Tuesday, February 12, 2013

Student Loan Debt

First look at student loan debt.

Thank God he got a full scholarship for undergrad!

I just cannot fathom paying it all off. He reassures me time and time again that doctors all over the country are doing the same, making it work, and doing well. Seriously... a test he just registered for just cost him over a $1000. He gets one chance to take it. Why on earth does this information cost so much?! $70,000 per year is absurd. (multiply by 4 years mind you) The interest payment alone during residency (when he will only bring home about 40,000 after taxes) will be several thousand a month.

He tells me that we will do very well in our 40's and after.  

1 comment:

  1. It really means a big sacrifice, Jess. It can be quite frustrating to crunch those digits, but it’s just for a while. It’s not like you’re going to be buried in debt forever. I think luck is on your side, because he got full scholarship. Meaning, it’s a huge cutoff from the amount you'd have to pay. Hope you're on your way to closing up that debt!

    Ravi Agarwal @ MEDIQ Financial Services