The speaker predicts that student loan payments of $9,935 will soon become due, and while income-based repayment may lower monthly payments to around $50-$150, the individual will eventually have to pay back the debt taken out for cosmetology school.
"Payments are becoming due soon. And you're going to have to actually pay the bills that you chose to take out. Yeah, you deserve it. And I'm okay with income based repayment. That's okay. And luckily, you'll be on an older system of income based repayment instead of the newer systems that have been announced cuz that's for future borrowers if I'm not mistaken. But $9,935. I'm guessing with an income based thing, I it's going to be pretty cheap. Typically, I'd say you're about at 150 bucks. Traditionally, I'm going to say you're going to get moved down to 25 to 50. I'll do 50 just to be, you know, just to be safe as we make out the budget at the end."