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$220,000 in student loan debt

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holuh3
Established Member

Re: $220,000 in student loan debt

Thanks.  I'm not all that young.  I went to medical school when I was almost 30, and had two kids already, which is how I ended up almost forty with a negative net worth and 13 years of higher education : )
Message 11 of 33
Anonymous
Not applicable

Re: $220,000 in student loan debt



@holuh3 wrote:
Thanks. I'm not all that young. I went to medical school when I was almost 30, and had two kids already, which is how I ended up almost forty with a negative net worth and 13 years of higher education : )





Wow!! Then you REALLY get a pat on the back!!!

Hubby's had several potential employers offer to send him back for his PhD and he's refused every one!! He already did 6 years and wouldn't do another single year if you paid him a gazillion dollars!!

Of course, I think that's because due to being in the gov, he has training durn nigh every month. A couple of months ago, it was training on how to dispose of lead paint chips. Irony: Paint chips, lead or not, have absolutely NOTHING to do with his job!! He's a Program Manager!! He either spends his time in meetings or coordinating testing!!!
Message 12 of 33
MidnightVoice
Super Contributor

Re: $220,000 in student loan debt



haulingthescoreup wrote:

If you have time, you might want to read the High-Achievers thread in my siggy. For young people (I'm 53 --everyone's young!), it can get you thinking about where you want to be over time.

Oh to be 53 again!!  Smiley Sad
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 13 of 33
MattH
Senior Contributor

Re: $220,000 in student loan debt


MidnightVoice wrote:...Oh to be 53 again!! Smiley Sad





http://en.wikipedia.org/wiki/Oliver_Wendell_Holmes,_Jr.

Holmes, in his last years, was walking down Pennsylvania Avenue with a friend, when a pretty girl passed. Holmes turned to look after her. Having done so, he sighed and said to his friend, "Ah, George, what wouldn't I give to be seventy-five again?"
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 14 of 33
haulingthescoreup
Moderator Emerita

Re: $220,000 in student loan debt


@MidnightVoice wrote:


@haulingthescoreup wrote:

If you have time, you might want to read the High-Achievers thread in my siggy. For young people (I'm 53 --everyone's young!), it can get you thinking about where you want to be over time.

Oh to be 53 again!! Smiley Sad



53 = young enough to want to, and old enough to know better.

I am referring to applying for new credit, of course.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 15 of 33
MidnightVoice
Super Contributor

Re: $220,000 in student loan debt



haulingthescoreup wrote:

53 = young enough to want to, and old enough to know better.

I am referring to applying for new credit, of course.

I am not as good as I once was, but I am good once as I ever was   Smiley Very Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 16 of 33
Anonymous
Not applicable

Re: $220,000 in student loan debt

Yea I thought med school was only $120k Yikes. I guess you take all those years of interest and it adds up a lot more.
Message 17 of 33
holuh3
Established Member

Re: $220,000 in student loan debt

Well, when your first student loan was in 1989...plus they don't tell you that you have to take three licensing exams ($300), three board exams ($7000), pay state licensing fees ($$$), maintain memership in professional organizations, and defer your loan payments but accrue interest during all the years of residency while you are working 80 hours a week but only making $40K.
Message 18 of 33
haulingthescoreup
Moderator Emerita

Re: $220,000 in student loan debt

From DD#1's financial aid offer:

Class 2012

My sincere congratulations on your acceptance to Albert Einstein College of Medicine. We are pleased to offer you the following financial aid to assist you in defraying your educational expenses.

Fall Semester 2008 / Spring Semester 2009 // Academic Year 2008-09

Tuition $21,182 / $21,182 // $42,364
Fees $1,208 / $1,208 // $2,416
Total $22,390 / $22,390 // $44,780

Financial Assistance
* * * * * *

Stafford Loan Requested
Subsidized $4,250 / $4,250 // $8,500
Unsubsidized $19,333.50 / $19,333.50 // $38,667
Total $23,583.50 / $23,583.50 // $47,167

total award: $59,480 (more than needed, but you get the idea)


edit: forgot to add, but the housing is insanely cheap! ~$2500/ year. Good luck finding that anywhere else in the Bronx!

Message Edited by haulingthescoreup on 06-12-2008 05:08 PM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 19 of 33
holuh3
Established Member

Re: $220,000 in student loan debt

It's hilarious that it's called an award.  Congratulations, by the time you're finished with your grueling training, it will have cost you over $250,000, and yet people will sneer at you and insist that you must be rich.  My loans will be paid after I am eligible for Social Security-I'm thinking of trying to get a discount by having Socialy security send the direct deposit over to Sallie Mae.
 
I'm really not this bitter.  I love my job and my patients, but I don't think people realize what a sacrifice it takes, and then physicians are so dogged in society.  It's kind of disheartening.  But don't tell your daughter that.  I'm hoping for change.
 
But tell her I said strong work on Albert Einstein; she'll get an awesome medical and cultural education. WTG.
 


Message Edited by holuh3 on 06-12-2008 05:37 PM
Message 20 of 33
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