Student Loan Crisis- Dave Rant

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Complete Video Transcript

0:04thanks for joining us america this is the Dave Ramsey show
0:07have you guys heard that there is a student loan crisis in America
0:12have you heard that mother s
0:15case you hadn’t heard there’s a trillion dollars or known student loans and that
0:20is a crisis
0:21and it’s not for everyone but it is for some love you
0:24some love you’ve really got yourself into a mass was the student loans
0:27in so you know occasionally we need to just stop in tap the brakes
0:33societal E and look at something as a culture
0:37look at something and that something is education let’s start with the idea this
0:43education is valuable
0:46so long as what you are being
0:50it valuable in terms of money it makes you money so long as what you’re being
0:54educated in
0:55someone in the culture cares about and so getting absurd degrees
1:02getting a PhD in German poker history
1:06a useless degree is useless
1:11that’s why we call it a useless degree cuz it useless
1:14there’s only one job you can get if you’re got a PHD
1:18in German poker history and that is to teach other people to get
1:22a degree in German poker history as a professor German broadcaster that is
1:26your only potential job
1:28at a fairly narrow job market and since the number of
1:31universities offering a degree or classes in German pop history is fairly
1:35small
1:36you’re screwed now I’m using that as a metaphor but you know what I’m talking
1:40about
1:40stupid but degrees that have no application in the market place what so
1:45ever
1:46in people spending money that they don’t have on them now
1:50let’s start with this premise when it comes to education all
1:53education is not smart all I
1:59that you go not all education is smart
2:03some people are stupid about education isn’t that the paradox of the world
2:09how many have you met people who collect degrees like a thermometer
2:13and yet they can’t seem to make their way through the culture and make another
2:16the living to feed their
2:17own kids and they got more letters on licenses after their name the nearby
2:22you’ve ever met
2:23now we’ve met those people we know the other so we know that all education is
2:29not smart
2:29so parents here’s the deal you got a 17-year-old you got a 16-year-old you
2:34got an 18-year-old you got a 19-year-old you got a 20-year-old why don’t you be a
2:37parent
2:38cuz you know what i’m saying is true you know all education is not smart
2:43should also them off to college you go just heard burn
2:47does get a good day going okay
2:51altered tell you all be able to break the body
2:54culture are college graduates deliver in
2:58the way the culture science other big ol chasing a rabbit
3:01through particularly but got a degree in what
3:06here’s an idea be Smartmatic get a degree
3:10in something that matters and I’m not down I’m gonna make fun of a buncha
3:16majors that our actual real majors
3:18but you know what I’m talking about it has to have application in the market
3:20place
3:21or your education makes you look stupid isn’t that an irony
3:27when you walk in
3:30and you say I got a degree an axe immediately
3:34your face turns red you know what I’m talking about that you i’m talking to
3:39her
3:39don’t let your kids do that stuff
3:42get a degree and learn some get get get some knowledge
3:47in an area that actually has application in the marketplace
3:52where the degree results in a better job
3:55the degree results in a better quality of income better ability to run your own
4:00business
4:00better something but a degree in German poker history is much more
4:06now if you have the money in your honor write a check and you just always want
4:11to have a degree that was useless
4:12and that your hobby is doing that that’s fine pay cash for it I don’t care
4:16and the same thing about where you go to school
4:19where you go to schools use truly
4:22no one how much are you going to a doctor’s office to go
4:26are could I see where you want to go diploma before you take my panic so
4:30I was here to play or you want school now they might
4:35have it up on the wall where you can see it goes are proud I’ll
4:38but generally speaking they pass the medical board’s
4:42their practice they have a bar you know they have a practice open
4:45they’re practicing professional we don’t you going to hire a lawyer to go or
4:48geological
4:49redemption on that but when you were get your divorce
4:53when you were you know when you were buying a house in UN close on the house
4:57just got we want law school girl she went to law school no you didn’t
5:00you have any idea and i’m italian ninety-eight percent the jobs the US and
5:05ninety-eight percent occurred decision the US
5:07have nothing to do with where you went to school so take your prestige
5:10school ID and stick in your ear it doesn’t work to punch a crappy all
5:15it just does not work in the real world out here
5:18now there’s about two percent the job to care if you want to Wharton are they
5:22care if you want to Vanderbilt they care
5:24the rest of us will clear I went to a state school with University of
5:29Tennessee
5:29graduate with a four year degree and people to graduate from Vanderbilt work
5:35for me
5:36so let’s get this straight focus how this works
5:40you know you’ve got to be in control love this education
5:45mindset now I am NOT against education I’m against you going into debt for any
5:49kind of education
5:50and I’m against you bowl spending money that you believe you’re getting a return
5:54on investment on ridiculous degrees
5:56at ridiculous universities the charge way too much and you’re not getting
6:00anything for the money you spent if you want to spend money at a ridiculous
6:04institution
6:04or you wanna spend money at a ridiculous did only ridiculous degree as long as
6:10you have the money that your business
6:12go be stupid with the money I don’t care don’t matter to me but quit borrowing
6:16money that is taxpayer-funded
6:18to finance your stupidity don’t be getting a degree in this stuff
6:23I mean its absolutely not you got you have to stop and think about this
6:28you know you really have to use some common sense
6:31in your decision-making paradigm and most of all
6:34you parents have got to coach your kid you have to love your kids enough
6:39to coach them in what they’re getting into
6:42article in Time magazine
6:45illustrating what I’m talking about today listen to some other classes you
6:51can take a college now
6:52but these are degrees these are classes this is stuff that people are actually
6:58spending money on
7:00all by the way borrowing money on their student loan to go to this one class is
7:04called politicizing Beyonce
7:06this Rutgers Gender Studies class
7:10introduced in 2010 aims to assess US class
7:14racial gender and sexual politics through the music and career
7:18Beyonce you’ve got to be kidding me
7:22zombies in popular media
7:26this Columbia College Chicago course
7:29uses on big movies and comics to explore
7:33societal issues like how people to relate to
7:36and trust one another in times of need zombies
7:40this class called the joy of garbage
7:45the Santa Clara University class explores the science of decomposition
7:49the ego consequences of trash in more
7:52field trips include landfills and sewage treatment plants
7:55your grandmother would be so proud the science
8:00up Harry Potter this is a college class
8:04this Frostburg State University science course answers physics questions
8:09with a nod to hardcourts for example could genetic engineering actually
8:13create a three-headed dog
8:15things you need to know to be able just to the real world
8:18maple syrup the real thing
8:23I is this break-in you up
8:27the Alford the Salford University seminar explores the history and
8:30mechanics up maple syrup production
8:33and yes it also involves making and eating
8:36some sweet treats life-changing
8:40this one I couldn’t believe but I read it all the way through DOT
8:43underwater basket weaving ever ever heard or by taking the class a motor
8:47that class about as a mythical class
8:49the old idiom for any Z’s elective
8:52is now an actual class albeit a recreational not for credit one
8:55offered at schools like read and University of California San Diego
8:59a class you can audit the class underwater basket weaving
9:03this is what education has been reduced to
9:06so be careful out there people stupid is in the land
9:10and and stupid will cause you payin
9:15in being stupid about education is the ultimate
9:18paradox use
9:21your brain moms and dads use your brain parent your kids
9:25the answer is No for not spending money on their
9:29no are kill you no
9:33we’re not gonna do there this
9:36is the Dave Ramsey show
9:39the
9:41can’t
9:47the and and
9:55the
10:05the
10:07well