Core Insights - A 23-year-old woman from Houston discovered a $20,000 student loan taken out in her name without her knowledge, potentially by her mother [1][2] - The woman, Amanda, is a teacher earning approximately $48,000 annually and was unaware of her credit history until alerted by her bank [2] - The loan in question was taken out during her final year of college, and Amanda believes it exceeds reasonable education or living expenses [2][3] Group 1 - Amanda was blindsided by the discovery of the loan, which she learned about through a credit alert indicating a drop in her credit score due to accrued interest [1] - She had initially agreed to a $20,000 loan for tuition, but a second $20,000 loan appeared, which she disputes as excessive [2] - Amanda's living expenses were not close to the claimed amount, as her mother only paid for her rent in a shared living situation [3] Group 2 - Financial advisor Dave Ramsey presented Amanda with two difficult options: report the loan as identity theft or pay it off herself [4] - Reporting the loan involves contacting the loan servicer and filing a police report, despite the alleged perpetrator being her mother [4] - Taking out a loan in someone else's name without authorization is classified as identity theft, regardless of the relationship [4]

Core Insights - A 23-year-old caller revealed that her mother took out tens of thousands of dollars in student loans in her name without her knowledge, leading to significant financial and emotional distress [1][2]. Group 1: Loan Discovery - The caller, Amanda, initially believed she had one $20,000 student loan for her final year of college but later discovered a second loan exceeding $20,000, which negatively impacted her credit score [2][3]. - Amanda was unaware of her credit score until she received an alert indicating a drop, highlighting her lack of knowledge about her financial situation [3][4]. Group 2: Loan Details and Family Dynamics - The first loan of $20,000 was assumed to cover tuition and living expenses, but Amanda questioned the necessity of the amount, given her tuition was approximately $17,000 [3][4]. - The second loan was particularly perplexing, as Amanda stated her living expenses could not justify an additional $20,000, and she had not signed for this loan [4][5]. Group 3: Expert Commentary and Options - Personal finance expert Dave Ramsey characterized the situation as fraud, emphasizing the misuse of taxpayer-backed student loans and expressing anger over the mother's actions [6]. - Ramsey outlined two difficult options for Amanda: reporting the loan as identity theft and involving law enforcement, despite the perpetrator being her own mother [6].

[Music] [Applause] How many people have heard of cyber security. >> Good. Keep your hands up.We're going to play a little game. I want you to put a finger down. If you've ever clicked on a link not knowing where it's gonna take you, bonus points if you've done it in public, put a finger down if you've connected to free Wi-Fi and accessed maybe some sensitive information talking photos, you know.And lastly, I might not even look for this one. Put a finger down if you've used the same password for multiple ac ...