Garden of Graces Episode 12 Nicole Pt2

Sara Joins

James deployed

Student Loans makes it hard to imagine and have a large family

Dave Ramsey contra to culture

10 months paid off 100K

Deployment get extra $$

Choice to use blessings given

Double edge sword of interest

Meaning of interest both in terms of debt and investments

100 K real norm for debt equals 100K/month

No education

Deployed during college for 1 year

While gone, loans accumulated interest, debt ballooned

Not paying means debt growing

Initial amount taken out was 60-70K

Grew to 100K, 2 cars of ignorance

Teens don’t understand compounding interest

Federal guaranteed loan program, leads to student loan program

Scam on part of colleges

College prices skyrocketed, inflated staff and costs

Good debt vs bad debt fallacy