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Primary care (excluding peds, they don't get paid as much) typically starts in the $120-130s in the Midwest. Specialists, much more. $300k/5 years is doable.
Agree that with NYC taxes, net will be lucky to be over $100K
Student debt is one of the worst things that can happen to a person, and why I am very hesitant to consider grad school, even though I personally want to go.
One of the greatest freedoms we have in this country is the freedom to go bust, so if the economy tanks, we make a stupid decision, or whatever the case may be, we can start fresh and try again. Student loans operate outside of this paradigm, anchoring people for the rest of their lives, preventing them from buying cars or homes, and retarding economic activity.
By generally being nondischargable, there is essentially no risk to the lender (which is often the government and makes the rules - it's the fox guarding the henhouse). The schools get their money on the front end, so they get their cut no matter what they charge, and prices continue rising. With there being essentially no risk of the debt being written off, the rising amount of outstanding debt is of no consequence - the debt is always "fair game."
There are few if any natural market forces in the student loan scam.
The guys initial responses are absolutely brilliant
I'd be fascinated to know how so much debt accumulated. I think she took the "student debt it good debt" a bit too literally and went a bit nuts with spending and living it up for 3 or 4 years.
14.6% interest? LOL
Not wanting to accept it changing to 2%? LOL
Economics major?
LOL
No sympathy :-(
06-16-2014, 09:57 PM
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n/a posts
Quote:
Originally Posted by Emigrations
There are few if any natural market forces in the student loan scam.
True, but it's a trade off. If you want "natural market forces" you have to accept "natural market rates" which are nowhere near the single digits for an 18 year old with no collateral and no income who is taking out a loan that has a high rate of default (even with the Education Department's insanely generous definition of default).
True, but it's a trade off. If you want "natural market forces" you have to accept "natural market rates" which are nowhere near the single digits for an 18 year old with no collateral and no income who is taking out a loan that has a high rate of default (even with the Education Department's insanely generous definition of default).
Then that's what needs to be done. One needs to factor in the marketability of the major, as well as the school and amounted borrowed. Borrowing $10k to complete a philosophy degree isn't that high or a risk, but borrowing $100k for that same degree from a marginal liberal arts school is. Likewise, borrowing $50k for an engineering degree from Colorado School of Mines may be a sound investment, but borrowing $25k to major in photography can be very dumb.
Student loan industry needs some serious re-tooling and stricter regulation. I'm extremely pessimistic about the whole college industrial complex right now. Good thing I have no intention of having kids and wont ever have to deal with this again. (Paid mine off a long time ago and have no intention of going back to school.)
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Primary care (excluding peds, they don't get paid as much) typically starts in the $120-130s in the Midwest. Specialists, much more. $300k/5 years is doable.
