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  1. #1
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    Over $500,000 in student loans

    the-555000-student-loan-burden: Personal Finance News from Yahoo! Finance

    Really. I just figured everyone knew that once you take a loan and dont pay it back on time it grows.


    The gap in our economy is between what we have and what we think we ought to have--and that is a moral problem, not an economic one. - Paul Heyne

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    Re: Over $500,000 in student loans

    Death, taxes and student loan payments...

    "Maybe half of it was my fault..."

    What does she blame the other half on?

    Her coke habit? Her ADHD? Enron? Her fondness for fine dining? Her boyfriend Larry? The mortgage meltdown?

    Did her ancestors cross Billy Goat Tavern owner Billy Sian?

    Boo Hoo for Dr. Bisutti.


    Last edited by kilgore_trout; 02-16-2010 at 09:39 PM.
    I was a victim of a series of accidents, as are we all.

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    Re: Over $500,000 in student loans

    Awful situation. The way it stands now she will have things paid off when she is 70. Tough to save for retirement starting then!

    My wife and I may have ours paid off by 40. What a pain but boy will it be nice when they are gone.


    Nothing to see here mods. Keep moving.

  4. #4
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    Re: Over $500,000 in student loans

    Quote Originally Posted by kilgore_trout View Post
    Death, taxes and student loan payments...
    I think most people can manage their student loans, and find ways so they dont have to barrow so much money, but that is just me.


    The gap in our economy is between what we have and what we think we ought to have--and that is a moral problem, not an economic one. - Paul Heyne

  5. #5
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    Re: Over $500,000 in student loans

    ...you can join the Army for 6 years and have it all gone.



  6. #6
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    Re: Over $500,000 in student loans

    Look for this story to pop up a lot more the longer the economy sucks. The young worker unemployment rate is at ridiculous levels for college students, most of whom went into college thinking 'this college thing will guarantee i have a job in 4 years'. Now with the glut of experienced workers in the market, there's no reason to hire an unproven 22 year old college grad when you can hire one of the millions of experienced workers that were laid off.

    More students not getting jobs = more students not paying their loans and racking up tons of interest.



  7. #7
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    Re: Over $500,000 in student loans

    But what does she make in salary, I would think that she would be able to pay more than $990 a month as a doctor wouldn't she?



  8. #8
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    Re: Over $500,000 in student loans

    Quote Originally Posted by drmwevr08 View Post
    Awful situation. The way it stands now she will have things paid off when she is 70. Tough to save for retirement starting then!

    My wife and I may have ours paid off by 40. What a pain but boy will it be nice when they are gone.
    It would be interesting to see how much money she spends a month. My wife used to work for a Doctor who's had a student loan ballance of about $200,000, lived in a $350,000 house and had 2 $60,000 cars. He had no clue on how his loans really worked. My wife faught and faught him to get his finanices in line and to get his loans paid down. Just because you are a Doctor doesnt mean you understand things other that what is in a book.


    The gap in our economy is between what we have and what we think we ought to have--and that is a moral problem, not an economic one. - Paul Heyne

  9. #9
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    Re: Over $500,000 in student loans

    Ahhhhh, I don't think I would trust my health to a doctor who doesn't even understand how loans work.


    "It's a jungle out there kiddies. Have a very fruitful day.
    J. Buffett

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    Re: Over $500,000 in student loans

    Boy, this article made me a bit nervous. I had my student loans from undergrad deferred while I am in graduate school, and I remember it being a very easy process. This woman did alot beyond just deferring her loans, but I am going to have to place a call to good ol' Iowa Student Loan to make sure I'm not getting charged for anything aside from standard interest.



  11. #11
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    Re: Over $500,000 in student loans

    Quote Originally Posted by johnpkelly81 View Post
    But what does she make in salary, I would think that she would be able to pay more than $990 a month as a doctor wouldn't she?
    I'm sure that she makes over $200K per year and probably got $200K up front for just signing with a hospital. Just a little belt tightening and money management for a few years should take care of the complete debt.



  12. #12
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    Re: Over $500,000 in student loans

    I Refuse to concern myself with the plight of somebody's finances who makes 200k/year. Unless they have a medical situation racking up bills it is on them to get their finances straight...it's easy.



  13. #13
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    Re: Over $500,000 in student loans

    People like this just **** me off. How can you be that stupid and be a doctor?



  14. #14
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    Re: Over $500,000 in student loans

    I wish there was a better cap on how much you can take out in college loans. It is horrible.



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    Re: Over $500,000 in student loans

    I do not feel bad for an idiot who makes six figures and can't find a way to begin paying off her loans.... she is obviously dumb.



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