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SF dentist says she owes $480K in federal student loan debt as interest starts accruing again
ABC News Local ^ | September 1, 2023 | By Suzanne Phan

Posted on 09/04/2023 6:37:08 AM PDT by Oldeconomybuyer

SAN FRANCISCO (KGO) -- Millions of Americans who have federal student loans have been dreading this day.

On Sept. 1, interest on student loans started accruing again for 43 million Americans.

"I graduated from dental school in 2019," said Annelise Eriksen. She has been a dentist in the Bay Area for more than three years.

"I owe somewhere around $470-480,000," said Eriksen. "I think it's an obscene amount."

She went on to say, "I didn't take out any student loans for my undergrad. That's all dental school loans. I think my largest loan is $70,000 with a 7.5% interest rate."

Eriksen says it's impossible to live in San Francisco, pay rent and pay back her loans.

The thought of paying back student loans can be difficult to process.

"It's daunting. In order to keep up with the interest rates, I would have to start making payments of $3,000 a month. That's how much pure interest my loans accrue every month," Eriksen said.

(Excerpt) Read more at abc7news.com ...


TOPICS: Education; Health/Medicine; Local News
KEYWORDS: dentist; studentloans
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To: peggybac

Her practice is in Pacific Heights where many homes are in the $3-5 million range. But still, $3,000 a month in interest alone and she’s still not touching the enormous principal. If she doesn’t own a home and is renting, well yes, she’s in trouble. At least with a home you can cash in the equity.


21 posted on 09/04/2023 6:54:30 AM PDT by Deo volente ("When we see the image of a baby in the womb, we glimpse the majesty of God's creation." Pres. Trump)
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To: Oldeconomybuyer

I wonder how much her house and cars are worth. Vacations? Clothes and shoes?


22 posted on 09/04/2023 6:58:00 AM PDT by Mathews (I have faith Malachi is right!!! Any day now...)
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To: Oldeconomybuyer

In the immortal words of Jerry Reed “Who’s gonna collect my welfare? Pay for my Cadillac?”


23 posted on 09/04/2023 6:58:33 AM PDT by fatboy (')
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To: Oldeconomybuyer
The ABC sob story has some odd numbers in it.....

Please see: "Average tuition for 66 US dental schools"

https://www.beckersdental.com/benchmarking/39359-average-tuition-for-66-us-dental-schools.html

Check out the difference between UCLA and USC in southern California, as an example of tuition. The ABC dentist made some bad decisions, it seems....

24 posted on 09/04/2023 7:00:23 AM PDT by Worldtraveler once upon a time (Degrow government)
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To: Oldeconomybuyer

should have taken one course in money management. AND....I don’t believe it.


25 posted on 09/04/2023 7:01:15 AM PDT by Sacajaweau ( )
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To: peggybac

If she owns her home, she’ll make a lot of $$.

************

She may also make some money selling her practice. Every year it should be worth a little more in terms of it being a viable business.


26 posted on 09/04/2023 7:01:43 AM PDT by Starboard
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To: Oldeconomybuyer

at least she got a skill out of so she can pay back her loans

unlike all the angry dyke studies degrees...


27 posted on 09/04/2023 7:02:40 AM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: Oldeconomybuyer
No sympathy...not for a dentist or physician.
28 posted on 09/04/2023 7:06:07 AM PDT by Gay State Conservative (Two Words: BANANA REPUBLIC!)
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To: Kriggerel

“same empty box.”

Hey that’s a great idea ...
I need to get me a box like that.
My ^%#@s are scattered all over the place .
IT might help me find them when I need one .
Cause right now ... I can’t find one for this dentist
I’ll keep looking around ... but ..
I need a box


29 posted on 09/04/2023 7:06:12 AM PDT by 1of10 (be vigilant , be strong, be safe, be 1 of 10 .)
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To: Oldeconomybuyer
1. Her practice is in a fancy area. These people don't want their teeth pulled, or cheap fillings. It's implants and caps. A “dentist to the rich” should be able to make 150-200K a year, even just starting out. Eat spaghetti and chicken for a couple of years, and pay the thing down.

2. Joint the army. A couple of stints and they'll pay your student loans.

3. Work in a rural area, there are many programs that will forgive student loans if you make a commitment to be there for 5 or 10 years.

She wants to have her cake and eat it too.

30 posted on 09/04/2023 7:07:13 AM PDT by Fido969 (45 is Superman! )
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To: Kolb
Poor choices have consequences.

🎯

Apparently some people think their poor choices are everyone elses' responsibility! EFF THEM!

31 posted on 09/04/2023 7:07:56 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Worldtraveler once upon a time

Needed some math and accounting classes in her undergrad experience.


32 posted on 09/04/2023 7:08:25 AM PDT by KC Burke
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To: Oldeconomybuyer

She was not coerced into this.

Our kids’ orthodontist plans to have his school bill paid off in 30 years.


33 posted on 09/04/2023 7:09:46 AM PDT by lurk (u)
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To: Oldeconomybuyer

Note to self: never allow Dr. Eriksen to work on your teeth.


34 posted on 09/04/2023 7:10:01 AM PDT by VTenigma (Conspiracy theory is the new "spoiler alert")
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To: 1of10
The two of you just gave me a great Christmas present idea.

For the person who has everything get them a box of F***S To Give!

Hand crafted, these boxes are the PERFECT gift for the person who has everything --- or nothing at all!

Comes gift wrapped and personalized for those who don't give a F*** to wrap it themselves. Does not include any F***s to give.

Only $19.95, hurry, call now! (800)NO-F***S

35 posted on 09/04/2023 7:11:05 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Kriggerel
Poverty sucks but debt kills.

Don't get me wrong, I hope she gets through this deal, but without anyone else being required to pick up the tab for it.

As one heard Mark Levin say one time, "You go to school where you can afford to go to school", something that probably most of us have lived at some point in our lives.

Maybe she could start a GoFundMe where those who are so inclined can help her out voluntarily?

Just axin'.

36 posted on 09/04/2023 7:11:58 AM PDT by OKSooner (Maybe Quix was right about some stuff. Pronouns=(XY, XYim, XY's))
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To: Oldeconomybuyer

Waaaaahhhhh.

Obviously incapable of doing her homework. Brain dead POS blaming everyone but themselves.

On the bright side, with all the meth heads and druggies in San Francisco she should making a killing fixing teeth.


37 posted on 09/04/2023 7:14:28 AM PDT by maddog55 (The only thing systemic in America is the left's hatred of it!)
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To: FlingWingFlyer

>>>Millions of Americans who have cellphone bills, car payments, Taylor Swift tickets and mortgages are dreading this day too. You don’t see us pimpin’ the old demented geezer to force the workers to pay our bills. We do it ourselves. Every damn month.<<<

PERFECT response. I couldn’t have said is better!!


38 posted on 09/04/2023 7:15:42 AM PDT by Old Grumpy
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To: Fido969

“Her practice is in a fancy area.”

************

That being the case, she should be able to cash out at some point (maybe sooner than later) and pocket a lot of money.

She conveniently neglects that issue.


39 posted on 09/04/2023 7:15:55 AM PDT by Starboard
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To: Oldeconomybuyer

Nobody put a gun to her head and said “sign for this loan”.


40 posted on 09/04/2023 7:16:29 AM PDT by glorgau
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