:21,520 Speaker 2: where you're gonna be, and also in an environment they 216 00:11:21,520 --> 00:11:24,400 Speaker 2: feel comfortable because you know you're in an environment that 217 00:11:24,840 --> 00:11:27,880 Speaker 2: they're familiar with, or they can grab a snack and 218 00:11:28,400 --> 00:11:31,000 Speaker 2: know they can sit there and be comfortable. Then guess what, 219 00:11:31,240 --> 00:11:34,960 Speaker 2: they can feel free and comfortable about talking about their problems. 220 00:11:35,080 --> 00:11:38,200 Speaker 1: Right, But the problem we have here is that debt 221 00:11:38,280 --> 00:11:42,120 Speaker 1: that they have created that they can't pay back. 222 00:11:42,760 --> 00:11:47,679 Speaker 2: Now, your business model, Now, how did you come up 223 00:11:47,720 --> 00:11:48,200 Speaker 2: with your name? 224 00:11:48,679 --> 00:11:49,800 Speaker 1: So business? 225 00:11:50,320 --> 00:11:52,520 Speaker 4: Because I was in school for my doctoral degree with 226 00:11:52,640 --> 00:11:55,240 Speaker 4: helping people with student loans. I was like, hm, that's 227 00:11:55,240 --> 00:11:58,040 Speaker 4: the idea. And then I met a young lady out 228 00:11:58,080 --> 00:12:01,200 Speaker 4: of DC. She called herself the big Business Doctor, and 229 00:12:01,240 --> 00:12:03,040 Speaker 4: she was like one of the first classes I ever 230 00:12:03,080 --> 00:12:06,280 Speaker 4: took on just understanding entrepreneurship. So I did something that 231 00:12:06,280 --> 00:12:08,560 Speaker 4: people don't do these days, which y'all not asked her, 232 00:12:08,880 --> 00:12:12,280 Speaker 4: would you mind if I called myself the business of 233 00:12:12,440 --> 00:12:14,640 Speaker 4: the student loan doctor, because you're the business doctor, and 234 00:12:14,640 --> 00:12:17,120 Speaker 4: I think it just clicks and makes sense if somebody 235 00:12:17,160 --> 00:12:19,720 Speaker 4: needs you, she said, Nobody has ever asked me that 236 00:12:19,760 --> 00:12:22,520 Speaker 4: I really appreciate you asking. She said, I think that'd 237 00:12:22,520 --> 00:12:24,880 Speaker 4: be a wonderful name, and then that was the name. 238 00:12:25,080 --> 00:12:27,480 Speaker 4: And so not to be funny. If you know your 239 00:12:27,520 --> 00:12:30,079 Speaker 4: student loans need some help, you're going to want to 240 00:12:30,120 --> 00:12:33,600 Speaker 4: go to a doctor. So I just needed for people. 241 00:12:33,960 --> 00:12:35,719 Speaker 4: I didn't want you to do flord about it. 242 00:12:36,480 --> 00:12:37,200 Speaker 1: Absolutely. 243 00:12:37,280 --> 00:12:39,920 Speaker 2: So what is your academic training you talked about fourteen 244 00:12:40,000 --> 00:12:41,839 Speaker 2: years of Yeah, I. 245 00:12:41,760 --> 00:12:43,760 Speaker 4: Have a well, let's back up. So I've been working 246 00:12:43,760 --> 00:12:47,120 Speaker 4: at Higher read since I graduated college. I have an 247 00:12:47,280 --> 00:12:52,280 Speaker 4: EDS in higher education and then recently an honorary doctoral 248 00:12:52,320 --> 00:12:56,040 Speaker 4: degree was received. But my life's work was really just 249 00:12:56,120 --> 00:12:59,839 Speaker 4: committed to understanding how student loan debt affects minorities and 250 00:13:00,080 --> 00:13:03,200 Speaker 4: African American women. It just tickles me pink to study 251 00:13:03,240 --> 00:13:06,920 Speaker 4: it because when we look at the number statistically African 252 00:13:06,920 --> 00:13:09,920 Speaker 4: American women have the most degrees in our country, and 253 00:13:10,080 --> 00:13:13,640 Speaker 4: also coincides with that number is the most student loan debt. 254 00:13:13,800 --> 00:13:16,760 Speaker 4: But now that's not showing up when we talk about 255 00:13:16,800 --> 00:13:19,560 Speaker 4: what the earnings are. That's not shown up when we 256 00:13:19,600 --> 00:13:24,600 Speaker 4: talk about home ownership or entrepreneurship. It could be greater, 257 00:13:24,840 --> 00:13:27,040 Speaker 4: but there's a thing called a student loan that might 258 00:13:27,040 --> 00:13:30,280 Speaker 4: be financially holder than back. So as an African American woman, 259 00:13:30,320 --> 00:13:33,120 Speaker 4: I'm wildly invested in that topic. And so what was 260 00:13:33,160 --> 00:13:35,480 Speaker 4: happening when the business got started was that I was 261 00:13:35,520 --> 00:13:39,280 Speaker 4: attracting who other African American women. Now we serve all 262 00:13:39,400 --> 00:13:42,080 Speaker 4: type of clientele now, but in the beginning I was 263 00:13:42,120 --> 00:13:44,320 Speaker 4: comfortable and just was talking to people that look like me, 264 00:13:44,880 --> 00:13:47,120 Speaker 4: and there was a whole lot of them, And nobody 265 00:13:47,120 --> 00:13:50,359 Speaker 4: ever made people feel judged. I don't make you feel 266 00:13:50,800 --> 00:13:53,000 Speaker 4: and I'm very big on that. If you owe nine 267 00:13:53,080 --> 00:13:55,000 Speaker 4: hundred thousand dollars, I'm not going to start off the 268 00:13:55,000 --> 00:13:57,520 Speaker 4: call and say what happened? What's going on here? You know, 269 00:13:57,600 --> 00:13:59,960 Speaker 4: we're going to get right into We're gonna get right 270 00:14:00,080 --> 00:14:00,360 Speaker 4: into this. 271 00:14:01,240 --> 00:14:02,720 Speaker 1: Make it feel stupid up front. 272 00:14:03,520 --> 00:14:06,640 Speaker 4: Already carrying a lot of shame. You know. The thing is, 273 00:14:06,679 --> 00:14:09,559 Speaker 4: this thing shows up in its quiet time. It's the 274 00:14:09,600 --> 00:14:11,080 Speaker 4: thing that plays in the back of your mind when 275 00:14:11,120 --> 00:14:13,120 Speaker 4: no one else is around. It's the thing that comes 276 00:14:13,200 --> 00:14:15,719 Speaker 4: up when you're talking about conversations of credit when you're 277 00:14:15,720 --> 00:14:18,200 Speaker 4: with your peers, or home ownership when you're with your peers, 278 00:14:18,440 --> 00:14:21,080 Speaker 4: the thing that could be delaying starting the family because 279 00:14:21,080 --> 00:14:22,320 Speaker 4: I don't know how I'm going to start a family 280 00:14:22,320 --> 00:14:24,640 Speaker 4: with this type of student loan payment. It's the thing 281 00:14:24,720 --> 00:14:26,840 Speaker 4: that shows up that nobody talks about. And when we 282 00:14:26,880 --> 00:14:28,880 Speaker 4: see each other, we can't see each other's credit score, 283 00:14:28,960 --> 00:14:32,040 Speaker 4: bank accounts and debt ode. But it is the thing 284 00:14:32,120 --> 00:14:35,280 Speaker 4: that I found that people wanted to talk about in 285 00:14:35,320 --> 00:14:37,680 Speaker 4: a healthy environment. I think that's why the business has 286 00:14:37,800 --> 00:14:40,400 Speaker 4: organically grown and been so successful. 287 00:14:41,000 --> 00:14:44,160 Speaker 5: Please don't go anywhere. We'll be right back with more 288 00:14:44,240 --> 00:14:54,280 Speaker 5: Money Making Conversations Masterclass. Welcome back to the Money Making 289 00:14:54,360 --> 00:14:57,480 Speaker 5: Conversations Masterclass, hosted by Rashaan McDonald. 290 00:14:58,160 --> 00:15:01,000 Speaker 2: Okay, cool, now I'm talking this dot to Sonya Lewis, 291 00:15:01,320 --> 00:15:08,880 Speaker 2: the Student Loan Doctor LLC. Your business. It's tied, like 292 00:15:08,920 --> 00:15:12,280 Speaker 2: you said, the people embarrassment. Oh, I don't want to 293 00:15:12,280 --> 00:15:16,080 Speaker 2: tell nobody, but you can't move forward because these loans. 294 00:15:16,120 --> 00:15:19,040 Speaker 2: I know men and women who have this problem and 295 00:15:19,120 --> 00:15:22,160 Speaker 2: in their thirties going into their forties, So there's not 296 00:15:22,240 --> 00:15:23,760 Speaker 2: a young Perpson problem. 297 00:15:23,920 --> 00:15:26,560 Speaker 1: It can extend that loan and these people who. 298 00:15:26,400 --> 00:15:30,400 Speaker 2: Have graduated twenty years ago still have loaned deb Now 299 00:15:31,040 --> 00:15:34,640 Speaker 2: how did you How does one go about contacting you? 300 00:15:35,000 --> 00:15:37,680 Speaker 2: And how does that conversation happen. You kind of talked 301 00:15:37,680 --> 00:15:40,400 Speaker 2: about a little bit, but let's hit let my audience 302 00:15:40,440 --> 00:15:42,120 Speaker 2: hear the process. 303 00:15:42,320 --> 00:15:44,440 Speaker 4: So if somebody was to connect with us, they'll probably 304 00:15:44,440 --> 00:15:48,800 Speaker 4: find us through social media, a blog, a podcast, a 305 00:15:48,840 --> 00:15:52,760 Speaker 4: live event. And we used to having our model where 306 00:15:52,760 --> 00:15:55,360 Speaker 4: they could have a free discovery call. Well, the thing 307 00:15:55,480 --> 00:15:58,160 Speaker 4: is our business is in such demand the last few 308 00:15:58,240 --> 00:16:01,360 Speaker 4: years that we eliminated the discovery call, and somebody will 309 00:16:01,440 --> 00:16:04,120 Speaker 4: go straight to a consultation. But we're very clear about 310 00:16:04,120 --> 00:16:06,800 Speaker 4: what that is. That's a thirty minute phone call expressing 311 00:16:06,800 --> 00:16:09,680 Speaker 4: your concerns and then looking at your student loans with 312 00:16:09,760 --> 00:16:12,800 Speaker 4: you and giving you some solutions. From there, you can 313 00:16:12,840 --> 00:16:15,280 Speaker 4: say I got it, I can do this myself, or 314 00:16:15,440 --> 00:16:17,280 Speaker 4: can you help me? And then we talk about what 315 00:16:17,320 --> 00:16:20,080 Speaker 4: help can look like. And we still keep everything very 316 00:16:20,200 --> 00:16:23,520 Speaker 4: very priced affordably. Our counterparts are people that have come 317 00:16:23,560 --> 00:16:27,840 Speaker 4: up in the industry thereafter they priced us out times three. 318 00:16:28,120 --> 00:16:31,280 Speaker 4: But I never wanted to leave from someone that was 319 00:16:31,320 --> 00:16:32,920 Speaker 4: a teacher, and let's said that make sixty K a 320 00:16:32,960 --> 00:16:35,200 Speaker 4: year of being able to afford us. I'm very very 321 00:16:35,200 --> 00:16:38,240 Speaker 4: big on that because what I believe is quantity will 322 00:16:38,240 --> 00:16:40,600 Speaker 4: always provide, so I don't have a shortage of clients, 323 00:16:40,960 --> 00:16:43,800 Speaker 4: and the way that we teach and put out information, 324 00:16:43,960 --> 00:16:47,080 Speaker 4: we don't have a shortage of reach. So just an 325 00:16:47,120 --> 00:16:50,560 Speaker 4: example recently, this past Sunday, we had a class registration 326 00:16:50,600 --> 00:16:54,000 Speaker 4: of fourteen hundred people and about seven hundred people showed 327 00:16:54,080 --> 00:16:58,600 Speaker 4: up and then from that seven, Yeah, go ahead, what. 328 00:17:00,560 --> 00:17:01,880 Speaker 1: A class. See. 329 00:17:01,920 --> 00:17:04,439 Speaker 2: I love people who do business and they just be 330 00:17:04,520 --> 00:17:06,280 Speaker 2: so successful at it, they. 331 00:17:06,160 --> 00:17:07,120 Speaker 1: Just throw out numbers. 332 00:17:07,960 --> 00:17:10,560 Speaker 2: We're the class registration of fourteen hundred people and seven 333 00:17:10,640 --> 00:17:13,200 Speaker 2: hundred people showed up. I'm sure this was virtual, correct, 334 00:17:14,200 --> 00:17:16,840 Speaker 2: it was virtual? The fact you have fourteen hundred people 335 00:17:17,560 --> 00:17:21,280 Speaker 2: registered for a course. Now all these people had to 336 00:17:21,280 --> 00:17:22,000 Speaker 2: pay up front? 337 00:17:22,080 --> 00:17:23,360 Speaker 1: No, or how did that work? 338 00:17:23,520 --> 00:17:27,280 Speaker 4: No, it was free and them to show up is free. 339 00:17:27,560 --> 00:17:29,720 Speaker 4: Now they want to get the replay, then they're probably 340 00:17:29,800 --> 00:17:32,119 Speaker 4: inside of our community. So we have a community that 341 00:17:32,160 --> 00:17:34,880 Speaker 4: we charged to ninety seven for the year to get 342 00:17:34,920 --> 00:17:37,760 Speaker 4: access to all of the classes we've ever had. And 343 00:17:37,800 --> 00:17:39,600 Speaker 4: we teach a lot of classes and bring a lot 344 00:17:39,600 --> 00:17:42,440 Speaker 4: of guest teachers. So that's like our university model. That's 345 00:17:42,480 --> 00:17:45,359 Speaker 4: to the side, but it's nothing for you to join 346 00:17:45,400 --> 00:17:48,720 Speaker 4: into class and I teach a lot. So my background 347 00:17:48,760 --> 00:17:51,720 Speaker 4: as an educator, used to be a professor. I love teaching. 348 00:17:52,200 --> 00:17:54,800 Speaker 4: My mama was a teacher, my grandmother was a teacher, 349 00:17:54,880 --> 00:17:56,960 Speaker 4: on my aunts on my dad's side. As a teacher, 350 00:17:57,800 --> 00:18:01,720 Speaker 4: it's just I'm a teacher, so you know, I enjoy it. 351 00:18:01,920 --> 00:18:04,800 Speaker 4: So when I was teaching on Sunday class one, probably 352 00:18:04,800 --> 00:18:08,480 Speaker 4: for about ninety minutes, and nobody left. The class stayed 353 00:18:08,560 --> 00:18:11,480 Speaker 4: full and to the very end. From there, they can 354 00:18:11,520 --> 00:18:13,400 Speaker 4: decide if they want to book a call with us, 355 00:18:14,000 --> 00:18:16,320 Speaker 4: and that's their prerogative at that point. But it didn't 356 00:18:16,359 --> 00:18:17,640 Speaker 4: cost them anything to show up. 357 00:18:18,840 --> 00:18:22,399 Speaker 2: Wow, I just love it. Now you've been fortunate because 358 00:18:22,400 --> 00:18:25,600 Speaker 2: we used the word award winning. Yeah, you're based in 359 00:18:25,600 --> 00:18:26,800 Speaker 2: the city of Philadelphia. 360 00:18:26,840 --> 00:18:28,520 Speaker 1: Talk about the awards that you're business. 361 00:18:28,600 --> 00:18:31,200 Speaker 4: Yeah I received. Let me see, I have about two 362 00:18:31,240 --> 00:18:33,760 Speaker 4: of them citations from the City of Philadelphia. So you 363 00:18:33,800 --> 00:18:36,240 Speaker 4: gotta a member with Sean. When I first kicked it off, 364 00:18:36,680 --> 00:18:38,720 Speaker 4: I was, let me tell something, I didn't even know 365 00:18:38,760 --> 00:18:40,560 Speaker 4: that it was legal for you to order a lab coat. 366 00:18:40,800 --> 00:18:42,879 Speaker 4: I had a little lab coat my name that's showing it. 367 00:18:43,160 --> 00:18:45,560 Speaker 4: And I was shown up as a student loan doctor. Okay, 368 00:18:45,760 --> 00:18:48,640 Speaker 4: I call it being a professional. Outside I was doing 369 00:18:48,720 --> 00:18:51,960 Speaker 4: live events on my own dime, or I was doing 370 00:18:51,960 --> 00:18:54,159 Speaker 4: things for the City of Philadelphia or the Chamber of 371 00:18:54,280 --> 00:18:58,480 Speaker 4: Commerce or the Urban League, whatever professional entity needed me. 372 00:18:58,960 --> 00:19:02,280 Speaker 4: I was shown up in teaching for free, and hundreds 373 00:19:02,320 --> 00:19:04,800 Speaker 4: of people would show up and with the notebook, with 374 00:19:04,840 --> 00:19:07,320 Speaker 4: the logging in on their phones, and it was just 375 00:19:07,400 --> 00:19:10,239 Speaker 4: like the coaching session that we never had. And so 376 00:19:10,280 --> 00:19:12,520 Speaker 4: we were doing some really remarkable things at that time 377 00:19:12,560 --> 00:19:14,880 Speaker 4: in the city. And that's how we got a lot 378 00:19:14,880 --> 00:19:18,080 Speaker 4: of our notoriety and our citations, because if there was 379 00:19:18,160 --> 00:19:21,520 Speaker 4: anybody working and I didn't ask for any money or help, 380 00:19:21,600 --> 00:19:23,879 Speaker 4: it was us. This is wild at this time. I 381 00:19:23,880 --> 00:19:27,160 Speaker 4: think at this time I had just left my job 382 00:19:27,280 --> 00:19:29,560 Speaker 4: and I was doing this work full time. So it's 383 00:19:29,600 --> 00:19:32,000 Speaker 4: like it's like I would hope that I could convert 384 00:19:32,040 --> 00:19:34,119 Speaker 4: people from this free conversation because I didn't have the 385 00:19:34,200 --> 00:19:37,639 Speaker 4: model down just yet. But obviously after that teaching they 386 00:19:37,680 --> 00:19:39,720 Speaker 4: would convert over cool. 387 00:19:39,800 --> 00:19:43,240 Speaker 2: And so after that you sat in place a business model. Yes, 388 00:19:43,760 --> 00:19:46,320 Speaker 2: and so because I would like to talk about entrepreneurs 389 00:19:46,359 --> 00:19:48,560 Speaker 2: about that, because the biggest mistaking world you're not going 390 00:19:48,600 --> 00:19:50,520 Speaker 2: to move forward to you have a business model, You're 391 00:19:50,520 --> 00:19:53,480 Speaker 2: not going to move forward to you can strut forecasting 392 00:19:53,640 --> 00:19:57,439 Speaker 2: income and generating revenue consistently, then you can hire people 393 00:19:57,560 --> 00:19:58,960 Speaker 2: and pay for your life bills. 394 00:19:58,720 --> 00:20:02,080 Speaker 1: And keep your rent paid. When did you realize that? 395 00:20:02,440 --> 00:20:05,879 Speaker 2: Okay, you know, I know you quit your job, Sonya Lewis, 396 00:20:07,000 --> 00:20:08,240 Speaker 2: When did you realize you know something? 397 00:20:08,280 --> 00:20:09,200 Speaker 1: I got something here. 398 00:20:10,119 --> 00:20:12,160 Speaker 4: I knew I had something before I quit my job, 399 00:20:12,200 --> 00:20:14,679 Speaker 4: because I had dated that shows it was sustainable for 400 00:20:14,840 --> 00:20:17,919 Speaker 4: me and it was consistent money. And I remember I 401 00:20:17,960 --> 00:20:20,440 Speaker 4: called well now, I called my mom's staff. I text 402 00:20:20,480 --> 00:20:23,200 Speaker 4: my mom. I said, mom's a long paragraph. I said, 403 00:20:23,200 --> 00:20:25,719 Speaker 4: this is what I want to do. If it sells, 404 00:20:25,760 --> 00:20:28,040 Speaker 4: will I be homeless? Yes? Or no? All I needed 405 00:20:28,119 --> 00:20:30,600 Speaker 4: was a yesterday. That's really a real text. She said, no, 406 00:20:30,640 --> 00:20:32,520 Speaker 4: you won't be homeless because again I was living by 407 00:20:32,520 --> 00:20:35,399 Speaker 4: myself and I was supporting myself, and I never I 408 00:20:35,480 --> 00:20:39,399 Speaker 4: never failed. I never had a bad year. I always 409 00:20:39,520 --> 00:20:43,280 Speaker 4: was really successful. And the success grew after things like 410 00:20:43,359 --> 00:20:46,000 Speaker 4: the Shade Room, after the media really made us like 411 00:20:46,040 --> 00:20:47,360 Speaker 4: a national highlight. 412 00:20:47,400 --> 00:20:49,359 Speaker 1: If you will, that's awesome. 413 00:20:49,400 --> 00:20:51,560 Speaker 2: I'm talking to doctor. I can't say it enough, you know, 414 00:20:51,680 --> 00:20:54,639 Speaker 2: doctor Sonya Lewis. She is the creator of the award 415 00:20:54,760 --> 00:20:58,160 Speaker 2: winning business called the Student long doctor, because like I said, 416 00:20:59,440 --> 00:21:01,960 Speaker 2: I can I feel sorry for people who create that, 417 00:21:02,600 --> 00:21:04,879 Speaker 2: but I can't feel sorry for them when they can't 418 00:21:05,080 --> 00:21:08,360 Speaker 2: when they're doing it to better them their lives, And 419 00:21:08,440 --> 00:21:13,280 Speaker 2: I almost feel like it's a it's almost a bad situation. 420 00:21:13,920 --> 00:21:15,760 Speaker 2: When I was in college, they give you a credit 421 00:21:15,800 --> 00:21:17,880 Speaker 2: card because you was in college, and you go out 422 00:21:17,920 --> 00:21:20,119 Speaker 2: there and use the credit card even though you're not working, 423 00:21:20,560 --> 00:21:22,800 Speaker 2: generating debt. So there are a lot of things that 424 00:21:22,960 --> 00:21:28,119 Speaker 2: happen in college to eighteen nineteen twenty year old people 425 00:21:29,040 --> 00:21:32,600 Speaker 2: that should receive better counseling or at least be restricted. 426 00:21:33,200 --> 00:21:37,280 Speaker 2: What advice would you give to universities, because you're a 427 00:21:37,280 --> 00:21:40,520 Speaker 2: person that are meeting these young people who are now adults, 428 00:21:40,560 --> 00:21:43,000 Speaker 2: who now have children, who are now trying to buy home, 429 00:21:43,240 --> 00:21:46,280 Speaker 2: who are now trying to start relationships, who in their forties, 430 00:21:46,320 --> 00:21:49,639 Speaker 2: in their fifties and trying to move on with different careers, 431 00:21:49,920 --> 00:21:52,760 Speaker 2: but are strapped with these with these debts. 432 00:21:53,280 --> 00:21:55,960 Speaker 4: You know, the conversation is an interesting one because when 433 00:21:55,960 --> 00:21:58,440 Speaker 4: I think about somebody like myself that went to college, 434 00:21:58,720 --> 00:22:01,920 Speaker 4: I dig it a full at academic scholarship my second 435 00:22:01,960 --> 00:22:04,840 Speaker 4: semester into my freshman year, and I had some money 436 00:22:04,840 --> 00:22:07,679 Speaker 4: coming into college through scholarships from high school. But what 437 00:22:07,720 --> 00:22:11,120 Speaker 4: I did have with Sean was a monetary familiar support 438 00:22:11,359 --> 00:22:13,719 Speaker 4: because my mom had just got sick the year prior. 439 00:22:14,119 --> 00:22:16,480 Speaker 4: The plan was for her to help me cash pay school. 440 00:22:16,600 --> 00:22:19,160 Speaker 4: She was a teacher making about sixty five k year, 441 00:22:19,440 --> 00:22:21,600 Speaker 4: but she got really sick and had to early retire. 442 00:22:21,680 --> 00:22:25,000 Speaker 4: We couldn't expect for that, right, so we had to pivot. 443 00:22:25,040 --> 00:22:27,560 Speaker 4: And pivot was you got to get some scholarship money. 444 00:22:27,720 --> 00:22:29,680 Speaker 4: But then when I went to school, you see v Sean, 445 00:22:29,760 --> 00:22:32,960 Speaker 4: there were still other expenses. I couldn't account for transportation, 446 00:22:33,160 --> 00:22:36,040 Speaker 4: the social aspect of college. And I don't care what 447 00:22:36,040 --> 00:22:38,800 Speaker 4: anybody says, like you, if you especially be going to 448 00:22:38,800 --> 00:22:40,359 Speaker 4: a school in a different environment, they got to get 449 00:22:40,359 --> 00:22:42,000 Speaker 4: closed you didn't have to have when you were coming 450 00:22:42,000 --> 00:22:46,119 Speaker 4: from home. And so what happens is if you don't 451 00:22:46,240 --> 00:22:50,480 Speaker 4: understand money going into school and somebody hands you I 452 00:22:50,520 --> 00:22:52,000 Speaker 4: wanted you to just put your hand out right now 453 00:22:52,040 --> 00:22:55,440 Speaker 4: with Sean. If I handed you four thousand dollars and 454 00:22:55,520 --> 00:22:57,240 Speaker 4: you don't know what to do with this, you don't 455 00:22:57,240 --> 00:22:58,520 Speaker 4: know how to invest it, you don't know how to 456 00:22:58,520 --> 00:23:03,399 Speaker 4: be wise giving people that type of money for the 457 00:23:03,440 --> 00:23:05,400 Speaker 4: first time ever in their life. Do you think they're 458 00:23:05,440 --> 00:23:07,960 Speaker 4: going to make the best decisions. So now we're talking 459 00:23:08,000 --> 00:23:12,520 Speaker 4: about we're coming from an angle of these conversations weren't 460 00:23:12,520 --> 00:23:14,720 Speaker 4: had at home because let's just keep it real, Mom 461 00:23:14,760 --> 00:23:18,600 Speaker 4: and dad didn't even manage money well. So now if 462 00:23:18,640 --> 00:23:22,360 Speaker 4: I'm talking to someone that maybe had that different financial 463 00:23:22,480 --> 00:23:25,720 Speaker 4: growing up training and background training, then they would be 464 00:23:25,760 --> 00:23:27,800 Speaker 4: wise when they get to college and send the refund 465 00:23:27,880 --> 00:23:30,520 Speaker 4: check back. So it's hard to say what should a 466 00:23:30,600 --> 00:23:33,479 Speaker 4: college do, but I want to put more emphasis on 467 00:23:33,560 --> 00:23:36,639 Speaker 4: what do parents need to be understanding and doing. The 468 00:23:36,720 --> 00:23:39,639 Speaker 4: college is a business. Yes, they have tools in place 469 00:23:39,680 --> 00:23:42,320 Speaker 4: and conversations and classes in place, but at the end 470 00:23:42,359 --> 00:23:44,320 Speaker 4: of the day, that's not their business to manage the 471 00:23:44,359 --> 00:23:47,040 Speaker 4: business of that person's finance. And also, we don't want 472 00:23:47,080 --> 00:23:50,040 Speaker 4: to even privatize it and really put too many restrictions 473 00:23:50,080 --> 00:23:53,359 Speaker 4: with sean because people do need that money sometimes to live. 474 00:23:53,680 --> 00:23:56,600 Speaker 4: Because yes, the cost of attendance, let's talk about it. 475 00:23:57,320 --> 00:24:01,160 Speaker 4: Community college could be really cute and thought, here's the problem. 476 00:24:01,760 --> 00:24:05,199 Speaker 4: Depending on your household. When you get eighteen or go 477 00:24:05,240 --> 00:24:08,879 Speaker 4: to college age, people expect you to leave. Where are 478 00:24:08,960 --> 00:24:12,520 Speaker 4: you living in the community college. I know this story 479 00:24:12,680 --> 00:24:15,119 Speaker 4: so many times over right, this happened to my friends. 480 00:24:15,119 --> 00:24:17,960 Speaker 4: I remember, or when we go to state college. Now 481 00:24:17,960 --> 00:24:19,240 Speaker 4: we got to talk about when we get to that 482 00:24:19,359 --> 00:24:23,040 Speaker 4: state college, what majors are most profitable. Maybe you don't 483 00:24:23,040 --> 00:24:26,480 Speaker 4: get a chance to study butterflies, because now when nobody's 484 00:24:26,520 --> 00:24:31,800 Speaker 4: talking to our students about profitable majors and what that 485 00:24:31,840 --> 00:24:34,400 Speaker 4: looks like. But now let's get to the core. The 486 00:24:34,560 --> 00:24:38,600 Speaker 4: education system they came from didn't prepare them for biology, 487 00:24:38,880 --> 00:24:42,919 Speaker 4: for nursing, or because they just probably passed through high school. 488 00:24:43,040 --> 00:24:45,320 Speaker 4: So then you find out your high school diploma is 489 00:24:45,320 --> 00:24:48,760 Speaker 4: an equivalent to your counterparts high school diploma. You're struggling 490 00:24:48,760 --> 00:24:49,360 Speaker 4: with classes. 491 00:24:50,040 --> 00:24:52,600 Speaker 2: Wow, I'll tell you something. I'm so glad I got 492 00:24:52,600 --> 00:24:55,879 Speaker 2: an opportunity to interview you, doctor Sonya Lewis. As we 493 00:24:56,000 --> 00:24:58,560 Speaker 2: close out this interview, what would you say is your 494 00:24:58,600 --> 00:24:59,640 Speaker 2: secret to success? 495 00:25:00,640 --> 00:25:00,840 Speaker 5: Well? 496 00:25:00,920 --> 00:25:02,920 Speaker 4: God, first, I'm telling you, God be showing up in 497 00:25:02,960 --> 00:25:05,760 Speaker 4: places that I haven't made it to yet. So sometimes 498 00:25:05,800 --> 00:25:08,520 Speaker 4: you know, my name is in a room that I 499 00:25:08,560 --> 00:25:10,560 Speaker 4: haven't made it to because He put it there first. 500 00:25:10,600 --> 00:25:12,760 Speaker 4: So that's number one. You gotta have good faith, especially 501 00:25:12,760 --> 00:25:15,720 Speaker 4: with entrepreneurship, because baby this is a roller coaster. You 502 00:25:15,760 --> 00:25:20,239 Speaker 4: could be what you know so and then you know 503 00:25:20,280 --> 00:25:23,119 Speaker 4: you have to have good discernment about people too. You 504 00:25:23,160 --> 00:25:25,880 Speaker 4: cannot be an entrepreneur, a good business owner, a good 505 00:25:25,920 --> 00:25:28,639 Speaker 4: leader if you don't have discernment about people. That's another 506 00:25:28,720 --> 00:25:30,840 Speaker 4: thing that has always kept me well in business. I'm like, 507 00:25:31,119 --> 00:25:33,080 Speaker 4: you're a little sketchy for me. Now I can't be 508 00:25:33,160 --> 00:25:36,800 Speaker 4: dealing with you. And then the third thing is I 509 00:25:36,880 --> 00:25:40,359 Speaker 4: really practice my craft. I believe in mentorship. I believe 510 00:25:40,400 --> 00:25:43,760 Speaker 4: in investing in myself. I believe in making relationships that 511 00:25:43,760 --> 00:25:45,760 Speaker 4: will take me further. I know I'm not a silo 512 00:25:45,960 --> 00:25:48,720 Speaker 4: because entrepreneurship can make you feel lonely. But you got 513 00:25:48,720 --> 00:25:51,240 Speaker 4: to get out your house, okay. You got to make 514 00:25:51,280 --> 00:25:54,000 Speaker 4: sure that you connect with other like minded people. So 515 00:25:54,040 --> 00:25:56,400 Speaker 4: I've been putting those principles first and I've been really, 516 00:25:56,400 --> 00:25:57,240 Speaker 4: really successful. 517 00:25:58,000 --> 00:26:00,280 Speaker 2: Well you've been fantastic, and thank you for at the 518 00:26:00,320 --> 00:26:03,800 Speaker 2: time talking to doctor Sonya Lewis Award winning business. It's 519 00:26:03,840 --> 00:26:06,680 Speaker 2: called the Student Loan Doctor. She's based out of Philadelphia, 520 00:26:06,760 --> 00:26:10,679 Speaker 2: but worldwide. You can reach her virtually because she is 521 00:26:10,840 --> 00:26:15,119 Speaker 2: handling virtual calls and also then Montum she's three times 522 00:26:15,200 --> 00:26:18,800 Speaker 2: less than her competitors, and guess what the competitors are 523 00:26:18,840 --> 00:26:22,280 Speaker 2: copying what she started, So always remember go to the 524 00:26:22,320 --> 00:26:27,080 Speaker 2: best who started it, and also have your welfare involved 525 00:26:27,080 --> 00:26:29,560 Speaker 2: because of the fact that she's keeping her rates at 526 00:26:29,560 --> 00:26:32,440 Speaker 2: a reasonable affordable rate based on the fact that she's 527 00:26:32,480 --> 00:26:35,359 Speaker 2: trying to help you continue your life again, Doctor Sonya Lewis, 528 00:26:35,440 --> 00:26:37,840 Speaker 2: thank you for coming on Money Making Conversation Masterclass. 529 00:26:38,000 --> 00:26:39,480 Speaker 4: Thank you so much for having me. 530 00:26:40,200 --> 00:26:41,760 Speaker 1: Oh it's awesome. I appreciate it. 531 00:26:41,960 --> 00:26:45,200 Speaker 2: This has been another edition of Money Making Conversation Masterclass 532 00:26:45,240 --> 00:26:48,399 Speaker 2: posted by me Rashaun McDonald. Thank you to our guess 533 00:26:48,400 --> 00:26:51,840 Speaker 2: on the show today and thank you listening to audience now. 534 00:26:51,840 --> 00:26:53,840 Speaker 2: If you want to listen to any episode I want 535 00:26:53,840 --> 00:26:57,720 Speaker 2: to be a guest on the show, visit Moneymakingconversations dot com. 536 00:26:57,840 --> 00:27:01,439 Speaker 2: Our social media handle is money Making Conversation. Join us 537 00:27:01,480 --> 00:27:04,040 Speaker 2: next week and remember to always leave with your gifts. 538 00:27:04,359 --> 00:27:04,960 Speaker 1: Keep winning. 539 00:27:05,720 --> 00:27:05,760 Speaker 3: M