Myth: You Need Student Loans


Complete Video Transcript

0:00it’s a debt free college hour on the Dave Ramsey show yes it can be done and
0:07we have callers calling in that of reefs are recent college graduates are going
0:11to ask how they did it we know Rachel knows Rachel crews my daughter is with
0:15co-author with me of the number 12 York Times bestselling book smart money smart
0:19kids we know there’s five things you can do if you do those five things it is
0:24possible to go to school debt free two of them we’ve already covered we’re
0:28gonna come back and make sure all five recovered during this hour should don’t
0:32leave the meantime let’s talk to faith in Fort Hood Texas High faith our you
0:36want to hear I’m better than I deserve so when did you graduate
0:422008 2008 and you went to school
0:46100% debt-free yes where’d you go to school and the coalition calling for ok
0:53and a four-year school and a private school right faith yeah yeah so what you
0:59get your degree in accountancy wow ok and how long it take you to get out
1:05or you did four years and forty years and four years how did you do this debt
1:15free tell me about it really is nine years older than me and when he was
1:19going to college my parents made it very clear to the rest of my family they were
1:25not going to be paying for college so even you know nine years old I was
1:29already thinking about that they did however provide us with vehicle to get
1:33sort they’re going to help us and our college money by giving us a vehicle to
1:38meet lending us a vehicle I guess you could say to use and when you’re not
1:44enough brother when you’re 16 right but my dad owns his own business and he
1:51allowed me to kind of start doing some stuff to earn money here there are too
1:56many 14 about a week was homeschooled so I could come back just my schooling
2:03schedule to fit my first schedule which enables me to work a lot of jobs that I
2:07would have been able to otherwise when I was 16 I thought it would never think he
2:14around and doing my school in the evening and was able to make a lot of
2:20savings lot of savings and here I actually went into my freshman year of
2:26college with twelve thousand dollars in the bank
2:28well that I went to all the motherboard included was only at the time about
2:346,500 a year so I really had my first two years paid for by the time I left
2:40also my freshman year I didn’t work when I was at school and I wanted to adjust
2:45to that schedule first then from sophomore year on I worked when I was at
2:50school between 20 and 30 hours a week and then I’d come home and I work fifty
2:56to 60 hours a week during the summer the bank they allowed me to do overtime with
3:01a huge blessing the night baby see you later what my dad still some turns to
3:07make some money itself I was actually able to graduate with money in savings
3:10instead of any type which was my goal but I was still I think a little
3:15surprised that I was able to accomplish it
3:18was are you worked like an animal girl was it like an animal now how hard was
3:29it for you to find a job but I actually went to work for ministry and the dog
3:37kind of phone I want and I was there for six years after I graduated and then
3:42last summer and I moved to get married on the Texas and that was a little bit
3:46more difficult because they were so far removed from college people you know and
3:50players for a little bit hesitant but once I got in a job I was I mean I moved
3:56up the ranks pay raises everything really quick so it’s always been blessed
4:02with very well pains good jobs with great employers that’s amazing you’re
4:07working twenty to thirty hours while going to school he said it was hard to
4:11keep up your studies
4:12that’s what I hear a lot of college students and parents you know we don’t
4:15want are taught to work because their grades may slip right I would say it was
4:19I probably should more with time management when I wasn’t working because
4:23having having my shoulders 23 where your deadline as a little bit morn foreboding
4:29yeah it was easier to to really liked my film I had to get my homework done and I
4:36actually think Morsi time or I i appreciated this weekend I had more than
4:41when I was a freshman in 2006 an hour and I have four hours tonight 22 uniting
4:47all yeah there are a lot of research shows that students who worked 19 hours
4:51we’ve graduated higher GPA than students who don’t work at all just exactly like
4:54you said at the time management you’re forced right and a time of this is what
4:58I have to work and study instead of going back to the dorm and watching
5:02reality TV and eating Doritos your enemy just whenever you mean you have to have
5:06a schedule and that puts so much you know
5:10Josh character building and you to to be able to structural thats amazing what
5:15was your GPA on a 4.0 actually well there we go
5:21I’m not shocked and what your income now my income now I’m working part time
5:26making about $15 an hour doing accounting work I’ve never i mean when I
5:33read after I graduated in a ministry my income was not very much at all
5:37thankfully I knew how to live on little because that’s what I can about
5:41preparing for the whole time I was in college you know I don’t go out to eat a
5:45lot of college got in I don’t want to spend that money on that because I
5:48wasn’t sure I was gonna have enough to pay my bill so why would her amazing
5:53employable I mean listen to the 4.0 is impressive not nearly as impressive as
5:59that is the work ethic and and I agree thats marketable an accounting degree
6:03this this is this is how you make successful children people you just
6:08heard it this is amazing absolutely awesome thank you faith matt is next man
6:12is in Salt Lake City hey Matt how are you doing great how are your days better
6:17than I deserve so what year did you graduate so I graduated in 2005 from
6:23Weber State University in Utah ok and what’s your degree in business
6:30ok and how long it take you to get out of school so I i didnt four and a half
6:36years but I had to take a semester off because after my first semester of
6:40college I got married there you go okay yeah so how did how did you get through
6:46debt-free tell us your story you know this is something that I I did take a
6:52lot of pride in this is the process that I did not go through did get your
6:55college debt free I started out my first semester and my parents help me out with
7:00that first semester but I remember when I made the decision to get married after
7:03that per semester my dad they think that if you can make that kind of decision
7:06then you’re on your own and I’ll tell you what that was probably one of the
7:11best things that ever happened to me because then I had to figure out I knew
7:16that I was going to go see politics that was not an option for me but kind of
7:20like rachel is talking about earlier I was
7:23not going to do it with jet dryer gonna figure out another way to get it done
7:26until one site once I was married I decided I had to find a full-time job
7:32and it couldn’t be something that was just gonna be you know a minimum wage
7:35type jobs and i ended up working a full-time job the entire time I went
7:41through school 40 hours a week straight commission job which for me was really
7:46good at it allowed me to make enough money to make those payments for school
7:50then by the time I graduated I was married and have fun baby and we got
7:54lost on the way and you know with its working full-time and and some of those
8:00grants and things I would take any the free money they would give me and it’s
8:03it’s funny because I didn’t get the memo that applications then we have to dig
8:06through to figure out what was the free money and what was alone and really you
8:12know focused take the time to figure out what that was so that we could stay away
8:15from getting into debt by going through all those who do not know what do you do
8:22now and I’m in pharmaceutical sales ok what your income I make anywhere from a
8:29hundred and twenty-two hundred and forty thousand dollars here what was your GPA
8:33when you graduated my overall width 385 my major GPA was a 40 what was how
8:40expensive schools i went to you know it’s hard to say how much it was
8:46per year that’s that’s a good question I mean we my wife and I was more than a
8:50state school less than a state school more than Harvard less than Harvard it
8:54would just get state school tuition ok so not very expensive but you know I
9:00I’ve never been on your sewing machine college what we’re selling furniture
9:07hours a week
9:10thank you Matt congratulations you’re a man again hit the big success of doing
9:17this led to success in adulthood
9:20why because it develops grit more than just books since there’s a pattern here
9:25you guys seeing this this is the Dave Ramsey show