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 ...
She would have cut her interest payments down if she kept making payments the past three years, but I didn’t see anything in the article about that one way or the other. I can’t imagine that one would have been disallowed from making any payments during the grace period, but I’m thinking she didn’t.
Eh, eh, eh, cavities.
Just another reason why the Dept. of Education needs to be eliminated
“he 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.”
Really? You think $135k goes very far in San Freako? Her take home pay after taxes would only be about $3,500 bi-weekly. A simple mortgage in San Fran is at least that.
Someone just out of school is going to have to wait a while before she can "cash out". Also, she is probably working as an associate of someone else for a while to start off, so she may not have an ownership interest.
What does she spend her money on?
I would start paying back the loan as soon as I
got out of school.
I paid a total of $450,000 in nine years for a condo loan. and I didn’t make $135.000 a year. My life was kinda crappy and lonely, but the loan was paid off. It is very expensive where I live.
“I wonder how much her house and cars are worth.”
Per the article she is renting.
“The ABC sob story has some odd numbers in it.....
Please see: “Average tuition for 66 US dental schools””
Her tuition was $125,000 per year.
Also, skip the html and FR will auto format the link.
https://www.beckersdental.com/benchmarking/39359-average-tuition-for-66-us-dental-schools.html
“I would have to start making payments of $3,000 a month. “
Mortgage payment for people buying half a million dollar homes. She’s running a professional business and she can’t cover that? The people I know running businesses have to build their costs into their fees. It’s not rocket science. Average number of patients per month. Average fee per patient. Divide 3000.00, done.
” I can find no evidence of a degree in dentistry costing that much.”
A simple search shows 4 years x $125k/yr = $500k.
I did not know that. Thank you very much.
Nice to see another doing some research before posting!
Ok .... we could try that
Let's see ... we’’ll need a DIE department before we start hiring workers..
At least 3 giblts with degrees in gibliting .. and because they have student loans in the 50-100$ range we'll need to pay them pretty good.
I suppose we will have to make sure all the boxes are “green” .. so we will need an environmental compliance dept ..
At least 3 metro woke urban social warriors ... hmm pretty expensive also .. high student loans ...
And our OSHA compliance dept ... hmmmm
I'm starting to see a problem here ...
Looks like student loans could be a leash ... something to reach out into society and tether people to the government .. sort of nudge policy goals and steer culture and business.
hmmmm .... maybe I'll just leave my #$$%s scattered around.
and it's not so bad in that box when I'm thinking .....
Screw that, we’ll get ‘em made in China.
I went through 4 years of college and 4 years of medical school without going into debt. It was tough, but I could--and would--do it again.
I was accepted to one of the top medical schools in the US, but I couldn't afford to go there; so I went to the state medical school instead. I did just fine.
I am not responsible for her debt.
An extreme injustice would be for me to be forced to repay her debt for her.
Screw that, we’ll get ‘em made in China.”
BWAAA HA HA ... o man
my day is really getting twisted .. and your not helping
“How much of that debt financed partying and vacations?”
Very little.
“Poor choices have consequences.”
She is working at an elite dental office in one of the most elite districts in the U.S. She is set for life!
That’s not all that much for a dentist who will earn a higher than average income for life. Hunker down and pay off your loan and stop asking me to pay for you. If you couldn’t pay off the loan why did you take it out?
Waddya bet she has multiple designer handbags. Typical entitled female.
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