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Abby, a medical school hopeful, called “The Ramsey Show” after discovering her mother intended to spend the family’s $400,000 college fund on a foreign exchange student rather than her.<\/p>\n
The student said <\/a>the 529 plan \u2014 which she believed was for her education \u2014 was controlled by her mother, who refused to share its balance and insisted Abby take on student loans for medical school.<\/p>\n Don’t Miss:<\/p>\n Financial expert Dave Ramsey and cohost John Delony reacted with disbelief as Abby said that her mother, who funded most of the account, wanted to redirect it toward the exchange student’s tuition.<\/p>\n Abby estimated the account held “over $400,000,” but said her mother wouldn’t give her an exact number.<\/p>\n Ramsey clarified that legally the account belonged to Abby’s mother, meaning she could use it as she pleased. Still, he questioned her decision, saying, “I don’t know on what planet she can’t help an exchange student and still have enough left for you to go to medical school out of $400,000.”<\/p>\n Delony added that it seemed the mother wanted her daughter to struggle through debt the same way she once did.<\/p>\n