Nurse Pays Off Nearly $1M in Debt in Under 3 Years

Naseema McElroy's journey to become debt-free despite a high income

Mar. 28, 2026 at 10:49am by Ben Kaplan

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Naseema McElroy, a 44-year-old labor and delivery nurse in California, was making over $200,000 a year but found herself drowning in nearly $1 million in debt from student loans, mortgages, and other loans. Over the course of just three years, from 2015 to 2017, McElroy was able to eliminate almost all of her debt through budgeting, making extra payments, and selling her home.

Why it matters

This story highlights how even high-earning professionals can struggle with debt, and the importance of taking control of your finances through budgeting, aggressive debt repayment, and increasing income. It provides insights and tips for others looking to pay down substantial debt.

The details

Despite her six-figure income, McElroy owed $580,000 on her mortgage, $185,000 in student loans, $70,000 for a previous condo, and $22,000 on a 403(b) loan. She also had $51,000 in car payments, $29,000 in IRS debt, and a $15,000 divorce settlement. To tackle this debt, McElroy used the debt snowball method, paying off the smallest debts first while making minimum payments on the others. She also took on additional jobs and sold her home.

  • In 2015, McElroy was making over $200,000 as a labor and delivery nurse.
  • From 2015 to 2017, McElroy paid off nearly $1 million in debt.

The players

Naseema McElroy

A 44-year-old labor and delivery nurse in California who paid off nearly $1 million in debt in under three years.

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What they’re saying

“I realized that I was making 'way too much money to be in this precarious financial situation.”

— Naseema McElroy, Nurse

What’s next

McElroy's story provides inspiration and practical tips for others looking to aggressively pay down debt, including using the debt snowball method, increasing income through additional work, and selling assets to eliminate liabilities.

The takeaway

This case study demonstrates that even high-earning professionals can find themselves drowning in debt, and the importance of taking proactive steps to budget, repay debts, and build savings to achieve financial stability and security.