I'm $415,000 in Medical School Debt!!

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  • Опубліковано 22 сер 2024
  • I'm $415,000 in Medical School Debt!!
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КОМЕНТАРІ • 418

  • @TheRamseyShow
    @TheRamseyShow  3 роки тому +17

    Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/3g11A2V

  • @dsfgasdgqweq3456t534
    @dsfgasdgqweq3456t534 3 роки тому +266

    Are y'all even watching the video? He went to med school and is going to make 300k with two entities paying his debt for him. Sounds like medical school was a great investment.

    • @siic
      @siic 3 роки тому +40

      I know right. A lot of people is jealous I guess. Totally worth it.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 3 роки тому +11

      @@siic I completely agree.

    • @brutustantheiii8477
      @brutustantheiii8477 3 роки тому +16

      As much as I like Dave Ramsey, his mule headed refusal to recognize such things as good debt, was not only a childish muh feelings when called out by a debt collector personally, but the fact that his audience is the type of people who can’t and or won’t live within their means no matter what.

    • @LTJuni0r
      @LTJuni0r 3 роки тому +8

      Regardless of that info, does that changes Dave's logic of not going into debt?

    • @siic
      @siic 3 роки тому +31

      @@LTJuni0r going into debt is bad. That being said, how does a financially average person become a doctor without taking student loan?

  • @NursesToRiches
    @NursesToRiches 3 роки тому +380

    The amount of student debt we go into in this country is outstanding. And, the fact that it's normalized makes it even worse.

    • @jimroscovius
      @jimroscovius 3 роки тому +10

      No big deal if you pay it off quickly.

    • @melinda67
      @melinda67 3 роки тому +28

      And so? I know tons of doctors who make over 500k a year. The debt is huge but the income potential is even bigger

    • @markspan2674
      @markspan2674 3 роки тому +10

      Capitalism..got to spend money to make money. Investing in yourself as a business and you only fail when your not motivated.

    • @superblump87
      @superblump87 3 роки тому +1

      And it's worth it.

    • @rhoonah5849
      @rhoonah5849 3 роки тому +4

      @@markspan2674 There is wise investment and foolish investment. Education costs often transition from the former to the latter when the person doesn't need to lay out any costs up front and it's all make pretend money. Couple that with people taking 6-figure loans to pay for silly educations like philosophy or something equally useless because they felt entitled to go to a private college, etc. Go to community college and then commute to a state school and get the same education for a lot cheaper. Of course there are exceptions like having the opportunity to study engineering at MIT or law at Harvard.

  • @markg999
    @markg999 3 роки тому +236

    Atleast it wasn't a Tuba degree.

  • @jacobpereramd8094
    @jacobpereramd8094 3 роки тому +334

    As another resident physician, the amount of loans we have to take out to pursue our career is ridiculous

    • @User-72430
      @User-72430 3 роки тому +26

      Aannd, you make ridiculous money too

    • @jacobpereramd8094
      @jacobpereramd8094 3 роки тому +56

      Akosuagh1 Do you know how much residents make? It’s less than minimum wage if you draw it out hourly

    • @JohnSmith-gy8rc
      @JohnSmith-gy8rc 3 роки тому +45

      @@jacobpereramd8094 I think he was referring to the money you make when you finish your training. Nobody forced you into medicine so quit whining - there are literally millions of people who would swap places with you in a heartbeat.

    • @comment_account2343
      @comment_account2343 3 роки тому +18

      @@JohnSmith-gy8rc In the Bay Area, tech managers make way more than the majority of physicians. A top trauma surgeon at a major local hospital works only half time and the rest as a real estate agent. Real estate brings 75% of their income for a fraction of the time... Physicians are very much middle class and their wages keep going down every year. Yes people would switch ina heart beat, because it can be a wonderful and noble line of work. Financially speaking, I don't think that's the best proposition out there, by far. If you work smartly 120 hours a week at ANYTHING like the top surgeons do for 30 years, you will be well off. Why? because you will become the best at what you do. If you do accounting for 120 hours a week, you will become an expert at some specific issues, you might become a forensic accountant, and get paid top $$. If you work 120 hours a week in sales, you will become GREAT at sales, and start bringing the commissions. If you work 120 hours a week as a recruiter you will build a network and become a successful head hunter. If you work 120 hours a week as a plumber, you will become the best plumber out there and can charge whatever you want. You get my point.

    • @bingboone9474
      @bingboone9474 3 роки тому +2

      @@comment_account2343 Hi there Jacob, @jacob Perera MD maybe make it less obvious that this is a spare account for "commenting" lol Also I call complete B.S that surgeons work 120 hours a week for 30 years. You know why because thats over 17 hours a day. I could believe 80 hours a week, or even 90 or 100 hours a week. BUT lets no exaggerate here eh. And if they did i would not want them working on me if they were working 120 hours a week.

  • @Recovering_Californian
    @Recovering_Californian 3 роки тому +107

    In four years, when the loans are paid off (fingers crossed), use that $100K as a down payment on a nice house.

  • @wuhanlabtech3580
    @wuhanlabtech3580 3 роки тому +26

    If you can make 300k a year 415k of debt is easily doable .. just live like you make 100k till the debt is gone

    • @JudgmentDay989
      @JudgmentDay989 6 місяців тому

      Keep in mind the take home will be 60% of that

  • @LTJuni0r
    @LTJuni0r 3 роки тому +146

    Would love Dave's perspective on how he expects students to become Doctors, Dentists, Lawyers WITHOUT debt. At this point, the American education system is making this unattainable for smart and broke young people.

    • @buggintown487
      @buggintown487 3 роки тому +8

      Thank you! I wish he would speak on this.

    • @Cathy-xi8cb
      @Cathy-xi8cb 3 роки тому +26

      I don't know why they bother to call. I often wonder if they are actually med students. On the internet, you can say you are anything. Ask any practicing doctor over 40. They aren't eating beans and rice, and they aren't poor with massive debt. Once you start earning 200-500K per year, you'd have to be an idiot not to be able to pay off 400K and begin to become wealthy. And if you can pass organic chemistry, you should be able to figure it out.

    • @carloslanderos6569
      @carloslanderos6569 2 роки тому +5

      Just hopping in to say that law school isn’t worth it for the majority of schools out there. Only the top law schools have job opportunities that pay more than the debt that students take on

    • @coreywilliams1454
      @coreywilliams1454 2 роки тому +1

      @@carloslanderos6569 T14, even T25 you're virtually guaranteed to get into an Am100 and earn good money.

    • @dks13827
      @dks13827 2 роки тому +2

      @@coreywilliams1454 Corey, explain what you just said. Some of us do not know that code.

  • @Izael1701
    @Izael1701 3 роки тому +112

    As a veteran myself, I am telling this caller and ALL VETERANS to verify all verbiage on "student loan repayment" documents. Don't be surprised if your loan(s) don't qualify and the DOD failed to mention that...

    • @joyaustin6581
      @joyaustin6581 3 роки тому +9

      I’m a veteran. My tuition was covered. Gi bill was more than enough to cover rent and books. I basically got paid to go to school.

    • @Izael1701
      @Izael1701 3 роки тому +23

      @@joyaustin6581 GI Bill is different from loan repayment program...
      GI Bill paid for most of my Masters.

    • @taylorsmith9629
      @taylorsmith9629 3 роки тому

      @@joyaustin6581 doesn’t mean it will be covered in HIS case

    • @johnc2438
      @johnc2438 3 роки тому

      Should be able to manage school costs using the G.I. Bill. If you need other income, work part-time and cash-flow the rest. This is how I did it. Finished four years with zero debt.

    • @Izael1701
      @Izael1701 3 роки тому +4

      @@johnc2438 Again, GI Bill is NOT the same as the repayment program...

  • @j.m0ney133
    @j.m0ney133 3 роки тому +47

    There is something wrong with our county when education costs go up double from inflation. It is so wrong in so many ways.

    • @Ygnez
      @Ygnez 3 роки тому +2

      It would be fine if it would only be double...

    • @blackworldtraveler3711
      @blackworldtraveler3711 3 роки тому +3

      Also something wrong when people sign up for these things without use of brain.

  • @JustinCase780
    @JustinCase780 3 роки тому +45

    Less expensive than the girlfriend from Ukraine!

  • @lancealquran827
    @lancealquran827 3 роки тому +72

    He needs to consider the interest building up on the student loans. At 415K it would be around 30k per year with the average US fedloan interest rate being 6-7%.

    • @An-Engineered-Journey
      @An-Engineered-Journey 3 роки тому +3

      That is a good point. Seems like he could use all six years factoring in the interest

    • @jherc12990
      @jherc12990 3 роки тому

      he could save up 100k and pay off the interest while his employers helps him pay them off.

  • @i.k5143
    @i.k5143 3 роки тому +59

    At least he's not a chiropractor.

    • @elizabethparsons1071
      @elizabethparsons1071 3 роки тому +7

      I dunno, my chiropratcter charges £33 for 10 minutes and she is popping in and out of rooms all day..... She is making bank

    • @blackworldtraveler3711
      @blackworldtraveler3711 3 роки тому +5

      I prefer a physical therapist over chiropractor.
      I want prevention not after the damage is done.
      A chiropractor broke the neck of a coworker I worked with years ago.

    • @1967davethewave
      @1967davethewave 3 роки тому +2

      @@elizabethparsons1071 But an actual physician charges $200 for 10 minutes and is in and out of rooms all day. So there's that, lol!!!

    • @harlenkelly7331
      @harlenkelly7331 3 роки тому

      @@1967davethewave You just made that up.

    • @1967davethewave
      @1967davethewave 3 роки тому

      @@harlenkelly7331 OK, the doctors I know charge that kind of money. Since I am in a family of medical professionals I'm just going off what I'm told but a physician makes way more than an chiropractor and that's a fact.

  • @MillionaireMindsetClub
    @MillionaireMindsetClub 3 роки тому +50

    Hope whoever is reading this accomplishes financial FREEDOM, wealth, and is blessed with true happiness!

  • @doublet8142
    @doublet8142 3 роки тому +41

    Wow... I don't have any debt.. but still struggle to pay eveyday bills.. can't imagine having this kind of debt...😆

    • @walshsun3289
      @walshsun3289 2 роки тому +2

      He makes so much money, so the debt is paid off soon

    • @MarksTournaments
      @MarksTournaments 2 роки тому

      @@walshsun3289 you'd be surprised

    • @princetonscholar5723
      @princetonscholar5723 11 місяців тому

      Few physicians “struggle to pay bills” on hundreds of thousands dollars/year.

    • @wadeharris348
      @wadeharris348 11 місяців тому

      Yea usually people who make a lot of money spend a lot of money and just feel like entitled to spend it because they make a lot. Their mentality is, well I have a prestigious degree so I’m justified and I know I can just pay it off anyways. Let’s just ball out.

  • @rp1268
    @rp1268 3 роки тому +16

    Medical school debt is the best student debt you can have. No other degree has the average salary expectancy and security as a medical degree. I’ve yet to meet a poor doctor. Once you’re done with fellowship you can pay that debt off quickly which can’t be said for 95% of other student debt.

    • @k_kelsey
      @k_kelsey 3 роки тому +3

      You’ve yet to meet a poor doctor? They are everywhere.

    • @Cathy-xi8cb
      @Cathy-xi8cb 2 роки тому

      @@k_kelsey We don't have any poor private practice docs in NY unless they are rural. Poor docs in public service facilities and clinics? Sure. Bad place to land if you have loans.

    • @ntl3352
      @ntl3352 Рік тому

      And yet they are always complaining. They think they are special

    • @princetonscholar5723
      @princetonscholar5723 11 місяців тому

      Facts.

  • @josuejasso7589
    @josuejasso7589 3 роки тому +33

    Sell the the degree

    • @siic
      @siic 3 роки тому

      He is making 300k a year. He will do great

  • @sami-9233
    @sami-9233 3 роки тому +27

    Notice how you dont ever get calls from medical students being half way through their education calling in
    Because then Ramsey would be forced to say drive Uber and door dash through the rest of college

    • @MBryantFFNY
      @MBryantFFNY 3 роки тому +14

      Good catch. So aside from obvious scholarships, financial aid, or daddy’s money.. I wonder what his response is for those who want to pursue a medical or law degree and haven’t started yet. How do you possibly work a job with the academic workload that doctors and lawyers have in order to go through school debt free. Impossible.

    • @michaelatheharpist
      @michaelatheharpist 3 роки тому +4

      For med school, you can do an MD-PhD that covers your cost and pays you a living stipend for both degrees. It's hard to get into but it's also hard to pay off 400k in debt

    • @DavidRamseyIII
      @DavidRamseyIII 3 роки тому +4

      Or you don’t do it. You aren’t entitled to become a doctor just because you want to be one

    • @zachwalters8001
      @zachwalters8001 3 роки тому +3

      Dave has had a few calls like that. And he never really has a clear cut answer. A few of them he suggests MD/PHD, military, or I’ve heard him mention look for a hospital that will pay for it (which doesn’t really exists). He beat around the bush big times on those calls.

    • @Cathy-xi8cb
      @Cathy-xi8cb 2 роки тому +4

      @@zachwalters8001 Yeah, I love that "Find a hospital that will pay for your schooling". I think Dave forgot it isn't 1992 any more. We used to get a stipend for continuing ed. Now we are a drag on the facility's bottom line. The world of healthcare has changed. He is right about the military, though. Most of the docs I know couldn't have passed basic. And you still have to be very very bright to be a doc.

  • @thomascoleman7708
    @thomascoleman7708 3 роки тому +17

    I'd flee the country if I owed $400K in student loans.

    • @leadnsteel1428
      @leadnsteel1428 3 роки тому +8

      Its like a mortgage payment and add interest on it too good god.
      I hope he doesn't do other stupid things like buy a crazy expensive house or fancy Mercedes

    • @imdoc7872
      @imdoc7872 3 роки тому

      Most graduating doctors have this much debt

    • @merrymaurader2521
      @merrymaurader2521 3 роки тому

      Thé FBI will track you down

  • @deontesmith36
    @deontesmith36 3 роки тому +17

    Jesus I didn’t know the Army Reserve had such a sweet repayment deal

  • @mathisnotforthefaintofheart
    @mathisnotforthefaintofheart 3 роки тому +42

    Kudos to the new introductory tune. It is so much appealing than the old "aggressive pop/rock" tune from the past. Now for the medical debt. Live 10 years on a median income and forget about the typical "rich doctor's" life style and with 200K a year, I don't see how you can't pay off this debt. Again, live in a NORMAL house and drive a NORMAL car (couple of years old used Camry?) and you ought to be fine. Also, if you are willing to work in underserved (needy) areas, you may be eligible for some relief on your loan. Options...options

    • @ernestogalvan143
      @ernestogalvan143 3 роки тому +3

      Nobody becomes a dr to serve the needy or drive a Camry

    • @peterhoffman8525
      @peterhoffman8525 3 роки тому +2

      @@ernestogalvan143 There are a few out there! We know one personally! Rare, indeed, though and I do agree with your suggestions.

    • @DJ-ws6je
      @DJ-ws6je 3 роки тому

      Stop telling people what they should buy. This isn’t communism.

    • @brutustantheiii8477
      @brutustantheiii8477 3 роки тому +4

      THANK YOU. I got tired of that blasting jingle. Got old and annoying really fast

    • @mathisnotforthefaintofheart
      @mathisnotforthefaintofheart 3 роки тому

      @@DJ-ws6je Exactly, this isn't communism. So as a starting doc, live within your means to pay off debt and then you can "scale up" if you wish. Thanks for your wonderful "input"

  • @maxxlaw4081
    @maxxlaw4081 3 роки тому +25

    Good luck! I got caught up in that trap! People, you are being played.

    • @shareworthy5720
      @shareworthy5720 3 роки тому +8

      Which trap? Getting someone else to pay for your student loans and making 300k a year in the very near future?

    • @johndone8045
      @johndone8045 3 роки тому +2

      What trap? Or u didnt read the fine print on all the terms and condition

  • @justincaldero5174
    @justincaldero5174 3 роки тому +40

    I watch these videos to remind me to never go back to school, continue to work my blue collar job while running my vending business, and diversify my investments

    • @joshuaswanson4789
      @joshuaswanson4789 3 роки тому +2

      How much do you make on your vending business?

    • @billsussman1073
      @billsussman1073 3 роки тому +2

      Some blue collar jobs have tuition reimbursement bennies my friend. I turn wrenches for a living and i go to school for free. Just have to pass the class to get the reimbursement for it.

    • @annajones9701
      @annajones9701 3 роки тому

      What blue collar work do you do?

    • @boston6781
      @boston6781 3 роки тому

      Yes I agree. You more than one income source if you want financial independence. I am working on my third.

  • @GottuboiBeachVolleyball
    @GottuboiBeachVolleyball 3 роки тому +5

    “Good lord!” -Dave Ramsey. That says it all. 😁😕

  • @sararlgarrett
    @sararlgarrett 3 роки тому +5

    SMART MAN! I joined the Army 20 years ago and had THREE degrees paid for 100% FREE for me. Best decision I ever made was serving my country in this capacity.

    • @Ink30
      @Ink30 Рік тому

      Can't beat it

  • @CardenFinancial
    @CardenFinancial 3 роки тому +35

    300K salary for family medicine does not sound right.🤔

    • @Primitivegarage915
      @Primitivegarage915 3 роки тому +11

      I agree. But Tulsa is an underserved location they might make more. Here in Texas they make anywhere from 180-240k. 300k for a new family doc is unheard of

    • @user-td7xf3gz4l
      @user-td7xf3gz4l 3 роки тому +2

      Sounds right to me

    • @3munchenman
      @3munchenman 3 роки тому

      Fun fact: Oklahoma has the best paid doctors of any state in the country.

    • @silent_anon404
      @silent_anon404 6 місяців тому +1

      With inflation, it seems reasonable, tho on the high end. The guy must be working in a rural/undeserved area.

    • @user-lu6yg3vk9z
      @user-lu6yg3vk9z 5 місяців тому

      It’s not 180k-200k is the average

  • @ortega6211
    @ortega6211 3 роки тому +59

    It's ironic that at the time in history when the most free knowledge is available, we are paying so much for validation.

    • @mathisnotforthefaintofheart
      @mathisnotforthefaintofheart 3 роки тому +24

      Do you prefer to have your surgery done by a quack who learned everything free from the internet, or by a board certified surgeon who went through extensive medical training? What's next? Bring it on...

    • @jackbritt7334
      @jackbritt7334 3 роки тому +4

      @@mathisnotforthefaintofheart Yeah he’s right generally but this one isn’t the best example to make that statement lol

    • @ortega6211
      @ortega6211 3 роки тому +3

      ​@@mathisnotforthefaintofheart Do you prefer to have your surgery done by a surgeon who is formed outside of USA university madness, or by a surgeon who paid an overpriced education to read the same books any other surgeon in the world will be formed with? By the way, in my opinion medical studies is the only field an institution is needed. Anything else can be learned with a 100$/mo Internet conection.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 3 роки тому +2

      @@mathisnotforthefaintofheart First of all, your propaganda is good. Doctor's in the USA are not better then other countries. My mom fell sick in FL, she was in the ICU for 16 days... we begged the insurance company to use a air ambulance and fly her to Montreal (where she lives) for treatment... they finally OK our request. She arrived in Canada, taken the to the hospital and two hours later she was in surgery and they saved her life, 100% she would have died if she stayed at the hospital in FL. It was 18 hours of surgery over two days. I am not saying one hospital is better then the other but I will say one doctor could be better then the other and it does not matter which country that doctor is from.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 3 роки тому

      @@ortega6211 Before Obama care I had a family member who traveled to many other countries to exam cost of medical procedures... there was a point in time with so many not being insured that it was cheaper to fly to a country, vacation for two weeks and have your surgery. In South Korea, he noted that surgeons would routinely give you their personal phone number and requested you call them if there were any complications after surgery... do you think this happens here?

  • @MsLucky443
    @MsLucky443 3 роки тому +14

    People try to keep student loans to extremely low.
    Also be careful on medical advice that does not make sense. Second opinions are good too. 🚨

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 3 роки тому +1

      A very smart person once told me SURGEONS LIKE TO CUT... And I went to a surgeon and sure enough he recommended unneeded surgery to me. It is almost like going to a hair dresser and asking them if you need a hair cut.

  • @michgoldenukeje8185
    @michgoldenukeje8185 3 роки тому +34

    That's pretty high. But better than an underwater basket weaving degree.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 3 роки тому +3

      I have a family member who has a degree in African Drumming. I AM NOT LYING. After she did a 3 year silent retreat in AZ then went to Tibet and became a lama. She was a honor student and is VERY VERY smart. Her parents paid 100% of her schooling (very wealthy from CA of course). She now is a Tibetan translator for some famous lama in the US. What is funny is that the famous lama talks and understands English but having a translator makes him perceived to be prestigious and holey.

    • @Cathy-xi8cb
      @Cathy-xi8cb 3 роки тому +1

      I know someone who had the gov't (read: you and I) pay for her community college degree at 50. Low income, fired from a dead-end retail job. She took Italian, English literature, and economics. It was a lot of fun for her. She is still working off the books doing exactly what she was doing before. And you and I paid for all of this. Feel taken much?

  • @jeffmorse5599
    @jeffmorse5599 3 роки тому +5

    don't live like a doctor for the first 10 years. no beemers, 4000sf houses and other normal show off doc buys. should pay it off quickly.

  • @VintageStereoCollector
    @VintageStereoCollector 4 місяці тому +1

    $400k something thousand debt-Good Lord lol 😂

  • @dabd8175
    @dabd8175 3 роки тому +7

    DID AO get kicked off or something? He isnt in the recommended channel list anymore for any all the UA-cam channels

  • @pimpballer3
    @pimpballer3 3 роки тому +11

    What about interest? He will owe 600k by the time it’s all set and done

  • @happilysmpl
    @happilysmpl 3 роки тому +22

    Fantastic thinking and solution by Dave. Thinking of all possibilities

    • @richardgentry6996
      @richardgentry6996 3 роки тому

      Always think about the worst thing or things that can happen The Big Picture.

  • @umairahmad4711
    @umairahmad4711 3 роки тому +12

    Being a doctor is bloody worth it in the USA but in the UK it shouldn’t be taken lol 😂

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 3 роки тому +1

      Cause they cap their salary. Why do you think so many doctors from other countries come here. I feel their salaries should be doubled and that would still be 1/3 of what they get paid here. It is highway robbery in the USA. Do you have any idea how many people go bankrupt from medical expenses... ALOT!!!

    • @annajones9701
      @annajones9701 3 роки тому +1

      I was going to do medicine but then realised doing maths and finance I could make way more much faster

    • @balthezor
      @balthezor 2 роки тому +1

      @@johnSmith-uz8nl You think it's the physician's fault? How about insurance companies? Administrators on Zoom meetings? Clueless.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 2 роки тому

      @@balthezor so you r comparing fraud, crime that takes away and use to incompetence and red tape that only use.

  • @ratumelimatanatoto2488
    @ratumelimatanatoto2488 3 роки тому +12

    Dave Ramsey is the man.

  • @joziewales1965
    @joziewales1965 Рік тому +5

    The biggest secret to getting through med school is joining the military

  • @toyarj37
    @toyarj37 5 місяців тому +2

    If the average med school debt is 250k how did this guy get almost double that? Crazy. That’s a whole house

    • @eatsalad728
      @eatsalad728 19 днів тому

      nope its 300 and above im pretty sure

  • @littleraeofsunshine
    @littleraeofsunshine Рік тому +2

    Dang. How did he manage to get TWO outside sources to pay. That's impressive.

  • @jayafow84
    @jayafow84 2 роки тому +3

    No wonder we can't afford to go to the doctor. They need to pay their loans off and their Merced

    • @ntl3352
      @ntl3352 Рік тому +1

      They put the debt on us and make way more to finance their luxury cars. They are spoilt brats.

  • @nmc1859
    @nmc1859 3 роки тому +6

    I like this cohost. He's respectful of dave and the callers and adds to the show !! 💖🙏

  • @eddyvideostar
    @eddyvideostar 3 роки тому +1

    I saw the title: If it takes all of this just to get ahead, I'd rather cut back, give a head, and get powerful long-term anesthesia.

  • @Pupsterization122
    @Pupsterization122 6 місяців тому +1

    Wait what did he do for the military to want to pay that much of his debt off

  • @nameinaframeindy
    @nameinaframeindy 3 роки тому +21

    I really like having George on the show. Great radio voice I can actually stand

    • @Kysen10
      @Kysen10 3 роки тому +1

      lol

    • @shawnm9237
      @shawnm9237 3 роки тому +1

      @@Kysen10 yea I agree he’s bad

  • @justinstone4476
    @justinstone4476 10 місяців тому +2

    300k for primary care?

  • @bettysmith4527
    @bettysmith4527 3 роки тому +2

    Ouch, that is is so painful to hear! It's a shame...

    • @choreomaniac
      @choreomaniac 3 роки тому

      Why is it painful to hear that someone who is making $300k to start AND having 90k in loans paid off by the Army reserve and state of Oklahoma for a total income of $390k per year needs to pay off $415k in loans?
      In four years the loans will be paid by someone else and his salary will be $500k per year. In that time he will have earned 1.2 million, which is more than some make in a lifetime. I would love to be in that “painful” position of “shame”.

  • @cerbico12
    @cerbico12 3 роки тому +4

    Good luck. Between student loan debt, medical malpractice and taxes I have no idea why anyone in their right mind would go to med school.

    • @ntl3352
      @ntl3352 9 місяців тому

      If they are not in their right minds how do they end up acquiring mansions and luxury cars

  • @twillybbe
    @twillybbe 2 роки тому +1

    This is really good advice

  • @RRK1
    @RRK1 3 роки тому +2

    Serious question - how exactly did this problem occur? I went in the 90s and it was less than 10k for four years. How is this even possible. That was a 4 year degree at a state school. Why????

    • @discorabbit
      @discorabbit 2 роки тому +2

      Tuition has gone up dramatically since then.

  • @ShowzUp5
    @ShowzUp5 3 місяці тому

    im just finished my second year of medical school and Im already 210k in debt. thats one of my reasons for choosing a surgical specialty, bc i need to be able to pay off what it cost to get here

  • @mercedes7566
    @mercedes7566 3 місяці тому

    For the nondocs in the comments just some clarification. Medical school debt free is only attainable if you have coverage for your tuition and living expenses. Medical students are generally not allowed to work so the schools borrow for tuition and a special loan to cover your living expenses. The loans are super higher now bc the government no longer subsidizes the interest while we are in school. Residency is not a good time to start pay back bc you make just enough to keep a roof over your head, eat and get to work. It would be much better if the CMS would build in additional funds to residents to start payback nd not just deferment. Family docs who make more are generally seeing private insurance patients and/or Medicare but not usually Medicaid. For the new residency grads on the thread, you can negotiate loan repayment as a benefit in ANY permanent job contract. Get a lawyer to negotiate the terms. That 500 - 1500 dollars can save you hundreds of thousands down the line. You can direct your sign on and retention bonuses to loan repayment as well. The biggest thing of course is saving more than you spend but these tips can help a huge deal too.

  • @One-12937
    @One-12937 3 роки тому +4

    These people be like, I’m in 415 in student loans but only make 275, what should I do, oh nooooo.

    • @aprilmcclellan1248
      @aprilmcclellan1248 3 роки тому

      It's the same as someone who makes $27,500 a year being in debt $41,500.

    • @coltsgood99
      @coltsgood99 3 роки тому +1

      @@aprilmcclellan1248 not exactly. You could leverage much greater amounts of money and therefore earn/lose substantially more/less simply by having more cash to utilize, so having 415k in student loan debt with 275k would actually be more optimal if you used the extra money wisely

    • @mike112693
      @mike112693 Рік тому

      it's still a problem, student debt is flying thru the roof

  • @BlessedbytheKingofKings
    @BlessedbytheKingofKings 3 роки тому +18

    Wow that’s a lot of debt!! 😳

    • @maricelg777
      @maricelg777 3 роки тому +2

      He is a doctor

    • @maricelg777
      @maricelg777 3 роки тому +5

      @@wackkawack6640 he can pay it easily with his salary.

    • @mike112693
      @mike112693 Рік тому +1

      @@maricelg777 the debt is still a problem. physician salaries havent kept up with student loan debt

  • @inthebooks3947
    @inthebooks3947 3 роки тому +3

    Who’s that guy on the left lol

  • @jacobsmithjr
    @jacobsmithjr 3 роки тому +13

    I tell people to join the military all the time to get their debt paid off

    • @kara2162
      @kara2162 3 роки тому +8

      Small detail: you put your life on the line. Literally.

    • @JamesSmith-cm7sg
      @JamesSmith-cm7sg 3 роки тому

      @@kara2162
      To save and help others

    • @blackworldtraveler3711
      @blackworldtraveler3711 3 роки тому

      @@kara2162
      When I joined the military I was at Lockheed and NASA.
      All about choices.

  • @jeffreyabbey9592
    @jeffreyabbey9592 3 роки тому +1

    "Ouch" is right....

  • @nkyryry
    @nkyryry 3 роки тому +23

    I’ll say it right now for any medical school hopefuls... if you’re going to have to sign up for almost half a million dollars in student loan debt, being a doctor is not worth it.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl 3 роки тому +11

      Yes, just tell that to all my MILLIONAIRE DOCTOR FRIENDS... I wish I had their wealth. Please show me a poor doctor at the age of 65... JUST ONE!!!! IMHO, you are SO WRONG.

    • @ilyaibrahimovic9842
      @ilyaibrahimovic9842 3 роки тому +1

      Can we hear your justification?

    • @Swedetwin
      @Swedetwin 3 роки тому +3

      Untrue. Becoming a physician should not be confined to wealthy families. If a physician is committed to paying off this huge debt by leading a modest lifestyle, it's not a problem at all.

    • @brutustantheiii8477
      @brutustantheiii8477 3 роки тому +1

      As much as I like Dave Ramsey, his mule headed refusal to recognize such things as good debt, was not only a childish muh feelings when called out by a debt collector personally, but the fact that his audience is the type of people who can’t and or won’t live within their means no matter what.

    • @ilyaibrahimovic9842
      @ilyaibrahimovic9842 3 роки тому

      @@brutustantheiii8477 how then do you account for all the people who go debt free under the guidance of him and his staff?

  • @TheRealHarsjan
    @TheRealHarsjan 3 роки тому +3

    Shout out to all my Tuba degree holders!!

  • @JohnSmith-gy8rc
    @JohnSmith-gy8rc 3 роки тому +21

    $300k as a family physician is, um, optimistic.

    • @ethanmerritt121
      @ethanmerritt121 3 роки тому +4

      not really 248k is national average, all it takes is an underserved area to be at 300k

    • @JohnSmith-gy8rc
      @JohnSmith-gy8rc 3 роки тому

      @@ethanmerritt121 Average for FP is 231k nationally.

    • @pikusarker1359
      @pikusarker1359 2 роки тому +1

      @@ethanmerritt121 is it pretax or post tax?

  • @jacobwaddell6075
    @jacobwaddell6075 Рік тому +2

    Doctors taking out $400k is pay to play, an investment unto yourself, to advance your career and make some of the highest income in all career fields. I don’t get the logic entirely it’s like we are treating them like they are $400k in the hole and they are an English teacher haha

  • @miloodidi
    @miloodidi 7 місяців тому

    I’m so grateful I’m from Argentina I’d studied in UBA and got my degree for free I’m current a doctor in my residency and they pay me well good lord

  • @Primitive_Code
    @Primitive_Code 3 роки тому +2

    Where's Anthony? this is right up his ally. Taking out student loans, being in debt. He wrote a book on this stuff.

    • @random-nz7dy
      @random-nz7dy 3 роки тому +4

      Has been gone from the show for a long time. No one knows why

    • @Primitive_Code
      @Primitive_Code 3 роки тому

      @@random-nz7dy seriously? His picture still on the UA-cam cover page of this channel.

    • @random-nz7dy
      @random-nz7dy 3 роки тому +1

      @@Primitive_Code he's been gone awhile. His channel no longer advertises Ramsey before the videos but apparently he's still affiliated?
      It all changed after he.posted about going on a vacation in social media over a month ago. Since coming back seems to be like somewhat mildly distanced from Ramsey..but not fully?

    • @wittenberg5
      @wittenberg5 3 роки тому +3

      He didn't master his craft. Watch his videos... he bungled the baby steps several times and Dave had to correct him. Other than that he would often just sit quietly beside Dave and look bored. Lesson for us all: never get complacent. There's always somebody else who wants your spot!

    • @nickbroadhurst5924
      @nickbroadhurst5924 3 роки тому +1

      Obviously, George has replaced him.

  • @remysonders406
    @remysonders406 3 роки тому +3

    I hope he makes that

  • @drg3915
    @drg3915 3 роки тому +3

    Where in America can an FP Doc make $300k?

    • @Cathy-xi8cb
      @Cathy-xi8cb 2 роки тому

      Just about everywhere, except urban public health and rural locations.

    • @discorabbit
      @discorabbit 2 роки тому

      Midwest

    • @mike112693
      @mike112693 Рік тому

      @@Cathy-xi8cb actually rural locations would pay more

  • @warwagon
    @warwagon 3 роки тому

    The CoHost looks like Martin Starr off Silicon Vally

  • @tajiri7
    @tajiri7 3 роки тому +3

    There was a time where these schools didn’t take you seriously unless you came from a wealthy background. There were reasons for that, now it’s called “discrimination”.

  • @wittenberg5
    @wittenberg5 3 роки тому +4

    Haven't seen much of Anthony on the show lately. He should've spoke up more often and learned the baby steps better.

  • @James-vj5hz
    @James-vj5hz 3 роки тому +7

    Is this the new Anthony ?

    • @blackbutterfly233ify
      @blackbutterfly233ify 3 роки тому +2

      What happened to Anthony?

    • @hollyb6885
      @hollyb6885 3 роки тому +3

      @@blackbutterfly233ify Yeah I thought the same thing. What happened to Anthony?

    • @kara2162
      @kara2162 3 роки тому +1

      Anthony has been made obsolete and if he hasn't this doesn't look good.

    • @wittenberg5
      @wittenberg5 3 роки тому

      Unfortunately he didn't master his craft. Watch his videos... he bungled the baby steps several times and Dave had to correct him. Other than that he would often just sit quietly beside Dave and look bored. Lesson for us all: never get complacent. There's always somebody else who wants your spot!

  • @mokal4963
    @mokal4963 3 роки тому +1

    Ridiculous that amount of loan, why he doesn’t go to medical school in another country.

    • @jeanine6492
      @jeanine6492 3 роки тому +3

      Because America doesn’t accept a lot of other countries medical degrees, plus international student fees are way more than locals in most countries.

  • @pi37
    @pi37 3 роки тому

    Please let people know if you pay College or University out of pocket. You get it back when you file your Taxes. Get informed!

  • @TheAgentmigs
    @TheAgentmigs 3 роки тому +1

    Save 100k bucks in savings? Sounds like a plan...

  • @locomonkey7839
    @locomonkey7839 Рік тому

    Why was your debt relatively smaller. I really want to be a physician but the debt is the only thing holding me back

  • @edhcb9359
    @edhcb9359 9 місяців тому +1

    Dave totally missing the point. 😂

  • @DoctorSmartyPants
    @DoctorSmartyPants 3 роки тому +3

    According to zip recruiter, ave salary for family practice physician in Oklahoma is 175k.

    • @666dynomax
      @666dynomax 3 роки тому

      Not much considering the cost and length of time they're not in the workforce because they're in school

    • @DoctorSmartyPants
      @DoctorSmartyPants 3 роки тому

      @@666dynomax yes, and caller stated he would be making double that.

    • @CharlesCherian
      @CharlesCherian 3 роки тому

      @@DoctorSmartyPants he also said he'd be working two jobs

  • @morningmona
    @morningmona 9 місяців тому +1

    No family medicine doctor is making 300k a year. They are the least paid doctors next to pediatricians. There are nurses that make much more than family docs.

    • @areufkingkiddingme
      @areufkingkiddingme 6 місяців тому +2

      You are incorrect. My colleagues are family medicine Hospitalists. Base salary is 320k one week and one week off

  • @Min-Pins
    @Min-Pins 3 роки тому

    Should’ve spent that money on pulsechain

  • @FAISAL.007
    @FAISAL.007 3 роки тому +1

    you making 300k, just work 4/5 years and you can be debt free by yourself

  • @FF_GAMEZYS3861
    @FF_GAMEZYS3861 3 роки тому +13

    """LET S PRAY For Those children's who does not have their parents they are real legend 💖💖

  • @mikebrownbassist802
    @mikebrownbassist802 3 роки тому

    4:51 So…his opinion is to just say everything Dave said…ok, lol

  • @tubenachos
    @tubenachos 10 місяців тому

    Doesn't that debt pay other medical doctors??

  • @ntl3352
    @ntl3352 Рік тому

    Isn't it annoying to see all these doctors complaining about debt when you are paid over 200 -300 k salaries a year. People with PhD in more difficult subjects don't even earn a third of your incomes. Just shut up

  • @randymorrison1761
    @randymorrison1761 2 роки тому

    Where would having this $100k place him on the baby steps? Should he still have an emergency fund beyond that?

  • @zach1747
    @zach1747 3 роки тому +14

    god, the US school system is amazing isn’t it!

    • @mathisnotforthefaintofheart
      @mathisnotforthefaintofheart 3 роки тому +2

      Its amazing if you know how to navigate through it. Most don't. I work in academia and I am baffled by the knowledge students have about their phone and the Kardashians, but don't know the course they are going to take next semester.

    • @blackworldtraveler3711
      @blackworldtraveler3711 3 роки тому

      I'm amazed by the stupid people that only know getting student loans as only option.

  • @Cab895
    @Cab895 3 роки тому +2

    They will not stack. Part of most loan repayment programs make you clearly specify that you are currently not in another loan repayment program

    • @danielcamacho5519
      @danielcamacho5519 3 роки тому

      Yeah it’s like trying to use two coupons at once 😄😆 usually doesn’t happen but hopefully 🙏

  • @ItsameBS
    @ItsameBS 3 роки тому +7

    Medical School Debt is how big pharma gets the medical field to do what they want.

  • @darian6485
    @darian6485 8 місяців тому

    And here I’m upset I only got 5,000 in debt of student loans haha but yeah I tend to pay it off but I honestly don’t know how I was never taught bout this stuff I immediately hop into college after graduating and only did 2 years until I stopped going in 2020 I went to BC3 it’s a community college I only went to try to make my mom proud cause she basically made me feel like college is the only route to success and without it you are nothing

  • @augustinaonuwundijo9580
    @augustinaonuwundijo9580 3 роки тому

    Wow that alot

  • @crysis63
    @crysis63 3 роки тому +2

    Rice and beans bro...

  • @shawnm9237
    @shawnm9237 3 роки тому +1

    Idk about anyone else but I don’t like the minimalist hippies

  • @janetcross2797
    @janetcross2797 3 роки тому

    Get answer

  • @kara2162
    @kara2162 3 роки тому

    Ouch..

  • @ntl3352
    @ntl3352 Рік тому +1

    Whats wrong with doctors having 200k student loan debts when you have earning potentials of over 300k annually. Im tired of doctors complaining. All these debts are passed on the poor to pay by high medical bills. How many people with PhD in more difficult subjects with same amount of years spent in education have a third of salaries earn by doctors? Who do these doctors feel they are?

    • @0doublezero0
      @0doublezero0 4 місяці тому

      Because PhDs can get their tuition paid off on top of a salary via TA or RAships's during school, MD/DOs don't. So you are debt-free while in school. Med students have to take out loans since they don't get the same opportunities to knock out their debt in school. Plus you don't have to do a post-doc, you can work in industry jobs just fresh out of school. MD/DO need residency and thus can be trapped with that debt if they don't match into residency. PhDs have far less risk when pursuing their degree than a MD/DO. I still think PhDs should be paid more and have every right to complain about it, but the only worry a PhD has is graduating. The reason why you never hear a PhD complaining about debt in STEM is that their ways to knock that out during their degree...

    • @ntl3352
      @ntl3352 4 місяці тому

      @0doublezero0 how many phds do you see earning even a 100000. Will doctors prefer their fees to be paid by government and earn like phds? They will all say no. Even primary care physicians earn more than double what most phds earn. Specialist earn more than 300000. Doctors in america are becoming too greedy. I wish the government will pay their fees so that they earn normal salaries like others.

  • @rethinkcps2116
    @rethinkcps2116 3 роки тому

    No tax on those payments

  • @thomasjefferson5727
    @thomasjefferson5727 2 роки тому

    I cannot fathom making 300k a year.

  • @millsathn
    @millsathn 3 роки тому +5

    Ah yes. American freedom. Where you can’t breath due to student loans.

    • @jimroscovius
      @jimroscovius 3 роки тому +1

      Then don't borrow. Save and pay as you go.

    • @machintelligence
      @machintelligence 3 роки тому

      @@jimroscovius Oh come on. You cannot go to medical school on what you can earn while in school.
      Even as a resident they pay more than poverty wages (high five figures.) As an attending physician you will make in the low to mid six figures. Having half a million in student debt is entirely manageable if you don't start to live high on the hog before your higher income starts.

    • @blackworldtraveler3711
      @blackworldtraveler3711 3 роки тому +1

      Freedom to sign up for student loans.
      All about choices.

    • @jimroscovius
      @jimroscovius 3 роки тому

      @@blackworldtraveler3711 Absolutely!!

  • @70s80sVintage
    @70s80sVintage 3 роки тому

    Just....WHY?

  • @kylemonkiewicz2803
    @kylemonkiewicz2803 Рік тому

    two word debt slavery no school should charge that much ridcusioly

  • @DeltaLou
    @DeltaLou 3 роки тому

    And now here is your 80K salary. Enjoy haha

  • @DebtFreeDoctorJeffAnzalone
    @DebtFreeDoctorJeffAnzalone 3 роки тому +6

    As a PERIODONTIST that had $300K in debt, if I could go through training again, I'd IMMEDIATELY start focusing on growing multiple passive income streams each year along with paying down student loans. I you're a doctor, lawyer, etc. then you can do BOTH, pay down debt aggressively and invest.

    • @annajones9701
      @annajones9701 3 роки тому

      What multiple asset streams?

    • @jeffreyanzalone3755
      @jeffreyanzalone3755 3 роки тому +2

      @@annajones9701 Personally I invest in passive real estate syndications deals. It allows me to focus on treating patients yet reap the benefits of real estate such as passive income and tax benefits.

  • @DaveM-FFB
    @DaveM-FFB 3 роки тому +6

    Wow, $415K. I'd like to see the breakeven analysis on that.

    • @noisehonk
      @noisehonk 3 роки тому +2

      He’s going to be making 300K so not bad