Dave Ramsey goes off on the craziness of student loan debt!
This is classic! If you want to hear the audio, click the link below and scroll to the end of the page and select "play". If you want to skip through, start at minute 5:05.
Her is a piece of it; but its worth hearing (click the link)...
"I’ve got to tell you that I’m about to blow a gasket. I’m about to go
into orbit. I’ve taken so many calls like this. Where are the parents
here? If your kids are that stupid, jack them up! Seriously—$130,000 to
get a degree from Columbia in divinity to get a $40,000 job as a
minister. Spending $130,000 to get an undergraduate degree in
psychology—that’s crazy!! So when you have babies, you go home to be a
I love stay-at-home moms. But you know the
number one reason I’m finding out now that people can’t stay home with
their kids? It’s their freaking student loan stupidity! I’m not mad at
this particular lady that just called. This concept is driving me
If you have a 20-year-old or an 18-year-old walking
around, grab them by the ear and tell them they should not get a useless
degree from a private university that you cannot making a living with
and then choose to go home and be a stay-at-home mom with $100,000 in
student loan debt.
This is how life happens. You say you’re going
to be a professional at something and then you change your mind—YOU LOST
THAT OPTION! You lose these options when you go this far in debt. You
are forced into a situation where you are choosing between your children
and student loan debt to get a useless degree!
You know what a
psychology degree without a master’s degree is worth? NOTHING! Nothing!
Absolutely nothing! You can’t get a degree in a factory with that
degree! You know what a theology degree from Columbia is worth? NOTHING!
It has no marketplace value! Think, people!
This is what’s going
on! You’ve lost your ever-loving minds, America. You are stupid about
education—how paradoxical is that? You wander in, spend any amount to
get a degree and act like the student loan tooth fairy is going to come
in and pick up your stuff. There is no student loan tooth fairy! You
have to think.
Your stupid degree in a stupid field does not have a
marketplace value and it doesn’t guarantee that you’re going to get a
job! As a matter of fact, it’s an indicator that you’re too stupid to
hire! Do not allow your 18-year-old to go $200,000 in debt so they can
get a good Christian education in underwater basket weaving. That’s
stupid! Stop it!
It’s out of control, people. Somebody’s going to
have to stand up and say enough already! It’s not the institution’s
fault, it’s the parents’ fault! Parents, tell your children to not be
stupid and don’t assist them in this stuff. Don’t assist them to go
hundreds of thousands of dollars in debt to get a degree that has no
marketplace value. This is ridiculous! THINK, people!
with education choices is about as paradoxical as anything I can think
of. It’s got to stop. It’s destroying the American family. It’s
destroying the economy. It’s ridiculous!"
--Dave Ramsey (March 13, 2012)