You're watching...
The Dave Ramsey Show host Dave Ramsey sounds off on pre-college student loans.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Tuned for that.
-- -- college loans.
Kindergarten loans it is a growing trend and here's why the average tuition rate for private schools -- 22000.
Dollars.
That's up 4% from last -- 26%.
From just five years ago.
Is this new debt bubble ready to burst pre college loans have -- -- heard of such a thing.
Dave Ramsey has some financial advice for parents -- joins us now Dick thanks so much for joining us -- good idea to go into debt for kindergarten.
Now it will be stupid I mean how ridiculous is that.
That's just crazy there is absolutely no research that indicates your kid goes to a private kindergarten makes them successful in life gimme a break that's -- I don't mean and guess have to together side and -- and -- -- because it's a huge staying here in the northeast you had a really nice expensive private school.
You know they have everything they have music and you know they set them -- -- college -- incredible rate of getting into Harvard another Ivy League schools a lot of parents believe that you set some on the path.
To going to -- -- didn't score going through great college making a fortune.
Being winners and life why is that wrong.
Well because there's no research that indicates Ivy League schools are a indicator of future success.
The Wall Street Journal that a whole series last year that was very controversial because they found that.
More CEOs of fortune 500.
Companies are graduates of state schools then of Ivy League or prestige schools.
And so this whole idea that somehow where you go to school is your future indicator of success is honestly ridiculous there's no research for.
Get up okay what I've heard parents say you know I've set aside.
A 100000 dollars -- my kids to go to college.
I'm -- spend it on a private high school instead and tell them.
You know what eight you're getting the advantage now it's up to you to get college loans to go off to college -- -- -- your high school privately incident college what do you think about that.
-- gonna put the burden of my children's college education on their back when -- fifteen years all.
I'm sorry I don't think that's very brave as a parent.
I think it's a cop out.
Listen that there are reasons to put kids in private schools there's probably about three major reasons that -- people choose to do that.
One is they're looking for better quality of education than their particular.
Public school system offers they're looking for safety and they're in a situation where they're -- a unsafe environment or their looking for a good Catholic education -- -- good Christian education or a religious oriented education.
Those are three valid things to look at as reasons to do this they're never valid reasons to put your family and the debt.
To go do this if you're in an unsafe environment you probably need to move.
And you know you've got to really think through I talk to people making 36000 dollars a year.
We're taking -- 151000 dollars worth of tuition to put a kid in school really on these false premises and it's just ridiculous it's it's it's ridiculous not if you make 300 grand and you wanna -- a check for your kid to go to kindergarten somewhere.
Fine go do that that's awesome.
And you can have that you can be under the illusion that you've done something wonderful -- -- maybe you didn't.
Did did you go to private school did you go to college.
And apparently really -- -- I tell you you have until you have a very distinct point of view here did you go to private school so.
Just carry not -- states who are graduated from our graduate from public schools in.
Which were great public schools -- way in our particular area.
And then I went to a state school and there's a lot of folks -- prestige graduate degrees and MBAs and so forth that work for me.
-- not -- judgment either way I was just curious because you have such a strong opinion Dave Ramsey thanks so much for joining us.
Thanks for.
