14 min listen
"Student Loan Forgiveness" - Paul Oster #5308
"Student Loan Forgiveness" - Paul Oster #5308
ratings:
Length:
19 minutes
Released:
Oct 28, 2021
Format:
Podcast episode
Description
Summary: Student loan debt has been a pressing issue in our country for quite some time, with little progress in resolving it. I sit down and chat with Paul Oster to analyze some of the causes of this phenomenon, and possible ways out. It seems that we are in an endless cycle of finance companies lending out more money, causing institutions to up their prices. There needs to be more awareness around the implications of taking a loan, and the long-term financial commitment it entails. Highlights: -Student loan debt has been a pressing issue for quite some time -There has been talk of forgiving student loan debt—which is great in theory—but isn’t necessarily feasible -What sounds great can be difficult to execute -We must consider who is going to help fund this -Student loan debt is something we have to get ahold of immediately; finance companies are lending more, so institutions are charging more. It’s an endless cycle -In order to forgive this absurdly large sum of money, something has to give -The deferment period and relatively low interest rates make loans attractive -There needs to be a more in-depth discussion of these things and adequate planning before loans are taken so that people understand the consequences -Students don’t receive enough information on all of the obligations of a loan—it can affect the rest of your life and set you back financially. -It is good for building credit, but only if all payments are made on time -There are lots of negative consequences that can come about in the case of emergencies -Income-based repayment entails paying back your loans based on what you can afford -The government is trying to solve a problem that they created—which typically just makes it worse -The opposite of financial education is financial ignorance, and at a younger age it’s harder to make a decision that can harm the rest of your life -Your credit score is either going to save or cost you money every month Useful Links: BetterQualified Financial Survival Network "Millenials Messing Up with Too Little Credit?" with Paul Oster "Threat of RansomWare is Quickly Spreading" with Paul Oster
Released:
Oct 28, 2021
Format:
Podcast episode
Titles in the series (100)
Dore Copper Finds Even More High Grade Copper: One of our favorite things is brining you good news from a sponsor. And lately Doré Copper has had a lot of really good news. What you’re about to hear is hot off the press. Doré’s 2020 and recent 2021 drill programs have hit the mark. The plan was... by Financial Survival Network