Dave Ramsey advised a woman with $628,000 in debt and four degrees to focus on earning more money rather than pursuing more education. Sandra has two undergraduate degrees and two master’s degrees, but Ramsey suggested she consider becoming a lawyer for a potential $300,000 annual income.

Sandra, a single mom with a $115,000 salary and significant debt, sought guidance from Dave Ramsey on tackling her financial situation. With a $335,000 mortgage, $33,000 in credit card debt, and $260,000 in student loans, Ramsey emphasized the need for Sandra to focus on increasing her income to dig out of her financial hole.

Ramsey and his co-host, Ken Coleman, suggested that Sandra should consider passing the bar exam to become an attorney, potentially earning $300,000 a year. In the meantime, Sandra could pursue a side hustle leveraging her intellectual property knowledge or moonlight as a law professor to earn extra income.

The total amount of student debt in America stands at $1.184 trillion, with the average American carrying a balance of $39,075. Over 11% of student loan dollars are in delinquency, highlighting the financial strain even strong earners like Sandra can face after taking on substantial student debt.

To tackle student debt effectively, individuals should calculate their total debt, interest rates, and loan types. Using methods like the Avalanche Method or Snowball Method can help prioritize repayments. Selecting a high-return education program, like nursing or engineering, can also prevent overwhelming student debt in the future.

Read more at Yahoo Finance: Dave Ramsey tells woman with 4 degrees, 6-figure salary and $628,000 debt she fell for a lie. Here’s what he advises