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Speaker 1: Hey, hey, hey, it must be the eclipse because we've

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Speaker 1: got something special today.

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Speaker 2: It is a show.

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Speaker 3: That was my weak ass attempt at a trumpet. This

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Speaker 3: is a show you guys have been waiting for. We

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Speaker 3: have been promising you with I know you've been waiting

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Speaker 3: with baited breath and lots of stress for our.

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Speaker 2: Student loan episode.

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Speaker 3: We have been I've been collecting your questions for the

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Speaker 3: last what is it like, one or two months, because.

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Speaker 4: We've been promising and not delivering.

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Speaker 3: No, no, no, we hey, hey, we're on schedule. We said August.

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Speaker 3: We found our expert. We worked this out. Give us

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Speaker 3: some credit. The show is free, all right. So we

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Speaker 3: have your questions. We've combed through the reader, the listener mailbox.

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Speaker 3: We've come up with a ton of questions and we're

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Speaker 3: here today with our expert. We've promised she'd be on

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Speaker 3: the show, and she's finally here. Miss Angela Housey from.

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Speaker 2: Hattiesburg, Mississippi.

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Speaker 3: She is the founder and CEO of the Financial Literacy Institute,

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Speaker 3: which is a nonprofit organization. Angela started to help families before, during,

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Speaker 3: and after the college experience figure out how to pay

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Speaker 3: for it.

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Speaker 1: Angela welcome, Yes, I'm so excited, like she's my personal

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Speaker 1: secret weapon.

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Speaker 4: Like we've been working on my student loan debt and we're.

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Speaker 1: Almost at the finish line of like getting a significant

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Speaker 1: portion forgiven.

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Speaker 4: So Angela, I'm super excited that you're here. Thank you.

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Speaker 4: I'm super excited to be here. This is awesome, and

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Speaker 4: I'm super excited to answer the questions of your followers.

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Speaker 2: I want to jump right in. Can we yes?

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Speaker 3: Are y'all down with that? We've all got you know,

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Speaker 3: we're all company, We're ready to go.

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Speaker 2: Yes. All right.

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Speaker 3: So we've got a ton of questions, Angela, I know

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Speaker 3: you've seen these already, you're prepared. Let's start with a

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Speaker 3: question on I feel like a lot of people who

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Speaker 3: are struggling to make their payments on time. We got

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Speaker 3: several questions from people who are in that exact situation.

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Speaker 3: So I'll start with a question from Casey. Her question

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Speaker 3: is what can someone do if they're in a position

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Speaker 3: where they've defaulted on the rehabilitation program for debt for

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Speaker 3: their student loan debt.

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Speaker 4: If they defaulted on a student loan rehabilitation program, they

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Speaker 4: need to call the default or rehabilitation student loan program.

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Speaker 4: I have a number for them to calm because even

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Speaker 4: though you defaulted the first time, they will allow you

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Speaker 4: to try it again. But the second time you really

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Speaker 4: need to make the payments. If you've had any issues

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Speaker 4: with the payments, then you would have to speak with

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Speaker 4: the a busman at the Student Student Loans Dot GOM.

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Speaker 4: But I do have a phone number for you for

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Speaker 4: you to call is one eight hundred six two one

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Speaker 4: three one one five.

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Speaker 3: Let's buck up, though, Angela, can you talk about I

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Speaker 3: think some people may not know what this is even

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Speaker 3: talking about. So the rehabilitation program for student loan debt

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Speaker 3: for federal student loan debt. What is this program and

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Speaker 3: what should people know about it?

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Speaker 4: Well, this is a program for people who have student

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Speaker 4: loans and they couldn't make their student loan payments and

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Speaker 4: so they fail behind and then they wanted to default. Well,

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Speaker 4: default is a place where you do not want to

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Speaker 4: be because it affects your over day, your everyday life's

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Speaker 4: daily activities. Because they can godishure your wages, they can

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Speaker 4: take your your income tax return. So when when a

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Speaker 4: student's place in default, they are allowed to go into

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Speaker 4: the real libilitation program to whereas you can pay as

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Speaker 4: little as five dollars per month for ten months, and

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Speaker 4: once you do that, then they will put you back

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Speaker 4: in rotation and eligible to begin paying your regular student

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Speaker 4: loan payments. Rather it be fifty dollars, one hundred dollars

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Speaker 4: or or two hundred dollars. And if you defaulted again,

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Speaker 4: then they will allow you to come back into the

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Speaker 4: realiitation program one more time to get rehabilitated again. But

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Speaker 4: you must have a good reason why you defaulted. It

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Speaker 4: was because you got unemployed or emergency happens. You have

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Speaker 4: to have a good doctor excuse or something to that

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Speaker 4: effect to show why you defaulted, and then they will

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Speaker 4: let you really do take here.

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Speaker 1: So we're talking about this is for only federal loans,

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Speaker 1: not for private loans.

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Speaker 4: No private loans is just what it is. It's it's

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Speaker 4: a private loan.

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Speaker 3: Let's take a question from a listener, Anastasia. This is

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Speaker 3: another question about missing payments on your student loan debt,

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Speaker 3: but it's a little bit different. So Anaesasia says, when

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Speaker 3: I graduated from college in my undergrad I thought student

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Speaker 3: loan debt didn't matter, so I paid my loans when

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Speaker 3: I felt like it. Sometimes that would be once one

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Speaker 3: sometimes once every three to six months. Now, I'm why

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Speaker 3: is he going to understand that I need to pay

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Speaker 3: my loans on time? But I don't know the best

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Speaker 3: way to get caught up. What tips do you have

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Speaker 3: on making student loans current and what is the best

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Speaker 3: way to tackle my dad? Knowing that I'm several months behind.

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Speaker 4: The first thing I would do is look at my

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Speaker 4: loans and I will consolidate. I will consolidate my loans

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Speaker 4: so I can start open b on time. I would

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Speaker 4: be current. And the second thing that I would do

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Speaker 4: was put them on automation. That's one of the thing

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Speaker 4: that Tifney talks about, and deliverate your academy automation. And

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Speaker 4: when you put your loans on automation, they will actually

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Speaker 4: reduce your payment from zero point twenty five percent.

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Speaker 1: So I so if okay, So, say she has three

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Speaker 1: different loans, if she consolidates, it'll be like she's starting

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Speaker 1: over with a brand new loan that was never lead.

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Speaker 4: If she consolidate, if she's behind, she's going to go

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Speaker 4: on default. So she will have to consolidate anyway, So

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Speaker 4: she's all right, Because she cannot continue to be behind

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Speaker 4: not paid, They're going to come after her so she's

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Speaker 4: gonna have to consolidate to get her loans up up

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Speaker 4: to par because then you.

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Speaker 3: Just go ahead, Are you allowed to consolidate your federal

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Speaker 3: loans if you've missed payments? If she's three to six

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Speaker 3: months behind.

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Speaker 4: Yes, you can still consolidate, Okay.

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Speaker 1: And then so it showed. Okay, So she's gonna consolidate.

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Speaker 1: And what we'll it'll do is instead of having two

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Speaker 1: or three payments, she'll now have one. She'll now have

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Speaker 1: one payment. And then once she has one payment, since

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Speaker 1: she having a problem with paying them on time, she

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Speaker 1: should look at putting them in automation, and doing so

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Speaker 1: she would reduce her her financial aid debt because they

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Speaker 1: will dedug zero point twenty five percent off her student

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Speaker 1: loan because she's getting automated. Snorty hearty, all right, So

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Speaker 1: let's see. I feel like everybody's like in default. I'm like,

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Speaker 1: look at that souff. Okay, here's a good one. This

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Speaker 1: is a deferment question from Ken. She said, my husband

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Speaker 1: deferred his student loan debt last year in July, and

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Speaker 1: we need to defer again. Will it be approved? What

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Speaker 1: are option his student lean that is one hundred thousand dollars.

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Speaker 4: Absolutely, it would be approved. You have you have up

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Speaker 4: to three years for deferment. You can have deferment if

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Speaker 4: you just can't make the payment and they'll ask you

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Speaker 4: all you have in a hardship and then if you

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Speaker 4: say yes, then they'll give you a deferment that can

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Speaker 4: last for three years. You can have an unemployment deferment.

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Speaker 4: There are different types of differmance that you can have.

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Speaker 4: You can have a medical deferment, so yes, you can

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Speaker 4: have a deferment. If you only had one year, you

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Speaker 4: have two years left for deferment.

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Speaker 1: So here's something that you told me, angel and I

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Speaker 1: wish I would have known. So I was deferring when

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Speaker 1: I wasn't making any money. And you're like, oh, if

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Speaker 1: you would have known, you could have enrolled in the

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Speaker 1: income based repayment program, because then my payments would have

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Speaker 1: actually been zero dollars. Yep, that's true if you don't

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Speaker 1: have to differ if, just like with your case Tivity,

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Speaker 1: had you put your loans in the Public Service off

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Speaker 1: forgiveness program earlier, six years would have been already taken

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Speaker 1: care of. But you didn't know, so you kept deferring

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Speaker 1: your payment, which really cost you six years of pre payments. Yeah,

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Speaker 1: because even though with zero balance, it's still a payment.

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Speaker 2: Get that many Yeah, A lot of people don't know.

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Speaker 3: So we talked about Public Service loan forgiveness and we've

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Speaker 3: got a couple of questions under that program too. But

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Speaker 3: real quick, people don't know. This is the key here

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Speaker 3: is if you want to even be eligible for the

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Speaker 3: federal loan forgiveness options, you have to be enrolled in

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Speaker 3: one of the income driven repayment plans. And that doesn't

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Speaker 3: mean so if you defer or your loans are in forbearance,

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Speaker 3: those you're not enrolled in that program and you're not

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Speaker 3: going to be eligible for the loan forgiveness programs.

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Speaker 2: That's the key.

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Speaker 3: I think people don't understand. That's what that's what That's

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Speaker 3: what happened with you, Tiffany.

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Speaker 2: Right, M.

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Speaker 4: I didn't know that well once. I didn't know that.

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Speaker 1: I because when I had first tried to apply for

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Speaker 1: the forgiveness program, it had it was no longer like

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Speaker 1: it was earlier, and they were like, oh no, that

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Speaker 1: was under President Clinton.

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Speaker 4: You know this president has canceled that or whatever, and

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Speaker 4: I was like.

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Speaker 1: Oh man, And then when I couldn't afford I deferred

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Speaker 1: because I thought, well, that's what you do. I didn't

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Speaker 1: realize that because my income was next to nothing, they

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Speaker 1: could have actually set my payment in according to my income,

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Speaker 1: and my payment would have been zero dollars a month,

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Speaker 1: an actual payment of zero dollars, and then it could

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Speaker 1: have looked like, hey, Tiffany made you know, five years

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Speaker 1: of zero dollar payments when I was really struggling, and

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Speaker 1: that would have counted toward my forgiveness, which is ten years.

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Speaker 1: And I could have been like, I have because what

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Speaker 1: do I have, Angela?

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Speaker 4: Three years of them? Three years?

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Speaker 1: Yep, I could have had six instead of and forgiven

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Speaker 1: like sixty percent of my student.

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Speaker 4: Loan that versus just thirty percent. That's sure, you know,

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Speaker 4: I know. The more you know, the more you're pissed.

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Speaker 3: Well, why don't we jump into a question from a listener, Grace,

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Speaker 3: because she has a specific question about public service loan forgiveness,

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Speaker 3: which everyone is sort of about because there's a potential

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Speaker 3: with Trump's education budget that it may be going away

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Speaker 3: after twenty eighteen, so lots of questions on this. So

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Speaker 3: this is Grace's question. Grace says, I'm worried about the

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Speaker 3: security of this perfect service loan program. I have seven

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Speaker 3: to eight years left to make payments to be eligible.

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Speaker 3: I'm going to try and english fire her question. Basically,

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Speaker 3: if I were to qualify for loan forgiveness, I would

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Speaker 3: be forgiven about twelve thousand dollars of loans plus interest.

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Speaker 3: But if I were to refinance, I could save between

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Speaker 3: six to ten thousand dollars over the life of the

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Speaker 3: loan if I do it now. So I'm wondering if

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Speaker 3: it's in my best interest to stick out with the

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Speaker 3: Public Service Loan Forgiveness program and hope Congress doesn't pull it,

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Speaker 3: or just switch over now, refinance and get my savings

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Speaker 3: that way.

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Speaker 4: Okay, So I did speak with I did speak with

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Speaker 4: the senators here in the state of Mississipi and that

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Speaker 4: as long as you're in the program, you will not

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Speaker 4: be dismissed from the program. So if Trump were to

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Speaker 4: but we were told that he wasn't because it's just

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Speaker 4: talk and nothing has been a bill, nothing has been

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Speaker 4: to the Senate, nothing has made it to where it

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Speaker 4: needs to be to be canceled. So at this time,

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Speaker 4: if you are in the program, the Public Service Loan

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Speaker 4: Forgiveness program, they cannot kick you out the program as

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Speaker 4: long as you in there before the next period. I

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Speaker 4: can't foresee the future, but I can just I can

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Speaker 4: only share with you what was told to me that

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Speaker 4: the Public Service Loan Forgiveness program is still vital and

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Speaker 4: it will continue to be. So I'm telling my clients now,

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Speaker 4: if they want to get into the Public Service Loan

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Speaker 4: Forguinness program, now is the time to get in it.

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Speaker 4: And if you are in the Public Service Forgiveness program,

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Speaker 4: I will stay in it.

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Speaker 1: So just for you guys though, who don't realize, like Angela,

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Speaker 1: what I love about Angela is that she's not just

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Speaker 1: an expert, She's really committed.

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Speaker 4: Like you. You went what was it Congress? Where did

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Speaker 4: you you were? Just in? I went to Washington, d C.

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Speaker 4: I was in the chair with I was at a

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Speaker 4: meeting with Secretary of Commission Munching. We had a meeting

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Speaker 4: as it relates to the student loans and financial literacy.

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Speaker 5: I was.

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Speaker 4: I was there at the table with them gathering information

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Speaker 4: about the student loans, about what's going on in our

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Speaker 4: society as it relates to a lot of citizens, all

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Speaker 4: citizens actually, And this is what I was told that

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Speaker 4: the Public Service loans to Guinness program will continue at

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Speaker 4: this time, so whoever's in the program took a stay

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Speaker 4: in the program and if they still want to get

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Speaker 4: in the program, to go ahead to applying for the program.

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Speaker 4: So I do I travel to DC. I be in

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Speaker 4: the meetings. I meet with my my senators monthly to

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Speaker 4: acquire on information as it relates to financial literacy and

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Speaker 4: student loans.

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Speaker 3: I really identify with her question because it is it

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Speaker 3: is like you can't predict the future, and we have

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Speaker 3: a man baby for president now, so if like any whim,

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Speaker 3: he could try something. But you're right, and according to

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Speaker 3: his proposed budget, even if the loan forgiveness program is

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Speaker 3: done away with, anyone who's taken out loans before July first,

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Speaker 3: twenty eighteen will remain in the program July first, twenty eighteen,

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Speaker 3: so it won't affect people who are currently enrolled. And

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Speaker 3: the first step to get enrolled in first we said earlier,

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Speaker 3: just to recap, the first step to get enrolled in

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Speaker 3: public service loan forgiveness is to make sure that you're

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Speaker 3: actually enrolled in one of these income driven repayment plans.

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Speaker 3: That's step one, and then angela from there, how do

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Speaker 3: people get in, how do they take the next step

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Speaker 3: to get enrolled in the public service loan forgiveness program.

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Speaker 4: Well, they'll look at the aircom and see where they fall,

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Speaker 4: so they may want to go into the pay as

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Speaker 4: you earn and then when they go to the pay

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Speaker 4: as you earn income or they may want you have

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Speaker 4: to do four. Is it pay as you earn, a

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Speaker 4: revised pay as you earn? Or is the income based

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Speaker 4: repayment program? Are the income contingent program? And you decide

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Speaker 4: which program you want to be in. The pay as

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Speaker 4: you earn which is the one I recommend, It's just

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Speaker 4: they count ten percent of your income and that's how

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Speaker 4: they base your payments on. So you can do that

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Speaker 4: for the next ten years. If you want to do

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Speaker 4: the income based pay repayment program, that depends on when

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Speaker 4: you receive your loans and the debtor ratio, so that

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Speaker 4: can be up the weapon ten percent to fifteen percent.

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Speaker 4: But you can do the income contingent program as well,

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Speaker 4: but that's using twenty percent of your income. So the

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Speaker 4: best one out there if you're going to do your

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Speaker 4: public service loan forginness program is the revised pay as

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Speaker 4: you earn, but you look at your amount of money

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Speaker 4: that you make, and you look at how much that

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Speaker 4: you owe, and there is a chart. I don't know

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Speaker 4: when you can't see the chart, but there is a chart.

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Speaker 4: Maybe it's a link that we can put out for

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Speaker 4: the people to see and they can look at the chart,

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Speaker 4: Tiffany and Mandy, and that way they have something to

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Speaker 4: view to see which program that they think would be

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Speaker 4: best for them.

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Speaker 1: Okay, and where can that shart be found? On student

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Speaker 1: loan dot gov. The chart is on student loan dot gov.

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Speaker 1: And I also sent the PDUP for you guys to download.

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Speaker 1: I don't know if you can download it somewhere.

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Speaker 3: I think I've got the PDOF. I'll make sure it's

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Speaker 3: available when we post the podcast at Brown Ambition dot com.

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Speaker 2: Plug I know.

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Speaker 4: That means go there, guys.

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Speaker 3: So, Angela, you just described a few of the different

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Speaker 3: repayment programs. But then from there do you contact your

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Speaker 3: loan service or to make sure you have to make

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Speaker 3: sure that your employer is eligible for public service loan forgiveness? Right?

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Speaker 4: Well, yeah, well it's the government. You got to be

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Speaker 4: working for our government entity or non profit?

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Speaker 2: Right yea?

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Speaker 4: Or nonprofit?

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Speaker 1: Can you give us some examples of like of traditional

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Speaker 1: and non traditional ways that people qualify, Like like, okay,

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Speaker 1: we know I'm a teacher, that that qualifies. But what

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Speaker 1: are some ways that people typically and non typically qualify.

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Speaker 4: Well, if you're okay, so typically typically you'll qualify if

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Speaker 4: you work for the government, if you especially the Fed banks.

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Speaker 4: If you work for a federal bank, you qualify. They've

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Speaker 4: got to be a federal bank. If you are a teacher,

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Speaker 4: a doctor, the lawyers, the the nurses, the fire firemen,

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Speaker 4: you have people who you can work at a gas station.

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Speaker 4: Remember I told you that that's a non typical those

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Speaker 4: are the ones I want to hear about those.

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Speaker 1: So some of the non so a gas station attendant,

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Speaker 1: why would they qualify.

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Speaker 4: Well, not the gas station, to the I'm sorry, at

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Speaker 4: a liquor store, because it's like a federal entity because

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Speaker 4: they got the alcohol, like the distribution, and so that's

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Speaker 4: that qualifies you to work at the public search long

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Speaker 4: Forgiveness program. It does now, of course the nonprofit organizations

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Speaker 4: you can even if you were to go and help out,

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Speaker 4: you have to get paid for it. It does not

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Speaker 4: have to be a full payment, but you will have

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Speaker 4: to get paid for your time at least thirty hours

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Speaker 4: a week at a nonprofit organization to be considered for

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Speaker 4: the public service and all Forgedness program.

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Speaker 2: Okay, awesome.

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Speaker 3: I actually want to tackle part two of Grace's question

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Speaker 3: because I know a lot of people have this question too.

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Speaker 3: But if I refinance my student loan debt, this is

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Speaker 3: Grace's second question. If I refinance my student loan debt,

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Speaker 3: what's the difference between fixed rates or variable rates?

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Speaker 4: Well, of course the fixed rate is going to stay

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Speaker 4: the same, so if it's six point eight percent, that's

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Speaker 4: what your rate is. But your variable rates, they have

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Speaker 4: a chance to flexuate, so they will go up. They

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Speaker 4: can go up to seven point two percent or either

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Speaker 4: up to eight point nine percent, depending on who continue

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Speaker 4: to buy your loans. So you want to make sure

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Speaker 4: that when your loans are transferred you, when you refinance

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Speaker 4: your loans, that they have the right amount and you

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Speaker 4: know what your interest rate is because it will continue

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Speaker 4: to climb. So the fixed rate, which is is fixed

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Speaker 4: once you get it left to six point eight but

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Speaker 4: if you get into the Income's computer program, it'll go

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Speaker 4: up two percent every year. Like it, you'll see a

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Speaker 4: climb zero point two percent it'll go up. There's no

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Speaker 4: from four percent to twenty five percent of your gross

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Speaker 4: money income?

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Speaker 3: Is this? But what when you refinance your student loans

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Speaker 3: though you're you're getting a private loan though, right, well

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Speaker 3: those are federal.

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Speaker 4: Yeah, if that is a private loan, if you're going

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Speaker 4: to refinance them, Her question is she going to refinance

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Speaker 4: them with who?

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Speaker 2: She doesn't say. She doesn't say, I.

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Speaker 5: Wouldn't, Okay, I don't know if she refinanced them with

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Speaker 5: the bank, and you know that's there, whatever their protocol is,

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Speaker 5: whatever leg breaks she gets in and she getting a

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Speaker 5: variable one and who, Yes, her her loans is going

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Speaker 5: to escalate, But is she getting a fixed rate?

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Speaker 4: Then they have to stay at the same rate at

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Speaker 4: six point eight percent are five? I don't know. I

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Speaker 4: don't know what her credit score is, so I would

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Speaker 4: definitely will have will want to have a fixed rate

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Speaker 4: because I want to know what I'm paying out each night.

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Speaker 4: So if it's a private loan, they cannot compound her

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Speaker 4: interest at one for one percent every day.

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Speaker 2: Yeah.

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Speaker 3: I think with variable rates they tend to be like

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Speaker 3: lower on paper, and they try and tempt.

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Speaker 2: You with that lower rate.

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Speaker 3: But yeah, you have to you have to understand that

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Speaker 3: they contrack that rate up anytime, anytime they want to,

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Speaker 3: And it seems like rates are rising now, so it's

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Speaker 3: a little bit riskier than usual to go for that

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Speaker 3: variable rate.

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Speaker 4: That's true. So we actually have a question about grad school.

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Speaker 1: This is a question I hear a lot because I

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Speaker 1: went to grad school, much to my dismay, because I'm

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Speaker 1: still paying for it. She says, I'm interested in going

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Speaker 1: to graduate school. This is chanel to pursue a master's

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Speaker 1: degree in public health. She was fortunate to finish her

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Speaker 1: undergraduate degree with zero debt. That was me for the

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Speaker 1: most part. Now that I'm thinking about grad school, the

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Speaker 1: question of debt and how I will finance my education

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Speaker 1: is my biggest barrier to applying. Funding for a master's

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Speaker 1: degree is typically limited, loans are standard. What tips her

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Speaker 1: advice can you give on how to finance a graduate degree?

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Speaker 1: Most programs are two years, about thirteen thousand dollars per semester,

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Speaker 1: not including housing.

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Speaker 4: Wow, Okay, so that's great. If she's going to stay

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Speaker 4: on campus, because she said it's not including housing, she

402
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Speaker 4: can always use her GPA her asat score in the

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Speaker 4: SAT score. So I would first recommend the McGraw Hills book,

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Speaker 4: It's ACT and SAT book for her to study to

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Speaker 4: boost her scores up so she can get some free

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Speaker 4: scholarship money from that entity. And then of course my

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Speaker 4: favorite tip me as you know, is the assistantship program.

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Speaker 4: The assistantship program is located in her dean office. So

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Speaker 4: she stated that she is going into the Health Occupation department.

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Speaker 4: If her GPA is three point zero or higher, she

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Speaker 4: has the possibility of earning an assistantship scholarship. This scholar

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Speaker 4: ship will pay you eight hundred dollars to one thousand

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Speaker 4: dollars per month. It will pay for your semester in

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Speaker 4: your book, and you get to attend all of the

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Speaker 4: launch and learn events that the school may have. And

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Speaker 4: you would have to be an assistant to the professor

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Speaker 4: that those those programs are limited. So you really want

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Speaker 4: to go before the semester, next semester start, or the

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Speaker 4: very first week of the semester as it starts.

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Speaker 3: Okay, is that like being a taking Yes?

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Speaker 4: Okay, gotcha.

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Speaker 2: Yeah.

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Speaker 3: A lot of people don't know that with grad school

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Speaker 3: there are scholarships out there. But let's say, I mean,

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Speaker 3: what are the loan options for grad schools. I mean

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Speaker 3: you have Federal plus loans, right, that's like the federal

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Speaker 3: loan program. Are there any pros and cons to using

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Speaker 3: student loans for grad school?

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Speaker 4: Well? I wouldn't if I didn't have to. I mean

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Speaker 4: I really wouldn't because the Federal plus modane they're hired

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Speaker 4: interest rate and then it's cost you more to attend

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Speaker 4: on your master's program. If I could pay cash by

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Speaker 4: master program, I would it just needs staying unless my

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Speaker 4: job would reimburse me. And then it's combs me to act.

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Speaker 4: I knew where I were headed, and my employer would

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Speaker 4: say that they would reimburse me, then absolutely I'll do it,

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Speaker 4: but I will make sure that I'm prepared for my

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Speaker 4: master's program. And is it really worth going to school

439
00:22:30,640 --> 00:22:32,960
Speaker 4: to get the massive program? Would I would really look

440
00:22:33,000 --> 00:22:35,520
Speaker 4: at it to see the pros and con would be

441
00:22:36,000 --> 00:22:38,840
Speaker 4: by me getting my master program? Would that really elevate

442
00:22:39,600 --> 00:22:42,480
Speaker 4: my monetary packages? Or would it just make me stand

443
00:22:42,520 --> 00:22:45,199
Speaker 4: out because I have a master? What would I achieve

444
00:22:45,280 --> 00:22:48,479
Speaker 4: by getting my masters? Because oftentime I rent to students

445
00:22:48,480 --> 00:22:52,359
Speaker 4: who receive their master's program and still making minimal wage.

446
00:22:52,480 --> 00:22:54,520
Speaker 4: I mean they're making twelve and fifteen dollars. I mean,

447
00:22:54,600 --> 00:22:57,359
Speaker 4: like it wasn't worth it. So if you're going to

448
00:22:57,400 --> 00:23:00,760
Speaker 4: get your master's program, would it really benefit you or

449
00:23:00,800 --> 00:23:03,399
Speaker 4: I mean, I mean, I don't know. It depends on

450
00:23:03,560 --> 00:23:05,920
Speaker 4: it depends on the on the person. I suppose.

451
00:23:07,320 --> 00:23:09,000
Speaker 3: Yeah, I mean there's a lot of good research out

452
00:23:09,040 --> 00:23:11,919
Speaker 3: there on on what the average salaries are depending on

453
00:23:11,920 --> 00:23:14,360
Speaker 3: like the field that you're entering. So I think that's

454
00:23:14,400 --> 00:23:16,000
Speaker 3: something that I mean, I didn't do that when I

455
00:23:16,040 --> 00:23:18,600
Speaker 3: went to college, but I feel like people are so

456
00:23:18,680 --> 00:23:20,520
Speaker 3: much more aware now of the cost of school. And

457
00:23:20,560 --> 00:23:26,080
Speaker 3: if you're not taking your your salary, your your expected salary,

458
00:23:26,119 --> 00:23:29,679
Speaker 3: into your compensation, into consideration before taking out loans, it's like,

459
00:23:30,440 --> 00:23:31,320
Speaker 3: what are you doing?

460
00:23:31,920 --> 00:23:34,200
Speaker 1: Yeah, I know you're like, oh, I think I want

461
00:23:34,200 --> 00:23:37,320
Speaker 1: to be a you know, like a Spanish teacher. And

462
00:23:37,359 --> 00:23:40,359
Speaker 1: then like, I remember my Spanish teacher went to Princeton

463
00:23:40,560 --> 00:23:45,680
Speaker 1: with loans and when she got once she got out,

464
00:23:46,000 --> 00:23:49,600
Speaker 1: she was like, that was not the smartest school because

465
00:23:49,680 --> 00:23:52,280
Speaker 1: here you go to this amazing Ivy League school. I'm

466
00:23:52,320 --> 00:23:53,760
Speaker 1: not to say being obviously I was a teacher, so

467
00:23:53,800 --> 00:23:56,199
Speaker 1: I'm definitely not you know, dogging teachers, but what I

468
00:23:56,240 --> 00:23:58,280
Speaker 1: am saying is that there was no way that she

469
00:23:58,440 --> 00:24:00,840
Speaker 1: was going to be able to make really enough to

470
00:24:00,920 --> 00:24:04,080
Speaker 1: make those loans make sense, you know, And she was

471
00:24:04,160 --> 00:24:05,960
Speaker 1: just like her parents track guitar, but she didn't listen.

472
00:24:06,040 --> 00:24:08,800
Speaker 3: I was like, oh yeah, I mean, if I wasn't

473
00:24:08,800 --> 00:24:11,040
Speaker 3: good at math, I'd be in a creative writing master's

474
00:24:11,080 --> 00:24:14,320
Speaker 3: program right now, Like the math is the math is

475
00:24:14,359 --> 00:24:15,000
Speaker 3: holding me back.

476
00:24:15,040 --> 00:24:16,080
Speaker 2: The math is holding me back.

477
00:24:16,920 --> 00:24:19,560
Speaker 3: So let's answer this question from listener Jamilla, who has

478
00:24:19,600 --> 00:24:23,680
Speaker 3: an interesting question about student debt. Jamilla says, I owe

479
00:24:23,720 --> 00:24:27,000
Speaker 3: a student debt, but it's not a student loan. It's

480
00:24:27,040 --> 00:24:30,639
Speaker 3: an amount left over from what tuition didn't pay. I

481
00:24:30,720 --> 00:24:33,520
Speaker 3: was not notified about this debt and now it's in collections.

482
00:24:33,680 --> 00:24:36,480
Speaker 3: Collection says that I can't settle the debt and pay

483
00:24:36,520 --> 00:24:38,480
Speaker 3: the whole debt before and I have to pay the

484
00:24:38,520 --> 00:24:40,440
Speaker 3: whole debt before I can return to school. Is there

485
00:24:40,440 --> 00:24:43,160
Speaker 3: a way around this? What is happening here?

486
00:24:44,080 --> 00:24:46,800
Speaker 4: Okay, so that's not a student loan debt. That is

487
00:24:46,800 --> 00:24:49,800
Speaker 4: something that's something she got charged from the school. You know.

488
00:24:49,880 --> 00:24:53,399
Speaker 4: It could have been it could have been dorm fees,

489
00:24:53,520 --> 00:24:58,040
Speaker 4: it could have been something that because like my daughter

490
00:24:58,080 --> 00:25:01,240
Speaker 4: case in point. Her room was clean when she left,

491
00:25:01,240 --> 00:25:03,639
Speaker 4: but she left another young lady in the in the

492
00:25:03,640 --> 00:25:05,840
Speaker 4: dorm room and the girl messed a room up. Well,

493
00:25:05,920 --> 00:25:08,560
Speaker 4: they charged her one hundred dollars for the dorm fees.

494
00:25:08,920 --> 00:25:11,560
Speaker 4: But see, she had to pay that in order to

495
00:25:11,560 --> 00:25:13,560
Speaker 4: go back to school for the last semester. So that

496
00:25:13,640 --> 00:25:15,439
Speaker 4: could have been some dorm fees. That could have been

497
00:25:15,440 --> 00:25:18,000
Speaker 4: some school fees that she had with the school. But

498
00:25:18,040 --> 00:25:20,480
Speaker 4: that is not a student loan debt. That's what she's saying.

499
00:25:20,680 --> 00:25:23,600
Speaker 4: There's not a student loan debt. And because the school

500
00:25:23,640 --> 00:25:26,800
Speaker 4: put a hold on her account, she cannot attend any

501
00:25:26,800 --> 00:25:29,520
Speaker 4: other school at this time. So the answer to her

502
00:25:29,600 --> 00:25:35,000
Speaker 4: question is yes, she must pay that amount to the school.

503
00:25:35,400 --> 00:25:38,119
Speaker 4: I will follow her. I will go to the provost office,

504
00:25:39,000 --> 00:25:42,480
Speaker 4: speak with them and let them know that for whatever

505
00:25:42,480 --> 00:25:45,400
Speaker 4: the circumstances was that she didn't know she had this bill,

506
00:25:45,480 --> 00:25:47,399
Speaker 4: there's anything that they can do so she can finish

507
00:25:47,400 --> 00:25:50,160
Speaker 4: her education. And she will go and communicate with them.

508
00:25:50,840 --> 00:25:53,000
Speaker 4: They may be a little lenient on her, but she

509
00:25:53,040 --> 00:25:55,639
Speaker 4: would have to go and make the effort. So I

510
00:25:55,680 --> 00:25:57,240
Speaker 4: will go to the provost office.

511
00:25:57,359 --> 00:25:59,560
Speaker 3: And she's probably so confused she thinks it's a student

512
00:25:59,600 --> 00:26:02,560
Speaker 3: loan bill. Yeah, but it's something from her school.

513
00:26:03,080 --> 00:26:05,360
Speaker 4: Yeah, it's from her school. That's not a student loan debt.

514
00:26:05,720 --> 00:26:10,600
Speaker 2: All right, Okay, all right, I'm not right.

515
00:26:10,640 --> 00:26:12,000
Speaker 4: I'm learning and I'm learning. Angela.

516
00:26:12,040 --> 00:26:15,159
Speaker 1: You knock at these questions now, I'm like, Mayweather is

517
00:26:15,160 --> 00:26:16,720
Speaker 1: the money is the money team?

518
00:26:16,840 --> 00:26:18,200
Speaker 4: Right? Mayweather has the money team.

519
00:26:18,240 --> 00:26:22,320
Speaker 1: I'm like, yeah, this is the Mayweather money team.

520
00:26:22,680 --> 00:26:23,080
Speaker 4: All right.

521
00:26:23,119 --> 00:26:27,000
Speaker 1: So this question is from Dominique. Hey, dom all right,

522
00:26:27,000 --> 00:26:29,200
Speaker 1: hope all as well. Love the podcast We Love You Back,

523
00:26:30,200 --> 00:26:33,440
Speaker 1: it has it has become instrumental in keeping me focused

524
00:26:33,440 --> 00:26:34,320
Speaker 1: on financial freedom.

525
00:26:34,359 --> 00:26:37,040
Speaker 4: Awesome. My question is about student loan debt. Of course

526
00:26:37,080 --> 00:26:37,320
Speaker 4: it is.

527
00:26:37,800 --> 00:26:41,120
Speaker 1: She is almost five years out of law school, and

528
00:26:41,240 --> 00:26:44,720
Speaker 1: like many Newish lawyers, she has a mortgage on her brain,

529
00:26:44,880 --> 00:26:47,840
Speaker 1: totally two hundred thousand dollars, so that's what she owes.

530
00:26:48,119 --> 00:26:50,280
Speaker 1: She's worked for the government for the last four and

531
00:26:50,320 --> 00:26:54,560
Speaker 1: a half years. My position qualifies me for public interest

532
00:26:54,640 --> 00:26:58,240
Speaker 1: loan forgiveness for the Public Interest Loan Forgiveness program, which

533
00:26:58,280 --> 00:27:01,800
Speaker 1: requires a total of ten years in publicae service. So

534
00:27:01,840 --> 00:27:05,000
Speaker 1: I'm halfway there. My time position with my current employer

535
00:27:05,119 --> 00:27:07,679
Speaker 1: is ending, and I'm trying to figure out whether I

536
00:27:07,720 --> 00:27:10,480
Speaker 1: should stay in government to get my loans forgiven or

537
00:27:10,520 --> 00:27:12,960
Speaker 1: work for a big firm and make a salary that

538
00:27:12,960 --> 00:27:15,040
Speaker 1: will allow me to pay back my loans back in

539
00:27:15,080 --> 00:27:16,400
Speaker 1: approximately eight years.

540
00:27:16,600 --> 00:27:17,679
Speaker 4: While it may seem.

541
00:27:17,440 --> 00:27:19,719
Speaker 1: Like an obvious decision to stay in government to get

542
00:27:19,760 --> 00:27:22,879
Speaker 1: my loans forgiven, I ultimately want to work in private

543
00:27:22,920 --> 00:27:26,800
Speaker 1: practice and the transition to private practice after ten years in.

544
00:27:26,840 --> 00:27:30,320
Speaker 4: Government can be extremely difficult, but not impossible.

545
00:27:30,960 --> 00:27:35,880
Speaker 1: So what's kind of like, you know, what do you think, Angela?

546
00:27:36,000 --> 00:27:39,600
Speaker 4: I really think she would need direct to really weigh

547
00:27:39,640 --> 00:27:42,240
Speaker 4: that because she wants to go into the She really

548
00:27:42,240 --> 00:27:44,359
Speaker 4: wants to get out there and start to work. So

549
00:27:44,440 --> 00:27:46,480
Speaker 4: I see what she's saying, But did she I need

550
00:27:46,520 --> 00:27:49,480
Speaker 4: her to look at It's a link that I left

551
00:27:49,480 --> 00:27:51,960
Speaker 4: for you guys. It's called it LRA and is for lawyers.

552
00:27:51,960 --> 00:27:55,440
Speaker 4: It's like a lawyer's repayment program. And usually what they

553
00:27:55,480 --> 00:27:58,840
Speaker 4: do they will pay for the student loans for the

554
00:27:58,960 --> 00:28:01,920
Speaker 4: lawyer if they work for the next two to three

555
00:28:02,000 --> 00:28:04,760
Speaker 4: years in a rural area. So if they were work

556
00:28:04,800 --> 00:28:06,919
Speaker 4: in a rural area, their loans would be forgiven, just

557
00:28:06,920 --> 00:28:08,680
Speaker 4: like the teachers not want be forgiven. If you're working

558
00:28:08,720 --> 00:28:11,280
Speaker 4: in the rural area. Well, this is true for lawyers

559
00:28:11,280 --> 00:28:11,680
Speaker 4: as well.

560
00:28:12,359 --> 00:28:15,280
Speaker 3: Yeah, and doctors, right, there's a lot of doctors, teachers, lawyers,

561
00:28:15,280 --> 00:28:17,560
Speaker 3: those are that's the trifecta, right, yep.

562
00:28:18,480 --> 00:28:21,679
Speaker 4: So just two to three years, not the ten years typically, No,

563
00:28:22,040 --> 00:28:23,919
Speaker 4: just two three years. But she had to work in

564
00:28:23,960 --> 00:28:27,840
Speaker 4: a rural area, and oftentimes, you know a lot of

565
00:28:27,840 --> 00:28:29,520
Speaker 4: people don't want to work in a rural area. They

566
00:28:29,560 --> 00:28:32,520
Speaker 4: want to work in a prominent area, you know, it's prestigious.

567
00:28:33,600 --> 00:28:35,600
Speaker 4: But if they were to work in a rural area,

568
00:28:36,160 --> 00:28:39,960
Speaker 4: then their loans can pretty much be forgiven. It's a

569
00:28:40,000 --> 00:28:42,479
Speaker 4: sacrifice that you're willing to make, so that that's your

570
00:28:42,520 --> 00:28:46,760
Speaker 4: pretty much is your best outcome. So that's one avenue. Now,

571
00:28:46,800 --> 00:28:49,000
Speaker 4: as far as a public service long forgiveness program, she

572
00:28:49,080 --> 00:28:51,720
Speaker 4: only got five years left. I'm probably would tough it

573
00:28:51,720 --> 00:28:54,880
Speaker 4: out because their loans probably are way over two hundred thousand.

574
00:28:54,920 --> 00:28:55,400
Speaker 4: I'm sure.

575
00:28:55,920 --> 00:28:58,479
Speaker 3: As she said, I think, uh, I mean this is

576
00:28:58,560 --> 00:29:01,720
Speaker 3: this is partially a career question too, right It should

577
00:29:01,760 --> 00:29:04,360
Speaker 3: I sit here with the promise of getting financial aid

578
00:29:04,440 --> 00:29:06,040
Speaker 3: or should I take a chance? And I almost want

579
00:29:06,080 --> 00:29:08,880
Speaker 3: to say, why aren't you just stay out there job

580
00:29:08,960 --> 00:29:11,360
Speaker 3: hunting looking to see what comes along, maybe you'll get

581
00:29:11,600 --> 00:29:14,560
Speaker 3: a position at a law firm that could potentially pay

582
00:29:14,600 --> 00:29:16,640
Speaker 3: you enough to where you could smack out these loans

583
00:29:16,640 --> 00:29:19,280
Speaker 3: and no time. It's not unheard of for lawyers who

584
00:29:19,360 --> 00:29:22,320
Speaker 3: go in the private sector to have six figure debt

585
00:29:22,360 --> 00:29:24,880
Speaker 3: and then you know, their first couple bonuses like pay

586
00:29:24,920 --> 00:29:28,520
Speaker 3: it down. I think it's smart to at least be

587
00:29:28,600 --> 00:29:30,560
Speaker 3: looking and see what else is out there. And honestly,

588
00:29:31,120 --> 00:29:33,280
Speaker 3: public service loan forgiveness, if you think about it, it

589
00:29:33,320 --> 00:29:36,080
Speaker 3: was really created to incentivize people to work in the

590
00:29:36,080 --> 00:29:38,280
Speaker 3: public sector. People who have a lot of debt. They

591
00:29:38,280 --> 00:29:40,600
Speaker 3: don't want to lose the talent to the private sector

592
00:29:40,720 --> 00:29:43,040
Speaker 3: just because of debt. So if you don't want, like

593
00:29:43,080 --> 00:29:44,560
Speaker 3: if it's not in your heart to work in the

594
00:29:44,600 --> 00:29:47,760
Speaker 3: public sector, then you don't have to. Like just the

595
00:29:47,800 --> 00:29:49,520
Speaker 3: thing is, you have a lot better chance than the

596
00:29:49,520 --> 00:29:52,520
Speaker 3: private sector paying it off. But this program exists if

597
00:29:52,520 --> 00:29:54,280
Speaker 3: you want to work in the public sector and not

598
00:29:54,360 --> 00:29:56,680
Speaker 3: have to have this, like, you know, this debt hanging

599
00:29:56,920 --> 00:29:58,840
Speaker 3: over you and.

600
00:29:58,800 --> 00:30:01,600
Speaker 1: Can't she like because with me, Angela, like, you know,

601
00:30:01,680 --> 00:30:04,400
Speaker 1: I didn't have my full ten years, but you're working

602
00:30:04,440 --> 00:30:06,880
Speaker 1: on getting me reduced based upon what I did do

603
00:30:07,160 --> 00:30:08,720
Speaker 1: isn't that Is that available to her as well?

604
00:30:09,240 --> 00:30:12,520
Speaker 4: It is. It's a very to every student. So yes, yes,

605
00:30:12,560 --> 00:30:16,360
Speaker 4: it is so if she had five years in already,

606
00:30:16,680 --> 00:30:18,960
Speaker 4: but she's only in a public service loan forgiveness program.

607
00:30:19,000 --> 00:30:21,320
Speaker 4: Here's the thing with that. If you're in the public

608
00:30:21,320 --> 00:30:24,320
Speaker 4: service loan forgiveness program, you must complete the whole ten years.

609
00:30:24,920 --> 00:30:27,240
Speaker 4: Because you're five years, they don't cut your loan off.

610
00:30:28,320 --> 00:30:30,640
Speaker 4: And one of the benefits about that is that usually

611
00:30:30,720 --> 00:30:33,600
Speaker 4: the years to repay your loans is twenty five years.

612
00:30:33,640 --> 00:30:36,760
Speaker 4: So if you were in the public service loan forgiveness program,

613
00:30:37,120 --> 00:30:39,240
Speaker 4: you pay the ten years and the fifteen years would

614
00:30:39,280 --> 00:30:42,080
Speaker 4: be forgiven. That's why it's a smart move to stay

615
00:30:42,080 --> 00:30:44,520
Speaker 4: in there, especially if you already have five years in.

616
00:30:45,880 --> 00:30:49,760
Speaker 4: I would stay if it was me, unless unless you

617
00:30:49,920 --> 00:30:52,880
Speaker 4: find you a job that is willing to maybe pay

618
00:30:52,880 --> 00:30:55,120
Speaker 4: off your loans, because that's very possible if they really

619
00:30:55,120 --> 00:30:57,320
Speaker 4: want you that bad, you know they'll pay them off

620
00:30:57,360 --> 00:31:00,200
Speaker 4: for you. Or I would definitely contact l A r

621
00:31:01,040 --> 00:31:03,280
Speaker 4: and and see what they can do as far as

622
00:31:03,360 --> 00:31:06,680
Speaker 4: reducing my lungs. But yes, Tiffany, that's it. So what

623
00:31:06,680 --> 00:31:09,640
Speaker 4: what's that? What's the l R A website? Again. It's

624
00:31:09,680 --> 00:31:12,680
Speaker 4: a link. It's called l are they s It is

625
00:31:12,720 --> 00:31:16,680
Speaker 4: for lawyers, And I think Miss Mandy is going to

626
00:31:16,760 --> 00:31:18,920
Speaker 4: drop it in her in the.

627
00:31:18,840 --> 00:31:19,480
Speaker 3: Drop it in there.

628
00:31:20,200 --> 00:31:21,960
Speaker 1: Actually, I love that she calls you miss Mandy. I'm

629
00:31:22,000 --> 00:31:23,760
Speaker 1: like me, well, Mandy is like five years old.

630
00:31:26,800 --> 00:31:28,280
Speaker 2: I am in the thirty thirty club.

631
00:31:28,840 --> 00:31:32,040
Speaker 4: You guys are so something. Miss Mandy's gonna I'm like Mandy,

632
00:31:32,200 --> 00:31:33,000
Speaker 4: like now you're eighty.

633
00:31:33,760 --> 00:31:34,440
Speaker 1: I love it.

634
00:31:34,520 --> 00:31:35,080
Speaker 2: I love us.

635
00:31:35,120 --> 00:31:37,160
Speaker 3: I love being called miss Mandy. I think it's nice.

636
00:31:37,240 --> 00:31:38,920
Speaker 3: Thank you, miss miss Angela.

637
00:31:40,560 --> 00:31:43,000
Speaker 2: Tiffany, I don't.

638
00:31:42,800 --> 00:31:45,640
Speaker 1: Get none of that, man, do you you you up

639
00:31:45,680 --> 00:31:47,360
Speaker 1: North ladies, we don't get none of That's like I

640
00:31:47,400 --> 00:31:49,480
Speaker 1: just get the first name, like you aw there?

641
00:31:52,840 --> 00:31:55,920
Speaker 4: Oh okay, do you want to do what Mandy? How

642
00:31:55,920 --> 00:31:56,960
Speaker 4: many you want to do? Just sweat?

643
00:31:57,040 --> 00:31:59,320
Speaker 3: Let's do another one. I think I think we're on

644
00:31:59,320 --> 00:32:01,480
Speaker 3: a roll. But before we move on to the next question,

645
00:32:01,560 --> 00:32:04,560
Speaker 3: let's settle this mystery. Because Tiffany has told us all

646
00:32:04,600 --> 00:32:06,760
Speaker 3: about how Angela you were able to help her get

647
00:32:06,760 --> 00:32:11,240
Speaker 3: her loan forgiven. I have a theory that because Tiffany,

648
00:32:11,280 --> 00:32:14,120
Speaker 3: you didn't complete your full ten years of qualifying payments

649
00:32:14,200 --> 00:32:16,080
Speaker 3: underneath the public service loan forgiveness.

650
00:32:16,120 --> 00:32:18,760
Speaker 1: Right, yeah, so this is what happened. I was a

651
00:32:18,800 --> 00:32:21,440
Speaker 1: teacher for a number of years.

652
00:32:21,640 --> 00:32:22,440
Speaker 4: But while I was.

653
00:32:22,400 --> 00:32:24,480
Speaker 1: A teacher, I did not make payment. I did not

654
00:32:24,560 --> 00:32:27,200
Speaker 1: enroll in anything. But I also did not make ten

655
00:32:27,280 --> 00:32:29,160
Speaker 1: years worth of payments. I paid what how many three years?

656
00:32:29,200 --> 00:32:32,760
Speaker 4: Angela? Yes? And then I met Angela. I was like what.

657
00:32:33,000 --> 00:32:34,960
Speaker 1: She was like, ah, man, you shouldn't have deferred. You

658
00:32:35,000 --> 00:32:38,480
Speaker 1: should have entered into income base for payment because from

659
00:32:38,520 --> 00:32:41,840
Speaker 1: age twenty nine, so like three years ago, I was

660
00:32:41,840 --> 00:32:44,120
Speaker 1: broke because I was starting the budget nista and I

661
00:32:44,160 --> 00:32:45,920
Speaker 1: didn't have any money. She was like, you could have had,

662
00:32:46,200 --> 00:32:48,200
Speaker 1: you know, a payment of ten dollars to even zero

663
00:32:48,240 --> 00:32:51,160
Speaker 1: dollars a month and that would have counted toward your

664
00:32:51,240 --> 00:32:53,840
Speaker 1: time in And I was like, ah, man, so it's

665
00:32:53,880 --> 00:32:57,280
Speaker 1: not that my whole student loan that is being forgiven.

666
00:32:57,320 --> 00:32:59,440
Speaker 1: What we're and we're still working on it. Because my

667
00:32:59,480 --> 00:33:02,200
Speaker 1: school was so small, the government had no record of it.

668
00:33:02,280 --> 00:33:05,880
Speaker 1: So I had to get like my the old director

669
00:33:06,240 --> 00:33:08,560
Speaker 1: to like do a letter to say, yes, the school existed,

670
00:33:08,640 --> 00:33:12,040
Speaker 1: here's the here's the the EI in number, so that

671
00:33:12,120 --> 00:33:14,120
Speaker 1: will be read. So I owe fifty thousand and how

672
00:33:14,160 --> 00:33:16,760
Speaker 1: much WI will erase antel about about about eighteen to

673
00:33:16,800 --> 00:33:20,840
Speaker 1: twenty thousand. That's correct, and so that's what we're that's

674
00:33:20,880 --> 00:33:23,120
Speaker 1: what it's it's leading toward now and then I'll still

675
00:33:23,120 --> 00:33:26,560
Speaker 1: owe thirty but hey, twenty thousand dollars erase. So had

676
00:33:26,680 --> 00:33:29,680
Speaker 1: I done income based for paying it, I would have

677
00:33:29,760 --> 00:33:30,600
Speaker 1: had how many years?

678
00:33:30,680 --> 00:33:32,600
Speaker 4: Six years? You would have six years?

679
00:33:32,640 --> 00:33:34,880
Speaker 1: Yeah, yeah, So then I probably would have owed maybe

680
00:33:34,920 --> 00:33:38,320
Speaker 1: like what ten thousand, that's it, yep, and so but

681
00:33:38,400 --> 00:33:38,840
Speaker 1: I didn't.

682
00:33:39,000 --> 00:33:39,880
Speaker 4: So here we are.

683
00:33:39,800 --> 00:33:42,720
Speaker 2: So so but how was that? How are you eligible?

684
00:33:42,800 --> 00:33:43,280
Speaker 2: Is it through?

685
00:33:43,480 --> 00:33:46,080
Speaker 3: Is it through the Federal Teacher Loan Forgiveness program like

686
00:33:46,080 --> 00:33:49,600
Speaker 3: the separate Like the Federal Teacher Loan Forgiveness Program, you

687
00:33:49,640 --> 00:33:51,360
Speaker 3: work five years as a teacher at a Title I

688
00:33:51,480 --> 00:33:52,600
Speaker 3: school and then you're eligible.

689
00:33:52,600 --> 00:33:54,720
Speaker 2: I'm just wondering what that.

690
00:33:55,720 --> 00:33:57,760
Speaker 4: See that one is on you only get seventeen thousand,

691
00:33:57,840 --> 00:34:00,239
Speaker 4: five hundred dollars. But if you're the Published I it's

692
00:34:00,280 --> 00:34:02,560
Speaker 4: long forgiveness program. I'm like, Kiffy, and you'll get the

693
00:34:02,560 --> 00:34:06,360
Speaker 4: whole ten years and then another fifteen years forgiven. So

694
00:34:06,800 --> 00:34:08,960
Speaker 4: the one that's what we're doing with Tiffany now, because

695
00:34:09,000 --> 00:34:11,080
Speaker 4: she's we don't just be going this route. We go

696
00:34:11,120 --> 00:34:13,839
Speaker 4: on the seventeen thousand, five hundred dollars round.

697
00:34:14,120 --> 00:34:14,359
Speaker 2: See.

698
00:34:14,400 --> 00:34:17,400
Speaker 3: Okay, so that's the key, Tiffany, You're doing the Federal

699
00:34:17,440 --> 00:34:18,920
Speaker 3: Teacher Loan Forgiveness program.

700
00:34:19,840 --> 00:34:20,120
Speaker 4: I get.

701
00:34:20,200 --> 00:34:24,600
Speaker 1: I don't know, girl, mistery salt, mistery salt, because right

702
00:34:24,640 --> 00:34:25,320
Speaker 1: you know me, I'm.

703
00:34:25,200 --> 00:34:27,240
Speaker 4: Like, Angel's like, build this out and listen.

704
00:34:27,280 --> 00:34:29,399
Speaker 2: And I'm like, okay, you like chucks to check.

705
00:34:29,440 --> 00:34:32,279
Speaker 3: Don't ask any questions but for our listeners, because I

706
00:34:32,280 --> 00:34:33,279
Speaker 3: have been trying.

707
00:34:33,000 --> 00:34:34,640
Speaker 2: To get to the bottom of this, and I'm excited

708
00:34:34,680 --> 00:34:39,000
Speaker 2: because why because we have a go ahead.

709
00:34:39,320 --> 00:34:42,160
Speaker 3: I was gonna say, we created a guide to getting

710
00:34:42,160 --> 00:34:44,879
Speaker 3: her student loan debt forgiven for teachers that magnify money.

711
00:34:44,920 --> 00:34:47,839
Speaker 3: And as I was editing this guide, I'm like sitting here, like, is.

712
00:34:47,800 --> 00:34:48,520
Speaker 2: This what she did?

713
00:34:48,560 --> 00:34:51,640
Speaker 3: Because you can get seventeen thousand, five hundred forgiven for

714
00:34:51,840 --> 00:34:54,279
Speaker 3: under the Federal Teacher Loan Forgiveness program, which has been

715
00:34:54,320 --> 00:34:57,080
Speaker 3: around for since nineteen ninety eight or something like that.

716
00:34:57,680 --> 00:35:01,359
Speaker 4: Got it, Yes, And then on top of that, what

717
00:35:01,440 --> 00:35:03,719
Speaker 4: we're doing because once we get the loans and her

718
00:35:03,840 --> 00:35:06,239
Speaker 4: balance on her loans, when we get the balance, when

719
00:35:06,280 --> 00:35:09,080
Speaker 4: they pay the seventeen thousand, five hundred, then I'm going

720
00:35:09,160 --> 00:35:11,040
Speaker 4: to go in and then I'm going to get her

721
00:35:11,080 --> 00:35:13,600
Speaker 4: remaining balance reduced from ten to fifteen percent.

722
00:35:16,000 --> 00:35:18,680
Speaker 1: So that's what yeah told me. If I'm willing to pay, right,

723
00:35:18,760 --> 00:35:21,719
Speaker 1: if I pay in full, right, yep. So I know

724
00:35:21,719 --> 00:35:24,440
Speaker 1: most people can't just like pay, you know, twenty five

725
00:35:24,480 --> 00:35:26,960
Speaker 1: thousand dollars full, But I'm a saver. I save all

726
00:35:26,960 --> 00:35:29,640
Speaker 1: my little coins, and so I'm willing to do that

727
00:35:29,680 --> 00:35:30,319
Speaker 1: in order to save.

728
00:35:30,360 --> 00:35:31,279
Speaker 4: Because how much is that?

729
00:35:31,360 --> 00:35:34,600
Speaker 1: What is like ten percent of thirty an additional three

730
00:35:34,600 --> 00:35:38,719
Speaker 1: thousand audition? Yes, yeah, so I'll be able to and

731
00:35:38,760 --> 00:35:40,880
Speaker 1: then I'll be completely debt free because I don't have

732
00:35:40,920 --> 00:35:43,279
Speaker 1: any more credit card debt, I don't have any car

733
00:35:43,360 --> 00:35:45,880
Speaker 1: loan that, I don't have any debt whatsoever. And so

734
00:35:46,040 --> 00:35:48,200
Speaker 1: for the first time since I was seventeen years old,

735
00:35:48,239 --> 00:35:49,120
Speaker 1: I will be debt free.

736
00:35:49,880 --> 00:35:51,480
Speaker 4: Wow. That's awesome.

737
00:35:51,800 --> 00:35:57,000
Speaker 3: Okay, quick question though, so does this mean that basically,

738
00:35:57,040 --> 00:35:59,640
Speaker 3: by offering a lump some your loans aren't in default

739
00:35:59,640 --> 00:36:01,279
Speaker 3: though you're not. You haven't missed any payments like your

740
00:36:01,320 --> 00:36:03,960
Speaker 3: current but you're going to offer to settle your loans

741
00:36:04,000 --> 00:36:06,120
Speaker 3: for less and they're going to allow you.

742
00:36:06,320 --> 00:36:07,799
Speaker 2: That's a that's an option. I didn't know that.

743
00:36:08,400 --> 00:36:10,040
Speaker 4: Yeah, it's a negotiation that.

744
00:36:11,600 --> 00:36:12,000
Speaker 2: Angela.

745
00:36:12,120 --> 00:36:15,600
Speaker 3: Where were you a month ago when me and my

746
00:36:15,719 --> 00:36:19,319
Speaker 3: husband dropped twenty g's paying off his student loan debt.

747
00:36:19,480 --> 00:36:21,480
Speaker 1: Oh you did, and you didn't know you get a

748
00:36:21,520 --> 00:36:23,640
Speaker 1: negotiat for fifteen percent off because they feel like I'm

749
00:36:23,640 --> 00:36:24,520
Speaker 1: getting all my money up.

750
00:36:24,680 --> 00:36:26,840
Speaker 4: I didn't know that either. You know, Angela's my secret weapon.

751
00:36:27,239 --> 00:36:28,920
Speaker 4: Well not anymore. She's not a secret anymore.

752
00:36:29,400 --> 00:36:31,000
Speaker 2: No, I'm just pissed. I have to go.

753
00:36:33,640 --> 00:36:36,120
Speaker 4: Yeah, that's that's that's what I do. I going in

754
00:36:36,200 --> 00:36:38,239
Speaker 4: on negotiation. No, we're ready to pay off now. And

755
00:36:38,280 --> 00:36:40,120
Speaker 4: then they give us a thirty day window and we

756
00:36:40,160 --> 00:36:42,120
Speaker 4: got to pay it because they would calculate, you know,

757
00:36:42,320 --> 00:36:44,799
Speaker 4: at one point one percent interest rate, so we had

758
00:36:44,840 --> 00:36:46,640
Speaker 4: to pay it off within the thirty day window to

759
00:36:46,719 --> 00:36:48,080
Speaker 4: get debt deduction.

760
00:36:48,400 --> 00:36:51,719
Speaker 3: Yeah, that's really freaking annoying. Well, the government can just

761
00:36:51,760 --> 00:36:56,200
Speaker 3: take off when I'm just doing the Mathlu's fifteen percent.

762
00:36:56,040 --> 00:37:00,600
Speaker 4: Of twenty thousand, it's like twenty five, isn't it.

763
00:37:01,880 --> 00:37:02,800
Speaker 2: So that's a rent payment?

764
00:37:02,880 --> 00:37:09,360
Speaker 3: Damn it? Sorry, part of my friend. Can we close

765
00:37:09,400 --> 00:37:10,800
Speaker 3: up with one. I want to I want to. I

766
00:37:10,880 --> 00:37:13,160
Speaker 3: want to answer this question from our listener Michelle, because

767
00:37:13,200 --> 00:37:16,240
Speaker 3: she is a mom and I feel like she speaks

768
00:37:16,239 --> 00:37:17,960
Speaker 3: for all the parents out there looking at the cost

769
00:37:18,000 --> 00:37:20,280
Speaker 3: of college going up and their make account going nowhere

770
00:37:20,440 --> 00:37:23,720
Speaker 3: and is struggling. So we'll end with this question, Angela.

771
00:37:23,760 --> 00:37:28,120
Speaker 3: This is from listener Michelle. She says, I have three sons.

772
00:37:28,920 --> 00:37:31,239
Speaker 3: My college age child graduated from one of the top

773
00:37:31,320 --> 00:37:33,000
Speaker 3: high schools in our state, so we thought he'd be

774
00:37:33,040 --> 00:37:38,560
Speaker 3: assisted with scholarships. His class had record numbers of scholarship offers. However,

775
00:37:38,920 --> 00:37:41,520
Speaker 3: the schools who offered him money still wanted two to

776
00:37:41,600 --> 00:37:44,719
Speaker 3: three times the amount of the scholarship offered to pay

777
00:37:44,800 --> 00:37:48,000
Speaker 3: for attendance for so for tuition. We ended up choosing

778
00:37:48,080 --> 00:37:51,440
Speaker 3: an HBCU as a result, thinking that we could handle

779
00:37:51,480 --> 00:37:53,920
Speaker 3: the bill with financial aid support. We had no idea

780
00:37:54,000 --> 00:37:56,480
Speaker 3: that the financial aid had changed from when we were children.

781
00:37:56,920 --> 00:38:00,080
Speaker 3: Aside from the fact that I was we'll skip that

782
00:38:00,160 --> 00:38:03,439
Speaker 3: personal detail. We had no idea financial aid had changed

783
00:38:03,480 --> 00:38:05,480
Speaker 3: from when we were children, so we were unprepared for

784
00:38:05,560 --> 00:38:09,080
Speaker 3: what happened. The school let him know mid semester that

785
00:38:09,160 --> 00:38:12,200
Speaker 3: after attending just eight weeks that he either had to

786
00:38:12,239 --> 00:38:14,680
Speaker 3: come up with the money left over for tuition or

787
00:38:14,760 --> 00:38:17,160
Speaker 3: go home. My child did not tell us until it

788
00:38:17,200 --> 00:38:19,480
Speaker 3: was too late. He came home for a semester and

789
00:38:19,560 --> 00:38:22,360
Speaker 3: is planning to attend a local college instead. He's been

790
00:38:22,400 --> 00:38:26,680
Speaker 3: applying for scholarships without success. While we're concerned about our child,

791
00:38:27,000 --> 00:38:29,160
Speaker 3: we also have one who may be in a similar

792
00:38:29,200 --> 00:38:32,239
Speaker 3: situation in just three more years. How do we help

793
00:38:32,280 --> 00:38:35,480
Speaker 3: get their degrees paid for using year tips? And are

794
00:38:35,480 --> 00:38:37,400
Speaker 3: there any tips for adults going.

795
00:38:37,239 --> 00:38:38,000
Speaker 2: Back to school?

796
00:38:38,280 --> 00:38:40,200
Speaker 3: Oh, we just tackled this question, so we'll skip that one.

797
00:38:40,239 --> 00:38:44,040
Speaker 3: So Angela, basically, what she's asking is college is way

798
00:38:44,080 --> 00:38:47,640
Speaker 3: more expensive than we ever anticipated. How do we plan

799
00:38:47,840 --> 00:38:50,560
Speaker 3: for college expenses now when it's when we have one

800
00:38:50,640 --> 00:38:52,640
Speaker 3: kid in school and one soon to be in college

801
00:38:52,760 --> 00:38:53,160
Speaker 3: very soon.

802
00:38:54,600 --> 00:38:56,880
Speaker 4: I wish i'd knew where she resigned. But if she

803
00:38:56,960 --> 00:39:00,640
Speaker 4: can also send her child to Harvard, her child can

804
00:39:00,680 --> 00:39:03,520
Speaker 4: go to Harvard, providing that for free.

805
00:39:03,680 --> 00:39:04,520
Speaker 2: I love your advice.

806
00:39:05,360 --> 00:39:10,200
Speaker 4: Providing that she made less than sixty or sixty to

807
00:39:10,239 --> 00:39:12,359
Speaker 4: one hundred thousand dollars, It was one hundred thousand dollars

808
00:39:12,400 --> 00:39:14,920
Speaker 4: that they came down to sixty six thousand. Now, so

809
00:39:15,160 --> 00:39:20,000
Speaker 4: if she makes under one hundred thousand dollars, her child

810
00:39:20,000 --> 00:39:22,280
Speaker 4: can attend Harvard for free. That pay for their food,

811
00:39:22,320 --> 00:39:25,480
Speaker 4: their room, and the board. That's one thing that she

812
00:39:25,560 --> 00:39:28,520
Speaker 4: can do. As long as a GPA is up to

813
00:39:28,560 --> 00:39:30,440
Speaker 4: part at least a three point zero And if it's

814
00:39:30,480 --> 00:39:32,719
Speaker 4: not up to three point zero, then again we want

815
00:39:32,760 --> 00:39:36,040
Speaker 4: to go back to mcbra Hills and let's work on

816
00:39:36,120 --> 00:39:39,280
Speaker 4: the scholarship. Let's work on your ACT and SAT scores.

817
00:39:40,840 --> 00:39:43,520
Speaker 4: But here's another token that they can do. I love

818
00:39:43,520 --> 00:39:46,319
Speaker 4: America Corp. America Corp is a program where your child

819
00:39:46,400 --> 00:39:48,759
Speaker 4: can go for ten months at a time, but you

820
00:39:48,800 --> 00:39:52,680
Speaker 4: can only do it twice. With this program, the child

821
00:39:52,719 --> 00:39:55,120
Speaker 4: will go off to I don't know what state the

822
00:39:55,200 --> 00:39:57,080
Speaker 4: child may be in, but he will work for the

823
00:39:57,120 --> 00:40:00,680
Speaker 4: America program like Habitatle Humanity, Bill Homme and things in

824
00:40:00,680 --> 00:40:04,040
Speaker 4: that nature. Now, they will pay the child four hundred

825
00:40:04,040 --> 00:40:08,080
Speaker 4: dollars a month in stipend for ten months. They will

826
00:40:08,080 --> 00:40:11,640
Speaker 4: also give the child five thousand, eight hundred and fifteen dollars.

827
00:40:12,360 --> 00:40:15,000
Speaker 4: So together right there, that's over one thousand dollars. That's

828
00:40:15,040 --> 00:40:18,520
Speaker 4: over ten thousand dollars. Then the following year they'll do

829
00:40:18,560 --> 00:40:21,120
Speaker 4: the same thing. So a total of twenty thousand, six

830
00:40:21,200 --> 00:40:24,959
Speaker 4: hundred and thirty dollars is a nice piece of change

831
00:40:24,960 --> 00:40:27,080
Speaker 4: to go to college, especially if you go into a JUCO.

832
00:40:27,440 --> 00:40:30,440
Speaker 4: And this is not including the ASAT or the A TOACT.

833
00:40:30,840 --> 00:40:33,000
Speaker 4: Because if they rank high on the ACT, of course

834
00:40:33,080 --> 00:40:35,879
Speaker 4: they make a thirty thirty six and rank hundre percent out,

835
00:40:35,920 --> 00:40:38,960
Speaker 4: that's forty four thousand dollars, which is paid ten to

836
00:40:39,000 --> 00:40:41,080
Speaker 4: twelve thousand dollars in a deal. Or if they make

837
00:40:41,120 --> 00:40:42,839
Speaker 4: a twenty six, you can still get RID for three

838
00:40:42,840 --> 00:40:46,040
Speaker 4: thousand dollars a year, so that's still good money. Then

839
00:40:46,040 --> 00:40:49,319
Speaker 4: you can get into the five Data Capital program. Those

840
00:40:49,360 --> 00:40:52,880
Speaker 4: programs will pay you fifteen hundred dollars. The TOPS program

841
00:40:52,960 --> 00:40:56,000
Speaker 4: will give you eighteen hundred dollars. It depends on your GPA.

842
00:40:56,680 --> 00:40:59,439
Speaker 4: It depends on your SAT score. So if we start

843
00:40:59,520 --> 00:41:03,440
Speaker 4: preparing children while they're in middle school on how to

844
00:41:03,520 --> 00:41:06,840
Speaker 4: take the A S A, the SAT score, the ACT score,

845
00:41:06,960 --> 00:41:09,840
Speaker 4: keep their GPA up, or to find those big ticket

846
00:41:09,880 --> 00:41:13,000
Speaker 4: items on what they love to do, whether it's playing

847
00:41:13,040 --> 00:41:15,520
Speaker 4: sports or in the glee club, or or being a

848
00:41:15,600 --> 00:41:21,200
Speaker 4: manager or english or science person, then they can have

849
00:41:21,400 --> 00:41:23,880
Speaker 4: their loans. I mean they can have their they can

850
00:41:23,920 --> 00:41:27,520
Speaker 4: attend college for free. But it depends on the student.

851
00:41:27,840 --> 00:41:31,440
Speaker 4: It depends on the mother really pushing the child to

852
00:41:31,600 --> 00:41:34,600
Speaker 4: get the right GPA and to get the right ACAT

853
00:41:35,000 --> 00:41:37,239
Speaker 4: and the SAT score, which I feel this mother had

854
00:41:37,360 --> 00:41:40,920
Speaker 4: because they they received all these beautiful scholarships and they

855
00:41:40,960 --> 00:41:43,560
Speaker 4: went to to to U. I think you said HBCU.

856
00:41:44,160 --> 00:41:45,799
Speaker 2: Yeah, they chosen HPCU.

857
00:41:46,040 --> 00:41:48,440
Speaker 3: Angela you you said Harvard, and and I want to

858
00:41:48,520 --> 00:41:50,040
Speaker 3: just go back there because I feel like a lot

859
00:41:50,040 --> 00:41:52,080
Speaker 3: of families think the IVY leagues are out of there.

860
00:41:52,080 --> 00:41:55,160
Speaker 3: They just assume that they're expensive and don't even try,

861
00:41:55,600 --> 00:41:57,160
Speaker 3: like to apply to the IVY leagues. But they have

862
00:41:57,200 --> 00:41:59,880
Speaker 3: some of the most generous financially packages for low incomes

863
00:41:59,880 --> 00:42:03,480
Speaker 3: to students, right, and they can actually be really affordable

864
00:42:03,719 --> 00:42:04,920
Speaker 3: if you've got the good grades.

865
00:42:05,640 --> 00:42:08,480
Speaker 4: Yeah, you sure can, and then it would be a

866
00:42:08,520 --> 00:42:12,880
Speaker 4: blessing to go just go and learn from these scholars.

867
00:42:12,960 --> 00:42:15,560
Speaker 4: I mean, you're at Harvard and then it's free to

868
00:42:15,640 --> 00:42:19,080
Speaker 4: you then, but you know, take advantage of what they

869
00:42:19,120 --> 00:42:22,320
Speaker 4: would give you, take advantage of the teachers that's teaching

870
00:42:22,360 --> 00:42:27,120
Speaker 4: you your career course. You know, So yes, do apply

871
00:42:27,280 --> 00:42:30,080
Speaker 4: for Harvard. And then also if you're in Ohio. I

872
00:42:30,120 --> 00:42:32,400
Speaker 4: think it's Bernie Sanders have a I think it's a

873
00:42:32,440 --> 00:42:34,319
Speaker 4: junior college. I got to google it for you. I'm sorry,

874
00:42:34,360 --> 00:42:35,440
Speaker 4: I don't know at the top of my head, but

875
00:42:35,480 --> 00:42:38,000
Speaker 4: Bernie Sander has a juco that they're allowing the kids

876
00:42:38,040 --> 00:42:40,320
Speaker 4: to go to school for free. All the junior colleges

877
00:42:41,000 --> 00:42:44,000
Speaker 4: in the state of Ohio. The kids can go to

878
00:42:44,440 --> 00:42:46,200
Speaker 4: school for free if you're a resident. You got to

879
00:42:46,239 --> 00:42:50,799
Speaker 4: be a resident. Though that's only one drawback on that one.

880
00:42:51,040 --> 00:42:53,440
Speaker 4: They're doing it in New Jersey too as well. I

881
00:42:53,440 --> 00:42:55,080
Speaker 4: got to find out remember what school that is. I

882
00:42:55,160 --> 00:42:56,480
Speaker 4: got to look that up, but I can't click on

883
00:42:56,520 --> 00:42:58,759
Speaker 4: it now. But they're doing one in New Jersey where

884
00:42:58,760 --> 00:43:01,600
Speaker 4: you contend school for free. But what I do know

885
00:43:01,680 --> 00:43:05,520
Speaker 4: for a fact, if they can attend Harvard, if the

886
00:43:05,600 --> 00:43:08,600
Speaker 4: mom makes under one hundred thousand dollars.

887
00:43:08,400 --> 00:43:11,920
Speaker 3: A year, first she got to get into Harvard, like

888
00:43:12,239 --> 00:43:13,640
Speaker 3: at first she got to get the grades.

889
00:43:14,800 --> 00:43:17,400
Speaker 4: Yep, you got to get the grades. But from the

890
00:43:17,440 --> 00:43:19,640
Speaker 4: looks of this young man, I believe he has the grades.

891
00:43:21,239 --> 00:43:22,800
Speaker 4: From what she was stating, he has.

892
00:43:22,640 --> 00:43:25,520
Speaker 3: To grades sounds like it. I just it makes me

893
00:43:25,560 --> 00:43:28,640
Speaker 3: sad to think that all that potential. I mean, it's

894
00:43:28,719 --> 00:43:30,560
Speaker 3: one thing to go to community college to save money.

895
00:43:30,560 --> 00:43:33,279
Speaker 3: That definitely makes a lot of sense, but it kills me.

896
00:43:33,600 --> 00:43:35,560
Speaker 3: I was one of those kids whose parents didn't know

897
00:43:35,560 --> 00:43:37,719
Speaker 3: that they could dream that high in terms of being

898
00:43:37,719 --> 00:43:39,520
Speaker 3: able to afford an Ivy League school, and it was,

899
00:43:39,840 --> 00:43:41,640
Speaker 3: you know, it was always just I was always told,

900
00:43:41,680 --> 00:43:43,719
Speaker 3: you know, just go to a state school. And I

901
00:43:43,760 --> 00:43:46,480
Speaker 3: had a great education still, but I always look back

902
00:43:46,520 --> 00:43:49,000
Speaker 3: and I think, man, if only we had known the possibility,

903
00:43:49,000 --> 00:43:52,359
Speaker 3: we maybe would have taken more shots, or maybe if

904
00:43:52,360 --> 00:43:55,839
Speaker 3: my Sometimes I feel like the counselors at schools even

905
00:43:55,880 --> 00:43:59,840
Speaker 3: don't know or like don't want to get children's hopes up,

906
00:43:59,880 --> 00:44:03,600
Speaker 3: so they underestimate their potential in a lot of ways.

907
00:44:03,640 --> 00:44:05,120
Speaker 3: I feel like that was the case. I didn't go

908
00:44:05,160 --> 00:44:08,840
Speaker 3: to the most amazing public school, and that's I don't know.

909
00:44:08,840 --> 00:44:11,040
Speaker 3: It makes me sad that that there's kids in some

910
00:44:11,080 --> 00:44:13,680
Speaker 3: schools that aren't getting the encouragement to shoot for the

911
00:44:13,760 --> 00:44:17,239
Speaker 3: ivys or shoot for the best schools because there's an

912
00:44:17,280 --> 00:44:18,920
Speaker 3: assumption that, like they can't afford it.

913
00:44:20,360 --> 00:44:23,520
Speaker 4: That's true, you know, you are absolutely right, Mandy, and

914
00:44:23,560 --> 00:44:26,960
Speaker 4: they don't push that that knowledge into the students and

915
00:44:27,000 --> 00:44:28,759
Speaker 4: they tell them, you know, are you going to the

916
00:44:28,880 --> 00:44:30,360
Speaker 4: army the first place they want to see it. I

917
00:44:30,360 --> 00:44:33,080
Speaker 4: see it a lot down here in Mississippi instead of

918
00:44:33,120 --> 00:44:34,640
Speaker 4: telling a child you can yes.

919
00:44:36,800 --> 00:44:38,960
Speaker 3: I think it's a Southern thing, miss Angela. I think

920
00:44:39,000 --> 00:44:41,600
Speaker 3: it's the South because that was the same way in Georgia.

921
00:44:42,280 --> 00:44:46,279
Speaker 3: The same way, yeah, right there, and then you know.

922
00:44:46,280 --> 00:44:49,080
Speaker 4: And then all the potential that they have. You know,

923
00:44:50,160 --> 00:44:54,360
Speaker 4: Valid Victorians came on the TV last semester. There was

924
00:44:54,400 --> 00:44:57,400
Speaker 4: two valid Victorians. One went to criminal justice, one went

925
00:44:57,440 --> 00:45:00,000
Speaker 4: to a biology major. One had to pay for colleg

926
00:45:00,360 --> 00:45:03,840
Speaker 4: one had everything paid for free, so came out the

927
00:45:03,920 --> 00:45:06,280
Speaker 4: same school. I wanted to know what was the difference,

928
00:45:06,320 --> 00:45:09,280
Speaker 4: so I want to investigate. Started looking at it. Well,

929
00:45:09,480 --> 00:45:13,640
Speaker 4: the only different was was they both valed Victorians, but

930
00:45:13,719 --> 00:45:15,959
Speaker 4: no one pushed the young lady. The other young lady

931
00:45:15,960 --> 00:45:18,840
Speaker 4: wanted to go not not criminal justice, but nobody is

932
00:45:18,880 --> 00:45:21,960
Speaker 4: pushing her, motivating her that she can be something better

933
00:45:22,000 --> 00:45:25,799
Speaker 4: than what she then was she chosen. I'm not you know,

934
00:45:25,840 --> 00:45:27,680
Speaker 4: I'm just saying she could have. She said she wanted

935
00:45:27,680 --> 00:45:29,440
Speaker 4: to be a nurse, but then you know, she was

936
00:45:29,480 --> 00:45:31,960
Speaker 4: told nursing was hard, so she didn't she didn't go

937
00:45:32,040 --> 00:45:34,800
Speaker 4: for nursing since she didn't do criminal justice. Why because

938
00:45:34,800 --> 00:45:37,239
Speaker 4: my brother did criminal justice and my my sister did

939
00:45:37,280 --> 00:45:39,080
Speaker 4: criminal justice. I said, but what do you want to do.

940
00:45:39,239 --> 00:45:41,719
Speaker 4: I don't want to do nursing. But my parents said this,

941
00:45:41,760 --> 00:45:44,160
Speaker 4: said do criminal justice. Well I couldn't go. I could

942
00:45:44,200 --> 00:45:46,160
Speaker 4: not you know, tell her nothing the difference. But I

943
00:45:46,520 --> 00:45:48,759
Speaker 4: did tell her to follow your dreams. You're gonna have

944
00:45:48,760 --> 00:45:53,879
Speaker 4: to follow your dreams one day. But it's sad. But yeah,

945
00:45:54,000 --> 00:45:55,240
Speaker 4: it's it's just sad.

946
00:45:55,120 --> 00:45:56,680
Speaker 2: Do you also charge for pep talks?

947
00:45:56,719 --> 00:45:58,960
Speaker 3: Angela, ma'am.

948
00:45:59,640 --> 00:46:03,920
Speaker 4: I know, it's a passion of minds, Mandy. You know,

949
00:46:04,880 --> 00:46:07,239
Speaker 4: it's just a passion. It's a passion of minds. And

950
00:46:07,840 --> 00:46:10,040
Speaker 4: I really want to see a lot of children succeed,

951
00:46:10,200 --> 00:46:14,080
Speaker 4: you know. You know, we're down here in Mississippi and

952
00:46:14,320 --> 00:46:17,480
Speaker 4: in college Mississippi High School, they don't even have textbooks,

953
00:46:17,840 --> 00:46:21,759
Speaker 4: they have worksheets. And then I'm in Hattiesburg, Mississippi, and

954
00:46:21,800 --> 00:46:24,600
Speaker 4: they have bean bags, they don't even have the Sidney chair.

955
00:46:24,960 --> 00:46:27,240
Speaker 4: I mean, it's just a big difference, a big divide.

956
00:46:27,360 --> 00:46:31,880
Speaker 4: And so I have compassion for financial literacy here in

957
00:46:31,920 --> 00:46:34,799
Speaker 4: the state of Mississippi. I have compassion to help the

958
00:46:34,920 --> 00:46:39,640
Speaker 4: underserved communities as it relates to attending college debt free.

959
00:46:39,680 --> 00:46:42,799
Speaker 4: And that's why I pushed the Americourt program. Instead of

960
00:46:42,800 --> 00:46:45,040
Speaker 4: going to work for a chicken plant, instead of going

961
00:46:45,080 --> 00:46:48,040
Speaker 4: to the Hamburger stand, why don't you go to America program.

962
00:46:48,239 --> 00:46:51,000
Speaker 4: They will pay you twenty thousand, six hundred and thirty dollars.

963
00:46:51,239 --> 00:46:54,480
Speaker 4: This is not including your FASTPA, which is five eight

964
00:46:54,520 --> 00:46:57,319
Speaker 4: hundred and fifteen dollars. This is not including your f

965
00:46:57,360 --> 00:47:00,000
Speaker 4: sCOD rent, which is a Federgal rent, which is an

966
00:47:00,080 --> 00:47:02,640
Speaker 4: other four thousand dollars. So I've just given you over

967
00:47:02,680 --> 00:47:05,160
Speaker 4: forty four thousand dollars worth of aid right there, and

968
00:47:05,200 --> 00:47:07,719
Speaker 4: you didn't take out not one loman, not the loan

969
00:47:07,800 --> 00:47:10,760
Speaker 4: that you take out. You can attend college debt free,

970
00:47:10,960 --> 00:47:13,239
Speaker 4: but you have to put your mind to it. If

971
00:47:13,239 --> 00:47:16,200
Speaker 4: you change your mind, you can change your money, you

972
00:47:16,239 --> 00:47:20,160
Speaker 4: can change your life. You have to change your mind.

973
00:47:20,360 --> 00:47:24,480
Speaker 4: It's a money mindset thing. You must change your mind

974
00:47:25,000 --> 00:47:27,600
Speaker 4: and believe in yourself that you can do it. And

975
00:47:27,680 --> 00:47:30,799
Speaker 4: anything that you say that after I am you'll do

976
00:47:30,840 --> 00:47:33,120
Speaker 4: it and your brain automatically believes it. So if you

977
00:47:33,160 --> 00:47:37,319
Speaker 4: say I am victorious, I am a graduate student. I am,

978
00:47:37,719 --> 00:47:40,839
Speaker 4: I am, I am, and just tell yourself I am,

979
00:47:40,920 --> 00:47:43,720
Speaker 4: and these kids can get it done. I am debt free,

980
00:47:43,880 --> 00:47:47,160
Speaker 4: I am student loan debt free, and go to college

981
00:47:47,200 --> 00:47:51,520
Speaker 4: and do it for free. I'm passing a collection platese Mandy,

982
00:47:51,600 --> 00:47:52,800
Speaker 4: how much you put in this collection?

983
00:47:52,840 --> 00:48:00,080
Speaker 1: Planum No, Honestly, now you guys can see why I

984
00:48:01,160 --> 00:48:06,439
Speaker 1: said that Angela was amazing, because it's not just it's

985
00:48:06,480 --> 00:48:09,440
Speaker 1: not just about like, oh, basic student loan stuff, like

986
00:48:09,440 --> 00:48:14,000
Speaker 1: Angela is passionate about a better life for kids and

987
00:48:14,040 --> 00:48:17,680
Speaker 1: women and people like us, you know, brown ambition people, yes,

988
00:48:17,719 --> 00:48:19,920
Speaker 1: and so you know, and so I just I love

989
00:48:19,960 --> 00:48:22,640
Speaker 1: when I meet someone who puts that above all else,

990
00:48:22,719 --> 00:48:24,920
Speaker 1: like how can I help? How can I shift the culture?

991
00:48:25,080 --> 00:48:27,279
Speaker 1: If you only knew better, you do better? And so

992
00:48:27,360 --> 00:48:29,160
Speaker 1: that's what I just really love. And Angela, thank you

993
00:48:29,280 --> 00:48:31,680
Speaker 1: so much. I'm so glad I got to share you

994
00:48:31,719 --> 00:48:33,960
Speaker 1: with everyone listening, because right now I know they're like,

995
00:48:33,960 --> 00:48:35,880
Speaker 1: oh my goodness. I thought there was just going to

996
00:48:35,920 --> 00:48:37,520
Speaker 1: be some student loan questions. I didn't know my life

997
00:48:37,640 --> 00:48:39,000
Speaker 1: was fin to change.

998
00:48:41,239 --> 00:48:44,080
Speaker 4: Thank you, thank you. It's truly a pleasure. I enjoy

999
00:48:44,200 --> 00:48:49,000
Speaker 4: talking about student which it's just a passion to make

1000
00:48:49,040 --> 00:48:51,359
Speaker 4: sure that we can get as many people as we

1001
00:48:51,400 --> 00:48:53,680
Speaker 4: can out of financial aid prison.

1002
00:48:54,480 --> 00:48:57,359
Speaker 3: And Angela, you allow people to schedule like you can

1003
00:48:57,400 --> 00:49:02,000
Speaker 3: schedule a twenty minute consultation with you? Right, oh, yes, absolutely,

1004
00:49:02,120 --> 00:49:03,920
Speaker 3: so tell people how they can get signed up. So

1005
00:49:03,960 --> 00:49:06,000
Speaker 3: I've got a link to the sign to the to

1006
00:49:06,040 --> 00:49:08,360
Speaker 3: the sign up sheet where you can schedule a free

1007
00:49:08,800 --> 00:49:09,400
Speaker 3: Is it free?

1008
00:49:09,960 --> 00:49:10,440
Speaker 4: No, ma'am?

1009
00:49:10,960 --> 00:49:13,120
Speaker 3: Okay, no, no, I was gonna say no, no, well

1010
00:49:13,160 --> 00:49:16,640
Speaker 3: that wasn't in the fine friend, let's be uptree.

1011
00:49:16,880 --> 00:49:20,439
Speaker 4: Is it twenty minute consultation? It's sixty five dollars, that's

1012
00:49:20,480 --> 00:49:22,719
Speaker 4: what it is. And then you're able to discuss your

1013
00:49:22,719 --> 00:49:26,040
Speaker 4: situation to me, and I can tell you the best

1014
00:49:26,040 --> 00:49:30,080
Speaker 4: trajectory that I think that you can that you can

1015
00:49:30,120 --> 00:49:32,640
Speaker 4: go into now. If you want me to do it

1016
00:49:32,680 --> 00:49:36,080
Speaker 4: for you, then that's another that's another, you know, another

1017
00:49:36,120 --> 00:49:38,920
Speaker 4: information call. But if you want to be just listened

1018
00:49:38,920 --> 00:49:41,000
Speaker 4: to you and give a review of what you have

1019
00:49:41,120 --> 00:49:43,840
Speaker 4: going on, and I can direct you in the best

1020
00:49:43,880 --> 00:49:47,719
Speaker 4: possible solution that that we can come up with.

1021
00:49:48,040 --> 00:49:50,120
Speaker 3: And what's your website, Angela? Where can people find out

1022
00:49:50,120 --> 00:49:50,560
Speaker 3: more about you?

1023
00:49:51,880 --> 00:49:55,200
Speaker 4: Well? Right now, it is the Financial Literacy Institute Incorporated

1024
00:49:56,120 --> 00:49:59,960
Speaker 4: dot org. That is where it is, so Financial Literay

1025
00:50:00,320 --> 00:50:03,680
Speaker 4: Nude I n C i NC dot org.

1026
00:50:03,960 --> 00:50:06,160
Speaker 3: Okay, all right, I'm gonna post a link to that

1027
00:50:06,200 --> 00:50:09,160
Speaker 3: on the site as well. Angela, thank you so much

1028
00:50:09,160 --> 00:50:12,360
Speaker 3: for being the star of our student loan episode.

1029
00:50:12,800 --> 00:50:15,840
Speaker 4: Yeah, thank you, thank you. It's been a pleasure. I

1030
00:50:16,000 --> 00:50:19,520
Speaker 4: truly enjoyed it and it's been wonderful. And I pray

1031
00:50:19,600 --> 00:50:21,640
Speaker 4: that everybody at their questions answered.

1032
00:50:22,200 --> 00:50:24,239
Speaker 1: I'm gonna highlight you tomorrow, Angela, so we can work on,

1033
00:50:24,280 --> 00:50:25,560
Speaker 1: you know, the next steps, because then, you know, we

1034
00:50:25,600 --> 00:50:32,040
Speaker 1: have other business to take care. I'm we gotta get

1035
00:50:32,120 --> 00:50:34,920
Speaker 1: rid of this week, this seventeen thousand, five hundred. We're

1036
00:50:34,960 --> 00:50:37,600
Speaker 1: still in progress. I'll give you guys an update about

1037
00:50:37,600 --> 00:50:39,640
Speaker 1: it and we'll do a little happy dance on Brian

1038
00:50:39,640 --> 00:50:41,440
Speaker 1: Ambish when it when it finally finishes.

1039
00:50:42,560 --> 00:50:50,279
Speaker 4: All right, that sounds like a plane.

1040
00:50:53,360 --> 00:50:55,680
Speaker 3: Hey guys, this is Mandy with a quick recap. We

1041
00:50:55,760 --> 00:50:59,080
Speaker 3: hope you found these tips from Angela Housy super helpful.

1042
00:50:59,160 --> 00:51:02,839
Speaker 3: You can check out her website at Financial Literacyinstitute dot org.

1043
00:51:03,320 --> 00:51:06,520
Speaker 3: Also check out the show notes for this week's episode

1044
00:51:06,560 --> 00:51:10,160
Speaker 3: in iTunes or at Broadambition Podcast dot com. I've put

1045
00:51:10,200 --> 00:51:13,560
Speaker 3: together a Google doc which has a recap of everything

1046
00:51:13,560 --> 00:51:17,080
Speaker 3: we discussed in today's shows, with some links to resources,

1047
00:51:17,120 --> 00:51:20,719
Speaker 3: links to websites that you may find useful, and the

1048
00:51:21,080 --> 00:51:23,359
Speaker 3: chart that we mentioned where we sort of break down

1049
00:51:23,400 --> 00:51:27,880
Speaker 3: the different income payment plans offered by the federal government.

1050
00:51:28,120 --> 00:51:30,520
Speaker 3: Hope you guys found this useful. Again, holler at us

1051
00:51:30,520 --> 00:51:33,239
Speaker 3: at Broadambition podcast dot com with any questions.

1052
00:51:33,560 --> 00:51:34,560
Speaker 2: Yours and Brown Ambition