Personal finance expert Dave Ramsey strongly warned an engaged caller against taking on $200,000 in student loans for CRNA school, calling the timing "selfish and strange" and cautioning it could endanger both marriage and family plans.
$200,000 Student Loan Warning From Ramsey
On Monday, an episode of The Ramsey Show, caller Josh asked for advice about his fiancée entering CRNA school while planning to start a family, noting the program would create roughly $200,000 in student debt.
Ramsey reacted immediately, saying, "You do know who you called, right? We've never told anyone to go into debt in our lives, much less $200,000 one month after you get married. That takes my breath away."
Financial Risks Of Student Loans Before Marriage
Josh tried to justify the debt based on potential future earnings, but Ramsey warned, "Life doesn’t turn out exactly like your little plan ever… the borrower is slave to the lender 100% of the time."
Co-host George Kamel advised the couple not to take on the debt right before marriage.
George suggested waiting until after the baby arrives and the couple has saved money, saying, "Maybe then we pursue it. You're in a good spot financially."
Ramsey added, "The concept of going and getting this degree is a very wise decision,“ but the timing and method are very “unwise and selfish and strange and immature.”
“Find another way for it to get paid for” and “make sure that this is what she wants to do.”
Millennials Struggle With Debt Traps And Risky Financial Moves
Two callers shared their financial challenges on The Ramsey Show last week.
A 20-year-old Indianapolis truck driver, Jack, called bout his $60,000 RV loan at 18% interest, which is barely reducing the principal and costing him hundreds monthly.
Hosts Ken Coleman and Jade Warshaw advised selling the RV immediately, even if it requires a small personal loan to cover the remaining balance, warning that waiting would lead to further depreciation.
Jack had tried renting the RV to offset costs, but acting quickly is the fastest way to reduce debt and regain financial stability.
In a separate call, a former commercial real estate credit analyst, out of work for seven months, juggles four mortgages, a car loan, and a credit card while driving for Uber.
He considered a risky mortgage transfer scheme, but Dave Ramsey warned it was unsafe due to due-on-sale clauses.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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