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Started By
Message
Anyone gone into over 150k in student loan debt?
Posted on 4/16/16 at 12:39 pm
Posted on 4/16/16 at 12:39 pm
If so, how long did it take you to pay it off. It's probably going to be in the neighborhood of 180k actually.
Background: Dental school. Haven't started yet.
I'm a little apprehensive about this amount of debt accruing 6% interest.
Background: Dental school. Haven't started yet.
I'm a little apprehensive about this amount of debt accruing 6% interest.
24
Posted on 4/16/16 at 12:41 pm to tuptiger
Yeah, I'm a Theatre Arts / African Woman Studies major at a private school no one has ever heard of.
Interest is bout tree fiddy.
Interest is bout tree fiddy.
This post was edited on 4/16/16 at 12:42 pm
Posted on 4/16/16 at 12:42 pm to tuptiger
You should have that paid off in less then 8 years being a dentist
Posted on 4/16/16 at 12:42 pm to tuptiger
You don't have to pay it back, all you have to do is outlive it.
Posted on 4/16/16 at 12:43 pm to tuptiger
My cousin said he was 190k after dental school. He is 2 years out now.
Posted on 4/16/16 at 12:43 pm to tuptiger
A dentist makes on average $150k/year. If you have $180k in student loan debt, that is $5,000/month for 36 months. Interest is tax deductible, so let's just call it 38 months. While this seems like a lot of money, the average dentist would still be clearing $90k after all those payments.
Posted on 4/16/16 at 12:44 pm to tuptiger
If you actually become a dentist you will be fine paying it back. Now if you drop out and don't finish school you are fricked.
Posted on 4/16/16 at 12:44 pm to Big Floppy TDs
$230K...haven't started paying yet. Interest is above 6. Goal to pay it off in 20 months staring in August
Posted on 4/16/16 at 12:46 pm to lsuesac
20 months? What are you planning to pay each month?
I just hate debt.
I just hate debt.
This post was edited on 4/16/16 at 12:49 pm
Posted on 4/16/16 at 12:49 pm to tuptiger
Sounds like he'll pay around $12k/mo. Which is doable if he's making around $200k/yr.
Posted on 4/16/16 at 12:50 pm to lsuesac
quote:
$230K...haven't started paying yet. Interest is above 6. Goal to pay it off in 20 months staring in August
you are going to pay $12,000 per month?.....damn, sonnnn....
Posted on 4/16/16 at 12:51 pm to tuptiger
could you work a few years in a rural area and have it forgiven?
Posted on 4/16/16 at 12:53 pm to StringedInstruments
The loan repayment for rural areas is generally capped. The military is probably the best route for loan repayment, but I'm not sure I am giddy about the lifestyle of the military.
They pay 40k per year toward the loans. In addition to a salary.
They pay 40k per year toward the loans. In addition to a salary.
This post was edited on 4/16/16 at 12:55 pm
Posted on 4/16/16 at 12:54 pm to Pelican fan99
quote:
Now if you drop out and don't finish school you are fricked.
Or if you are like a friend of mine and you finish dental school and then develop a severe allergy to acrylic during your dental residency....making it impossible to ever actually be a dentist. Then you are truly fricked.
She didn't tell me how much debt she has...just said she could have a decent house in Scottsdale for the amount of loans she has....so that is like 400-500k. She went to dental school at USC(apparently one of the more expensive dental schools?)
Posted on 4/16/16 at 12:55 pm to lsunurse
USC is suicidal in my opinion. It's 130k per year.
Posted on 4/16/16 at 12:57 pm to lsunurse
quote:
Or if you are like a friend of mine and you finish dental school and then develop a severe allergy to acrylic during your dental residency....making it impossible to ever actually be a dentist
damn, that is a disaster....
Posted on 4/16/16 at 12:57 pm to tuptiger
quote:
150k in student loan debt
Posted on 4/16/16 at 12:58 pm to tuptiger
quote:
130k per year
That is just about the most retarded thing I've ever heard
Posted on 4/16/16 at 1:00 pm to tuptiger
quote:HOLY shite. No education is worth that much.
USC is suicidal in my opinion. It's 130k per year.
Posted on 4/16/16 at 1:01 pm to GEAUXT
Jesus Christ I'm glad my kids school will be free.
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