Paying for college?

sk8rmom
Tue, 17 Nov 2009 17:40:12 +0000

Altho your ultimate profession’s starting salary is about $125k, that isn’t high enough to afford the payback for $150k in student loan debt. That kind of debt needs an income of over $200k to comfortably payback because the payments would be about $1700 a month.)



mom2, I respectfully disagree that it’s difficult for a recent grad to pay back $1700+ a month on a $125K salary! Pharmacy and med students do it all the time and manage to pay their loans back on time, and oftentimes early. If she’s bringing home in the neighborhood of $7K a month, and paying back $2K a month, she still has over $1K a week to live on. The calculators seem to be giving consumer debt ratios such as those that banks like to see…student loan debt for a career that is high demand and lucrative is not comparable. It’s a shame that healthcare specialists must take on these higher student loans but without them our hospitals would be ghost towns!