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 ...
“I want to see her receipts. $480K my ass. How much was BLOWN on everything except tuition and books???”
That’s my question. I can find no evidence of a degree in dentistry costing that much. Is this a case where the person took out a loan for every amount possible and the money was used for all living expenses and vacations during those years in school?
A wise and frugal person takes out loans for the minimal amount possible, works part-time jobs, lives on a shoe-string budget, eats a lot of ramen noodles, and thinks of a vacation as a afternoon at the public area of a state park. AND, that person pays as much as possible on those loans even when the payment requirement is “paused”.
San Francisco is one of the most expensive cities to live in. Perhaps she should consider moving her dental practice to a small town where the cost of living is less.
WOW ... talk about thinking out of the box ....
Hay ... whole line of boxes ... one for keeping your #$%^s and one to think out of ..
I want royalties and free boxes ..
And there is still time to get them made in china by nimble fingered children .. be ready for the Christmas rush
She needs education in personal finance.
If she’s really making in the neighborhood of 135,000 a year, she should be able to pay these loans plus have money to pay rent, or mortgage, and all the other bills that we all have in our lives.
Personally I think everyone needs personal finance education in order to avoid credit card debt and manage their money.
There’s no question the $3,000 a month is a big chunk of her monthly income , but it still sounds like it’s doable , because she got training in a field which enables her to earn a good living.
I am shocked one has to borrow a half million dollars to become a dentist. And that is not a slam on dentists.
I doubt that these words, “A wise and frugal person,” would ever be applicable to Democrats, Liberals, Progressives, Leftists, Marxists, The Woke, or any other FREELOADER or Gibmedats just drifting through life.
They need to feel the pain for their decisions GOOD AND HARD! Responsibility is an Unknown Concept to them.
Probably needed more than that.
Consider: 1) she has "outed" herself AND the practice in which she works, thereby, 2) publicly said she is having a hard time paying $3K a month to her loans, when her income should be enough to cough up $36K a year in payments, 3) publicly said she RENTS, and 4) ends up through a simple web search to have gone to THE most expensive school right there in the Bay Area....
"Dr. Eriksen is a Bay Area native who graduated Magna Cum Laude from the University of Kentucky with a Bachelor of the Arts degree in Biology. She then received her Doctor of Dental Surgery at the Arthur A. Dugoni School of Dentistry in San Francisco. Dr. Eriksen completed her Advanced Education in General Dentistry residency with the Arthur A. Dugoni School of Dentistry."
Source: https://www.pacificheightsdental.com/our-practice/our-dentists/dr-annelise-eriksen/
So saddled with debt, renting and working a lot. And whining. A young, blonde, blue-eyed "Karen"....
https://www.pacificheightsdental.com/our-practice/meet-our-team/
Watch the series Northern Exposure...where a NY doctor is sent to a remote Alaskan village to work off a $100K tuition fees.
Tuition at the school she received her DDS from is currently 124k a year. Fees, textbooks, and dental kits are extra. It is a three year program.
ttps://dental.pacific.edu/dental/academic-programs/doctor-of-dental-surgery/tuition-and-fees#:~:text=Tuition%20for%20the%202023%2D2024,and%20Endo%20programs%20is%20%24124%2C185.00.
Sorry, working link.
Yes, she should be able to handle it as a Bay Area dentist, but point is, she didn’t have to splurge on vacations and shit to reach that total as some comments are suggesting. Tuition is insane these days.
What a lucky girl. Her interest was suspended through today? I wonder how many months even years she went without having to pay interest. I can guarantee you that I never had interest suspended on any of my loans.
“Eriksen says it’s impossible to live in San Francisco, pay rent and pay back her loans.”
Yet she found it easy to live in SF, pay rent and $125,000 per year in tuitition!
HELL NO! I'm a "Made in 'Merica" guy. As much as I can anyway. Some stuff just isn't made here anymore (sadly)...
“How much was BLOWN on everything except tuition and books???”
Tuition was $125,000 per year!
Look that horse in the mouth before you buy it.
Exactly. She just destroyed her career.
what is more obscene...taking on that amount of debt with no clear plan on how to pay it back OR expecting someone who DIDN’T take on that debt to pay it back for you? YOU decide.
“If she is average her take home income is about 135 thousand dollars.”
Pacific heights, SF. Bump it up! For reference, her tuition was $125k per year.
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