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

Posted on 11/9/19 at 4:26 pm to
Posted by greenbean
USAF Retired
Member since Feb 2019
4539 posts
Posted on 11/9/19 at 4:26 pm to
quote:

Sitting about 190 now..

$2500 a month for another 8 years left



Hopefully not for an Ole Miss law degree?
Posted by baldona
Florida
Member since Feb 2016
20386 posts
Posted on 11/9/19 at 4:34 pm to
quote:

The kicker of the story is that they were true swingers and had open relationship since dating in college. I told him he was an idiot for keeping the lifestyle going after growing into professionals and he needed to grow up. The month they paid off her student loan, she blind sided him with divorce. She had all the evidence against him due to the lifestyle and she hid her involvement. She got custody of their 1 child, got the renovated historic house, and no liability for any debt. Two years removed from the divorce and she is debt free, making $800k /yr, and lives in historic house probably worth $1M.


Don’t care had sex amiright?
Posted by BearsFan
Member since Mar 2016
1283 posts
Posted on 11/10/19 at 7:48 pm to
Know of a 500k+ young physician. Know several physician couples with probably 300k+ to 400k+. Honestly though, people reference med school debt, but don't normally give specific numbers. Osteopathic grads, private allopathic grads, and Caribbean grads all tend to have larger amounts (of course unless there family was paying).
Posted by tigersmanager
Member since Jun 2010
7296 posts
Posted on 11/10/19 at 8:29 pm to
Do people not work while going to school anymore? I understand some debt because you can't work full time but damn
Posted by OweO
Plaquemine, La
Member since Sep 2009
113889 posts
Posted on 11/10/19 at 8:31 pm to
quote:

has over $100k for a teaching degree.


Where did she go to school?
Posted by adp
Member since Jul 2015
2735 posts
Posted on 11/10/19 at 8:38 pm to
I've heard they don't want you to have a job in medical and or law. Not sure which one. Possibly both. Not sure why.
Posted by tigersmanager
Member since Jun 2010
7296 posts
Posted on 11/10/19 at 9:06 pm to
I can understand super demanding degrees like those but these kids getting degrees in normal could work
Posted by AUsteriskPride
Albuquerque, NM
Member since Feb 2011
18385 posts
Posted on 11/10/19 at 9:15 pm to
I know a doctor with half a million.
Posted by nvcowboyfan
James Turner Street, Birmingham,UK
Member since Nov 2007
2954 posts
Posted on 11/10/19 at 9:42 pm to
I was having this conversation with a friend since my son is going to college next year. He smiled and told me about his daughter and son in law who both went out of state to a California school and then to grad school for PhD in psychology. She has 600 k and he has 700 k so 1.3 million between them both with maybe 150k a year max in salary between the both of them
Totally nuts
Posted by Christopher Columbo
Member since Jun 2015
2086 posts
Posted on 11/10/19 at 10:52 pm to
Mine was 85k after barber college. After I got out I couldn't even afford blue shite for my combs.
Posted by GEAUXT
Member since Nov 2007
29208 posts
Posted on 11/11/19 at 6:42 am to
quote:

1.3 million between them both with maybe 150k a year max in salary between the both of them
Totally nuts


I think the vast majority of people plan on riding out the 20 or 25 years making bare minimum payments until its forgiven. The issue is that most people don't realize you have to pay income tax on the forgiven amount.

I'm completely spit balling these numbers, but...At 150k salary they can probably pay as little as ~$500 a month. So they'll end up paying back 120-150k back. By the end of repayment period their loans would have to be close to or over $2,000,000.

Good luck with that tax bill.
Posted by CitizenK
BR
Member since Aug 2019
9345 posts
Posted on 11/11/19 at 6:53 am to
A former tatted up female SJW tenant in NOLA. Over $250k for Tulane law school. Last I heard she's a dog walker in NYC.
This post was edited on 11/11/19 at 6:54 am
Posted by BigPerm30
Member since Aug 2011
25833 posts
Posted on 11/11/19 at 7:39 am to
quote:

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


Yeah but who the frick wants to work 70+ hours a week and on weekends and nights?
Posted by TheNolaClap
Jersey Shore (not fist pump)
Member since Jun 2012
1489 posts
Posted on 11/11/19 at 9:01 am to
Wife is over 300. Freaking veterinary school...
Posted by danilo
Member since Nov 2008
20059 posts
Posted on 11/11/19 at 9:10 am to
quote:

Wife is over 300. Freaking veterinary school...

How much do veterinaries make?
Posted by TheNolaClap
Jersey Shore (not fist pump)
Member since Jun 2012
1489 posts
Posted on 11/11/19 at 9:38 am to
Usually base salary is 80-110 depending on where you live and how long you been out of school. Can earn production on top of that as well so maybe up to 150 if performing some high dollar surgeries.
Posted by nvcowboyfan
James Turner Street, Birmingham,UK
Member since Nov 2007
2954 posts
Posted on 11/11/19 at 10:38 am to
think the vast majority of people plan on riding out the 20 or 25 years making bare minimum payments until its forgiven. The issue is that most people don't realize you have to pay income tax on the forgiven amount.

I'm completely spit balling these numbers, but...At 150k salary they can probably pay as little as ~$500 a month. So they'll end up paying back 120-150k back. By the end of repayment period their loans would have to be close to or over $2,000,000.

Good luck with that tax bill.


Yep. Last I heard both of them got jobs as psychologists with the department of corrections in california. Total income between the two of them right now is 120k
Posted by TheNolaClap
Jersey Shore (not fist pump)
Member since Jun 2012
1489 posts
Posted on 11/11/19 at 10:46 am to
It's been awhile since I looked, but isn't there special repayment terms if you are an employee of the government? We are just paying the income based minimums for my wife, filing taxes seperately, and putting money monthly into an account to pay for final "forgiven" tax amount in 20 years.
This post was edited on 11/11/19 at 10:47 am
Posted by LSUwag
Florida man
Member since Jan 2007
17319 posts
Posted on 11/11/19 at 11:21 am to
I know a your medical doctor couple who owe a combined $800,000.

They lived like a king and Queen. Caribbean medical school and even trips to Europe and Canada several times. Every penny was financed with student loans.

Hope they enjoy working until they’re 80.
Posted by Scruffy
Kansas City
Member since Jul 2011
72002 posts
Posted on 11/11/19 at 11:25 am to
quote:

I know a your medical doctor couple who owe a combined $800,000.

They lived like a king and Queen. Caribbean medical school and even trips to Europe and Canada several times. Every penny was financed with student loans.

Hope they enjoy working until they’re 80.
Scruffy knows a couple that has a combined $1 million in loans.

Caribbean school.

Their specialties can pay well enough to pay it off, but they do make purchases that make Scruffy confused.

Scruffy has a pretty hefty sum, but it is manageable.

Plus, Scruffy is one of those who is still driving his 06 Civic, and will be for the foreseeable future.
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