Podcast Episode Details
Back to Podcast Episodes
Spill_The_Tea_With_D_and_E.01.037.Student.Loans
Season 1 Episode 37
Here's a podcast summary for "Spill the Tea with D and E" on Student Loans:
In this eye-opening episode, Dominique Hackett and Erica Salda dive deep into the student loan crisis, exposing a system they describe as "indentured servitude." Key highlights include:
Main Points:
- U.S. student loan debt stands at a staggering $1.77 trillion
- Average borrower owes around $40,000, with advanced degrees reaching $200,000-$400,000
- Monthly loan payments can range from $800 to $3,000
Critical Insights:
- Federal student loans have created a generational financial trap
- College tuition has inflated 1,000-1,200% over 30 years
- Nearly one-third of borrowers are over 90 days late on payments
Societal Impact:
- Preventing young people from starting families
- Hindering small business creation
- Potentially replacing workforce with cheaper alternatives like robots
Advice for Listeners:
- Check loan servicers and verify balance
- Explore income-based repayment options
- Research loan forgiveness programs
- Prioritize avoiding debt over prestigious school names
The hosts emphasize the need for systemic change and urge parents and students to be more financially strategic in educational choices.
Dominique: This podcast is done by us as volunteers, and all monies earned go to Santa Barbara Wellness Center, Inc. Our mission is to support kids and teens and our community in wellness.
Erica: If you’d like to support, donations can be made at SBWellness.org. Truly — every bit helps us lift local youth and families.
Both: Thank you, we love you, and we’ll see you next tea time. 🌴☕️
Published on 4 months, 2 weeks ago