Latest / Earn Your Leisure / EYL #117 Clean Slate feat. The Student Loan Doctor

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EYL #117 Clean Slate feat. The Student Loan Doctor · Earn Your Leisure

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  Speaker 4: All right, guys, welcome back, e y Eli. This is
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  Speaker 4: Off student loans, student loans is a huge, huge, huge thing.
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  Speaker 4: I believe it is, correct me if I'm wrong. One
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  Speaker 4: point nine billion dollars student loan debt total in America.
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  Speaker 4: So millions of people are crippled by student loans. Millions
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  Speaker 4: of parents have to make decisions whether they you know,
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  Speaker 4: sending their kids to high course college and have to
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  Speaker 4: you know, put that type of burden on them. Millions
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  Speaker 4: of young Americans, young people have to decide early on.
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  Speaker 4: They have to make, you know, crucial decisions that might
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  Speaker 4: affect their life for the rest of it, the rest
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  Speaker 4: of their life as far as you know, going to
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  Speaker 4: what college they're going to go to, how much student
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  Speaker 4: loan they're going to take out, and then when they graduate,
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  Speaker 4: it's a whole bunch of stuff as far as you know,
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  Speaker 4: paying it back and how they pay it back, and
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  Speaker 4: how it affects their credit score, and how does it
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  Speaker 4: affect trying to buy home. So we haven't talked about
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  Speaker 4: student loans too much. A few episodes. We kind of
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  Speaker 4: just told stories about student loans.
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  Speaker 2: I think early on I gave my student loans earlier episodes.
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  Speaker 4: Sure, but we haven't actually like broke it down student
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  Speaker 4: loans in like details so we brung in the best
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  Speaker 4: in the business to do that.
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  Speaker 2: The best.
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  Speaker 4: Sonya lewis also known as a Student Loan Doctors, So
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  Speaker 4: she's the CEO and the first African American woman owns
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  Speaker 4: student loan repairment repayment company in the United States of America.
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  Speaker 4: She's been featured on Forbes Money Magazine, Essence, Black Enterprise,
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  Speaker 4: and now in the Bio. And it's crazy because she
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  Speaker 4: actually also taught a class for Ey University that was incredible.
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  Speaker 4: I listened to that while I was preparing for this
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  Speaker 4: and we actually met years ago, so you never know
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  Speaker 4: how life is going to, you know, come back three sixty.
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  Speaker 4: You know, me as a financial advisor, I used to
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  Speaker 4: do speaking engagements every once in a while, you know,
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  Speaker 4: and kind of talk about investing and insurance and stuff
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  Speaker 4: like that. And a group had actually asked me to
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  Speaker 4: come in to speak in New York and the city
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  Speaker 4: and one of the other speakers was none other than
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  Speaker 4: Sonya And that's the first time and she literally she
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  Speaker 4: rocked it. She rocked it, and she she broke down
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  Speaker 4: student loans, she broke down repayment options, she broke down everything.
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  Speaker 4: And that's the first time that we had connected and
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  Speaker 4: that was years ago.
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  Speaker 3: Probably you remember that it was my first big I
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  Speaker 3: don't even know if it was big, but gig outside
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  Speaker 3: of Philly.
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  Speaker 5: I took it so serious. I got some T shirts.
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  Speaker 4: Joy Yeah, you had, you had your I had some more.
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  Speaker 4: Some workers with you too, volunteers.
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  Speaker 2: We thank them, we thank I.
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  Speaker 4: Remember not excellent. So now you know she's blown up
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  Speaker 4: on social media and she's become the authority on Stuart
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  Speaker 4: Loans and you know, we have a little known podcast
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  Speaker 4: that little people will listen to every how it's good
• 5:22
  Speaker 4: to you know, it's good to it's good I appreciate that.
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  Speaker 4: So it's good to link back up. So first and foremost,
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  Speaker 4: thank you for joining us. Appreciate it.
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  Speaker 5: Yeah, I'm excited to be here. I really really am.
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  Speaker 5: I really am so one. Thank you for both for
• 5:37
  Speaker 5: having me. I've been listening to the podcast, and when
• 5:41
  Speaker 5: I first listened to it, I'm listening to his voice,
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  Speaker 5: like I know that nothing have a trigger to go
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  Speaker 5: look up the voice and I you just moved so quickly.
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  Speaker 5: So then I think it was Instagram and I've seen
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  Speaker 5: his face. I'm like, I know that face. It's iked
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  Speaker 5: my girlfriend, Like have you ever listened to E Y
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  Speaker 5: L Denise and she's such a fit and she's actually
• 6:01
  Speaker 5: really mad that she's not here with me today. How
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  Speaker 5: I got sick?
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  Speaker 2: I was.
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  Speaker 5: So but yeah, so I was like, oh no, I said,
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  Speaker 5: do you remember the engagement I had way way before?
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  Speaker 5: And she said, oh yeah. I said, well he's that's samn.
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  Speaker 5: She's like, oh wow. So I just think that it's
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  Speaker 5: really important that when you meet people, want to be
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  Speaker 5: nice to them and be kind to them. I was
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  Speaker 5: really really blown away and impressed with the child from
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  Speaker 5: the very very beginning when he spoke and I was like, well,
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  Speaker 5: wait a minute. After I drove for Philly, I knew
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  Speaker 5: I know for a fact, I was tired because it
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  Speaker 5: was nighttime NIME. I was like, I don't know, if
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  Speaker 5: you know, if I had like a lot of energy
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  Speaker 5: that night, but I was on like three, what's gonna do?
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  Speaker 5: Give it? And I totally like when I got home,
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  Speaker 5: I was like, you know, totally out of it, but
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  Speaker 5: I'm excited to be here none the less.
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  Speaker 4: Sure, so let's jump into it. So how did this start?
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  Speaker 4: How did you become the student loan doctor? How did
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  Speaker 4: that have?
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  Speaker 5: Yeah? I was broke, yes, Sorry, anybody starts up than that, know.
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  Speaker 5: So what happened was I was in a financial literacy
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  Speaker 5: course at church and it was really after either of
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  Speaker 5: my grandmother passing, and you ever realized, like, if that person,
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  Speaker 5: whoever is your person in your life goes, you don't
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  Speaker 5: have no person anymore, and who could you call it
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  Speaker 5: asks for help support? So that was my grandmother. So
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  Speaker 5: I'm like, oh this, I could really be one check away.
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  Speaker 5: You know. I was living real dangerous overdrafted on overdraft.
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  Speaker 5: It was. It was not good. And the thing is
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  Speaker 5: I wasn't It wasn't like I wasn't making money. I
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  Speaker 5: think at that time I was early twenties, making like
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  Speaker 5: sixty a year and that's good with no responsibilities living
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  Speaker 5: in Philly, you know, it's fine. But I was just
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  Speaker 5: really really behind check to check at that point because
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  Speaker 5: I was trying to keep up with people. And so
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  Speaker 5: I put myself to this class and the one topic
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  Speaker 5: the teacher kept going around was student loan deck. Now
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  Speaker 5: that is my profect. Actually no background, so I've worked
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  Speaker 5: in the university. I guess at this point where were
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  Speaker 5: at twy so like going over twelve years at this
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  Speaker 5: point I connected with the university, and so I knew
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  Speaker 5: what to do, like I knew how to help people.
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  Speaker 5: I knew how to advise people. It's just that I
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  Speaker 5: felt like everybody else knew that too. I don't know
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  Speaker 5: if that makes sense. I felt like student loans, like, oh,
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  Speaker 5: all you got to do is but when you come
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  Speaker 5: to find out is a lot of people don't know
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  Speaker 5: about their student loans, don't want to know about their
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  Speaker 5: student loans, or they're really upset that they have student loans.
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  Speaker 5: And so I just started giving out some free knowledge
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  Speaker 5: at church. But what had happened was after the church class,
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  Speaker 5: people start coming into the church. Because the church is
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  Speaker 5: right there by Temple University, they start coming in. Yeah,
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  Speaker 5: North Philly. They start coming in, So, so can we
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  Speaker 5: speak to the young lady about loans. I'm like, no,
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  Speaker 5: wait a minute, that's me, but I gotta go home now.
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  Speaker 5: So I was helping people after church. I'm going to
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  Speaker 5: say for a few hours, right, and then I'm like,
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  Speaker 5: Jesus say say to do this for free? Now that
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  Speaker 5: word I still haven't heard heard their word. So I
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  Speaker 5: was like, well, you know what, because I can't charge
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  Speaker 5: in the Lord's house, So I said, well, less met
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  Speaker 5: at the Cozy in the corner Baker. I had two
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  Speaker 5: locations in Philly because you know people don't like travel.
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  Speaker 2: Cozy, that's a good meaning spot. What's the cozy is
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  Speaker 2: like it's like an eatery, like it has like benches.
• 9:18
  Speaker 2: It's like an upscale I guess Starbucks, which is no coffee,
• 9:23
  Speaker 2: which is fool. Yeah, yeah, yeah. I had my marriage
• 9:26
  Speaker 2: cause I had marriage counseling in everybody used its good place.
• 9:31
  Speaker 5: And bother you now Corner Bakery. I did have to
• 9:34
  Speaker 5: flirt with the manager. Never cashed it on that date.
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  Speaker 5: I needed the corner booth with the plug. Okay, it's
• 9:42
  Speaker 5: just lot of strategic plenty. You got do You got
• 9:44
  Speaker 5: to get there by six and I left. I think
• 9:46
  Speaker 5: they closed at ten, and then the weekends I would
• 9:49
  Speaker 5: be there from nine to nine.
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  Speaker 2: Yeah, and I think at.
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  Speaker 5: That time I was charging like what thirty forty an hour.
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  Speaker 5: I didn't know about business. I just knew I was
• 9:57
  Speaker 5: going to sit here for free. And it wasn't a
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  Speaker 5: real business chip. But literally, y'all, when I tell you,
• 10:02
  Speaker 5: nobody missed their appointment, like that's kind of unheard of,
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  Speaker 5: Like no one missed their appointment for weeks and so
• 10:08
  Speaker 5: what I did ultimately was was, you know, I got
• 10:10
  Speaker 5: a scheduler. I started looking at office spaces. I'm like, well,
• 10:13
  Speaker 5: if I get this many clients and I go up
• 10:15
  Speaker 5: to this price. So then that's when all that entrepreneurship
• 10:17
  Speaker 5: start started to like kick in. I got to read
• 10:20
  Speaker 5: this book, you know, so I had to learn a lot,
• 10:22
  Speaker 5: just because I didn't want to lose momentum on what
• 10:25
  Speaker 5: was happening. And I didn't really, like I said, I
• 10:27
  Speaker 5: want to sit there all day, but then you know,
• 10:30
  Speaker 5: we can go from the story from there. But that
• 10:31
  Speaker 5: was really the catalyst. I just wanted to help people.
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  Speaker 5: I knew I wasn't going to do it too much
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  Speaker 5: longer for free, but I think even when I was
• 10:39
  Speaker 5: doing forty an hour, it really paste out more than
• 10:42
  Speaker 5: what I was making at work. And now I'm looking
• 10:44
  Speaker 5: at my work calendar like I'm not going to be
• 10:47
  Speaker 5: able to be here much longer, Like I need to
• 10:50
  Speaker 5: take off this day because if I could get these
• 10:52
  Speaker 5: appointments in and the match just wasn't adding up.
• 10:56
  Speaker 2: So did the knowledge and the subject area come from
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  Speaker 2: your experiences of dealing with so long?
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  Speaker 5: Okay, I was helping adults in college college's college. Okay,
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  Speaker 5: I was helping them in college understand their financial a package.
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  Speaker 5: We had to literally because their adults coach them in it,
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  Speaker 5: like two to four years. This is what your payment
• 11:16
  Speaker 5: could look like. You know, are you okay with coming
• 11:18
  Speaker 5: to school paying this because you know this payment is coming.
• 11:20
  Speaker 5: So I was able to already teach that because that's
• 11:22
  Speaker 5: what I didn't do every day for work. Yeah, okay,
• 11:24
  Speaker 5: And I didn't know that.
• 11:25
  Speaker 2: That was a yeah. I just remember being on campus
• 11:27
  Speaker 2: and like had no idea what financial aid was and
• 11:30
  Speaker 2: signing all these papers that were a lot of money.
• 11:33
  Speaker 2: I had no idea what interest was. I didn't know
• 11:35
  Speaker 2: what a co signer was. I just know like, yo,
• 11:37
  Speaker 2: this is that's what we got to do to make
• 11:39
  Speaker 2: it happen at school.
• 11:40
  Speaker 5: So because we worked with adult learners, we had a
• 11:42
  Speaker 5: responsibility I feel like, well we felt like at their
• 11:45
  Speaker 5: school to teach and tell people because you know, think
• 11:47
  Speaker 5: about it, when you're eighteen, you got a little while off.
• 11:50
  Speaker 5: You might be a mom for a bit dad, but
• 11:52
  Speaker 5: when you're an adult were already with bills. We kind
• 11:56
  Speaker 5: of felt like we had a responsibility to tell people
• 11:57
  Speaker 5: up front.
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  Speaker 2: That's a good population too. And I mean I've been
• 12:00
  Speaker 2: in classes with the older students and it's like there
• 12:04
  Speaker 2: were more focused because they knew that their time was
• 12:07
  Speaker 2: limited as we were just sitting there like I can't
• 12:10
  Speaker 2: wait for this be overs as a party leader.
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  Speaker 5: No, the ones with the highlighters with three you know
• 12:14
  Speaker 5: exactly exactly like I'm gonna bea that student one day.
• 12:16
  Speaker 4: Like all of the tricks and stuff, like everything you learned,
• 12:18
  Speaker 4: you just you already knew that from your job or
• 12:21
  Speaker 4: you just really just googled everything and just studied your
• 12:23
  Speaker 4: life away.
• 12:24
  Speaker 5: Well, so the job taught me a lot. But once
• 12:26
  Speaker 5: I decided this is going to be my real dis
• 12:28
  Speaker 5: like when I decided to lead my job, I started
• 12:31
  Speaker 5: going to different conferences that was given by the Department
• 12:34
  Speaker 5: of Education. Some conferences call some conferences were free. But
• 12:38
  Speaker 5: like I would say, twenty fifteen through seventeen, I was
• 12:41
  Speaker 5: at like every conference the Department Education or affiliated therewof
• 12:46
  Speaker 5: the colleges therewove would have, I would be right there.
• 12:48
  Speaker 5: And the very beginning I couldn't afford those conferences, so
• 12:51
  Speaker 5: I would be on the volunteer committee and I would
• 12:53
  Speaker 5: be on the welcome booth. I had a strategy I
• 12:55
  Speaker 5: would be on a welcome booth for four hours and
• 12:57
  Speaker 5: do could you're the rest of the conference for free?
• 13:00
  Speaker 5: Had to get there, I mean, and then I was like, well,
• 13:02
  Speaker 5: what girlfriend? Do I know? In DC? I mean, it
• 13:04
  Speaker 5: was real, like you know, but I just really had
• 13:06
  Speaker 5: a clear envision. I was never confused about what I
• 13:09
  Speaker 5: wanted this to be. I just needed to not give
• 13:12
  Speaker 5: up with myself.
• 13:12
  Speaker 2: If that makes sense, Perfect sense.
• 13:14
  Speaker 4: All right, So now you got the backstory, and we'll
• 13:18
  Speaker 4: talk more about the branding and all that how you
• 13:20
  Speaker 4: turned into a business. But let's let's dive into it
• 13:24
  Speaker 4: as far as the meat and potato. So I got questions,
• 13:26
  Speaker 4: I'm sure got questions. But the first question I want
• 13:28
  Speaker 4: to ask is shout out to MG, the mortgage guy.
• 13:30
  Speaker 4: I'm not sure if you saw the posted he did,
• 13:33
  Speaker 4: but that was something I got a lot of traction
• 13:35
  Speaker 4: on our on our page, and we posted and he
• 13:36
  Speaker 4: said something to the to the effect that if you
• 13:39
  Speaker 4: have to do a loan debt, not to do an
• 13:41
  Speaker 4: FAHA loan or a conventional loan trying to buy a
• 13:44
  Speaker 4: home first time home buyers, but to do an iv R,
• 13:47
  Speaker 4: which I think it stands for income based repayment, So
• 13:52
  Speaker 4: it got a lot of traction and people was asking like,
• 13:54
  Speaker 4: what is the iburo? What does this mean? Can you
• 13:56
  Speaker 4: decode this? So can you decode that a little bit?
• 13:59
  Speaker 5: Yeah, so that really should be IDR. So IDR is
• 14:03
  Speaker 5: basically the collection of different plans that are based on
• 14:06
  Speaker 5: your repayment. So IBr is one repay pay in ICR.
• 14:11
  Speaker 5: When Biden comes into office, the question is will Biden
• 14:15
  Speaker 5: at a fifth plan or replace those plans with one plan?
• 14:18
  Speaker 5: So that's what we're about to see. So right now,
• 14:21
  Speaker 5: and this is really cool, and this is the best
• 14:23
  Speaker 5: time that anybody with a lot of student loan that
• 14:26
  Speaker 5: should be buying a house before laws change. When Republicans
• 14:30
  Speaker 5: are in office, there are so many caveats and little
• 14:32
  Speaker 5: programs and tricks that still get people to buy right.
• 14:35
  Speaker 5: But when Democrats get in office, programs get closed down,
• 14:39
  Speaker 5: shut down, they get very very conservative. So I'm a
• 14:42
  Speaker 5: little nervous, just to be quite honest, with Biden taking
• 14:44
  Speaker 5: office that the which you just announced is going to
• 14:47
  Speaker 5: go away. So if that is the case, if you're
• 14:50
  Speaker 5: watching this in real time, you might want to get
• 14:52
  Speaker 5: your stuff together so you can get a home. So basically,
• 14:55
  Speaker 5: if you have your loans on an income driven repayment plan.
• 15:00
  Speaker 5: So right now, it's messing everybody up because we're in
• 15:02
  Speaker 5: the Cares Act until January thirty.
• 15:04
  Speaker 2: First, yes, yes, but it is.
• 15:07
  Speaker 5: Messing some people up to buy a home because they
• 15:09
  Speaker 5: would literally have to come out of that plan and
• 15:11
  Speaker 5: go into repayment.
• 15:13
  Speaker 2: Right.
• 15:14
  Speaker 5: And so let's say, for example, somebody's loans were normally
• 15:17
  Speaker 5: seven hundred a month. Well, seven hundred a month is
• 15:19
  Speaker 5: a lot, like you already got a mortgage, right, So
• 15:22
  Speaker 5: but then let's say based off of their income and
• 15:24
  Speaker 5: their household size, they can get their loan down to
• 15:27
  Speaker 5: two hundred a month. So which one on paper would
• 15:29
  Speaker 5: you rather have? Two hundred to seven hundred two hundred?
• 15:33
  Speaker 5: So two hundred is what a mortgage lender can use
• 15:36
  Speaker 5: when looking at your debt to income ratio. But the
• 15:39
  Speaker 5: caveat is you have to have my opinion over a
• 15:43
  Speaker 5: seven to twenty credit score. Now, some people say seven hundred,
• 15:45
  Speaker 5: but I account for them checking your credit and it
• 15:47
  Speaker 5: going down. So and the reason that is is because
• 15:50
  Speaker 5: conventional loans, the better your credit, the better you'll get
• 15:53
  Speaker 5: in terms of your interest rate and less money you
• 15:56
  Speaker 5: have to put down.
• 15:57
  Speaker 2: Yeah, I laughed when you said the cares that because
• 16:00
  Speaker 2: most people know if you owe student loan that you
• 16:03
  Speaker 2: only there's no interest being charged up until the thirty
• 16:05
  Speaker 2: first of January of twenty twenty one, and so that's
• 16:10
  Speaker 2: an issue. But I actually knew about those replayment plans.
• 16:12
  Speaker 2: They actually, you know, I own suit or a little
• 16:15
  Speaker 2: bit a little bit.
• 16:16
  Speaker 4: Can we even talk about that? For even people that
• 16:19
  Speaker 4: have it might already know. But let's say kids are
• 16:21
  Speaker 4: listening to it that's in college or they trying to
• 16:23
  Speaker 4: make a decision. So it's the I cry the IV
• 16:28
  Speaker 4: we can talk about.
• 16:30
  Speaker 2: I was actually gonna go there. So the fourth it
• 16:32
  Speaker 2: was paid repay, the IBr and ICR. The reason I
• 16:35
  Speaker 2: found out is because when I was trying to get
• 16:38
  Speaker 2: a loan forgiveness plan, I wasn't part of one of those, right,
• 16:40
  Speaker 2: and so I got declined yes, and I was like, wait,
• 16:43
  Speaker 2: what is this? And so yeah, can you go into
• 16:45
  Speaker 2: the depth of the parameters of these, So.
• 16:47
  Speaker 5: Let's go through it. So Obama, the Obama administration gave
• 16:50
  Speaker 5: us the pay and the repay plan. So pay came
• 16:53
  Speaker 5: out first. And that's for those that have new loans
• 16:56
  Speaker 5: or newly consolidated loans in the direct loans program, you're
• 17:00
  Speaker 5: payment is kepped at ten percent. Repay came out like
• 17:03
  Speaker 5: because people went off, they were like upset, like, so
• 17:06
  Speaker 5: I can't get my payment's lower. So then they came
• 17:08
  Speaker 5: out what's called repay that said, if you just have
• 17:10
  Speaker 5: a direct loan, doesn't have to be newly consolidated, you
• 17:13
  Speaker 5: can get ten percent too, although more is forgiven over
• 17:17
  Speaker 5: time under the pay plan than the repay plan. The
• 17:20
  Speaker 5: IBr plan is the old fashioned income based repayment plan
• 17:24
  Speaker 5: that everybody knows, and anybody listening should check their loans
• 17:28
  Speaker 5: to see which plan they normally are under. Most people
• 17:31
  Speaker 5: never switch out and they could actually lower their payment
• 17:34
  Speaker 5: by going to repay from IBr.
• 17:36
  Speaker 2: So you have based on how much you make, will
• 17:38
  Speaker 2: determine how much you're gonna have to pay.
• 17:39
  Speaker 5: Yes, so IBr is at a fifteen percent margin. ICR
• 17:44
  Speaker 5: is at a twenty percent repayment. And if anybody's listening,
• 17:47
  Speaker 5: they will write down if they had parent plus loans
• 17:50
  Speaker 5: some such. You teach you, I want to write it
• 17:51
  Speaker 5: out over No, No, I'm like okay, So ICR is
• 17:55
  Speaker 5: twenty percent. Now, what Biden is proposing is the plan
• 17:59
  Speaker 5: that they're saying he's coming out with will be at
• 18:01
  Speaker 5: five percent. So some people are really going to see
• 18:04
  Speaker 5: a good win.
• 18:05
  Speaker 4: In terms of five percent of your of.
• 18:08
  Speaker 5: Your expectation to be able to repay back loans.
• 18:12
  Speaker 4: So if you borrow one hundred thousand, you only have
• 18:14
  Speaker 4: to pay back five thousand.
• 18:16
  Speaker 5: Oh no, five percent of your income.
• 18:18
  Speaker 2: So the income five thousand, okay, right, So like if
• 18:20
  Speaker 2: somebody had was making one hundred thousand, like with a
• 18:23
  Speaker 2: teacher salary in New York, that could happen easily, right,
• 18:25
  Speaker 2: and you have to pay fifteen percent. That's fifteen hundred dollars, right,
• 18:29
  Speaker 2: And so like you have to make to get the
• 18:31
  Speaker 2: forgiveness of the one I was singing. I think it's
• 18:33
  Speaker 2: the PSLF right the public service. So if you're a teacher,
• 18:36
  Speaker 2: if you're anything in a public service, you can get
• 18:38
  Speaker 2: this loan forgive us. You'd have to make one hundred
• 18:40
  Speaker 2: and twenty consecutive payments to qualify for it, and that
• 18:44
  Speaker 2: started dates back to two thousand and seven. So this
• 18:47
  Speaker 2: was the problem I ran into. I'm like, oh, bat,
• 18:48
  Speaker 2: two thousand and seven, I haven't missed a payment. And
• 18:50
  Speaker 2: twenty seventeen, it was my tenth year, and I was like,
• 18:53
  Speaker 2: oh great, so.
• 18:54
  Speaker 5: Then you need to look into what's called the TEPSLF.
• 18:57
  Speaker 2: So I did it. I got to give it for
• 18:59
  Speaker 2: another loan. Yeah. So then that's when I started researching. Wait,
• 19:02
  Speaker 2: there's more loans out there for teachers, and so I
• 19:04
  Speaker 2: did the Teacher Loan Forgiveness where it was like, if
• 19:07
  Speaker 2: you are a highly qualified teacher in the subject at
• 19:09
  Speaker 2: five years, and it has to be a title one
• 19:11
  Speaker 2: schools less perfect. Yeah, two different the podcast.
• 19:16
  Speaker 5: So what you're saying is okay, so let me ask
• 19:18
  Speaker 5: your questions. You got to teach your loan forgiven?
• 19:20
  Speaker 2: But did you get the te I did not. I
• 19:22
  Speaker 2: did not.
• 19:23
  Speaker 5: Did you apply yet?
• 19:24
  Speaker 2: I did, but they told me I wasn't in one
• 19:25
  Speaker 2: of those four qualifying ones. So I wasn't in paid
• 19:28
  Speaker 2: repay IBr Oh wait, no te.
• 19:31
  Speaker 5: Is different than PSLF.
• 19:32
  Speaker 2: Okay, no, then I wasn't. I didn't get that. Yeah,
• 19:34
  Speaker 2: h okay, I'm.
• 19:35
  Speaker 5: Going to offline show you the other perfect so the
• 19:39
  Speaker 5: government and then money stop might still be available. They
• 19:42
  Speaker 5: gave a window of money for people that like him,
• 19:46
  Speaker 5: had been paying since two thousand and seven, but was
• 19:49
  Speaker 5: on a standard plan let's say, and he like, I've
• 19:51
  Speaker 5: been paying so why am I not? And I worked
• 19:53
  Speaker 5: for and so it's under a different program. It's just
• 19:57
  Speaker 5: like a spin off of the PSLF. A lot of
• 19:59
  Speaker 5: people I don't know about it. They talked about it
• 20:01
  Speaker 5: one time on the news. I'm like, so, so I
• 20:04
  Speaker 5: will show you where that's at. Last time I checked,
• 20:07
  Speaker 5: there's still money availbile.
• 20:08
  Speaker 2: Because it was like a bunch of people who applied,
• 20:10
  Speaker 2: they had did the ten years, they had one hundred
• 20:11
  Speaker 2: and twenty payments, and I think less than one percent
• 20:13
  Speaker 2: of people actually God forgiveness.
• 20:14
  Speaker 5: So then they told them to go back and apply
• 20:16
  Speaker 5: for the second plan. I'm telling you about it, but
• 20:18
  Speaker 5: it got confusing and people didn't do it. They closed it,
• 20:22
  Speaker 5: they reopened it. So last time I check, I looked,
• 20:24
  Speaker 5: literally the other day it's still open.
• 20:26
  Speaker 2: Your m is about to blow up, Okay, but that's.
• 20:29
  Speaker 5: Still you know. So I have to be weirdly knowledgeable
• 20:32
  Speaker 5: about these things. And let me be very clear, like
• 20:34
  Speaker 5: I don't work for solid man. I don't even like
• 20:36
  Speaker 5: student loans. And a concept I like that people that
• 20:40
  Speaker 5: come to us or come to me initially can get
• 20:43
  Speaker 5: the help to move forward in life, because like if
• 20:45
  Speaker 5: you walk away with one hundred percent forgiveness. After that,
• 20:47
  Speaker 5: he gonna be lighting the burder around here, right, and
• 20:49
  Speaker 5: then you're want to do something different with your money,
• 20:52
  Speaker 5: Like I don't know how much you pay towards your
• 20:53
  Speaker 5: student loans out of COVID, but that additional money can
• 20:56
  Speaker 5: go to all the things you guys talk about, right,
• 20:58
  Speaker 5: real estate and investment. But that'd be the number one
• 21:00
  Speaker 5: reason why people do not get into growing their money
• 21:04
  Speaker 5: because the student long death.
• 21:05
  Speaker 2: Yeah, it makes you. It can make you stagnant, rights,
• 21:09
  Speaker 2: it can make you depressed. It could leave you to
• 21:11
  Speaker 2: a point where it's like, Yo, now I have to
• 21:12
  Speaker 2: live at home longer than I expected. Now I can't
• 21:14
  Speaker 2: afford to get a car. Now I can't afford to
• 21:18
  Speaker 2: even be in a real relationship right because I can't
• 21:22
  Speaker 2: have it. I can't I can't get married. I can't
• 21:24
  Speaker 2: afford to do it. And so it stagnates your life
• 21:26
  Speaker 2: from our decision that you made at eighteen.
• 21:28
  Speaker 5: I gotta tell the story. Okay, so this is real,
• 21:31
  Speaker 5: and then somebody's watching, it's gonna understand what I'm about
• 21:33
  Speaker 5: to say. So if you are particularly like a black woman,
• 21:37
  Speaker 5: and you're dating and you got six figure student on debt,
• 21:39
  Speaker 5: I know, I come up being in mind at one
• 21:41
  Speaker 5: point like how I'm not going to tell this man, right?
• 21:43
  Speaker 5: So what happens? When I used to do want on
• 21:45
  Speaker 5: one appointments in person? I missed those dings. Those were
• 21:48
  Speaker 5: fun guys who used to book their fiance and girlfriends
• 21:52
  Speaker 5: for appointments that the girls didn't know about. So they
• 21:55
  Speaker 5: were come in like, well where are we at. I'm like, Hi,
• 21:57
  Speaker 5: I'm thinking everybody knows. Nobody knows but him. And I'm like,
• 22:01
  Speaker 5: so you didn't tell her? He's like, no, I'm going
• 22:03
  Speaker 5: to get some lunch. He like just dropped the girl
• 22:06
  Speaker 5: offt trail. She's arms folded, she's kight, And I'm like,
• 22:09
  Speaker 5: oh god, and you might had like penny buds at work. Now,
• 22:11
  Speaker 5: don't have that in office. So I was like, oh okay.
• 22:14
  Speaker 5: So I was like, so here's what's going to happen.
• 22:16
  Speaker 5: So we want to go through your loans and I
• 22:18
  Speaker 5: said and to the girl. I remember she was so upset.
• 22:20
  Speaker 5: She had that bad attitude. And then I just had
• 22:22
  Speaker 5: to get real for like two seconds, you know, I
• 22:24
  Speaker 5: was like, look, so look this was about to be
• 22:25
  Speaker 5: I was like, I really think that this man likes you.
• 22:28
  Speaker 5: He likes you enough to have booked disappointment. He thinks
• 22:31
  Speaker 5: highly enough of you. That probably means he may want
• 22:33
  Speaker 5: to propose get married soon. But he's very serious about
• 22:37
  Speaker 5: his money and he's not going to propose to you
• 22:39
  Speaker 5: unless you tackle your student loan. That because I think
• 22:41
  Speaker 5: she told him right. So I said, so what we're
• 22:43
  Speaker 5: going to do is we're going to put you on
• 22:45
  Speaker 5: this plan. And I think she was eligible for PSL left.
• 22:48
  Speaker 5: I said, and then when he comes back, you're going
• 22:50
  Speaker 5: to tell him the game plan, like all excited, enthusiastic,
• 22:53
  Speaker 5: you got it, but I don't know, Like I just
• 22:54
  Speaker 5: think of a whole different person. And she was like, okay,
• 22:57
  Speaker 5: So we did work it out to where a payment
• 22:58
  Speaker 5: will be one thirty. She was in all on PSL left.
• 23:01
  Speaker 5: And then you could see his face was like, oh,
• 23:03
  Speaker 5: all right, okay, so but you're saying, is all she
• 23:05
  Speaker 5: gotta do is so he was like real light after
• 23:07
  Speaker 5: that because it was real tense. And then sure enough,
• 23:10
  Speaker 5: you know, I stopped him. I wanted to see like
• 23:12
  Speaker 5: six months later he proposed, but now, like I don't
• 23:15
  Speaker 5: think he would have not proposed it. Well, we don't know, really,
• 23:18
  Speaker 5: but he really needed to feel comfortable that she was
• 23:21
  Speaker 5: on top of her loan day. And so it does
• 23:23
  Speaker 5: come up in dating and trying to buy home together.
• 23:26
  Speaker 2: Student loan, doctor, solash, marriage counselor.
• 23:28
  Speaker 4: Salute, salute that man. So let me ask you this. Okay.
• 23:31
  Speaker 4: So me, I'm a slow learner and fortunately I never
• 23:36
  Speaker 4: had to deal with any of this stuff. So all
• 23:40
  Speaker 4: of this stuff is like kind of foreign to me.
• 23:43
  Speaker 4: So for people that you know, might be in the
• 23:45
  Speaker 4: same boat as me, and they might have children, they
• 23:47
  Speaker 4: might not affect them, but they might have children. So sure,
• 23:50
  Speaker 4: let's try to let's try to unpack this a little bit.
• 23:53
  Speaker 4: So it's like all these different loans, which one is
• 23:56
  Speaker 4: the best loan to get in? I know that's like
• 23:58
  Speaker 4: a hard question, but which one is the best loan
• 24:01
  Speaker 4: to get in? And then if you are in a
• 24:03
  Speaker 4: bad loan, how can you maneuver into a good one.
• 24:08
  Speaker 5: So with the federal government, there's only like one type
• 24:11
  Speaker 5: of loan. It's just a federal loan. Right, And so
• 24:14
  Speaker 5: when we have students going to college, what's called them
• 24:16
  Speaker 5: award letter. They'll be told if they get any grants,
• 24:19
  Speaker 5: any scholarships, and then on the award letter it'll say
• 24:22
  Speaker 5: unsubbed and sub right, and so submeans loans that have
• 24:27
  Speaker 5: interests that's paid for by the government. Unsub means the interests.
• 24:31
  Speaker 5: You're responsible from day one. As to Howard A. Cruz,
• 24:34
  Speaker 5: parents get jammed up when they apply for what's called
• 24:36
  Speaker 5: the parent plus loan. It's like the double child of
• 24:39
  Speaker 5: student loans. Like it's bad, but they really make it
• 24:43
  Speaker 5: to where parents get trapped with it's like kind of
• 24:46
  Speaker 5: a private loan.
• 24:47
  Speaker 2: Yeah, that was just going to say, that's a difference
• 24:49
  Speaker 2: between the federal, the federal and the privates.
• 24:52
  Speaker 5: Right, and because the interest rate is horrible, like seven
• 24:54
  Speaker 5: point eight, most times they want you to go into
• 24:57
  Speaker 5: repayment right away. They do hit and look get your
• 25:00
  Speaker 5: credit and so then you got to decide who has
• 25:02
  Speaker 5: better credit, Mom or dad when doing the application. If
• 25:05
  Speaker 5: mom or Dad gets denied, the child can get two
• 25:07
  Speaker 5: thousand additional per the semester. But if you're going anywhere
• 25:11
  Speaker 5: outside of the state school, like if we're here in
• 25:13
  Speaker 5: New York, that money should be enough to cover that tuition.
• 25:18
  Speaker 5: But when people go to more expensive schools, what happens.
• 25:20
  Speaker 5: They got to take.
• 25:21
  Speaker 4: Out private, private.
• 25:23
  Speaker 5: Loans, And now private loans are really like the death
• 25:26
  Speaker 5: of our economy, particularly for black millennials, because everyone wants
• 25:32
  Speaker 5: to go to an HBCU, right, but everybody's not getting
• 25:35
  Speaker 5: full funding to go to an HBCU. So I see
• 25:39
  Speaker 5: a lot of graduates that come out the most it
• 25:42
  Speaker 5: can borrow is fifty seven thousand, five hundred undergrad and
• 25:46
  Speaker 5: then they have like one hundred thousand and private loan debt.
• 25:50
  Speaker 5: Let me be really clear, one hundred thousand private loan
• 25:52
  Speaker 5: is different than one hundred thousand federal. And the reason
• 25:56
  Speaker 5: it is is because if you owe one hundred thousand,
• 25:58
  Speaker 5: your payment could still only be two hundred dollars based
• 26:01
  Speaker 5: off your income and who you take care of. But
• 26:03
  Speaker 5: with a private loan, that payment's going to be one
• 26:06
  Speaker 5: thousand dollars with a period behind it.
• 26:08
  Speaker 2: Then the f work comes for barance. So well, no,
• 26:12
  Speaker 2: not with private.
• 26:13
  Speaker 4: Federal can so federal loans all of these programs, income
• 26:17
  Speaker 4: based programs, all of that, but private loans there's no
• 26:20
  Speaker 4: kind of program to lower the payment.
• 26:22
  Speaker 5: No, your lender may have something like NAVI and may say, well,
• 26:26
  Speaker 5: we'll allow you to do something for bearance, but then
• 26:29
  Speaker 5: the interest is still capitalizing the time you come out
• 26:32
  Speaker 5: of it. The payment's now like thirteen hundred a month,
• 26:34
  Speaker 5: so it's really no relief. Now, let me say this,
• 26:38
  Speaker 5: there are only two states, Pennsylvania and Texas that will
• 26:42
  Speaker 5: not allow private loan that to take over your income
• 26:45
  Speaker 5: like garnish your wages. But New York definitely we get
• 26:50
  Speaker 5: a lot of clients that call in crying literally because
• 26:53
  Speaker 5: they get their paychecks snatched up to twenty five percent. Georgia,
• 26:57
  Speaker 5: particularly Florida. I'm just thinking about where we get the
• 27:00
  Speaker 5: most cast from with that issue, Boston, Massachusetts. So if
• 27:04
  Speaker 5: you're listening to this and you have private loan debt, right,
• 27:07
  Speaker 5: because I know that's the question that comes up a lot.
• 27:09
  Speaker 5: The goal is to get your credit up as best
• 27:11
  Speaker 5: as possible so that you can refinance your loans. This
• 27:15
  Speaker 5: is the best time to refinance private loan debt. But
• 27:19
  Speaker 5: I have an asterisk so because I do believe with
• 27:22
  Speaker 5: the Biden administration that there is going to be a
• 27:24
  Speaker 5: form of loan forgiveness ten thousand and fifty thousand or
• 27:27
  Speaker 5: one hundred percent through the Higher Education Act of nineteen
• 27:31
  Speaker 5: sixty five. The President elect is already allowed as soon
• 27:34
  Speaker 5: as he takes office. He could just sign it off
• 27:37
  Speaker 5: in one stroke.
• 27:40
  Speaker 2: So that's that's that's a good point. It's still a
• 27:42
  Speaker 2: loan debt. And so those are some of the proposals.
• 27:45
  Speaker 2: Right there is everybody who has student federal student loan
• 27:48
  Speaker 2: that outside we're going to confuse it with private they're
• 27:51
  Speaker 2: going to get ten thousand dollars if he signs it,
• 27:53
  Speaker 2: right or or the other proposal is we can do
• 27:56
  Speaker 2: ten thousand for five years, right or completely wipe away
• 28:00
  Speaker 2: everybody stood alone his.
• 28:02
  Speaker 5: Program ten thousand for five years. That'll just passed probably
• 28:04
  Speaker 5: through the Congress in the House. That's fine. But what
• 28:07
  Speaker 5: we know he has the authority to do, every president
• 28:11
  Speaker 5: has already had the authority to do. Is literally signed
• 28:14
  Speaker 5: one hundred percent at one point nine trillion away.
• 28:17
  Speaker 2: So here's my question. Right, let's say, because the average
• 28:20
  Speaker 2: person right has under twenty five thirty two thousand dollars
• 28:24
  Speaker 2: and shuit of loan, that there's no interest being applied
• 28:28
  Speaker 2: right now, only the principle you can pay toward that.
• 28:31
  Speaker 2: If we can do it, should we pay it off
• 28:33
  Speaker 2: or should we wait to the administration to come in
• 28:34
  Speaker 2: and see what happens.
• 28:36
  Speaker 5: So I get that question like almost every day. So
• 28:39
  Speaker 5: here's what I would say. There is going to be
• 28:41
  Speaker 5: something coming, and you know a president likes to make
• 28:43
  Speaker 5: his mark in the first one hundred days. Yeah, so
• 28:46
  Speaker 5: for real, for real, you you could wait, like you know,
• 28:48
  Speaker 5: about one.
• 28:48
  Speaker 2: Hundred I'm asking for a friend, I'm asking for a
• 28:51
  Speaker 2: frontone's watching this like right.
• 28:52
  Speaker 5: Now, you know, one hundred and thirty days out. I
• 28:54
  Speaker 5: would be on the minimum payment type of situation because
• 28:57
  Speaker 5: if something did come, let's say the big number that
• 28:59
  Speaker 5: the Democrats are pushing him to, it's fifty thousand, you
• 29:02
  Speaker 5: would have your loans right clear, but you're not getting
• 29:05
  Speaker 5: any money back that you put out right. So I think,
• 29:08
  Speaker 5: you know, it's bad to say this out loud, but
• 29:10
  Speaker 5: I would probably be a minimum payment to see what happens.
• 29:12
  Speaker 2: So I noted.
• 29:13
  Speaker 4: Let me ask you this as far as all right,
• 29:16
  Speaker 4: So I guess the best student loan to get in
• 29:19
  Speaker 4: is a federal loan out a private loan, Yes, the
• 29:22
  Speaker 4: best one. So when you get in, So those options
• 29:25
  Speaker 4: are just repayment options, Like there's only one federal student loan, right,
• 29:28
  Speaker 4: It's not like different types of federal student loans.
• 29:30
  Speaker 5: No, it's just one type of federal loan. The other
• 29:32
  Speaker 5: federal loans that they used to have, which are called
• 29:34
  Speaker 5: f f el or f f ELP or perkinsans. Yeah,
• 29:40
  Speaker 5: those are more so with colleges. Universities would give out
• 29:44
  Speaker 5: on behalf of the government. Those loans and programs have stopped.
• 29:48
  Speaker 5: If you are listening to this and you have an
• 29:50
  Speaker 5: f f el or f f el P or Perkins loan,
• 29:53
  Speaker 5: you should look into consolidating your loans into the direct
• 29:56
  Speaker 5: loans program so that you can take advantage of any
• 30:00
  Speaker 5: forgiveness that's coming. Because this current administration does not get
• 30:04
  Speaker 5: paid or even the Care Act. If you had a
• 30:08
  Speaker 5: loan that wasn't a direct loan even in the KRESAC,
• 30:10
  Speaker 5: they didn't pay for your loans right now, or they
• 30:12
  Speaker 5: didn't cover your loan deck. So you probably want to
• 30:15
  Speaker 5: look into consolidation and see if it's a good fit.
• 30:18
  Speaker 2: So, I mean it puts especially parents you know who
• 30:20
  Speaker 2: come from working class you know homes, because a lot
• 30:24
  Speaker 2: of times when you apply for student loans and your
• 30:26
  Speaker 2: parents make a certain amount or a decent living, you're
• 30:29
  Speaker 2: not going to get any right most times, Like I
• 30:31
  Speaker 2: remember applying for student loans and I got like two
• 30:35
  Speaker 2: hundred and forty six dollars. I'm like, this is like
• 30:37
  Speaker 2: one book, and so it forces you almost to say,
• 30:39
  Speaker 2: like I got to take out this loan and I
• 30:40
  Speaker 2: got to go to private route. So what are we
• 30:43
  Speaker 2: doing in those scenarios? Is it just like try your
• 30:45
  Speaker 2: basket scholarships or look for grants? What are we supposed to.
• 30:47
  Speaker 5: Do so a student going into college?
• 30:49
  Speaker 2: Yeah?
• 30:49
  Speaker 5: Right, So a couple of things. If you're a student
• 30:52
  Speaker 5: listening to this, I know you guys do have a
• 30:53
  Speaker 5: good audience that's younger. You know, I believe it what's
• 30:56
  Speaker 5: called scholarship Sundays. So I would recommend that started, uh,
• 31:02
  Speaker 5: sophomore in junior year, you start looking for the scholarships
• 31:05
  Speaker 5: you're gonna apply to most times in junior year, right,
• 31:08
  Speaker 5: and the challenge but all of this is and what
• 31:10
  Speaker 5: it comes down to is as parents, we don't prepare
• 31:14
  Speaker 5: weld enough. And by no fault to anybody listening, like,
• 31:18
  Speaker 5: don't feel bad that you didn't prepare, but just know
• 31:21
  Speaker 5: that this generation right here, the millennial generation, has to
• 31:24
  Speaker 5: be the one that ends the loan. That Like, first off,
• 31:27
  Speaker 5: if you're listening to your podcast and they're listening, they
• 31:29
  Speaker 5: shouldn't even be thinking about their child having to take
• 31:32
  Speaker 5: out stud loans. Like that's kind true digtive. Everything you
• 31:35
  Speaker 5: guys teach in terms of well filled.
• 31:37
  Speaker 2: We just had this conversation of the night, like whose
• 31:39
  Speaker 2: responsibility is is it? The parents are acting preparation the issue.
• 31:43
  Speaker 5: Look, I'm like, I'm at we first.
• 31:46
  Speaker 2: Like so a lot of us are first generation college graduates,
• 31:48
  Speaker 2: and so like our parents, my parents are our from
• 31:50
  Speaker 2: this country, they didn't they don't know these things, and
• 31:52
  Speaker 2: so like now I'm looking at my responsibility for my children.
• 31:54
  Speaker 2: It's like, we don't. We're never gonna have to.
• 31:56
  Speaker 4: Take so so all right, so let me ask you
• 31:58
  Speaker 4: this because fortunately like saying I don't have to go
• 32:00
  Speaker 4: through this process because I play basketball and I had
• 32:02
  Speaker 4: a scholarship.
• 32:02
  Speaker 2: He's a scholarship.
• 32:06
  Speaker 5: A little different.
• 32:09
  Speaker 2: That's where you don't got a student loan. That that's
• 32:10
  Speaker 2: what you look like.
• 32:13
  Speaker 5: Right now over there, He's.
• 32:15
  Speaker 2: Like, what is this? F h A you're talking about? Troy?
• 32:18
  Speaker 4: You got to work on your jump shot.
• 32:20
  Speaker 2: I'm like, yeah, I.
• 32:24
  Speaker 5: Had scholarships in college. Can I be believe really honest
• 32:27
  Speaker 5: with you, I just didn't have guidance to tell me
• 32:29
  Speaker 5: then not take out the refund check. So I didn't
• 32:32
  Speaker 5: have a lot. I'm gonna be real. Like in college show,
• 32:35
  Speaker 5: I was living I'm living good now, but in college
• 32:39
  Speaker 5: I was living right under this level.
• 32:41
  Speaker 2: And I know that's not weird, but I had a
• 32:42
  Speaker 2: full ride refund checked week.
• 32:45
  Speaker 5: No fuddy as a young black kid. Somebody saying, come
• 32:48
  Speaker 5: to the bursar's office and pick up five thousand every semester.
• 32:53
  Speaker 5: What true religious? Yo, listen, true religious? If you was
• 32:57
  Speaker 5: my friend, I got you up here. I didn't want
• 32:59
  Speaker 5: to walk on kid. We didn't look fly together. We're
• 33:01
  Speaker 5: not eating campus food. We're gonna run lobster and I'm
• 33:04
  Speaker 5: like the first half of car you a College was
• 33:06
  Speaker 5: so fun, But that's because I had a lot of
• 33:08
  Speaker 5: money coming in from scholarships that the refunds that I
• 33:11
  Speaker 5: did take was like play money because I didn't understand them,
• 33:14
  Speaker 5: if that makes sense. Yeah, Like Sundays.
• 33:16
  Speaker 2: We're all here eating, yo, like made us overhead.
• 33:20
  Speaker 5: You know, if I had real friends, I kind of
• 33:23
  Speaker 5: brought a lot of friendships because I I've always been
• 33:25
  Speaker 5: very generous and I have a good heart and I'm
• 33:27
  Speaker 5: really if I eat, you eat, That's how I feel.
• 33:30
  Speaker 5: And it used to be to the point look at
• 33:31
  Speaker 5: the Brian's like you said yes, yeah, so like on Sundays,
• 33:36
  Speaker 5: it's like, so digress. But like I was like, all right,
• 33:38
  Speaker 5: I'm cooking. I'm not a cook. I'm like, if you
• 33:40
  Speaker 5: want to contribute to stories, I'm like, put the pack
• 33:44
  Speaker 5: of fish with your name on the city so I
• 33:46
  Speaker 5: know that you can come back. Because they would drop
• 33:47
  Speaker 5: up all types of food. Oh my god, friends and
• 33:49
  Speaker 5: a lot of goudfriends, like you could do five fishes
• 33:51
  Speaker 5: dropped off at the door.
• 33:53
  Speaker 2: Yeah like that.
• 33:56
  Speaker 4: And then all that college I had this this a
• 34:00
  Speaker 4: true story. I know one year, for one year straight,
• 34:04
  Speaker 4: I ate tuna fish every day.
• 34:05
  Speaker 5: For one year on year straight. Eight mom and noodles.
• 34:08
  Speaker 5: And imagine that wall being stacked that with MoMA noodles.
• 34:11
  Speaker 5: Beef shrimp you want today, I don't want that.
• 34:15
  Speaker 2: I was like, we got options, beef oil.
• 34:18
  Speaker 4: I haven't had tun official and I still eat it
• 34:20
  Speaker 4: every once in a while, but now I eat it
• 34:22
  Speaker 4: in a salad. I was eating it on a sandwich
• 34:25
  Speaker 4: like jacked up.
• 34:26
  Speaker 2: Na.
• 34:26
  Speaker 4: You know the thing about it is playing sports. So
• 34:29
  Speaker 4: so my first two years was in Maryland, my next
• 34:31
  Speaker 4: two years was in Hawaii. So Maryland, the scholarship included
• 34:35
  Speaker 4: just the cafeteria food and dorm rooms and all that.
• 34:38
  Speaker 4: When I went to Hawaii, everything was paid for, but
• 34:41
  Speaker 4: they gave me a check. They gave me a check
• 34:42
  Speaker 4: for like six thousand dollars and then that was to
• 34:44
  Speaker 4: pay for my off campus apartment, pay for food and
• 34:47
  Speaker 4: all of that. So I blew it. I was on
• 34:50
  Speaker 4: my own, so I was just going grocery shopping. But
• 34:51
  Speaker 4: I ain't I didn't know how to cook. I had
• 34:52
  Speaker 4: a form and grow. I was just putting anything on
• 34:54
  Speaker 4: the form and grow. And then I was just making friends.
• 34:58
  Speaker 2: Yeah, we thought we was, I mean eleven hours away.
• 35:01
  Speaker 2: It was back in New York.
• 35:05
  Speaker 4: So yeah, so you know it was. It was tough,
• 35:08
  Speaker 4: but we made it through. We made it through. We
• 35:10
  Speaker 4: made it through.
• 35:11
  Speaker 2: You see what I'm saying that you can put tune
• 35:18
  Speaker 2: in your salad when you're got pray student loan.
• 35:20
  Speaker 4: So it so let me ask you this. So yeah,
• 35:22
  Speaker 4: so as far as parents, right, it's interesting what you
• 35:25
  Speaker 4: just said. You said, if they're listening to this, they
• 35:27
  Speaker 4: shouldn't even be worried about that. So what is your
• 35:30
  Speaker 4: advice for parents? Like, because it's like, all right, so
• 35:35
  Speaker 4: if they can't afford to send their kids to college, right,
• 35:39
  Speaker 4: should they just go community college and then state school
• 35:42
  Speaker 4: and just only do federal like should they never do
• 35:46
  Speaker 4: At what point does it make sense to do student
• 35:48
  Speaker 4: loans or does it really make sense to do to
• 35:50
  Speaker 4: the loan?
• 35:50
  Speaker 5: So some license but not a license in this section
• 35:52
  Speaker 5: something with teater lightly, but I think it would be
• 35:55
  Speaker 5: best to be everyone to google the five to nine
• 35:58
  Speaker 5: plan in their state and then talk to since professional
• 36:01
  Speaker 5: that can talk to you about a five to nine plan,
• 36:03
  Speaker 5: because if you are I call what's called the sticky
• 36:06
  Speaker 5: middle middle classes, what's called the sticky middle not enough
• 36:08
  Speaker 5: to get a full grant ride, but not wealthy enough
• 36:12
  Speaker 5: to pay out a pocket right, So that sticky middle
• 36:15
  Speaker 5: is that's where a lot of people suffer. They're like, oh,
• 36:18
  Speaker 5: you should be able to contribute to your child's education,
• 36:21
  Speaker 5: and most people can't. So what happens is the student loan,
• 36:24
  Speaker 5: that the private loan, that the parent plus loan that
• 36:26
  Speaker 5: comes into play. But there is something called really a
• 36:28
  Speaker 5: big proponent a fan of, called the five to nine plan,
• 36:31
  Speaker 5: where someone that has a child early on or a
• 36:34
  Speaker 5: grandchild can start to contribute to their child's education. And
• 36:38
  Speaker 5: we can have a five to nine party every year
• 36:40
  Speaker 5: or on the birthday So I know a few people
• 36:43
  Speaker 5: that their child at age nine has their college fully
• 36:46
  Speaker 5: paid for at today's prices.
• 36:47
  Speaker 2: So the five to nine party, no gifts would just contributed.
• 36:50
  Speaker 5: To the plane literally bringing it like you can find
• 36:52
  Speaker 5: a deposit or you can just bring a twenty like that.
• 36:55
  Speaker 4: You can write a check too from check book the
• 36:56
  Speaker 4: five twenty nine a few times on a podcast. All right,
• 36:59
  Speaker 4: So your philosophy is like you should be playing to
• 37:02
  Speaker 4: pay for college.
• 37:03
  Speaker 5: Don't rely on because you know that our culture and
• 37:06
  Speaker 5: when I say our African Americans, we don't believe in
• 37:10
  Speaker 5: picking up the ten for our kids in this extent.
• 37:12
  Speaker 5: But in other cultures, like I've been studying this, it
• 37:15
  Speaker 5: is expected that the parent pays for that.
• 37:18
  Speaker 4: It's like a wedding.
• 37:19
  Speaker 5: Yeah, but in our culture, what do we pay for it?
• 37:21
  Speaker 2: Right at all? Oh?
• 37:23
  Speaker 5: Yeah, problems we do that any weddings, right car baby showers, baby.
• 37:27
  Speaker 2: Showers show we get the more baby showers and weddings,
• 37:32
  Speaker 2: that's the fact, right.
• 37:33
  Speaker 4: The Birdberry shirt was a staple at baby shower.
• 37:38
  Speaker 2: That's how you know who the father was the Burberry shirt.
• 37:42
  Speaker 2: That's not you know what also too, and to go
• 37:46
  Speaker 2: along with that, is that we got to change the
• 37:49
  Speaker 2: stigma on community college. Yes, especially in New York. Man
• 37:52
  Speaker 2: it's like people feel like I feel like I'm not
• 37:55
  Speaker 2: going anywhere. Yes, Like number one, if you get a
• 38:00
  Speaker 2: if you get a level arts degree, it won't matter
• 38:02
  Speaker 2: because you're gonna be able to he's dying. It won't matter.
• 38:07
  Speaker 2: I mean, you can still transfer after two years plus
• 38:09
  Speaker 2: you're gonna save yourself maybe fifty to one hundred thousand
• 38:12
  Speaker 2: dollars by just staying home. You know what I mean.
• 38:13
  Speaker 2: You're not paying rumin board, You're still eating a home.
• 38:16
  Speaker 5: Here's the head.
• 38:16
  Speaker 2: The stigma's crazy.
• 38:17
  Speaker 5: I'm a reformed college professor, right, and I could teach
• 38:21
  Speaker 5: at a community college or I could teach at a
• 38:23
  Speaker 5: private institution. It was the same class, the same textbook.
• 38:27
  Speaker 5: I just got paid a little different. But the students
• 38:30
  Speaker 5: were paying at the community college to see me on
• 38:32
  Speaker 5: Tuesday three hundred dollars. At the private college they were
• 38:35
  Speaker 5: paying sixteen hundred class, same professor, same book. Just catch
• 38:41
  Speaker 5: me on a different show.
• 38:43
  Speaker 4: And once you it's like, if you have a bachelor's
• 38:47
  Speaker 4: degree and you went to community college, they don't count
• 38:50
  Speaker 4: your associate The only thing that matterges your bachelor's degree.
• 38:52
  Speaker 4: You have a master's degree. The only thing that really
• 38:54
  Speaker 4: manages your master's degree. So like a lot of people
• 38:56
  Speaker 4: even think like the first four years if you if
• 38:58
  Speaker 4: you know you're going to be a doctor, like go
• 39:00
  Speaker 4: to a good undergrad but don't spend all of your
• 39:02
  Speaker 4: money on it, like because your master's program is can
• 39:04
  Speaker 4: be more important. Like you know, he went to community college,
• 39:07
  Speaker 4: Barack Obama, No nobody knows that because they only look
• 39:11
  Speaker 4: at Harvard. I think he went to where do you
• 39:13
  Speaker 4: go before Harvard? Columbia? He went to Columbia, and he
• 39:16
  Speaker 4: went to Harvard. So it's like they only look at
• 39:19
  Speaker 4: that part of it, but they didn't look at the
• 39:20
  Speaker 4: two years he spent in community college. Nobody cares. But
• 39:23
  Speaker 4: now it's two years that you're going for next to nothing,
• 39:26
  Speaker 4: and a lot of kids aren't mature enough to actually
• 39:30
  Speaker 4: go away from home and they make a lot of mistakes.
• 39:32
  Speaker 4: So that's like, you know, it's the time to actually
• 39:34
  Speaker 4: develop and grow as a person. And now you got
• 39:38
  Speaker 4: two years on your belt, and now you can get
• 39:39
  Speaker 4: another two years if you want.
• 39:40
  Speaker 5: I'm gonna be honest with you. With COVID, I would
• 39:43
  Speaker 5: be pissed if I was paying that tuition and I'm
• 39:46
  Speaker 5: home with my friend that's home on the same platform
• 39:51
  Speaker 5: paying way less tuition. Like that's crazy, like I would
• 39:54
  Speaker 5: be enrolling and switching over to another school like personally.
• 39:57
  Speaker 4: So let me ask you this. As far as forbearans,
• 40:00
  Speaker 4: there's general forbearance and administrative forbearance. What is the difference
• 40:04
  Speaker 4: between those two?
• 40:05
  Speaker 5: So general for baras, I'll give you examples, like when
• 40:08
  Speaker 5: you need to call your lender like I don't got it,
• 40:11
  Speaker 5: Like so in thirty six months in the lifetime of
• 40:13
  Speaker 5: your loan that you can just extend in no questions asked.
• 40:16
  Speaker 5: Then you have what's called administrative for barans from the
• 40:19
  Speaker 5: government for whatever they determine as a permissible reason they
• 40:24
  Speaker 5: can cover your interests, right. And then you have what's
• 40:27
  Speaker 5: called economic deferment. That's when people don't know about this one,
• 40:30
  Speaker 5: but that's when you get laid off or you lost
• 40:33
  Speaker 5: your job, you have some paperwork that says that instead
• 40:36
  Speaker 5: of using your general forbearance moms, you want to use
• 40:38
  Speaker 5: your economic deferment. Or if you live in an area
• 40:41
  Speaker 5: that has really bad weather like hurricanes and so forth,
• 40:45
  Speaker 5: there's weather related deferments too that people can get so
• 40:48
  Speaker 5: that you don't have to again run through your thirty
• 40:50
  Speaker 5: six months?
• 40:51
  Speaker 4: How do you how would you know that? Do you like?
• 40:54
  Speaker 4: Because I didn't know that? Do you have to call
• 40:56
  Speaker 4: your lender? Like, yeah, you do? You offer weather for
• 40:59
  Speaker 4: a barans? Do you all for job?
• 41:01
  Speaker 5: Well, it's a government program, but it's again it's not
• 41:04
  Speaker 5: fully advertised. See that's the problem again with a lot
• 41:08
  Speaker 5: of our lenders in their website. Some websites some lenders
• 41:11
  Speaker 5: is super easy click here, go here. Some are like
• 41:14
  Speaker 5: contact that's an ingle hole for what thirty minutes? And
• 41:17
  Speaker 5: then people just like, oh, forget it, I'm not about
• 41:19
  Speaker 5: to pay them now. It hits your credit. It's a
• 41:21
  Speaker 5: cycle that happens.
• 41:23
  Speaker 2: So I got like a two part question. So do
• 41:25
  Speaker 2: COVID obviously count as an economic event? One?
• 41:27
  Speaker 5: Well, no administrative forbearance now that's what we're under with
• 41:31
  Speaker 5: the care says because it's a government enforced So.
• 41:33
  Speaker 2: And on the thirty first of January, that's done, and
• 41:37
  Speaker 2: now people are back into regular forbearans.
• 41:39
  Speaker 5: No, they're the real wor oh.
• 41:41
  Speaker 2: Payment time, payment time. So then if we're back in
• 41:44
  Speaker 2: payment time, people can now apply for how long is
• 41:46
  Speaker 2: that sixty twelve months or just six months?
• 41:47
  Speaker 5: We don't know how much they have left, Okay, I mean.
• 41:50
  Speaker 2: It took thirty six months.
• 41:51
  Speaker 5: Okay, but by the time somebody listens to this, they
• 41:53
  Speaker 5: probably out, Like you know, and if they had f
• 41:56
  Speaker 5: FLP loans or Perkinsons, they didn't qualify for the the
• 42:01
  Speaker 5: administrator for Barents, so they could have used some of
• 42:03
  Speaker 5: their general for Barans mouths on it.
• 42:05
  Speaker 4: So like bankruptcy, right, that's one of the things that
• 42:10
  Speaker 4: how does that affect How does like student loan play
• 42:12
  Speaker 4: a part into that?
• 42:13
  Speaker 2: Oh?
• 42:14
  Speaker 5: Well, you know my girlfriend Elizabeth Warren not really my girlfriend,
• 42:18
  Speaker 5: I'm just such a fan. So she is trying to
• 42:21
  Speaker 5: She just put a proposal through to revise the Chapter
• 42:24
  Speaker 5: ten bankruptcy laws to say, hey, we need to include
• 42:28
  Speaker 5: federal loan debt as a major economic impact. Like the
• 42:33
  Speaker 5: wording you can go look it up, but basically she
• 42:36
  Speaker 5: wants you to be able to give one hundred percent
• 42:37
  Speaker 5: forgiving through Chapter ten bankruptcy. Now, somebody uneducated is going
• 42:42
  Speaker 5: to watch this and go, I don't want to found bankuptcy.
• 42:45
  Speaker 5: Like you can go to my page and watch it, right,
• 42:47
  Speaker 5: and you used to see all the comments I'm like
• 42:48
  Speaker 5: m M and other cultures bankruptcy is a tool for
• 42:52
  Speaker 5: a financial reset. So if you're watching this and you
• 42:55
  Speaker 5: are twenty seven years old, you're thirty two. I'm not
• 42:58
  Speaker 5: be funny you you was up to thirty two bad credit.
• 43:01
  Speaker 5: You could go like seven more years and then get
• 43:04
  Speaker 5: a fresh restart. But the challenge is we just have
• 43:07
  Speaker 5: to be more knowledgeable on what a bankruptcy would look like.
• 43:10
  Speaker 5: You know, per you now are you're married? Right?
• 43:12
  Speaker 2: Yeah?
• 43:12
  Speaker 5: Okay, So how it would go with or how it
• 43:15
  Speaker 5: should go if let's say Troy takes from the bankruptcy
• 43:18
  Speaker 5: because he wants to clear his loan deck. So then
• 43:20
  Speaker 5: we know that his wife is going to be having
• 43:22
  Speaker 5: a lot of assets in her name for about seven
• 43:24
  Speaker 5: years and then well we don't know what could go
• 43:27
  Speaker 5: left or what happens. And other cultures, the Jewish cultures,
• 43:29
  Speaker 5: when you're done, the wife would then go into bankruptcy
• 43:32
  Speaker 5: and then you would have the perfect credit score. Does
• 43:34
  Speaker 5: that make sense that there's a switch out? So like
• 43:36
  Speaker 5: there's nobody ever like paying anything you.
• 43:39
  Speaker 4: Had mentioned that like as far as like even in
• 43:40
  Speaker 4: a relationship, you shouldn't have everything mingled.
• 43:44
  Speaker 5: No, no, no, I already got new.
• 43:47
  Speaker 2: About their personal No, that's that's valuable information because in
• 43:51
  Speaker 2: my mind I always thought like, yo, student that was
• 43:54
  Speaker 2: with you and student loan was with you until you died. Right,
• 43:57
  Speaker 2: It was like that there's no way to get out
• 43:58
  Speaker 2: of that but bankrupcy hopefully.
• 44:00
  Speaker 4: But that's the gym, not like I don't want to
• 44:03
  Speaker 4: breeze over that point. Why should it not be mingled?
• 44:07
  Speaker 5: Okay, yeah, no, So what happens is again because we
• 44:11
  Speaker 5: don't I'm gon keep talking about our culture as an
• 44:13
  Speaker 5: African American culture. I do a lot of start thought
• 44:16
  Speaker 5: and study around this. We don't know enough to look
• 44:19
  Speaker 5: at each person as an individual, business and entity. Right,
• 44:22
  Speaker 5: So let's say we're married. Shot, right, I don't want
• 44:25
  Speaker 5: everything in both of our names on paper, because now
• 44:28
  Speaker 5: the bank is looking like we're looking real tied up together.
• 44:31
  Speaker 5: My credit is affected, his credit is affected. Everybody shows
• 44:35
  Speaker 5: that they're the DTI is super high. But you gotta
• 44:38
  Speaker 5: trust who you're about to marry. Right, So let's say
• 44:41
  Speaker 5: the loan goes into Shat's name, but I am going
• 44:44
  Speaker 5: to be on the d you see what I'm saying.
• 44:48
  Speaker 5: And then now maybe I get the investment property in
• 44:50
  Speaker 5: my name, and then he's going to go on to
• 44:53
  Speaker 5: the deed as well. But from a long standpoint, from
• 44:57
  Speaker 5: a credit standpoint, we have two separate properties. We're not
• 45:00
  Speaker 5: I can mingle on the same loan.
• 45:02
  Speaker 4: That's that's a gym right there. That's a gym right there.
• 45:04
  Speaker 4: Because a lot of time people dont full understand Julian Gordon.
• 45:06
  Speaker 4: You ever heard of him, You know, he's a he's
• 45:08
  Speaker 4: a real estate job and that's what he's talking about.
• 45:11
  Speaker 4: Like he said, don't buy your first property when you're married.
• 45:14
  Speaker 4: You should buy like when you're engaged. Each person buy
• 45:17
  Speaker 4: a property that way when you get married. Now you
• 45:19
  Speaker 4: got two properties, two different people's names, and it increases
• 45:24
  Speaker 4: your wealth. It doubles your wealth as opposed to doing it,
• 45:27
  Speaker 4: it's just.
• 45:28
  Speaker 5: One yeah, no, we're not doing that, and then.
• 45:30
  Speaker 2: We're not doing it.
• 45:33
  Speaker 5: Should be you know, it should be a duplex or
• 45:35
  Speaker 5: triplex or a quiplex if you're lucky to find one
• 45:38
  Speaker 5: and you like it and you're okay living, you know,
• 45:39
  Speaker 5: the tight quarter, because it really is if you do
• 45:42
  Speaker 5: this right, business is a uh yeah, I said, the
• 45:45
  Speaker 5: right marriage is a business. And so what could happen
• 45:48
  Speaker 5: is let's say we get that quiet, we're in that
• 45:50
  Speaker 5: first unit, on the top floor, and then that the
• 45:53
  Speaker 5: second and third we got renners and then the earners.
• 45:57
  Speaker 2: What's up? You ever walk into a small business and
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• 48:46
  Speaker 5: Bye, we got a commercial property right. We only got
• 48:49
  Speaker 5: to do this what for three years on paper? You know,
• 48:54
  Speaker 5: because the challenge is people get caught up because they
• 48:57
  Speaker 5: have children, and then they a vote your children and
• 48:59
  Speaker 5: other school districts. That's how people get caught up. And
• 49:02
  Speaker 5: then you get all these grants. You're not like, oh,
• 49:03
  Speaker 5: take these grants would make this home free and no
• 49:06
  Speaker 5: money out of pocket. But those grands have lines and
• 49:09
  Speaker 5: clauses that say if you move to a different school
• 49:12
  Speaker 5: district or you move in three years, they can pad
• 49:14
  Speaker 5: like and take your home. I know that's happened to
• 49:16
  Speaker 5: a few people. So you do have to find or
• 49:19
  Speaker 5: don't take the grants. You know, you do have to
• 49:20
  Speaker 5: read with a fine print and then let's say so
• 49:23
  Speaker 5: let's say we did that for three years. Right now,
• 49:25
  Speaker 5: we're gonna take some of this equityut and list all
• 49:27
  Speaker 5: the stuff you gotta seech, and now we're gonna get
• 49:28
  Speaker 5: the next property, or we're gonna get the real home
• 49:31
  Speaker 5: after we get that first one going.
• 49:33
  Speaker 2: So can we talk about credit for a second, because
• 49:35
  Speaker 2: you brought it up? So twenty five percent of borrows
• 49:38
  Speaker 2: usually default on their loan, which encompasses a lot of
• 49:42
  Speaker 2: damage to their credit reports. Is there any solution or
• 49:45
  Speaker 2: maybe a hack that people can use to help or
• 49:48
  Speaker 2: maybe hide a little bit of the suit alone when
• 49:50
  Speaker 2: it comes to the bureaus.
• 49:52
  Speaker 5: So you know, student loans can come off of your
• 49:54
  Speaker 5: credit report. That's not a problem that can come off.
• 49:56
  Speaker 5: They can't hide when you're trying to go buy a home.
• 49:58
  Speaker 2: How's it come off? Oh?
• 50:00
  Speaker 5: Okay, that's my massacre. You know, I like you'll heart.
• 50:05
  Speaker 5: So what would happen is I'm saying fast, Okay, I
• 50:11
  Speaker 5: got for cash right now? All right? So there are
• 50:15
  Speaker 5: three reports. It's Aquafax Experience TransUnion, and I mean, nobody
• 50:19
  Speaker 5: really wants to do it like this, but you would
• 50:21
  Speaker 5: pull three reports and let's say we're looking at the
• 50:23
  Speaker 5: student loans still student loan one is here and it's
• 50:25
  Speaker 5: all listed the same, right, but is it really listed
• 50:28
  Speaker 5: the same? See where I'm going with this. It's not
• 50:30
  Speaker 5: most times. And so let's say when we look on experience,
• 50:34
  Speaker 5: if it could be one number off, or it could
• 50:36
  Speaker 5: be a payment history different than here. And now I'm concerned.
• 50:40
  Speaker 5: All the bureaus high alert. I now want to send
• 50:43
  Speaker 5: a copy of each page I'm highlighting and in my
• 50:46
  Speaker 5: letter this is a discrepancy. I'm just so concerned. As
• 50:49
  Speaker 5: a consumer, I'm not sure which is what this has
• 50:52
  Speaker 5: stopping me from getting a home. Please remove this immediately.
• 50:57
  Speaker 5: That one's for free. It comes off now. But don't
• 51:01
  Speaker 5: try to pull that when you go to buy a home,
• 51:03
  Speaker 5: because you're going to like a liar. I don't have
• 51:05
  Speaker 5: any student loans. I know people that do this and
• 51:07
  Speaker 5: then the lender comes back like, so what's this now?
• 51:10
  Speaker 2: They don't trust you, right because you like.
• 51:14
  Speaker 4: That happens undred thousand dollars John Hopkins, I never went
• 51:20
  Speaker 4: to medical school.
• 51:21
  Speaker 5: Yeah, we're going to tell the truth. You can say,
• 51:23
  Speaker 5: listen on my consumer report. It doesn't show. But if
• 51:26
  Speaker 5: you're going to get a federal loan with another federal loan,
• 51:29
  Speaker 5: they got to be able to say the good standard
• 51:31
  Speaker 5: or not. And you'd be surprised. A lot of people
• 51:33
  Speaker 5: that get their loans off that are in default off
• 51:35
  Speaker 5: of their credit are in default and they can't get
• 51:37
  Speaker 5: a home.
• 51:38
  Speaker 2: So is that true for both federal and private or
• 51:40
  Speaker 2: just federal.
• 51:40
  Speaker 5: For what getting off the report? Yeah?
• 51:42
  Speaker 2: Any any?
• 51:43
  Speaker 4: Ok okay, So as far as like a good will letter,
• 51:46
  Speaker 4: from my understanding, that's like when you write, you write letters,
• 51:49
  Speaker 4: I guess in today's time, you can actually call. Does
• 51:52
  Speaker 4: that ever? Does that is that worth it? Or you know?
• 51:58
  Speaker 5: Yes? So, but because we're in COVID and we're all
• 52:02
  Speaker 5: the time, they still probably still be having it right you,
• 52:05
  Speaker 5: it's better to call and do a letter if they request.
• 52:09
  Speaker 5: So like a few months ago, my friend had a
• 52:12
  Speaker 5: late payment on his I think it was his Nieman's card.
• 52:15
  Speaker 5: He forgot right, but he had a late payment a
• 52:19
  Speaker 5: year ago. But because of COVID and we want to
• 52:21
  Speaker 5: talk to people and empathize with people that were talking
• 52:24
  Speaker 5: to the lady was so nice and took his late
• 52:27
  Speaker 5: payment off from a year ago. So the call went
• 52:29
  Speaker 5: like this, like, Hi, Susan, Now I acted like him
• 52:34
  Speaker 5: even though I sound like a girl. But you know
• 52:35
  Speaker 5: they can't tell you really are a man on the phone.
• 52:37
  Speaker 5: I mean, please do so I can sue you and
• 52:39
  Speaker 5: you know whatever. So I'm like, hi, I am so,
• 52:41
  Speaker 5: and so let's say, I'm I'm Mark. Are you sure
• 52:44
  Speaker 5: you're Mark? I'm Marked? I'm Mark, ma'am I'm hard. Okay,
• 52:49
  Speaker 5: all right, Mark? How can we help you? Well, Susan,
• 52:52
  Speaker 5: I tell you, this pandemic has really gotten me down.
• 52:56
  Speaker 5: How are you, Susan? At first I want to start there.
• 52:57
  Speaker 5: How are you? How the kids? We don't know they
• 53:01
  Speaker 5: So she's like, oh, I tell you, just being hitting everyone.
• 53:04
  Speaker 5: My son's really impacted. So I sort that one okay
• 53:08
  Speaker 5: now now, Susan, I'm calling because I'm a small business
• 53:11
  Speaker 5: owner and you this is right before they passed the
• 53:14
  Speaker 5: EDI yo, those small business loans and you know I
• 53:17
  Speaker 5: am just waiting on those small business loans to come through.
• 53:21
  Speaker 5: I had to close down, Susan. Can you believe it?
• 53:23
  Speaker 5: And the goal here is to keep saying Susan's name,
• 53:25
  Speaker 5: why because people like to hear their name right. Shot
• 53:29
  Speaker 5: makes you feel good. So, so, Susan, are you experiencing
• 53:34
  Speaker 5: it like that? Anything like that? Well, you're working, Susan,
• 53:37
  Speaker 5: Oh god, it's good. I'm not writing the Lord into it. Yeah,
• 53:41
  Speaker 5: why do you love the Lord? Yeah? So so she's like, well,
• 53:45
  Speaker 5: you know, you know, it's just hard though, because we're
• 53:48
  Speaker 5: hearing and a lot of people are sick. So I'm
• 53:51
  Speaker 5: doing a lot of overtime. Oh my goodness, are the
• 53:53
  Speaker 5: kids working? Well? Like now, this is how we got
• 53:56
  Speaker 5: it removed. And I know y'all probably listening and looking
• 53:58
  Speaker 5: like like what is this girl? But it's a lady
• 54:00
  Speaker 5: the people. So she was like, well, you know, it's
• 54:02
  Speaker 5: it's crazy you say that you're a small business owner
• 54:05
  Speaker 5: because my son's a business owner. What what?
• 54:15
  Speaker 2: What?
• 54:16
  Speaker 5: How's he doing? He's not doing good? You know, I
• 54:20
  Speaker 5: had to send him some money recent This is all
• 54:22
  Speaker 5: true story, This is obit. I said, what, Oh my god,
• 54:25
  Speaker 5: you weren't able to do that because you're doing overtime.
• 54:28
  Speaker 5: She said exactly, But I'm not gonna be able to
• 54:29
  Speaker 5: keep doing it. They got to pass this, so, Susan,
• 54:31
  Speaker 5: that's why I was late. You see what I'm saying, Susan,
• 54:34
  Speaker 5: because I don't have the money coming in right now.
• 54:37
  Speaker 5: And you see that I have a long standing customer
• 54:39
  Speaker 5: with me me. Now he will. You're gonna get your
• 54:40
  Speaker 5: fats right and then and you know, this is how
• 54:43
  Speaker 5: we got the other word moved. And Susan, I tell
• 54:45
  Speaker 5: you because I had a little hardship. Do you see
• 54:47
  Speaker 5: I had a hardship but a year ago on my
• 54:50
  Speaker 5: on my account with you guys, hold on, I do
• 54:54
  Speaker 5: see it. I do see it. You were late a
• 54:56
  Speaker 5: year ago. And Susan, you know, I don't like to
• 54:58
  Speaker 5: be late, but I had a hardship and I don't
• 55:00
  Speaker 5: want to repeat that. And you guys think I'm a
• 55:02
  Speaker 5: bad customer. So Susan, what do I Who do I
• 55:05
  Speaker 5: need to talk to? What do I need to do
• 55:07
  Speaker 5: to get these lates removed? Because Susan, I might have
• 55:10
  Speaker 5: to move. They're going to check my credit and it's
• 55:12
  Speaker 5: and and then I might not and I could be homeless,
• 55:15
  Speaker 5: so they gotta get real exciting. I don't want you homeless. Okay,
• 55:19
  Speaker 5: let me put you on hold. Now that's the sign.
• 55:21
  Speaker 5: Now everybody listen closely. You're never on hold. Repeat that's me.
• 55:24
  Speaker 5: Never on hold?
• 55:26
  Speaker 2: Really? Oh okay, never never on hold. You didn't do it?
• 55:30
  Speaker 4: Hold, So don't say nothing crazy, well.
• 55:35
  Speaker 2: No forgetting that.
• 55:36
  Speaker 5: What I do is I say, guys, going to work
• 55:40
  Speaker 5: it out for me?
• 55:41
  Speaker 2: Like that's the whole that you're doing that on WLD.
• 55:43
  Speaker 5: Yeah, I sang spiritual songs and so.
• 55:45
  Speaker 2: Like when they come back to hear that, you.
• 55:48
  Speaker 5: Might say a night and shue. Now they don't want
• 55:56
  Speaker 5: to keep hearing that, right yo, So it's not sure
• 56:00
  Speaker 5: what I can tell this so light after a while.
• 56:03
  Speaker 5: So anyway they come, you can't come back up sat
• 56:05
  Speaker 5: on the phone.
• 56:06
  Speaker 2: Oh you got a great voice. So you got a
• 56:08
  Speaker 2: great voice?
• 56:09
  Speaker 4: Mark you got Susan?
• 56:13
  Speaker 5: Are you there? Oh? I'm here? So Susan, what did
• 56:16
  Speaker 5: you find out? Do I need to talk to a manager?
• 56:19
  Speaker 5: And this is how you know you're about to get
• 56:21
  Speaker 5: it all right? Well, what I'm gonna do is now
• 56:22
  Speaker 5: the voice gets low. That's how you and then you
• 56:25
  Speaker 5: got to mimic them. So what's going on, Susan. So
• 56:29
  Speaker 5: I'm going to take this late payment off because this
• 56:31
  Speaker 5: is a pandemic. Yes, this a pandemic, Susan. And what
• 56:35
  Speaker 5: I'm going to do is even take that payment a
• 56:37
  Speaker 5: year ago off because if you have to move, we
• 56:40
  Speaker 5: don't want anything stopping you exactly, Susan. Oh my god,
• 56:45
  Speaker 5: I wish I could just hug you, but then you
• 56:46
  Speaker 5: got to do six feet you know what I'm saying, Susan.
• 56:49
  Speaker 5: So so now what do you need me to do? Nothing?
• 56:52
  Speaker 5: When when you're going to get an update from the
• 56:54
  Speaker 5: bureaurooms that says this is going you know, sometimes it's immediate,
• 56:57
  Speaker 5: sometimes it's thirty days. But you're going to see and
• 57:00
  Speaker 5: if you have my fright go and pulls continuously off
• 57:03
  Speaker 5: the next day.
• 57:04
  Speaker 4: So wow, Philly, Philly never Never.
• 57:08
  Speaker 2: I'll tell you you shout shout out at the bullet.
• 57:13
  Speaker 2: Maybe you said Temple, shout out to the bullet Philly.
• 57:15
  Speaker 4: Philly has always got some they need to allow you
• 57:29
  Speaker 4: shore you never took any acting classes, you know, Perry Tyler,
• 57:33
  Speaker 4: Perry might be calling for a role.
• 57:35
  Speaker 5: No, no, I did take some stand up comedy classes
• 57:37
  Speaker 5: for fun. I think I'll get back to that pros pandemic.
• 57:41
  Speaker 5: But no, no, But that's like the thing is all
• 57:44
  Speaker 5: jokes aside. People love people, and this is the best
• 57:47
  Speaker 5: time to be nice to anybody you're calling to ask
• 57:50
  Speaker 5: to do something. They'll tell you what to do because
• 57:53
  Speaker 5: they are people that's probably struggling or two steps from
• 57:56
  Speaker 5: it themselves because of the pandemic.
• 57:57
  Speaker 4: You know what, you said, I was a gym to
• 57:59
  Speaker 4: as far as I learned that. And like sales, people
• 58:01
  Speaker 4: like to hear their names. So when you say somebody's
• 58:04
  Speaker 4: name over and over again and it makes them feel important, Yes,
• 58:09
  Speaker 4: it makes them feel important like, oh, he knows my
• 58:11
  Speaker 4: name and not only does he know my name, like
• 58:13
  Speaker 4: he's saying it to me, like you know what I'm saying.
• 58:16
  Speaker 5: And you heard what I said. I said, I don't
• 58:17
  Speaker 5: have to go to a manager, do I, Susan No,
• 58:20
  Speaker 5: because that's like a thing when people don't want you
• 58:22
  Speaker 5: to go to their manager, I can take care of
• 58:24
  Speaker 5: it makes them, you know, come to your rescue as
• 58:26
  Speaker 5: a hero. And we really knew where she was located.
• 58:30
  Speaker 5: We would like send flowers or something because that was
• 58:32
  Speaker 5: really really nice trying to score jump like way.
• 58:35
  Speaker 4: Up, that's amazing. Yeah, that's a hat. That's the hat.
• 58:41
  Speaker 4: That's that's the hat. So before we before we wrap
• 58:45
  Speaker 4: it up, I want to talk about the branding and
• 58:47
  Speaker 4: the business side of things, but just the general question
• 58:51
  Speaker 4: people that might be struggling, which is paying back their
• 58:54
  Speaker 4: student loan right, like like we talked about like debt
• 58:58
  Speaker 4: message to pay back credit cards, like the snow ball method,
• 59:00
  Speaker 4: is a couple other methods. Yeah, if you're struggling to
• 59:02
  Speaker 4: pay back your student loans, what are some suggestions that
• 59:07
  Speaker 4: you just just general suggestions that people may be able
• 59:10
  Speaker 4: to benefit from if they're struggling to pay back to
• 59:11
  Speaker 4: still low.
• 59:12
  Speaker 5: Well, the income driven plans are the best option because
• 59:15
  Speaker 5: that's why they exist. Especially with the pandemic, a lot
• 59:18
  Speaker 5: of people are going to be leaving out of it
• 59:20
  Speaker 5: on January thirty. First, they need to go in and
• 59:22
  Speaker 5: update you what's called an immediate reclculation of their payment,
• 59:26
  Speaker 5: and they need to be like, listen, if you have
• 59:29
  Speaker 5: no money coming in or little money coming in, and
• 59:31
  Speaker 5: you need to put that on the form. They're not
• 59:32
  Speaker 5: going to ask for your taxes or your pay stuff.
• 59:34
  Speaker 5: They're going to take it at face value so that
• 59:37
  Speaker 5: they can get a zero dollar payment if they need to.
• 59:39
  Speaker 5: So anybody listening to this and will time naturalist areas.
• 59:42
  Speaker 5: But even when they do listen to it, if anything
• 59:45
  Speaker 5: ever changes with your finances, you can definitely immediately go
• 59:49
  Speaker 5: in and do what's called immediate reek ount and then
• 59:52
  Speaker 5: they'll put you into administrative for barans while they review it,
• 59:55
  Speaker 5: and then the payment would be as you know and.
• 59:57
  Speaker 2: That's true for federals, so but for private the best
• 59:59
  Speaker 2: thing is just try to improve your credit scord to.
• 1:00:01
  Speaker 5: Lower private loans. They were told by DeVos to not
• 1:00:06
  Speaker 5: be aggressive and collect after people. You can't control private entities, however,
• 1:00:11
  Speaker 5: so the best thing to do is to keep having
• 1:00:13
  Speaker 5: a conversation. You know, I'm super dramatic. I would even
• 1:00:16
  Speaker 5: tell you the facts and or melon a copy of
• 1:00:18
  Speaker 5: your budget to show that if there is no money available,
• 1:00:23
  Speaker 5: they're not going to be really pursuing lawsuits, probably right
• 1:00:25
  Speaker 5: now at this time either. So if most it could
• 1:00:28
  Speaker 5: hit your credit, but again, you can get it off
• 1:00:30
  Speaker 5: your credit if you need to. I do feel bad
• 1:00:33
  Speaker 5: when I hear and talk to people that have a
• 1:00:35
  Speaker 5: lot of private loan debt. There is a positive note
• 1:00:37
  Speaker 5: that we found this out recently with the young lady
• 1:00:40
  Speaker 5: that moved from New York to Florida. She had private
• 1:00:42
  Speaker 5: loan debt of fifty thousand that had defaulted. Because it defaulted,
• 1:00:45
  Speaker 5: they don't count that towards her deb's income ratio when
• 1:00:48
  Speaker 5: she was going to go by her home. So that
• 1:00:50
  Speaker 5: was good news because she thought that fifty thousand wouldcounts
• 1:00:53
  Speaker 5: towards her overall debt.
• 1:00:56
  Speaker 2: Would affect the credit score, but she got a.
• 1:00:57
  Speaker 5: Credit up even still, and she got to offer credit.
• 1:01:00
  Speaker 4: And then you were saying, like you should have different
• 1:01:01
  Speaker 4: streams of income for different things.
• 1:01:03
  Speaker 5: Oh, yes, yes, So I have about thirteen streams and
• 1:01:06
  Speaker 5: some of them work very actively, some of them are
• 1:01:08
  Speaker 5: very passive. And when my house gets the next month,
• 1:01:11
  Speaker 5: I'll have fourteen prins cars. Now I didn't always think
• 1:01:14
  Speaker 5: like that, but again, I have some really good friends,
• 1:01:16
  Speaker 5: like you know Neam Davis, he's one of my good friends.
• 1:01:19
  Speaker 5: Somebody guys gonna get got to give on this podcast.
• 1:01:21
  Speaker 5: Her name is will Realmtree, you know who.
• 1:01:24
  Speaker 4: We met him in Atlanta.
• 1:01:25
  Speaker 5: Super solid okay, yep, we were doing a massimizm this
• 1:01:30
  Speaker 5: weekend in Houston. Yes, super solid individual. So you can't
• 1:01:34
  Speaker 5: be around people like that and not think about who's
• 1:01:37
  Speaker 5: gonna pay for this? Like somebody somebody's got your money.
• 1:01:40
  Speaker 5: That's what Grand car Done says, who's got my money?
• 1:01:42
  Speaker 4: Right?
• 1:01:43
  Speaker 5: So who has your rent? Who has your car? Who
• 1:01:46
  Speaker 5: has your and whatever it is that you like. People
• 1:01:48
  Speaker 5: don't even know where their money goes. So for me,
• 1:01:51
  Speaker 5: what I think about is like I literally have a
• 1:01:53
  Speaker 5: list at home, like it's gonna say. You know, it
• 1:01:55
  Speaker 5: might say the rent. It might say to this so
• 1:01:58
  Speaker 5: and the next to it. This might sound weird is
• 1:01:59
  Speaker 5: some people and parentheses. I know what stream that's coming from.
• 1:02:03
  Speaker 5: So somebody got my money, and I need to know
• 1:02:06
  Speaker 5: how much each stream has to do each month for
• 1:02:08
  Speaker 5: me to be on par.
• 1:02:09
  Speaker 2: With goals for every liability pun intended.
• 1:02:16
  Speaker 5: But the thing is, are you Are you some teacher?
• 1:02:20
  Speaker 2: Yeah, I'm a teacher. I'm an educator. I like that. Yeah, Yeah,
• 1:02:27
  Speaker 2: I don't work for the school district.
• 1:02:28
  Speaker 5: Okay, all right, got it? Okay, because no teachers. My
• 1:02:34
  Speaker 5: whole family are teachers.
• 1:02:35
  Speaker 2: Okay, shout out to every teaching teaching less.
• 1:02:37
  Speaker 5: Didn't know how I would be teaching.
• 1:02:39
  Speaker 2: Yeah, and that's that's key. So that's why we use
• 1:02:41
  Speaker 2: the word educated and said because when I think teaching,
• 1:02:43
  Speaker 2: most people think, oh, you work in the school. I'm like, no,
• 1:02:45
  Speaker 2: we're still educating, just in a different medium.
• 1:02:48
  Speaker 5: And that's good for business loans to keep going there.
• 1:02:51
  Speaker 4: So how did so branding you? You're being on Instagram,
• 1:02:57
  Speaker 4: You've you've created a brand for yourself. So from a
• 1:03:00
  Speaker 4: marketing business standpoint, how were you able to take from
• 1:03:04
  Speaker 4: doing in coffee shops, one on one consultations to making
• 1:03:08
  Speaker 4: you know, a brand that is all over on global.
• 1:03:11
  Speaker 4: How were you able to make those steps because a
• 1:03:14
  Speaker 4: lot of people might have, you know, talent and doing
• 1:03:16
  Speaker 4: one thing, but they struggled from getting out of that
• 1:03:19
  Speaker 4: coffee shop to church to you know, reaching the level
• 1:03:22
  Speaker 4: that you're at. So how are we to do that?
• 1:03:23
  Speaker 5: So all your side always been a hustler. Like when
• 1:03:26
  Speaker 5: I was little, I was always very wildly interested in
• 1:03:28
  Speaker 5: money and what money could do. Now money for me,
• 1:03:31
  Speaker 5: but I was used to buy can you saygress and jawbreakers,
• 1:03:33
  Speaker 5: so I always wanted money to buy the little stuff.
• 1:03:35
  Speaker 5: I didn't want to ask my mom for right. And
• 1:03:37
  Speaker 5: my mom is a single mom, and she you know,
• 1:03:39
  Speaker 5: had a really nice middle class situation with a gated community.
• 1:03:43
  Speaker 5: Like she tried right, but I knew that she was.
• 1:03:45
  Speaker 5: It was tight. So I was in private school but
• 1:03:47
  Speaker 5: it was tight, and I had to come out of
• 1:03:48
  Speaker 5: private school at one point. I'm like kids are like this,
• 1:03:51
  Speaker 5: And I remember thinking like, mom can't afford to have
• 1:03:54
  Speaker 5: me in private school and more we're in trouble like
• 1:03:56
  Speaker 5: so those things I knew. I was very like aware
• 1:03:58
  Speaker 5: we early on, so I never I wanted to ask
• 1:04:00
  Speaker 5: my mom for money when I was little, so I
• 1:04:02
  Speaker 5: used to do stuff like get a plastic chair with
• 1:04:05
  Speaker 5: a rope and I would get some leaves because I
• 1:04:07
  Speaker 5: didn't want for live billy. I used to think like
• 1:04:08
  Speaker 5: their purposes, and I used to tell people for one dollar,
• 1:04:12
  Speaker 5: but thirty seconds, I'll make a fake ride. And so
• 1:04:15
  Speaker 5: I know that's not weird. But I had my own
• 1:04:16
  Speaker 5: Gover coaster, so that was like my hustle. I don't know.
• 1:04:20
  Speaker 5: I had a lot of hustles growing up, but I
• 1:04:22
  Speaker 5: had that hustle in me. I think because I saw
• 1:04:24
  Speaker 5: how she really had to hustle to make things happens
• 1:04:27
  Speaker 5: for us. My mom got sick when I was sixteen, right,
• 1:04:30
  Speaker 5: and so when she got sick when I was sixteen,
• 1:04:31
  Speaker 5: it's just me and her. I didn't know how much
• 1:04:33
  Speaker 5: I knew about her business. I knew about how to
• 1:04:35
  Speaker 5: use the ATM, how to write checks, and I still
• 1:04:39
  Speaker 5: I did bills at sixteen. I made sure all the
• 1:04:41
  Speaker 5: bills was paid. She was in a coma. She came
• 1:04:43
  Speaker 5: out the coma. She was like she lost her hero
• 1:04:46
  Speaker 5: when she was in a coma. And I'm re writing
• 1:04:48
  Speaker 5: now down She's like, well, bring me my receipt. So
• 1:04:51
  Speaker 5: I showed them my receipt at her receipt and it
• 1:04:53
  Speaker 5: had like ten thousand in her account and she't never
• 1:04:55
  Speaker 5: had no ten thousand account. But again when I spend
• 1:04:57
  Speaker 5: it frivously, right, and she like, no, that's incorrect. I'm like,
• 1:05:00
  Speaker 5: I know, what's why I said no cigarettes, she's supposed
• 1:05:02
  Speaker 5: to rette. I'm like, till you got money here? She's like,
• 1:05:04
  Speaker 5: I said, but I do need a new code, you know,
• 1:05:09
  Speaker 5: let me at back bay. But how do we get here?
• 1:05:12
  Speaker 5: So she like, get a.
• 1:05:14
  Speaker 2: Coke pH l L one.
• 1:05:19
  Speaker 5: I did need going now, I didn't need to get
• 1:05:21
  Speaker 5: a FIR and she told me. I came out hurt bank.
• 1:05:23
  Speaker 5: I didn't go get a credit. I got a trouble.
• 1:05:26
  Speaker 5: So long story short, I know, how do we get here?
• 1:05:31
  Speaker 5: I put a meme out about three years ago that
• 1:05:34
  Speaker 5: said twenty eighteen, that's happened twenty eighteen? I said, first
• 1:05:37
  Speaker 5: African American because there are other people in my field
• 1:05:39
  Speaker 5: that look like me, but they are not companies entities.
• 1:05:42
  Speaker 5: They're like the specialists, if you will. And I knew
• 1:05:44
  Speaker 5: from the beginning I wanted to build a company because
• 1:05:47
  Speaker 5: one I don't really like a lot of engagement with
• 1:05:49
  Speaker 5: people every day all day. I get burned out really easily.
• 1:05:52
  Speaker 5: So I'm like, well, how do I just hire people?
• 1:05:53
  Speaker 5: And then you know, so that's what I created, was
• 1:05:56
  Speaker 5: the student Loan Doctor as a brand, and I put
• 1:05:58
  Speaker 5: it out there. Mada, I gotta shout Neo.
• 1:06:01
  Speaker 4: Out like I probably sho shout out to me.
• 1:06:05
  Speaker 5: And Neo his mom.
• 1:06:06
  Speaker 2: No.
• 1:06:06
  Speaker 5: I ride for him like no other because he get
• 1:06:09
  Speaker 5: a last slack for whatever, but super solid individual and
• 1:06:13
  Speaker 5: always from a place up. Just do this right now.
• 1:06:15
  Speaker 5: He gonna tell you what to do, but you're gonna
• 1:06:16
  Speaker 5: hold your hand so you do gotta be smart enough
• 1:06:18
  Speaker 5: to just go do it right. So, long story short,
• 1:06:21
  Speaker 5: he was like, put this meme out. This is when
• 1:06:23
  Speaker 5: he was trying in his marketing, like early on, and
• 1:06:25
  Speaker 5: it was just a white mean, I was like three
• 1:06:28
  Speaker 5: hundred and twenty pounds at the time, but I didn't care.
• 1:06:30
  Speaker 5: I'm like, you know, and I'm like, I put the
• 1:06:32
  Speaker 5: same out and I'll put it out and I just
• 1:06:34
  Speaker 5: wanted to get a little hit little marketing. Well, next
• 1:06:36
  Speaker 5: thing you know, it started hitting the little blocks and media.
• 1:06:41
  Speaker 5: I'm like, oh, look at this traction firend. God, it
• 1:06:43
  Speaker 5: was coming right up on Black History Month. I remember
• 1:06:46
  Speaker 5: I went to sleep. So I woke up the next
• 1:06:48
  Speaker 5: morning and my phone is going off morning usual on Instagram.
• 1:06:50
  Speaker 5: I'm like, black, I gotta go to the office. Right then,
• 1:06:53
  Speaker 5: I'm driving in my phone ring, I'm like hello, it's
• 1:06:57
  Speaker 5: like a number I didn't know. She's like, Hi, is
• 1:06:59
  Speaker 5: this Sonya? I'm like, uh, who's this? And she's like
• 1:07:04
  Speaker 5: Bisha Maisha from the shad Room. I'm like, no, sure,
• 1:07:08
  Speaker 5: love that. I pulled over and I was like, how
• 1:07:12
  Speaker 5: can I help you? Tell me your story and let's
• 1:07:14
  Speaker 5: let's make it quick.
• 1:07:15
  Speaker 4: Tell me your story, take it quick.
• 1:07:16
  Speaker 5: And she was sweet, but she was very curt and
• 1:07:19
  Speaker 5: and we still connect with each other now. So she listened.
• 1:07:21
  Speaker 5: She'll laugh and she was like. I was like, well,
• 1:07:24
  Speaker 5: so boom boom posted gotta have your pitch ready, never
• 1:07:26
  Speaker 5: know and she said, oh I love it hosting it.
• 1:07:30
  Speaker 5: I said okay, and then a phone hung up. So
• 1:07:34
  Speaker 5: then I called my girlfriend. She's super rad chet Brady,
• 1:07:38
  Speaker 5: I lover. She said. She said, were about to be
• 1:07:41
  Speaker 5: favorite and I'm like wait what, I'm like, what are
• 1:07:44
  Speaker 5: you talking about. She's like, do you follow the shave room?
• 1:07:46
  Speaker 5: I said, not really? She said go to it right now.
• 1:07:48
  Speaker 5: So at the time, I think they had like fourteen
• 1:07:50
  Speaker 5: million followers or something, right, and I was like, I'm
• 1:07:53
  Speaker 5: gonna be here. She's like yeah. She was like, well,
• 1:07:55
  Speaker 5: where's she gonna post it. I was like, I don't know,
• 1:07:58
  Speaker 5: maybe in a few days. She's like, all right, so
• 1:08:00
  Speaker 5: let me let me come over. I'm gonna come meet
• 1:08:02
  Speaker 5: you at the office. So she came to the office
• 1:08:05
  Speaker 5: and I will never forget. We were packing up. It
• 1:08:07
  Speaker 5: was like nine thirty because I worked until ten. And
• 1:08:11
  Speaker 5: next thing you know, I had an iPhone but it
• 1:08:13
  Speaker 5: was all one and it started shaking. No, it like
• 1:08:16
  Speaker 5: in shape, but I think it started ele table and
• 1:08:22
  Speaker 5: I'm like, I'm like, is it about to explode? Because
• 1:08:24
  Speaker 5: it was like and then the fall started ringing, and
• 1:08:28
  Speaker 5: then emails started flooding it and it was like a movie, y'all.
• 1:08:31
  Speaker 5: And then I had got what's the words like? When
• 1:08:35
  Speaker 5: you get yes, I'm like, She's like, are you having
• 1:08:40
  Speaker 5: a stroke? Blink twice I'm like okay, I said, I
• 1:08:44
  Speaker 5: think my life is changing. So literally, she like she
• 1:08:48
  Speaker 5: called up all of our other girlfriends, like, y'all got
• 1:08:50
  Speaker 5: to get to the office right now. It's going down
• 1:08:52
  Speaker 5: the shad room just posted it. So everybody rushed to
• 1:08:56
  Speaker 5: the office. I think I ordered some pizza and we
• 1:08:58
  Speaker 5: were in there like one two, and I remember and
• 1:09:02
  Speaker 5: one night I had a thousand DMS, I had a
• 1:09:04
  Speaker 5: thousand emails and I'm not making a number of like
• 1:09:05
  Speaker 5: a thousand, I remember it. And then we were just
• 1:09:09
  Speaker 5: getting posted. And then the next morning, which was super crazy,
• 1:09:12
  Speaker 5: every radio station and Philly was talking about us, and
• 1:09:15
  Speaker 5: I'm like what and none, you know, and so that
• 1:09:20
  Speaker 5: wave and I when we talked again my SHINAI because
• 1:09:23
  Speaker 5: she posted us twice in twenty eighteen for free. I
• 1:09:25
  Speaker 5: was like, why did you post it? She said Jesus
• 1:09:27
  Speaker 5: told me to. I'm like, well, what.
• 1:09:29
  Speaker 2: Else did Jesus say?
• 1:09:30
  Speaker 5: You know? So I'm really grateful for her because once
• 1:09:33
  Speaker 5: she didn't have to do it, and two that was
• 1:09:36
  Speaker 5: the catalyst to every other blog media source. And then
• 1:09:39
  Speaker 5: you know, I always knew like, if you just give
• 1:09:40
  Speaker 5: me a little opportunity, I'm making it too. But that
• 1:09:43
  Speaker 5: was like that I'll use that a lot of people
• 1:09:45
  Speaker 5: are not ready for. But I did have systems in place.
• 1:09:48
  Speaker 5: I think I had about two employees at the time.
• 1:09:51
  Speaker 5: I did have to do like a hiring boot camp.
• 1:09:52
  Speaker 5: I remember I was hiring every I mean training every
• 1:09:55
  Speaker 5: day for like thirty days after work and after my appointments.
• 1:09:59
  Speaker 5: I was taking it time because I had just made
• 1:10:01
  Speaker 5: the decision to go full time in that business. And
• 1:10:04
  Speaker 5: so then I had to open my calendar from eight
• 1:10:06
  Speaker 5: am to eleven pm because I'm not missing no money.
• 1:10:09
  Speaker 5: I'm gonna be really honest with you, like I needed
• 1:10:11
  Speaker 5: all of that money. And that's really eighteen times eighteen
• 1:10:14
  Speaker 5: is when my life started to change, and that's why
• 1:10:17
  Speaker 5: I started to look at money different, like you can.
• 1:10:20
  Speaker 5: You know, I think I made maybe half of what
• 1:10:23
  Speaker 5: I was making in one month at that point, and
• 1:10:25
  Speaker 5: one month and I'm like they lied to us, Like
• 1:10:28
  Speaker 5: so now I'm starting to get rolled with it, like
• 1:10:31
  Speaker 5: you know, and the money that I make now, I
• 1:10:33
  Speaker 5: really feel like we just got their boozled.
• 1:10:36
  Speaker 2: That's a feeling.
• 1:10:38
  Speaker 4: Neo is he's a champion of that because he was
• 1:10:41
  Speaker 4: doing that for a long time. Like Man retires his mom,
• 1:10:44
  Speaker 4: Man travels to thirty seven countries and his wife, and
• 1:10:47
  Speaker 4: it's like he was doing all these meanings Like man
• 1:10:50
  Speaker 4: just rides a private jet for first time with his
• 1:10:52
  Speaker 4: family life.
• 1:10:52
  Speaker 5: But yeah, sure, it would be up late every night,
• 1:10:56
  Speaker 5: and I love his wife and that would be the
• 1:10:59
  Speaker 5: only person I could he could talk to as a
• 1:11:01
  Speaker 5: woman that late at night. I ain't on no funny
• 1:11:03
  Speaker 5: business you can put. But we're gonna get to this
• 1:11:05
  Speaker 5: money to like sometimes well to like three am. I'm
• 1:11:08
  Speaker 5: like trying this because I had just stuff my job.
• 1:11:11
  Speaker 5: He knew that I didn't play about execute and that's
• 1:11:13
  Speaker 5: what he likes, and he would talk me through and
• 1:11:15
  Speaker 5: I'm like, no, I think you should try this one.
• 1:11:17
  Speaker 5: And then we were just doing it and I'm really
• 1:11:19
  Speaker 5: just so proud of him because it's like that one
• 1:11:21
  Speaker 5: individual I just hope like he has he doesn't operate
• 1:11:24
  Speaker 5: with any fear if that makes sense, Like he's not
• 1:11:26
  Speaker 5: afraid to fail. He'll he'll fail. And then I was great,
• 1:11:30
  Speaker 5: let's do it again, you know. And I had to
• 1:11:32
  Speaker 5: take that and learn that from him because I was
• 1:11:34
  Speaker 5: really scared going into I'm gonna be transferred. I was
• 1:11:37
  Speaker 5: scared to make money because I felt like this was wrong.
• 1:11:42
  Speaker 5: It didn't feel right. That count looked like it's too much.
• 1:11:44
  Speaker 5: I'm explaining this to my mom. I had all these things.
• 1:11:46
  Speaker 2: That was did you have that? Is it real? Feeling
• 1:11:49
  Speaker 2: like is this real?
• 1:11:50
  Speaker 5: Yeah, I didn't think it was because you know, I'm
• 1:11:52
  Speaker 5: used to seeing the number on the other way. Yeah,
• 1:11:56
  Speaker 5: so now even now i'd be like sometimes you know,
• 1:12:01
  Speaker 5: I'm just giving, you know, so even now I make
• 1:12:05
  Speaker 5: a lot of money now, but even now I'm like
• 1:12:08
  Speaker 5: just I'm like, is this a joke? Like you know,
• 1:12:10
  Speaker 5: and so just to be able to move how I
• 1:12:12
  Speaker 5: want to move, travel or like you know, be remoted
• 1:12:14
  Speaker 5: do like that freedom. I can't explain it like it's
• 1:12:18
  Speaker 5: it's it's so humbling, and I really am thankful. There's
• 1:12:20
  Speaker 5: no such thing as having a bad day in my world.
• 1:12:22
  Speaker 5: Like I don't have bad days. I have bad moments
• 1:12:25
  Speaker 5: because I can't have a bad day knowing where I've
• 1:12:27
  Speaker 5: come from. I could look at my account, the day
• 1:12:29
  Speaker 5: got better, like I don't.
• 1:12:30
  Speaker 2: Have And I said, really wait wait, wait, don't let
• 1:12:34
  Speaker 2: that go over your heads.
• 1:12:35
  Speaker 5: Yeah, like you, hey, what bad day? You got money
• 1:12:37
  Speaker 5: coming in? As we sit here, money's coming in, Like
• 1:12:39
  Speaker 5: that's just how it is.
• 1:12:41
  Speaker 2: Wake up your death, Yeah, Like well how.
• 1:12:44
  Speaker 5: You wake up to a bad day with a PayPal alert?
• 1:12:46
  Speaker 5: Like I never seen that, Like what you got going
• 1:12:48
  Speaker 5: on in your life? So and I remember like, I
• 1:12:52
  Speaker 5: don't have bad days. I don't know and know my
• 1:12:55
  Speaker 5: like it up said, do people hurt my feelings? Yes,
• 1:12:57
  Speaker 5: but you don't get that much time from me anymore
• 1:13:00
  Speaker 5: because I can always make more money, but I can't
• 1:13:02
  Speaker 5: make more time. And so even who I deal with,
• 1:13:05
  Speaker 5: who I talk to, who I text, who I hang
• 1:13:07
  Speaker 5: out with, it's all very intentional because these are hours
• 1:13:09
  Speaker 5: I can't ever get back, like and so that helped
• 1:13:12
  Speaker 5: me even with dating it and dealing with people like
• 1:13:16
  Speaker 5: who you're about a thousand dollars an hour.
• 1:13:19
  Speaker 4: Like that, I need to be paid for this.
• 1:13:22
  Speaker 5: I actually somebody had a bad day. I invoiced them
• 1:13:25
  Speaker 5: because I'm respect.
• 1:13:27
  Speaker 4: I don't want to know how that's hard. Invoice. Yeah,
• 1:13:30
  Speaker 4: did you mean to send this to me?
• 1:13:31
  Speaker 5: Yes?
• 1:13:32
  Speaker 4: Absolutely should be at never get paid. Yeah, invoice, send
• 1:13:40
  Speaker 4: the invoice.
• 1:13:41
  Speaker 5: You should say, invoice of the people that we should nonsense,
• 1:13:44
  Speaker 5: you don't even know how much your time calls them
• 1:13:46
  Speaker 5: that it's not what the job pays you. Let me
• 1:13:48
  Speaker 5: be very clear, I was already a million dollar earner
• 1:13:51
  Speaker 5: right before the job, but like so and you are
• 1:13:55
  Speaker 5: at a multi million dollar job right now. Somebody listening
• 1:13:58
  Speaker 5: and they're paying you sixty seventy. No, you are the
• 1:14:01
  Speaker 5: million dollar gifts. Like all jokes aside, like if you
• 1:14:03
  Speaker 5: left if if you're good, let me be clear, if
• 1:14:05
  Speaker 5: you're really good, And I was always really really good.
• 1:14:08
  Speaker 5: No smoke at any job I went to, because I
• 1:14:10
  Speaker 5: was very prideful about any job I had. When I
• 1:14:13
  Speaker 5: left my job, the president of the college, Jim said
• 1:14:16
  Speaker 5: to me, he said, sonya, he said, I tell you,
• 1:14:18
  Speaker 5: when I met you, I knew you were going to
• 1:14:19
  Speaker 5: be one of two things. He's like, you're either going
• 1:14:21
  Speaker 5: to be a college president because I'm an eat well
• 1:14:24
  Speaker 5: a disstation away from a d D, he said. Or
• 1:14:27
  Speaker 5: he said you were going to be a business owner.
• 1:14:29
  Speaker 5: I already knew it. He's like, you just didn't know it.
• 1:14:31
  Speaker 5: Now you think that would make you feel good? Right
• 1:14:33
  Speaker 5: if you heard that? I was living because the joke
• 1:14:37
  Speaker 5: was on me.
• 1:14:38
  Speaker 2: You do that all this time, and you let me
• 1:14:39
  Speaker 2: work this up.
• 1:14:40
  Speaker 4: Could be doing it?
• 1:14:41
  Speaker 5: Yeah, ain't that crazy? And somebody's thinking about your.
• 1:14:45
  Speaker 2: Other It's like they see the talent.
• 1:14:48
  Speaker 4: So so where we at now talk about I want
• 1:14:51
  Speaker 4: you to tell him about the because you're not You're
• 1:14:53
  Speaker 4: not doing one on one consultations anymore. Like you duplicate yourself.
• 1:14:56
  Speaker 5: And you yeah, no, it's really hard to get me
• 1:14:58
  Speaker 5: on the phone. And I said that would love because
• 1:15:01
  Speaker 5: I do a lot of Instagram conversations. We're now doing
• 1:15:04
  Speaker 5: a lot of clubhouses. Our clubhouse has been rocculately. It's
• 1:15:07
  Speaker 5: been fun. I know you on clubhouse. I've been to
• 1:15:10
  Speaker 5: him in the morning dressed like but.
• 1:15:17
  Speaker 2: Wait, wait you said you called him in the morning.
• 1:15:19
  Speaker 5: No, clubhouse. He's on every clubhouse. I feel like.
• 1:15:25
  Speaker 2: He's at midnight marauder a.
• 1:15:28
  Speaker 4: Boring and uh, you know, say some word to the
• 1:15:30
  Speaker 4: good people.
• 1:15:31
  Speaker 5: No, but you know what, I gotta say this, I
• 1:15:32
  Speaker 5: love it. I love it, he says. So I want
• 1:15:35
  Speaker 5: to wait he actually not little cells in you too?
• 1:15:39
  Speaker 2: A little bit, A little bit?
• 1:15:41
  Speaker 5: I want all right? Should I just gotta do this?
• 1:15:43
  Speaker 5: Wo man? So he reminds me of like like an
• 1:15:47
  Speaker 5: innocent intern that just started, right, So what do you so?
• 1:15:51
  Speaker 5: What you're saying? So and so this is persons making
• 1:15:53
  Speaker 5: like three hundred three hundred, let's tay thousand a month
• 1:15:57
  Speaker 5: or something. Oh, I've got to do it's boom boom.
• 1:16:00
  Speaker 5: You just won that back any time, he says, kee
• 1:16:03
  Speaker 5: waning back. Whatever I'm at and go get a piece
• 1:16:05
  Speaker 5: of paper, because I know he caught it. I should
• 1:16:07
  Speaker 5: be catching it back. Now I can listen to him passively.
• 1:16:10
  Speaker 5: I'm like, that's why, Shay, you go a little further.
• 1:16:12
  Speaker 2: Yeah, he pushing the question. Yeah, you gott to push
• 1:16:14
  Speaker 2: the button.
• 1:16:15
  Speaker 5: What you do in the clubhouse, I've learned to life.
• 1:16:20
  Speaker 5: I really do go to the rooms that he's in
• 1:16:22
  Speaker 5: because if I feel like learning, I feel like I
• 1:16:24
  Speaker 5: should go to his rooms because I know he's up
• 1:16:26
  Speaker 5: there as a moderator or a person. So I want
• 1:16:28
  Speaker 5: to bring that back. That's a great point.
• 1:16:32
  Speaker 2: What you're saying is, Yo, this is this is talent.
• 1:16:35
  Speaker 2: This is real talent.
• 1:16:37
  Speaker 5: I'd be like, yeah, I be wanting to text him
• 1:16:39
  Speaker 5: like you while you're up on that stage, right, Yeah,
• 1:16:46
  Speaker 5: And so I just quick, how do you about these?
• 1:16:48
  Speaker 5: How do you like it? Now?
• 1:16:49
  Speaker 4: You know what? I think that I think it's beneficial,
• 1:16:52
  Speaker 4: but I think that it could potentially water things down
• 1:16:57
  Speaker 4: because it's so it's like not stop like and I
• 1:17:01
  Speaker 4: think it's like it's so new, it's like it's like
• 1:17:03
  Speaker 4: a drug like people's own it like forty eight hours straight,
• 1:17:06
  Speaker 4: and it could potentially I think water things down because
• 1:17:12
  Speaker 4: like whenever it's just too much, it kind of devalues
• 1:17:15
  Speaker 4: the level of information. That's that's just my own personal
• 1:17:18
  Speaker 4: take on it. But I do feel like it has
• 1:17:19
  Speaker 4: good characteristics. But I feel like sometimes it's like a competition,
• 1:17:23
  Speaker 4: like who knows more, and it's just like everybody is
• 1:17:27
  Speaker 4: yeah exactly, everybody's trying to prove that the smartest person
• 1:17:29
  Speaker 4: in the room.
• 1:17:30
  Speaker 5: The receipts from a screenshot you can get off a
• 1:17:31
  Speaker 5: Google Yeah exactly exactly, everybody ptr and show your receipts
• 1:17:36
  Speaker 5: and or anyway, I'm.
• 1:17:39
  Speaker 2: Like, who did that? But who did that?
• 1:17:44
  Speaker 4: Have you on the cap, you on the TV?
• 1:17:46
  Speaker 5: You know.
• 1:17:50
  Speaker 2: That's the screenshot, that's that's the stream number eleven probately investigating.
• 1:17:54
  Speaker 5: It should be one.
• 1:17:56
  Speaker 4: How do you feel about it?
• 1:17:58
  Speaker 5: You know, I really enjoy it for the pub acknowledge
• 1:18:00
  Speaker 5: that it's given. I do think it makes it for
• 1:18:03
  Speaker 5: I feel like for mental health purposes. I do think
• 1:18:06
  Speaker 5: it's really good for the pandemic because it brings people talking. Again,
• 1:18:09
  Speaker 5: it's different than Instagram where we're writing, but to hear
• 1:18:11
  Speaker 5: somebody's voice, you don't know what somebody the other line
• 1:18:14
  Speaker 5: could be going through. And so by that one gym
• 1:18:17
  Speaker 5: being shared, you can get them really excited about their
• 1:18:20
  Speaker 5: project that they were putting on. We're doing before COVID,
• 1:18:23
  Speaker 5: So I beliel like it is helping a lot of people.
• 1:18:26
  Speaker 5: I do think there are a lot of gurus that
• 1:18:28
  Speaker 5: I don't really know if they're gurus or not. You know,
• 1:18:31
  Speaker 5: that's their business. So sometimes I get worried about the
• 1:18:33
  Speaker 5: information that shared. And then the other thing is there
• 1:18:37
  Speaker 5: was a conversation I think you were a part of
• 1:18:38
  Speaker 5: it where people were talking about how they're going to
• 1:18:40
  Speaker 5: start to monetize that, and I think that's the problem
• 1:18:42
  Speaker 5: sometimes with our society, everybody trying to make a dollar
• 1:18:46
  Speaker 5: out of nothing. Sometimes like can it just be a
• 1:18:48
  Speaker 5: genuine app where you know, maybe if people want to
• 1:18:51
  Speaker 5: tip or share, But why does everything have to be monetized?
• 1:18:55
  Speaker 5: Like every little thing has to be and then it
• 1:18:57
  Speaker 5: just takes away from the fun of connecting and building
• 1:19:00
  Speaker 5: that makes sense.
• 1:19:00
  Speaker 4: Yeah, Yeah, it's one of those things, like you said,
• 1:19:03
  Speaker 4: it's like the the core rooms back in like the
• 1:19:06
  Speaker 4: nineties when it's like the hot line like party line.
• 1:19:09
  Speaker 2: Yeah business that was different number.
• 1:19:14
  Speaker 4: But yeah, the clubhouses it's cool because it's like you
• 1:19:16
  Speaker 4: going in, it's like it could be Meek Millen. That's
• 1:19:19
  Speaker 4: what I like about it. I was in a room
• 1:19:20
  Speaker 4: with Meek and Swiss and to even be able to,
• 1:19:24
  Speaker 4: you know, have somewhat of a conversation with those people
• 1:19:26
  Speaker 4: just randomly. It is different than any other social media experience.
• 1:19:31
  Speaker 4: So there is value in it for sure.
• 1:19:33
  Speaker 5: All Right, but hold on, y'all, that is interesting. Your
• 1:19:35
  Speaker 5: favorite celebrities like my favorite celebrities. Wild I'm not going
• 1:19:38
  Speaker 5: to hold you if you told me he was there
• 1:19:40
  Speaker 5: on the street. We wrapped this up, like I love him,
• 1:19:43
  Speaker 5: But I was in his room and I was in
• 1:19:45
  Speaker 5: there for like four hours, way too long, just listening
• 1:19:47
  Speaker 5: to him talk. I learned a lot about him. I
• 1:19:49
  Speaker 5: was making different opinions about him. So I think it's
• 1:19:52
  Speaker 5: either one that helped me really like more people or
• 1:19:54
  Speaker 5: dis like that because their personalities. It is what it is.
• 1:19:57
  Speaker 4: A home on account, you know what you get to
• 1:19:58
  Speaker 4: fit like even on social media Instagram, you don't really
• 1:20:01
  Speaker 4: feel like you know a person. Why don't hear them?
• 1:20:03
  Speaker 4: Like when I hear Meek mill speak, I know he's
• 1:20:06
  Speaker 4: interested in business because I could hear it in him,
• 1:20:08
  Speaker 4: like you know what I'm saying. I could hear him
• 1:20:09
  Speaker 4: asking questions and it's like you actually feel like you're
• 1:20:12
  Speaker 4: on the phone with like you know what I'm saying.
• 1:20:14
  Speaker 4: So it's interesting. It's interesting. I think they just gotta
• 1:20:17
  Speaker 4: you know, they It's like all things, you just gotta
• 1:20:19
  Speaker 4: just make it a little bit more, you know what
• 1:20:21
  Speaker 4: I'm saying.
• 1:20:22
  Speaker 5: For you guys in terms of the guests you want
• 1:20:23
  Speaker 5: to get, that's an easy like lay up.
• 1:20:26
  Speaker 4: Yeah, it's a great it's a great networking. It's great
• 1:20:27
  Speaker 4: networking too. Every time I go in there, I learned
• 1:20:30
  Speaker 4: some different things from different people. Shout out to Doug
• 1:20:32
  Speaker 4: Out and Dug Out in Philly too.
• 1:20:33
  Speaker 5: Oh Doug.
• 1:20:34
  Speaker 4: Yeah, I learned some stuff from him, Like he said
• 1:20:37
  Speaker 4: some stuff that I didn't know. So I mean it
• 1:20:40
  Speaker 4: is good to go on there and you can gain
• 1:20:43
  Speaker 4: some information for sure.
• 1:20:44
  Speaker 5: Yeah, Doug made me upgrade my Tesla. So I brought
• 1:20:47
  Speaker 5: my Tesla first and I showed Doug. So then Doug
• 1:20:49
  Speaker 5: upgraded his Tesla to the self drive. So all about
• 1:20:52
  Speaker 5: process self driving and self drive in the city.
• 1:20:54
  Speaker 4: You got a self driving Tesla? Yeah, how does that work? Oh?
• 1:21:01
  Speaker 4: You could use it now and wherever everywhere.
• 1:21:05
  Speaker 5: Yeah, So how it works is it is still a
• 1:21:07
  Speaker 5: little robotic, so so Doug and Neo and I was
• 1:21:10
  Speaker 5: just like little kids. We went to the parking lot
• 1:21:12
  Speaker 5: of Target one night and literally we were in the
• 1:21:14
  Speaker 5: car and he made on his app the car drive
• 1:21:17
  Speaker 5: to him. So Neo and I in the back tripping.
• 1:21:20
  Speaker 2: I was like to come pick him up.
• 1:21:21
  Speaker 5: Yeah, to come pick him.
• 1:21:22
  Speaker 4: Up, Like, well, can you do it while you're in
• 1:21:24
  Speaker 4: the car, Oh.
• 1:21:25
  Speaker 5: Yeah, yeah yeah. But he wanted to show us the
• 1:21:27
  Speaker 5: feature that allows you to have the car drive out
• 1:21:30
  Speaker 5: of the parking spot to you at the front store.
• 1:21:33
  Speaker 4: So you can go on the street right now and
• 1:21:35
  Speaker 4: drive and not drive.
• 1:21:36
  Speaker 5: It's called some in your car and.
• 1:21:38
  Speaker 4: You can have it like drive you to the grocery store.
• 1:21:40
  Speaker 4: Oh oh oh street legal and street legal now to
• 1:21:43
  Speaker 4: do that.
• 1:21:44
  Speaker 5: It is, but but it has to have it has
• 1:21:46
  Speaker 5: to have you touch it every thirty seconds, so you
• 1:21:48
  Speaker 5: can't just be hands off.
• 1:21:49
  Speaker 2: You can't fall asleep.
• 1:21:51
  Speaker 5: No, no, you could before they made the update.
• 1:21:54
  Speaker 4: So it's like cruise control kind of.
• 1:21:55
  Speaker 5: But in the city, if you put the GPS on,
• 1:21:58
  Speaker 5: Let's say I want to go to Target. If I'm home,
• 1:22:00
  Speaker 5: targets five miles, the car will go in this direction.
• 1:22:03
  Speaker 5: It will stop at stop times. In order to go,
• 1:22:06
  Speaker 5: you do have to push the gas and then they
• 1:22:07
  Speaker 5: will go again on its own. It'll make the right
• 1:22:09
  Speaker 5: on its own. It's which is laying on its own.
• 1:22:12
  Speaker 5: And the car is actually a better driver than me.
• 1:22:15
  Speaker 5: Like I am a Philly driver, so I'm like, oh
• 1:22:17
  Speaker 5: that's my exit the car yo. The car put me
• 1:22:21
  Speaker 5: back in the lane and like, and I missed my
• 1:22:25
  Speaker 5: exit because I didn't tell the car we were getting
• 1:22:27
  Speaker 5: over with the turn signal. Now I was pissed, but
• 1:22:31
  Speaker 5: I was happy because that's how you avoid collision. I
• 1:22:35
  Speaker 5: feel like I was good though.
• 1:22:36
  Speaker 4: You know the cars, that's crazy.
• 1:22:38
  Speaker 5: You do if you give you driven the Tesla yet Nah,
• 1:22:42
  Speaker 5: So all you do is you go put it online,
• 1:22:44
  Speaker 5: put you one hundred dollars do and depending on your dealership,
• 1:22:47
  Speaker 5: they'll let you hold it for the weekend.
• 1:22:49
  Speaker 2: Yes, they're putting one out here like right, neighborhood go
• 1:22:53
  Speaker 2: for you.
• 1:22:53
  Speaker 5: Get your car for the weekend. I'm telling you you're
• 1:22:55
  Speaker 5: never going to go back to like a regular car
• 1:22:58
  Speaker 5: because you know, you you park up, you could just
• 1:23:00
  Speaker 5: watch you Netflix and the screen is crazy. They're want
• 1:23:03
  Speaker 5: to integrate zooming it really soon. So you could take
• 1:23:05
  Speaker 5: your calls the car is so quiet that I can
• 1:23:08
  Speaker 5: do business calls from the car because it don't sound
• 1:23:09
  Speaker 5: like you're in a car, if that makes sense. My
• 1:23:12
  Speaker 5: dog really enjoys it is. He seats in the bag
• 1:23:14
  Speaker 5: as well, like it is really fun. No, I have
• 1:23:18
  Speaker 5: a three, so I have a three long range. The
• 1:23:20
  Speaker 5: three is super sporty. A tracks men like no other.
• 1:23:23
  Speaker 5: I wasn't that wasn't the purpose of it. Like when
• 1:23:26
  Speaker 5: I first got the car, men like grown men was
• 1:23:29
  Speaker 5: pulling up to the car like I thought the boy
• 1:23:31
  Speaker 5: was gonna come in the window. He was like, he's like,
• 1:23:36
  Speaker 5: you like that car. I was like, I do. I do?
• 1:23:39
  Speaker 5: Now I am licensed, so I don't know what it's about.
• 1:23:41
  Speaker 2: To you.
• 1:23:45
  Speaker 5: And just back up a bit.
• 1:23:47
  Speaker 4: COVID please please, And he said, oh, I'm sorry.
• 1:23:51
  Speaker 5: So I'm just so excited. I wish I knew you
• 1:23:53
  Speaker 5: soth like man man, let me take you out to dinner.
• 1:23:55
  Speaker 5: And I'm like, I'm like, did you just ask to
• 1:23:57
  Speaker 5: know me?
• 1:23:58
  Speaker 2: I wis on it.
• 1:24:00
  Speaker 5: I am like a little boil the inside. And I
• 1:24:03
  Speaker 5: like to race people on Broad Street, especially because the
• 1:24:05
  Speaker 5: COVID is not on trainsic. Yeah, so long story short,
• 1:24:09
  Speaker 5: this guy had a what's the fast ones? It my say, Camaro,
• 1:24:11
  Speaker 5: which one's the fast one?
• 1:24:13
  Speaker 2: Uh, Camara, It depends, depends.
• 1:24:18
  Speaker 5: Let's take Camara, right. So he had a Camaro. This
• 1:24:21
  Speaker 5: is like the height of COVID is nobody outside, and
• 1:24:23
  Speaker 5: I really just wanted to air this car. I just
• 1:24:25
  Speaker 5: wanted to drive it. So I seen him and I'm like,
• 1:24:29
  Speaker 5: he's going to be my little big So I had
• 1:24:30
  Speaker 5: to act all cute like sound was slow and then
• 1:24:34
  Speaker 5: it has a sixty second celebration without the upgrade two
• 1:24:38
  Speaker 5: point now was upgrade two point seven and sixty seconds
• 1:24:42
  Speaker 5: and I was off like four lights. It feel like
• 1:24:44
  Speaker 5: a roller yo. When I tell you, he ran life
• 1:24:49
  Speaker 5: just to catch up. And this again, we're in Philly,
• 1:24:52
  Speaker 5: so we don't know how this could go. Luck me,
• 1:24:53
  Speaker 5: I'm cute because he was like if you wasn't cute,
• 1:24:55
  Speaker 5: yos room everything, what's your number y'all? And I'm like, no, no,
• 1:24:59
  Speaker 5: I just want to race. It was fun. I digress.
• 1:25:02
  Speaker 5: There's nothing to do with anything we talked about, although
• 1:25:05
  Speaker 5: I just oh, but let me do it. Let me
• 1:25:06
  Speaker 5: bring it back. Financial for you guys, I was an
• 1:25:09
  Speaker 5: early investor of Tesla because on my manifestation board for
• 1:25:13
  Speaker 5: over five years.
• 1:25:14
  Speaker 4: How early five years ago.
• 1:25:16
  Speaker 5: I had to start buying Tesla stock.
• 1:25:18
  Speaker 2: Are you good? Yeah? You held it, numbers still got it. Yeah,
• 1:25:22
  Speaker 2: Because my.
• 1:25:22
  Speaker 5: Thing is I always wanted to own Tesla before I
• 1:25:25
  Speaker 5: owned the Tesla, and so when I brought my Tesla
• 1:25:28
  Speaker 5: this year, I felt really good about it because I
• 1:25:30
  Speaker 5: was already involved. I already knew what updates was coming
• 1:25:34
  Speaker 5: the company. Yeah, I wanted you want to buy the
• 1:25:36
  Speaker 5: Tesla in my opinion, coming out of the pandemic, because
• 1:25:40
  Speaker 5: why they're not selling them. I got myns right when
• 1:25:42
  Speaker 5: the dealership opened back up, and they were so happy
• 1:25:45
  Speaker 5: to see me because hey, they haven't been selling any cars.
• 1:25:49
  Speaker 5: And not to be funny, the Tesla buying experience, that's
• 1:25:51
  Speaker 5: how you know things could be better, was ten minutes. Y'all,
• 1:25:55
  Speaker 5: go online, do your app credit, pool my credit straight boom,
• 1:26:00
  Speaker 5: Hi missus, congratulations, you want to come tomorrow morning pick
• 1:26:02
  Speaker 5: up the car? A matter of fact, just go ahead,
• 1:26:05
  Speaker 5: accept your terms. No paperworkers need to hit the dealership
• 1:26:07
  Speaker 5: with Just ask for your ID. We'll do a virtual
• 1:26:10
  Speaker 5: walk through when you get here, all right, see soon,
• 1:26:12
  Speaker 5: So I get there. Oh yeah, he was with me.
• 1:26:14
  Speaker 5: My friend was with me. Right, and me and my
• 1:26:16
  Speaker 5: mom and him, we pull up, we'll know what's happening.
• 1:26:18
  Speaker 5: They're on the inside of the glass, the cars parked out,
• 1:26:21
  Speaker 5: shiny clean, ready to go, charged up. They're like, okay,
• 1:26:24
  Speaker 5: what you're gonna do? Because of COVID, they will virtually
• 1:26:26
  Speaker 5: walk me through and then you just pull off. I
• 1:26:29
  Speaker 5: still feel like I.
• 1:26:31
  Speaker 2: Stole the car, Like it would have been crazy if
• 1:26:35
  Speaker 2: they just asked you for your address and like, yeah,
• 1:26:37
  Speaker 2: were gonna send it to you in the morning.
• 1:26:38
  Speaker 5: Well they could drop it off if you had that
• 1:26:40
  Speaker 5: want to go to the dealership to take a picture.
• 1:26:42
  Speaker 4: Okay, you got to you gotta get a deal, Yes, spokesman,
• 1:26:45
  Speaker 4: that was a hell of a pitch. That was a
• 1:26:47
  Speaker 4: hell of a pitch for Tesla. Tesla for sure. So
• 1:26:50
  Speaker 4: let's talk about Let's end it with your e book. Yes,
• 1:26:52
  Speaker 4: talk about the e book if you if you may.
• 1:26:54
  Speaker 5: Yeah. So it's about fifty pages long. It's a day
• 1:26:57
  Speaker 5: by day journey. So it's a thirty one day guy
• 1:26:59
  Speaker 5: to take calling your stud loons or slaying your student
• 1:27:01
  Speaker 5: loans is the term. So day one, day two, and
• 1:27:04
  Speaker 5: I wrote the book from the perspective of someone who
• 1:27:06
  Speaker 5: never ever looked at their student loans. The meat is
• 1:27:09
  Speaker 5: in the middle when it talks about home buying. I
• 1:27:11
  Speaker 5: put a lot of loan forgiveness programs in their state
• 1:27:14
  Speaker 5: loan forgetting his programs in there. I put in information
• 1:27:17
  Speaker 5: there about you know, I include something about getting the
• 1:27:20
  Speaker 5: additional streams of income, just because I wanted people to
• 1:27:22
  Speaker 5: think about how they can also start to pay down
• 1:27:24
  Speaker 5: their student loan debt. But what I do with the
• 1:27:26
  Speaker 5: e book that's really different than I feel like a
• 1:27:28
  Speaker 5: lot of ebooks is I commit to doing bi weekly
• 1:27:32
  Speaker 5: free calls. So if you buy the e book and
• 1:27:34
  Speaker 5: the confirmation email, it's clickare for additional classes and resources.
• 1:27:38
  Speaker 5: I just keep doing free calls on different topics, anything
• 1:27:41
  Speaker 5: that's related to student loan debt, because I want people
• 1:27:43
  Speaker 5: to be tapped in and tuned in and for refro.
• 1:27:46
  Speaker 5: It's like, I'll make a deal with you. This ebook
• 1:27:48
  Speaker 5: is what twenty nine ninety nine you can continually give
• 1:27:51
  Speaker 5: free game in a zoom environment. We could take up
• 1:27:54
  Speaker 5: to a thousand people in the zoom If I need
• 1:27:56
  Speaker 5: to expand it, I would, but we didn't hit over
• 1:27:58
  Speaker 5: a thousand, and I just keep doing classes and you
• 1:28:01
  Speaker 5: can see people really have like eye opening moments. Eight
• 1:28:05
  Speaker 5: people so far in counting have gotten their loans one
• 1:28:08
  Speaker 5: hundred percent forgiving through the TPD program, the Total Permanent
• 1:28:13
  Speaker 5: Disability Program. Some people have had disabilities that are physical,
• 1:28:16
  Speaker 5: like you can see, that's preventing them from working. Some
• 1:28:19
  Speaker 5: disabilities like loopis we didn't even probably think about, right,
• 1:28:22
  Speaker 5: I have LOOPIS, but lupis doesn't have me. Some it's
• 1:28:25
  Speaker 5: called remission, so I don't take medicine X, Y and Z.
• 1:28:27
  Speaker 5: But there are some people that are really struggling with
• 1:28:30
  Speaker 5: loops right now, right, so that would be a call
• 1:28:33
  Speaker 5: to get your loans forgiven. So the clause is if
• 1:28:36
  Speaker 5: it's anything that's impacting you from have continuous and steady work.
• 1:28:39
  Speaker 4: Yeah, that's all right, And we're gonna put the link
• 1:28:42
  Speaker 4: in our bio of this. If you're watching this on YouTube,
• 1:28:45
  Speaker 4: and if you're listening on Apple or Spotify, we'll put
• 1:28:47
  Speaker 4: the link. We also put the link on our website
• 1:28:49
  Speaker 4: under the alumni tab. So, yeah, twenty nine dollars. If
• 1:28:51
  Speaker 4: you have student loans, you obviously definitely should get it.
• 1:28:54
  Speaker 4: And if you have a child, or if you have
• 1:28:57
  Speaker 4: you know, a niece or nephew, anybody that's going to college.
• 1:29:01
  Speaker 4: You should educate yourself beforehand, be prepared before. And too
• 1:29:04
  Speaker 4: many times in our culture we prepare ourselves after something's happened.
• 1:29:08
  Speaker 4: We're reactionary instead of being proactive. So you got to
• 1:29:11
  Speaker 4: be proactive. You got to be prepare yourself beforehand. So
• 1:29:15
  Speaker 4: once again, thank you, thank you for joining us.
• 1:29:18
  Speaker 5: Thank you guys.
• 1:29:19
  Speaker 4: Yeah, it's a pleasure real quick.
• 1:29:21
  Speaker 2: And you spoke about the long forgiveness. I just want
• 1:29:23
  Speaker 2: to add for all teachers, just another little little tidbit
• 1:29:26
  Speaker 2: like our hack. And so we said that if you
• 1:29:29
  Speaker 2: apply for it and you work in a Title one
• 1:29:31
  Speaker 2: school and I'm only speaking this because this has actually
• 1:29:34
  Speaker 2: happened to me, they usually give you seventeen five or
• 1:29:38
  Speaker 2: five thousand, dependent on what you're teaching. The seventeen five
• 1:29:41
  Speaker 2: will go to mathematics and science. However, I argued with
• 1:29:44
  Speaker 2: my principle that I will teaching health at the time.
• 1:29:46
  Speaker 2: Health is a science, and so I was able as
• 1:29:48
  Speaker 2: a physic teacher and a health teacher to get seventeen
• 1:29:51
  Speaker 2: five old. So that's another one. That's right, that's right.
• 1:29:54
  Speaker 2: So we got to seventeen five, So that's good to know. So,
• 1:29:56
  Speaker 2: like sometimes people don't want to work in environments where
• 1:29:59
  Speaker 2: they title one school, which makes no sense because any
• 1:30:01
  Speaker 2: environment could be a tile one school. Yeah, they're all
• 1:30:04
  Speaker 2: tied to one schools. You worked there five years, eighteen
• 1:30:06
  Speaker 2: thousand dollars off your still loan.
• 1:30:08
  Speaker 5: And it can be five years across.
• 1:30:09
  Speaker 2: The board, across the board. Yeah, yeah, oh ahead, Yeah
• 1:30:12
  Speaker 2: you have it.
• 1:30:14
  Speaker 4: And then how did you enjoy teaching at Yo University?
• 1:30:17
  Speaker 5: Oh? Your classes, your students all do, I had said
• 1:30:21
  Speaker 5: EYL on Live last night. So I have to go
• 1:30:24
  Speaker 5: down and they're like, oh, I'm a member, I'm a member,
• 1:30:28
  Speaker 5: And so I think that's so dope because I like
• 1:30:30
  Speaker 5: that people are investing themselves. Don't you think it's like
• 1:30:32
  Speaker 5: the best time to be a young black person getting educated.
• 1:30:37
  Speaker 5: That's why I said, if it don't in the poverty
• 1:30:40
  Speaker 5: mindset or the check to check myndset, if it don't
• 1:30:42
  Speaker 5: end with this generation that I don't know which generation
• 1:30:44
  Speaker 5: it would end with. It has to be us because
• 1:30:47
  Speaker 5: you have an EYL, you have your I think it's like,
• 1:30:50
  Speaker 5: I don't tell me for I'm wrong. I feel like
• 1:30:52
  Speaker 5: the influencers, particularly in this space, in my opinion, have
• 1:30:56
  Speaker 5: a little more foult than some celebrities.
• 1:30:58
  Speaker 4: There are a lot of celebrities, right. Financial literacy is
• 1:31:01
  Speaker 4: the new rap.
• 1:31:03
  Speaker 5: It's funny when you look up how much your favorite
• 1:31:06
  Speaker 5: Clevely makes in a month. Yeah, I make more.
• 1:31:09
  Speaker 4: No, I definitely make more.
• 1:31:10
  Speaker 5: Yeah. So I don't know be my favorite, like I mean,
• 1:31:14
  Speaker 5: I just I like I see it at the vent
• 1:31:16
  Speaker 5: or something like. And that's the other thing we don't.
• 1:31:17
  Speaker 5: We don't want to idolize. I had learned that God
• 1:31:20
  Speaker 5: gave me a really hard lesson. I know, were wrapping
• 1:31:22
  Speaker 5: it up, but there was somebody I can't say his
• 1:31:24
  Speaker 5: name who I really admire, a one in the in
• 1:31:26
  Speaker 5: the financial industry, I'll tell y'all offline. And I had
• 1:31:29
  Speaker 5: paid this five thousand dollars ticket to be in his
• 1:31:31
  Speaker 5: VIP and and I was in Money magazine right behind
• 1:31:35
  Speaker 5: his cover, and I was excited to tell him I
• 1:31:38
  Speaker 5: knew his whole team. And he was so rude. And
• 1:31:42
  Speaker 5: that's and God told me a hard lesson. I mean,
• 1:31:44
  Speaker 5: like I cried, I'm not even really funny because I
• 1:31:46
  Speaker 5: really idolized him, right, But God said, don't idalyize me
• 1:31:49
  Speaker 5: and illize me. Right. So when I when I did
• 1:31:51
  Speaker 5: that happen to me, I'm like, I'm going to talk
• 1:31:53
  Speaker 5: next to him one day with CNN the hell like,
• 1:31:56
  Speaker 5: so I can't even I don't even have I'm not
• 1:31:59
  Speaker 5: like le fans of anybody anymore because we're all just
• 1:32:01
  Speaker 5: one connection away from somebody that we are idolized. I
• 1:32:04
  Speaker 5: can respect their craft, but I can't be like, oh,
• 1:32:07
  Speaker 5: that's so and so you know my joke is, you know,
• 1:32:09
  Speaker 5: we having lunch from Oprah soon, you know.
• 1:32:11
  Speaker 4: So that's that's how I that's a fact.
• 1:32:15
  Speaker 2: We got that saying about jay Z. We're gonna keep
• 1:32:17
  Speaker 2: saying this until he sits next to us. So yeah,
• 1:32:20
  Speaker 2: so definitely on in trajectory like our chances.
• 1:32:25
  Speaker 4: But I thank you for doing that class that was doping,
• 1:32:27
  Speaker 4: like I said, just to get the question and answers
• 1:32:29
  Speaker 4: part of it, and you know it's all experienced. So
• 1:32:31
  Speaker 4: thank you for joining us, and thank you for doing
• 1:32:33
  Speaker 4: EL University. I'm sure we'll be doing a bunch of
• 1:32:35
  Speaker 4: other stuff in the future. Troy housekeeping items.
• 1:32:38
  Speaker 2: Yeah, shout out to everybody on patreon dot com. I'll
• 1:32:40
  Speaker 2: probably pay program y'all know that Tier five members, y'all
• 1:32:43
  Speaker 2: get access to a beautiful university that we were just
• 1:32:46
  Speaker 2: speaking of. EL University is the number one number one
• 1:32:50
  Speaker 2: business school and entrepreneurial school in the entire world. So
• 1:32:52
  Speaker 2: we get shout out to all our earners that have
• 1:32:54
  Speaker 2: been a part of that, and shout everybody that's supporting
• 1:32:56
  Speaker 2: to merch the ey l merch. It's moving. Man out
• 1:33:00
  Speaker 2: to everybody that has gotten our varsity jacket or the
• 1:33:03
  Speaker 2: assets of a liabilities or the scullies. We greatly appreciate it.
• 1:33:07
  Speaker 2: Make sure y'all y'all take pictures in it, tag us
• 1:33:09
  Speaker 2: in it so we can post y'all.
• 1:33:11
  Speaker 4: Yeah, sure, So, thank you guys for rocking with us.
• 1:33:14
  Speaker 4: Don't forget to subscribe, hit the like button, leave a comment, review,
• 1:33:18
  Speaker 4: and we will see you guys next week. Peace.
• 1:33:21
  Speaker 3: Peace my graduates from my school being forced back.
• 1:33:27
  Speaker 4: Drop bag drop Mike, drop back drop.
• 1:33:42
  Speaker 2: Coach.
• 1:33:43
  Speaker 7: The energy out there felt different. What changed for the
• 1:33:45
  Speaker 7: team today?
• 1:33:46
  Speaker 3: It was the new game day, scratches from the California
• 1:33:48
  Speaker 3: Lottery players, everything.
• 1:33:50
  Speaker 4: Those games sent the team's energy through the roof.
• 1:33:52
  Speaker 7: Are you saying it was the off field play that
• 1:33:54
  Speaker 7: made the difference on the field.
• 1:33:55
  Speaker 4: Hey, little play makes your day, and today it made
• 1:33:58
  Speaker 4: the game.
• 1:33:59
  Speaker 7: That's off of that, coach, one more question played the
• 1:34:01
  Speaker 7: new Los Angeles Chargers, San Francisco forty nine ers and
• 1:34:04
  Speaker 7: Los Angeles Rams scratchers from the California Lottery. A little
• 1:34:08
  Speaker 7: play can make your day. Peace play responsibly. Must be
• 1:34:11
  Speaker 7: eighteen years or older to purchase play or claim