The Raw Truth About Student Loans (What You Weren't Told)
The Live Your Dream Foundation [Proud Foundation Inc.] is a 501 [c]-3 non-profit organization providing grants, career opportunities, and other financial and educational support to help people eliminate their student loan debt or avoid it altogether. How can the Foundation help YOU live your dream
In this Blog post, the 1st in a 4-Blog series, it is my intent to set you straight on the facts about the Federal Student Loan Program, or actually “programs” as they exist today. Then I'll show you how to overcome them.
Here are the other three blogs in this series:
In this post you're going to learn:
- How to use certain rules of the Student Loan Program [that may differ from what you may have been told] to your competitive advantage.
- How to build a proper pre-planning advanced education strategy that saves you money!
- How to separate the scam-offers of loan relief from the legitimate ones.
- What legitimate ways are there to wiping out your student loan balance that are the quickest and most beneficial to your current situation.
- How to get that education you crave with someone else paying the tab!
So, Why Weren’t You Told?
About us, that is.
Or about anything else I may be about to surprise you with?
You thought you knew all there was to know about student loans, scholarships, grants, gifts and other educational assistance. Right?
Or, maybe you just didn’t know enough to look that far. After all, those smiling faces of the people offering you all this “free money” to go to school made it all sound so easy, didn’t they?
“Just sign here and you can go to school right now.”
Great! So sign you did, not really knowing the true ramifications of your actions.
You just wanted to go to school, convinced that with that degree, the world would later open up its welcoming arms and wipe away all of your troubles.
How did that work out for you?
All you wanted was to advance yourself by getting an education, but now look at where you’re are.
Before you ever have a chance to start your life you are now indebted to the Federal government to such a degree that your life choices may have just been permanently derailed or altered.
And if you are of the fifteen percent that kept borrowing enough to get that graduate degree so that your future was even more promising, you now find yourself in rare air. You are that truly fortunate group to have that six-figure student loan balance.
Quite a way to start out in life, huh?
Now, instead of spending your time developing a new business or finding that dream job, you have to worry about the IRS, the most diabolical collection agency in the history of mankind lurking around every corner of your life.
Those smiling faces that offered you that easy money didn’t bring those realities forward, did they?
And while they were smiling and you were signing, the universities kept raising tuition costs faster than the rate of inflation.
And why not?
As long as the free money was just a signature away, who would notice? Well, you did, right about the time your realization of how much debt you amassed hit you as one of life’s sobering wake-up calls.
It’s truly criminal what the U.S. Congress and the universities have done to force so many of our young people into a life of servitude and indebtedness as one of their first experiences as a young adult.
So, what do you do next?
Not Enough Income? Student Loan Crushing You?
First thing you need to do is to cozy-up to the facts about the life you now find yourself tangled up in, and this post is to help you do just that.
Among these sobering truths, the good news is that you do have many options, several of which, I suspect, you will be learning for the first time.
Why you weren’t told about what I am about to share with you will remain a mystery for now, but at least you have come to the right place to turn all that around.
The way I see it, there are several facets of the “Student Loan Experience” you need to understand before you can set the proper course of getting yourself free of this burden.
Which program you find yourself entangled in comes with their own set of rules but, as you will learn from this series, there are things you can easily do to wriggle yourself out.
So, let’s get started understanding what these programs are all about, and what you can do about it.
As a business owner all my life I have developed a systematized manner of building a business, a process not unlike that if I were to embark on the journey of acquiring an education to start a career.
Before any business is built it starts with an idea. That idea is developed into a written business plan that then becomes the blueprint for the construction of the business.
It’s obvious that as many begin their quest of a dream career the common thinking is that acquiring a degree is the first step in acquiring that dream job.
How many people do you know that are currently working in a position that has nothing at all to do with the degree they worked hard for years to attain, and spent tens if not hundreds of thousands of dollars to get it in the process?
Of those that are fortunate to have even found a job...
ONE HALF (51%) of the entire class of 2014 are working in jobs that have nothing to do with their college major.
And that percentage only goes up each year after graduation.
These young people, full of enthusiasm but short on experience and common sense, think only of the “dream”.
They by-pass the “blueprint” stage of career planning and short cut right to the “execution” stage by opting for an immediate education, most times to later find out that many mistakes were made through the lack of proper forethought and planning.
These People Got Jobs That Paid For Their Training AFTER They Were Hired.
BUT, the choice is yours: Would you chose to work for a government agency for [perhaps] minimum wage, or a private non-profit like ours for as little a s$10 per hour or as much as $75?
Starting Your Own Business
If we place less weight on the “careers in demand”, let me ask you: what are your passions?
Do you really think you can force yourself to “like” to do something for the rest of your working life that is NOT what you are passionate about? Why do you think the majority of degrees are no longer being used today?
Let me make it easy for you.
Someone “thought” they could learn to love something they trained for and got a degree in, but later
- either could not find a job in that area, or
- they worked in a job in that area for a while only to learn to hate it, or
- they found something else they liked better that satisfied them financially.
So now, after all of that time commitment and student load debt incurred, they have this worthless degree that hangs there on their wall as a testament of all of the “Stupid Tax” they paid to get it.
“Stupid Tax”, a Dave Ramsey-cloned term that refers to a financial loss for a dumb or not-so-well-thought-out idea.
My Foundation offers a program that I designed to lead you through a thought, dream, research, and construction phase to explore exactly that – your passion!
Imagine being able to make money from what you love most: pursuing your passions and loving your dreams that do not necessarily require a college degree. In fact most times they do not.
The example I gave about my Foundation offering full or part time salaried positions to those wanting to make a more-than-adequate living is only one possibility.
Another would be working for my Foundation for the same money, except you do it not as a salaried employee, you do it as an independent contractor running and owning your own business!
A service provided is a service compensated. Whether that be through a salary or a contract makes no difference to our Foundation.
Through our same training program you can learn the skills necessary, in just s few weeks or a few months, to land a good paying opportunity with The Proud Foundation, or take those same skills learned and start your own business doing something unrelated to my Foundation.
I hope you have found this post both informative and eye-opening. In either case, my wish is that it moves you to action, and action that has a better thought-process than the actions you have taken previously.
At least now you can never again ask “Why Wasn’t I Told?”