Should I Take Student Loan Forgiveness?

Should I Take Student Loan Forgiveness?

We’re talking to ryan in greenville south carolina so ryan um just to recap for folks who are just joining us you qualify for the student loan forgiveness program you and your wife are have some student loan debt you’ve got some a little kid you don’t feel like it’s right you got some kids you’ve come up with with uh your value system says i don’t want to take

This money i qualify for it i can have it i don’t want it and people are giving you advice you should do it you’re a taxpayer you deserve this all whatever so is that about right that’s right no kids yet though okay no no kids so uh why do you have this value why do you think this why do you think that you don’t feel like you can take it well i mean the principle

On the micro scale applied to ourselves right so i signed something i made a commitment to it right so i should honor my word and keep that commitment and also i have the sphere of influence of folks around me that have done the same and they made it through and they paid it off and it was such a big boost in their life and their marriage it strengthened their

Marriage to strengthen their i guess dignity dignity and um i feel like i want to be part of that crowd but i’m also like am i being proud am i being a little too proud about this or do these older folks that say i should take advantage of it do they have a point is it something it’s just strange like a strange time to live where things like government help is

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Kind of taking precedence and i don’t know like is it sacrificing our own accountability and i don’t know you see the consequences on the individual scales there’s got to be global consequences no question um our whole system is built on um that’s future us problem we’ll let them deal with that later right that’s that’s the whole system can we punt this thing

Right um george before i i’d love to get your thoughts on we’re talking about this off here a little bit um i find it helpful in these moments ryan to back out of the current moment in the politics of it all this is this is the coven vaccine this is um should i work at this place this is should i take student loan forgiveness these things get so hot and they

Get so political and it clouds your judgment and so i just want to back out and say this isn’t a strange time for people to be faced with various values questions and i’m going to answer that question on its merits and i’m not i’m not going to get involved in the fray and there’s something inside of you that says i don’t feel right about it george we think i

Think if you’re going to lose sleep overtaking it don’t do it and if it’s going to propel your financial journey that’s fine too but my issue is kind of feeling like you’re on a high horse and you’re better than the folks who took it right and you’re going well i i my value say it’s a bad thing i pay into social security i don’t want to do it but am i going to

Take it when i retire sure i paid into it stimulus check we got stimulus checks all right i’ll take it i’m not going to go like i’m going to refund this back to the government because i don’t believe in stimulus checks so i just don’t think it’s a i disagree with the entire premise of it but i also don’t have a strong enough moral compass to go absolutely not and

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You bring up something important ryan let me tell you how i personally deal with these things right so i take the politics out of it and then i make my decision and then i tell no one because if i feel like i have to announce my values my personal values and my personal choices to the world then it’s i’m i’m virtue signaling i’m not sticking by a principle i’m

Doing something so that i can make an announcement about it instead of this is a personal value like when people uh take social media fast and they have a big post about why they’re taking it fast because they’re better than all of us for getting off social media like that john like that so ryan if if man if your value say don’t take it don’t take it and don’t

Lose a second of sleep over it and here’s the thing you don’t have to you don’t have to you’re going to ask 40 different people you’re going to get 40 different answers right right so sit with your wife and you’ll make this decision on your own that one that you can sleep with and then let that be your decision and let this be practice for future values based

Decisions you’re going to have to make in the future and let them be yours and yours alone i think one of the challenges we’ve run into is we have to make hard decisions in our lives and then now we have a platform to tell everybody about them and it quickly divides up the world and people stop being neighbors and they stop being parents on this on a softball

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League or parents sit on the sidelines of a kid’s dance recital and it becomes you versus me and man stick by your values love them be good about it and then go on with your day does that sound fair that sounds fair cool man well congratulations for even having even thinking about it right well another piece of this he mentioned is you know the character uh

That you develop by sacrificing and paying off debt i think he’s already experienced that i don’t think he’s gonna miss out on it by getting 10k forgiven right and so for that piece i say yes it absolutely changes your character and how you look at money when you had to pay it off and i’m happy for those people there’s amazing personal growth there he’s already

Experienced that i don’t think he’s going to revert back to i’m just going to wait on everyone to fix my life ryan he’s already done this stuff right and i think the key is whether you take it or whether you don’t don’t wear it as a badge of this just elevated me above you exactly personal choice you made cool let’s move on with our day right i love that thanks

For the call um ryan that’s helpful for folks

Transcribed from video
Should I Take Student Loan Forgiveness? By The Ramsey Show – Highlights