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Topic	why shouldn't we reimburse people who already paid off their student loans?
BlameAnesthesia 06/25/19 4:49:35 PM #47:	Knowledge_King posted... Balrog0 posted... I'm not trying to be an asshole but your decision was a really bad one from a financial standpoint. It would make more sense to go to the better school and make connections there and leverage that into higher lifetime income. Wanting to pay off your debts really fast speaks more to risk avoidance than savvy financial skills imho Not really. If I go to Ivy League and fail to make connections I'm now 400,000 in debt and working a non-six figure job. As opposed to like...the 30,000 I was in and paid off quickly. If the failure is lifelong debt, you usually don't just go for it. You're only going to see 400k+ in professional schools like medical and law. PhD typically gets free tuition + stipend to help subsidize the cost of living. Even expensive private undergrads, if someone took out max cost of living + tuition would be maybe in the 200s, but probably less. And in cases of the former, medicine is a bit more stable in so far as once you're in medical school, the graduation rate is >90% and post graduate placement in a residency program that makes you a board certified physician is also mid 90%. You'll carry a scary principle (>300k if no help from home and fully funded on loans) but you'll make minimum payments during residency and then pay it off in 3-10 years as an attending physician. Can't comment on law though. You'd have to colossally fuck up on an epic scale to be in the hole almost half a million from just undergrad debt. --- Anesthesia resident - PGY 1 <cite>BlameAnesthesia posted [p:923835857] in why should... [t:77818232]...</cite> <quote><cite>Knowledge_King posted...</cite> <quote><cite>Balrog0 posted...</cite> <quote> I'm not trying to be an asshole but your decision was a really bad one from a financial standpoint. It would make more sense to go to the better school and make connections there and leverage that into higher lifetime income. Wanting to pay off your debts really fast speaks more to risk avoidance than savvy financial skills imho</quote> Not really. If I go to Ivy League and fail to make connections I'm now 400,000 in debt and working a non-six figure job. As opposed to like...the 30,000 I was in and paid off quickly. If the failure is lifelong debt, you usually don't just go for it.</quote> You're only going to see 400k+ in professional schools like medical and law. PhD typically gets free tuition + stipend to help subsidize the cost of living. Even expensive private undergrads, if someone took out max cost of living + tuition would be maybe in the 200s, but probably less. And in cases of the former, medicine is a bit more stable in so far as once you're in medical school, the graduation rate is >90% and post graduate placement in a residency program that makes you a board certified physician is also mid 90%. You'll carry a scary principle (>300k if no help from home and fully funded on loans) but you'll make minimum payments during residency and then pay it off in 3-10 years as an attending physician. Can't comment on law though. You'd have to colossally fuck up on an epic scale to be in the hole almost half a million from just undergrad debt. --- Anesthesia resident - PGY 1</quote> ... Copied to Clipboard!
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