When I dropped out at 20, I had to move out, pay my loans on my own, and survive on my own. I now have zero degrees but have two houses and a six-figure household income at 38. I am back in college, but paying cash. It's hard, but it will make her stronger.
Good job. You should take out a student loan while you are back in college. It is 0% until you leave college. Then you can just pay it off in cash. However, you can put the loan money in a high yield savings account and grow it 1.5-2% and still pay off the loan when you leave college. I wouldn't recommend anything more risky than HYSA, but some people would invest it in index funds.
@@milanlabus1582No post secondary school is that cheap these days. 1000 for a 60 hour associates degree would be 16.66 per credit hour. Cheapest community college i could find in a seatch online was one in kansas that is 85 per credit hour, plus 35 for online courses, per credit hour. Then there are other per class fees. And other random fees, plus books. National average is around 3500 per year for community college tuition and im pretty sure that doesnt include fees, definitely doesnt include the books. Most people are 10 grand out of pocket for their 2 year at a community college.
This upcoming generation will have the most homelessness out of any generation before it, because of stuff like this. Too many young people live in this digital lala land now of days and because of it many young people don't know how to deal with reality.
We need to stop babying these people. It is the parents fault. They don’t raise their kids to be good adults one day. Has nothing to do with society faults. There are some pre-teens who could do wonders with 100k from venture capitalists.
It's the governments fault for handing out these loans to 18 year olds who are clueless about financial responsibility. There is no provisions with student loans like there are with other loans. Just about any person can get one and that's the problem.
SteelCity1981 so what is the government suppose to do? Make a mandatory IQ test associated with student loans? There would be so many discrimination law suits. Either parents need to mature or the kids need to mature. Can’t blame the government all the time. Who do you blame when there are private lenders ?
College is fine, but parents don't really know how to teach their kids financial literacy. People who don't even try to go to college still get payday loans and such. It is a societal problem. College can be $2K a quarter if you go to a Community College to start. She would be $10-12K in debt when she realized she wasn't cut out for college. However, her parents coddled her and let her go to a $50K a year college, just to drop out. Financial literacy of the parents failed the child. Can't blame the government or an 17/18 year old for everything. The dad needs to take more ownership for his failings, but also follow Dave's advice and help her grow up.
Sir We Are About to Die nope they won’t. They are in their thirty’s now. As teenagers we helped them process their choices by asking what if we died tomorrow. How would you handle this? My kids are successful in their careers and with no outstanding debt. And we have 4 wonderful grandchildren.
@@pamclark4712 My parents did this to me Ms Pam. My mom passed away when I was 16 and dad when I was 18. I mourned and was depressed, but I had been prepared for it and was an adult. I have gone on to have my own career, invest, have no debt married now at 27 with my own home. And no they did not have money to leave behind. But the lessons and disciplined I learnt from them has been more valuable than money. You are doing it right, you are a good mom.
I know this sounds unbelievable. But I know a few individuals who did just this. Colleges and universities are a very expensive investment. Think hard about alternative paths!
That’s what happens when you go to schools who DONT want you there. They want your money not YOU. If they make you pay this much then DONT go. There are 3000 colleges yet people always go to the big named ones that DONT want them. If they make you pay 200k for 4 years that’s a sign they DONT want anything except your money.
Yup, parents obviously weren't involved until after she decided on college tuition. Parents didn't have any type of 529 plan either, so probably not financially literate either. These things should be taught in High School.
Man I have 70k loans with a masters degree and it hurts my soul every time I login to that stupid loan website. Imagine having 100k with no degree to show for it.
Martial I agree, and I tried to tell a co-worker this TWICE with each of his kids, as both were totally unsure of what they wanted to do and had zero direction. Both of them failed out of college after he shelled out 20-40 thousand dollars for them each! At least he is telling them they can pay for their own school now, but the dopes could have had a free four year degree because he was willing to pay for it!! I would have given my left leg for free college!
I dated a man in college once who told me he never even opened his student loan statements. I ran the other way so freaking fast. College students are not encouraged to take their loans seriously for a reason: blind borrowers make minimum payments for life. These are adults, but parents need to do better preparing them for the scam that is the 4 year university. Enough already.
Mr. R, My wife and I only borrowed 8K$ for our 2 daughters finished college (Engineering and Business Administration ) we are very proud that they finished schooling .
Honestly me going to Community College out of Pocket and decided College wasn't for me after a couple years was probably one of the best decisions I ever made
My sister did the same thing...Attended college for several years but never graduated, spent around $80,000 with interest. Only pays minimal payments now so they stop harassing her for $ Smh 🤦🏼♂️
A friend of ours just a few days ago shared that his son who is graduating from college in a few weeks will be going to dental school following graduation, and dental school will cost $400,000!!! Wow, I could hardly believe it. I thought it was the school that made it so expensive, but no, it is a public university. Unbelievable! But true!!!
I know but the idea is that after 30 years of being a dentist you will have made $5,000,000-$10,000,000 in income depending on if you open up your own dental practice.
Then you definitely have a point there. This man who is a dentist, will have a son who also become a dentist. And the now practicing dentist "inherited" his practice from his also dentist father, which in turn, grew the practice and developed it more beyond what his dad had done, with the latest advancements in technology, and has an even bigger and thriving business than his dad had. It makes sense to build a family business this way and do keep it as a medical based business. It is up to the next generation to appreciate that, however, and keep it going. There are young people growing up in family blessings who do not recognize the advantages of what they have and take advantage of the hard work of their parents and grandparents, which then can bring an end to the family business. Fortunately for this family, that is not the case with the youngest successfully accepted and on his way to a prominent and respected dental school, the same one his dad went to.
It's crazy how fast college can burn through $100k💰! He's gotta get moving with helping her move forward and take these loans seriously otherwise she's gonna be waiting her whole life for some kind of student loan forgiveness program.
The least you can do to account for that much debt is finish your degree. I hated some parts of college, but I refused to drop a class or not finish. They should not have given her the backup of giving up and living at home.
Actually, she didn't even get to the basket weaving part yet. She only finished two years of college, so she was still taking the core requirements. She paid 100K for 2 years worth of courses that could have been taken at the local community college for around 10K.
The thing is, colleges and traditional student loans for undergraduates have pretty strict low limits. At age 20 with $100k in student loans means someone (parents probably) co-signed outside private student loans.
I am AMAZED at how many parents are such whimps when it comes to in-laws and your own freaking kids!! UNBELIEVEABLE!! Parents are not supposed to be scared to tick off their kids. I have four now adult sons and never worried about how life would be if and when I did something that irritated them. - STOP BEING WHIMPS PARENTS!!!! STOP TRYING TO BE YOUR CHILDREN'S FRIEND!!!! BE PARENTS!!!!
He and his enabling wife raised this entitled lazy unmotivated little princess to breeze thru life on everybody's dime! No this daughter isn't a good kid, she's a parasite and his chuckling on this call isn't a good look. Dave is right she needs shape up or ship out .
Dave, just wanted to thank you. In these uncertain times, it feels really good to be debt free. I pray that more Americans will take your advice and can feel freedom from fear in times like this.
My wife has 100k in debt and has no plan of getting out it and wants the government to forgive it, as she is a lawyer. She's playing the stupid waiting game. I'm just glad I only owe $323 to Firestone and that's it. If I have to dip squad.... so be it
"You must go to college at any cost no matter what or face severe punishment." Is becoming a regular saying in many American households today. Not to mention graduate in a few years when it takes a decade to complete the 100 required classes... No no no: This is what you do to go to college and minimize the problem: 1. Complete as much AP classes as you can in high school and transfer them to college. 2. Get a job for a year between high school and college. 3. Complete as many of those "scholarships" as you possibly can during that time. 4. Go to a "2-year degree" school and focus on making progress in your selected field. 5. Now you should have completed the majority of the required classes before even entering the university you can now go to college and if you need a loan it would be $10,000 not $100,000.
hbarudi 👏👏👏👏 love this. i’m an actor and this is exactly the path i decided to take. now i’ll be graduating with about $15k of student loan debt and a commitment to pay it off within my first one or two years. i have zero idea how other actors i know are planning on graduating from art school with six figures in debt, making $30k a year with no side hustles or steady job outside of the few gigs they can book as a rookie actor, living in a big expensive city, and thinking that they’re gonna ~make it big~ when they’re too busy struggling financially. the starving artist is a myth, but the stupid millennial isn’t.
I moved out at 19 with $800, cross country to a state with no family, no friends, no finacial support, and a job making $9.25/hr. Dont live at home longer than nessecary.
Man 100k with nothing to show for it. She doesn't have much wriggle room to make any more bad financial decision, this is like a life times worth of repayments. I just feel bad that shes made a decision that gonna effect the rest of her life, but she to young and not had enough life experience to care.
My mum did this to my brother because she's so afraid my brother will get into trouble. The problem is my mum never let my brother out the nest (grow up) so he still ended up in serious trouble anyways because he didn't know how to manage good v.s. bad situations.
I flunk out of college twice. I could not keep up academically & I failed every midterm and final exam.😟 Can I get my loan discharge? Just on the base that I had no business stepping foot in higher learning.
You paid for your children's college educations? That certainly taught them responsibility! I had to go into the military to help finance mine - without student loans.
Unless it's changed since the 70's, if a person has served a minimum of 18 months on active duty, and been honorably discharged, the GI Bill will pay for higher education at all colleges and Universities in the country. The only exception are some very expensive private schools, and even then, it covers most expenses.
My god people can be soo stupid. Why would you drop out of college with that much debt? At the very least graduate and have something to show for all that debt. This isn't like dropping out of high school and paying 50 dollars to take a GED test, this is a 100,000 dollars here, that you'll never be able to take back!
This is why college will never be “free”. You are even more inclined to not finish something when it’s on someone else’s dime. He couldn’t even finish something that was on his own dime. This isn’t a rare occurrence btw. A huge % of students drop out for non-financial related issues.
Umm sir, it's called her getting a job or three to pay for herself to live, then she will learn the value of a college education if she earns a useful degree!
Well at least he didn't front $100,000 in cash for tuition and then his daughter dropped out. That's my nightmare scenario for my son, who will be entering college soon. This is why I may require him to finance at least part of his education. This guy got off easy. His daughter is on the hook for the loan at least. If my son drops out, or majors in something stupid and ends up in a minimum wage job with no future, he can pay for college himself after the fact.
Stay on top of him. Don't let him major in something stupid and make minimum wage, he will ask you for money every month. Trust me, you didn't pay for his college for him to be a deadbeat.
Yet if she was married and the husband was calling Dave about her wanting to be stay-at-home and not caring about paying the loan, Dave would go off at the husband about his "through health and sickness yada yada..." shtick
I didn't have parents to help me out. Even if she doesn't move out tell her to pay rent to you. Tell her she has two options 1. Go back to school and finish your degree or 2. Move out/pay rent.
Dave's right. people know what they learn, don't expect young people to magically understand the value of cheap living at home and fully understand the fear of great debt. She needs to move out to grasp the situation she's in, until then she will never have the dedication needed to start paying off these loans. She's gotta get acquainted with the cost of living and how hard she's made her life with this debt.
There is a lesson in socialism in all of this. It's about who pays the bills. The message to my kids has been: " Whoever pays your bills has the right to tell you what to do." It's that way at home and it's that way out there in the big world.
WE lock down at work... the big Garage i work in, as mechanic, No drivers, office people is in there own side.. cleaning doors and all... We eat in our special section... total lock down....(North west of Montreal.) We have to do everything possible to keep our Canadian medical system under control and HELP the NURSE and Doctors... please be safe
Colleges raised their tuition because of student loans knowing it is easy money for them and they have no responsibility putting the student in debt. Just like credit cards companies on campuses having student signup for a credit card with no consequences of making the student go in debt and having the parents pay.
Dad: she needs to get 3 jobs and work it out on her own for the next 5 years. She needs to learn the hard way; otherwise, she will never learn to earn her way in life. :)
Sadly these are common along with people who take out loans to get a degree for a degree’s sake. College should be for people who seriously know what the want to major in with scholarships and use that degree.
She is going to be living there permanently after the great depression 2. Everyone is going to start default ing on all loans. I say will be at dow 5000 soon.
Financial literacy should not be a taboo. When will our society learn? There are countless entertaining videos on CZcams that make finance fun and interesting. It's easy a child can understand it but doing it? not so much, many people don't have discipline and spend like theyre in congress smh.
Totally agree with Dave, now that mistakes have been made. However, it would have been nice for the dad to be more involved when his daughter was deciding on a college. Could have started a 529 type of account when she was born, 2, 5, whatever age would have been better. Also, 2-3 years for $100K??? She was too good for Community College? Too good for in-state tuition? But not good enough to finish college? My entire 6 years of college (with 2 at CC) was $50K and I got my degrees from the University of Washington.
@Sir We Are About to Die FYI, degrees is plural. Wife? What does that have to do with community college or in-state tuition? Did you read what I wrote at all?
@Sir We Are About to Die agreed that not everyone can do a 529, but I didn't say that was his only failing. If you can't afford a 529 like my parents couldn't, CC or in-state would have been financially more responsible, wjich is what I did. I am not sure why you think my 6 years or what I paid is only about undergraduate. I was showing you can get multiple degrees and 6 years of college for way less than what this daughter did in 2 years. Another failing of the parents to help the daughter with financial literacy.
@Sir We Are About to Die maybe it is a cultural difference. Parents are more influential in families I have experience with. And like I have been saying, my 2 years at CC and 4 years at in-state UW were cheaper than her 2 years.
It is 50/50 the mother will let him give her the boot. Either she gets out on her own and crashes and burns, or if she is good looking enough she will find a man to take her in and pay her way, being helpless for life.
I agree with Dave , but that will have him in divorce court real quick , and then his wife will take 50% of the assets and there goes his golden years . LOL
This little princess wanted to go to a $$$$ private college and play around for a couple of years. Mom is not helping out the situation by still allowing her to behave like a teenager. Dad is going to be seen as the enemy because he wants little Missy to start being an adult. Then when she’s 30 and still a financial infant, wifey will blame the husband for not stepping up and “growing up” the daughter when she was in her 20’s.
I would hate to see more of my future taxpayer money go towards the government just to pay for other people's irresponsible and stupid decisions that they made themselves in the first place...
College isn't for everyone as that's okay. There's also trade school and there is nothing wrong with working either. She shouldn't have took out loans if she wasnt going to finish college.
When I dropped out at 20, I had to move out, pay my loans on my own, and survive on my own. I now have zero degrees but have two houses and a six-figure household income at 38. I am back in college, but paying cash. It's hard, but it will make her stronger.
Good job. You should take out a student loan while you are back in college. It is 0% until you leave college. Then you can just pay it off in cash. However, you can put the loan money in a high yield savings account and grow it 1.5-2% and still pay off the loan when you leave college. I wouldn't recommend anything more risky than HYSA, but some people would invest it in index funds.
James Forinash, I already paid off my tuition. I graduate in May.
@@elmagnificodep congrats again. Huge milestone even though you are already successful. Good luck in future endeavors.
Look at all you've accomplished, you got this ‼️🙏❤️
I’m 22 you’re living my dream
why did they allow her to take out so much in debt in the first place??? Community college would be a tenth of the price.
A tenth? More like a 20th of the price. Learn your fractions
@@bobcatman334 Most 2 year community colleges are around 10k for a 2 year degree, which is 1/10th.
@@milanlabus1582No post secondary school is that cheap these days. 1000 for a 60 hour associates degree would be 16.66 per credit hour. Cheapest community college i could find in a seatch online was one in kansas that is 85 per credit hour, plus 35 for online courses, per credit hour. Then there are other per class fees. And other random fees, plus books. National average is around 3500 per year for community college tuition and im pretty sure that doesnt include fees, definitely doesnt include the books. Most people are 10 grand out of pocket for their 2 year at a community college.
Once you're 18 you can run up tons of debt without your parents' permission. Hopefully they didn't cosign their daughter's stupidity.
I bet you the caller co-signed the loans.
as a society how have we made this ok for a 20year old to take out 100k in debt....
Politicians and too much government.
Its absolutely insane
This upcoming generation will have the most homelessness out of any generation before it, because of stuff like this. Too many young people live in this digital lala land now of days and because of it many young people don't know how to deal with reality.
We need to stop babying these people. It is the parents fault. They don’t raise their kids to be good adults one day. Has nothing to do with society faults. There are some pre-teens who could do wonders with 100k from venture capitalists.
@Sunamer Z yup yup
This is what happens when society pushes everyone to go to college immediately after high school...
It's the governments fault for handing out these loans to 18 year olds who are clueless about financial responsibility. There is no provisions with student loans like there are with other loans. Just about any person can get one and that's the problem.
Yep!
College ought to require an I.Q. test. Less than 115 - no acceptance.
SteelCity1981 so what is the government suppose to do? Make a mandatory IQ test associated with student loans? There would be so many discrimination law suits. Either parents need to mature or the kids need to mature. Can’t blame the government all the time. Who do you blame when there are private lenders ?
College is fine, but parents don't really know how to teach their kids financial literacy. People who don't even try to go to college still get payday loans and such. It is a societal problem. College can be $2K a quarter if you go to a Community College to start. She would be $10-12K in debt when she realized she wasn't cut out for college. However, her parents coddled her and let her go to a $50K a year college, just to drop out. Financial literacy of the parents failed the child. Can't blame the government or an 17/18 year old for everything. The dad needs to take more ownership for his failings, but also follow Dave's advice and help her grow up.
I raised my children like I was going to be dead tomorrow.
Sir We Are About to Die nope they won’t. They are in their thirty’s now. As teenagers we helped them process their choices by asking what if we died tomorrow. How would you handle this? My kids are successful in their careers and with no outstanding debt. And we have 4 wonderful grandchildren.
@@pamclark4712 My parents did this to me Ms Pam. My mom passed away when I was 16 and dad when I was 18. I mourned and was depressed, but I had been prepared for it and was an adult. I have gone on to have my own career, invest, have no debt married now at 27 with my own home. And no they did not have money to leave behind. But the lessons and disciplined I learnt from them has been more valuable than money. You are doing it right, you are a good mom.
Good advice. I will keep that in mind forever
@@nboyd7084 well done. Very admirable. Sorry for your losses.
Pam Clark How did they handle finances growing up
I know this sounds unbelievable. But I know a few individuals who did just this. Colleges and universities are a very expensive investment. Think hard about alternative paths!
I know one who did it.
Unbelievable
Oh my goodness, hey Amos lol
$100k debt for 2 years of school???? ffs
JogBird 😂😂😂😂 right. I want more details. What school? How many credit hours? Lol
They’ll let you take out extra for living costs on some loans. That could be part of it.
That’s what happens when you go to schools who DONT want you there. They want your money not YOU. If they make you pay this much then DONT go. There are 3000 colleges yet people always go to the big named ones that DONT want them. If they make you pay 200k for 4 years that’s a sign they DONT want anything except your money.
Yup, parents obviously weren't involved until after she decided on college tuition. Parents didn't have any type of 529 plan either, so probably not financially literate either. These things should be taught in High School.
thats what i was thinking!!!!
Man I have 70k loans with a masters degree and it hurts my soul every time I login to that stupid loan website. Imagine having 100k with no degree to show for it.
what kind of work do you do?
And that's why people shouldn't go college right away unless they're ready to pursue a major.
Yeah it is a case by case thing. Many kids are killing it and should go straight to college.
cc college for the first two years save money and gave them some idea of what they want.
Martial I agree, and I tried to tell a co-worker this TWICE with each of his kids, as both were totally unsure of what they wanted to do and had zero direction. Both of them failed out of college after he shelled out 20-40 thousand dollars for them each! At least he is telling them they can pay for their own school now, but the dopes could have had a free four year degree because he was willing to pay for it!! I would have given my left leg for free college!
A lot of the classes the first two years or so are often general requirements that have nothing to do with your chosen major.
20 years old and 100K in debt. Where else craziness like this exist?
Life punishes the foolish.
@@Essays4College no, its your dumb capitalistic system that exploits.
I dated a man in college once who told me he never even opened his student loan statements. I ran the other way so freaking fast. College students are not encouraged to take their loans seriously for a reason: blind borrowers make minimum payments for life. These are adults, but parents need to do better preparing them for the scam that is the 4 year university. Enough already.
Mr. R, My wife and I only borrowed 8K$ for our 2 daughters finished college (Engineering and Business Administration ) we are very proud that they finished schooling .
College is the new house...😭😭😭😭
Honestly me going to Community College out of Pocket and decided College wasn't for me after a couple years was probably one of the best decisions I ever made
My sister did the same thing...Attended college for several years but never graduated, spent around $80,000 with interest. Only pays minimal payments now so they stop harassing her for $
Smh 🤦🏼♂️
A friend of ours just a few days ago shared that his son who is graduating from college in a few weeks will be going to dental school following graduation, and dental school will cost $400,000!!! Wow, I could hardly believe it. I thought it was the school that made it so expensive, but no, it is a public university. Unbelievable! But true!!!
I know but the idea is that after 30 years of being a dentist you will have made $5,000,000-$10,000,000 in income depending on if you open up your own dental practice.
Then you definitely have a point there. This man who is a dentist, will have a son who also become a dentist. And the now practicing dentist "inherited" his practice from his also dentist father, which in turn, grew the practice and developed it more beyond what his dad had done, with the latest advancements in technology, and has an even bigger and thriving business than his dad had. It makes sense to build a family business this way and do keep it as a medical based business. It is up to the next generation to appreciate that, however, and keep it going. There are young people growing up in family blessings who do not recognize the advantages of what they have and take advantage of the hard work of their parents and grandparents, which then can bring an end to the family business. Fortunately for this family, that is not the case with the youngest successfully accepted and on his way to a prominent and respected dental school, the same one his dad went to.
I’m glad that my older sis guided me thru college and helped me along the way. Props to her.
It's crazy how fast college can burn through $100k💰! He's gotta get moving with helping her move forward and take these loans seriously otherwise she's gonna be waiting her whole life for some kind of student loan forgiveness program.
Not to mention she'll have to pay taxes on that 100k if it somehow gets forgiven. so the bleeding just continues.
The loans won’t be forgiven so better get to work no life
The least you can do to account for that much debt is finish your degree. I hated some parts of college, but I refused to drop a class or not finish. They should not have given her the backup of giving up and living at home.
It's the parent's fault for having her take 100000 loan for a degree in basket weaving.
Exactly!!! Than to just put her on the street? These parents 😂🤣
Actually, she didn't even get to the basket weaving part yet. She only finished two years of college, so she was still taking the core requirements. She paid 100K for 2 years worth of courses that could have been taken at the local community college for around 10K.
@@kensmith2796 woowww that’s tough
Daddy has her now
She's waiting on Daddy to hand her off to Hubby
This is what happens when you raise a princess
This is why you don't give loans to people under 25!
The thing is, colleges and traditional student loans for undergraduates have pretty strict low limits. At age 20 with $100k in student loans means someone (parents probably) co-signed outside private student loans.
I am AMAZED at how many parents are such whimps when it comes to in-laws and your own freaking kids!! UNBELIEVEABLE!! Parents are not supposed to be scared to tick off their kids. I have four now adult sons and never worried about how life would be if and when I did something that irritated them. - STOP BEING WHIMPS PARENTS!!!! STOP TRYING TO BE YOUR CHILDREN'S FRIEND!!!! BE PARENTS!!!!
Dad acts like he has no idea how this happened. Did he tell her hey you shouldn't take out hundred K in student loans?
He and his enabling wife raised this entitled lazy unmotivated little princess to breeze thru life on everybody's dime! No this daughter isn't a good kid, she's a parasite and his chuckling on this call isn't a good look. Dave is right she needs shape up or ship out .
Left at 18, found out my mom was an idiot never went back. One way or another she will learn a lot.
She was probably thinking that Bernie would wipe her student loans away.
Dave, just wanted to thank you. In these uncertain times, it feels really good to be debt free. I pray that more Americans will take your advice and can feel freedom from fear in times like this.
My wife has 100k in debt and has no plan of getting out it and wants the government to forgive it, as she is a lawyer. She's playing the stupid waiting game. I'm just glad I only owe $323 to Firestone and that's it. If I have to dip squad.... so be it
You now owe this loan with your wife as you and your wife are now one.
Don’t you watch the DR show.
Her debt is now your debt once you’re married.
Good Lord! 100K in student loan debt and she is 20?? That was not even the balance on my mortgage. Scary. It will take years for her to pay.
"You must go to college at any cost no matter what or face severe punishment." Is becoming a regular saying in many American households today. Not to mention graduate in a few years when it takes a decade to complete the 100 required classes...
No no no: This is what you do to go to college and minimize the problem:
1. Complete as much AP classes as you can in high school and transfer them to college.
2. Get a job for a year between high school and college.
3. Complete as many of those "scholarships" as you possibly can during that time.
4. Go to a "2-year degree" school and focus on making progress in your selected field.
5. Now you should have completed the majority of the required classes before even entering the university you can now go to college and if you need a loan it would be $10,000 not $100,000.
hbarudi 👏👏👏👏 love this. i’m an actor and this is exactly the path i decided to take. now i’ll be graduating with about $15k of student loan debt and a commitment to pay it off within my first one or two years. i have zero idea how other actors i know are planning on graduating from art school with six figures in debt, making $30k a year with no side hustles or steady job outside of the few gigs they can book as a rookie actor, living in a big expensive city, and thinking that they’re gonna ~make it big~ when they’re too busy struggling financially. the starving artist is a myth, but the stupid millennial isn’t.
I moved out at 19 with $800, cross country to a state with no family, no friends, no finacial support, and a job making $9.25/hr.
Dont live at home longer than nessecary.
did you have roommates?
that's an interesting use of money...
The Wealth Project 😂
If the parent signed for these loans then it's the parent debt too. Now what company allows a student to take out 100k loan with no cosigner?
The federal goverment.
@@loro1rojo not really. There's a cap for financial aid and is way below 100k
Man 100k with nothing to show for it. She doesn't have much wriggle room to make any more bad financial decision, this is like a life times worth of repayments. I just feel bad that shes made a decision that gonna effect the rest of her life, but she to young and not had enough life experience to care.
I guess I did the same thing, course I payed mine off.
You watch Dave Ramsey Cody?
Big fan Cody!!
"Shes a Turkey"
[Turkey sound]
I love it when Dave swings the Hammer of Truth!
My mum did this to my brother because she's so afraid my brother will get into trouble.
The problem is my mum never let my brother out the nest (grow up) so he still ended up in serious trouble anyways because he didn't know how to manage good v.s. bad situations.
How do you use 100k in that amount of time? In canada you get loan papers annually…and renew agreements..part grants and part is loan
You know what helped me to stop enabling - a support group.
The first thing the girl needs is parents who are not her friends.
I flunk out of college twice. I could not keep up academically & I failed every midterm and final exam.😟
Can I get my loan discharge?
Just on the base that I had no business stepping foot in higher learning.
100k and didn't even finish?!? Sounds like someone is going to need to become a cam girl to pay the bills!
100K in loans...she should have been halfway through a medical degree at that price.
You paid for your children's college educations? That certainly taught them responsibility! I had to go into the military to help finance mine - without student loans.
Rock DeBoer the military pays for your college?
Unless it's changed since the 70's, if a person has served a minimum of 18 months on active duty, and been honorably discharged, the GI Bill will pay for higher education at all colleges and Universities in the country. The only exception are some very expensive private schools, and even then, it covers most expenses.
"You are not going to let her stay there and be a parasite" - Wise Words!
Yeah she would probably have been better off never going to college and just moving out
Sell the car! 🚗
Someone better hide the dog. 🐕
My god people can be soo stupid. Why would you drop out of college with that much debt? At the very least graduate and have something to show for all that debt. This isn't like dropping out of high school and paying 50 dollars to take a GED test, this is a 100,000 dollars here, that you'll never be able to take back!
This is why college will never be “free”. You are even more inclined to not finish something when it’s on someone else’s dime. He couldn’t even finish something that was on his own dime. This isn’t a rare occurrence btw. A huge % of students drop out for non-financial related issues.
I hate having 8,000 in student loans. 100k no degree dam.
Umm sir, it's called her getting a job or three to pay for herself to live, then she will learn the value of a college education if she earns a useful degree!
Well at least he didn't front $100,000 in cash for tuition and then his daughter dropped out. That's my nightmare scenario for my son, who will be entering college soon. This is why I may require him to finance at least part of his education. This guy got off easy. His daughter is on the hook for the loan at least. If my son drops out, or majors in something stupid and ends up in a minimum wage job with no future, he can pay for college himself after the fact.
Stay on top of him. Don't let him major in something stupid and make minimum wage, he will ask you for money every month. Trust me, you didn't pay for his college for him to be a deadbeat.
Basement, might be smarter to let your son pay first and then he can use his own money to decide if college is right for him!
Love Dave's "parasite" comparison to "adult" child living at home!
Yet if she was married and the husband was calling Dave about her wanting to be stay-at-home and not caring about paying the loan, Dave would go off at the husband about his "through health and sickness yada yada..." shtick
The parents are enablers.
I take it mom and dad didn't advise her about getting a student loan. She needs to find a husband, QUICK! Kidding lol
And she will find a husband, if she's anything to look at and cold enough. Many hundreds of thousands of women like that exist.
They might have and maybe she decided to do what she wanted to do
Perhaps she ought to start getting a roommate.
Her father has an obligation as a man to warn any future hubbies if she stays ignorant about her financial situation
Sounds like poor parenting finally caught up with them. Its too bad.
I didn't have parents to help me out. Even if she doesn't move out tell her to pay rent to you. Tell her she has two options 1. Go back to school and finish your degree or 2. Move out/pay rent.
She is at her peak SMV. Tell her to get on seeking arrangement.
Looks like a divorce waiting to happen. Lucky the child is already 18+
Dave's right. people know what they learn, don't expect young people to magically understand the value of cheap living at home and fully understand the fear of great debt. She needs to move out to grasp the situation she's in, until then she will never have the dedication needed to start paying off these loans. She's gotta get acquainted with the cost of living and how hard she's made her life with this debt.
There is a lesson in socialism in all of this. It's about who pays the bills. The message to my kids has been: " Whoever pays your bills has the right to tell you what to do." It's that way at home and it's that way out there in the big world.
Prepare your child for the road, not the road for your child.
How do you borrow 100k 2 years after high school
maybe she went out of state
WE lock down at work... the big Garage i work in, as mechanic, No drivers, office people is in there own side.. cleaning doors and all... We eat in our special section... total lock down....(North west of Montreal.) We have to do everything possible to keep our Canadian medical system under control and HELP the NURSE and Doctors... please be safe
Colleges raised their tuition because of student loans knowing it is easy money for them and they have no responsibility putting the student in debt. Just like credit cards companies on campuses having student signup for a credit card with no consequences of making the student go in debt and having the parents pay.
100k debt before the age of 21 😢😢
Just do what a few friends of mine did. Take out student loans and spend the money like it's an inheritance
Be strict and make her grow up. I was living on my own at 17 and it did me well. She will soon grow up
did you have roommates?
Dad: she needs to get 3 jobs and work it out on her own for the next 5 years. She needs to learn the hard way; otherwise, she will never learn to earn her way in life. :)
Its like Dave just told him that its ok to be a man for the first time in his life. Take charge dude. Learn to say no.
Sadly these are common along with people who take out loans to get a degree for a degree’s sake. College should be for people who seriously know what the want to major in with scholarships and use that degree.
She is going to be living there permanently after the great depression 2. Everyone is going to start default ing on all loans. I say will be at dow 5000 soon.
That's like delivering pizza at night for the yummy $24,000 a month for the summer...
Total drag like cleaning the cat box.
24, 000 a month?
@@taemac10literally no where pays that maybe for they year lol
What school did she go to that cost $100k and she's only 20
Financial literacy should not be a taboo. When will our society learn? There are countless entertaining videos on CZcams that make finance fun and interesting. It's easy a child can understand it but doing it? not so much, many people don't have discipline and spend like theyre in congress smh.
I joined the army on my 17th birthday and never regretted it to this day.
Thank you for your military service.
“I just have a quick question”.
That has never been true on this show.
I thought this said 10,000 and I was like that’s not so bad... Then I realized that it said 100,000 and thought oh that’s real bad.
Totally agree with Dave, now that mistakes have been made. However, it would have been nice for the dad to be more involved when his daughter was deciding on a college. Could have started a 529 type of account when she was born, 2, 5, whatever age would have been better. Also, 2-3 years for $100K??? She was too good for Community College? Too good for in-state tuition? But not good enough to finish college? My entire 6 years of college (with 2 at CC) was $50K and I got my degrees from the University of Washington.
@Sir We Are About to Die FYI, degrees is plural. Wife? What does that have to do with community college or in-state tuition? Did you read what I wrote at all?
@Sir We Are About to Die agreed that not everyone can do a 529, but I didn't say that was his only failing. If you can't afford a 529 like my parents couldn't, CC or in-state would have been financially more responsible, wjich is what I did.
I am not sure why you think my 6 years or what I paid is only about undergraduate. I was showing you can get multiple degrees and 6 years of college for way less than what this daughter did in 2 years. Another failing of the parents to help the daughter with financial literacy.
@Sir We Are About to Die maybe it is a cultural difference. Parents are more influential in families I have experience with. And like I have been saying, my 2 years at CC and 4 years at in-state UW were cheaper than her 2 years.
might've gone to a expensive school like NYU or USC or something
Only degree worth going to college for is a STEM degree.
if they kick her out she'll never be able to pay back the debt rent is way too expensive
This is stupid why would u give a student 100k in debt but not give them the same if they want 100k loan to start a business
Sounds like the mom feels guilty for not teacher her child to be a responsible adult.
Great advise
*I want you to help her have some problems*
It is 50/50 the mother will let him give her the boot. Either she gets out on her own and crashes and burns, or if she is good looking enough she will find a man to take her in and pay her way, being helpless for life.
Be a man dude
Daughter could choose a different school program, or cheaper college
I'm lucky I don't live in the US, cause otherwise this would be me
I agree with Dave , but that will have him in divorce court real quick , and then his wife will take 50% of the assets and there goes his golden years . LOL
Allow bankruptcy on college debt. It will stop, the college’s will see to that.
Everybody can do it. You just have to want to do it. Let her figure it out.
This little princess wanted to go to a $$$$ private college and play around for a couple of years. Mom is not helping out the situation by still allowing her to behave like a teenager. Dad is going to be seen as the enemy because he wants little Missy to start being an adult. Then when she’s 30 and still a financial infant, wifey will blame the husband for not stepping up and “growing up” the daughter when she was in her 20’s.
she just needs to wait until the loan gets canceled like everything else right now, and she can keep the $100K 😶
Yeah it’ll get cancelled
I would hate to see more of my future taxpayer money go towards the government just to pay for other people's irresponsible and stupid decisions that they made themselves in the first place...
Egg lol we don’t know where our tax money goes. They say stuff like that to put middle class and poor people against each other.
Cancel is for corporations
Im 28 and this sounds like me
I dropped out at 19 but im going back next year after i go to basic training for the army reserve
You dropping out?
She's convinced that sanders will be President, then everything is free and student loans will be wiped clean.
What was she going to school for?
Correct
I feel like old people be made af that the new generation is just laid back.
Yep until they are laid back on the street with nothing but their Instagram feed.
Mad** not made those are two different words
Tell her to follow your financial rules or she out. If your wife gives you grief about it, give her the same ultimatum.
College isn't for everyone as that's okay. There's also trade school and there is nothing wrong with working either. She shouldn't have took out loans if she wasnt going to finish college.