The Burden of Debt

She Means Profit

06/03/21 • 32 min

“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