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Mar 15

$200,000 In Student Loan Debt And No Degree

I am a fan of Dave Ramsey, even if I don’t agree with every single thing he says. Still, I think he mostly has simple and solid advice. I like to watch the clip or two he posts on his YouTube Channel every day.

The other day he had this one lady on that absolutely had no clue about money. Appropriately titled $200,000 In Debt Making Minimum Wage. 

Here is a short rundown about her life:

  • She went to college (out of state) straight out of high school, for interior design…
  • Changed school (still out of state) and major to film and video production.
  • Never completed the degree, has about a year left. 
  • 10 years later she is in $200,000 in debt for student loans, mainly.
  • Earns minimum wage.
  • Puts all her money into an independent film together with her partner. 

 

Wow, just wow…

She really is just about clueless. Dave tried to help her, but I don’t think she is going to be able to do it.

For any of us into personal finance, this clip is just about as cringeworthy as it gets.

Check it out!

The decisions that some people make just amaze me sometimes.

Let me know what you think down below in a comment.

 

 

 

4 comments

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  1. Mrs. Picky Pincher

    Oh noooo, that poor lady. It sounds like she just doesn’t know what she wants out of life. She’s already learning from the school of hard knocks, so hopefully something will click. I really feel for her, but you have to take responsibility for your life at a certain point.
    Mrs. Picky Pincher recently posted…Putting the Humor In HumilityMy Profile

    1. MrDD

      28 with no degree and $200k in student loan debt? I am sure she has other debt too. What are the chances of retiring at a normal age for her? I dunno, but I would guess less than 1%. I don’t think she has, or will find, what it takes to conquer it all.

  2. Mustard Seed Money

    Wow that made me want to hide somewhere. That was painful to listen to. It’s like the old adage says, common sense is not that common 🙂 It took me a couple of years to fully understand that concept but I’m starting to understand more and more these days.
    Mustard Seed Money recently posted…Where to Store Your Down Payment MoneyMy Profile

    1. MrDD

      The thing is she is just one person that called Dave Ramsey about it, there has to be many more walking around the planet just like her – or worse off!

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