Question: Shannon's husband recently revealed that he wants to go back to school. They are $200,000 in debt. Is this a smart idea? Her husband thinks so, but Dave tells Shannon why he is wrong.

Dave Ramsey's advice: I don't think this is wise. With that much debt and being a dentist, he needs to clean up his debt. Period. And he needs to listen to you, too. You guys have to live on nothing and clean up the mess. If he wants to save up and pay cash for his schooling after that, we can talk. But otherwise, he's wrong. No, no, no. You have a right to feel unstable here, because you have a husband who is offering up bad ideas. You guys make six figures, have kids and you're BROKE! Do not do this!

• Hear the call!

Question: Derrick is a resident physician with $250,000 in student loan debt. Next year, he'll increase his income from $40,000 to about $400,000. He has no retirement savings and only the student loan at 3.5% interest. He wants to save for retirement and buying a house before attacking the low-interest student loan. Dave disagrees and explains.

Dave Ramsey's advice: I'm thrilled that you will make that much, but I've met doctors 20 years older than you still trying to win with money by playing math games. You've done great to become a doctor and paid a price to make this kind of money, but doctors often get doc-itis. They hold their breath for so long while they go to school, then go out and lease 2 cars and buy a huge house. Keep living on nothing and get rid of this student loan in 2 years. You're used to living small, so keep doing it.

• Hear the call!

Question: Brett is a college senior who just got a $2,300 refund on his $7,000 loan from his university. His economics teacher told him to invest it and let it grow. Does Dave agree? Dave absolutely does not.

Dave Ramsey's advice: That's stupid advice. Unless you leave the invested money alone at least five years, then you shouldn't put the money in the stock market. It's too volatile for a five-year period. Apply this money directly to the student loan now. Send it back to the student loan people and tell them to apply it to the principal balance.

• Hear Dave tell it like it is