Matt from Pittsburgh called "The Ramsey Show" and said he is struggling with $157,000 in student loan debt.
The 23-year-old told co-hosts Jade Warshaw and John Delony he earns about $2,600 a month as a medical lab tech and cannot cover his bills while paying the loans. The co-hosts reviewed his numbers and said his $31,000 yearly take-home is the central barrier to reducing the balance.
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Income Gap Defines The Challenge
Matt said he studied engineering before switching to biochemistry, which caused him to lose his scholarship and graduate with lower earning power.
Warshaw asked about his expenses and learned he pays $550 in rent with utilities, has no car payment and spends about $200 on groceries and $250 on gasoline each month. The remaining amount goes toward four private loans and one federal loan.
Delony said a $31,000 income cannot support rent, food and major minimum payments. He said, "Right now you can't eat, dude."
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Co-Hosts Urge A Faster Income Strategy
Warshaw said a higher income increases how much he can pay toward the loans each year. She said doubling his income could raise yearly progress to about $30,000, while tripling it could near $45,000. She added that his low monthly expenses give him flexibility to shift jobs without taking on additional financial pressure.
Delony said advanced degrees can remain long-term goals but should not come before meeting basic costs. He suggested stacking additional hospital shifts or moving into retail, fast food, or warehouse roles if those raise income more quickly.
Warshaw said the workload may be demanding but temporary and could shorten what might otherwise take many years.
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Caller Reacts To The Reality Check
Matt said the advice was "relieving," because he suspected his current job could not support both living expenses and debt payments. He said he felt trapped by the need for another degree to advance in his field.
Warshaw said many young workers face the same disappointment after realizing their degree does not lead to the income they expected. She encouraged him to accept the reality of the situation and focus on the actions he can take now to move forward.
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