“At 18, you can’t even buy alcohol, but you can take out $50,000 in student loan debt.”
— Tonya Rapley
While we can all agree that higher education is important, it’s crucial that we look at the financial system put in place to help students access it — and the brutal costs that are associated with it.
My guest in this week’s episode is Tonya Rapley, an award-winning speaker, educator, bestselling author, and serial entrepreneur. She co-hosts the TV series Going From Broke, where she helps young debtors go from financial struggle to becoming CEOs of their own lives. She’s also a fantastic financial advisor who runs the website My Fab Finance.
Tonya is passionate about helping people take control of their finances and find the light at the end of the tunnel of debt.
Tune in for a sobering, honest, and informative conversation about the state of student loan and medical debt in the United States, the harmful aspects of these systems, and their impact on average American citizens.
In this episode, you’ll discover:
• Why young people NEED a show like Going From Broke in our current economic climate
• How the American student loan system works — and why the system is morally broken
• Real-life examples of hardships caused by the American health insurance system and medical or student loan debt
About Tonya Rapley
Tonya Rapley is an award-winning content creator, speaker, educator, bestselling author, and businesswoman. She is the co-host of Going From Broke, a TV series on Crackle that is in its second season and executive produced by Ashton Kutcher. On the show, she helps debtors go from financial struggle to becoming CEOs of their own lives. She is the founder of the finance website My Fab Finance.
Highlights:
01:44 Meet Tonya Rapley & Going From Broke
05:25 The two types of clients
06:40 Show origins & participants
09:16 Student loan debt
13:33 How US student loans are set up
14:56 Payback & interest
16:47 Inability to make payments
17:37 CARES Act
19:15 Alternatives
20:39 Medical debt
23:37 Health insurance
24:29 Human impacts
26:44 Canadian situation
27:31 Steps to debt freedom
Links:
Tonya Rapley
https://www.goingfrombroke.info
https://www.crackle.com/watch/5757
Instagram & Twitter: @tonya.rapley
The Money Manual: A Practical Money Guide to Help You Succeed On Your Financial Journey:
CAN:https://amzn.to/3uqFMSo
The 5-Step Roadmap to Biz Finance Freedom
https://melissa-houston-cpa-cga.mykajabi.com/5-step-roadmap-to-biz-finance-freedom
Work with me
https://www.melissahoustoncpa.com/work-with-me
Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.