June 3, 2025 • 18 mins
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There's a new bill being discussed that aims to cap federal student loans. We discuss how this move could deepen inequality and disproportionately affect students from less privileged backgrounds. Check out the video for more financial education and how proposed student loan changes could dramatically alter the future of healthcare education and what it means for future doctors!.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The one big beautiful bill.
A portion of it is to capfederal student loans at $20,000
per person per year.
It's a problem, y'all.
There's a total lifetime limitof $100,000.
That's right.
The authors who wrote this saidthat if there is unpaid student
loan debt, that certain schoolswill have to take
responsibility for having to paya portion of that for the
(00:21):
students.
I don't understand how thisworks, but apparently some of
that money that the institutionis going to have to pay will go
into this pool that'll gotowards schools that are
reaching certain metrics thatthe authors of this bill deem to
be basically worthy to get thismoney.
The problem is who's going tobe accountable for this?
This is some type of amorphousthing that's in the sky.
(00:41):
I'm nervous about this, right,because there are caps already
on how much student loans youcan take out federally, right?
That cap is way higher than$100,000, right, and that makes
a big difference for people whoare going to grad school.
And so, in essence, what you'redoing is you're continuing to
ensure that the only people whoare able to go to grad school
(01:03):
specifically the four-year gradschools, the law school, law
schools three years, but the medschools you're ensuring that
only the rich, or only thewell-off, can go to school going
back in time.
Speaker 2 (01:19):
We all know what that does time.
Speaker 1 (01:22):
We all know what that does and that's fine.
Fine, you know, that's fine.
There are consequences to allthose different things.
But it's like when it'sblatantly in your face it's like
yo, yo, like.
So, for pre-meds who arelistening to, like well, can you
like make this real as to likehow this is going to affect me?
And I'm like, I'm thinkingabout, I'm like like you have to
(01:47):
plan with the assumption thatyou may not have full federal
support in the future.
Right, like I remember going toschool in the 90s, like I
started college in 96.
And I remember, you know, therewas a junior who was Basil,
good guy, cool brother.
You ever met somebody who'sjust like.
He's just like nothing bothershim, Nothing fazes him.
He wore the nicest clothes, hewasn't, he was popular, he was
popular for because just howcool he was right.
And I remember baz, I wastelling baz I was like yo man,
(02:08):
like, oh, like it's like Iforgot what I think it was.
Like it was the beginning oflike the second semester of my
first year and we were in thesame dorm and stuff like that,
and he came out like at 10o'clock in the morning and I
just got back from like thebursar's office because my shit
ain't clear.
If you know what I mean, myrefund check ain't clear.
I was like yo man, they tryingto kick me out of school and
stuff, and he's like man, chillman.
(02:28):
I was like what do you meanchill?
He's like yeah, you can alwaystake.
He's like brushing his teethwhile he's telling me this.
He's like chill, man, you canalways take.
I'm like you motherfucker.
Speaker 2 (02:41):
I'm like yo you right , Right, and do that no more
with this big beautiful bill, ifit goes through, right.
Speaker 1 (02:47):
And for someone like me who knows that there's going
to be this prolonged like I knewI was going to, I was going to
go to med school, or I wanted togo to med school, right, it
wasn't like I wanted to go workin corporate America and I just
wanted to do four years ofcollege, just so I can get.
I was like, well, you know, Igot to do four years of
undergrad, then I got to do fouryears of med school.
(03:09):
Um, so, yeah, I'm going to bein a hell of a ton of debt.
I might as well just startright now.
But yeah, for, for pre-meds,you just you're going to have to
start If this bill goes through.
You have to know that there'sgoing to be a significant
portion of your student loandebt that is not going to have
any federal funding to this, andyou're going to probably have
to prepare yourself for usingprivate loans or waiting for
(03:30):
family to help you out.
Speaker 2 (03:32):
So, speaking of all of that right, the other nuance
of this is kind of the theclimate of anti-DEI right.
And so one of the ways that youcan kill programs, one of the
(03:55):
ways that in politics, programsare actually killed, is that you
don't say, well, we don't wantthis program anymore.
What you do is you just cut thefunding.
So you say, well, we don't wantthis program anymore.
What you do is you just cut thefunding.
So you say, well, the programexists, it just hasn't been
funded, right?
So if it hasn't been funded,then technically you know
program exists on paper, but itstill doesn't exist.
(04:19):
And so when you haveuniversities that are saying,
listen, we are going to engagein diversity recruitment efforts
, we don't care what the federalgovernment says, then the
federal government can come backand go.
You go ahead and do that.
You better go ahead and do that.
(04:40):
Ok, yeah, but we're going to doour own thing over here and
we're going to cut the funding.
Because, right there, if youdon't have funding to be able to
bring these students in, thenwhat are you recruiting?
Your recruitment efforts aremoot unless the universities
(05:03):
themselves can actually come upwith their own ways of funding
these students.
Speaker 1 (05:09):
Well, that's, that's a point that I was going, that I
was going to mention is.
You know, I was.
I was trying to figure out,well, what are the upsides of
this type of bill?
And I I was thinking about,well, will this force schools to
not inflate tuition?
I don't know, I don't know.
Speaker 2 (05:25):
Yeah, I'm going to say no, I don't think that it's
going to force the schools notto inflate tuition.
I just don't you know.
Speaker 1 (05:35):
Because if this means that more and more people got
to pay out of pocket, that couldbe a problem for schools and
like, yeah, you're going to haveto give me some value.
Speaker 2 (05:42):
Well, I mean they'll just replace who paid by loans
with who's paying out of pocket,right Like that.
I mean you think it's that easy.
You think it's that easy?
I do, I do.
I do think it's that easy.
I think that there are a numberof students who are not getting
into medical school, who wouldlike to get into medical school,
(06:03):
and daddy can pay.
Speaker 1 (06:06):
But here's this.
So there are like crediblestudies, research that shows
that, like you can see, theinflection point of when tuition
just catapulted I can'tremember what decade it was, but
it had to do with when thefederal government decided that
they were going to federallyback loans, and when that
(06:29):
occurred, schools were like heyyo, no matter what, as Haitians
would say.
Speaker 2 (06:37):
PI, pi.
Speaker 1 (06:39):
Was that?
Was that me PI PI PI.
Speaker 2 (06:43):
PI, p-i, p-i, p-i, p-i, p-i-e.
No, not P-I-E, just P-I Ra, no,no, no, no, there's, no R in it
.
P-i-e no, not P-I-E, p-i.
Speaker 1 (06:59):
P-I.
There you go, the Haitians.
Are they?
Like?
Are their ears bleeding rightnow?
Pi Sac passe Haitians.
Did I do a good job?
Yes, all right.
But here's another thing, tooLike.
Is this going to force statesto actually start implementing
programs where they have to payfor medical school for people to
go in?
Right, so you know, you knowhow?
Like remember what's thatschool, ohio University
(07:19):
implementing programs where theyhave to pay for medical school
for people to go in?
Right, so you know, you knowhow.
Like remember what's thatschool, ohio University.
Remember, like everybody whoapplied there, like they would
give you a certain amount offinancial aid if you signed this
contract that said you're goingto come back and work in the
state for like three to fiveyears.
Is that going to increase thosetype of programs?
Speaker 2 (07:40):
So it.
So I will say this it might,but any increase or, excuse me,
any, Any effort to bring in anysort of student who cannot pay
out of pocket must befinancially lucrative for
whomever is bringing them in.
(08:01):
I want people to understandthat there is no altruism in
helping people get into medicalschool, in helping people get
into medical school Like.
There's no altruism not on theside of the medical schools, not
on the side of the federalgovernment, not on the side of
(08:23):
any of these programs thatalready exist and not on the
side of any programs, futureprograms that will exist.
There is no altruism in gettingpeople into medical school Like
it just doesn't exist.
There is no altruism in gettingpeople into medical school Like
it just doesn't exist.
And I'm saying this, I'm reallysaying this more for the people
(08:46):
who are very, you know, gung-ho,DEI right, who don't understand
very specifically why thiswhole thing even exists.
Right, and I'm pro-DEI, don'tget me wrong but I also know
what country I live in and Iknow we live in a capitalistic
country.
(09:06):
So this is not about altruism,not at all.
So I just want to make thatclear.
Speaker 1 (09:15):
I got a question.
I got a question for you, but Iactually got a question for the
audience Would a 100,000 loancap have stopped you from
applying to medical school?
So this is for the people whoare in med school right now,
folks who are in residency.
If you knew that there was acap on the amount of student
loans that you could get, andthat like pretty much half,
because I think right now themajority of people well, I don't
(09:37):
know, I can't say that you knowthose graduate from 400 to
$500,000 of student loan debt.
Yo, that's more than half,that's more than half of their
student loans was probably inprivate loans.
So I present to you all, likewould you have changed your
decision to go to med school orto apply to med school if you
knew like some of this stuff wasdown the the pike?
Um, let me ask you if you, ifyou knew like a probably 75, 50
(10:01):
to 75 is going to be privateloans, which is going to be at
like 13 back in the day I Iprobably still would have
applied, you still would.
Speaker 2 (10:07):
I probably still would have applied, knowing what
I know.
Now I I don't know.
But if you asked me back then,understanding all of this, back
then I'd have been like allright, well, if I get a loan
from the government versus I geta private loan, what's the big
deal?
I would not have understood.
The stakes are high, right, butI would not have understood the
(10:28):
nuance, and this is why I thinkit's important that we're
talking about this, becausepre-meds really, really, really
need to understand.
Don't think like Dr Renee did,like ah, what's the big deal?
A loan is a loan, is a loan.
No, a loan is a loan is not aloan A loan got to get paid back
yo back, and there there mightnot be deferment, there might
(10:57):
not be forbearance, there mightbe a calling of your loan, which
basically means at some pointany lender could be like yeah,
just give me the whole thing now.
Um, you don't have thoseprotections with a private loan
necessarily, like you do withthe federal government, right?
Speaker 1 (11:13):
Um, I just I, I just I have to.
So I, if it was me, because younever asked me questions, but
if it was me I was going to askyou a question.
Speaker 2 (11:22):
But you keep chiming in.
Speaker 1 (11:25):
You never ask me any questions.
Speaker 2 (11:26):
I was going to ask you a question, but you keep
chiming in.
Ask your question.
Tell us, tell us, everybodydoes Nii interrupt me before I
can actually ever get him to apoint where I can ask a question
.
Speaker 1 (11:39):
Let us know, alfred, don't plug anything in, alfred.
I know I was going to putsomething in, that's right.
Speaker 2 (11:44):
Alfred, you can plug in all the times when he's
interrupted me.
Speaker 1 (11:47):
Don't put nothing in there.
Okay, alfred, you're on my side, yo, you're on my side side.
Whatever, knowing all thisthing was going on, I knew I
wanted to be a doctor and I waswilling to sacrifice anything,
but I think I would be sweatingbricks knowing that all of these
.
I'd be sweating bricks knowingthat Because, for me, the way
(12:09):
when I was applying, I knew Iwas applying to med school
without, like, I wasn't going toask my parents for jack right,
mainly because yo, like, by thetime I was like yo, I had been
like six or seven FASTAs inright.
So I know the jig was up withmy parents, like they can't
afford this.
You know what I'm saying.
So, like, if y'all don't know,like, when you put in the FAFSAs
, you got to see you need yourparents' tax returns, you need
(12:31):
your parents' gross income,whatever this or that.
I know they ain't got it.
So when I'm going to med schoolor applying to med school, I you
know.
So that's the other thingthat's really interesting.
It's like, you know, youprobably got parents who are
(12:53):
already like hemmed up fromdoing a Parent PLUS loan for
college and we just talkingabout one person.
What if they got two kids inschool, two kids, three kids,
and you're going to be like yomom, dad, I would have kept
going, but, like for me, what Ireally think about, too, is, you
(13:14):
know, we don't see a lot ofdropouts.
We don't see a lot of dropouts.
So that's what I who goingthrough.
I think I eventually have todrop out right.
Speaker 2 (13:22):
So the attrition rate may be affected, will be
affected just due to the factthat people don't have good
enough credit to get privateloans.
(13:44):
They don't have a good you know, they don't have a cosigner,
they don't have a cosigner withgood credit, right, like all of
this.
Here's my question to you,before you interrupt me Because
you had to get a cosigner.
Speaker 1 (13:56):
Look, look, look, look I did.
Man Look Go ahead.
Speaker 2 (14:00):
Look.
Speaker 1 (14:01):
That's peace, that's peace, that's peace, go ahead.
Speaker 2 (14:04):
So here's my question to you.
My question to you is would ithave changed, would it have
changed the your way of applyingto school if you knew you only
had a hundred thousand dollarsguaranteed by the federal
government?
Speaker 1 (14:24):
oh, that's a good question, y'all.
Um, probably what I would do inthat situation is I'd be looking
at all the schools that offersome type of scholarship in some
form or fashion, like I'd betrying to prioritize.
Is there any type of way that Icould go to, like ohio u or any
(14:44):
of those type of schools thatsay, hey, yo, if you come to the
school, we'll pay x, y and ztowards your student loan debt,
but you got to the school, we'llpay X, y and Z towards your
student loan debt, but you gotto stay in this state for five
years.
That's what I would beprioritizing.
But, as we all know, it's likelook, you just kind of get in
where you fit in when you'reapplying to med school, give me
(15:06):
some type of student loanrepayment debt, some type of
scholarship.
That's known for giving peoplescholarships.
Those are the type of thingsthat I would be focused on, but
I'd be hella nervous about itbecause I'd be like yo, I know
I'd definitely be thinking aboutyo, I'm applying to this, I'm
telling everybody, yo, I'm goingto med school, and then you get
in.
Speaker 2 (15:35):
And then next, you know, I'm worried like my second
year year, I'm gonna have tohit up, hit up people.
I'm like yo, I need you to be acosign on this.
Yeah, can't pay sign.
Yeah, I think my, I think myapproach probably would have
been I would have hit everystate school in new york.
I put it in every school.
Well, because the tuitions areat least lower, right.
And so it's like OK, even evenif I had to go over one hundred
(15:56):
thousand, it's better to go, youknow, a few thousand more
instead of one hundred thousandmore over one hundred thousand.
You understand what I'm saying?
Like it, definitely.
I think I would have startedprioritizing schools by tuition.
I'd have been like this is a,you know, this is low, this is
(16:18):
low, this is.
I would have been ranking themfrom lowest tuition to highest
tuition.
That's where, that's where mything would have gone.
And so so the question now isif this thing does go through.
Speaker 1 (16:37):
And so so the question now is if this thing
does go through, are the schoolswith the lowest tuition going
to be the most competitive forcertain demographics?
Oh well, first of all, theschools that offer the schools
that offer free tuition,everybody's going to be applying
Exactly, exactly.
So that's a good question.
I got a question back to you.
Those schools that are superselective you know that you know
are known for just maybe onlyhaving a small class size Right.
(17:00):
Are they going to have to beforced to increase that class
size?
Speaker 2 (17:03):
I don't think so.
I don't think so.
Why would they, though?
What would be the rationale forthat?
Speaker 1 (17:10):
Why would they, though?
What would be the rationale forthat?
I don't know.
Speaker 2 (17:14):
You know, like for example, like what is Morehouse
do?
Well, morehouse doubled theirsize, like a few years ago.
Speaker 1 (17:19):
Oh, they did.
Speaker 2 (17:20):
Yeah, morehouse got really big a couple like not a
couple, but a few years back.
I don't know if they doubled it, I shouldn't say they doubled
it, but they, they increasedtheir class size pretty
significantly a few years back.
Speaker 1 (17:33):
Listen.
If you're listening right nowand you're a med student, you're
a pre-med and you're not surewhat you want to do, yeah.
Speaker 2 (17:40):
Yeah.
Speaker 1 (17:40):
Start doing some pushups, start doing some
sit-ups.
Some monetary pushups, start,start getting on the treadmill,
the Mozempic, because, hey, yo,you're going to have to join a
meditator, you're going to haveto get fit.
That's the option.
Yo, that is the option.
Yo, you're going to have tostart getting into these.
Speaker 2 (17:59):
Yo, I'm laughing to stop from crying because no,
seriously.
And then National HealthService Corps.
Right, so you have NationalHealth Service Corps.
Which National?
Speaker 1 (18:09):
Health Service.
Speaker 2 (18:09):
Corps?
Right, yo, you got to startjuggling some push-ups.
So you have National HealthService Corps.
Which National Health ServiceCorps?
Right?
Probably their applications aregoing to go through the roof.
You know Absolutely.
Speaker 1 (18:22):
Like we got to get off this topic yo, we got to get
off this topic yo.
What's good everyone?
This is Dr Nii Yo.
This is the end of this segment.
I appreciate you for listening,but this ain Peace.
The one big beautiful bill.
A portion of it is to capfederal student loans at $20,000
per person per year.
It's a problem, y'all.
There's a total lifetime limitof $100,000.
That's right.
The authors who wrote this saidthat if there is unpaid student
loan debt, that certain schoolswill have to take
responsibility for having to paya portion of that for the
(00:21):
students.
I don't understand how thisworks, but apparently some of
that money that the institutionis going to have to pay will go
into this pool that'll gotowards schools that are
reaching certain metrics thatthe authors of this bill deem to
be basically worthy to get thismoney.
The problem is who's going tobe accountable for this?
This is some type of amorphousthing that's in the sky.
(00:41):
I'm nervous about this, right,because there are caps already
on how much student loans youcan take out federally, right?
That cap is way higher than$100,000, right, and that makes
a big difference for people whoare going to grad school.
And so, in essence, what you'redoing is you're continuing to
ensure that the only people whoare able to go to grad school
(01:03):
specifically the four-year gradschools, the law school, law
schools three years, but the medschools you're ensuring that
only the rich, or only thewell-off, can go to school going
back in time.
Speaker 2 (01:19):
We all know what that does time.
Speaker 1 (01:22):
We all know what that does and that's fine.
Fine, you know, that's fine.
There are consequences to allthose different things.
But it's like when it'sblatantly in your face it's like
yo, yo, like.
So, for pre-meds who arelistening to, like well, can you
like make this real as to likehow this is going to affect me?
And I'm like, I'm thinkingabout, I'm like like you have to
(01:47):
plan with the assumption thatyou may not have full federal
support in the future.
Right, like I remember going toschool in the 90s, like I
started college in 96.
And I remember, you know, therewas a junior who was Basil,
good guy, cool brother.
You ever met somebody who'sjust like.
He's just like nothing bothershim, Nothing fazes him.
He wore the nicest clothes, hewasn't, he was popular, he was
popular for because just howcool he was right.
And I remember baz, I wastelling baz I was like yo man,
(02:08):
like, oh, like it's like Iforgot what I think it was.
Like it was the beginning oflike the second semester of my
first year and we were in thesame dorm and stuff like that,
and he came out like at 10o'clock in the morning and I
just got back from like thebursar's office because my shit
ain't clear.
If you know what I mean, myrefund check ain't clear.
I was like yo man, they tryingto kick me out of school and
stuff, and he's like man, chillman.
(02:28):
I was like what do you meanchill?
He's like yeah, you can alwaystake.
He's like brushing his teethwhile he's telling me this.
He's like chill, man, you canalways take.
I'm like you motherfucker.
Speaker 2 (02:41):
I'm like yo you right , Right, and do that no more
with this big beautiful bill, ifit goes through, right.
Speaker 1 (02:47):
And for someone like me who knows that there's going
to be this prolonged like I knewI was going to, I was going to
go to med school, or I wanted togo to med school, right, it
wasn't like I wanted to go workin corporate America and I just
wanted to do four years ofcollege, just so I can get.
I was like, well, you know, Igot to do four years of
undergrad, then I got to do fouryears of med school.
(03:09):
Um, so, yeah, I'm going to bein a hell of a ton of debt.
I might as well just startright now.
But yeah, for, for pre-meds,you just you're going to have to
start If this bill goes through.
You have to know that there'sgoing to be a significant
portion of your student loandebt that is not going to have
any federal funding to this, andyou're going to probably have
to prepare yourself for usingprivate loans or waiting for
(03:30):
family to help you out.
Speaker 2 (03:32):
So, speaking of all of that right, the other nuance
of this is kind of the theclimate of anti-DEI right.
And so one of the ways that youcan kill programs, one of the
(03:55):
ways that in politics, programsare actually killed, is that you
don't say, well, we don't wantthis program anymore.
What you do is you just cut thefunding.
So you say, well, we don't wantthis program anymore.
What you do is you just cut thefunding.
So you say, well, the programexists, it just hasn't been
funded, right?
So if it hasn't been funded,then technically you know
program exists on paper, but itstill doesn't exist.
(04:19):
And so when you haveuniversities that are saying,
listen, we are going to engagein diversity recruitment efforts
, we don't care what the federalgovernment says, then the
federal government can come backand go.
You go ahead and do that.
You better go ahead and do that.
(04:40):
Ok, yeah, but we're going to doour own thing over here and
we're going to cut the funding.
Because, right there, if youdon't have funding to be able to
bring these students in, thenwhat are you recruiting?
Your recruitment efforts aremoot unless the universities
(05:03):
themselves can actually come upwith their own ways of funding
these students.
Speaker 1 (05:09):
Well, that's, that's a point that I was going, that I
was going to mention is.
You know, I was.
I was trying to figure out,well, what are the upsides of
this type of bill?
And I I was thinking about,well, will this force schools to
not inflate tuition?
I don't know, I don't know.
Speaker 2 (05:25):
Yeah, I'm going to say no, I don't think that it's
going to force the schools notto inflate tuition.
I just don't you know.
Speaker 1 (05:35):
Because if this means that more and more people got
to pay out of pocket, that couldbe a problem for schools and
like, yeah, you're going to haveto give me some value.
Speaker 2 (05:42):
Well, I mean they'll just replace who paid by loans
with who's paying out of pocket,right Like that.
I mean you think it's that easy.
You think it's that easy?
I do, I do.
I do think it's that easy.
I think that there are a numberof students who are not getting
into medical school, who wouldlike to get into medical school,
(06:03):
and daddy can pay.
Speaker 1 (06:06):
But here's this.
So there are like crediblestudies, research that shows
that, like you can see, theinflection point of when tuition
just catapulted I can'tremember what decade it was, but
it had to do with when thefederal government decided that
they were going to federallyback loans, and when that
(06:29):
occurred, schools were like heyyo, no matter what, as Haitians
would say.
Speaker 2 (06:37):
PI, pi.
Speaker 1 (06:39):
Was that?
Was that me PI PI PI.
Speaker 2 (06:43):
PI, p-i, p-i, p-i, p-i, p-i-e.
No, not P-I-E, just P-I Ra, no,no, no, no, there's, no R in it
.
P-i-e no, not P-I-E, p-i.
Speaker 1 (06:59):
P-I.
There you go, the Haitians.
Are they?
Like?
Are their ears bleeding rightnow?
Pi Sac passe Haitians.
Did I do a good job?
Yes, all right.
But here's another thing, tooLike.
Is this going to force statesto actually start implementing
programs where they have to payfor medical school for people to
go in?
Right, so you know, you knowhow?
Like remember what's thatschool, ohio University
(07:19):
implementing programs where theyhave to pay for medical school
for people to go in?
Right, so you know, you knowhow.
Like remember what's thatschool, ohio University.
Remember, like everybody whoapplied there, like they would
give you a certain amount offinancial aid if you signed this
contract that said you're goingto come back and work in the
state for like three to fiveyears.
Is that going to increase thosetype of programs?
Speaker 2 (07:40):
So it.
So I will say this it might,but any increase or, excuse me,
any, Any effort to bring in anysort of student who cannot pay
out of pocket must befinancially lucrative for
whomever is bringing them in.
(08:01):
I want people to understandthat there is no altruism in
helping people get into medicalschool, in helping people get
into medical school Like.
There's no altruism not on theside of the medical schools, not
on the side of the federalgovernment, not on the side of
(08:23):
any of these programs thatalready exist and not on the
side of any programs, futureprograms that will exist.
There is no altruism in gettingpeople into medical school Like
it just doesn't exist.
There is no altruism in gettingpeople into medical school Like
it just doesn't exist.
And I'm saying this, I'm reallysaying this more for the people
(08:46):
who are very, you know, gung-ho,DEI right, who don't understand
very specifically why thiswhole thing even exists.
Right, and I'm pro-DEI, don'tget me wrong but I also know
what country I live in and Iknow we live in a capitalistic
country.
(09:06):
So this is not about altruism,not at all.
So I just want to make thatclear.
Speaker 1 (09:15):
I got a question.
I got a question for you, but Iactually got a question for the
audience Would a 100,000 loancap have stopped you from
applying to medical school?
So this is for the people whoare in med school right now,
folks who are in residency.
If you knew that there was acap on the amount of student
loans that you could get, andthat like pretty much half,
because I think right now themajority of people well, I don't
(09:37):
know, I can't say that you knowthose graduate from 400 to
$500,000 of student loan debt.
Yo, that's more than half,that's more than half of their
student loans was probably inprivate loans.
So I present to you all, likewould you have changed your
decision to go to med school orto apply to med school if you
knew like some of this stuff wasdown the the pike?
Um, let me ask you if you, ifyou knew like a probably 75, 50
(10:01):
to 75 is going to be privateloans, which is going to be at
like 13 back in the day I Iprobably still would have
applied, you still would.
Speaker 2 (10:07):
I probably still would have applied, knowing what
I know.
Now I I don't know.
But if you asked me back then,understanding all of this, back
then I'd have been like allright, well, if I get a loan
from the government versus I geta private loan, what's the big
deal?
I would not have understood.
The stakes are high, right, butI would not have understood the
(10:28):
nuance, and this is why I thinkit's important that we're
talking about this, becausepre-meds really, really, really
need to understand.
Don't think like Dr Renee did,like ah, what's the big deal?
A loan is a loan, is a loan.
No, a loan is a loan is not aloan A loan got to get paid back
yo back, and there there mightnot be deferment, there might
(10:57):
not be forbearance, there mightbe a calling of your loan, which
basically means at some pointany lender could be like yeah,
just give me the whole thing now.
Um, you don't have thoseprotections with a private loan
necessarily, like you do withthe federal government, right?
Speaker 1 (11:13):
Um, I just I, I just I have to.
So I, if it was me, because younever asked me questions, but
if it was me I was going to askyou a question.
Speaker 2 (11:22):
But you keep chiming in.
Speaker 1 (11:25):
You never ask me any questions.
Speaker 2 (11:26):
I was going to ask you a question, but you keep
chiming in.
Ask your question.
Tell us, tell us, everybodydoes Nii interrupt me before I
can actually ever get him to apoint where I can ask a question
.
Speaker 1 (11:39):
Let us know, alfred, don't plug anything in, alfred.
I know I was going to putsomething in, that's right.
Speaker 2 (11:44):
Alfred, you can plug in all the times when he's
interrupted me.
Speaker 1 (11:47):
Don't put nothing in there.
Okay, alfred, you're on my side, yo, you're on my side side.
Whatever, knowing all thisthing was going on, I knew I
wanted to be a doctor and I waswilling to sacrifice anything,
but I think I would be sweatingbricks knowing that all of these
.
I'd be sweating bricks knowingthat Because, for me, the way
(12:09):
when I was applying, I knew Iwas applying to med school
without, like, I wasn't going toask my parents for jack right,
mainly because yo, like, by thetime I was like yo, I had been
like six or seven FASTAs inright.
So I know the jig was up withmy parents, like they can't
afford this.
You know what I'm saying.
So, like, if y'all don't know,like, when you put in the FAFSAs
, you got to see you need yourparents' tax returns, you need
(12:31):
your parents' gross income,whatever this or that.
I know they ain't got it.
So when I'm going to med schoolor applying to med school, I you
know.
So that's the other thingthat's really interesting.
It's like, you know, youprobably got parents who are
(12:53):
already like hemmed up fromdoing a Parent PLUS loan for
college and we just talkingabout one person.
What if they got two kids inschool, two kids, three kids,
and you're going to be like yomom, dad, I would have kept
going, but, like for me, what Ireally think about, too, is, you
(13:14):
know, we don't see a lot ofdropouts.
We don't see a lot of dropouts.
So that's what I who goingthrough.
I think I eventually have todrop out right.
Speaker 2 (13:22):
So the attrition rate may be affected, will be
affected just due to the factthat people don't have good
enough credit to get privateloans.
(13:44):
They don't have a good you know, they don't have a cosigner,
they don't have a cosigner withgood credit, right, like all of
this.
Here's my question to you,before you interrupt me Because
you had to get a cosigner.
Speaker 1 (13:56):
Look, look, look, look I did.
Man Look Go ahead.
Speaker 2 (14:00):
Look.
Speaker 1 (14:01):
That's peace, that's peace, that's peace, go ahead.
Speaker 2 (14:04):
So here's my question to you.
My question to you is would ithave changed, would it have
changed the your way of applyingto school if you knew you only
had a hundred thousand dollarsguaranteed by the federal
government?
Speaker 1 (14:24):
oh, that's a good question, y'all.
Um, probably what I would do inthat situation is I'd be looking
at all the schools that offersome type of scholarship in some
form or fashion, like I'd betrying to prioritize.
Is there any type of way that Icould go to, like ohio u or any
(14:44):
of those type of schools thatsay, hey, yo, if you come to the
school, we'll pay x, y and ztowards your student loan debt,
but you got to the school, we'llpay X, y and Z towards your
student loan debt, but you gotto stay in this state for five
years.
That's what I would beprioritizing.
But, as we all know, it's likelook, you just kind of get in
where you fit in when you'reapplying to med school, give me
(15:06):
some type of student loanrepayment debt, some type of
scholarship.
That's known for giving peoplescholarships.
Those are the type of thingsthat I would be focused on, but
I'd be hella nervous about itbecause I'd be like yo, I know
I'd definitely be thinking aboutyo, I'm applying to this, I'm
telling everybody, yo, I'm goingto med school, and then you get
in.
Speaker 2 (15:35):
And then next, you know, I'm worried like my second
year year, I'm gonna have tohit up, hit up people.
I'm like yo, I need you to be acosign on this.
Yeah, can't pay sign.
Yeah, I think my, I think myapproach probably would have
been I would have hit everystate school in new york.
I put it in every school.
Well, because the tuitions areat least lower, right.
And so it's like OK, even evenif I had to go over one hundred
(15:56):
thousand, it's better to go, youknow, a few thousand more
instead of one hundred thousandmore over one hundred thousand.
You understand what I'm saying?
Like it, definitely.
I think I would have startedprioritizing schools by tuition.
I'd have been like this is a,you know, this is low, this is
(16:18):
low, this is.
I would have been ranking themfrom lowest tuition to highest
tuition.
That's where, that's where mything would have gone.
And so so the question now isif this thing does go through.
Speaker 1 (16:37):
And so so the question now is if this thing
does go through, are the schoolswith the lowest tuition going
to be the most competitive forcertain demographics?
Oh well, first of all, theschools that offer the schools
that offer free tuition,everybody's going to be applying
Exactly, exactly.
So that's a good question.
I got a question back to you.
Those schools that are superselective you know that you know
are known for just maybe onlyhaving a small class size Right.
(17:00):
Are they going to have to beforced to increase that class
size?
Speaker 2 (17:03):
I don't think so.
I don't think so.
Why would they, though?
What would be the rationale forthat?
Speaker 1 (17:10):
Why would they, though?
What would be the rationale forthat?
I don't know.
Speaker 2 (17:14):
You know, like for example, like what is Morehouse
do?
Well, morehouse doubled theirsize, like a few years ago.
Speaker 1 (17:19):
Oh, they did.
Speaker 2 (17:20):
Yeah, morehouse got really big a couple like not a
couple, but a few years back.
I don't know if they doubled it, I shouldn't say they doubled
it, but they, they increasedtheir class size pretty
significantly a few years back.
Speaker 1 (17:33):
Listen.
If you're listening right nowand you're a med student, you're
a pre-med and you're not surewhat you want to do, yeah.
Speaker 2 (17:40):
Yeah.
Speaker 1 (17:40):
Start doing some pushups, start doing some
sit-ups.
Some monetary pushups, start,start getting on the treadmill,
the Mozempic, because, hey, yo,you're going to have to join a
meditator, you're going to haveto get fit.
That's the option.
Yo, that is the option.
Yo, you're going to have tostart getting into these.
Speaker 2 (17:59):
Yo, I'm laughing to stop from crying because no,
seriously.
And then National HealthService Corps.
Right, so you have NationalHealth Service Corps.
Which National?
Speaker 1 (18:09):
Health Service.
Speaker 2 (18:09):
Corps?
Right, yo, you got to startjuggling some push-ups.
So you have National HealthService Corps.
Which National Health ServiceCorps?
Right?
Probably their applications aregoing to go through the roof.
You know Absolutely.
Speaker 1 (18:22):
Like we got to get off this topic yo, we got to get
off this topic yo.
What's good everyone?
This is Dr Nii Yo.
This is the end of this segment.
I appreciate you for listening,but this ain Peace.
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