Topic Guide
What Is Student loans?
Student loans is a subject covered in depth across 14 podcast episodes in our database. Below you'll find key concepts, expert insights, and the top episodes to listen to — all distilled from hours of conversation by leading experts.
Key Concepts in Student loans
Baby steps
The Ramsey Solutions framework for personal finance, guiding individuals through seven sequential steps to achieve financial peace, starting with a beginner emergency fund, debt snowball, fully funded emergency fund, investing, college savings, mortgage payoff, and wealth building. Callers frequently reference their current step in the plan.
Debt snowball
A debt reduction strategy where you pay off debts in order from smallest to largest balance, regardless of interest rate. Once the smallest debt is paid off, you take the money you were paying on that debt and add it to the payment of the next smallest debt, creating a 'snowball' effect. The episode suggests using this for multiple small student loans.
Everydollar app
A budgeting tool promoted by Ramsey Solutions to help individuals and couples track their spending, create a budget, and manage their money with full transparency. The episode highlights its effectiveness in helping users become 'gazelle intense' and identify previously unrecognized debt.
Manual underwriting
An alternative mortgage approval process for individuals who are debt-free and thus lack a traditional credit score. Lenders manually review financial records like payment history, employment, and savings to assess risk, allowing debt-free individuals to secure mortgages at competitive rates without relying on FICO scores.
Priced out on purpose
This concept posits that Gen Z and millennials are not accidentally locked out of the housing market but have been deliberately pushed out. The episode attributes this to various corporate entities and governmental policies creating an insurmountable burden of car, student loan, and credit card debt, making homeownership unattainable.
Financial infidelity
Defined as lying to a spouse about money, such as secret debt or hidden accounts. The episode highlights its devastating impact on trust and the need to address it directly for marital health.
What Experts Say About Student loans
- 1.Breakups can occur not just due to the amount of debt, but primarily because of differing financial behaviors and relationships with money.
- 2.Healing from a money-related relationship breakdown involves introspection to understand what contributed to the issue.
- 3.Rebuilding self-trust and confidence in one's ability to manage finances is a crucial step in moving forward.
- 4.Establishing new, positive financial habits is essential to overcome past money struggles and prevent future conflicts.
- 5.A challenging life event, such as a breakup over money, can serve as a "fork in the road" and a pivotal moment for personal growth and financial transformation.
- 6.It is possible to break generational cycles of poor money habits by intentionally changing one's own financial behavior.
Top Episodes to Learn About Student loans
The Dave Ramsey Show