Rachel Cruze (1:56)

Oh, well, that's great. Okay, so how much does that cover?

Emma (2:00)

It covers about $44,000 over all four years.

Rachel Cruze (2:05)

Okay.

Dave Ramsey (2:07)

So you're down to, like, you'll owe 120 or something. What's the number?

Emma (2:11)

It's $11,000 a year for all four years. So I'm down to, like, $105,000.

Dave Ramsey (2:20)

Okay. And how much do you have saved?

Emma (2:25)

I actually do not have a savings account. I have been helping my parents with the bills and stuff I work for.

Dave Ramsey (2:34)

So they're struggling financially.

Emma (2:37)

Yes.

Dave Ramsey (2:37)

Okay.

Rachel Cruze (2:38)

Oh, wow. And you're working part time and that money that you're working for is going to the household?

Emma (2:44)

Yes.

Dave Ramsey (2:45)

Was this a something you're doing out of kindness or was it like a, hey, if you're going to live under a roof, you got to help around because times are tough?

Emma (2:52)

No, it's kindness.

Dave Ramsey (2:55)

Okay.

Rachel Cruze (2:55)

And they're. And they're. And they're they're taking your money?

Emma (3:02)

Yes and no. They. So I contribute, I help pay for groceries and stuff. And I am aware that some of the money that I'm paying them, they're putting in a savings account for me. I just don't know how much that is.

Dave Ramsey (3:21)

So we can get some clarity on that. We got to know if it's $1,000 or $10,000.

Emma (3:27)

I think if my math is right, it should be around 8,000.

Dave Ramsey (3:33)

And what if it's zero? What if they spent it all?

Emma (3:39)

I don't know.

Rachel Cruze (3:40)

Yeah, well, I hate to say it. I mean, I know there's, you know, people are in different circumstances financially, but asking an 18 year old to help provide for the family, that's tough for me. So I would, I would hope that they just took the money and put it in a savings account. But I would ask them tonight because it is October. And if you're a senior in high school, you know, you're starting to get early admission. I mean it's what you're doing. You're getting college, you've sent out college applications, you're getting the letters in, you're figuring out your next steps and you do that around this time. And so for you, Emma, to know, going into the next nine months of what you have to work with and staying within that. So I want to be really kind because I really appreciate the dream school. I know that you've thought about it and all of it, but there is a sign of maturity, Emma, that when you choose to live within your means, you don't get to do everything you want. And that's a true sign of an adult. And we talk to people on the show that are 45 that don't even grasp that. And so I would implore you that your friends Rachel and George can tell you in the real world, when you go out to get a job, when majority of people don't care what's on your diploma, they really don't. Some, some care that you have a four year degree. I mean that's a, I think a great thing to have, you know, So I, I think that's great. But people don't care and they don't, you know, the, the name of the school and all of that. It is a, it is not usually a sign that you're going to be successful and get a job that's going to then carry you for, throughout your adulthood and going $120,000 or 105,000. I think it's a little bit, I think it's Gonna end up being a little bit more than that after room and board and book everything.

Dave Ramsey (5:37)

What are you studying?

Emma (5:40)

I was planning on double majoring in pastoral ministry and communications.

Dave Ramsey (5:47)

Emma.

Rachel Cruze (5:48)

Emma, we just talked to a worship pastor who's making 53, $58,000 a year.

Dave Ramsey (5:53)

And he's been doing it a long time.

Rachel Cruze (5:54)

It would take you.

Dave Ramsey (5:55)

He's a successful worship leader.

Rachel Cruze (5:56)

It would take you like, seven to eight years to pay this off. No, no, please, please, please, no.

Dave Ramsey (6:04)

What do you want to do on the other side of this? Tell me the job. Like, if I could just do this job, it would be a dream summer camp director. Okay. I love the clarity there. Here's the good news. I don't think you need a communication degree or even a pastoral studies degree to be a summer camp director. You know what? You need experience at a summer camp where you work your way into a.

Rachel Cruze (6:29)

Direct role that you can do for free.

Dave Ramsey (6:31)

So this is actually great news. This gives me so much hope for you that we can avoid a crisis, because here's what. Let me play this out and you can go watch the Borrowed Future documentary we did on the student loan crisis. I think it'll help you understand some of what we're talking about. My fear for you is that you can never be a summer camp director because there is no summer camp director job that pays enough to cover the payments on the student loans that you end up taking out.

Rachel Cruze (6:54)

So you're going to have to go get a job. You're going to have to end up being, you know, an administrative assistant or something. I mean, which is not bad. But you're not going to get to do what you want to do in life because you're going to have bills to pay for years, for years and years and years and years for a Christian private education that you didn't need. You don't. You don't need it now.

Dave Ramsey (7:13)

Would it be a great time going to the school? I think so. But is it worth 120 grand for the price to have this experience? I don't think it is at this point. Now, if you had a full ride and you were like, I just want to do this for fun, I'd go, good for you. Go for it. But I just. I got into my dream school, Emma, when I was 18, and it was 50 grand a year for four years going to a film school. And I said, I. I don't think I can stomach 200 grand in student loan debt to maybe be a film director one day. And I think that was the Lord saying, please don't do this, young man. Yeah, your future is going to be.

Rachel Cruze (7:46)

Bright with that scripture, Emma. Every time debt is mentioned, it's in a negative fashion. Now, it's not a sin if you end up going, you're going to get to heaven with student loans. You're fine, right? It's not a sin. But every time it's mentioned, it is negative. It's a curse. It's you are a slave to the lender. It is not wise. Go read proverbs. Go read proverbs. What God has set before you. And before you make this mistake, Emma, please listen to your parents. They're giving you good wisdom and figure out how much is in that account because I think you can go to a community college even for a little bit if you need to create your.

Dave Ramsey (8:17)

Free every dollar budget today, the simplest way to budget for your life.