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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

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Speaker 1: aliens have been arrested. If you are here illegally, your

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Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,

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Speaker 1: and deported. You will never return. But if you register

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Speaker 1: using our CBP home app and leave now, you could

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Speaker 1: be allowed to return legally. Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security Earners.

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Speaker 4: What's going on?

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Speaker 5: Listen, eylu is relaunching, revamping retoom. That's why we're creating

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Speaker 5: a new educational experience that's more expensive.

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Speaker 4: Shot tell what we got, Yes, twenty twenty three. We

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Speaker 4: got a lot in still a lot playing for you guys.

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Speaker 4: So you know that EYLU already includes monthly financial planning

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Speaker 4: calls with Me, book club calls with Troy, real estate

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Speaker 4: calls with MG the mortgage got access to the Home

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Speaker 4: Buying Blueprint Volume one and Volume two. Part of the

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Speaker 4: revamp will include twenty seven local chapters from across the

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Speaker 4: United States, live interactive teaching hands on not just pre

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Speaker 4: recorded videos, plus fifteen brand new curriculums.

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Speaker 5: The biggest just got bigger.

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Speaker 6: Head over to eyl University dot com. That's EYL. You

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Speaker 6: n I V E R s I T Y dot com.

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Speaker 5: See you there.

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Speaker 2: This is a good one for schools. Schools want to

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Speaker 2: give money to people that have shown proven history in

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Speaker 2: high school of being active and value members, like they

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Speaker 2: want to put you on the billboard. So when I

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Speaker 2: went to Bloomsburg and got all of that money, it's

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Speaker 2: because I was a part of everything in high school.

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Speaker 2: So nine times out of ten, I'm going to do

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Speaker 2: what be a part of everything here in college. You

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Speaker 2: can put me as an ambassador. You might want to

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Speaker 2: put me up there, like you know, this is how

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Speaker 2: schools think about when they give institutional money. If that

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Speaker 2: makes sense.

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Speaker 4: All right, guys, welcome back, eyl back home. Yes, so

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Speaker 4: this is going to be a follow up episode.

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Speaker 5: Welcome back, Glad to be sure.

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Speaker 4: Sonya Lewis aka the student loan Doctor. So we spoke

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Speaker 4: around two years ago and it was a great episode.

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Speaker 4: So we got your whole backstory, how you started a business,

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Speaker 4: in a variety of different things. So we'll go straight

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Speaker 4: into it this time because I think that being that

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Speaker 4: we already kind of spoke on that side, now we

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Speaker 4: can kind of just focus straight on the student loan issues.

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Speaker 4: And there's a lot that's going on. Obviously, it's very

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Speaker 4: time sensitive. The President, Joe Biden, has made some new changes,

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Speaker 4: so there's a lot to talk about, and a lot

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Speaker 4: of people are confused. A lot of people don't know

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Speaker 4: what's going on, what's what's real and what's not. And

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Speaker 4: now more than ever, people need the information because you know,

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Speaker 4: student loans have only gone up so trillion dollars in debt.

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Speaker 5: Total real debt dollars. Yeah, yeah, yeah.

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Speaker 4: First and Foremo, thank you for joining us, appreciate it,

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Speaker 4: thank you for having me back.

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Speaker 2: I will say business changed significantly. It's a blessing over

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Speaker 2: your lives. No, the awareness that you guys brought to

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Speaker 2: our business after the first episode, I really can't thank

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Speaker 2: you guys enough, just because it is in line everything

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Speaker 2: you guys talk about. There's always somebody's little elephant, like,

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Speaker 2: but what about my loans when you think about investing,

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Speaker 2: home buying, any of that, somebody has a probably six

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Speaker 2: figure student loan problem that may stop them from doing

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Speaker 2: all the great things you guys are talking about. So

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Speaker 2: when we shed a little light or a little perspective,

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Speaker 2: it just makes people want to go actually do what

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Speaker 2: you guys are telling them to do.

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Speaker 5: Yeah, it's one of those things that as teenagers. I

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Speaker 5: can remember even now when we talk to the young adults,

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Speaker 5: nobody prepares them for this moment, and we try to

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Speaker 5: say it's the probably the biggest financial decision you're going

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Speaker 5: to make at eighteen. I mean, obviously, if somebody gets

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Speaker 5: married later their life, that'll be one, but college is

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Speaker 5: that And if you make the wrong decision or if

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Speaker 5: you don't have the right information, like you said, you're

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Speaker 5: talking six figures in debt, which is tough to climb

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Speaker 5: out of, especially when you talk about interest rates, especially

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Speaker 5: when you talk about the cost of living. It's tough,

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Speaker 5: it's almost insurmountable, and we don't know, we don't know why.

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Speaker 5: This is why episodes like this is so important.

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Speaker 4: Yeah, yeah, yeah, all right, So okay, let's start here.

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Speaker 4: So we posted last week, a couple weeks ago that

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Speaker 4: Biden announced to cancel more than five million dollars in

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Speaker 4: student loan debt money additional and a lot of people,

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Speaker 4: you know, they was confused. They're like, well, I don't

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Speaker 4: know anybody that has received any cancel doing loans, and

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Speaker 4: people it was like, well, I actually did receive it cancel.

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Speaker 2: I saw the comments. Yeah yeah, So.

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Speaker 4: What exactly what Ezaki happened and who actually benefits from this?

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Speaker 2: So here's what's going to happen. We're going to see

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Speaker 2: more and more headlines like five billion, five We're going

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Speaker 2: to just see all these headlines because what is coming

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Speaker 2: up anybody know, election? So this is going to be

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Speaker 2: the carrot if you will, to get people to re

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Speaker 2: elect in terms of our age groups, so you figure

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Speaker 2: anywhere from like age thirty to like fifty five, the

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Speaker 2: student loan carrot is definitely going to keep being pulled.

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Speaker 2: So he did actually give out money and I do

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Speaker 2: know from my community a lot of people been in

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Speaker 2: from it. Now, let's talk about who benefited from it

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Speaker 2: the most. You probably were over age forty five. You

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Speaker 2: probably were in school, like nineteen ninety five to two thousand,

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Speaker 2: because there was a time period around that type of

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Speaker 2: money that he gave out. And the term here is

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Speaker 2: called income driven repayment. They were looking to see were

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Speaker 2: you in school and payment for twenty twenty five years.

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Speaker 2: And then here's the thing. They even made some exclusions.

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Speaker 2: Let's say you weren't in repayment, but you had loans

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Speaker 2: that amount of time in repayment they hit for forgiven. Well,

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Speaker 2: we might get into it, but there was a big

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Speaker 2: glitch that occurred recently too. So even though they put

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Speaker 2: the headline out there about the five I think it

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Speaker 2: was billion, right billion, we're using terms of billions.

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Speaker 4: Now right, we saying billions billion five.

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Speaker 2: The challenge is is that there were about over nine

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Speaker 2: million people left out in that last round. So this

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Speaker 2: is the first time ever that they actually made an

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Speaker 2: announcement that they messed up. I was very big with

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Speaker 2: the Department Education.

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Speaker 5: I feel like they always messing up.

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Speaker 2: Well, they actually said they did it though, So what

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Speaker 2: happened was there's literally what they do is they push

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Speaker 2: a button. It's like a real one button, and if

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Speaker 2: you qualify according to their system, you would have got

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Speaker 2: the email. You get the letter. Things go into perspective, Well,

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Speaker 2: a lot of people, over nine million people got skipped

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Speaker 2: because if you had just consolidated a few years prior

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Speaker 2: or you know how all these loans are being transferred

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Speaker 2: to different lenders, the lenders aren't showing the full loan history.

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Speaker 2: So a lot of people accidentally got skipped.

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Speaker 5: So who are the lenders that that would qualify because

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Speaker 5: I know, I mean, any federal.

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Speaker 2: Legdars can qualify. But the problem is is, let's give

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Speaker 2: it a good example. You know how everybody went from

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Speaker 2: FED loans to Mohilia that was in the public service

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Speaker 2: long forgiveness. Well, just because you went over to Mohilla

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Speaker 2: doesn't mean all of your history went with you. And

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Speaker 2: there used to be an old system. If you're an

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Speaker 2: education you'll know it called NSLDS. It actually used to

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Speaker 2: be open to the public until the pandemic. We all

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Speaker 2: could have looked at everybody's loan history on that site.

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Speaker 2: Colleges and universities use it Now it's a private site.

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Speaker 2: So if you want what's called your pre conversion record,

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Speaker 2: you have to request it from the Department of Education.

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Speaker 2: Now it's very so it's very elusive, and it's actually

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Speaker 2: not beneficial to just the everyday person to be a

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Speaker 2: to track their progress. You used to contract, how long

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Speaker 2: you were in for parents for payment in school. Those

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Speaker 2: are the type of pieces of information you need to

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Speaker 2: fight for yourself to get your loans forgiven.

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Speaker 4: So okay, so how do you apply for that for

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Speaker 4: the pre conversion or which part Joe Biden what he

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Speaker 4: just did?

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Speaker 2: Okay, So if you missed it, a lot of people

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Speaker 2: missed it, Like I said, over nine million people missed it.

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Speaker 2: What you would have to do is file a complaint.

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Speaker 2: So we actually have something that we're putting together and

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Speaker 2: we've been helping people one on one file a complaint.

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Speaker 2: So the cool thing about it is is that it's

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Speaker 2: going to take them about let's say three to six

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Speaker 2: months from now. We're with December. In December, so three

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Speaker 2: to six months from now, they're going to literally go

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Speaker 2: through each person's complaint. So that department is called the

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Speaker 2: Obuzman Group. They'll look through, they'll say, hey, we shot,

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Speaker 2: you're right, you should have been forgiven. We didn't see

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Speaker 2: your pre conversion record from prior. Some people will be

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Speaker 2: sold No, let's say you were in grad school for forever.

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Speaker 2: You weren't in repay then, so you have to literally

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Speaker 2: submit a complaint through Student Aid doc Gov. Right, And

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Speaker 2: it can't be like I'm upset y'all didn't forgive me,

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Speaker 2: so they're going to close it out. So it has

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Speaker 2: to be thought out. And you should even like highlight

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Speaker 2: or be prepared to say if you know which loans

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Speaker 2: you believe could be forgiven, so spend a little time

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Speaker 2: on it.

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Speaker 5: Gotcha, gotcha. So that was for the nine million people,

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Speaker 5: the biggest one. And when you came in, you're like, try,

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Speaker 5: how your loan's doing well.

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Speaker 2: I just knew you was going to say they were going.

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Speaker 2: I was excited for.

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Speaker 5: There's some confusion around it, right, because I feel like

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Speaker 5: they make a mistakes. So the public Service loan forgiveness. Yes,

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Speaker 5: so there's a couple of things around it. Let's just

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Speaker 5: explain to the people again what that is. And then

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Speaker 5: I know there's a bunch of dates. So I even

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Speaker 5: I get the emails like, hey, this is expiring by

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Speaker 5: the October, so we'll start there and then we'll dive

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Speaker 5: into the some of the misconceptions and confusion around the

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Speaker 5: public service.

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Speaker 2: So just depending on the audience that's watching this, most people,

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Speaker 2: I would say, just even think about your events are

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Speaker 2: between thirty and fifty. Would you say that's about right?

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Speaker 5: Yep.

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Speaker 2: So if you're between forty and fifty, you got to

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Speaker 2: be careful here. You want to log in the studenta

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Speaker 2: dot gov and you want to look at your loans

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Speaker 2: click view details, and you want to see if it

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Speaker 2: says that you have a direct loan, very important. If

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Speaker 2: you have what's called a FFELP loan, that's not going

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Speaker 2: to work. So it has to be direct loan. That's

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Speaker 2: all you need to know. Then you'll be eligible for

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Speaker 2: any forgiveness programs coming up, even by the loan forgiveness.

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Speaker 2: But they're doing something really really I don't want to

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Speaker 2: say sneaky, but one email went out about it. If

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Speaker 2: you have an f FELP loan, you have until December

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Speaker 2: thirty first.

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Speaker 5: This year this year to apply to apply.

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Speaker 2: Or you will never get anything forgiven. This is a

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Speaker 2: heavy word to say never, okay, but the administration is

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Speaker 2: said you will never might they're being using. So what

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Speaker 2: will happen is is if somebody's watching this in January,

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Speaker 2: good to know you will want to if you have

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Speaker 2: missed this information, you will want to contact the Department Education,

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Speaker 2: not your lender, and see if there's any way that

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Speaker 2: you can get an extension. Now, what might happen which

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Speaker 2: is important to note go to student A dot got

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Speaker 2: for this update. There may be an extension given because

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Speaker 2: when we look at the data, that's over ten million people,

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Speaker 2: and we know that there's forty three million barbers, ten

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Speaker 2: million are going to be excluded from forgiveness forever because

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Speaker 2: of that rule.

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Speaker 5: And from a standpoint, like you said, there is an election,

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Speaker 5: you want to have the most people.

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Speaker 2: That's OK, that's a hard rule to put.

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Speaker 5: You can sway them around that. But so the loan forgiveness,

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Speaker 5: the teacher, well we'll get to the teacher loan forgiveness,

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Speaker 5: but the public.

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Speaker 2: The best program I think that exists.

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Speaker 5: Yes, it's still the same requirements, right, it's one hundred

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Speaker 5: and twenty qualifying payments, ten years of service. And so

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Speaker 5: if you have those things, most people think they qualify. Yeah, right,

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Speaker 5: And so I was under that assumption yeah. And then

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Speaker 5: when I was filling out the application, there was a

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Speaker 5: box and the box said, and this is to my understanding,

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Speaker 5: I was like, wait, I don't know if I qualify

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Speaker 5: anymore because technically I don't work as a teacher in

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Speaker 5: ability I do it.

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Speaker 2: That's why I wanted to clarify.

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Speaker 5: So I was like, wait, I don't qualify anymore. And

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Speaker 5: to my assumption, because when I read the fine line,

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Speaker 5: it said, hey, if you're no longer employed, then how

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Speaker 5: do we do it?

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Speaker 6: Do it?

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Speaker 5: So I didn't the first time. I didn't do it well,

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Speaker 5: I did it earlier, and then I didn't qualify for

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Speaker 5: the first before body changed the rules. Then I saw

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Speaker 5: that line, I'm.

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Speaker 2: Like hammering you on days because that thought is what

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Speaker 2: stopping everybody for so many clients. I wanted people to

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Speaker 2: hear you say that, so I read it again. I

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Speaker 2: just still feel like I want to just, you know,

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Speaker 2: tell everybody that's listening, it's not about what you feel

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Speaker 2: or think anymore. Just submit because there are new rules.

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Speaker 2: And what you don't know is what you're talking about

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Speaker 2: is the rules that you could have missed. Was October

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Speaker 2: twenty twenty two, they put a hard stop exactly, but

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Speaker 2: it's not a hard stop. This is why I said,

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Speaker 2: they waiver you go on the website for limited time only.

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Speaker 2: The te PSL LEFT program has been extended. That's what

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Speaker 2: you're under. But nobody's going to call you. Nobody text

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Speaker 2: him and said, hey, foy, did you get that paper in?

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Speaker 2: So people did what They just let it go and

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Speaker 2: forgot about it.

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Speaker 5: So I still got a chance.

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Speaker 2: You have a fighting chance. And so I also tell people,

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Speaker 2: because we are coming up on Biden Loan forgiveness, those

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Speaker 2: that are eligible for t EPSLF, and I say these

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Speaker 2: acronyms a lie and I say them hard so that

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Speaker 2: I will hope that they go to student a dot

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Speaker 2: gov and type it in. Like if you type in

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Speaker 2: t EPs LF, everything comes up. You got to like

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Speaker 2: literally go to your old employers, like pull up on them,

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Speaker 2: get a wet signature and a keyword mallet certified, no

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Speaker 2: stamps got they throw them out. It's forty people that

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Speaker 2: work here, y'all, like in theory, like.

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Speaker 5: Just it, I'm right now, I'm listening. Yeah. So there's

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Speaker 5: a couple of things now right, because the Public Service

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Speaker 5: Loan and the teacher Loan Forgiveness are two different things. Yeah, right,

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Speaker 5: So if somebody works ten years as a teacher, right,

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Speaker 5: but they got the loan giveness from this, do they

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Speaker 5: work in conjunction or not anymore?

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Speaker 2: A good question. So if you are a teacher and

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Speaker 2: you could also get PSLF, it used to be before

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Speaker 2: October twenty twenty two you could do both, but now

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Speaker 2: you have to do one or the other. Obviously we

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Speaker 2: want to do PSLF forget. I get like like tickle

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Speaker 2: pink about this stuff, like so exciting. Yeah, so in

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Speaker 2: July coming up, now you can make they say you're

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Speaker 2: going to be able to get in potato number multiple

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Speaker 2: payments on your PSLF. So I wanted to wait to

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Speaker 2: tell you this on ear So like let's say you

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Speaker 2: had two years left. That's twenty four months. Everybody follow

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Speaker 2: you don't have to wait twenty four months anymore. As

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Speaker 2: of July, let's say your payment only came out to

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Speaker 2: a making us up two fifty a month, and you're like, oh,

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Speaker 2: I got you know how much in my savings? You

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Speaker 2: can make those payments a lot quicker. Now, what I

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Speaker 2: don't know yet is is it only that you know

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Speaker 2: Troy can make five and a month extra, Like we

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Speaker 2: don't know if there's a number yet per month. Ok

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Speaker 2: alumsumming no. And so what I read recently the other day,

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Speaker 2: it's sounds like it's gonna be a lune sum situation. Remember, guys,

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Speaker 2: they're coming up, and you see how it's perfectly time

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Speaker 2: for July. We're coming up on what election.

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Speaker 5: So here's my last thing work and Shah, I thank

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Speaker 5: you for giving me the greetings grievance here because this

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Speaker 5: is personal right and I want everybody to hear it

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Speaker 5: because I'm going through it myself. Yeah, you got to

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Speaker 5: you want to do the public public service loan forgiveness

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Speaker 5: because you can get more forgiven. If I did the

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Speaker 5: teacher loan, the max I can get a seventeen to five.

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Speaker 2: Yes, we don't want.

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Speaker 5: You don't so you want to go towards that. Now

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Speaker 5: you're saying that there's a Biden loan, So what's the

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Speaker 5: difference between those?

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Speaker 2: So this is for everybody watching. I want to use

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Speaker 2: my phone for a second because I had to read

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Speaker 2: this to you guys verbatim. And you know, I told

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Speaker 2: you I think somebody black made this up. You know,

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Speaker 2: deministration is looking different these days, all right, So these

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Speaker 2: are the five groups that are eligible for Biden loan forgiveness.

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Speaker 2: Number one, Again, I did make this up and I'm

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Speaker 2: not paraphrasing, and I took this from Forbes. So fororwars

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Speaker 2: with current balances greater than what they originally borrowed. Everybody, okay,

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Speaker 2: most like ninety Number two those who entered into repayment

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Speaker 2: on their student loans twenty five or more years ago.

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Speaker 2: So they're changing it from twenty to twenty.

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Speaker 5: Five to more people.

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Speaker 2: Yep, yep, all right. Next one, students who attended programs

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Speaker 2: of questionable value. You ever go to a school that

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Speaker 2: was questionable? When I sent this to my team, they

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Speaker 2: were like, did you make this up? I'm like, no,

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Speaker 2: I took it off line.

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Speaker 5: So that's some of those like them online schools that

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Speaker 5: kind of just.

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Speaker 2: They're keeping it very blanket on purpose.

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Speaker 5: That would be like an exist Yeah, all right.

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Speaker 2: Number four borrowers eligible for existing relief programs, including public

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Speaker 2: service loan forgiveness. This this shoe who just haven't applied.

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Speaker 2: That's me not being serious, Like that's you, that's me. Okay.

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Speaker 2: The last one, you're all ready for this one? This

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Speaker 2: everybody borrowers and financial hardship.

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Speaker 5: Now what qualifies financial hardship?

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Speaker 4: Throw?

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Speaker 2: So the problem here is in the good problem is

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Speaker 2: that my belief and I set this on my platform.

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Speaker 2: They made things so broad because they want almost everybody

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Speaker 2: to be eligible. You kind of con find yourself in

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Speaker 2: one of five. Then number two is this an application

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Speaker 2: again or is this general? It has to be some

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Speaker 2: form of application for you to be subjective like this.

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Speaker 2: Then the last thing is and to your point number three,

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Speaker 2: this is why I think it's going to pass through.

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Speaker 2: So when they did the first round of Biden loan forgiveness,

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Speaker 2: and again I think everything's political anyway, they put it through.

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Speaker 2: What was the one that Trump had said we can

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Speaker 2: have the Pandemic pause for. I'm sorry, I don't know

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Speaker 2: that one. I think it was the Pandemic Act. There

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Speaker 2: was a clause a lot of things got passed through,

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Speaker 2: so they tried to attach loan forgiveness to that, but

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Speaker 2: that's not what that act was for. So the act

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Speaker 2: that exists that they're going to put this program under

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Speaker 2: is the nineteen sixty five Act. So it's called the

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Speaker 2: nineteen sixty five Higher Education Act, passed by Lyndon B. Johnson.

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Speaker 2: So I have a friend shout out to Ebane. She

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Speaker 2: is a reporter for the White House, and she texted

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Speaker 2: me all the time and says, what questions do I

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Speaker 2: ask Secretary of card Dota. I said, you asked them

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Speaker 2: these questions. Do you think that you're going to put

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Speaker 2: Biden loan forgiveness again through the nineteen sixty five Higher

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Speaker 2: Education Act? He said yes. So when it came out,

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Speaker 2: that's what they're doing. This doesn't have to go through

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Speaker 2: the Supreme Court. This can just exist. So what they

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Speaker 2: did was they put a committee of about twenty people together.

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Speaker 2: They influential leaders, community members, good representation of minorities, and

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Speaker 2: they put together this parameter what I just read to you,

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Speaker 2: and this just has to now get approved. But good

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Speaker 2: news is not a proved by the Supreme Court.

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Speaker 5: So that's good.

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Speaker 2: Yeah. So what a save save the Save program. So

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Speaker 2: this is one of the best programs that I think

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Speaker 2: is going to be very helpful. And we even see

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Speaker 2: the difference with our clients and payments. So this is

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Speaker 2: the new repayment plan. It replaces the repay plan. A

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Speaker 2: lot of people got automatically placed into the Saved plan.

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Speaker 2: If you didn't get automatically placed into save plan is

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Speaker 2: because they couldn't pull your tax information. Now they're just

398
00:19:26,560 --> 00:19:29,400
Speaker 2: pulling it. So it's good and bad thing. But long

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Speaker 2: story short, this plan as of next year, because I

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Speaker 2: just checked everything again before I got here, it used

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Speaker 2: to be a ten percent repayment, it's going to go

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00:19:36,800 --> 00:19:39,280
Speaker 2: down to five percent right now, still holding a ten

403
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Speaker 2: percent repayment, but the flexibilities of it. They're now letting

404
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Speaker 2: you say, even though I'm married, I can say that

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Speaker 2: I don't have access to my spouse's information, which is

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Speaker 2: a big deal because if I have one hundred and

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Speaker 2: fifty thousand loans and we may combine two hundred thousand,

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Speaker 2: you think the whole money of the house is going

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Speaker 2: to go to this payment, and most people that's not

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Speaker 2: the case. So now they can say, which is new

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Speaker 2: than before, I cannot access my spouse information, so basically

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Speaker 2: like can you evaluate me on just my information? So

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Speaker 2: it's a big deal to help with people's pay.

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Speaker 4: So, and that's for anybody.

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Speaker 2: Yeah, that's going to be based off of income. So

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Speaker 2: the sweet spot is going to be if you make

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Speaker 2: about forty five thousand that they increase that number used

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Speaker 2: to be like if you made thirty thousand. If you

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Speaker 2: make about forty five thousand, you will have a zero

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Speaker 2: dollar payment. If you are making fifty five and most

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Speaker 2: people make about fifty five to sixty five, that's going

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Speaker 2: to allow you to have like AE hundred dollars payment.

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Speaker 2: So we're really excited about it. We see our clients

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Speaker 2: are like, are you serious, I can afford that, I

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Speaker 2: can start repayment. So we just hear the excitemental of

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Speaker 2: the phone because before they get on the phone with us,

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Speaker 2: their estimated payment is like two thousand dollars because it's

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Speaker 2: just six figure that.

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Speaker 5: Now, all these are payments that have to qualify. They

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Speaker 5: have to be part of a specific program. I know

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Speaker 5: before it was like it had to be like income

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Speaker 5: based and.

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Speaker 2: So David's income driven yep.

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Speaker 5: So yeah, same thing. So it bases on how much

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Speaker 5: you made percentage of that is what you're going to

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Speaker 5: have to pay. Yeah, okay, okay.

437
00:21:12,520 --> 00:21:14,880
Speaker 2: Quick tip because a lot of people did really well

438
00:21:14,920 --> 00:21:17,320
Speaker 2: in the pandemic financially. Maybe they had got a side

439
00:21:17,359 --> 00:21:21,440
Speaker 2: hustle side, but whatever. If that is not your case anymore,

440
00:21:22,359 --> 00:21:25,240
Speaker 2: welcome to the world. You need to submit a pay stuff.

441
00:21:25,920 --> 00:21:28,600
Speaker 2: You need to let them know there was a financial change.

442
00:21:28,800 --> 00:21:31,000
Speaker 2: You can put that it says did anything change? A

443
00:21:31,040 --> 00:21:33,640
Speaker 2: lot of people skipping and hit No, no, it did change.

444
00:21:33,760 --> 00:21:35,920
Speaker 2: You're not probably making the same money you made when

445
00:21:35,960 --> 00:21:38,960
Speaker 2: you did your taxes in the pandemic. So you should

446
00:21:39,000 --> 00:21:39,480
Speaker 2: let them know.

447
00:21:39,480 --> 00:21:41,440
Speaker 5: What you report, right for the taxes, so you.

448
00:21:41,359 --> 00:21:44,879
Speaker 2: Should submit a pay stuff. If that changes, well you

449
00:21:44,920 --> 00:21:47,240
Speaker 2: would be surprised. Like we, for example, I'm give you

450
00:21:47,280 --> 00:21:49,640
Speaker 2: a good example. We have clients that are, for example,

451
00:21:49,680 --> 00:21:52,679
Speaker 2: travel nurses. You know nurses, was you know, running it

452
00:21:52,760 --> 00:21:56,000
Speaker 2: up in the pandemic because they were needed. Now it's

453
00:21:56,080 --> 00:21:58,400
Speaker 2: kind of coming down of it, kind of normal workflow.

454
00:21:58,720 --> 00:22:00,520
Speaker 2: And then one lady says to me, she's said, girl,

455
00:22:00,920 --> 00:22:03,720
Speaker 2: she said, I made three hundred thousand. She said, this

456
00:22:03,840 --> 00:22:06,960
Speaker 2: year is looking like ninety thousand. She said, how do

457
00:22:07,040 --> 00:22:09,879
Speaker 2: I show that difference? We had this centerpay stuff.

458
00:22:09,920 --> 00:22:13,199
Speaker 5: So if that income repayment was five percent of that,

459
00:22:13,240 --> 00:22:15,920
Speaker 5: we're talking about a huge difference in payment. Yeah, yeah,

460
00:22:15,960 --> 00:22:18,040
Speaker 5: that makes sense. Yeah that's good enough.

461
00:22:18,800 --> 00:22:20,959
Speaker 4: So what about barrowers defense forgiveness?

462
00:22:21,160 --> 00:22:24,000
Speaker 2: So this program is the funniest one of them all. Like,

463
00:22:24,840 --> 00:22:27,560
Speaker 2: so the thing about this business when I first started

464
00:22:27,560 --> 00:22:29,480
Speaker 2: it not to be funny. I was like I started

465
00:22:29,520 --> 00:22:34,400
Speaker 2: business as consistent. Nothing's changing. This stuff changes every week now,

466
00:22:34,800 --> 00:22:38,679
Speaker 2: thanks fighting keeps as relevant. So Barbers Defense is one

467
00:22:38,720 --> 00:22:44,480
Speaker 2: of those programs that literally is changing almost every three

468
00:22:44,480 --> 00:22:47,119
Speaker 2: to six months. So Barber's Defensive. You went to a

469
00:22:47,119 --> 00:22:50,000
Speaker 2: school that they identified. There's about two hundred schools, as

470
00:22:50,000 --> 00:22:53,400
Speaker 2: Secretary of Cardona said, these schools were farug laning. For example,

471
00:22:53,680 --> 00:22:56,919
Speaker 2: University of Phoenix was on the list. The riders on

472
00:22:56,960 --> 00:23:00,320
Speaker 2: the list. It t tech know.

473
00:23:00,680 --> 00:23:02,440
Speaker 5: It sounds like every commercial.

474
00:23:02,560 --> 00:23:04,760
Speaker 2: Every commercial you ever watched was on the list. Now,

475
00:23:05,160 --> 00:23:07,280
Speaker 2: so if it was, it was a for profit school

476
00:23:07,320 --> 00:23:10,600
Speaker 2: with a commercial. Check the list, all right. So when

477
00:23:10,600 --> 00:23:14,000
Speaker 2: you see your school's name on the list, you're probably thinking, oh,

478
00:23:14,040 --> 00:23:17,520
Speaker 2: but I didn't go there. No, when I tell you

479
00:23:17,560 --> 00:23:20,240
Speaker 2: this July they changed the rules again. That said if

480
00:23:20,240 --> 00:23:22,960
Speaker 2: you ever attended, they're going to ask you a little

481
00:23:23,000 --> 00:23:26,960
Speaker 2: bit more questions, need a little bit more paperwork, You

482
00:23:27,080 --> 00:23:29,560
Speaker 2: fill it in, you send it off. In about a

483
00:23:29,640 --> 00:23:33,280
Speaker 2: year's time, you're probably gonna get forgiven. And with this program,

484
00:23:33,520 --> 00:23:36,360
Speaker 2: they're giving you back the money you paid on your loans.

485
00:23:36,640 --> 00:23:39,000
Speaker 2: A checking the mail too, now, I thought it was

486
00:23:39,080 --> 00:23:41,480
Speaker 2: kind of like BS, I'm not gonna lie but I

487
00:23:41,520 --> 00:23:44,679
Speaker 2: have a friend who screenshoted me his it T checks,

488
00:23:44,720 --> 00:23:47,520
Speaker 2: I mean checks, because he paid for his education there.

489
00:23:48,320 --> 00:23:49,760
Speaker 2: So it's a really great program.

490
00:23:49,840 --> 00:23:53,520
Speaker 5: So you're applying for these programs and this because most

491
00:23:53,560 --> 00:23:55,359
Speaker 5: people will say, well, I apply for it, I'm gonna

492
00:23:55,359 --> 00:23:58,520
Speaker 5: wait to see what the you know, the ruin is

493
00:23:58,800 --> 00:24:02,520
Speaker 5: they stop paying? All right, what's your thought? Oh?

494
00:24:02,600 --> 00:24:06,280
Speaker 2: Right now, we're in what's called the on ramp program.

495
00:24:06,480 --> 00:24:09,760
Speaker 2: On ramp means they just are anticipating people are not

496
00:24:09,840 --> 00:24:13,159
Speaker 2: about to pay this year, like it's the You have

497
00:24:13,359 --> 00:24:16,880
Speaker 2: until September thirtieth, twenty and twenty four to get your

498
00:24:16,880 --> 00:24:21,000
Speaker 2: life together with your student loans. October one, twenty twenty four,

499
00:24:21,119 --> 00:24:23,680
Speaker 2: they will start to report to your credit They will

500
00:24:24,440 --> 00:24:26,679
Speaker 2: you will be late, you will be going back into default.

501
00:24:26,720 --> 00:24:29,439
Speaker 2: They'll take your taxes again, not this year, coming up

502
00:24:29,480 --> 00:24:32,679
Speaker 2: with the following your twenty five. So you have a

503
00:24:32,760 --> 00:24:35,800
Speaker 2: year to figure it out. So I say this with grace.

504
00:24:35,920 --> 00:24:38,879
Speaker 2: If you need to go into forbearance, go into in

505
00:24:38,880 --> 00:24:41,000
Speaker 2: forbearance because you have this year. That's what this year

506
00:24:41,080 --> 00:24:44,159
Speaker 2: is for. However, a lot of people don't have to

507
00:24:44,160 --> 00:24:47,240
Speaker 2: put themselves into forbearance. If your lender is Mohellia in

508
00:24:47,240 --> 00:24:51,080
Speaker 2: as example, Mohelia is putting people into what's called an

509
00:24:51,080 --> 00:24:54,320
Speaker 2: administrative for bearance because they can't handle all of the

510
00:24:54,359 --> 00:24:57,960
Speaker 2: workload that's coming their way. This is new. They even

511
00:24:58,040 --> 00:25:00,320
Speaker 2: are pulling in other lenders just think of about that

512
00:25:00,680 --> 00:25:01,679
Speaker 2: to do their work.

513
00:25:02,320 --> 00:25:03,080
Speaker 5: It's a lot of people.

514
00:25:03,200 --> 00:25:06,879
Speaker 2: So eight Advantage is now processing all the consolidations for

515
00:25:07,000 --> 00:25:07,840
Speaker 2: Mohilia right now.

516
00:25:08,440 --> 00:25:12,040
Speaker 5: So for bearance means that I don't have to I'm

517
00:25:12,080 --> 00:25:15,320
Speaker 5: putting a pause on the repayment of my loans. Now.

518
00:25:15,720 --> 00:25:17,919
Speaker 5: When I was in school, and I don't know if

519
00:25:17,960 --> 00:25:20,760
Speaker 5: this might have changed for a long time, you had

520
00:25:20,760 --> 00:25:24,160
Speaker 5: six months after you graduated or completed whatever whatever school

521
00:25:24,160 --> 00:25:26,840
Speaker 5: and you had to begin paying the money back your

522
00:25:26,880 --> 00:25:29,919
Speaker 5: loan back. If not, you would go into forbearance. Are

523
00:25:29,960 --> 00:25:32,800
Speaker 5: those rules still a change, Are still the same or

524
00:25:32,800 --> 00:25:33,880
Speaker 5: have they changed over the best?

525
00:25:34,000 --> 00:25:35,359
Speaker 2: So the same. So you're talking about you were in

526
00:25:35,400 --> 00:25:39,400
Speaker 2: school deferment used very words deferment for six months months. Yeah,

527
00:25:39,440 --> 00:25:41,480
Speaker 2: and then when you was like I still can't pay,

528
00:25:41,600 --> 00:25:44,760
Speaker 2: you went into forbearance. When I'm talking about what Mohella

529
00:25:44,800 --> 00:25:47,720
Speaker 2: is doing is putting people into what's called administrator for barans,

530
00:25:47,880 --> 00:25:50,199
Speaker 2: which they cover the interest and still allow you to

531
00:25:50,200 --> 00:25:51,840
Speaker 2: get months for PSLF.

532
00:25:52,640 --> 00:25:55,920
Speaker 5: But those months, those those count toward because it's their fault.

533
00:25:55,960 --> 00:25:59,160
Speaker 2: Basically, the government is saying this is on us. When

534
00:25:59,200 --> 00:26:01,480
Speaker 2: there was a pandemic, Pauls, the government said this is

535
00:26:01,520 --> 00:26:03,760
Speaker 2: on us. So when we were in a pandemic pause,

536
00:26:04,119 --> 00:26:06,760
Speaker 2: if you had direct loans, you were in an administrative for.

537
00:26:06,760 --> 00:26:10,639
Speaker 5: Bearance during that time. So this this pandemic pause was

538
00:26:10,800 --> 00:26:11,680
Speaker 5: two and a half years.

539
00:26:11,920 --> 00:26:14,240
Speaker 2: We just started paying these two and a half years

540
00:26:14,280 --> 00:26:14,960
Speaker 2: in my life.

541
00:26:15,440 --> 00:26:18,639
Speaker 5: So talk about that because I would imagine that as

542
00:26:19,320 --> 00:26:21,879
Speaker 5: in your profession of you know, teaching people about the

543
00:26:21,920 --> 00:26:25,320
Speaker 5: importance of student loans. There are some people where you

544
00:26:25,400 --> 00:26:27,680
Speaker 5: might have suggested, hey, there's no interest on the loan

545
00:26:27,760 --> 00:26:29,280
Speaker 5: right now, this might be a good time to pay

546
00:26:29,280 --> 00:26:31,800
Speaker 5: it back. What was that two and a half period

547
00:26:31,920 --> 00:26:34,320
Speaker 5: like for you on your business?

548
00:26:35,400 --> 00:26:39,000
Speaker 2: Well, I remember when I got the news. I saw

549
00:26:39,040 --> 00:26:40,760
Speaker 2: it on TV and I had to sit down for

550
00:26:40,800 --> 00:26:42,800
Speaker 2: this one. I said no, no, put my glasses on because

551
00:26:42,800 --> 00:26:44,679
Speaker 2: I couldn't understand what was coming up on the screen.

552
00:26:45,119 --> 00:26:48,560
Speaker 2: No student loan payments until it was like March. I

553
00:26:48,600 --> 00:26:50,600
Speaker 2: think I called her first. It was like it shout

554
00:26:50,600 --> 00:26:53,800
Speaker 2: out to Denise's. So I was like, girl, it's just

555
00:26:53,800 --> 00:26:55,520
Speaker 2: like a like a thirty day thing. What you think

556
00:26:55,560 --> 00:26:58,560
Speaker 2: like sixty days because every business owner knows was in

557
00:26:58,600 --> 00:27:01,240
Speaker 2: their cushion account, like if I had to float my

558
00:27:01,240 --> 00:27:03,800
Speaker 2: employees and all of that. But when they did that

559
00:27:04,160 --> 00:27:06,639
Speaker 2: second extension for the year, I said, oh, you know,

560
00:27:06,800 --> 00:27:10,320
Speaker 2: so now what I did was and honestly, I made

561
00:27:10,320 --> 00:27:12,800
Speaker 2: a lot of money in the pandemic pause because I'm

562
00:27:12,800 --> 00:27:16,360
Speaker 2: a creative. So I said, Okay, you don't have a payment,

563
00:27:16,440 --> 00:27:18,280
Speaker 2: You're going to learn about your loans, You're going to

564
00:27:18,359 --> 00:27:21,399
Speaker 2: fix other things. So I had put out a student

565
00:27:21,440 --> 00:27:23,960
Speaker 2: loan ebook. Now that's kind of radical for people to

566
00:27:23,960 --> 00:27:25,440
Speaker 2: buy a student loon ebolo. Let's just think about that

567
00:27:25,440 --> 00:27:27,560
Speaker 2: for a second. Who wants to buy ebook around studol loans?

568
00:27:27,760 --> 00:27:29,879
Speaker 2: But what I did was I said meet me at

569
00:27:29,960 --> 00:27:32,280
Speaker 2: nine pm. And I probably am the one of the

570
00:27:32,280 --> 00:27:35,280
Speaker 2: most consistent people on Instagram. I teach every day more

571
00:27:35,320 --> 00:27:37,600
Speaker 2: than most people. I'm going to either teach you at

572
00:27:37,800 --> 00:27:40,840
Speaker 2: ten am, nine pm or eleven pm. Sometimes I do

573
00:27:40,880 --> 00:27:43,399
Speaker 2: two shows a day. So what I was doing was

574
00:27:43,480 --> 00:27:46,800
Speaker 2: I was building a community and we would have fun.

575
00:27:47,320 --> 00:27:50,600
Speaker 2: We would we started doing we would do student loan information.

576
00:27:50,680 --> 00:27:52,879
Speaker 2: First I start off like I'm a reporter. Then my

577
00:27:52,920 --> 00:27:55,560
Speaker 2: next personality came on. That's me. I would put some

578
00:27:55,600 --> 00:27:58,040
Speaker 2: glasses on, some Gucci glasses and I would turn the Susie.

579
00:27:58,040 --> 00:28:00,640
Speaker 2: I mean, it was just really fun times. But here's

580
00:28:00,680 --> 00:28:04,440
Speaker 2: what happened. It made people actually care about their loans

581
00:28:04,480 --> 00:28:08,600
Speaker 2: and their credit. And then sometimes we would do Instagram

582
00:28:08,680 --> 00:28:10,960
Speaker 2: speed dating and I said, in order to join them,

583
00:28:11,000 --> 00:28:13,119
Speaker 2: remember how you do the lives with different people, you

584
00:28:13,160 --> 00:28:15,159
Speaker 2: had to have a seven forty credit score better. I

585
00:28:15,160 --> 00:28:17,840
Speaker 2: mean it was really good times. Now you're like, well,

586
00:28:17,840 --> 00:28:20,600
Speaker 2: how did you make money? So what happened was in

587
00:28:20,640 --> 00:28:23,320
Speaker 2: that time period. I think it's because I was very

588
00:28:23,440 --> 00:28:25,800
Speaker 2: like hands on. I'm a teacher at heart, you know

589
00:28:25,840 --> 00:28:29,320
Speaker 2: that used to teach as a college professor. I would say,

590
00:28:29,400 --> 00:28:32,520
Speaker 2: meet me at nine o'clock buying friendly on Zoom, and

591
00:28:32,600 --> 00:28:35,919
Speaker 2: we would log into our student loans together. We would

592
00:28:36,000 --> 00:28:37,960
Speaker 2: look at your credit report and I'm like, did you

593
00:28:38,000 --> 00:28:40,200
Speaker 2: see this? You should do this. So it was just

594
00:28:40,280 --> 00:28:43,280
Speaker 2: a lot of teaching happening. But I had to shift

595
00:28:43,280 --> 00:28:46,360
Speaker 2: my mentality as a business owner because he was not

596
00:28:46,440 --> 00:28:49,280
Speaker 2: going to happen. I wasn't going to close my business

597
00:28:49,560 --> 00:28:52,280
Speaker 2: because of something that I perceived to be as temporary.

598
00:28:53,560 --> 00:28:56,240
Speaker 2: Now when we went into the next year, I was like, oh,

599
00:28:56,640 --> 00:28:58,880
Speaker 2: now we don't know when these loans are coming back.

600
00:28:59,520 --> 00:29:01,640
Speaker 2: That's when I'm not gonna lie. I think I did

601
00:29:01,720 --> 00:29:04,360
Speaker 2: it a little nervous, but I also was very wise

602
00:29:04,400 --> 00:29:06,880
Speaker 2: with the money I had made. So when I made

603
00:29:06,880 --> 00:29:08,920
Speaker 2: money off of digital products, and I think I was

604
00:29:09,560 --> 00:29:12,440
Speaker 2: one of the earlier people doing digital products before everybody

605
00:29:12,440 --> 00:29:14,960
Speaker 2: started doing it. Shout out to my friend Nee Maya.

606
00:29:15,120 --> 00:29:17,240
Speaker 2: He called me, like, brew up my phone. You gotta

607
00:29:17,240 --> 00:29:19,640
Speaker 2: have good friends that blow up your phone. And he

608
00:29:19,720 --> 00:29:21,480
Speaker 2: just said to me, he was like, you need a

609
00:29:21,480 --> 00:29:24,240
Speaker 2: digital product out of everybody. So when it came out,

610
00:29:24,280 --> 00:29:27,719
Speaker 2: it did really well. I grabbed a couple of properties

611
00:29:28,080 --> 00:29:30,680
Speaker 2: and I brought them in cash, and what I did

612
00:29:30,880 --> 00:29:33,600
Speaker 2: was I renovated them and I did the Airbnb wave.

613
00:29:33,920 --> 00:29:36,800
Speaker 2: Now we knowbing is or is it what it is now?

614
00:29:37,120 --> 00:29:39,480
Speaker 2: At the time, people were looking for places to have

615
00:29:39,600 --> 00:29:43,680
Speaker 2: like a little escape during the pandemic, So me personally,

616
00:29:43,760 --> 00:29:45,280
Speaker 2: I had to step out of the shelve of the

617
00:29:45,280 --> 00:29:48,320
Speaker 2: studalone doctor so that things could be sustainable. And I

618
00:29:48,360 --> 00:29:52,200
Speaker 2: wanted to make sure, like my team has been with

619
00:29:52,240 --> 00:29:55,600
Speaker 2: me for over five years. At this point, I didn't

620
00:29:55,600 --> 00:29:57,800
Speaker 2: want to let anybody go. I don't want to go

621
00:29:57,840 --> 00:30:01,160
Speaker 2: look for good people again. So to send some floating

622
00:30:01,200 --> 00:30:04,120
Speaker 2: money we call it or just appreciate you money. I

623
00:30:04,160 --> 00:30:06,520
Speaker 2: needed to be able to generate that otherwise because the

624
00:30:06,560 --> 00:30:09,520
Speaker 2: student loan doctor business itself wasn't doing great in the

625
00:30:09,600 --> 00:30:11,840
Speaker 2: last let's say a year and a half, but my

626
00:30:12,280 --> 00:30:13,280
Speaker 2: endeavors were doing good.

627
00:30:13,360 --> 00:30:17,280
Speaker 5: So when you see October first, twenty twenty three.

628
00:30:18,120 --> 00:30:20,000
Speaker 2: You know this is bad to say this, but I

629
00:30:20,080 --> 00:30:22,560
Speaker 2: was so excited when it was firm whenever payment. That

630
00:30:22,720 --> 00:30:25,280
Speaker 2: is so bad. I'm sorry, y'all. Like when I tell you,

631
00:30:26,120 --> 00:30:27,920
Speaker 2: I was like, wait mate, and you know what, I

632
00:30:28,000 --> 00:30:31,080
Speaker 2: actually missed our clients and they missed us. So we

633
00:30:31,240 --> 00:30:34,040
Speaker 2: are like probably three weeks booked out at this point,

634
00:30:34,080 --> 00:30:35,640
Speaker 2: which is a good average. We don't want to be

635
00:30:35,680 --> 00:30:38,160
Speaker 2: that far booked out. Shout out to my amazing team.

636
00:30:38,240 --> 00:30:40,160
Speaker 2: I'm like, because you know, they work part time. Most

637
00:30:40,200 --> 00:30:42,240
Speaker 2: of them work part time, some work full time. The

638
00:30:42,280 --> 00:30:44,240
Speaker 2: ones that work part time, I'm like, do you got pt?

639
00:30:44,400 --> 00:30:47,280
Speaker 2: It's your full time to handle this calendar of calls.

640
00:30:47,680 --> 00:30:50,160
Speaker 2: So it's been really good to be so received back

641
00:30:50,960 --> 00:30:53,200
Speaker 2: I've even started a training program where I've been training

642
00:30:53,240 --> 00:30:56,800
Speaker 2: other experts because the reality is this is a trillion

643
00:30:56,800 --> 00:31:01,120
Speaker 2: dollar problem and I don't envision myself running a call

644
00:31:01,200 --> 00:31:04,040
Speaker 2: center of staff. I don't want that. That is not

645
00:31:04,200 --> 00:31:06,880
Speaker 2: my sweet side. Everybody knows what their sweet spot is.

646
00:31:06,920 --> 00:31:08,960
Speaker 2: I'm a creative, but I don't want to be a

647
00:31:09,120 --> 00:31:10,160
Speaker 2: manager in that sense.

648
00:31:10,480 --> 00:31:13,120
Speaker 4: Let me ask you this, I want to do a loanside.

649
00:31:13,400 --> 00:31:14,760
Speaker 4: What's the on ramp program?

650
00:31:15,120 --> 00:31:17,320
Speaker 2: So we talked about the on ramp program is the

651
00:31:17,360 --> 00:31:20,040
Speaker 2: one that everybody is technically in, whether you exit mean

652
00:31:20,080 --> 00:31:21,880
Speaker 2: it or not. You don't got a call for this guys.

653
00:31:22,160 --> 00:31:24,480
Speaker 2: If you wish just to say next month, I can't

654
00:31:24,480 --> 00:31:26,400
Speaker 2: afford this payment, I'm trying to figure out how now

655
00:31:26,400 --> 00:31:28,840
Speaker 2: to do. You don't have to call them and tell

656
00:31:28,880 --> 00:31:32,920
Speaker 2: them the payment just will add up. Now, some people

657
00:31:33,000 --> 00:31:35,560
Speaker 2: can go into forbearance if you want to that you're

658
00:31:35,600 --> 00:31:38,200
Speaker 2: not getting behind, but you're not going to be penalized.

659
00:31:38,640 --> 00:31:41,920
Speaker 4: Well, how do interest rates work on through the loans,

660
00:31:41,920 --> 00:31:42,800
Speaker 4: because I know it's.

661
00:31:42,640 --> 00:31:44,320
Speaker 2: Like they're regulated yep.

662
00:31:44,680 --> 00:31:47,400
Speaker 4: Yeah, but there's different right if it's just federal to

663
00:31:47,560 --> 00:31:49,959
Speaker 4: a loan as opposed to private private.

664
00:31:50,120 --> 00:31:53,840
Speaker 2: Okay, So Federal interest rates are regulated and are announced

665
00:31:53,880 --> 00:32:00,000
Speaker 2: every July. Private loans they're not regulated, and they can change.

666
00:32:00,320 --> 00:32:01,520
Speaker 2: It could be whimsic.

667
00:32:01,120 --> 00:32:03,600
Speaker 4: Cool, thanks your incommon stuff.

668
00:32:03,920 --> 00:32:05,800
Speaker 2: No, the income you could be your credit. Let's say

669
00:32:05,800 --> 00:32:08,640
Speaker 2: you missed a payment on your Macy's card. Your private

670
00:32:08,680 --> 00:32:10,160
Speaker 2: loan could change your interest rates.

671
00:32:11,040 --> 00:32:13,400
Speaker 4: But like for people that's going into college or parents,

672
00:32:13,920 --> 00:32:16,040
Speaker 4: what are the best practice is for them to ask

673
00:32:16,320 --> 00:32:18,680
Speaker 4: private loans, don't apply for private loans.

674
00:32:18,760 --> 00:32:20,840
Speaker 2: So I have a philosophy and people don't like it,

675
00:32:20,880 --> 00:32:23,040
Speaker 2: but I'll say it like, don't go to a school

676
00:32:23,120 --> 00:32:25,800
Speaker 2: you can't pay for you can't afford. And what I

677
00:32:25,840 --> 00:32:27,880
Speaker 2: mean by that is it's like, Okay, if it's in

678
00:32:27,920 --> 00:32:32,520
Speaker 2: your plan to use a federal loan, okay, I'm with it,

679
00:32:32,560 --> 00:32:36,080
Speaker 2: because there are parameters to keep you safe financially. But

680
00:32:36,120 --> 00:32:38,840
Speaker 2: when we start talking about going to institutions that require

681
00:32:38,920 --> 00:32:41,880
Speaker 2: you to use a private loan, that may not be

682
00:32:42,000 --> 00:32:45,680
Speaker 2: the best choice because that private loan is forever.

683
00:32:45,880 --> 00:32:48,720
Speaker 4: So is there any what's the difference between a federal

684
00:32:48,760 --> 00:32:51,160
Speaker 4: and private loan? Federal loan just go there. And is

685
00:32:51,200 --> 00:32:53,840
Speaker 4: there any instance where a private loan is actually more

686
00:32:53,840 --> 00:32:55,280
Speaker 4: beneficial than a federal loan.

687
00:32:55,120 --> 00:32:57,920
Speaker 2: I haven't seen it. So federal loans are regulated by

688
00:32:57,920 --> 00:33:00,440
Speaker 2: the government. So this is where you have a certain

689
00:33:00,480 --> 00:33:03,760
Speaker 2: amount that you can borrow every year, even through grad school,

690
00:33:04,160 --> 00:33:06,760
Speaker 2: even through getting like a doctoral program. But this is

691
00:33:06,800 --> 00:33:09,160
Speaker 2: to protect you. So for example, when the pandemic had

692
00:33:09,200 --> 00:33:11,000
Speaker 2: been we would have never thought we would have had

693
00:33:11,000 --> 00:33:14,160
Speaker 2: a pandemic. Right, the government says, we got your interests,

694
00:33:14,240 --> 00:33:17,320
Speaker 2: we've got your payment. This is on us. Those that

695
00:33:17,400 --> 00:33:20,240
Speaker 2: had private loans, they didn't get a pause. That was

696
00:33:20,360 --> 00:33:22,120
Speaker 2: and it was really hard for us to hear those

697
00:33:22,160 --> 00:33:25,320
Speaker 2: calls and those cries because there is nothing you can

698
00:33:25,360 --> 00:33:28,000
Speaker 2: do when you have a private loan. In that sense,

699
00:33:28,040 --> 00:33:28,960
Speaker 2: there's no palls.

700
00:33:29,320 --> 00:33:32,880
Speaker 5: So a private loan ernerds, what's up. You ever walk

701
00:33:32,880 --> 00:33:35,960
Speaker 5: into a small business and everything just works, like the

702
00:33:36,040 --> 00:33:40,120
Speaker 5: checkout is fast, or seats are digital, tipping is a breeze,

703
00:33:40,480 --> 00:33:42,600
Speaker 5: and you're out the door before the line even builds.

704
00:33:42,920 --> 00:33:47,200
Speaker 5: Odds are they're using Square. We love supporting businesses that

705
00:33:47,280 --> 00:33:49,920
Speaker 5: run on Square because it just feels seamless. Whether it's

706
00:33:49,960 --> 00:33:53,000
Speaker 5: a local coffee shop, a vendor at a pop up market,

707
00:33:53,160 --> 00:33:56,000
Speaker 5: or even one of our merch partners. Square makes it

708
00:33:56,160 --> 00:33:59,520
Speaker 5: easy for them to take payments, manage inventory, and run

709
00:33:59,560 --> 00:34:03,560
Speaker 5: their business with confidence, all from one simple system. If

710
00:34:03,600 --> 00:34:06,440
Speaker 5: you're a business owner or even just thinking about launching

711
00:34:06,480 --> 00:34:09,480
Speaker 5: something soon, Square is hands down one of the best

712
00:34:09,520 --> 00:34:12,640
Speaker 5: tools out there to help you start, run, and grow.

713
00:34:12,920 --> 00:34:15,960
Speaker 5: It's not just about payments, it's about giving you time

714
00:34:16,040 --> 00:34:18,959
Speaker 5: back so you can focus on what matters most ready.

715
00:34:19,000 --> 00:34:22,360
Speaker 5: To see how Square can transform your business, visit Square

716
00:34:22,440 --> 00:34:26,960
Speaker 5: dot com backslash, go backslash eyl to learn more that

717
00:34:27,160 --> 00:34:32,640
Speaker 5: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate,

718
00:34:32,760 --> 00:34:35,120
Speaker 5: Let Square handle the back end so you can keep

719
00:34:35,160 --> 00:34:41,239
Speaker 5: pushing your vision forward. This episode is brought to you

720
00:34:41,280 --> 00:34:43,560
Speaker 5: by P and C Bank. A lot of people think

721
00:34:43,600 --> 00:34:47,480
Speaker 5: podcasts about work are boring, and sure they definitely can be,

722
00:34:48,000 --> 00:34:51,240
Speaker 5: but understanding a professionals routine shows us how they achieve

723
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Speaker 5: their success little by little, day after day. It's like

724
00:34:55,600 --> 00:34:58,360
Speaker 5: banking with P and C Bank. It might seem boring

725
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726
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Speaker 5: but keeping your money boring is what helps you live

727
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Speaker 5: or more happily fulfilled life. P and C Bank brilliantly

728
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Speaker 5: boring since eighteen sixty five. Brilliantly Boring since eighteen sixty

729
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730
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Speaker 5: P and C Bank National Association Member FDIC.

731
00:35:21,840 --> 00:35:25,479
Speaker 1: An illegal alien from Guatemala charged with raping a child

732
00:35:25,560 --> 00:35:29,360
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

733
00:35:29,600 --> 00:35:33,719
Speaker 1: accused of murdering a Texas man of Venezuelan charged with

734
00:35:33,800 --> 00:35:37,680
Speaker 1: filming and selling child pornography in Michigan. These are just

735
00:35:37,800 --> 00:35:41,560
Speaker 1: some of the heinous migrant criminals caught because of President

736
00:35:41,600 --> 00:35:42,040
Speaker 1: Donald J.

737
00:35:42,120 --> 00:35:43,080
Speaker 2: Trump's leadership.

738
00:35:43,360 --> 00:35:46,960
Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.

739
00:35:47,280 --> 00:35:51,080
Speaker 1: Under President Trump, attempted illegal border crossings are at the

740
00:35:51,120 --> 00:35:55,880
Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.

741
00:35:55,440 --> 00:35:56,280
Speaker 3: Have been arrested.

742
00:35:56,560 --> 00:36:00,439
Speaker 1: If you are here illegally, your next you will find

743
00:36:00,480 --> 00:36:04,560
Speaker 1: nearly one thousand dollars a day, imprisoned and deported. You

744
00:36:04,640 --> 00:36:08,200
Speaker 1: will never return. But if you register using our CBP

745
00:36:08,360 --> 00:36:11,080
Speaker 1: home app and leave now, you could be allowed to

746
00:36:11,120 --> 00:36:13,160
Speaker 1: return legally. Do what's right.

747
00:36:13,719 --> 00:36:14,560
Speaker 2: Leave now.

748
00:36:14,920 --> 00:36:19,719
Speaker 1: Under President Trump, America's laws border and families will be protected.

749
00:36:19,800 --> 00:36:21,960
Speaker 3: Sponsored by the United States Department of Homeland Security.

750
00:36:22,040 --> 00:36:25,279
Speaker 2: Oh, it's going to be beneficial if you have to

751
00:36:25,320 --> 00:36:27,520
Speaker 2: close the gap. And I just have to say this,

752
00:36:27,600 --> 00:36:30,480
Speaker 2: like if you have to go to that institution, because

753
00:36:30,520 --> 00:36:33,040
Speaker 2: a community college or a state college is not going

754
00:36:33,120 --> 00:36:35,480
Speaker 2: to calls for you non tiense o't intend to use

755
00:36:35,520 --> 00:36:38,920
Speaker 2: a private loan if you want to go to an

756
00:36:39,120 --> 00:36:42,080
Speaker 2: Ivy League school, if you want to go to an

757
00:36:42,200 --> 00:36:45,520
Speaker 2: HBCU and there's not a scholarship present, yeah, a private

758
00:36:45,560 --> 00:36:46,319
Speaker 2: loan closer to gap.

759
00:36:46,400 --> 00:36:48,319
Speaker 5: Yeah. So because a lot of I mean even a

760
00:36:48,320 --> 00:36:51,480
Speaker 5: lot of the Ivy League schools, the funding from the

761
00:36:51,480 --> 00:36:54,560
Speaker 5: government is very minimal. So even I mean at some

762
00:36:54,600 --> 00:36:57,239
Speaker 5: of the state schools. Because when we talk about affordability now,

763
00:36:57,920 --> 00:37:01,080
Speaker 5: because it's almost like that is the only object, right,

764
00:37:01,080 --> 00:37:03,359
Speaker 5: Because when a person fills out the Fasta, let's sit,

765
00:37:03,400 --> 00:37:05,239
Speaker 5: theyre a middle class family and you know they bring

766
00:37:05,239 --> 00:37:06,240
Speaker 5: in one hundred and fifty thousand.

767
00:37:06,320 --> 00:37:08,320
Speaker 2: We call it the sticky middle exactly.

768
00:37:08,400 --> 00:37:11,279
Speaker 5: So people who parents are in that middle class, they

769
00:37:11,320 --> 00:37:14,239
Speaker 5: fill out the Fasta right, because in order to even

770
00:37:14,239 --> 00:37:16,120
Speaker 5: get the student loan right, you have to fill that

771
00:37:16,160 --> 00:37:18,680
Speaker 5: out first. They'll tell you they're giving you nine hundred

772
00:37:18,719 --> 00:37:21,600
Speaker 5: dollars a semester, but the tuition is eight thousand or

773
00:37:21,960 --> 00:37:25,520
Speaker 5: fifteen thousand, a semester. There's a gap there, and so

774
00:37:25,600 --> 00:37:27,200
Speaker 5: this is when now it's like, if I want to

775
00:37:27,239 --> 00:37:29,640
Speaker 5: go to school, the options are I got to come

776
00:37:29,680 --> 00:37:32,520
Speaker 5: up with this money or take out private loans. And

777
00:37:32,600 --> 00:37:35,880
Speaker 5: so is your suggestion all right? Maybe if it's fifteen thousand,

778
00:37:36,000 --> 00:37:37,000
Speaker 5: this isn't the place for me.

779
00:37:39,239 --> 00:37:43,279
Speaker 2: Yeah, the unpopular opinion. And we'll see how these comments go.

780
00:37:43,480 --> 00:37:45,840
Speaker 2: I'm going to stand doing don't go, because see, you

781
00:37:45,920 --> 00:37:50,000
Speaker 2: got to remember, we're taking calls every day from people

782
00:37:50,000 --> 00:37:54,640
Speaker 2: who are crying over decisions that they made ten twenty

783
00:37:54,719 --> 00:37:57,920
Speaker 2: years ago that weren't wise. We're taught like you should

784
00:37:57,920 --> 00:37:59,640
Speaker 2: hear how these parents are talking about their kids like

785
00:37:59,680 --> 00:38:01,799
Speaker 2: you can hear. Don't go into another room. Or let's

786
00:38:01,800 --> 00:38:04,160
Speaker 2: say the kids are grown now and she ain't even

787
00:38:04,239 --> 00:38:07,759
Speaker 2: finished and now she want to be a bartender. And

788
00:38:08,360 --> 00:38:11,680
Speaker 2: so now even parent plus zones are like the bane

789
00:38:11,760 --> 00:38:14,480
Speaker 2: of our existence because it's like the worst federal loans

790
00:38:14,600 --> 00:38:18,200
Speaker 2: possible solus. So parent plus loons is when a parent

791
00:38:18,239 --> 00:38:20,960
Speaker 2: gets involved and takes out money on behalf of their child,

792
00:38:21,400 --> 00:38:24,479
Speaker 2: but the interest rate is eight percent and they only

793
00:38:24,520 --> 00:38:27,120
Speaker 2: have one income driven repayment plan instead of it being

794
00:38:27,160 --> 00:38:29,239
Speaker 2: like a five percent margin like we talked about, it's

795
00:38:29,280 --> 00:38:33,440
Speaker 2: twenty percent. It's just the worst plan. It's literally like

796
00:38:33,480 --> 00:38:37,080
Speaker 2: a private loan. Again, it's just protected and things of

797
00:38:37,120 --> 00:38:41,759
Speaker 2: like a pandemic. Right, But to hear the calls that

798
00:38:41,800 --> 00:38:45,279
Speaker 2: we take like somebody, this is true story. Oh but

799
00:38:45,320 --> 00:38:48,479
Speaker 2: I was so happy he just got forgiven. He had

800
00:38:48,960 --> 00:38:52,760
Speaker 2: three hundred thousand and parent plus loans. He has three

801
00:38:52,880 --> 00:38:57,280
Speaker 2: kids that went to Ivy League educations. He's a doctor,

802
00:38:57,680 --> 00:38:59,640
Speaker 2: so he thought that I can do it because I'm

803
00:38:59,680 --> 00:39:02,640
Speaker 2: a doctor. Look, they might want to be doctors, right,

804
00:39:03,239 --> 00:39:07,000
Speaker 2: but the bill was on him. So you know me,

805
00:39:07,400 --> 00:39:09,359
Speaker 2: I was like, well, are they doctors? Because these are

806
00:39:09,360 --> 00:39:12,080
Speaker 2: older that's why he got them forgiven. He was like no,

807
00:39:12,719 --> 00:39:15,400
Speaker 2: I'm like what do they do? And then he was

808
00:39:15,480 --> 00:39:17,640
Speaker 2: like you don't want to know. One is only making

809
00:39:17,640 --> 00:39:20,240
Speaker 2: thirty thousand year because he's the numbers guy. He's making

810
00:39:21,080 --> 00:39:25,040
Speaker 2: three hundred and fifty thousand a year. He owes three

811
00:39:25,120 --> 00:39:27,000
Speaker 2: hundred thousand. I think he had like fifty thousand is old,

812
00:39:27,040 --> 00:39:29,279
Speaker 2: so let's say three fifty. But his kids are making

813
00:39:29,360 --> 00:39:32,360
Speaker 2: less than one hundred thousand. This was not a good investment.

814
00:39:32,719 --> 00:39:35,400
Speaker 2: But we can't say to our kids, you failed me.

815
00:39:35,880 --> 00:39:38,319
Speaker 2: You know, like he can change your minds.

816
00:39:39,160 --> 00:39:41,600
Speaker 5: My parents had a parent plus loan. Thankfully it wasn't

817
00:39:41,800 --> 00:39:44,480
Speaker 5: all right, Yeah, they got I mean, so the first

818
00:39:44,520 --> 00:39:47,680
Speaker 5: two years I went to school again, fast Ford was

819
00:39:47,719 --> 00:39:50,080
Speaker 5: like nine hundred dollars and there was that gap. So

820
00:39:50,160 --> 00:39:52,359
Speaker 5: rather than trying to take a private loan, we did

821
00:39:52,360 --> 00:39:54,520
Speaker 5: the parent plus loan and it kind of eased the gap.

822
00:39:54,800 --> 00:39:56,560
Speaker 5: But then the final two years it was like I

823
00:39:56,560 --> 00:39:58,160
Speaker 5: had to do in private because I didn't want to

824
00:39:58,160 --> 00:40:01,000
Speaker 5: put more debt on them. That was I've always been

825
00:40:01,000 --> 00:40:04,359
Speaker 5: thinking about, you know, my family. Yeah, and so but again,

826
00:40:04,440 --> 00:40:07,680
Speaker 5: those interest rates they climb and when you do private,

827
00:40:07,800 --> 00:40:09,680
Speaker 5: like you said, it could be anything. It could be

828
00:40:09,800 --> 00:40:13,560
Speaker 5: one thing you didn't pay, like you said, your Macy's card.

829
00:40:13,880 --> 00:40:15,920
Speaker 5: And now the interest rate that started at five percent

830
00:40:16,239 --> 00:40:16,920
Speaker 5: go to like eleven.

831
00:40:16,960 --> 00:40:19,040
Speaker 2: For now, I've seen somebody go from nine percent to

832
00:40:19,120 --> 00:40:20,640
Speaker 2: nineteen point nine, not much of a difference.

833
00:40:20,680 --> 00:40:23,200
Speaker 5: In me, it's crazy. It's crazy. So I mean for

834
00:40:23,760 --> 00:40:27,600
Speaker 5: young adults who are sixteen, seventeen, eighteen, well seventeen eighteen

835
00:40:27,719 --> 00:40:30,040
Speaker 5: about to go to college, and I know it doesn't

836
00:40:30,080 --> 00:40:35,120
Speaker 5: sound sexy, but community college probably the safest and most

837
00:40:35,200 --> 00:40:38,480
Speaker 5: financially I'm okay, colleges, stay colleges.

838
00:40:38,560 --> 00:40:40,360
Speaker 2: I'm okay for you to go where you want to

839
00:40:40,440 --> 00:40:42,799
Speaker 2: go if somebody else can help pay in terms of

840
00:40:42,800 --> 00:40:45,839
Speaker 2: a scholarship. And then the other thing is I think

841
00:40:45,840 --> 00:40:47,719
Speaker 2: this is where parents and those that are going to

842
00:40:47,760 --> 00:40:50,400
Speaker 2: be parents that are watching this show have to understand

843
00:40:50,400 --> 00:40:53,560
Speaker 2: that there is still an accountability there. Like, for example,

844
00:40:53,920 --> 00:40:56,520
Speaker 2: what does scholarship Sunday look like at your house? If

845
00:40:56,520 --> 00:40:59,600
Speaker 2: your child is in high school, you're probably like, well,

846
00:40:59,600 --> 00:41:02,239
Speaker 2: we don't do scholarships Sunday. We want to start so,

847
00:41:02,360 --> 00:41:04,600
Speaker 2: meaning you have to sit down with your child and say,

848
00:41:05,000 --> 00:41:07,880
Speaker 2: in junior year, not really senior, more so junior year,

849
00:41:08,160 --> 00:41:11,239
Speaker 2: what scholarships are we thinking about applying for? Like did

850
00:41:11,239 --> 00:41:12,600
Speaker 2: you did you write that? Let's say, can I read

851
00:41:12,640 --> 00:41:15,440
Speaker 2: it for you? Because if we don't push our children

852
00:41:15,520 --> 00:41:17,560
Speaker 2: to apply and we're not in that as a partner

853
00:41:17,600 --> 00:41:21,320
Speaker 2: with them, it will fall back on you as mom.

854
00:41:21,200 --> 00:41:22,840
Speaker 5: Or dad or take them to the park.

855
00:41:22,840 --> 00:41:24,760
Speaker 2: And the thing that we see that we're most.

856
00:41:24,640 --> 00:41:27,719
Speaker 5: Get a wicked jump shot, right, child had.

857
00:41:27,600 --> 00:41:30,879
Speaker 2: No skills like that? Then that hopefully they're academic. Yeah, right,

858
00:41:30,960 --> 00:41:32,680
Speaker 2: Like like for example, I knew I wasn't gonna get

859
00:41:32,719 --> 00:41:34,600
Speaker 2: no sports scholarship. That's you know, we're not going to

860
00:41:34,680 --> 00:41:39,200
Speaker 2: do that, but I'm smart. Okay. So my mom got

861
00:41:39,280 --> 00:41:42,040
Speaker 2: really really sick my junior year, like she almost died.

862
00:41:42,640 --> 00:41:44,840
Speaker 2: So the plan, we had a plan. The plan was

863
00:41:44,920 --> 00:41:46,480
Speaker 2: she was making at that time. It's just me and

864
00:41:46,520 --> 00:41:49,360
Speaker 2: hermone child about sixty five thousand a year back in

865
00:41:49,360 --> 00:41:52,640
Speaker 2: the two thousands. That's pretty okay. She's she was going

866
00:41:52,680 --> 00:41:54,960
Speaker 2: to send me to a state college. And her plan

867
00:41:55,120 --> 00:41:57,240
Speaker 2: was she was going to make payments for the difference

868
00:41:57,280 --> 00:41:59,719
Speaker 2: of whatever I didn't even receive from pastvor right, that

869
00:41:59,800 --> 00:42:02,399
Speaker 2: was we had a plan. Well, when she got sick

870
00:42:02,440 --> 00:42:04,319
Speaker 2: and lost her hearing, she had to retire early as

871
00:42:04,360 --> 00:42:07,520
Speaker 2: a teacher. The plan is now going. So I was like,

872
00:42:07,560 --> 00:42:09,440
Speaker 2: but the plan ain't here to stay in Philly. So

873
00:42:09,680 --> 00:42:13,359
Speaker 2: I had to do what apply for every scholarship known

874
00:42:13,400 --> 00:42:16,120
Speaker 2: to men. I can remember the day I knocked on

875
00:42:16,160 --> 00:42:19,279
Speaker 2: my principal's door and I was like, whatever scholarships I

876
00:42:19,280 --> 00:42:21,920
Speaker 2: can be considered for, I need to be considered. They

877
00:42:21,920 --> 00:42:23,279
Speaker 2: all knew what was happening with my mom. I went

878
00:42:23,320 --> 00:42:25,719
Speaker 2: to a small high school, so on graduation day I

879
00:42:25,840 --> 00:42:29,799
Speaker 2: left with seventeen thousand in scholarships. When I got to school.

880
00:42:30,239 --> 00:42:32,880
Speaker 2: It didn't stop. Somebody still got paid for this. I

881
00:42:33,000 --> 00:42:35,399
Speaker 2: knocked on every door there was before websites, and I'm

882
00:42:35,400 --> 00:42:37,520
Speaker 2: not that old, but I just knew. I think people

883
00:42:37,600 --> 00:42:41,640
Speaker 2: know you better every dean's story. I'm not making this up.

884
00:42:41,760 --> 00:42:44,360
Speaker 2: Had my sneakers on that day and I wind up.

885
00:42:44,360 --> 00:42:46,239
Speaker 2: By the end of the day, I was able to

886
00:42:46,280 --> 00:42:48,640
Speaker 2: apply for a full ride. So I got that. Oh

887
00:42:48,640 --> 00:42:51,320
Speaker 2: but don't stop there because you need pocket money. Remember

888
00:42:51,400 --> 00:42:53,640
Speaker 2: my mom is say, I'm not working, she's deaf. I

889
00:42:53,640 --> 00:42:56,799
Speaker 2: gotta send money home now because I'm a responsible college dudent.

890
00:42:57,320 --> 00:42:59,320
Speaker 2: Now I got to get the scholarship for the books.

891
00:43:00,000 --> 00:43:01,759
Speaker 2: It was a flyer that said, tell us about a

892
00:43:01,760 --> 00:43:04,160
Speaker 2: traumatic experience you've overcome to go to college. I've got

893
00:43:04,200 --> 00:43:06,520
Speaker 2: several off of Philly. So I wrote that up and

894
00:43:06,640 --> 00:43:09,239
Speaker 2: set that in. I got that to fifty. Like when

895
00:43:09,239 --> 00:43:11,640
Speaker 2: I tell you, if you talk too loud about a scholarship,

896
00:43:11,680 --> 00:43:14,600
Speaker 2: I probably took your scholarship like I was. I had

897
00:43:14,640 --> 00:43:18,319
Speaker 2: to graduate. So that and so when so when I

898
00:43:18,440 --> 00:43:20,839
Speaker 2: meet students and parents that I don't have that dog

899
00:43:20,960 --> 00:43:23,560
Speaker 2: or that understanding, I'm like, you gotta have some money

900
00:43:23,560 --> 00:43:26,239
Speaker 2: tuck aside because it went from my mind with a

901
00:43:26,280 --> 00:43:29,080
Speaker 2: game plan to us having to rely on my grandmother,

902
00:43:29,160 --> 00:43:32,120
Speaker 2: who was a retired school teacher. Her retirement probably paid

903
00:43:32,160 --> 00:43:34,520
Speaker 2: forty three people on forty k. It's not gonna put

904
00:43:34,520 --> 00:43:38,239
Speaker 2: somebody through college, even after that little loan they give you.

905
00:43:38,360 --> 00:43:41,480
Speaker 2: My mommy had no credit. Again, she's not working. So

906
00:43:42,239 --> 00:43:44,520
Speaker 2: it was just so much. I remember that experience, so

907
00:43:44,600 --> 00:43:46,560
Speaker 2: when I talked to students, like if I go to

908
00:43:46,640 --> 00:43:48,960
Speaker 2: a high school, for example, or I'm speaking to a

909
00:43:49,000 --> 00:43:51,560
Speaker 2: freshman class in college, I'm gonna give you my story

910
00:43:51,640 --> 00:43:55,560
Speaker 2: because something has to change, somebody or something has to

911
00:43:55,600 --> 00:43:57,840
Speaker 2: pay for this experience. If you wanted to be whatever

912
00:43:57,840 --> 00:44:00,959
Speaker 2: you wanted to be, that's you're alone that you're about

913
00:44:00,960 --> 00:44:03,319
Speaker 2: to leave with. Life in the twenties and thirties aren't

914
00:44:03,320 --> 00:44:05,160
Speaker 2: going to be as funny as you think. So because

915
00:44:05,200 --> 00:44:07,640
Speaker 2: when it's time to hone by, we didn't even talk

916
00:44:07,680 --> 00:44:12,319
Speaker 2: about dating marriages. Like when it's time to sit at

917
00:44:12,320 --> 00:44:15,600
Speaker 2: the table, let's say, I'm like like, hey, with Shan,

918
00:44:15,800 --> 00:44:17,920
Speaker 2: you know I'm interested with Shad. Got to you this

919
00:44:18,040 --> 00:44:20,680
Speaker 2: is good with Sean. With Shy, you didn't do it

920
00:44:20,719 --> 00:44:22,640
Speaker 2: all this episode. Can you let the people know why

921
00:44:22,680 --> 00:44:22,920
Speaker 2: you're so.

922
00:44:23,040 --> 00:44:27,360
Speaker 4: Quiet about loans. Yeah, no, I didn't have to loans.

923
00:44:27,960 --> 00:44:29,520
Speaker 2: So if you guys ever go see the first one.

924
00:44:29,600 --> 00:44:34,480
Speaker 2: He was like sophomore year scholarship. All right, but let's

925
00:44:34,560 --> 00:44:38,440
Speaker 2: just say we're about to date, right, And I know

926
00:44:39,000 --> 00:44:41,040
Speaker 2: that you were probably asked or I don't even know

927
00:44:41,080 --> 00:44:43,719
Speaker 2: if you ask people this. But at some point the

928
00:44:43,880 --> 00:44:47,640
Speaker 2: financial analysts and conservative when you you will want to

929
00:44:47,719 --> 00:44:51,200
Speaker 2: have a conversation about debt. But if I'm sent across

930
00:44:51,239 --> 00:44:53,359
Speaker 2: from you, no, you got a life story, because it's

931
00:44:53,360 --> 00:44:56,319
Speaker 2: gonna even better if you jibing. But like, what if

932
00:44:56,360 --> 00:44:59,040
Speaker 2: you wanted to date a girl that had three hundred

933
00:44:59,120 --> 00:45:01,480
Speaker 2: thousand loans? No, let's just go there for a second.

934
00:45:01,280 --> 00:45:03,080
Speaker 4: So talk about your artist.

935
00:45:03,320 --> 00:45:05,880
Speaker 5: Let's go, let's go there, let's go there that.

936
00:45:06,000 --> 00:45:07,719
Speaker 4: If I'm thinking somebody at two hund thousand and loans,

937
00:45:07,760 --> 00:45:08,800
Speaker 4: how does that impact me?

938
00:45:08,960 --> 00:45:09,879
Speaker 2: Are you dating them? Yes?

939
00:45:09,960 --> 00:45:10,080
Speaker 5: Or no?

940
00:45:10,280 --> 00:45:12,640
Speaker 2: Now this is what you're saying.

941
00:45:12,719 --> 00:45:14,160
Speaker 5: Are you going to date them? If you know that?

942
00:45:14,320 --> 00:45:18,239
Speaker 4: Well, I'm well, I'm asking is that gonna have any

943
00:45:18,280 --> 00:45:19,160
Speaker 4: impact on my life?

944
00:45:19,840 --> 00:45:20,040
Speaker 3: Is it?

945
00:45:21,760 --> 00:45:23,239
Speaker 4: I don't think so? Probably not.

946
00:45:23,560 --> 00:45:26,000
Speaker 2: But what happens because my jobs don't guarantee what happens

947
00:45:26,040 --> 00:45:26,879
Speaker 2: if I lose my job.

948
00:45:27,120 --> 00:45:28,480
Speaker 4: You said dating or married too much.

949
00:45:29,600 --> 00:45:31,799
Speaker 2: I think we should date to marry. What you think, Well,

950
00:45:31,800 --> 00:45:32,160
Speaker 2: you got a.

951
00:45:32,200 --> 00:45:37,160
Speaker 4: Date before you get married. You're trying. No, I'm just

952
00:45:37,239 --> 00:45:39,279
Speaker 4: saying as far as I feel at like, if you're

953
00:45:39,320 --> 00:45:40,319
Speaker 4: getting married.

954
00:45:40,280 --> 00:45:43,400
Speaker 2: Right, Okay, this is good because these are the convers people.

955
00:45:43,880 --> 00:45:47,880
Speaker 4: That this is real if you're married to somebody. So,

956
00:45:48,000 --> 00:45:49,640
Speaker 4: how does that work? Your dad become their dead?

957
00:45:50,360 --> 00:45:52,799
Speaker 2: Well, it depends on how you were raising what you think.

958
00:45:52,880 --> 00:45:54,879
Speaker 2: So I'm gonna give you a good example. And I'm

959
00:45:54,960 --> 00:45:58,560
Speaker 2: only trolling with him for fun, but when I actually

960
00:45:58,960 --> 00:46:02,799
Speaker 2: do appointment, I'm not trying to be funny. Men book

961
00:46:02,920 --> 00:46:05,640
Speaker 2: a lot of Denise knows it's appointments for women that

962
00:46:05,760 --> 00:46:08,440
Speaker 2: they are planning to propose to. I know when that

963
00:46:08,480 --> 00:46:10,960
Speaker 2: woe's going to get a proposal before that men ever

964
00:46:10,960 --> 00:46:15,040
Speaker 2: annow stick why because he will call in listen, I

965
00:46:15,080 --> 00:46:17,200
Speaker 2: want to book my girlfriend. I'm think about proposing, but

966
00:46:17,480 --> 00:46:19,799
Speaker 2: she got one hundred thousand, and you know she had

967
00:46:19,800 --> 00:46:21,319
Speaker 2: a teacher, but she don't be knowing about this stuff.

968
00:46:21,480 --> 00:46:23,080
Speaker 2: And I got to see her get on like it's

969
00:46:23,120 --> 00:46:26,080
Speaker 2: called PSI left before I propose. Like he wants to

970
00:46:26,200 --> 00:46:29,080
Speaker 2: know that there's a plan in place before going that

971
00:46:29,320 --> 00:46:33,080
Speaker 2: route because what could it affect. It could affect if

972
00:46:33,120 --> 00:46:37,040
Speaker 2: they were during joint taxes taking the taxes. It could

973
00:46:37,040 --> 00:46:39,520
Speaker 2: affect the fault. And if you get into what we

974
00:46:39,640 --> 00:46:42,040
Speaker 2: call a permanent default, you in default for that hundred

975
00:46:42,080 --> 00:46:42,600
Speaker 2: k forever.

976
00:46:42,840 --> 00:46:44,399
Speaker 4: So what happens if you don't pay ste the homes?

977
00:46:44,680 --> 00:46:45,440
Speaker 2: Yeah? The fault?

978
00:46:45,640 --> 00:46:46,120
Speaker 4: What does that mean?

979
00:46:46,239 --> 00:46:46,399
Speaker 6: Yeah?

980
00:46:46,480 --> 00:46:50,399
Speaker 2: So after two hundred and seventy days missed, now we're

981
00:46:50,440 --> 00:46:52,399
Speaker 2: going to go into what we call default. Now there's

982
00:46:52,400 --> 00:46:54,520
Speaker 2: stages of default. The first time we go in default,

983
00:46:54,560 --> 00:46:57,040
Speaker 2: you can get out. You can do a consolidation. Well,

984
00:46:57,120 --> 00:46:59,879
Speaker 2: the program right now, if everybody's listening, is called fresh Star.

985
00:47:00,680 --> 00:47:04,000
Speaker 2: It's literally one click. You probably will get out a

986
00:47:04,080 --> 00:47:06,400
Speaker 2: few months, right, but that's going to go away. I

987
00:47:06,520 --> 00:47:09,440
Speaker 2: think Denise in like a year, one more year. So

988
00:47:09,800 --> 00:47:12,000
Speaker 2: when that's done, it's back to what it was before,

989
00:47:12,080 --> 00:47:15,160
Speaker 2: which is are you consolidating if eligible or are you

990
00:47:15,239 --> 00:47:18,480
Speaker 2: going to do the nine payments could be five dollar

991
00:47:18,600 --> 00:47:20,759
Speaker 2: payments on time, you know, I mean people don't make

992
00:47:20,880 --> 00:47:23,520
Speaker 2: nine five dollar payments and then they never get out.

993
00:47:23,880 --> 00:47:27,240
Speaker 2: So I met a gentleman and I was so excited

994
00:47:27,280 --> 00:47:30,000
Speaker 2: when this Fresh Start program came out, he was in

995
00:47:30,120 --> 00:47:34,080
Speaker 2: a permanent default. He burned every option to get out twice.

996
00:47:34,640 --> 00:47:38,520
Speaker 2: It's two options consolidation five dollars, nine times for forty thousand,

997
00:47:40,080 --> 00:47:42,759
Speaker 2: everybody following. So he was in a permanent default for

998
00:47:42,880 --> 00:47:46,920
Speaker 2: forty thousand unless he came up with forty thousand. And

999
00:47:46,960 --> 00:47:48,800
Speaker 2: they didn't even want to take payments from him, like

1000
00:47:48,920 --> 00:47:50,600
Speaker 2: it was bad, like they don't care. At this point,

1001
00:47:50,840 --> 00:47:52,719
Speaker 2: he was like I could do three hundred a month,

1002
00:47:52,920 --> 00:47:55,560
Speaker 2: we need six hundred, Like they don't have to negotiate

1003
00:47:55,640 --> 00:47:59,200
Speaker 2: with you at that point. So I was so excited

1004
00:47:59,200 --> 00:48:01,560
Speaker 2: when Fresh Start came out because he was actually one

1005
00:48:01,600 --> 00:48:03,800
Speaker 2: of those people where he literally got what's called a

1006
00:48:04,440 --> 00:48:07,239
Speaker 2: fresh start. He's out of the fault. Now if he

1007
00:48:07,320 --> 00:48:08,880
Speaker 2: messed up again, then it's his last.

1008
00:48:08,960 --> 00:48:11,120
Speaker 4: Well, like what exact, because it's all right, let's say

1009
00:48:11,160 --> 00:48:13,480
Speaker 4: child support, right, if you don't pay child support payments,

1010
00:48:13,640 --> 00:48:18,040
Speaker 4: you can forfeit your passport. Uh huh, they can take

1011
00:48:18,120 --> 00:48:21,480
Speaker 4: money from your paycheck yep, and the worst case scenario,

1012
00:48:21,520 --> 00:48:22,680
Speaker 4: then they can put you in jail.

1013
00:48:22,800 --> 00:48:27,680
Speaker 2: Yep. So like like what are the re the loans, taxes, paycheck,

1014
00:48:28,280 --> 00:48:29,600
Speaker 2: never able to buy a house.

1015
00:48:29,560 --> 00:48:31,239
Speaker 4: So they could they could take they could take money

1016
00:48:31,239 --> 00:48:33,600
Speaker 4: out of your paycheck. Yeah, they could take money out.

1017
00:48:33,440 --> 00:48:36,080
Speaker 2: Of your taxes, taxes and then home buying for with

1018
00:48:36,160 --> 00:48:40,080
Speaker 2: the federal loan product like an faha, bha, No, it's

1019
00:48:40,120 --> 00:48:41,720
Speaker 2: a federal loan you right birthday?

1020
00:48:43,040 --> 00:48:46,760
Speaker 4: So and are there any student loans that don't require

1021
00:48:46,880 --> 00:48:47,920
Speaker 4: credit check for.

1022
00:48:48,080 --> 00:48:51,040
Speaker 2: Federal Well, federal loans don't require credit check, let's be clear,

1023
00:48:51,200 --> 00:48:53,120
Speaker 2: Like it's almost like the biggest loan that you ever

1024
00:48:53,120 --> 00:48:55,560
Speaker 2: get in America without a credit check. You went to school,

1025
00:48:55,600 --> 00:48:57,600
Speaker 2: you're eligible. You have a high school to anybody can

1026
00:48:57,640 --> 00:48:59,320
Speaker 2: get it if you have a high school diploma.

1027
00:48:59,400 --> 00:49:01,280
Speaker 4: She did. It's limited amounts, limited.

1028
00:49:01,040 --> 00:49:05,400
Speaker 2: Amounts, right, protective amounts. It's the credit checks don't come

1029
00:49:05,440 --> 00:49:07,160
Speaker 2: in until you're trying to do like graduate plus.

1030
00:49:07,080 --> 00:49:10,840
Speaker 4: Loans or private loans. Yeah, you needed for private loans.

1031
00:49:10,719 --> 00:49:14,200
Speaker 2: Private loans for sure. Yeah, I'm a true story. Before

1032
00:49:14,239 --> 00:49:16,400
Speaker 2: my credit was good, I had to get a graduate

1033
00:49:16,520 --> 00:49:19,600
Speaker 2: loan and it wasn't good, so they denied it. So

1034
00:49:19,640 --> 00:49:21,319
Speaker 2: I wrote on the pill and I never forget. Her

1035
00:49:21,400 --> 00:49:23,480
Speaker 2: name was Keisha, so I knew she was black. Keisha

1036
00:49:23,640 --> 00:49:26,400
Speaker 2: was like, no worries, I got you, and she approved it.

1037
00:49:26,480 --> 00:49:28,400
Speaker 2: Shout out to Keisha. Oh she still worked there.

1038
00:49:28,400 --> 00:49:31,200
Speaker 5: Because there's no student loans for grad.

1039
00:49:31,080 --> 00:49:34,520
Speaker 2: School, well graduate plus loans or private loans.

1040
00:49:34,800 --> 00:49:35,839
Speaker 5: Oh yeah, the private ones.

1041
00:49:35,920 --> 00:49:37,319
Speaker 2: But they can say no to you. So that's why

1042
00:49:37,360 --> 00:49:39,440
Speaker 2: the story was funny. Dang, I'm not going to be

1043
00:49:39,520 --> 00:49:42,040
Speaker 2: finish my last semester. And then Keisha, you know, I

1044
00:49:42,120 --> 00:49:43,720
Speaker 2: wrote a little letter. She approved.

1045
00:49:43,840 --> 00:49:45,720
Speaker 4: So how much money do you need to go to college?

1046
00:49:46,640 --> 00:49:49,000
Speaker 2: Well, where are you going? So community college? I guess

1047
00:49:49,000 --> 00:49:51,839
Speaker 2: we were talking about like twenty twenty five thousand. If

1048
00:49:51,880 --> 00:49:54,600
Speaker 2: we're talking about state college, is now like sixty seventy?

1049
00:49:56,120 --> 00:49:57,360
Speaker 5: Now are we per year? No?

1050
00:49:57,560 --> 00:49:57,880
Speaker 2: Total?

1051
00:49:58,000 --> 00:49:58,720
Speaker 5: Total total?

1052
00:49:59,600 --> 00:50:03,640
Speaker 2: Are we talking about private institutions like HBCUs might be like,

1053
00:50:03,680 --> 00:50:05,359
Speaker 2: what do you say, like twenty five thirty a year?

1054
00:50:06,280 --> 00:50:09,279
Speaker 2: Probably yeah, And again it's all about your experience. So

1055
00:50:09,400 --> 00:50:11,600
Speaker 2: my game plan was I didn't go to a HBCU.

1056
00:50:12,040 --> 00:50:14,480
Speaker 2: I went to a predominantly white school. Shout out to

1057
00:50:14,520 --> 00:50:17,759
Speaker 2: Bloomsburg University, and they gave me a whole lot of

1058
00:50:17,800 --> 00:50:20,400
Speaker 2: scholarship and on the weekends I went to the HBCU.

1059
00:50:20,560 --> 00:50:23,520
Speaker 4: So like for parents that has kids, now you would

1060
00:50:23,560 --> 00:50:26,239
Speaker 4: say that in order to you if you want to

1061
00:50:26,280 --> 00:50:29,960
Speaker 4: pay for your children's education in cash and ten years,

1062
00:50:30,040 --> 00:50:31,759
Speaker 4: Let's say you would need at least two hundred fifty

1063
00:50:31,760 --> 00:50:35,000
Speaker 4: thousand dollars on the safe side, because that would probably

1064
00:50:35,080 --> 00:50:37,719
Speaker 4: cover a private a top private.

1065
00:50:37,440 --> 00:50:38,759
Speaker 2: School, if that's where you want to go.

1066
00:50:38,880 --> 00:50:39,040
Speaker 4: Yeah.

1067
00:50:39,280 --> 00:50:42,040
Speaker 2: Now, remember there are certain Ivy League schools that are

1068
00:50:42,120 --> 00:50:44,080
Speaker 2: now saying if you make under I think the number

1069
00:50:44,120 --> 00:50:47,719
Speaker 2: is sixty thousand a year according to your taxes, they'll

1070
00:50:47,760 --> 00:50:49,120
Speaker 2: give that child a free ride.

1071
00:50:50,719 --> 00:50:53,680
Speaker 5: So this is crazy, right, because when you think about

1072
00:50:53,800 --> 00:50:57,120
Speaker 5: all types of debt, especially in business, you can file

1073
00:50:57,160 --> 00:51:02,120
Speaker 5: for bankruptcy right Chapter eleven. No, are there any cases

1074
00:51:02,120 --> 00:51:04,200
Speaker 5: where student loan can be qualified in that?

1075
00:51:04,400 --> 00:51:09,120
Speaker 2: More recently, there have been several successful cases where bankruptcy

1076
00:51:09,239 --> 00:51:12,399
Speaker 2: and federal student loans have happened and occurred. You see

1077
00:51:12,480 --> 00:51:17,520
Speaker 2: different politicians and lawmakers advocating for that. So there is

1078
00:51:17,719 --> 00:51:20,239
Speaker 2: actually a and it's so new it's hard to speak on,

1079
00:51:20,440 --> 00:51:24,520
Speaker 2: but there is about a fifteen twenty page package that

1080
00:51:24,719 --> 00:51:27,759
Speaker 2: you can fill out to apply for your student loans

1081
00:51:27,800 --> 00:51:30,320
Speaker 2: to be included in a bankruptcy. You have to go

1082
00:51:30,440 --> 00:51:33,320
Speaker 2: to a bankruptcy attorney in your state, and you have

1083
00:51:33,480 --> 00:51:35,920
Speaker 2: to go to one that's qualified. And if you are

1084
00:51:36,040 --> 00:51:37,880
Speaker 2: asking them questions and they don't even know that this

1085
00:51:38,000 --> 00:51:40,239
Speaker 2: pag exists. Don't pay them, That's my rule of thumb.

1086
00:51:40,600 --> 00:51:42,320
Speaker 2: But there are some good attorneys that are up to

1087
00:51:42,400 --> 00:51:45,160
Speaker 2: the latest information and it can be submitted.

1088
00:51:45,280 --> 00:51:45,400
Speaker 6: Now.

1089
00:51:45,800 --> 00:51:48,479
Speaker 2: This is like as of like the last two years.

1090
00:51:48,719 --> 00:51:52,600
Speaker 5: Yeah, because I'm thinking forty three million people in that Yeah,

1091
00:51:53,360 --> 00:51:58,360
Speaker 5: repayments are just starting. There's gonna be plenty of forbearance

1092
00:51:59,400 --> 00:52:02,239
Speaker 5: and there'll be plenty of defaults and some people just

1093
00:52:02,320 --> 00:52:05,919
Speaker 5: won't be able to pay, and so forgiveness programs are great,

1094
00:52:05,920 --> 00:52:08,600
Speaker 5: but everybody won't qualify, No, and so some people are

1095
00:52:08,600 --> 00:52:10,239
Speaker 5: going to have to figure out another route. And so

1096
00:52:10,360 --> 00:52:12,399
Speaker 5: I could in my mind, I don't know, you probably agree.

1097
00:52:12,440 --> 00:52:16,120
Speaker 5: I can see legislation being changed to add this is.

1098
00:52:16,200 --> 00:52:19,960
Speaker 2: Actively being work doing. So I saw the package, I

1099
00:52:20,040 --> 00:52:22,239
Speaker 2: was like, oh, this is very so the questions they

1100
00:52:22,320 --> 00:52:25,640
Speaker 2: ask for, like tell us about how your student loan

1101
00:52:25,719 --> 00:52:27,600
Speaker 2: debt would impact X RAYN like, so you have to

1102
00:52:27,760 --> 00:52:30,440
Speaker 2: have time. You want to get a professional to help

1103
00:52:30,480 --> 00:52:34,360
Speaker 2: you answer those questions. And like I said, very rare cases.

1104
00:52:34,520 --> 00:52:37,680
Speaker 2: It hasn't been fully publicized, but it is being approved.

1105
00:52:37,840 --> 00:52:40,879
Speaker 2: Now we're talking like astronomical student loan debt like four

1106
00:52:40,960 --> 00:52:44,680
Speaker 2: hundred and thirty thousand though, so that was one of

1107
00:52:44,760 --> 00:52:45,200
Speaker 2: the cases.

1108
00:52:45,360 --> 00:52:48,040
Speaker 4: So how does it affect your credit score?

1109
00:52:48,640 --> 00:52:50,719
Speaker 2: Well, so it's still a debt and it's not a

1110
00:52:50,800 --> 00:52:54,279
Speaker 2: reviving line. So it's so basically it's like it's like

1111
00:52:54,320 --> 00:52:56,719
Speaker 2: a rock on your credits. I always explain it. And

1112
00:52:57,280 --> 00:52:59,600
Speaker 2: when you start to pay on the principle, like let's

1113
00:52:59,600 --> 00:53:02,719
Speaker 2: say eighty thousand, and you put extra money and it

1114
00:53:02,760 --> 00:53:05,640
Speaker 2: starts to shrink, your credit score goes up. It's like, oh,

1115
00:53:05,840 --> 00:53:08,680
Speaker 2: it's getting paid down. But the moment it comes off.

1116
00:53:08,800 --> 00:53:12,200
Speaker 2: So to those of you that all got forgiven, congratulations,

1117
00:53:12,800 --> 00:53:15,480
Speaker 2: but we're going to also hear a negative turn in

1118
00:53:15,560 --> 00:53:18,760
Speaker 2: the next sixteen to ninety days. Everyone that got forgiven,

1119
00:53:18,920 --> 00:53:22,040
Speaker 2: their scores are going to plummet, especially when you talk

1120
00:53:22,040 --> 00:53:24,840
Speaker 2: about one hundred and fifty thousand and forgiven, three hundred

1121
00:53:24,880 --> 00:53:28,080
Speaker 2: thousand and forgiven. So if they were hoping to hone by,

1122
00:53:29,000 --> 00:53:31,279
Speaker 2: it's like, could you do it like today or could

1123
00:53:31,320 --> 00:53:35,000
Speaker 2: you wait until you see what your new score is? Thing.

1124
00:53:35,280 --> 00:53:38,000
Speaker 4: So when Biden, he tried to have a bigger plan,

1125
00:53:38,120 --> 00:53:40,759
Speaker 4: but the Supreme Court blocked it.

1126
00:53:41,239 --> 00:53:42,440
Speaker 2: Right, Yeah, a couple.

1127
00:53:42,320 --> 00:53:43,279
Speaker 4: Months ago, what was that.

1128
00:53:45,120 --> 00:53:48,279
Speaker 2: So, but that was all in my opinion, like that

1129
00:53:48,520 --> 00:53:51,479
Speaker 2: was the plan to be blocked. So I'm not a lawyer,

1130
00:53:51,560 --> 00:53:53,239
Speaker 2: and I knew that when I read it. When it

1131
00:53:53,280 --> 00:53:54,640
Speaker 2: came out, I was like, it's not going to go through.

1132
00:53:56,360 --> 00:53:59,320
Speaker 2: We were hoping, we were hopeful, but the legislation that

1133
00:53:59,400 --> 00:54:03,319
Speaker 2: were underwe in the proper legislation, it was too much

1134
00:54:03,600 --> 00:54:07,759
Speaker 2: red tape, too many opinions, too many signatures needed. So

1135
00:54:07,960 --> 00:54:11,200
Speaker 2: the new program is going to come back under nineteen

1136
00:54:11,239 --> 00:54:14,320
Speaker 2: sixty five Higher Education Act. That's someone we think is

1137
00:54:14,360 --> 00:54:17,759
Speaker 2: going to be able to be passed under. Because Lyndon B.

1138
00:54:17,880 --> 00:54:21,160
Speaker 2: Johnson already stilled the deal. How much would that Well,

1139
00:54:21,239 --> 00:54:23,360
Speaker 2: you haven't interestingly enough. I know I read it to you,

1140
00:54:23,440 --> 00:54:25,719
Speaker 2: but they haven't given our numbers yet, but they have

1141
00:54:25,880 --> 00:54:28,000
Speaker 2: been sure to say that if you don't do by

1142
00:54:28,520 --> 00:54:31,680
Speaker 2: December thirty verse that f f ELP conversion, they're going

1143
00:54:31,719 --> 00:54:33,600
Speaker 2: to exclude about close to ten million people.

1144
00:54:36,520 --> 00:54:37,840
Speaker 4: So do you ever think there's a time where it

1145
00:54:38,000 --> 00:54:39,360
Speaker 4: just all student loan will be forgiven?

1146
00:54:40,400 --> 00:54:41,600
Speaker 2: Why would that be beneficial?

1147
00:54:43,200 --> 00:54:46,920
Speaker 4: Well, if people it was a student loan crisis, right,

1148
00:54:47,080 --> 00:54:50,920
Speaker 4: and you have millions of people who just can't pay

1149
00:54:50,960 --> 00:54:53,920
Speaker 4: their student loans, then that probably will.

1150
00:54:53,760 --> 00:54:56,720
Speaker 2: Have more of our statistically who can't pay their stuitent loans.

1151
00:54:57,200 --> 00:55:03,080
Speaker 4: Who can't I'm ba low income people, middle class oyer,

1152
00:55:03,320 --> 00:55:04,919
Speaker 4: what do they look like? Black people?

1153
00:55:05,080 --> 00:55:07,640
Speaker 2: Okay, So here's the thing. When we talk about the

1154
00:55:07,920 --> 00:55:11,080
Speaker 2: largest holders of student loan debt, they're African American women

1155
00:55:11,440 --> 00:55:12,640
Speaker 2: thirty through fifty five.

1156
00:55:14,719 --> 00:55:16,200
Speaker 4: Percentage wise are numbers wise?

1157
00:55:16,920 --> 00:55:19,880
Speaker 2: Well percentage of the barbers in total? Who owns the

1158
00:55:20,040 --> 00:55:21,920
Speaker 2: most in the lone debt, who has the most degrees

1159
00:55:22,040 --> 00:55:25,160
Speaker 2: is that group of people. So it's interesting. You remember

1160
00:55:25,200 --> 00:55:27,239
Speaker 2: when they were talking about the number of forgiveness they

1161
00:55:27,239 --> 00:55:29,000
Speaker 2: were going to give out either ten or twenty thousand.

1162
00:55:29,239 --> 00:55:31,000
Speaker 2: Did you ever wonder why they ended at their number?

1163
00:55:32,120 --> 00:55:35,520
Speaker 2: So statistically, if they gave out twenty thousand, that cleared

1164
00:55:35,600 --> 00:55:38,800
Speaker 2: the population of white barer, white male barbers.

1165
00:55:39,280 --> 00:55:42,239
Speaker 5: Yeah, completely the race. Yeah, because the amount.

1166
00:55:41,960 --> 00:55:43,520
Speaker 2: That they owe was around under twenty thousand.

1167
00:55:43,600 --> 00:55:45,880
Speaker 5: It was under twenty thousand, So I think the average

1168
00:55:45,880 --> 00:55:48,439
Speaker 5: I remember reading is the average was like sixteen point

1169
00:55:48,520 --> 00:55:51,080
Speaker 5: five thousand dollars that they owed. Yeah, that they had

1170
00:55:51,120 --> 00:55:52,880
Speaker 5: at twenty deta clear the entire.

1171
00:55:52,880 --> 00:55:54,759
Speaker 2: Let's just keep going. I've got time. So now when

1172
00:55:54,800 --> 00:55:57,840
Speaker 2: you clear out all of these women, black women with

1173
00:55:57,920 --> 00:56:00,279
Speaker 2: student loan debt. And I know that other people have

1174
00:56:00,440 --> 00:56:05,360
Speaker 2: student loans that are black obviously, but statistically, now we

1175
00:56:05,520 --> 00:56:11,600
Speaker 2: put this population, we know that most agreed. Now they

1176
00:56:11,640 --> 00:56:15,560
Speaker 2: can become homeowners. You say, now it changes the whole

1177
00:56:15,640 --> 00:56:19,279
Speaker 2: landscape of Welcome to America. So when you ask me,

1178
00:56:19,719 --> 00:56:21,759
Speaker 2: do I think they're going to eliminate?

1179
00:56:22,600 --> 00:56:22,640
Speaker 5: No?

1180
00:56:23,200 --> 00:56:27,439
Speaker 4: Why so you think that? Okay, so it's a trap

1181
00:56:27,520 --> 00:56:28,040
Speaker 4: pretty much.

1182
00:56:29,120 --> 00:56:30,800
Speaker 2: I'm not saying it's a trap. What I'm saying is

1183
00:56:30,880 --> 00:56:33,000
Speaker 2: this is where our community when we talk about the

1184
00:56:33,000 --> 00:56:34,840
Speaker 2: black community, and I hate to just always take it

1185
00:56:34,920 --> 00:56:38,040
Speaker 2: to race, but statistically it's just very glaring. Has to

1186
00:56:38,120 --> 00:56:43,000
Speaker 2: be wiser and be informative about borrowing practices. Now, the

1187
00:56:43,160 --> 00:56:45,279
Speaker 2: challenge here is is that a lot of times when

1188
00:56:45,280 --> 00:56:47,200
Speaker 2: we look at this number, that person's also the first

1189
00:56:47,239 --> 00:56:49,600
Speaker 2: to graduate in their family from college. So we don't

1190
00:56:49,600 --> 00:56:52,320
Speaker 2: want to take the pride away from those numbers, and

1191
00:56:52,600 --> 00:56:55,000
Speaker 2: the first to have a graduate degree, the first to

1192
00:56:55,040 --> 00:56:56,719
Speaker 2: have a doctoral degree, So we don't want to take

1193
00:56:56,880 --> 00:56:59,279
Speaker 2: any of that pride away. But what I'm saying is,

1194
00:57:00,120 --> 00:57:04,560
Speaker 2: youll mom, grandmom, even they said your grandmom. At this point,

1195
00:57:05,040 --> 00:57:07,800
Speaker 2: how do we help your child and your grandchild not

1196
00:57:08,000 --> 00:57:10,600
Speaker 2: being that same number in same boat. One of the

1197
00:57:10,640 --> 00:57:12,440
Speaker 2: things that we're concerned about is if we see our

1198
00:57:12,480 --> 00:57:14,359
Speaker 2: clients get out of student loan debt at like let's

1199
00:57:14,360 --> 00:57:17,280
Speaker 2: say age forty forty five, we see that person going

1200
00:57:17,320 --> 00:57:18,880
Speaker 2: back to the student loan deb at age fifty to

1201
00:57:18,920 --> 00:57:22,160
Speaker 2: fifty five because of parent plus loans, because there's not

1202
00:57:22,360 --> 00:57:24,680
Speaker 2: a plan for their child or grandchild.

1203
00:57:24,960 --> 00:57:27,640
Speaker 5: Yeah, so the plan is really, yes, if you want

1204
00:57:27,680 --> 00:57:30,680
Speaker 5: to achieve the same goal, all for it, how do

1205
00:57:30,760 --> 00:57:32,960
Speaker 5: we do it more effectively? How we do it more efficiently?

1206
00:57:33,520 --> 00:57:35,800
Speaker 2: So I really love your platform, right because if somebody

1207
00:57:36,000 --> 00:57:38,320
Speaker 2: is a black woman that's thirty five, and she's really

1208
00:57:38,400 --> 00:57:41,080
Speaker 2: tuning the stuff you guys are saying, and she's following

1209
00:57:41,120 --> 00:57:45,000
Speaker 2: some of your strategies. She's thinking about real estate, I

1210
00:57:45,080 --> 00:57:46,920
Speaker 2: hate what I you know, use my friend over there,

1211
00:57:47,880 --> 00:57:50,680
Speaker 2: but she has, like we had, like ten properties. She's

1212
00:57:50,720 --> 00:57:54,280
Speaker 2: a she's a homeowner, she's a landlord. She's so she's

1213
00:57:54,360 --> 00:57:57,400
Speaker 2: changing the narrative for her daughter. So you know, her

1214
00:57:57,480 --> 00:57:59,560
Speaker 2: daughter shouldn't even have to know what a student loan

1215
00:57:59,720 --> 00:58:01,880
Speaker 2: is if we do this right, because there should be

1216
00:58:02,000 --> 00:58:05,080
Speaker 2: enough cash low income from her properties, or maybe when

1217
00:58:05,160 --> 00:58:07,480
Speaker 2: her daughter goes to school, it's time to sell one

1218
00:58:08,120 --> 00:58:10,640
Speaker 2: that is college tuition. So when we start changing the

1219
00:58:10,680 --> 00:58:13,040
Speaker 2: narrative of how we think about our finances and our

1220
00:58:13,080 --> 00:58:16,440
Speaker 2: wealth now, then we can set our children and grandchildren

1221
00:58:16,560 --> 00:58:19,800
Speaker 2: up differently. So we don't want to make anybody feel

1222
00:58:19,880 --> 00:58:22,440
Speaker 2: bad about what they did or didn't borrow. But what

1223
00:58:22,600 --> 00:58:26,640
Speaker 2: I'm saying is is the conversation has to change so

1224
00:58:26,840 --> 00:58:29,720
Speaker 2: that we don't see this cycle keep being repeated because

1225
00:58:29,760 --> 00:58:32,240
Speaker 2: I don't think there's going to be a wave of

1226
00:58:32,320 --> 00:58:37,040
Speaker 2: forgiveness to help out a significantly group of populations.

1227
00:58:37,080 --> 00:58:38,880
Speaker 5: Such can I go back for just like a second,

1228
00:58:39,040 --> 00:58:41,600
Speaker 5: because you said something and I understood from the standpoint

1229
00:58:41,640 --> 00:58:44,880
Speaker 5: of having loan forgiveness and that coming off of you know,

1230
00:58:45,040 --> 00:58:47,680
Speaker 5: your debt to income ratio in a sense, and your

1231
00:58:47,840 --> 00:58:50,880
Speaker 5: credit score plumbing right, So most people won't even understand that.

1232
00:58:50,920 --> 00:58:54,600
Speaker 5: They'll think, well, it got clear, credit score, short approved, yep,

1233
00:58:54,680 --> 00:58:55,520
Speaker 5: But it really doesn't.

1234
00:58:55,560 --> 00:58:55,600
Speaker 3: CA.

1235
00:58:55,800 --> 00:58:56,880
Speaker 5: Can you just explain why.

1236
00:58:56,800 --> 00:58:59,280
Speaker 2: There's no more debt to factor? Like, not to be funny,

1237
00:58:59,560 --> 00:59:02,520
Speaker 2: you've had that debt probably for over ten years years,

1238
00:59:02,880 --> 00:59:05,160
Speaker 2: so it's used to your debt, so now you take

1239
00:59:05,200 --> 00:59:07,240
Speaker 2: it off the board, it's like, oh, how do we

1240
00:59:07,400 --> 00:59:10,280
Speaker 2: factor that into your mix, into your score? So now

1241
00:59:10,360 --> 00:59:13,040
Speaker 2: when you just take it off the board, and what's

1242
00:59:13,120 --> 00:59:14,880
Speaker 2: going to be a shocker to people the next sixty

1243
00:59:14,960 --> 00:59:18,400
Speaker 2: days is it's not gradually paying itself down. It's off.

1244
00:59:19,440 --> 00:59:22,800
Speaker 2: So when you held the seven forty, that seven forty

1245
00:59:23,080 --> 00:59:26,120
Speaker 2: might look like a six forty. All jokes aside, because

1246
00:59:26,520 --> 00:59:29,640
Speaker 2: that was a heavy part of your mix. That's going

1247
00:59:29,720 --> 00:59:32,400
Speaker 2: to be going now. Then somebody asks me the other day, well,

1248
00:59:32,440 --> 00:59:34,400
Speaker 2: how do I keep that score up? You want the

1249
00:59:34,440 --> 00:59:37,480
Speaker 2: real answer. You need a mortgage. You need another debt

1250
00:59:37,560 --> 00:59:40,000
Speaker 2: similar to replace it of the same amount. I would

1251
00:59:40,000 --> 00:59:41,160
Speaker 2: hope if you would do that, it would be a

1252
00:59:41,200 --> 00:59:42,520
Speaker 2: mortgage and not another student loan.

1253
00:59:42,640 --> 00:59:44,600
Speaker 5: Yeah, you got to balance that out. Yeah. Also, the

1254
00:59:44,680 --> 00:59:47,680
Speaker 5: other part is from a tax standpoint. Sometimes when loans

1255
00:59:47,680 --> 00:59:50,800
Speaker 5: are forgiven, does that go into your taxable income?

1256
00:59:51,440 --> 00:59:54,040
Speaker 2: I seen you bring that up. So it is tax

1257
00:59:54,400 --> 01:00:00,560
Speaker 2: federally federally tax free until twenty twenty five. This is

1258
01:00:00,640 --> 01:00:04,280
Speaker 2: not a for everything. Oh oh yeah, do explain so

1259
01:00:04,800 --> 01:00:07,480
Speaker 2: after twenty and twenty five. That's why it matters who

1260
01:00:07,520 --> 01:00:12,240
Speaker 2: gets selected too. That might be texts. These These are

1261
01:00:12,320 --> 01:00:15,640
Speaker 2: what we call provisions. These are not laws. So provision

1262
01:00:15,720 --> 01:00:18,760
Speaker 2: is in place until twenty and twenty five to say

1263
01:00:18,880 --> 01:00:21,920
Speaker 2: you will be tax free. Let's say Biden gets reelected

1264
01:00:22,120 --> 01:00:24,600
Speaker 2: prosted loan. He might extend it to two thousand and

1265
01:00:24,760 --> 01:00:29,880
Speaker 2: thirty right or whatever his termins, but that's the provision.

1266
01:00:30,000 --> 01:00:32,800
Speaker 2: That's that's like president the president. So you got to

1267
01:00:32,880 --> 01:00:37,440
Speaker 2: understand the tax laws during that president's era. Certain states say,

1268
01:00:37,600 --> 01:00:39,720
Speaker 2: I don't care what the federal government's doing. If you

1269
01:00:39,800 --> 01:00:42,440
Speaker 2: get forgiven for two hundred k, we're texting at his income.

1270
01:00:44,360 --> 01:00:47,040
Speaker 2: So what I would do? So I would probably move.

1271
01:00:47,800 --> 01:00:49,800
Speaker 2: There's about thirteen states I think it is, and I

1272
01:00:49,800 --> 01:00:52,160
Speaker 2: don't know them off hand. Just google it and you

1273
01:00:52,360 --> 01:00:54,400
Speaker 2: live in one of them, and you know you got

1274
01:00:54,440 --> 01:00:57,040
Speaker 2: that letter. I got to move, Like I don't even know.

1275
01:00:57,160 --> 01:00:58,960
Speaker 2: Like I'm being funny and serious at the same time,

1276
01:00:59,360 --> 01:01:01,280
Speaker 2: you're going to get text for that two hundred thousand

1277
01:01:01,440 --> 01:01:05,200
Speaker 2: in this example, good to know, Good to know. Yeah,

1278
01:01:05,240 --> 01:01:07,200
Speaker 2: And actually I had a client that was a true story.

1279
01:01:07,320 --> 01:01:09,360
Speaker 2: Like I had a client say she was like, so

1280
01:01:09,520 --> 01:01:12,440
Speaker 2: I'm excited. She was like, but one hundred thousand texts?

1281
01:01:12,760 --> 01:01:14,880
Speaker 2: She was like in my state, she was like, I

1282
01:01:14,920 --> 01:01:16,360
Speaker 2: don't know She's like, I think I need to move

1283
01:01:16,400 --> 01:01:18,280
Speaker 2: back in with my parents. They live and so and so,

1284
01:01:18,400 --> 01:01:20,680
Speaker 2: and I'm like, well can you move? Like can we

1285
01:01:20,760 --> 01:01:23,520
Speaker 2: put that change of address in? Like can we file

1286
01:01:23,600 --> 01:01:26,000
Speaker 2: taxes at a new address? Because yes, she's gonna get

1287
01:01:26,040 --> 01:01:31,200
Speaker 2: text m all right, Well it sounds so heavy today.

1288
01:01:31,440 --> 01:01:32,280
Speaker 4: Then that's a lot.

1289
01:01:32,360 --> 01:01:35,200
Speaker 5: It's a lot. My last thing before we go, you

1290
01:01:35,320 --> 01:01:38,520
Speaker 5: just talking about scholarships, and I know kids and parents

1291
01:01:38,960 --> 01:01:41,600
Speaker 5: this is so, is there a place that kids can go?

1292
01:01:41,720 --> 01:01:43,400
Speaker 5: I remember when you used to go to your guns council,

1293
01:01:43,440 --> 01:01:45,240
Speaker 5: they had this book of all these scholarships. If you

1294
01:01:45,320 --> 01:01:48,000
Speaker 5: were left handed, there's a scholarship. Is there one place

1295
01:01:48,080 --> 01:01:49,960
Speaker 5: or a concrete place that they can go for scholarships

1296
01:01:50,160 --> 01:01:52,600
Speaker 5: and grants? Because you know grants don't have to be

1297
01:01:52,680 --> 01:01:53,320
Speaker 5: repeated as well.

1298
01:01:53,440 --> 01:01:56,760
Speaker 2: So I mean then there are many places you can go.

1299
01:01:56,920 --> 01:01:59,320
Speaker 2: It's just hard to shout out places that I think

1300
01:01:59,360 --> 01:02:02,520
Speaker 2: are still rep Like the Scholarly app is one of

1301
01:02:02,560 --> 01:02:06,040
Speaker 2: my favorites if it's still around. I know, like college

1302
01:02:06,120 --> 01:02:11,040
Speaker 2: Girl JP, I think it's her name. She's awesome. Let

1303
01:02:11,080 --> 01:02:14,680
Speaker 2: me see HBCU Money Guide on Instagram. She is amazing

1304
01:02:14,760 --> 01:02:19,000
Speaker 2: with her work. I tend to post different scholarship strategists

1305
01:02:19,040 --> 01:02:21,800
Speaker 2: on my page here throughout because I know that they

1306
01:02:21,920 --> 01:02:24,280
Speaker 2: go hand in hand. We don't get into it because

1307
01:02:24,280 --> 01:02:27,160
Speaker 2: it's just we don't have the capacity. What I will

1308
01:02:27,240 --> 01:02:32,720
Speaker 2: say is, you know, you want to identify your child.

1309
01:02:32,800 --> 01:02:35,080
Speaker 2: If you're a parent watching this, you want to identify

1310
01:02:35,200 --> 01:02:39,040
Speaker 2: your child's strengths early on. And that's the scholarship money.

1311
01:02:39,040 --> 01:02:41,280
Speaker 2: We're going to start caring ourselves too, like you're going

1312
01:02:41,360 --> 01:02:43,920
Speaker 2: to know pretty soon is your child sports or academics,

1313
01:02:44,320 --> 01:02:47,280
Speaker 2: is your child techie or not? Because there's so much

1314
01:02:47,400 --> 01:02:49,600
Speaker 2: money out there, and there is really a lot of

1315
01:02:49,640 --> 01:02:52,080
Speaker 2: money there. But here's and I do have to say

1316
01:02:52,080 --> 01:02:55,440
Speaker 2: this because I used to sit on scholarship committees. Everybody

1317
01:02:55,560 --> 01:03:00,640
Speaker 2: thinks they're not eligible. Women, young ladies particularly, they always

1318
01:03:00,720 --> 01:03:03,120
Speaker 2: think they're not eligible. I never forget. I had a

1319
01:03:03,160 --> 01:03:05,600
Speaker 2: young lady that was trying to go for nursing. The

1320
01:03:05,880 --> 01:03:08,680
Speaker 2: requirement was a three point h and some other things.

1321
01:03:09,080 --> 01:03:12,120
Speaker 2: She had a way above all the other requirements. She

1322
01:03:12,240 --> 01:03:15,120
Speaker 2: was super active. She had a two point nine. So

1323
01:03:15,200 --> 01:03:17,920
Speaker 2: I'm looking at her application, but she didn't do one

1324
01:03:18,000 --> 01:03:21,320
Speaker 2: last thing to apply. So I called her personally. I'm like, hey,

1325
01:03:21,600 --> 01:03:24,120
Speaker 2: he was Jasmine. I'm like, I need you to put

1326
01:03:24,160 --> 01:03:26,920
Speaker 2: this in by midnight. She's like, no, it stead a

1327
01:03:26,960 --> 01:03:29,200
Speaker 2: three point oh. So there's a psychology here that women,

1328
01:03:29,640 --> 01:03:33,880
Speaker 2: even with jobs, they look at one requirement, go not eligible.

1329
01:03:34,480 --> 01:03:37,480
Speaker 2: Men go, I'm about to try anyway. So we would

1330
01:03:37,520 --> 01:03:41,479
Speaker 2: see young men at our committee get scholarships over young women,

1331
01:03:41,520 --> 01:03:44,200
Speaker 2: and I realized the psychology is a lot of young

1332
01:03:44,240 --> 01:03:46,680
Speaker 2: women would think because they missed one thing. So she

1333
01:03:46,840 --> 01:03:48,560
Speaker 2: thinks me to this day she got the money it

1334
01:03:48,640 --> 01:03:52,479
Speaker 2: was like ten thousand because she just applied anyway. Because

1335
01:03:52,520 --> 01:03:54,040
Speaker 2: now here's what happens with a lot of people don't

1336
01:03:54,040 --> 01:03:56,720
Speaker 2: know behind the scenes when there are private donors that

1337
01:03:56,800 --> 01:03:58,840
Speaker 2: are giving like the three and the five thousands, however,

1338
01:03:59,400 --> 01:04:03,600
Speaker 2: they are asking the committee's opinion. So if I'm looking

1339
01:04:03,640 --> 01:04:06,720
Speaker 2: at Bobby, who has a three point two, but Bobby

1340
01:04:06,840 --> 01:04:09,920
Speaker 2: joined no activities in school, But I'm looking at Jasmine,

1341
01:04:09,920 --> 01:04:12,120
Speaker 2: who's a two point nine, but she was class president,

1342
01:04:12,240 --> 01:04:13,880
Speaker 2: she was this, she was this, she was this, I

1343
01:04:13,960 --> 01:04:16,920
Speaker 2: don't know. I'm probably gonna go with Jasmine because she

1344
01:04:17,080 --> 01:04:19,800
Speaker 2: still had good grades and she managed all of this stuff.

1345
01:04:20,160 --> 01:04:23,680
Speaker 2: And then Bobby just was in school. So then I

1346
01:04:23,800 --> 01:04:26,120
Speaker 2: have to tell the person who's given the money. My

1347
01:04:26,240 --> 01:04:28,840
Speaker 2: professional opinion would be, let's go with Jasmine, because we

1348
01:04:29,000 --> 01:04:31,160
Speaker 2: know when she gets to school and becomes an active

1349
01:04:31,200 --> 01:04:33,480
Speaker 2: member of her community at school, she's going to do

1350
01:04:33,600 --> 01:04:37,320
Speaker 2: good and still add to the value of their community. Oh,

1351
01:04:37,360 --> 01:04:39,360
Speaker 2: that's a good perspective. Let's give it to Jasmine.

1352
01:04:39,760 --> 01:04:41,920
Speaker 5: Shout out to Jasmine. Yep, don't forget to come pick

1353
01:04:41,960 --> 01:04:42,560
Speaker 5: up your pieces.

1354
01:04:42,800 --> 01:04:46,360
Speaker 2: Yes, So that's a good example. And that's how scholarship

1355
01:04:46,400 --> 01:04:48,800
Speaker 2: the minds of a scholarship committee works. When you submit

1356
01:04:48,880 --> 01:04:51,240
Speaker 2: things like that, especially when they're small and formal, they

1357
01:04:51,760 --> 01:04:54,520
Speaker 2: want to look to see who's really doing the work

1358
01:04:54,760 --> 01:04:56,560
Speaker 2: because it's all about Oh, in schools, this is a

1359
01:04:56,600 --> 01:04:59,240
Speaker 2: good one for schools. Schools want to give money to

1360
01:04:59,360 --> 01:05:02,960
Speaker 2: people that have shown proven history in high school of

1361
01:05:03,160 --> 01:05:06,880
Speaker 2: being active in value members, Like they want to put

1362
01:05:06,960 --> 01:05:09,480
Speaker 2: you on the billboard. So when I went to Bloomsburg

1363
01:05:09,520 --> 01:05:11,760
Speaker 2: and got all of that money, it's because I was

1364
01:05:11,800 --> 01:05:14,320
Speaker 2: a part of everything in high school. So nine times

1365
01:05:14,320 --> 01:05:15,600
Speaker 2: out of ten, I'm going to do what be a

1366
01:05:15,680 --> 01:05:18,960
Speaker 2: part of everything here in college. You can put me

1367
01:05:19,080 --> 01:05:21,480
Speaker 2: as an ambassador. You might want to put me up there,

1368
01:05:21,560 --> 01:05:24,800
Speaker 2: like you know, this is how schools think about when

1369
01:05:24,840 --> 01:05:28,800
Speaker 2: they give institutional money, if that makes sense. So my

1370
01:05:29,240 --> 01:05:31,960
Speaker 2: advice is if you're a high schooler watching this, or

1371
01:05:32,040 --> 01:05:34,440
Speaker 2: you have a high schooler and you look at your

1372
01:05:34,520 --> 01:05:38,040
Speaker 2: child and your child isn't doing anything just going to school,

1373
01:05:38,360 --> 01:05:41,320
Speaker 2: that's not enough. What church committee can they join? What

1374
01:05:41,960 --> 01:05:45,000
Speaker 2: nonprofit can they assist? What do their weekends look like?

1375
01:05:45,360 --> 01:05:48,080
Speaker 2: Are they a leader any capacity? And this is where

1376
01:05:48,160 --> 01:05:50,240
Speaker 2: I say it has to be hands on parenting nine

1377
01:05:50,280 --> 01:05:52,800
Speaker 2: through twelve because you have to make your child go

1378
01:05:52,920 --> 01:05:54,960
Speaker 2: and do something. And I know that we're just like, well,

1379
01:05:55,000 --> 01:05:56,320
Speaker 2: he's a good kid, he's just being a house on

1380
01:05:56,400 --> 01:05:58,080
Speaker 2: his phone. Well that's not going to cut it in

1381
01:05:58,160 --> 01:05:59,560
Speaker 2: this time when we're trying to give our money.

1382
01:06:01,240 --> 01:06:04,800
Speaker 4: There you haven't, Well, another great episode, a lot of information.

1383
01:06:05,240 --> 01:06:06,080
Speaker 4: How can people follow?

1384
01:06:06,080 --> 01:06:08,200
Speaker 2: You definitely spend out of that three hundred k. But

1385
01:06:08,280 --> 01:06:12,680
Speaker 2: we're just I gotta learn that tactics. So let's talk

1386
01:06:12,680 --> 01:06:13,880
Speaker 2: about the same play.

1387
01:06:16,040 --> 01:06:18,880
Speaker 5: You a lot now three hundred a lot.

1388
01:06:19,240 --> 01:06:20,720
Speaker 2: You guys got to do a whole episode on it,

1389
01:06:22,080 --> 01:06:26,560
Speaker 2: like a survey question. You can follow me what you say?

1390
01:06:26,560 --> 01:06:28,240
Speaker 5: It is real, Like you know, I'm married, so like

1391
01:06:28,320 --> 01:06:31,080
Speaker 5: I had that was later on in relationship. It was

1392
01:06:31,160 --> 01:06:32,760
Speaker 5: like what what? How much? How much that?

1393
01:06:32,920 --> 01:06:35,320
Speaker 2: So did you guys talk about it after marriage.

1394
01:06:36,080 --> 01:06:39,520
Speaker 5: Before before before? Yeah, because I mean most people talk

1395
01:06:39,560 --> 01:06:41,360
Speaker 5: about as I had student on that, right, so I

1396
01:06:41,440 --> 01:06:43,160
Speaker 5: need to I know what mine is that I'm like,

1397
01:06:43,320 --> 01:06:45,400
Speaker 5: you know what you got, so where you are? So

1398
01:06:45,640 --> 01:06:47,480
Speaker 5: like you know, so we know, and what's going to

1399
01:06:47,520 --> 01:06:50,640
Speaker 5: be the plan how we're going to bring down this that?

1400
01:06:50,920 --> 01:06:53,600
Speaker 2: Yeah, so well most people don't talk about it till

1401
01:06:53,960 --> 01:06:57,680
Speaker 2: after surprisingly enough, and then now it don't look so

1402
01:06:58,120 --> 01:07:01,800
Speaker 2: fun to situation. And I do think that people that

1403
01:07:01,920 --> 01:07:04,280
Speaker 2: have three hundred thousand should be able to be married.

1404
01:07:04,320 --> 01:07:06,560
Speaker 2: That's not what I'm saying because I don't feel like

1405
01:07:06,600 --> 01:07:09,560
Speaker 2: those trolls. What I'm saying is it's gotta be a

1406
01:07:09,720 --> 01:07:15,280
Speaker 2: plan because if this woman, oh three hundred, I would

1407
01:07:15,400 --> 01:07:19,080
Speaker 2: hope her income would be to the on part to

1408
01:07:19,160 --> 01:07:22,440
Speaker 2: support that. Maybe she's already a doctor in that case, right,

1409
01:07:22,880 --> 01:07:25,520
Speaker 2: so we know that there's something ambitious about this person.

1410
01:07:25,640 --> 01:07:28,280
Speaker 2: Maybe she can hold this job. But if you meet

1411
01:07:28,320 --> 01:07:31,400
Speaker 2: this person that owes six figures and they don't have

1412
01:07:31,480 --> 01:07:34,480
Speaker 2: ambition and they don't yeah, that's a different conversation. So

1413
01:07:34,560 --> 01:07:39,000
Speaker 2: I'm gonna let you ride though you can follow me

1414
01:07:39,080 --> 01:07:41,720
Speaker 2: on Instagram the student Loon Doctor. We have a YouTube

1415
01:07:41,800 --> 01:07:45,280
Speaker 2: channel that's out. Just type in the studolone doctor. If

1416
01:07:45,280 --> 01:07:47,720
Speaker 2: anybody pops up otherland, you know a little black girl

1417
01:07:47,760 --> 01:07:50,280
Speaker 2: that's probably not made. They do duplicate. You do know,

1418
01:07:51,160 --> 01:07:52,040
Speaker 2: and I appreciate you.

1419
01:07:53,760 --> 01:07:55,560
Speaker 4: You have it. Thank you guys to rocking on us.

1420
01:07:55,600 --> 01:07:56,280
Speaker 4: We see you next week.

1421
01:07:56,800 --> 01:08:01,000
Speaker 1: Pace an illegal alien from Guatemala charge with raping a

1422
01:08:01,120 --> 01:08:04,600
Speaker 1: child in Massachusetts. An MS thirteen gang member from Al

1423
01:08:04,720 --> 01:08:09,520
Speaker 1: Salvador accused of murdering a Texas man of Venezuelan charged

1424
01:08:09,560 --> 01:08:13,360
Speaker 1: with filming and selling child pornography in Michigan. These are

1425
01:08:13,520 --> 01:08:16,960
Speaker 1: just some of the heinous migrant criminals caught because of

1426
01:08:17,040 --> 01:08:17,880
Speaker 1: President Donald J.

1427
01:08:18,000 --> 01:08:18,919
Speaker 2: Trump's leadership.

1428
01:08:19,240 --> 01:08:22,799
Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.

1429
01:08:23,200 --> 01:08:26,880
Speaker 1: Under President Trump, attempted illegal border crossings are at the

1430
01:08:27,000 --> 01:08:30,839
Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

1431
01:08:30,880 --> 01:08:34,679
Speaker 1: aliens have been arrested. If you are here illegally, your

1432
01:08:34,800 --> 01:08:38,920
Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,

1433
01:08:39,240 --> 01:08:39,879
Speaker 1: and deported.

1434
01:08:40,400 --> 01:08:41,519
Speaker 2: You will never return.

1435
01:08:41,880 --> 01:08:44,840
Speaker 1: But if you register using our CBP home app and

1436
01:08:45,000 --> 01:08:48,280
Speaker 1: leave now, you could be allowed to return legally, do

1437
01:08:48,439 --> 01:08:49,000
Speaker 1: what's right.

1438
01:08:49,640 --> 01:08:50,320
Speaker 2: Leave now.

1439
01:08:50,800 --> 01:08:55,080
Speaker 1: Under President Trump, America's laws, border and families.

1440
01:08:54,760 --> 01:08:55,559
Speaker 2: Will be protected.

1441
01:08:55,680 --> 01:08:57,799
Speaker 3: Sponsored by the United States Department of Homeland Security,