Ballesteros has a Doctor of Business Administration, a Master of Business Administration, and Bachelor of Business Administration from the University of the Incarnate Word in San Antonio, and a Master of Science in Finance and Economics from West Texas A&M University. She is a wife and mother of three, an advocate and volunteer in the autism and special needs community, and for immigrant and refugee rights. Her research interests include first-generation and underrepresented groups (specifically women and ethnic minorities) in the finance and economic marketplace, and in business, entrepreneurship and higher education.