re: Largest student loan debt you have ever heard...

$500K (med school)

60k, undergrad and MBA

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Briefly worked in admissions/financial aid for a (not highly regarded) private law school. Assuming no scholarship/grants etc., most kids were looking at between 250k - 300k. Most were SJW types committed to going the public interest route, banking on that loan forgiveness.

This wasn't the kind of school that churned out Big Law associates, but assuming one somehow managed to land a gig straight out making 150k-175k, I'd say they were still looking at getting F'd in the A for the next decade of their lives.

That was a large part of why I left. I couldn't stomach selling a garbage program for what we charged to wide-eyed, bushy tailed kids just trying to do well for themselves. They didn't know better and you can argue that they should have given the horror stories online, but I still think most universities are predatory. I see the bloated administrations and the party/travel budgets they have, all under the BS guise of """conferences""" which for some reason take place in expensive hotels in destination cities.

I'd venture to guess that less than 10% of what an average university spends its time/money on is beneficial for the students. Student success is far far far down the list of priorities at most institutions.

Sitting about 190 now..

$2500 a month for another 8 years left

Sigh... this shite sucks.

My sister in med school in some goofy Carribean school. Think the school is Saba? She is dumb. But whatever.

Something like $400K.

Edt: This is before interest. Not sure which have interest and how much interest. You would most likely need some crazy model in Excel to figure out.

ZERO.


full ride for all 4 years

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$160k big law job out of law school. Probably making $75k at a small shop. Interest will eat you up.

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This is crazy.

Plant life is the way to go, really. You can be a dumb Project Controls person and push $150K. Some usually have no degree.

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People have had a lot of trouble collecting this debt forgiveness program.

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People are stupid, too.

I may be eating some crow on this next year, but you need 4 and only 4 things:

1. Right kind of loans

2. Right kind of employment

3. Qualifying repayment plan

4. Make your 120 payments under #3


I'm not saying the servicers are blameless (some put out bad poop, some mismanaged their information about payments, etc.), but folks see they're going to get forgiven and don't read the fine print - they try to bring private loans in. No. They try to shoehorn ABA Non-profit Law Center work in. No. They try to get clever with their repayment plans. No.

The first people even theoretically eligible would have made their 120 payments in October 2017 - and no question, the system got overloaded.

But, most of the folks with problems getting forgiven don't meet all 4 mandatory requirements and aren't eligible for the program, thus skewing the approval numbers.

I have a $23k balance on my law school loan. Interest rate is 1.8%. I am in no rush to pay that off.