¶ The One Big Beautiful Bill Explained
The one big beautiful bill . A portion of it is to cap federal student loans at $20,000 per person per year . It's a problem , y'all . There's a total lifetime limit of $100,000 . That's right .
If this bill goes through , you have to know that there's going to be a significant portion of your student loan that is not going to have any federal funding to it and you're going to probably have to prepare yourself for using private loans or waiting for family to help you out . Yo , what's good , everybody .
Welcome back to another episode of Docs Outside the Box . Yo .
I'm your host , dr Nii , on location , joined by my tired and lovely co-host , Dr Renee . Wake up , yeah , what's up , guys , kids , yo them kids . Oh , we also had some travel , we had some travel too .
So yo , everybody , yo , we haven't recorded . I went back and looked at the records . It's been basically since , uh , the first week in may that we really look forward and , um , yo , we all , we owe you guys a couple of episodes , but life be life and an apology . And , as Renee was alluding to , yo , life is life .
And then we was just traveling all over the place , from me working to traveling , just doing various different things . Life was life . But listen , we love talking to you guys and it didn't take . Well , actually it took a lot of pushing from our team , including Kiara as well as Audrey , to be like yo , what's going on ?
You have a quarter or what , where y'all at , we all over there , but we are fresh back from .
Before we jump into this episode , like let's jump into some quick shout outs , like we are fresh back from coming from hot ass , houston , um , texas , um , as you all know texas , if you don't know , texas , my favorite , not my favorite place to be , um , but is it better than boston ? It's definitely better than boston .
Houston , for so many reasons , is better than Boston . One thing I love the weather . I love the weather , I love the diversity , but that's pretty much it . And we were there because our brother , our friend from since 2003 , 2004, .
Drate uh , got married and we went there to go and support our brother and just , you know , have fun and participate in the open bar . So shout out to you that was hitting , that open bar was hitting
¶ Welcome Back and Catching Up
. But no , no , dr nate got married to his lovely wife . Congratulations , you guys make a beautiful couple and , um , it was really fun .
It was really fun we had a great time , good time , saw some uh some old friends yeah , saw some old friends that we didn't even expect to see there , uh , from med school . So that was .
That was nice because we name them . We should name them right , because I think we had a point now where people know we talk about them on the show , like today . I was in a CT scanner . Oh Lord , here we go . Who are you talking about on the show now , patient ? And while I'm scanning a patient , this is him saying it .
While I'm scanning a patient , I'm going through TikTok and I see this like bald-headed doctor talking with his wife about X , y and Z , and I'm like yo , I know that doctor , and I turn around and I'm like yo , did you give me a like , though ? You know you talking all this stuff ? A follow , a subscribe , you know please ?
So then everybody's like yo , you be TikTok-ing . I'm like I'm kind of TikTok-ing and you know we kind of just take clips and put it on TikTok but we won't be doing what the real TikTokers do . But it just let me think about god damn , people actually listen and it's kind of scary .
The algorithm is on your side . Yeah , you do be talking about people .
Not personally . I don't talk about anybody personally on this , but we kind of do be talking about y'all .
Yeah , I mean . Well , the only way you could talk about somebody is personally . Do you mean that you don't say bad things about people ?
No , I don't talk about anybody personally on the show . What do you mean ? What does that mean ? Like I don't , like you know how , like you fictionalize people , Like sometimes .
I may fictionalize people , but I don't really fictionalize people Like what does that mean I'm ? I have no understanding , I'm tired , you ?
you just going to have to say yeah , like , for example , like I would never name the CT tech by her name , right , like I just fictionalized it just by now , just by what I just did , right , but I'm talking about someone that I have in mind , right ?
But anyway , basically , what I'm trying to say is that when people are listening , or when I know people are listening , there's a little bit of like oh , like we got to be careful about what we say well , you don't have to be careful about it , but you are careful about what you say , notice .
I say you Because you always be talking about people .
Shout out to Dr Dajara , shout out to Dr Uche , shout out to Dr Tyree , shout out to Dr Thais . Yay , who else did we ?
see there . Well , we expected to see Thais . And listen , Ty and Ty . Y'all gonna have to . I don't know . But you know what's really funny ? So we're really good friends with Thais and Tyree and they're both . Their nicknames are both Ty . But what's really funny is that , no matter when you say tie , you always know which one we're talking about .
Have you ever , like , realized that ? No , I've realized that it doesn't matter which of our friends that we're talking to . If I say ty , they know which one I'm talking about .
I don't have to say a full name in that crazy because you you've seen them both in the same room and you were anyway you're looking at , we have mutual friends .
No , I don't I mean like if I'm talking to a mutual friend about Ty , they know which one I'm talking about , without me having to say Tyree or Tyese .
But what's also weird . But I think there's way more nuance in that conversation that you're having with that person . You think so , so they can deduce who you're talking about . Like , I think you're way oversimplifying it just to make a point on the show , and that's what I do , so I can recognize when you're doing it . So just don't do it Really .
I'm pod .
Now You're podding . That's what it is . You're podding , I caught you . But listen , shout out also to my nephew , raheem hey , yo , yes , congratulations on getting your MPH . Yes of you , super proud of you , yep , yep . And also shout out to my niece , britney , on graduating from nursing school . Yay , yay , yay . Shout out to you .
So we've just been all over the place , right , like we just hasn't just been walk , uh , working and just record , like we ain't got time to record . I'm graduations and flying to texas and avoiding newark airport , like it's just a lot of stuff going on . Yo , because I ain't flying nowhere near newark . Yo , if , y , if , y'all don't know .
Y'all need to go check it out 60 to 90 minutes of dead airspace .
Yeah , I don't think so . In my own backyard who would have thought you can't land in Newark ? Hell , no .
Nope , but that's not what this show is about .
That's not what this show is about , Folks .
¶ Wedding, Friends, and Shoutouts
Your exciting new medical career it's just been hit with a serious illness or injury that stops you from earning a paycheck just when you need it most . Check out what Jamie Fleissner of Set for Life Insurance said back on episode 176 about having disability insurance early in your career .
The real reason to get it early on is really twofold . One is to protect your insurability . So if you are healthy and you can obtain the coverage , you also pre-approve yourself to be able to buy more in the future . So down the road , as your income does increase , you don't have to answer additional medical questions .
All you have to do is show that your income is increased and you can buy more benefits at that time . No medical questions asked .
Protect your income , secure your future . Check out setforlifeinsurancecom . No medical questions asked . Protect your income , secure your future . Check out setforlifeinsurancecom . Let's jump into this because you're tired . I don't know what your expiration date is .
But let's jump into my earbuds only got 47% .
Let's jump into this conversation . We got a lot to talk about . We got a lot to talk about . Let's talk about how this is going to affect something that's going to affect med students actually pre-meds , med students attendings , anybody who needs to take out loans to go to professional school . Let's talk about the one big , beautiful bill Boom . Is it beautiful ?
Alfred , put that up . Put that up there . Is it beautiful ? It's beautiful . For some . It's beautiful if you're trying to get a tax cut . It's beautiful , right , it's beautiful , it's beautiful so y'all , what is the one big , beautiful you make ?
a bill that's literally a parody of the of you like they don't even make no sense how it might change your student loan future guys .
So listen , we're going to break down this one beautiful bill , or one big beautiful bill , just a little bit . So , basically , it was introduced by Senator Josh Hawley , republican out of Missouri . He's a doof . If you guys don't remember , he was part of some of those people .
He was out there doing this to the people in 2020 before they came and stormed the Capitol or stormed the Congress .
What was he doing ? The people who are listening can't see .
He put his fist up and was kind of giving a shout out to the folks who were getting ready to kind of storm the Congress . So he's not one of my favorite people , but anyway it's designed to address ballooning college debt and limit federal government exposure . And basically here is the core proposal .
I got to keep notes on this because there's a lot to this , guys , and y'all know I don't really do politics like that , but the one big beautiful bill , a portion of it is to cap federal student loans at $20,000 per person per year . It's a problem , y'all . The reason why is there's a total lifetime limit of $100,000 . That's right .
Right , how much was our debt before ? How much was our debt before deferment , and all that including y'all med students who are listening right now .
So , um , it's a problem , y'all . So what this means for med students right now is , look we talked about this on many , many episodes that the average student loan debt at this point right now is probably close to $300,000 .
So with a hundred thousand dollar cap , students would have to go to cause you're going to exhaust the federal student loans that you're eligible for , right ? So that means you're going to reach your cap on how much you can take out in federal student loans , and the reason why that's a big deal is federal student loans are protected , right ?
Well , excuse me , there's a lot of protections that you get with federal student loans , right , in terms of default , in terms of if you can't pay , in terms of if there's COVID , all those different things that come along with federal student loan protections . If you exhaust that , you got to get private loan right , which could be a problem .
We had to get private loans to get a portion of our
¶ Disability Insurance for Medical Careers
education , particularly our MBAs . You got to get scholarships and , as we all know and if you don't know , if you're an undergrad student right now , if you're a pre-med student , ain't really that many scholarships in med school and , like you thought looking for a scholarship , trying to get into college was hard .
Try to find a scholarship that's going to send you to med school . It's pretty much non-existent , right ? Or yo daddy , yo daddy warbucks , you're gonna go to your parents , you're gonna have to find a rich uncle , you're gonna have to have a rich auntie , somebody who's gonna have to make up that difference .
But you up shits creek , basically , and um , look , people are upset about this because it already passed through congress or , excuse me , it already passed through the house and now the senate has to go through and do that bullshit and it'll get sent back to the Congress . But the way in which the Senate works and the Congress and the House is right now .
You know this is coming through and this is going to disproportionately affect first generation students . It's going to affect underrepresented medicine students and what are underrepresented , because that thing changes all the time .
It's the same thing . They just added more .
What's the same thing mean ? What's the definition of an underrepresented ?
Black , Latino , Native American , and then they added a whole bunch more . So , either way , people getting affected and lower income families , Lower income families . So you know this is a problem folks . Yeah , the issue is that the bill , while it does cap your income the limit right it limits how much you can borrow from the federal government .
What it doesn't do is cap tuition , so that tuition will continue to increase .
Well . So , yes , you got a good point there .
So one of the things that they're proposing in this that doesn't make I don't know how they're they're gonna make this work is if they are saying that the authors who wrote this said that if there is unpaid student loan debt , that certain schools will have to take responsibility for having to pay a portion of that for the students .
Oh yeah , I did read that too . I read that too . It's not clear who's going to keep track of this right ? The Department of Education is already gutted . Right Before it was gutted , they barely could follow how many people were really eligible for PSLF , right . So now you're talking about a department of education that barely exists at this point , right now .
So yeah , if there are a significant amount of students who are graduating from your school and they are not reaching certain milestones that are kind of like , you know , can't find a job , or they have unpaid student loan debt and they are struggling in some form or fashion , and you're increasing your tuition and you're not showing that you can reach these milestones
, you as an institution may have to pay some amount , an arbitrary amount .
Yeah , like a cost share .
Yeah , and then that money that goes towards ? I don't understand how this works , but apparently some of that money that the institution is going to have to pay will go into this pool that'll go towards schools that are reaching certain metrics that the authors of this bill
¶ Federal Loan Caps and Their Impact
deem to be basically worthy to get this money . It's crazy . I get what they're trying to say . Basically , they're saying look the schools , y'all need to stop raising your prices and not offering any increased value .
And if you're graduating , if you have a whole bunch of students who are graduating with all this debt , they probably can't find a job or whatever we propose to be . They're not getting value . You're going to have some type of responsibility . The problem is you don't have accountability . Right , there is no account of like .
Who's going to be accountable for this , this , this is some type of amorphous thing that's in the sky .
You remember , years ago we listened to a podcast about I get scared when you make calls like that . Remember , remember , like a few years ago , we listened to this podcast and it was about this gentleman who was creating an online university . Yes , I forget the name of the .
I feel like it was like Mission University , but there's something else called Mission University that's not at all affiliated with what I'm talking about , but that university was supposed to be like 100% free . And then what they would do is they would guarantee that you would get a job .
And once you got a job , what they would do is they would say , okay , a portion of your salary .
This ain't med school , this was college , yeah .
Yeah , college .
Yeah , yeah , it was college .
Not medical school , I'm talking about college . I know exactly what you're talking about . Yep , yeah , but then a portion of your salary would then go back to the university to essentially pay the tuition that you had not paid over the last four years .
Okay , but the reason that they did that was because they guaranteed that you had a job , that you had a job , so there was an incentive for the university to ensure that you would get a job . Otherwise , the university would not get paid . That university doesn't actually exist , so , or at least exist anymore .
I don't know if it actually ever did exist , but it certainly was something that was talked about , but I find it very interesting that that is essentially what this what is it ?
Big , beautiful Bill is suggesting yeah , One Big Beautiful .
Bill , One Big Beautiful Bill , is suggesting considering that at least . At least in that case , yeah , it didn't work .
What's good everyone . This is Dr Nii yo . This is the end of this segment . I appreciate you for listening , but this ain't the end . If you want more , go ahead and click the next button on your favorite podcast app . Listen . That's next for more banter between me and Dr Rene . That's next for more topics . That's next for more segments . Listen .
Did you hit next yet ? Go ahead and click next . Hit it next . Peace .