Mar 27, 2026
Ariel and her husband Darren have been reading Dave Ramsey's book for financial advice, but they've hit a roadblock. Though they own their New Jersey home outright and Darren has held a stable government job in data analytics for 25 years, Ariel racked up $300,000 in student loan debt while pursuing a degree in social work.
To complicate things further, they just welcomed their first child, and Ariel has a disability that prevents her from driving, which limits her employment options.
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Darren brings home around $5,000 a month after taxes and works a part-time job on top of that and Ariel currently stays home with their child. This makes that $300,000 of debt feel like an unclimbable mountain.
The couple called into The Ramsey Show looking for a way out and his advice was blunt.
Ramsey said there are two big changes that need to happen: increase your income and rethink where you live and work. If Ariel started working part-time or Darren moved to the private sector, they could bring in more income. Meanwhile moving to a lower cost-of-living area could lower their regular expenses and free up their budget for debt repayment (1).
When a degree doesn't pay for itself
While Ariel owes more than average for her student loans, her problem isn't uncommon. Student loan debt has become one of the biggest financial burdens facing Americans. According to the Education Data Initiative, 42.5 million borrowers carry federal student loan debt, with the average borrower owing $39,075 (2).
That being said, her student loan debt is evidence of a bigger issue. If a doctor is in $300,000 worth of student debt but making $250,000 a year, that is a much different situation. But for Ariel, there's a mismatch between what her degree cost and what the field actually pays.
Social workers earn a median of $61,330 a year, or about $29.49 an hour, according to the Bureau of Labor Statistics (3). At that salary, even if she used a significant chunk of every paycheck to pay her loans, it could take decades to pay them off.
Ariel's professors encouraged her to pursue Public Service Loan Forgiveness (PSLF). This program allows individuals employed by the government or non-profits to apply for student loan forgiveness after making 120 qualifying monthly payments on their loan while working for an eligible employer. Essentially, if you work for 10 years and make loan payments during that time, your loans can be forgiven (4).
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However, the program has been targeted for cuts by political leaders and has a long backlog, so there are no guarantees.
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What to do if you're in a mountain of student debt
The first lesson here is for anyone still in school, or considering going back: research the return on investment before you borrow money for a degree. If you're already in debt, here's where to start.
Look for ways to increase your income
The faster you can close the gap between what comes in and what goes out, the faster the debt disappears. A side hustle, a promotion or a career pivot are all viable ways to increase your income depending on what is best for you and your family.
The goal is simple — earn more money so you can pay down the debt faster. This could also mean considering a move to a lower cost-of-living area where your income stretches further.
Look for assistance programs
If you have a disability, like Ariel, you may qualify for Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI), which could provide additional income. It's also worth looking into PSLF if you work for an eligible employer, as long as you don't build your entire financial plan around the prospect of loan forgiveness.
Look into refinancing
If any of your loans are private, refinancing could lower your interest rates and reduce your required monthly payments, helping you repay the principal faster.
If you have federal loans you can refinance them into private loans, but this means you can't access income-driven repayment plans. Calling your loan provider might help you get a better handle on payments through forbearance or income-based repayment plans.
Build a budget and track debt strategically
Start by making a budget and making sure you know where every dollar goes. Then, make a plan to tackle the debt. Two of the most popular debt payoff strategies are the avalanche method and the snowball method. The former involves tackling the highest-interest debt first, and the latter focuses on the smallest balances first.
Digging out of student loan debt is hard, but not impossible. If you haven't borrowed yet, do the math first. If you already have debt, make a plan and attack it. The debt won't wait, and neither should you.
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
The Ramsey Show Highlights (1); Education Data Initiative (2); U.S. Bureau of Labor Statistics (3); Federal Student Aid (4)
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Danielle is a personal finance writer based in Ohio. Her work has appeared in numerous publications including Motley Fool and Business Insider. She believes financial literacy key to helping people build a life they love.
