Latest / Earn Your Leisure / EYL #269 How to Receive Student Loan Forgiveness; Secrets, Myths, Dos & Don'ts with Sonia Lewis

Transcript

EYL #269 How to Receive Student Loan Forgiveness; Secrets, Myths, Dos & Don'ts with Sonia Lewis · Earn Your Leisure

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  Speaker 1: An illegal alien from Guatemala charged with raping a child
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  Speaker 4: What's going on?
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  Speaker 2: This is a good one for schools. Schools want to
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  Speaker 2: give money to people that have shown proven history in
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  Speaker 2: high school of being active and value members, like they
• 2:04
  Speaker 2: want to put you on the billboard. So when I
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  Speaker 2: went to Bloomsburg and got all of that money, it's
• 2:09
  Speaker 2: because I was a part of everything in high school.
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  Speaker 2: So nine times out of ten, I'm going to do
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  Speaker 2: what be a part of everything here in college. You
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  Speaker 2: can put me as an ambassador. You might want to
• 2:19
  Speaker 2: put me up there, like you know, this is how
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  Speaker 2: schools think about when they give institutional money. If that
• 2:25
  Speaker 2: makes sense.
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  Speaker 4: All right, guys, welcome back, eyl back home. Yes, so
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  Speaker 4: this is going to be a follow up episode.
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  Speaker 5: Welcome back, Glad to be sure.
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  Speaker 4: Sonya Lewis aka the student loan Doctor. So we spoke
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  Speaker 4: around two years ago and it was a great episode.
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  Speaker 4: So we got your whole backstory, how you started a business,
• 2:47
  Speaker 4: in a variety of different things. So we'll go straight
• 2:50
  Speaker 4: into it this time because I think that being that
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  Speaker 4: we already kind of spoke on that side, now we
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  Speaker 4: can kind of just focus straight on the student loan issues.
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  Speaker 4: And there's a lot that's going on. Obviously, it's very
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  Speaker 4: time sensitive. The President, Joe Biden, has made some new changes,
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  Speaker 4: so there's a lot to talk about, and a lot
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  Speaker 4: of people are confused. A lot of people don't know
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  Speaker 4: what's going on, what's what's real and what's not. And
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  Speaker 4: now more than ever, people need the information because you know,
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  Speaker 4: student loans have only gone up so trillion dollars in debt.
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  Speaker 5: Total real debt dollars. Yeah, yeah, yeah.
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  Speaker 4: First and Foremo, thank you for joining us, appreciate it,
• 3:25
  Speaker 4: thank you for having me back.
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  Speaker 2: I will say business changed significantly. It's a blessing over
• 3:31
  Speaker 2: your lives. No, the awareness that you guys brought to
• 3:35
  Speaker 2: our business after the first episode, I really can't thank
• 3:39
  Speaker 2: you guys enough, just because it is in line everything
• 3:43
  Speaker 2: you guys talk about. There's always somebody's little elephant, like,
• 3:46
  Speaker 2: but what about my loans when you think about investing,
• 3:49
  Speaker 2: home buying, any of that, somebody has a probably six
• 3:53
  Speaker 2: figure student loan problem that may stop them from doing
• 3:56
  Speaker 2: all the great things you guys are talking about. So
• 3:59
  Speaker 2: when we shed a little light or a little perspective,
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  Speaker 2: it just makes people want to go actually do what
• 4:03
  Speaker 2: you guys are telling them to do.
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  Speaker 5: Yeah, it's one of those things that as teenagers. I
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  Speaker 5: can remember even now when we talk to the young adults,
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  Speaker 5: nobody prepares them for this moment, and we try to
• 4:13
  Speaker 5: say it's the probably the biggest financial decision you're going
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  Speaker 5: to make at eighteen. I mean, obviously, if somebody gets
• 4:19
  Speaker 5: married later their life, that'll be one, but college is
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  Speaker 5: that And if you make the wrong decision or if
• 4:24
  Speaker 5: you don't have the right information, like you said, you're
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  Speaker 5: talking six figures in debt, which is tough to climb
• 4:29
  Speaker 5: out of, especially when you talk about interest rates, especially
• 4:31
  Speaker 5: when you talk about the cost of living. It's tough,
• 4:35
  Speaker 5: it's almost insurmountable, and we don't know, we don't know why.
• 4:39
  Speaker 5: This is why episodes like this is so important.
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  Speaker 4: Yeah, yeah, yeah, all right, So okay, let's start here.
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  Speaker 4: So we posted last week, a couple weeks ago that
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  Speaker 4: Biden announced to cancel more than five million dollars in
• 4:52
  Speaker 4: student loan debt money additional and a lot of people,
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  Speaker 4: you know, they was confused. They're like, well, I don't
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  Speaker 4: know anybody that has received any cancel doing loans, and
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  Speaker 4: people it was like, well, I actually did receive it cancel.
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  Speaker 2: I saw the comments. Yeah yeah, So.
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  Speaker 4: What exactly what Ezaki happened and who actually benefits from this?
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  Speaker 2: So here's what's going to happen. We're going to see
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  Speaker 2: more and more headlines like five billion, five We're going
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  Speaker 2: to just see all these headlines because what is coming
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  Speaker 2: up anybody know, election? So this is going to be
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  Speaker 2: the carrot if you will, to get people to re
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  Speaker 2: elect in terms of our age groups, so you figure
• 5:26
  Speaker 2: anywhere from like age thirty to like fifty five, the
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  Speaker 2: student loan carrot is definitely going to keep being pulled.
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  Speaker 2: So he did actually give out money and I do
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  Speaker 2: know from my community a lot of people been in
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  Speaker 2: from it. Now, let's talk about who benefited from it
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  Speaker 2: the most. You probably were over age forty five. You
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  Speaker 2: probably were in school, like nineteen ninety five to two thousand,
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  Speaker 2: because there was a time period around that type of
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  Speaker 2: money that he gave out. And the term here is
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  Speaker 2: called income driven repayment. They were looking to see were
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  Speaker 2: you in school and payment for twenty twenty five years.
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  Speaker 2: And then here's the thing. They even made some exclusions.
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  Speaker 2: Let's say you weren't in repayment, but you had loans
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  Speaker 2: that amount of time in repayment they hit for forgiven. Well,
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  Speaker 2: we might get into it, but there was a big
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  Speaker 2: glitch that occurred recently too. So even though they put
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  Speaker 2: the headline out there about the five I think it
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  Speaker 2: was billion, right billion, we're using terms of billions.
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  Speaker 4: Now right, we saying billions billion five.
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  Speaker 2: The challenge is is that there were about over nine
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  Speaker 2: million people left out in that last round. So this
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  Speaker 2: is the first time ever that they actually made an
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  Speaker 2: announcement that they messed up. I was very big with
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  Speaker 2: the Department Education.
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  Speaker 5: I feel like they always messing up.
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  Speaker 2: Well, they actually said they did it though, So what
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  Speaker 2: happened was there's literally what they do is they push
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  Speaker 2: a button. It's like a real one button, and if
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  Speaker 2: you qualify according to their system, you would have got
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  Speaker 2: the email. You get the letter. Things go into perspective, Well,
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  Speaker 2: a lot of people, over nine million people got skipped
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  Speaker 2: because if you had just consolidated a few years prior
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  Speaker 2: or you know how all these loans are being transferred
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  Speaker 2: to different lenders, the lenders aren't showing the full loan history.
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  Speaker 2: So a lot of people accidentally got skipped.
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  Speaker 5: So who are the lenders that that would qualify because
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  Speaker 5: I know, I mean, any federal.
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  Speaker 2: Legdars can qualify. But the problem is is, let's give
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  Speaker 2: it a good example. You know how everybody went from
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  Speaker 2: FED loans to Mohilia that was in the public service
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  Speaker 2: long forgiveness. Well, just because you went over to Mohilla
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  Speaker 2: doesn't mean all of your history went with you. And
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  Speaker 2: there used to be an old system. If you're an
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  Speaker 2: education you'll know it called NSLDS. It actually used to
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  Speaker 2: be open to the public until the pandemic. We all
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  Speaker 2: could have looked at everybody's loan history on that site.
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  Speaker 2: Colleges and universities use it Now it's a private site.
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  Speaker 2: So if you want what's called your pre conversion record,
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  Speaker 2: you have to request it from the Department of Education.
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  Speaker 2: Now it's very so it's very elusive, and it's actually
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  Speaker 2: not beneficial to just the everyday person to be a
• 8:00
  Speaker 2: to track their progress. You used to contract, how long
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  Speaker 2: you were in for parents for payment in school. Those
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  Speaker 2: are the type of pieces of information you need to
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  Speaker 2: fight for yourself to get your loans forgiven.
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  Speaker 4: So okay, so how do you apply for that for
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  Speaker 4: the pre conversion or which part Joe Biden what he
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  Speaker 4: just did?
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  Speaker 2: Okay, So if you missed it, a lot of people
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  Speaker 2: missed it, Like I said, over nine million people missed it.
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  Speaker 2: What you would have to do is file a complaint.
• 8:27
  Speaker 2: So we actually have something that we're putting together and
• 8:29
  Speaker 2: we've been helping people one on one file a complaint.
• 8:32
  Speaker 2: So the cool thing about it is is that it's
• 8:34
  Speaker 2: going to take them about let's say three to six
• 8:37
  Speaker 2: months from now. We're with December. In December, so three
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  Speaker 2: to six months from now, they're going to literally go
• 8:44
  Speaker 2: through each person's complaint. So that department is called the
• 8:47
  Speaker 2: Obuzman Group. They'll look through, they'll say, hey, we shot,
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  Speaker 2: you're right, you should have been forgiven. We didn't see
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  Speaker 2: your pre conversion record from prior. Some people will be
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  Speaker 2: sold No, let's say you were in grad school for forever.
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  Speaker 2: You weren't in repay then, so you have to literally
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  Speaker 2: submit a complaint through Student Aid doc Gov. Right, And
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  Speaker 2: it can't be like I'm upset y'all didn't forgive me,
• 9:13
  Speaker 2: so they're going to close it out. So it has
• 9:15
  Speaker 2: to be thought out. And you should even like highlight
• 9:18
  Speaker 2: or be prepared to say if you know which loans
• 9:20
  Speaker 2: you believe could be forgiven, so spend a little time
• 9:23
  Speaker 2: on it.
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  Speaker 5: Gotcha, gotcha. So that was for the nine million people,
• 9:27
  Speaker 5: the biggest one. And when you came in, you're like, try,
• 9:30
  Speaker 5: how your loan's doing well.
• 9:32
  Speaker 2: I just knew you was going to say they were going.
• 9:34
  Speaker 2: I was excited for.
• 9:35
  Speaker 5: There's some confusion around it, right, because I feel like
• 9:37
  Speaker 5: they make a mistakes. So the public Service loan forgiveness. Yes,
• 9:40
  Speaker 5: so there's a couple of things around it. Let's just
• 9:43
  Speaker 5: explain to the people again what that is. And then
• 9:45
  Speaker 5: I know there's a bunch of dates. So I even
• 9:46
  Speaker 5: I get the emails like, hey, this is expiring by
• 9:49
  Speaker 5: the October, so we'll start there and then we'll dive
• 9:52
  Speaker 5: into the some of the misconceptions and confusion around the
• 9:55
  Speaker 5: public service.
• 9:56
  Speaker 2: So just depending on the audience that's watching this, most people,
• 10:00
  Speaker 2: I would say, just even think about your events are
• 10:03
  Speaker 2: between thirty and fifty. Would you say that's about right?
• 10:05
  Speaker 5: Yep.
• 10:06
  Speaker 2: So if you're between forty and fifty, you got to
• 10:08
  Speaker 2: be careful here. You want to log in the studenta
• 10:10
  Speaker 2: dot gov and you want to look at your loans
• 10:13
  Speaker 2: click view details, and you want to see if it
• 10:15
  Speaker 2: says that you have a direct loan, very important. If
• 10:18
  Speaker 2: you have what's called a FFELP loan, that's not going
• 10:22
  Speaker 2: to work. So it has to be direct loan. That's
• 10:24
  Speaker 2: all you need to know. Then you'll be eligible for
• 10:27
  Speaker 2: any forgiveness programs coming up, even by the loan forgiveness.
• 10:30
  Speaker 2: But they're doing something really really I don't want to
• 10:32
  Speaker 2: say sneaky, but one email went out about it. If
• 10:35
  Speaker 2: you have an f FELP loan, you have until December
• 10:39
  Speaker 2: thirty first.
• 10:41
  Speaker 5: This year this year to apply to apply.
• 10:44
  Speaker 2: Or you will never get anything forgiven. This is a
• 10:48
  Speaker 2: heavy word to say never, okay, but the administration is
• 10:52
  Speaker 2: said you will never might they're being using. So what
• 10:56
  Speaker 2: will happen is is if somebody's watching this in January,
• 10:58
  Speaker 2: good to know you will want to if you have
• 11:01
  Speaker 2: missed this information, you will want to contact the Department Education,
• 11:04
  Speaker 2: not your lender, and see if there's any way that
• 11:07
  Speaker 2: you can get an extension. Now, what might happen which
• 11:10
  Speaker 2: is important to note go to student A dot got
• 11:12
  Speaker 2: for this update. There may be an extension given because
• 11:16
  Speaker 2: when we look at the data, that's over ten million people,
• 11:19
  Speaker 2: and we know that there's forty three million barbers, ten
• 11:22
  Speaker 2: million are going to be excluded from forgiveness forever because
• 11:24
  Speaker 2: of that rule.
• 11:25
  Speaker 5: And from a standpoint, like you said, there is an election,
• 11:28
  Speaker 5: you want to have the most people.
• 11:31
  Speaker 2: That's OK, that's a hard rule to put.
• 11:33
  Speaker 5: You can sway them around that. But so the loan forgiveness,
• 11:36
  Speaker 5: the teacher, well we'll get to the teacher loan forgiveness,
• 11:38
  Speaker 5: but the public.
• 11:40
  Speaker 2: The best program I think that exists.
• 11:42
  Speaker 5: Yes, it's still the same requirements, right, it's one hundred
• 11:44
  Speaker 5: and twenty qualifying payments, ten years of service. And so
• 11:47
  Speaker 5: if you have those things, most people think they qualify. Yeah, right,
• 11:51
  Speaker 5: And so I was under that assumption yeah. And then
• 11:54
  Speaker 5: when I was filling out the application, there was a
• 11:56
  Speaker 5: box and the box said, and this is to my understanding,
• 11:59
  Speaker 5: I was like, wait, I don't know if I qualify
• 12:01
  Speaker 5: anymore because technically I don't work as a teacher in
• 12:05
  Speaker 5: ability I do it.
• 12:05
  Speaker 2: That's why I wanted to clarify.
• 12:07
  Speaker 5: So I was like, wait, I don't qualify anymore. And
• 12:10
  Speaker 5: to my assumption, because when I read the fine line,
• 12:12
  Speaker 5: it said, hey, if you're no longer employed, then how
• 12:14
  Speaker 5: do we do it?
• 12:15
  Speaker 6: Do it?
• 12:15
  Speaker 5: So I didn't the first time. I didn't do it well,
• 12:17
  Speaker 5: I did it earlier, and then I didn't qualify for
• 12:19
  Speaker 5: the first before body changed the rules. Then I saw
• 12:22
  Speaker 5: that line, I'm.
• 12:22
  Speaker 2: Like hammering you on days because that thought is what
• 12:26
  Speaker 2: stopping everybody for so many clients. I wanted people to
• 12:28
  Speaker 2: hear you say that, so I read it again. I
• 12:30
  Speaker 2: just still feel like I want to just, you know,
• 12:33
  Speaker 2: tell everybody that's listening, it's not about what you feel
• 12:35
  Speaker 2: or think anymore. Just submit because there are new rules.
• 12:39
  Speaker 2: And what you don't know is what you're talking about
• 12:42
  Speaker 2: is the rules that you could have missed. Was October
• 12:45
  Speaker 2: twenty twenty two, they put a hard stop exactly, but
• 12:48
  Speaker 2: it's not a hard stop. This is why I said,
• 12:50
  Speaker 2: they waiver you go on the website for limited time only.
• 12:54
  Speaker 2: The te PSL LEFT program has been extended. That's what
• 12:58
  Speaker 2: you're under. But nobody's going to call you. Nobody text
• 13:01
  Speaker 2: him and said, hey, foy, did you get that paper in?
• 13:05
  Speaker 2: So people did what They just let it go and
• 13:07
  Speaker 2: forgot about it.
• 13:09
  Speaker 5: So I still got a chance.
• 13:10
  Speaker 2: You have a fighting chance. And so I also tell people,
• 13:14
  Speaker 2: because we are coming up on Biden Loan forgiveness, those
• 13:18
  Speaker 2: that are eligible for t EPSLF, and I say these
• 13:22
  Speaker 2: acronyms a lie and I say them hard so that
• 13:24
  Speaker 2: I will hope that they go to student a dot
• 13:25
  Speaker 2: gov and type it in. Like if you type in
• 13:27
  Speaker 2: t EPs LF, everything comes up. You got to like
• 13:30
  Speaker 2: literally go to your old employers, like pull up on them,
• 13:32
  Speaker 2: get a wet signature and a keyword mallet certified, no
• 13:38
  Speaker 2: stamps got they throw them out. It's forty people that
• 13:42
  Speaker 2: work here, y'all, like in theory, like.
• 13:43
  Speaker 5: Just it, I'm right now, I'm listening. Yeah. So there's
• 13:46
  Speaker 5: a couple of things now right, because the Public Service
• 13:49
  Speaker 5: Loan and the teacher Loan Forgiveness are two different things. Yeah, right,
• 13:53
  Speaker 5: So if somebody works ten years as a teacher, right,
• 13:56
  Speaker 5: but they got the loan giveness from this, do they
• 13:59
  Speaker 5: work in conjunction or not anymore?
• 14:01
  Speaker 2: A good question. So if you are a teacher and
• 14:03
  Speaker 2: you could also get PSLF, it used to be before
• 14:06
  Speaker 2: October twenty twenty two you could do both, but now
• 14:10
  Speaker 2: you have to do one or the other. Obviously we
• 14:12
  Speaker 2: want to do PSLF forget. I get like like tickle
• 14:17
  Speaker 2: pink about this stuff, like so exciting. Yeah, so in
• 14:20
  Speaker 2: July coming up, now you can make they say you're
• 14:23
  Speaker 2: going to be able to get in potato number multiple
• 14:26
  Speaker 2: payments on your PSLF. So I wanted to wait to
• 14:29
  Speaker 2: tell you this on ear So like let's say you
• 14:31
  Speaker 2: had two years left. That's twenty four months. Everybody follow
• 14:34
  Speaker 2: you don't have to wait twenty four months anymore. As
• 14:37
  Speaker 2: of July, let's say your payment only came out to
• 14:39
  Speaker 2: a making us up two fifty a month, and you're like, oh,
• 14:41
  Speaker 2: I got you know how much in my savings? You
• 14:44
  Speaker 2: can make those payments a lot quicker. Now, what I
• 14:47
  Speaker 2: don't know yet is is it only that you know
• 14:51
  Speaker 2: Troy can make five and a month extra, Like we
• 14:54
  Speaker 2: don't know if there's a number yet per month. Ok
• 14:58
  Speaker 2: alumsumming no. And so what I read recently the other day,
• 15:01
  Speaker 2: it's sounds like it's gonna be a lune sum situation. Remember, guys,
• 15:04
  Speaker 2: they're coming up, and you see how it's perfectly time
• 15:07
  Speaker 2: for July. We're coming up on what election.
• 15:11
  Speaker 5: So here's my last thing work and Shah, I thank
• 15:13
  Speaker 5: you for giving me the greetings grievance here because this
• 15:16
  Speaker 5: is personal right and I want everybody to hear it
• 15:18
  Speaker 5: because I'm going through it myself. Yeah, you got to
• 15:20
  Speaker 5: you want to do the public public service loan forgiveness
• 15:24
  Speaker 5: because you can get more forgiven. If I did the
• 15:26
  Speaker 5: teacher loan, the max I can get a seventeen to five.
• 15:28
  Speaker 2: Yes, we don't want.
• 15:29
  Speaker 5: You don't so you want to go towards that. Now
• 15:31
  Speaker 5: you're saying that there's a Biden loan, So what's the
• 15:33
  Speaker 5: difference between those?
• 15:35
  Speaker 2: So this is for everybody watching. I want to use
• 15:37
  Speaker 2: my phone for a second because I had to read
• 15:38
  Speaker 2: this to you guys verbatim. And you know, I told
• 15:41
  Speaker 2: you I think somebody black made this up. You know,
• 15:43
  Speaker 2: deministration is looking different these days, all right, So these
• 15:46
  Speaker 2: are the five groups that are eligible for Biden loan forgiveness.
• 15:49
  Speaker 2: Number one, Again, I did make this up and I'm
• 15:52
  Speaker 2: not paraphrasing, and I took this from Forbes. So fororwars
• 15:56
  Speaker 2: with current balances greater than what they originally borrowed. Everybody, okay,
• 16:04
  Speaker 2: most like ninety Number two those who entered into repayment
• 16:09
  Speaker 2: on their student loans twenty five or more years ago.
• 16:13
  Speaker 2: So they're changing it from twenty to twenty.
• 16:15
  Speaker 5: Five to more people.
• 16:17
  Speaker 2: Yep, yep, all right. Next one, students who attended programs
• 16:22
  Speaker 2: of questionable value. You ever go to a school that
• 16:28
  Speaker 2: was questionable? When I sent this to my team, they
• 16:34
  Speaker 2: were like, did you make this up? I'm like, no,
• 16:36
  Speaker 2: I took it off line.
• 16:37
  Speaker 5: So that's some of those like them online schools that
• 16:39
  Speaker 5: kind of just.
• 16:40
  Speaker 2: They're keeping it very blanket on purpose.
• 16:42
  Speaker 5: That would be like an exist Yeah, all right.
• 16:44
  Speaker 2: Number four borrowers eligible for existing relief programs, including public
• 16:50
  Speaker 2: service loan forgiveness. This this shoe who just haven't applied.
• 16:55
  Speaker 2: That's me not being serious, Like that's you, that's me. Okay.
• 16:59
  Speaker 2: The last one, you're all ready for this one? This
• 17:01
  Speaker 2: everybody borrowers and financial hardship.
• 17:09
  Speaker 5: Now what qualifies financial hardship?
• 17:11
  Speaker 4: Throw?
• 17:11
  Speaker 2: So the problem here is in the good problem is
• 17:15
  Speaker 2: that my belief and I set this on my platform.
• 17:19
  Speaker 2: They made things so broad because they want almost everybody
• 17:23
  Speaker 2: to be eligible. You kind of con find yourself in
• 17:26
  Speaker 2: one of five. Then number two is this an application
• 17:31
  Speaker 2: again or is this general? It has to be some
• 17:34
  Speaker 2: form of application for you to be subjective like this.
• 17:37
  Speaker 2: Then the last thing is and to your point number three,
• 17:42
  Speaker 2: this is why I think it's going to pass through.
• 17:44
  Speaker 2: So when they did the first round of Biden loan forgiveness,
• 17:47
  Speaker 2: and again I think everything's political anyway, they put it through.
• 17:51
  Speaker 2: What was the one that Trump had said we can
• 17:54
  Speaker 2: have the Pandemic pause for. I'm sorry, I don't know
• 17:56
  Speaker 2: that one. I think it was the Pandemic Act. There
• 17:58
  Speaker 2: was a clause a lot of things got passed through,
• 18:02
  Speaker 2: so they tried to attach loan forgiveness to that, but
• 18:04
  Speaker 2: that's not what that act was for. So the act
• 18:07
  Speaker 2: that exists that they're going to put this program under
• 18:10
  Speaker 2: is the nineteen sixty five Act. So it's called the
• 18:12
  Speaker 2: nineteen sixty five Higher Education Act, passed by Lyndon B. Johnson.
• 18:16
  Speaker 2: So I have a friend shout out to Ebane. She
• 18:19
  Speaker 2: is a reporter for the White House, and she texted
• 18:22
  Speaker 2: me all the time and says, what questions do I
• 18:24
  Speaker 2: ask Secretary of card Dota. I said, you asked them
• 18:27
  Speaker 2: these questions. Do you think that you're going to put
• 18:30
  Speaker 2: Biden loan forgiveness again through the nineteen sixty five Higher
• 18:33
  Speaker 2: Education Act? He said yes. So when it came out,
• 18:35
  Speaker 2: that's what they're doing. This doesn't have to go through
• 18:38
  Speaker 2: the Supreme Court. This can just exist. So what they
• 18:42
  Speaker 2: did was they put a committee of about twenty people together.
• 18:46
  Speaker 2: They influential leaders, community members, good representation of minorities, and
• 18:53
  Speaker 2: they put together this parameter what I just read to you,
• 18:56
  Speaker 2: and this just has to now get approved. But good
• 18:59
  Speaker 2: news is not a proved by the Supreme Court.
• 19:02
  Speaker 5: So that's good.
• 19:03
  Speaker 2: Yeah. So what a save save the Save program. So
• 19:08
  Speaker 2: this is one of the best programs that I think
• 19:10
  Speaker 2: is going to be very helpful. And we even see
• 19:12
  Speaker 2: the difference with our clients and payments. So this is
• 19:14
  Speaker 2: the new repayment plan. It replaces the repay plan. A
• 19:18
  Speaker 2: lot of people got automatically placed into the Saved plan.
• 19:21
  Speaker 2: If you didn't get automatically placed into save plan is
• 19:23
  Speaker 2: because they couldn't pull your tax information. Now they're just
• 19:26
  Speaker 2: pulling it. So it's good and bad thing. But long
• 19:29
  Speaker 2: story short, this plan as of next year, because I
• 19:32
  Speaker 2: just checked everything again before I got here, it used
• 19:34
  Speaker 2: to be a ten percent repayment, it's going to go
• 19:36
  Speaker 2: down to five percent right now, still holding a ten
• 19:39
  Speaker 2: percent repayment, but the flexibilities of it. They're now letting
• 19:44
  Speaker 2: you say, even though I'm married, I can say that
• 19:47
  Speaker 2: I don't have access to my spouse's information, which is
• 19:50
  Speaker 2: a big deal because if I have one hundred and
• 19:53
  Speaker 2: fifty thousand loans and we may combine two hundred thousand,
• 19:57
  Speaker 2: you think the whole money of the house is going
• 19:59
  Speaker 2: to go to this payment, and most people that's not
• 20:01
  Speaker 2: the case. So now they can say, which is new
• 20:04
  Speaker 2: than before, I cannot access my spouse information, so basically
• 20:08
  Speaker 2: like can you evaluate me on just my information? So
• 20:11
  Speaker 2: it's a big deal to help with people's pay.
• 20:14
  Speaker 4: So, and that's for anybody.
• 20:16
  Speaker 2: Yeah, that's going to be based off of income. So
• 20:20
  Speaker 2: the sweet spot is going to be if you make
• 20:22
  Speaker 2: about forty five thousand that they increase that number used
• 20:25
  Speaker 2: to be like if you made thirty thousand. If you
• 20:27
  Speaker 2: make about forty five thousand, you will have a zero
• 20:29
  Speaker 2: dollar payment. If you are making fifty five and most
• 20:33
  Speaker 2: people make about fifty five to sixty five, that's going
• 20:36
  Speaker 2: to allow you to have like AE hundred dollars payment.
• 20:40
  Speaker 2: So we're really excited about it. We see our clients
• 20:43
  Speaker 2: are like, are you serious, I can afford that, I
• 20:45
  Speaker 2: can start repayment. So we just hear the excitemental of
• 20:48
  Speaker 2: the phone because before they get on the phone with us,
• 20:50
  Speaker 2: their estimated payment is like two thousand dollars because it's
• 20:53
  Speaker 2: just six figure that.
• 20:55
  Speaker 5: Now, all these are payments that have to qualify. They
• 20:57
  Speaker 5: have to be part of a specific program. I know
• 21:00
  Speaker 5: before it was like it had to be like income
• 21:02
  Speaker 5: based and.
• 21:03
  Speaker 2: So David's income driven yep.
• 21:04
  Speaker 5: So yeah, same thing. So it bases on how much
• 21:08
  Speaker 5: you made percentage of that is what you're going to
• 21:10
  Speaker 5: have to pay. Yeah, okay, okay.
• 21:12
  Speaker 2: Quick tip because a lot of people did really well
• 21:14
  Speaker 2: in the pandemic financially. Maybe they had got a side
• 21:17
  Speaker 2: hustle side, but whatever. If that is not your case anymore,
• 21:22
  Speaker 2: welcome to the world. You need to submit a pay stuff.
• 21:25
  Speaker 2: You need to let them know there was a financial change.
• 21:28
  Speaker 2: You can put that it says did anything change? A
• 21:31
  Speaker 2: lot of people skipping and hit No, no, it did change.
• 21:33
  Speaker 2: You're not probably making the same money you made when
• 21:35
  Speaker 2: you did your taxes in the pandemic. So you should
• 21:39
  Speaker 2: let them know.
• 21:39
  Speaker 5: What you report, right for the taxes, so you.
• 21:41
  Speaker 2: Should submit a pay stuff. If that changes, well you
• 21:44
  Speaker 2: would be surprised. Like we, for example, I'm give you
• 21:47
  Speaker 2: a good example. We have clients that are, for example,
• 21:49
  Speaker 2: travel nurses. You know nurses, was you know, running it
• 21:52
  Speaker 2: up in the pandemic because they were needed. Now it's
• 21:56
  Speaker 2: kind of coming down of it, kind of normal workflow.
• 21:58
  Speaker 2: And then one lady says to me, she's said, girl,
• 22:00
  Speaker 2: she said, I made three hundred thousand. She said, this
• 22:03
  Speaker 2: year is looking like ninety thousand. She said, how do
• 22:07
  Speaker 2: I show that difference? We had this centerpay stuff.
• 22:09
  Speaker 5: So if that income repayment was five percent of that,
• 22:13
  Speaker 5: we're talking about a huge difference in payment. Yeah, yeah,
• 22:15
  Speaker 5: that makes sense. Yeah that's good enough.
• 22:18
  Speaker 4: So what about barrowers defense forgiveness?
• 22:21
  Speaker 2: So this program is the funniest one of them all. Like,
• 22:24
  Speaker 2: so the thing about this business when I first started
• 22:27
  Speaker 2: it not to be funny. I was like I started
• 22:29
  Speaker 2: business as consistent. Nothing's changing. This stuff changes every week now,
• 22:34
  Speaker 2: thanks fighting keeps as relevant. So Barbers Defense is one
• 22:38
  Speaker 2: of those programs that literally is changing almost every three
• 22:44
  Speaker 2: to six months. So Barber's Defensive. You went to a
• 22:47
  Speaker 2: school that they identified. There's about two hundred schools, as
• 22:50
  Speaker 2: Secretary of Cardona said, these schools were farug laning. For example,
• 22:53
  Speaker 2: University of Phoenix was on the list. The riders on
• 22:56
  Speaker 2: the list. It t tech know.
• 23:00
  Speaker 5: It sounds like every commercial.
• 23:02
  Speaker 2: Every commercial you ever watched was on the list. Now,
• 23:05
  Speaker 2: so if it was, it was a for profit school
• 23:07
  Speaker 2: with a commercial. Check the list, all right. So when
• 23:10
  Speaker 2: you see your school's name on the list, you're probably thinking, oh,
• 23:14
  Speaker 2: but I didn't go there. No, when I tell you
• 23:17
  Speaker 2: this July they changed the rules again. That said if
• 23:20
  Speaker 2: you ever attended, they're going to ask you a little
• 23:23
  Speaker 2: bit more questions, need a little bit more paperwork, You
• 23:27
  Speaker 2: fill it in, you send it off. In about a
• 23:29
  Speaker 2: year's time, you're probably gonna get forgiven. And with this program,
• 23:33
  Speaker 2: they're giving you back the money you paid on your loans.
• 23:36
  Speaker 2: A checking the mail too, now, I thought it was
• 23:39
  Speaker 2: kind of like BS, I'm not gonna lie but I
• 23:41
  Speaker 2: have a friend who screenshoted me his it T checks,
• 23:44
  Speaker 2: I mean checks, because he paid for his education there.
• 23:48
  Speaker 2: So it's a really great program.
• 23:49
  Speaker 5: So you're applying for these programs and this because most
• 23:53
  Speaker 5: people will say, well, I apply for it, I'm gonna
• 23:55
  Speaker 5: wait to see what the you know, the ruin is
• 23:58
  Speaker 5: they stop paying? All right, what's your thought? Oh?
• 24:02
  Speaker 2: Right now, we're in what's called the on ramp program.
• 24:06
  Speaker 2: On ramp means they just are anticipating people are not
• 24:09
  Speaker 2: about to pay this year, like it's the You have
• 24:13
  Speaker 2: until September thirtieth, twenty and twenty four to get your
• 24:16
  Speaker 2: life together with your student loans. October one, twenty twenty four,
• 24:21
  Speaker 2: they will start to report to your credit They will
• 24:24
  Speaker 2: you will be late, you will be going back into default.
• 24:26
  Speaker 2: They'll take your taxes again, not this year, coming up
• 24:29
  Speaker 2: with the following your twenty five. So you have a
• 24:32
  Speaker 2: year to figure it out. So I say this with grace.
• 24:35
  Speaker 2: If you need to go into forbearance, go into in
• 24:38
  Speaker 2: forbearance because you have this year. That's what this year
• 24:41
  Speaker 2: is for. However, a lot of people don't have to
• 24:44
  Speaker 2: put themselves into forbearance. If your lender is Mohellia in
• 24:47
  Speaker 2: as example, Mohelia is putting people into what's called an
• 24:51
  Speaker 2: administrative for bearance because they can't handle all of the
• 24:54
  Speaker 2: workload that's coming their way. This is new. They even
• 24:58
  Speaker 2: are pulling in other lenders just think of about that
• 25:00
  Speaker 2: to do their work.
• 25:02
  Speaker 5: It's a lot of people.
• 25:03
  Speaker 2: So eight Advantage is now processing all the consolidations for
• 25:07
  Speaker 2: Mohilia right now.
• 25:08
  Speaker 5: So for bearance means that I don't have to I'm
• 25:12
  Speaker 5: putting a pause on the repayment of my loans. Now.
• 25:15
  Speaker 5: When I was in school, and I don't know if
• 25:17
  Speaker 5: this might have changed for a long time, you had
• 25:20
  Speaker 5: six months after you graduated or completed whatever whatever school
• 25:24
  Speaker 5: and you had to begin paying the money back your
• 25:26
  Speaker 5: loan back. If not, you would go into forbearance. Are
• 25:29
  Speaker 5: those rules still a change, Are still the same or
• 25:32
  Speaker 5: have they changed over the best?
• 25:34
  Speaker 2: So the same. So you're talking about you were in
• 25:35
  Speaker 2: school deferment used very words deferment for six months months. Yeah,
• 25:39
  Speaker 2: and then when you was like I still can't pay,
• 25:41
  Speaker 2: you went into forbearance. When I'm talking about what Mohella
• 25:44
  Speaker 2: is doing is putting people into what's called administrator for barans,
• 25:47
  Speaker 2: which they cover the interest and still allow you to
• 25:50
  Speaker 2: get months for PSLF.
• 25:52
  Speaker 5: But those months, those those count toward because it's their fault.
• 25:55
  Speaker 2: Basically, the government is saying this is on us. When
• 25:59
  Speaker 2: there was a pandemic, Pauls, the government said this is
• 26:01
  Speaker 2: on us. So when we were in a pandemic pause,
• 26:04
  Speaker 2: if you had direct loans, you were in an administrative for.
• 26:06
  Speaker 5: Bearance during that time. So this this pandemic pause was
• 26:10
  Speaker 5: two and a half years.
• 26:11
  Speaker 2: We just started paying these two and a half years
• 26:14
  Speaker 2: in my life.
• 26:15
  Speaker 5: So talk about that because I would imagine that as
• 26:19
  Speaker 5: in your profession of you know, teaching people about the
• 26:21
  Speaker 5: importance of student loans. There are some people where you
• 26:25
  Speaker 5: might have suggested, hey, there's no interest on the loan
• 26:27
  Speaker 5: right now, this might be a good time to pay
• 26:29
  Speaker 5: it back. What was that two and a half period
• 26:31
  Speaker 5: like for you on your business?
• 26:35
  Speaker 2: Well, I remember when I got the news. I saw
• 26:39
  Speaker 2: it on TV and I had to sit down for
• 26:40
  Speaker 2: this one. I said no, no, put my glasses on because
• 26:42
  Speaker 2: I couldn't understand what was coming up on the screen.
• 26:45
  Speaker 2: No student loan payments until it was like March. I
• 26:48
  Speaker 2: think I called her first. It was like it shout
• 26:50
  Speaker 2: out to Denise's. So I was like, girl, it's just
• 26:53
  Speaker 2: like a like a thirty day thing. What you think
• 26:55
  Speaker 2: like sixty days because every business owner knows was in
• 26:58
  Speaker 2: their cushion account, like if I had to float my
• 27:01
  Speaker 2: employees and all of that. But when they did that
• 27:04
  Speaker 2: second extension for the year, I said, oh, you know,
• 27:06
  Speaker 2: so now what I did was and honestly, I made
• 27:10
  Speaker 2: a lot of money in the pandemic pause because I'm
• 27:12
  Speaker 2: a creative. So I said, Okay, you don't have a payment,
• 27:16
  Speaker 2: You're going to learn about your loans, You're going to
• 27:18
  Speaker 2: fix other things. So I had put out a student
• 27:21
  Speaker 2: loan ebook. Now that's kind of radical for people to
• 27:23
  Speaker 2: buy a student loon ebolo. Let's just think about that
• 27:25
  Speaker 2: for a second. Who wants to buy ebook around studol loans?
• 27:27
  Speaker 2: But what I did was I said meet me at
• 27:29
  Speaker 2: nine pm. And I probably am the one of the
• 27:32
  Speaker 2: most consistent people on Instagram. I teach every day more
• 27:35
  Speaker 2: than most people. I'm going to either teach you at
• 27:37
  Speaker 2: ten am, nine pm or eleven pm. Sometimes I do
• 27:40
  Speaker 2: two shows a day. So what I was doing was
• 27:43
  Speaker 2: I was building a community and we would have fun.
• 27:47
  Speaker 2: We would we started doing we would do student loan information.
• 27:50
  Speaker 2: First I start off like I'm a reporter. Then my
• 27:52
  Speaker 2: next personality came on. That's me. I would put some
• 27:55
  Speaker 2: glasses on, some Gucci glasses and I would turn the Susie.
• 27:58
  Speaker 2: I mean, it was just really fun times. But here's
• 28:00
  Speaker 2: what happened. It made people actually care about their loans
• 28:04
  Speaker 2: and their credit. And then sometimes we would do Instagram
• 28:08
  Speaker 2: speed dating and I said, in order to join them,
• 28:11
  Speaker 2: remember how you do the lives with different people, you
• 28:13
  Speaker 2: had to have a seven forty credit score better. I
• 28:15
  Speaker 2: mean it was really good times. Now you're like, well,
• 28:17
  Speaker 2: how did you make money? So what happened was in
• 28:20
  Speaker 2: that time period. I think it's because I was very
• 28:23
  Speaker 2: like hands on. I'm a teacher at heart, you know
• 28:25
  Speaker 2: that used to teach as a college professor. I would say,
• 28:29
  Speaker 2: meet me at nine o'clock buying friendly on Zoom, and
• 28:32
  Speaker 2: we would log into our student loans together. We would
• 28:36
  Speaker 2: look at your credit report and I'm like, did you
• 28:38
  Speaker 2: see this? You should do this. So it was just
• 28:40
  Speaker 2: a lot of teaching happening. But I had to shift
• 28:43
  Speaker 2: my mentality as a business owner because he was not
• 28:46
  Speaker 2: going to happen. I wasn't going to close my business
• 28:49
  Speaker 2: because of something that I perceived to be as temporary.
• 28:53
  Speaker 2: Now when we went into the next year, I was like, oh,
• 28:56
  Speaker 2: now we don't know when these loans are coming back.
• 28:59
  Speaker 2: That's when I'm not gonna lie. I think I did
• 29:01
  Speaker 2: it a little nervous, but I also was very wise
• 29:04
  Speaker 2: with the money I had made. So when I made
• 29:06
  Speaker 2: money off of digital products, and I think I was
• 29:09
  Speaker 2: one of the earlier people doing digital products before everybody
• 29:12
  Speaker 2: started doing it. Shout out to my friend Nee Maya.
• 29:15
  Speaker 2: He called me, like, brew up my phone. You gotta
• 29:17
  Speaker 2: have good friends that blow up your phone. And he
• 29:19
  Speaker 2: just said to me, he was like, you need a
• 29:21
  Speaker 2: digital product out of everybody. So when it came out,
• 29:24
  Speaker 2: it did really well. I grabbed a couple of properties
• 29:28
  Speaker 2: and I brought them in cash, and what I did
• 29:30
  Speaker 2: was I renovated them and I did the Airbnb wave.
• 29:33
  Speaker 2: Now we knowbing is or is it what it is now?
• 29:37
  Speaker 2: At the time, people were looking for places to have
• 29:39
  Speaker 2: like a little escape during the pandemic, So me personally,
• 29:43
  Speaker 2: I had to step out of the shelve of the
• 29:45
  Speaker 2: studalone doctor so that things could be sustainable. And I
• 29:48
  Speaker 2: wanted to make sure, like my team has been with
• 29:52
  Speaker 2: me for over five years. At this point, I didn't
• 29:55
  Speaker 2: want to let anybody go. I don't want to go
• 29:57
  Speaker 2: look for good people again. So to send some floating
• 30:01
  Speaker 2: money we call it or just appreciate you money. I
• 30:04
  Speaker 2: needed to be able to generate that otherwise because the
• 30:06
  Speaker 2: student loan doctor business itself wasn't doing great in the
• 30:09
  Speaker 2: last let's say a year and a half, but my
• 30:12
  Speaker 2: endeavors were doing good.
• 30:13
  Speaker 5: So when you see October first, twenty twenty three.
• 30:18
  Speaker 2: You know this is bad to say this, but I
• 30:20
  Speaker 2: was so excited when it was firm whenever payment. That
• 30:22
  Speaker 2: is so bad. I'm sorry, y'all. Like when I tell you,
• 30:26
  Speaker 2: I was like, wait mate, and you know what, I
• 30:28
  Speaker 2: actually missed our clients and they missed us. So we
• 30:31
  Speaker 2: are like probably three weeks booked out at this point,
• 30:34
  Speaker 2: which is a good average. We don't want to be
• 30:35
  Speaker 2: that far booked out. Shout out to my amazing team.
• 30:38
  Speaker 2: I'm like, because you know, they work part time. Most
• 30:40
  Speaker 2: of them work part time, some work full time. The
• 30:42
  Speaker 2: ones that work part time, I'm like, do you got pt?
• 30:44
  Speaker 2: It's your full time to handle this calendar of calls.
• 30:47
  Speaker 2: So it's been really good to be so received back
• 30:50
  Speaker 2: I've even started a training program where I've been training
• 30:53
  Speaker 2: other experts because the reality is this is a trillion
• 30:56
  Speaker 2: dollar problem and I don't envision myself running a call
• 31:01
  Speaker 2: center of staff. I don't want that. That is not
• 31:04
  Speaker 2: my sweet side. Everybody knows what their sweet spot is.
• 31:06
  Speaker 2: I'm a creative, but I don't want to be a
• 31:09
  Speaker 2: manager in that sense.
• 31:10
  Speaker 4: Let me ask you this, I want to do a loanside.
• 31:13
  Speaker 4: What's the on ramp program?
• 31:15
  Speaker 2: So we talked about the on ramp program is the
• 31:17
  Speaker 2: one that everybody is technically in, whether you exit mean
• 31:20
  Speaker 2: it or not. You don't got a call for this guys.
• 31:22
  Speaker 2: If you wish just to say next month, I can't
• 31:24
  Speaker 2: afford this payment, I'm trying to figure out how now
• 31:26
  Speaker 2: to do. You don't have to call them and tell
• 31:28
  Speaker 2: them the payment just will add up. Now, some people
• 31:33
  Speaker 2: can go into forbearance if you want to that you're
• 31:35
  Speaker 2: not getting behind, but you're not going to be penalized.
• 31:38
  Speaker 4: Well, how do interest rates work on through the loans,
• 31:41
  Speaker 4: because I know it's.
• 31:42
  Speaker 2: Like they're regulated yep.
• 31:44
  Speaker 4: Yeah, but there's different right if it's just federal to
• 31:47
  Speaker 4: a loan as opposed to private private.
• 31:50
  Speaker 2: Okay, So Federal interest rates are regulated and are announced
• 31:53
  Speaker 2: every July. Private loans they're not regulated, and they can change.
• 32:00
  Speaker 2: It could be whimsic.
• 32:01
  Speaker 4: Cool, thanks your incommon stuff.
• 32:03
  Speaker 2: No, the income you could be your credit. Let's say
• 32:05
  Speaker 2: you missed a payment on your Macy's card. Your private
• 32:08
  Speaker 2: loan could change your interest rates.
• 32:11
  Speaker 4: But like for people that's going into college or parents,
• 32:13
  Speaker 4: what are the best practice is for them to ask
• 32:16
  Speaker 4: private loans, don't apply for private loans.
• 32:18
  Speaker 2: So I have a philosophy and people don't like it,
• 32:20
  Speaker 2: but I'll say it like, don't go to a school
• 32:23
  Speaker 2: you can't pay for you can't afford. And what I
• 32:25
  Speaker 2: mean by that is it's like, Okay, if it's in
• 32:27
  Speaker 2: your plan to use a federal loan, okay, I'm with it,
• 32:32
  Speaker 2: because there are parameters to keep you safe financially. But
• 32:36
  Speaker 2: when we start talking about going to institutions that require
• 32:38
  Speaker 2: you to use a private loan, that may not be
• 32:42
  Speaker 2: the best choice because that private loan is forever.
• 32:45
  Speaker 4: So is there any what's the difference between a federal
• 32:48
  Speaker 4: and private loan? Federal loan just go there. And is
• 32:51
  Speaker 4: there any instance where a private loan is actually more
• 32:53
  Speaker 4: beneficial than a federal loan.
• 32:55
  Speaker 2: I haven't seen it. So federal loans are regulated by
• 32:57
  Speaker 2: the government. So this is where you have a certain
• 33:00
  Speaker 2: amount that you can borrow every year, even through grad school,
• 33:04
  Speaker 2: even through getting like a doctoral program. But this is
• 33:06
  Speaker 2: to protect you. So for example, when the pandemic had
• 33:09
  Speaker 2: been we would have never thought we would have had
• 33:11
  Speaker 2: a pandemic. Right, the government says, we got your interests,
• 33:14
  Speaker 2: we've got your payment. This is on us. Those that
• 33:17
  Speaker 2: had private loans, they didn't get a pause. That was
• 33:20
  Speaker 2: and it was really hard for us to hear those
• 33:22
  Speaker 2: calls and those cries because there is nothing you can
• 33:25
  Speaker 2: do when you have a private loan. In that sense,
• 33:28
  Speaker 2: there's no palls.
• 33:29
  Speaker 5: So a private loan ernerds, what's up. You ever walk
• 33:32
  Speaker 5: into a small business and everything just works, like the
• 33:36
  Speaker 5: checkout is fast, or seats are digital, tipping is a breeze,
• 33:40
  Speaker 5: and you're out the door before the line even builds.
• 33:42
  Speaker 5: Odds are they're using Square. We love supporting businesses that
• 33:47
  Speaker 5: run on Square because it just feels seamless. Whether it's
• 33:49
  Speaker 5: a local coffee shop, a vendor at a pop up market,
• 33:53
  Speaker 5: or even one of our merch partners. Square makes it
• 33:56
  Speaker 5: easy for them to take payments, manage inventory, and run
• 33:59
  Speaker 5: their business with confidence, all from one simple system. If
• 34:03
  Speaker 5: you're a business owner or even just thinking about launching
• 34:06
  Speaker 5: something soon, Square is hands down one of the best
• 34:09
  Speaker 5: tools out there to help you start, run, and grow.
• 34:12
  Speaker 5: It's not just about payments, it's about giving you time
• 34:16
  Speaker 5: back so you can focus on what matters most ready.
• 34:19
  Speaker 5: To see how Square can transform your business, visit Square
• 34:22
  Speaker 5: dot com backslash, go backslash eyl to learn more that
• 34:27
  Speaker 5: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate,
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  Speaker 5: Let Square handle the back end so you can keep
• 34:35
  Speaker 5: pushing your vision forward. This episode is brought to you
• 34:41
  Speaker 5: by P and C Bank. A lot of people think
• 34:43
  Speaker 5: podcasts about work are boring, and sure they definitely can be,
• 34:48
  Speaker 5: but understanding a professionals routine shows us how they achieve
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  Speaker 5: banking with P and C Bank. It might seem boring
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  Speaker 5: to save, plan and make calculated decisions with your bank,
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  Speaker 5: P and C Bank National Association Member FDIC.
• 35:21
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 35:25
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 35:29
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 35:33
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 35:37
  Speaker 1: some of the heinous migrant criminals caught because of President
• 35:41
  Speaker 1: Donald J.
• 35:42
  Speaker 2: Trump's leadership.
• 35:43
  Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.
• 35:47
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 35:51
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.
• 35:55
  Speaker 3: Have been arrested.
• 35:56
  Speaker 1: If you are here illegally, your next you will find
• 36:00
  Speaker 1: nearly one thousand dollars a day, imprisoned and deported. You
• 36:04
  Speaker 1: will never return. But if you register using our CBP
• 36:08
  Speaker 1: home app and leave now, you could be allowed to
• 36:11
  Speaker 1: return legally. Do what's right.
• 36:13
  Speaker 2: Leave now.
• 36:14
  Speaker 1: Under President Trump, America's laws border and families will be protected.
• 36:19
  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 36:22
  Speaker 2: Oh, it's going to be beneficial if you have to
• 36:25
  Speaker 2: close the gap. And I just have to say this,
• 36:27
  Speaker 2: like if you have to go to that institution, because
• 36:30
  Speaker 2: a community college or a state college is not going
• 36:33
  Speaker 2: to calls for you non tiense o't intend to use
• 36:35
  Speaker 2: a private loan if you want to go to an
• 36:39
  Speaker 2: Ivy League school, if you want to go to an
• 36:42
  Speaker 2: HBCU and there's not a scholarship present, yeah, a private
• 36:45
  Speaker 2: loan closer to gap.
• 36:46
  Speaker 5: Yeah. So because a lot of I mean even a
• 36:48
  Speaker 5: lot of the Ivy League schools, the funding from the
• 36:51
  Speaker 5: government is very minimal. So even I mean at some
• 36:54
  Speaker 5: of the state schools. Because when we talk about affordability now,
• 36:57
  Speaker 5: because it's almost like that is the only object, right,
• 37:01
  Speaker 5: Because when a person fills out the Fasta, let's sit,
• 37:03
  Speaker 5: theyre a middle class family and you know they bring
• 37:05
  Speaker 5: in one hundred and fifty thousand.
• 37:06
  Speaker 2: We call it the sticky middle exactly.
• 37:08
  Speaker 5: So people who parents are in that middle class, they
• 37:11
  Speaker 5: fill out the Fasta right, because in order to even
• 37:14
  Speaker 5: get the student loan right, you have to fill that
• 37:16
  Speaker 5: out first. They'll tell you they're giving you nine hundred
• 37:18
  Speaker 5: dollars a semester, but the tuition is eight thousand or
• 37:21
  Speaker 5: fifteen thousand, a semester. There's a gap there, and so
• 37:25
  Speaker 5: this is when now it's like, if I want to
• 37:27
  Speaker 5: go to school, the options are I got to come
• 37:29
  Speaker 5: up with this money or take out private loans. And
• 37:32
  Speaker 5: so is your suggestion all right? Maybe if it's fifteen thousand,
• 37:36
  Speaker 5: this isn't the place for me.
• 37:39
  Speaker 2: Yeah, the unpopular opinion. And we'll see how these comments go.
• 37:43
  Speaker 2: I'm going to stand doing don't go, because see, you
• 37:45
  Speaker 2: got to remember, we're taking calls every day from people
• 37:50
  Speaker 2: who are crying over decisions that they made ten twenty
• 37:54
  Speaker 2: years ago that weren't wise. We're taught like you should
• 37:57
  Speaker 2: hear how these parents are talking about their kids like
• 37:59
  Speaker 2: you can hear. Don't go into another room. Or let's
• 38:01
  Speaker 2: say the kids are grown now and she ain't even
• 38:04
  Speaker 2: finished and now she want to be a bartender. And
• 38:08
  Speaker 2: so now even parent plus zones are like the bane
• 38:11
  Speaker 2: of our existence because it's like the worst federal loans
• 38:14
  Speaker 2: possible solus. So parent plus loons is when a parent
• 38:18
  Speaker 2: gets involved and takes out money on behalf of their child,
• 38:21
  Speaker 2: but the interest rate is eight percent and they only
• 38:24
  Speaker 2: have one income driven repayment plan instead of it being
• 38:27
  Speaker 2: like a five percent margin like we talked about, it's
• 38:29
  Speaker 2: twenty percent. It's just the worst plan. It's literally like
• 38:33
  Speaker 2: a private loan. Again, it's just protected and things of
• 38:37
  Speaker 2: like a pandemic. Right, But to hear the calls that
• 38:41
  Speaker 2: we take like somebody, this is true story. Oh but
• 38:45
  Speaker 2: I was so happy he just got forgiven. He had
• 38:48
  Speaker 2: three hundred thousand and parent plus loans. He has three
• 38:52
  Speaker 2: kids that went to Ivy League educations. He's a doctor,
• 38:57
  Speaker 2: so he thought that I can do it because I'm
• 38:59
  Speaker 2: a doctor. Look, they might want to be doctors, right,
• 39:03
  Speaker 2: but the bill was on him. So you know me,
• 39:07
  Speaker 2: I was like, well, are they doctors? Because these are
• 39:09
  Speaker 2: older that's why he got them forgiven. He was like no,
• 39:12
  Speaker 2: I'm like what do they do? And then he was
• 39:15
  Speaker 2: like you don't want to know. One is only making
• 39:17
  Speaker 2: thirty thousand year because he's the numbers guy. He's making
• 39:21
  Speaker 2: three hundred and fifty thousand a year. He owes three
• 39:25
  Speaker 2: hundred thousand. I think he had like fifty thousand is old,
• 39:27
  Speaker 2: so let's say three fifty. But his kids are making
• 39:29
  Speaker 2: less than one hundred thousand. This was not a good investment.
• 39:32
  Speaker 2: But we can't say to our kids, you failed me.
• 39:35
  Speaker 2: You know, like he can change your minds.
• 39:39
  Speaker 5: My parents had a parent plus loan. Thankfully it wasn't
• 39:41
  Speaker 5: all right, Yeah, they got I mean, so the first
• 39:44
  Speaker 5: two years I went to school again, fast Ford was
• 39:47
  Speaker 5: like nine hundred dollars and there was that gap. So
• 39:50
  Speaker 5: rather than trying to take a private loan, we did
• 39:52
  Speaker 5: the parent plus loan and it kind of eased the gap.
• 39:54
  Speaker 5: But then the final two years it was like I
• 39:56
  Speaker 5: had to do in private because I didn't want to
• 39:58
  Speaker 5: put more debt on them. That was I've always been
• 40:01
  Speaker 5: thinking about, you know, my family. Yeah, and so but again,
• 40:04
  Speaker 5: those interest rates they climb and when you do private,
• 40:07
  Speaker 5: like you said, it could be anything. It could be
• 40:09
  Speaker 5: one thing you didn't pay, like you said, your Macy's card.
• 40:13
  Speaker 5: And now the interest rate that started at five percent
• 40:16
  Speaker 5: go to like eleven.
• 40:16
  Speaker 2: For now, I've seen somebody go from nine percent to
• 40:19
  Speaker 2: nineteen point nine, not much of a difference.
• 40:20
  Speaker 5: In me, it's crazy. It's crazy. So I mean for
• 40:23
  Speaker 5: young adults who are sixteen, seventeen, eighteen, well seventeen eighteen
• 40:27
  Speaker 5: about to go to college, and I know it doesn't
• 40:30
  Speaker 5: sound sexy, but community college probably the safest and most
• 40:35
  Speaker 5: financially I'm okay, colleges, stay colleges.
• 40:38
  Speaker 2: I'm okay for you to go where you want to
• 40:40
  Speaker 2: go if somebody else can help pay in terms of
• 40:42
  Speaker 2: a scholarship. And then the other thing is I think
• 40:45
  Speaker 2: this is where parents and those that are going to
• 40:47
  Speaker 2: be parents that are watching this show have to understand
• 40:50
  Speaker 2: that there is still an accountability there. Like, for example,
• 40:53
  Speaker 2: what does scholarship Sunday look like at your house? If
• 40:56
  Speaker 2: your child is in high school, you're probably like, well,
• 40:59
  Speaker 2: we don't do scholarships Sunday. We want to start so,
• 41:02
  Speaker 2: meaning you have to sit down with your child and say,
• 41:05
  Speaker 2: in junior year, not really senior, more so junior year,
• 41:08
  Speaker 2: what scholarships are we thinking about applying for? Like did
• 41:11
  Speaker 2: you did you write that? Let's say, can I read
• 41:12
  Speaker 2: it for you? Because if we don't push our children
• 41:15
  Speaker 2: to apply and we're not in that as a partner
• 41:17
  Speaker 2: with them, it will fall back on you as mom.
• 41:21
  Speaker 5: Or dad or take them to the park.
• 41:22
  Speaker 2: And the thing that we see that we're most.
• 41:24
  Speaker 5: Get a wicked jump shot, right, child had.
• 41:27
  Speaker 2: No skills like that? Then that hopefully they're academic. Yeah, right,
• 41:30
  Speaker 2: Like like for example, I knew I wasn't gonna get
• 41:32
  Speaker 2: no sports scholarship. That's you know, we're not going to
• 41:34
  Speaker 2: do that, but I'm smart. Okay. So my mom got
• 41:39
  Speaker 2: really really sick my junior year, like she almost died.
• 41:42
  Speaker 2: So the plan, we had a plan. The plan was
• 41:44
  Speaker 2: she was making at that time. It's just me and
• 41:46
  Speaker 2: hermone child about sixty five thousand a year back in
• 41:49
  Speaker 2: the two thousands. That's pretty okay. She's she was going
• 41:52
  Speaker 2: to send me to a state college. And her plan
• 41:55
  Speaker 2: was she was going to make payments for the difference
• 41:57
  Speaker 2: of whatever I didn't even receive from pastvor right, that
• 41:59
  Speaker 2: was we had a plan. Well, when she got sick
• 42:02
  Speaker 2: and lost her hearing, she had to retire early as
• 42:04
  Speaker 2: a teacher. The plan is now going. So I was like,
• 42:07
  Speaker 2: but the plan ain't here to stay in Philly. So
• 42:09
  Speaker 2: I had to do what apply for every scholarship known
• 42:13
  Speaker 2: to men. I can remember the day I knocked on
• 42:16
  Speaker 2: my principal's door and I was like, whatever scholarships I
• 42:19
  Speaker 2: can be considered for, I need to be considered. They
• 42:21
  Speaker 2: all knew what was happening with my mom. I went
• 42:23
  Speaker 2: to a small high school, so on graduation day I
• 42:25
  Speaker 2: left with seventeen thousand in scholarships. When I got to school.
• 42:30
  Speaker 2: It didn't stop. Somebody still got paid for this. I
• 42:33
  Speaker 2: knocked on every door there was before websites, and I'm
• 42:35
  Speaker 2: not that old, but I just knew. I think people
• 42:37
  Speaker 2: know you better every dean's story. I'm not making this up.
• 42:41
  Speaker 2: Had my sneakers on that day and I wind up.
• 42:44
  Speaker 2: By the end of the day, I was able to
• 42:46
  Speaker 2: apply for a full ride. So I got that. Oh
• 42:48
  Speaker 2: but don't stop there because you need pocket money. Remember
• 42:51
  Speaker 2: my mom is say, I'm not working, she's deaf. I
• 42:53
  Speaker 2: gotta send money home now because I'm a responsible college dudent.
• 42:57
  Speaker 2: Now I got to get the scholarship for the books.
• 43:00
  Speaker 2: It was a flyer that said, tell us about a
• 43:01
  Speaker 2: traumatic experience you've overcome to go to college. I've got
• 43:04
  Speaker 2: several off of Philly. So I wrote that up and
• 43:06
  Speaker 2: set that in. I got that to fifty. Like when
• 43:09
  Speaker 2: I tell you, if you talk too loud about a scholarship,
• 43:11
  Speaker 2: I probably took your scholarship like I was. I had
• 43:14
  Speaker 2: to graduate. So that and so when so when I
• 43:18
  Speaker 2: meet students and parents that I don't have that dog
• 43:20
  Speaker 2: or that understanding, I'm like, you gotta have some money
• 43:23
  Speaker 2: tuck aside because it went from my mind with a
• 43:26
  Speaker 2: game plan to us having to rely on my grandmother,
• 43:29
  Speaker 2: who was a retired school teacher. Her retirement probably paid
• 43:32
  Speaker 2: forty three people on forty k. It's not gonna put
• 43:34
  Speaker 2: somebody through college, even after that little loan they give you.
• 43:38
  Speaker 2: My mommy had no credit. Again, she's not working. So
• 43:42
  Speaker 2: it was just so much. I remember that experience, so
• 43:44
  Speaker 2: when I talked to students, like if I go to
• 43:46
  Speaker 2: a high school, for example, or I'm speaking to a
• 43:49
  Speaker 2: freshman class in college, I'm gonna give you my story
• 43:51
  Speaker 2: because something has to change, somebody or something has to
• 43:55
  Speaker 2: pay for this experience. If you wanted to be whatever
• 43:57
  Speaker 2: you wanted to be, that's you're alone that you're about
• 44:00
  Speaker 2: to leave with. Life in the twenties and thirties aren't
• 44:03
  Speaker 2: going to be as funny as you think. So because
• 44:05
  Speaker 2: when it's time to hone by, we didn't even talk
• 44:07
  Speaker 2: about dating marriages. Like when it's time to sit at
• 44:12
  Speaker 2: the table, let's say, I'm like like, hey, with Shan,
• 44:15
  Speaker 2: you know I'm interested with Shad. Got to you this
• 44:18
  Speaker 2: is good with Sean. With Shy, you didn't do it
• 44:20
  Speaker 2: all this episode. Can you let the people know why
• 44:22
  Speaker 2: you're so.
• 44:23
  Speaker 4: Quiet about loans. Yeah, no, I didn't have to loans.
• 44:27
  Speaker 2: So if you guys ever go see the first one.
• 44:29
  Speaker 2: He was like sophomore year scholarship. All right, but let's
• 44:34
  Speaker 2: just say we're about to date, right, And I know
• 44:39
  Speaker 2: that you were probably asked or I don't even know
• 44:41
  Speaker 2: if you ask people this. But at some point the
• 44:43
  Speaker 2: financial analysts and conservative when you you will want to
• 44:47
  Speaker 2: have a conversation about debt. But if I'm sent across
• 44:51
  Speaker 2: from you, no, you got a life story, because it's
• 44:53
  Speaker 2: gonna even better if you jibing. But like, what if
• 44:56
  Speaker 2: you wanted to date a girl that had three hundred
• 44:59
  Speaker 2: thousand loans? No, let's just go there for a second.
• 45:01
  Speaker 4: So talk about your artist.
• 45:03
  Speaker 5: Let's go, let's go there, let's go there that.
• 45:06
  Speaker 4: If I'm thinking somebody at two hund thousand and loans,
• 45:07
  Speaker 4: how does that impact me?
• 45:08
  Speaker 2: Are you dating them? Yes?
• 45:09
  Speaker 5: Or no?
• 45:10
  Speaker 2: Now this is what you're saying.
• 45:12
  Speaker 5: Are you going to date them? If you know that?
• 45:14
  Speaker 4: Well, I'm well, I'm asking is that gonna have any
• 45:18
  Speaker 4: impact on my life?
• 45:19
  Speaker 3: Is it?
• 45:21
  Speaker 4: I don't think so? Probably not.
• 45:23
  Speaker 2: But what happens because my jobs don't guarantee what happens
• 45:26
  Speaker 2: if I lose my job.
• 45:27
  Speaker 4: You said dating or married too much.
• 45:29
  Speaker 2: I think we should date to marry. What you think, Well,
• 45:31
  Speaker 2: you got a.
• 45:32
  Speaker 4: Date before you get married. You're trying. No, I'm just
• 45:37
  Speaker 4: saying as far as I feel at like, if you're
• 45:39
  Speaker 4: getting married.
• 45:40
  Speaker 2: Right, Okay, this is good because these are the convers people.
• 45:43
  Speaker 4: That this is real if you're married to somebody. So,
• 45:48
  Speaker 4: how does that work? Your dad become their dead?
• 45:50
  Speaker 2: Well, it depends on how you were raising what you think.
• 45:52
  Speaker 2: So I'm gonna give you a good example. And I'm
• 45:54
  Speaker 2: only trolling with him for fun, but when I actually
• 45:58
  Speaker 2: do appointment, I'm not trying to be funny. Men book
• 46:02
  Speaker 2: a lot of Denise knows it's appointments for women that
• 46:05
  Speaker 2: they are planning to propose to. I know when that
• 46:08
  Speaker 2: woe's going to get a proposal before that men ever
• 46:10
  Speaker 2: annow stick why because he will call in listen, I
• 46:15
  Speaker 2: want to book my girlfriend. I'm think about proposing, but
• 46:17
  Speaker 2: she got one hundred thousand, and you know she had
• 46:19
  Speaker 2: a teacher, but she don't be knowing about this stuff.
• 46:21
  Speaker 2: And I got to see her get on like it's
• 46:23
  Speaker 2: called PSI left before I propose. Like he wants to
• 46:26
  Speaker 2: know that there's a plan in place before going that
• 46:29
  Speaker 2: route because what could it affect. It could affect if
• 46:33
  Speaker 2: they were during joint taxes taking the taxes. It could
• 46:37
  Speaker 2: affect the fault. And if you get into what we
• 46:39
  Speaker 2: call a permanent default, you in default for that hundred
• 46:42
  Speaker 2: k forever.
• 46:42
  Speaker 4: So what happens if you don't pay ste the homes?
• 46:44
  Speaker 2: Yeah? The fault?
• 46:45
  Speaker 4: What does that mean?
• 46:46
  Speaker 6: Yeah?
• 46:46
  Speaker 2: So after two hundred and seventy days missed, now we're
• 46:50
  Speaker 2: going to go into what we call default. Now there's
• 46:52
  Speaker 2: stages of default. The first time we go in default,
• 46:54
  Speaker 2: you can get out. You can do a consolidation. Well,
• 46:57
  Speaker 2: the program right now, if everybody's listening, is called fresh Star.
• 47:00
  Speaker 2: It's literally one click. You probably will get out a
• 47:04
  Speaker 2: few months, right, but that's going to go away. I
• 47:06
  Speaker 2: think Denise in like a year, one more year. So
• 47:09
  Speaker 2: when that's done, it's back to what it was before,
• 47:12
  Speaker 2: which is are you consolidating if eligible or are you
• 47:15
  Speaker 2: going to do the nine payments could be five dollar
• 47:18
  Speaker 2: payments on time, you know, I mean people don't make
• 47:20
  Speaker 2: nine five dollar payments and then they never get out.
• 47:23
  Speaker 2: So I met a gentleman and I was so excited
• 47:27
  Speaker 2: when this Fresh Start program came out, he was in
• 47:30
  Speaker 2: a permanent default. He burned every option to get out twice.
• 47:34
  Speaker 2: It's two options consolidation five dollars, nine times for forty thousand,
• 47:40
  Speaker 2: everybody following. So he was in a permanent default for
• 47:42
  Speaker 2: forty thousand unless he came up with forty thousand. And
• 47:46
  Speaker 2: they didn't even want to take payments from him, like
• 47:48
  Speaker 2: it was bad, like they don't care. At this point,
• 47:50
  Speaker 2: he was like I could do three hundred a month,
• 47:52
  Speaker 2: we need six hundred, Like they don't have to negotiate
• 47:55
  Speaker 2: with you at that point. So I was so excited
• 47:59
  Speaker 2: when Fresh Start came out because he was actually one
• 48:01
  Speaker 2: of those people where he literally got what's called a
• 48:04
  Speaker 2: fresh start. He's out of the fault. Now if he
• 48:07
  Speaker 2: messed up again, then it's his last.
• 48:08
  Speaker 4: Well, like what exact, because it's all right, let's say
• 48:11
  Speaker 4: child support, right, if you don't pay child support payments,
• 48:13
  Speaker 4: you can forfeit your passport. Uh huh, they can take
• 48:18
  Speaker 4: money from your paycheck yep, and the worst case scenario,
• 48:21
  Speaker 4: then they can put you in jail.
• 48:22
  Speaker 2: Yep. So like like what are the re the loans, taxes, paycheck,
• 48:28
  Speaker 2: never able to buy a house.
• 48:29
  Speaker 4: So they could they could take they could take money
• 48:31
  Speaker 4: out of your paycheck. Yeah, they could take money out.
• 48:33
  Speaker 2: Of your taxes, taxes and then home buying for with
• 48:36
  Speaker 2: the federal loan product like an faha, bha, No, it's
• 48:40
  Speaker 2: a federal loan you right birthday?
• 48:43
  Speaker 4: So and are there any student loans that don't require
• 48:46
  Speaker 4: credit check for.
• 48:48
  Speaker 2: Federal Well, federal loans don't require credit check, let's be clear,
• 48:51
  Speaker 2: Like it's almost like the biggest loan that you ever
• 48:53
  Speaker 2: get in America without a credit check. You went to school,
• 48:55
  Speaker 2: you're eligible. You have a high school to anybody can
• 48:57
  Speaker 2: get it if you have a high school diploma.
• 48:59
  Speaker 4: She did. It's limited amounts, limited.
• 49:01
  Speaker 2: Amounts, right, protective amounts. It's the credit checks don't come
• 49:05
  Speaker 2: in until you're trying to do like graduate plus.
• 49:07
  Speaker 4: Loans or private loans. Yeah, you needed for private loans.
• 49:10
  Speaker 2: Private loans for sure. Yeah, I'm a true story. Before
• 49:14
  Speaker 2: my credit was good, I had to get a graduate
• 49:16
  Speaker 2: loan and it wasn't good, so they denied it. So
• 49:19
  Speaker 2: I wrote on the pill and I never forget. Her
• 49:21
  Speaker 2: name was Keisha, so I knew she was black. Keisha
• 49:23
  Speaker 2: was like, no worries, I got you, and she approved it.
• 49:26
  Speaker 2: Shout out to Keisha. Oh she still worked there.
• 49:28
  Speaker 5: Because there's no student loans for grad.
• 49:31
  Speaker 2: School, well graduate plus loans or private loans.
• 49:34
  Speaker 5: Oh yeah, the private ones.
• 49:35
  Speaker 2: But they can say no to you. So that's why
• 49:37
  Speaker 2: the story was funny. Dang, I'm not going to be
• 49:39
  Speaker 2: finish my last semester. And then Keisha, you know, I
• 49:42
  Speaker 2: wrote a little letter. She approved.
• 49:43
  Speaker 4: So how much money do you need to go to college?
• 49:46
  Speaker 2: Well, where are you going? So community college? I guess
• 49:49
  Speaker 2: we were talking about like twenty twenty five thousand. If
• 49:51
  Speaker 2: we're talking about state college, is now like sixty seventy?
• 49:56
  Speaker 5: Now are we per year? No?
• 49:57
  Speaker 2: Total?
• 49:58
  Speaker 5: Total total?
• 49:59
  Speaker 2: Are we talking about private institutions like HBCUs might be like,
• 50:03
  Speaker 2: what do you say, like twenty five thirty a year?
• 50:06
  Speaker 2: Probably yeah, And again it's all about your experience. So
• 50:09
  Speaker 2: my game plan was I didn't go to a HBCU.
• 50:12
  Speaker 2: I went to a predominantly white school. Shout out to
• 50:14
  Speaker 2: Bloomsburg University, and they gave me a whole lot of
• 50:17
  Speaker 2: scholarship and on the weekends I went to the HBCU.
• 50:20
  Speaker 4: So like for parents that has kids, now you would
• 50:23
  Speaker 4: say that in order to you if you want to
• 50:26
  Speaker 4: pay for your children's education in cash and ten years,
• 50:30
  Speaker 4: Let's say you would need at least two hundred fifty
• 50:31
  Speaker 4: thousand dollars on the safe side, because that would probably
• 50:35
  Speaker 4: cover a private a top private.
• 50:37
  Speaker 2: School, if that's where you want to go.
• 50:38
  Speaker 4: Yeah.
• 50:39
  Speaker 2: Now, remember there are certain Ivy League schools that are
• 50:42
  Speaker 2: now saying if you make under I think the number
• 50:44
  Speaker 2: is sixty thousand a year according to your taxes, they'll
• 50:47
  Speaker 2: give that child a free ride.
• 50:50
  Speaker 5: So this is crazy, right, because when you think about
• 50:53
  Speaker 5: all types of debt, especially in business, you can file
• 50:57
  Speaker 5: for bankruptcy right Chapter eleven. No, are there any cases
• 51:02
  Speaker 5: where student loan can be qualified in that?
• 51:04
  Speaker 2: More recently, there have been several successful cases where bankruptcy
• 51:09
  Speaker 2: and federal student loans have happened and occurred. You see
• 51:12
  Speaker 2: different politicians and lawmakers advocating for that. So there is
• 51:17
  Speaker 2: actually a and it's so new it's hard to speak on,
• 51:20
  Speaker 2: but there is about a fifteen twenty page package that
• 51:24
  Speaker 2: you can fill out to apply for your student loans
• 51:27
  Speaker 2: to be included in a bankruptcy. You have to go
• 51:30
  Speaker 2: to a bankruptcy attorney in your state, and you have
• 51:33
  Speaker 2: to go to one that's qualified. And if you are
• 51:36
  Speaker 2: asking them questions and they don't even know that this
• 51:38
  Speaker 2: pag exists. Don't pay them, That's my rule of thumb.
• 51:40
  Speaker 2: But there are some good attorneys that are up to
• 51:42
  Speaker 2: the latest information and it can be submitted.
• 51:45
  Speaker 6: Now.
• 51:45
  Speaker 2: This is like as of like the last two years.
• 51:48
  Speaker 5: Yeah, because I'm thinking forty three million people in that Yeah,
• 51:53
  Speaker 5: repayments are just starting. There's gonna be plenty of forbearance
• 51:59
  Speaker 5: and there'll be plenty of defaults and some people just
• 52:02
  Speaker 5: won't be able to pay, and so forgiveness programs are great,
• 52:05
  Speaker 5: but everybody won't qualify, No, and so some people are
• 52:08
  Speaker 5: going to have to figure out another route. And so
• 52:10
  Speaker 5: I could in my mind, I don't know, you probably agree.
• 52:12
  Speaker 5: I can see legislation being changed to add this is.
• 52:16
  Speaker 2: Actively being work doing. So I saw the package, I
• 52:20
  Speaker 2: was like, oh, this is very so the questions they
• 52:22
  Speaker 2: ask for, like tell us about how your student loan
• 52:25
  Speaker 2: debt would impact X RAYN like, so you have to
• 52:27
  Speaker 2: have time. You want to get a professional to help
• 52:30
  Speaker 2: you answer those questions. And like I said, very rare cases.
• 52:34
  Speaker 2: It hasn't been fully publicized, but it is being approved.
• 52:37
  Speaker 2: Now we're talking like astronomical student loan debt like four
• 52:40
  Speaker 2: hundred and thirty thousand though, so that was one of
• 52:44
  Speaker 2: the cases.
• 52:45
  Speaker 4: So how does it affect your credit score?
• 52:48
  Speaker 2: Well, so it's still a debt and it's not a
• 52:50
  Speaker 2: reviving line. So it's so basically it's like it's like
• 52:54
  Speaker 2: a rock on your credits. I always explain it. And
• 52:57
  Speaker 2: when you start to pay on the principle, like let's
• 52:59
  Speaker 2: say eighty thousand, and you put extra money and it
• 53:02
  Speaker 2: starts to shrink, your credit score goes up. It's like, oh,
• 53:05
  Speaker 2: it's getting paid down. But the moment it comes off.
• 53:08
  Speaker 2: So to those of you that all got forgiven, congratulations,
• 53:12
  Speaker 2: but we're going to also hear a negative turn in
• 53:15
  Speaker 2: the next sixteen to ninety days. Everyone that got forgiven,
• 53:18
  Speaker 2: their scores are going to plummet, especially when you talk
• 53:22
  Speaker 2: about one hundred and fifty thousand and forgiven, three hundred
• 53:24
  Speaker 2: thousand and forgiven. So if they were hoping to hone by,
• 53:29
  Speaker 2: it's like, could you do it like today or could
• 53:31
  Speaker 2: you wait until you see what your new score is? Thing.
• 53:35
  Speaker 4: So when Biden, he tried to have a bigger plan,
• 53:38
  Speaker 4: but the Supreme Court blocked it.
• 53:41
  Speaker 2: Right, Yeah, a couple.
• 53:42
  Speaker 4: Months ago, what was that.
• 53:45
  Speaker 2: So, but that was all in my opinion, like that
• 53:48
  Speaker 2: was the plan to be blocked. So I'm not a lawyer,
• 53:51
  Speaker 2: and I knew that when I read it. When it
• 53:53
  Speaker 2: came out, I was like, it's not going to go through.
• 53:56
  Speaker 2: We were hoping, we were hopeful, but the legislation that
• 53:59
  Speaker 2: were underwe in the proper legislation, it was too much
• 54:03
  Speaker 2: red tape, too many opinions, too many signatures needed. So
• 54:07
  Speaker 2: the new program is going to come back under nineteen
• 54:11
  Speaker 2: sixty five Higher Education Act. That's someone we think is
• 54:14
  Speaker 2: going to be able to be passed under. Because Lyndon B.
• 54:17
  Speaker 2: Johnson already stilled the deal. How much would that Well,
• 54:21
  Speaker 2: you haven't interestingly enough. I know I read it to you,
• 54:23
  Speaker 2: but they haven't given our numbers yet, but they have
• 54:25
  Speaker 2: been sure to say that if you don't do by
• 54:28
  Speaker 2: December thirty verse that f f ELP conversion, they're going
• 54:31
  Speaker 2: to exclude about close to ten million people.
• 54:36
  Speaker 4: So do you ever think there's a time where it
• 54:38
  Speaker 4: just all student loan will be forgiven?
• 54:40
  Speaker 2: Why would that be beneficial?
• 54:43
  Speaker 4: Well, if people it was a student loan crisis, right,
• 54:47
  Speaker 4: and you have millions of people who just can't pay
• 54:50
  Speaker 4: their student loans, then that probably will.
• 54:53
  Speaker 2: Have more of our statistically who can't pay their stuitent loans.
• 54:57
  Speaker 4: Who can't I'm ba low income people, middle class oyer,
• 55:03
  Speaker 4: what do they look like? Black people?
• 55:05
  Speaker 2: Okay, So here's the thing. When we talk about the
• 55:07
  Speaker 2: largest holders of student loan debt, they're African American women
• 55:11
  Speaker 2: thirty through fifty five.
• 55:14
  Speaker 4: Percentage wise are numbers wise?
• 55:16
  Speaker 2: Well percentage of the barbers in total? Who owns the
• 55:20
  Speaker 2: most in the lone debt, who has the most degrees
• 55:22
  Speaker 2: is that group of people. So it's interesting. You remember
• 55:25
  Speaker 2: when they were talking about the number of forgiveness they
• 55:27
  Speaker 2: were going to give out either ten or twenty thousand.
• 55:29
  Speaker 2: Did you ever wonder why they ended at their number?
• 55:32
  Speaker 2: So statistically, if they gave out twenty thousand, that cleared
• 55:35
  Speaker 2: the population of white barer, white male barbers.
• 55:39
  Speaker 5: Yeah, completely the race. Yeah, because the amount.
• 55:41
  Speaker 2: That they owe was around under twenty thousand.
• 55:43
  Speaker 5: It was under twenty thousand, So I think the average
• 55:45
  Speaker 5: I remember reading is the average was like sixteen point
• 55:48
  Speaker 5: five thousand dollars that they owed. Yeah, that they had
• 55:51
  Speaker 5: at twenty deta clear the entire.
• 55:52
  Speaker 2: Let's just keep going. I've got time. So now when
• 55:54
  Speaker 2: you clear out all of these women, black women with
• 55:57
  Speaker 2: student loan debt. And I know that other people have
• 56:00
  Speaker 2: student loans that are black obviously, but statistically, now we
• 56:05
  Speaker 2: put this population, we know that most agreed. Now they
• 56:11
  Speaker 2: can become homeowners. You say, now it changes the whole
• 56:15
  Speaker 2: landscape of Welcome to America. So when you ask me,
• 56:19
  Speaker 2: do I think they're going to eliminate?
• 56:22
  Speaker 5: No?
• 56:23
  Speaker 4: Why so you think that? Okay, so it's a trap
• 56:27
  Speaker 4: pretty much.
• 56:29
  Speaker 2: I'm not saying it's a trap. What I'm saying is
• 56:30
  Speaker 2: this is where our community when we talk about the
• 56:33
  Speaker 2: black community, and I hate to just always take it
• 56:34
  Speaker 2: to race, but statistically it's just very glaring. Has to
• 56:38
  Speaker 2: be wiser and be informative about borrowing practices. Now, the
• 56:43
  Speaker 2: challenge here is is that a lot of times when
• 56:45
  Speaker 2: we look at this number, that person's also the first
• 56:47
  Speaker 2: to graduate in their family from college. So we don't
• 56:49
  Speaker 2: want to take the pride away from those numbers, and
• 56:52
  Speaker 2: the first to have a graduate degree, the first to
• 56:55
  Speaker 2: have a doctoral degree, So we don't want to take
• 56:56
  Speaker 2: any of that pride away. But what I'm saying is,
• 57:00
  Speaker 2: youll mom, grandmom, even they said your grandmom. At this point,
• 57:05
  Speaker 2: how do we help your child and your grandchild not
• 57:08
  Speaker 2: being that same number in same boat. One of the
• 57:10
  Speaker 2: things that we're concerned about is if we see our
• 57:12
  Speaker 2: clients get out of student loan debt at like let's
• 57:14
  Speaker 2: say age forty forty five, we see that person going
• 57:17
  Speaker 2: back to the student loan deb at age fifty to
• 57:18
  Speaker 2: fifty five because of parent plus loans, because there's not
• 57:22
  Speaker 2: a plan for their child or grandchild.
• 57:24
  Speaker 5: Yeah, so the plan is really, yes, if you want
• 57:27
  Speaker 5: to achieve the same goal, all for it, how do
• 57:30
  Speaker 5: we do it more effectively? How we do it more efficiently?
• 57:33
  Speaker 2: So I really love your platform, right because if somebody
• 57:36
  Speaker 2: is a black woman that's thirty five, and she's really
• 57:38
  Speaker 2: tuning the stuff you guys are saying, and she's following
• 57:41
  Speaker 2: some of your strategies. She's thinking about real estate, I
• 57:45
  Speaker 2: hate what I you know, use my friend over there,
• 57:47
  Speaker 2: but she has, like we had, like ten properties. She's
• 57:50
  Speaker 2: a she's a homeowner, she's a landlord. She's so she's
• 57:54
  Speaker 2: changing the narrative for her daughter. So you know, her
• 57:57
  Speaker 2: daughter shouldn't even have to know what a student loan
• 57:59
  Speaker 2: is if we do this right, because there should be
• 58:02
  Speaker 2: enough cash low income from her properties, or maybe when
• 58:05
  Speaker 2: her daughter goes to school, it's time to sell one
• 58:08
  Speaker 2: that is college tuition. So when we start changing the
• 58:10
  Speaker 2: narrative of how we think about our finances and our
• 58:13
  Speaker 2: wealth now, then we can set our children and grandchildren
• 58:16
  Speaker 2: up differently. So we don't want to make anybody feel
• 58:19
  Speaker 2: bad about what they did or didn't borrow. But what
• 58:22
  Speaker 2: I'm saying is is the conversation has to change so
• 58:26
  Speaker 2: that we don't see this cycle keep being repeated because
• 58:29
  Speaker 2: I don't think there's going to be a wave of
• 58:32
  Speaker 2: forgiveness to help out a significantly group of populations.
• 58:37
  Speaker 5: Such can I go back for just like a second,
• 58:39
  Speaker 5: because you said something and I understood from the standpoint
• 58:41
  Speaker 5: of having loan forgiveness and that coming off of you know,
• 58:45
  Speaker 5: your debt to income ratio in a sense, and your
• 58:47
  Speaker 5: credit score plumbing right, So most people won't even understand that.
• 58:50
  Speaker 5: They'll think, well, it got clear, credit score, short approved, yep,
• 58:54
  Speaker 5: But it really doesn't.
• 58:55
  Speaker 3: CA.
• 58:55
  Speaker 5: Can you just explain why.
• 58:56
  Speaker 2: There's no more debt to factor? Like, not to be funny,
• 58:59
  Speaker 2: you've had that debt probably for over ten years years,
• 59:02
  Speaker 2: so it's used to your debt, so now you take
• 59:05
  Speaker 2: it off the board, it's like, oh, how do we
• 59:07
  Speaker 2: factor that into your mix, into your score? So now
• 59:10
  Speaker 2: when you just take it off the board, and what's
• 59:13
  Speaker 2: going to be a shocker to people the next sixty
• 59:14
  Speaker 2: days is it's not gradually paying itself down. It's off.
• 59:19
  Speaker 2: So when you held the seven forty, that seven forty
• 59:23
  Speaker 2: might look like a six forty. All jokes aside, because
• 59:26
  Speaker 2: that was a heavy part of your mix. That's going
• 59:29
  Speaker 2: to be going now. Then somebody asks me the other day, well,
• 59:32
  Speaker 2: how do I keep that score up? You want the
• 59:34
  Speaker 2: real answer. You need a mortgage. You need another debt
• 59:37
  Speaker 2: similar to replace it of the same amount. I would
• 59:40
  Speaker 2: hope if you would do that, it would be a
• 59:41
  Speaker 2: mortgage and not another student loan.
• 59:42
  Speaker 5: Yeah, you got to balance that out. Yeah. Also, the
• 59:44
  Speaker 5: other part is from a tax standpoint. Sometimes when loans
• 59:47
  Speaker 5: are forgiven, does that go into your taxable income?
• 59:51
  Speaker 2: I seen you bring that up. So it is tax
• 59:54
  Speaker 2: federally federally tax free until twenty twenty five. This is
• 1:00:00
  Speaker 2: not a for everything. Oh oh yeah, do explain so
• 1:00:04
  Speaker 2: after twenty and twenty five. That's why it matters who
• 1:00:07
  Speaker 2: gets selected too. That might be texts. These These are
• 1:00:12
  Speaker 2: what we call provisions. These are not laws. So provision
• 1:00:15
  Speaker 2: is in place until twenty and twenty five to say
• 1:00:18
  Speaker 2: you will be tax free. Let's say Biden gets reelected
• 1:00:22
  Speaker 2: prosted loan. He might extend it to two thousand and
• 1:00:24
  Speaker 2: thirty right or whatever his termins, but that's the provision.
• 1:00:30
  Speaker 2: That's that's like president the president. So you got to
• 1:00:32
  Speaker 2: understand the tax laws during that president's era. Certain states say,
• 1:00:37
  Speaker 2: I don't care what the federal government's doing. If you
• 1:00:39
  Speaker 2: get forgiven for two hundred k, we're texting at his income.
• 1:00:44
  Speaker 2: So what I would do? So I would probably move.
• 1:00:47
  Speaker 2: There's about thirteen states I think it is, and I
• 1:00:49
  Speaker 2: don't know them off hand. Just google it and you
• 1:00:52
  Speaker 2: live in one of them, and you know you got
• 1:00:54
  Speaker 2: that letter. I got to move, Like I don't even know.
• 1:00:57
  Speaker 2: Like I'm being funny and serious at the same time,
• 1:00:59
  Speaker 2: you're going to get text for that two hundred thousand
• 1:01:01
  Speaker 2: in this example, good to know, Good to know. Yeah,
• 1:01:05
  Speaker 2: And actually I had a client that was a true story.
• 1:01:07
  Speaker 2: Like I had a client say she was like, so
• 1:01:09
  Speaker 2: I'm excited. She was like, but one hundred thousand texts?
• 1:01:12
  Speaker 2: She was like in my state, she was like, I
• 1:01:14
  Speaker 2: don't know She's like, I think I need to move
• 1:01:16
  Speaker 2: back in with my parents. They live and so and so,
• 1:01:18
  Speaker 2: and I'm like, well can you move? Like can we
• 1:01:20
  Speaker 2: put that change of address in? Like can we file
• 1:01:23
  Speaker 2: taxes at a new address? Because yes, she's gonna get
• 1:01:26
  Speaker 2: text m all right, Well it sounds so heavy today.
• 1:01:31
  Speaker 4: Then that's a lot.
• 1:01:32
  Speaker 5: It's a lot. My last thing before we go, you
• 1:01:35
  Speaker 5: just talking about scholarships, and I know kids and parents
• 1:01:38
  Speaker 5: this is so, is there a place that kids can go?
• 1:01:41
  Speaker 5: I remember when you used to go to your guns council,
• 1:01:43
  Speaker 5: they had this book of all these scholarships. If you
• 1:01:45
  Speaker 5: were left handed, there's a scholarship. Is there one place
• 1:01:48
  Speaker 5: or a concrete place that they can go for scholarships
• 1:01:50
  Speaker 5: and grants? Because you know grants don't have to be
• 1:01:52
  Speaker 5: repeated as well.
• 1:01:53
  Speaker 2: So I mean then there are many places you can go.
• 1:01:56
  Speaker 2: It's just hard to shout out places that I think
• 1:01:59
  Speaker 2: are still rep Like the Scholarly app is one of
• 1:02:02
  Speaker 2: my favorites if it's still around. I know, like college
• 1:02:06
  Speaker 2: Girl JP, I think it's her name. She's awesome. Let
• 1:02:11
  Speaker 2: me see HBCU Money Guide on Instagram. She is amazing
• 1:02:14
  Speaker 2: with her work. I tend to post different scholarship strategists
• 1:02:19
  Speaker 2: on my page here throughout because I know that they
• 1:02:21
  Speaker 2: go hand in hand. We don't get into it because
• 1:02:24
  Speaker 2: it's just we don't have the capacity. What I will
• 1:02:27
  Speaker 2: say is, you know, you want to identify your child.
• 1:02:32
  Speaker 2: If you're a parent watching this, you want to identify
• 1:02:35
  Speaker 2: your child's strengths early on. And that's the scholarship money.
• 1:02:39
  Speaker 2: We're going to start caring ourselves too, like you're going
• 1:02:41
  Speaker 2: to know pretty soon is your child sports or academics,
• 1:02:44
  Speaker 2: is your child techie or not? Because there's so much
• 1:02:47
  Speaker 2: money out there, and there is really a lot of
• 1:02:49
  Speaker 2: money there. But here's and I do have to say
• 1:02:52
  Speaker 2: this because I used to sit on scholarship committees. Everybody
• 1:02:55
  Speaker 2: thinks they're not eligible. Women, young ladies particularly, they always
• 1:03:00
  Speaker 2: think they're not eligible. I never forget. I had a
• 1:03:03
  Speaker 2: young lady that was trying to go for nursing. The
• 1:03:05
  Speaker 2: requirement was a three point h and some other things.
• 1:03:09
  Speaker 2: She had a way above all the other requirements. She
• 1:03:12
  Speaker 2: was super active. She had a two point nine. So
• 1:03:15
  Speaker 2: I'm looking at her application, but she didn't do one
• 1:03:18
  Speaker 2: last thing to apply. So I called her personally. I'm like, hey,
• 1:03:21
  Speaker 2: he was Jasmine. I'm like, I need you to put
• 1:03:24
  Speaker 2: this in by midnight. She's like, no, it stead a
• 1:03:26
  Speaker 2: three point oh. So there's a psychology here that women,
• 1:03:29
  Speaker 2: even with jobs, they look at one requirement, go not eligible.
• 1:03:34
  Speaker 2: Men go, I'm about to try anyway. So we would
• 1:03:37
  Speaker 2: see young men at our committee get scholarships over young women,
• 1:03:41
  Speaker 2: and I realized the psychology is a lot of young
• 1:03:44
  Speaker 2: women would think because they missed one thing. So she
• 1:03:46
  Speaker 2: thinks me to this day she got the money it
• 1:03:48
  Speaker 2: was like ten thousand because she just applied anyway. Because
• 1:03:52
  Speaker 2: now here's what happens with a lot of people don't
• 1:03:54
  Speaker 2: know behind the scenes when there are private donors that
• 1:03:56
  Speaker 2: are giving like the three and the five thousands, however,
• 1:03:59
  Speaker 2: they are asking the committee's opinion. So if I'm looking
• 1:04:03
  Speaker 2: at Bobby, who has a three point two, but Bobby
• 1:04:06
  Speaker 2: joined no activities in school, But I'm looking at Jasmine,
• 1:04:09
  Speaker 2: who's a two point nine, but she was class president,
• 1:04:12
  Speaker 2: she was this, she was this, she was this, I
• 1:04:13
  Speaker 2: don't know. I'm probably gonna go with Jasmine because she
• 1:04:17
  Speaker 2: still had good grades and she managed all of this stuff.
• 1:04:20
  Speaker 2: And then Bobby just was in school. So then I
• 1:04:23
  Speaker 2: have to tell the person who's given the money. My
• 1:04:26
  Speaker 2: professional opinion would be, let's go with Jasmine, because we
• 1:04:29
  Speaker 2: know when she gets to school and becomes an active
• 1:04:31
  Speaker 2: member of her community at school, she's going to do
• 1:04:33
  Speaker 2: good and still add to the value of their community. Oh,
• 1:04:37
  Speaker 2: that's a good perspective. Let's give it to Jasmine.
• 1:04:39
  Speaker 5: Shout out to Jasmine. Yep, don't forget to come pick
• 1:04:41
  Speaker 5: up your pieces.
• 1:04:42
  Speaker 2: Yes, So that's a good example. And that's how scholarship
• 1:04:46
  Speaker 2: the minds of a scholarship committee works. When you submit
• 1:04:48
  Speaker 2: things like that, especially when they're small and formal, they
• 1:04:51
  Speaker 2: want to look to see who's really doing the work
• 1:04:54
  Speaker 2: because it's all about Oh, in schools, this is a
• 1:04:56
  Speaker 2: good one for schools. Schools want to give money to
• 1:04:59
  Speaker 2: people that have shown proven history in high school of
• 1:05:03
  Speaker 2: being active in value members, Like they want to put
• 1:05:06
  Speaker 2: you on the billboard. So when I went to Bloomsburg
• 1:05:09
  Speaker 2: and got all of that money, it's because I was
• 1:05:11
  Speaker 2: a part of everything in high school. So nine times
• 1:05:14
  Speaker 2: out of ten, I'm going to do what be a
• 1:05:15
  Speaker 2: part of everything here in college. You can put me
• 1:05:19
  Speaker 2: as an ambassador. You might want to put me up there,
• 1:05:21
  Speaker 2: like you know, this is how schools think about when
• 1:05:24
  Speaker 2: they give institutional money, if that makes sense. So my
• 1:05:29
  Speaker 2: advice is if you're a high schooler watching this, or
• 1:05:32
  Speaker 2: you have a high schooler and you look at your
• 1:05:34
  Speaker 2: child and your child isn't doing anything just going to school,
• 1:05:38
  Speaker 2: that's not enough. What church committee can they join? What
• 1:05:41
  Speaker 2: nonprofit can they assist? What do their weekends look like?
• 1:05:45
  Speaker 2: Are they a leader any capacity? And this is where
• 1:05:48
  Speaker 2: I say it has to be hands on parenting nine
• 1:05:50
  Speaker 2: through twelve because you have to make your child go
• 1:05:52
  Speaker 2: and do something. And I know that we're just like, well,
• 1:05:55
  Speaker 2: he's a good kid, he's just being a house on
• 1:05:56
  Speaker 2: his phone. Well that's not going to cut it in
• 1:05:58
  Speaker 2: this time when we're trying to give our money.
• 1:06:01
  Speaker 4: There you haven't, Well, another great episode, a lot of information.
• 1:06:05
  Speaker 4: How can people follow?
• 1:06:06
  Speaker 2: You definitely spend out of that three hundred k. But
• 1:06:08
  Speaker 2: we're just I gotta learn that tactics. So let's talk
• 1:06:12
  Speaker 2: about the same play.
• 1:06:16
  Speaker 5: You a lot now three hundred a lot.
• 1:06:19
  Speaker 2: You guys got to do a whole episode on it,
• 1:06:22
  Speaker 2: like a survey question. You can follow me what you say?
• 1:06:26
  Speaker 5: It is real, Like you know, I'm married, so like
• 1:06:28
  Speaker 5: I had that was later on in relationship. It was
• 1:06:31
  Speaker 5: like what what? How much? How much that?
• 1:06:32
  Speaker 2: So did you guys talk about it after marriage.
• 1:06:36
  Speaker 5: Before before before? Yeah, because I mean most people talk
• 1:06:39
  Speaker 5: about as I had student on that, right, so I
• 1:06:41
  Speaker 5: need to I know what mine is that I'm like,
• 1:06:43
  Speaker 5: you know what you got, so where you are? So
• 1:06:45
  Speaker 5: like you know, so we know, and what's going to
• 1:06:47
  Speaker 5: be the plan how we're going to bring down this that?
• 1:06:50
  Speaker 2: Yeah, so well most people don't talk about it till
• 1:06:53
  Speaker 2: after surprisingly enough, and then now it don't look so
• 1:06:58
  Speaker 2: fun to situation. And I do think that people that
• 1:07:01
  Speaker 2: have three hundred thousand should be able to be married.
• 1:07:04
  Speaker 2: That's not what I'm saying because I don't feel like
• 1:07:06
  Speaker 2: those trolls. What I'm saying is it's gotta be a
• 1:07:09
  Speaker 2: plan because if this woman, oh three hundred, I would
• 1:07:15
  Speaker 2: hope her income would be to the on part to
• 1:07:19
  Speaker 2: support that. Maybe she's already a doctor in that case, right,
• 1:07:22
  Speaker 2: so we know that there's something ambitious about this person.
• 1:07:25
  Speaker 2: Maybe she can hold this job. But if you meet
• 1:07:28
  Speaker 2: this person that owes six figures and they don't have
• 1:07:31
  Speaker 2: ambition and they don't yeah, that's a different conversation. So
• 1:07:34
  Speaker 2: I'm gonna let you ride though you can follow me
• 1:07:39
  Speaker 2: on Instagram the student Loon Doctor. We have a YouTube
• 1:07:41
  Speaker 2: channel that's out. Just type in the studolone doctor. If
• 1:07:45
  Speaker 2: anybody pops up otherland, you know a little black girl
• 1:07:47
  Speaker 2: that's probably not made. They do duplicate. You do know,
• 1:07:51
  Speaker 2: and I appreciate you.
• 1:07:53
  Speaker 4: You have it. Thank you guys to rocking on us.
• 1:07:55
  Speaker 4: We see you next week.
• 1:07:56
  Speaker 1: Pace an illegal alien from Guatemala charge with raping a
• 1:08:01
  Speaker 1: child in Massachusetts. An MS thirteen gang member from Al
• 1:08:04
  Speaker 1: Salvador accused of murdering a Texas man of Venezuelan charged
• 1:08:09
  Speaker 1: with filming and selling child pornography in Michigan. These are
• 1:08:13
  Speaker 1: just some of the heinous migrant criminals caught because of
• 1:08:17
  Speaker 1: President Donald J.
• 1:08:18
  Speaker 2: Trump's leadership.
• 1:08:19
  Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.
• 1:08:23
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 1:08:27
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
• 1:08:30
  Speaker 1: aliens have been arrested. If you are here illegally, your
• 1:08:34
  Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,
• 1:08:39
  Speaker 1: and deported.
• 1:08:40
  Speaker 2: You will never return.
• 1:08:41
  Speaker 1: But if you register using our CBP home app and
• 1:08:45
  Speaker 1: leave now, you could be allowed to return legally, do
• 1:08:48
  Speaker 1: what's right.
• 1:08:49
  Speaker 2: Leave now.
• 1:08:50
  Speaker 1: Under President Trump, America's laws, border and families.
• 1:08:54
  Speaker 2: Will be protected.
• 1:08:55
  Speaker 3: Sponsored by the United States Department of Homeland Security,