Dave Ramsey Advises Against $200,000 Student Loan Debt Before Marriage

The Caller's Situation

• 💍 A caller named Josh is planning to marry in a month and start a family soon after.
• 🎓 His fiancée is accepted into CRNA school, which will incur approximately $200,000 in student loan debt.
• 💰 He notes that his fiancée's current nursing salary is around $70,000, while the CRNA role could earn close to $200,000 annually.

Ramsey's Immediate Reaction

• 🚫 Dave Ramsey expresses immediate disapproval, stating he has never advised anyone to take on debt, especially not $200,000 just before marriage.
• ⚠️ He highlights the unpredictability of life, citing an example of a doctor with $250,000 in debt whose plans were derailed by a child with special needs.
• 💔 Ramsey paints a potential future scenario where the fiancée wants to stay home with a child, creating a conflict between emotional desires and financial obligations.

The Risks of Student Loan Debt in Marriage

• 📉 The primary concern is that life rarely goes exactly as planned, and relying on future high earnings to manage debt is an unwise assumption.
• 💔 Ramsey warns that conflicting dreams, such as one partner wanting to stay home with a child versus the need to work to pay off debt, can lead to a nightmare scenario.
• 💥 He emphasizes that money fights are the number one cause of divorce in North America, and being misaligned on debt entering marriage is a significant problem.

Alternative Perspectives and Advice

• 💡 While acknowledging CRNA as a high-income field with significant potential, Ramsey stresses that the timing and method of acquiring the debt are unwise, selfish, and immature.
• ⏳ He suggests waiting until after the baby is born and the couple has saved money, or finding another way to finance the education at a later stage.
• 🚫 Ramsey strongly advises against taking on this debt, stating, "I love you guys. I don't want you to do this. I want you to find another way."

Personal Anecdote on Debt

• 📈 Dave Ramsey shares his own experience of losing everything despite being successful in real estate, due to a banker calling his notes due.
• 💔 This led to a period of financial ruin, with utilities cut off, and his marriage nearly ending while caring for a new baby and a toddler.
• 🔗 He reiterates the principle that the borrower is slave to the lender and warns against entering marriage with such a significant financial burden.