New Orleans woman’s dad blames his kids for being ‘broke’ — but Dave Ramsey accuses him of not being ‘a man of honor’

When Renee from New Orleans called into The Ramsey Show, she revealed a painful family story: her dad consolidated three Parent PLUS loans — taken out years ago for his daughters' education — and now, as he nears retirement, complains his kids are “the reason he’s broke."

Personal finance celebrity Dave Ramsey, visibly frustrated, told Renee he felt disappointed by her father’s “guilt tripping.” He urged him to “be a man of honor,” pay his own dues and stop unloading the consequences of his decisions onto his adult children.

“[He] signed up for this trip. Don’t dump it on your kids every time they come over for Thanksgiving,” Ramsey declared.

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Loan or gift? A gray area

The Parent PLUS Loan is available to parents of college-bound children to help pay for education expenses not covered by other financial aid. The loans are credit-based, not based on the family’s income or assets.

Renee admitted that there was a vague understanding that the siblings would pitch in after graduating, but that plan quickly dissolved. When discussing the possibility of the sisters paying the loans off, Renee’s mother insists none of them pay unless all three contribute equally.