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 ...
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.
Poor choices have consequences.
How much of that debt financed partying and vacations?
I hope so. I hope this dolt projecting her personal misery on everyone puts her our of business. We don’t care about your 15 minutes of sob story fame, doc.
Much of that half a million in debt is accumulating interest, because she refuses to pay her debt.
“Someone save me from the consequences of my actions”.
I want to see her receipts. $480K my ass. How much was BLOWN on everything except tuition and books???
She signed up for the debt, NOW SHUT UP AND PAY IT BACK!!!
Seriously, have you ever known a dentist or doctor who didn’t own a mansion and drive a really nice car?
She’s right - it’s an obscene amount. Why would anyone ever take out that much in student loans? I would expect someone capable of finishing dental school to be better at math than that.
Must really suck as a dentist.
Even a caveman can connect the dots...
Easy solution. Move out of SF and move your practice, or join another practice, in a cheaper city or state. If she owns her home, she’ll make a lot of $$.
with zero payments having been made for almost four years she must surely have saved up a ton of money to pay down the principle on these albatrosses.
“”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”
That’s probably what she makes before taxes, workmans comp, for 5 crowns. Being out in the field for only 3 years, my guess is she is not up to doing 15 crowns per month, probably doing minor stuff.
Apparently she did not make payments during the plandemic. She made the financial decision to taking out the loans, now quit her *itching, be responsible and start paying it back. Sure she’ll never cry for a person making $50000/yr having to pay her $1500 for dental work. A dentist crying poor here, no sympathy ... just derision.
(PS - SF, CA ... whiner ... bet the dentist is a demonkkrap.)
If she is average her take home income is about 135 thousand dollars. She signed the loan papers, she got her degree. My sympathy factor is zero.
It should be noted the very generous loan programs backed by the government are what drives up the cost of education. As the money keeps flowing in the universities have no motive to cut costs and useless programs and the administrative budget grows and grows and grows.
“I owe somewhere around $470-480,000,” said Eriksen. “I think it’s an obscene amount.”
I just went on line for an ever so brief peek and found a $280k loan at 6% for 10 years is about $3k per month and a total of about $470k. How is this a surprise?
I hope the good dentists doesn’t overbill patients and expect them not to pay.
EC
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