This Is Student Loan Forgiveness Dave Ramsey Can Get Behind

Brought to you by the EveryDollar app. Start budgeting for free today. In my entire life, I have never thought, until just this second, that might be a student loan forgiveness program I could actually get behind. I think millions of Americans would get behind it. I'm 19. I'll be a sophomore in college this fall. Graciously, through 529, the first two years of college will be paid for. However, my second two years of college will not be. Even with me living off campus those last two years, I'll still need about $48,000 to complete college and get my degree. As of now, the option in front of me is student debt, but I've been listening to you for a while and I'm very anxious to do that. I currently do not have any debt. I have a paid-off car, very reliable. I have no credit cards. I have no other debt. However, I recently just got in contact with a recruiter through my school for the Army National Guard. Through the six-year contract, I would be able to have, once I'm completed basic training and schooling for the job, I would be able to leave college without any debt. I would be able to have a nice little chunk of change, around $17,000, maybe more, leaving college in my bank account. That can just start my life. The National Guard has a phenomenal program for students in your situation. What you stumbled into there was a gold mine. It's an excellent program and it's not going to be bad for you as a man at all to go through the whole process. Absolutely, hands down, go do that. The last time I looked at it, we endorsed them for a while because they had a $10,000 cash, like a signing bonus, that went towards tuition immediately. It must be more than that now with what numbers you just gave me. In more detail, basically, I get a $7,500 signing bonus by the time between October 1st and May 15th. That would be given to me after I finish my job schooling. I would get $4,000 immediately as federal tuition assistance per year. It maxes out. You got $7,500 plus $8,000 there. Yes, sir. Then I get $20,000 per year for state tuition assistance after I've completed my basic training and job schooling. Right now, if I'm trying to max out the benefits, I would need to slightly defer my spring semester this year of college. That way, I can do my basic training and schooling without missing any more college. That's kind of my only holdup. I've been talking to my college counselor. As long as I take one online class, I can still be enrolled in my college, so that would not be an issue. Perfect. Do that. I hate the word defer there. I understand how they're using it, but this is the no-brainer for you to do the one class, stay eligible. Yeah, you're going to be 25 years old and have served in the National Guard and have come out of college completely debt-free. Okay, great. Thank you, guys. We've worked with these guys for years. I think the numbers change from state to state, if I recall, in terms of how much assistance they give and different things, but the package they're offering you is solid. I mean, you're looking at it and you're going, this looks good. You're kind of almost like it's too good. You're kind of worried, right? Yes, sir. Yeah. I think the downside is you were going to be in the military and that means they own your butt, right? Yeah, I don't have a problem with that. My father was a member of the Air Force, so I have no issue serving my country at all. The only slight holdup I had is my contract starts immediately when I signed, like this October, so I'll be done. I'll be getting three years done while I'm in college, but the last three years, I'll be doing while I have my career, and I know legally jobs can't say no to hiring, but I'm still just a little... No, we hire folks. We got several folks in there. We just got an award from them for our employees. When they go out, we pay them. We keep paying them. That's one way that we show our patriotism here at Ramsey, so there's some jobs that go the other way, like they're really proud to have you on and proud that you're not here. I mean, one of my tech guys the other day stepped out. He was gone for a period of time with the Guard and then came back, and he and I were talking about it at lunch, but they came the other day and gave Ramsey an award for this for the number of times that we've supported our Guard people when they go out, but there are actual Americans that are proud to support you and that own businesses out here like me, but I don't think it's a holdup. That wouldn't hold that up a bit as long as you get the idea that you're not... I hate the military, but I'm doing this for the money. I wouldn't do that, but I'm not hearing that at all with you. You want to serve your country. Your dad was in the forces, and so yeah, Luke, I think it's brilliant. Brilliant. I'm totally signing on for this. Yeah. I'm not going to get into policy here, but we've got this. The federal government, Dave, is in the banking business in the onerous student loan program, and certain administrations will make it a political football and yet not shut the program down, but this to me, there's something here, and I've long felt like we need some type of national service program, whether it's in the military or something else, and I love this option. I wish more young people would do this to combat the rising tuition costs and not be stuck with generations of debt. This is such a viable option and good because you become a part of something far bigger than yourself. I love this program. You know, until you said that just then, in my entire life, I have never thought until just this second that if you want your student loans forgiven, that you go serve your country for a period of time and we will forgive some of them, that might be a student loan forgiveness program I could actually get behind. I think millions of Americans would get behind it. I would get behind it. Yeah, but I'm sitting on my butt and I'm a victim, and so you need to forgive my loans. I really have trouble getting behind that one. I don't like that one either. I paid mine off. You should pay yours. It's not fair. People like me finally get to say it's not fair. You don't get to say that. You're not allowed. Fair is where the Tilt-A-Whirl is and the cotton candy. So, you know, that's where fair is. Create your free every dollar budget today. The simplest way to budget for your life.