Non prestigious medical schools are around 180k. After paying for a 4 year degree that is prestigious enough to compete for a slot in the 180k program. Many cost more. Got friends graduating 300k in debt.

Irresponsible, perhaps. But costs and interest rates are killing people.

Law school is more than 100k. Hit or miss as far income is concerned after graduation.

I agree. Going to college for the sake of going to college is foolish nowadays. You need a plan. But this is madness. Honestly I wish banks would have stayed out of college from the beginning. Costs would be MUCH lower.

it depends upon how long and how much one can pay
(Can pay?) Agreed to pay, via contract.


if it will take longer to pay off, the payments are smaller but the total interest paid is MUCH HIGHER,,,
Again. They signed a contract. Interest doesn't change.


if one makes LARGER payments to pay off quicker, the total interest paid is MUCH HIGHER

Again, signed contract. Agree to pay, No one forced them. Pay regular payment and a separate payment towards the principle, interest decreases. (Fewer Payments)

so . for those who can best afford it, they are asked for less IN ADDITION to what they borrowed
IF, they couldn't afford it, why did they sign a contract, stating, under oath, they could?

for those who must struggle more to afford it, they are asked for MORE IN ADDITION to what they borrowed,
Missed/late payments, penalty. Happens to everyone. Is there a SPECIFIC group you are referring to?

in any case, for those who have to 'work hard' to afford it,, the rates can become ridiculous
BPHUCKINS. The4 rates are the same, across the board.

However, some groups may get discounted prices for educations.

Example. Some states charge the same for Illegals. Imagine that! Illegals are given tax breaks and financial incentives to attend school here.

Is this another, POORPHUCKINGME thread?

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Do you think doctors will make enough money to pay off the debt?

That 180k investment will pay off rather handsomely over their career..

There are people paying 47k per year to go to Columbia for a degree in geography or fine art.. Those are the people I am talking about.

Hey, if a college graduate wants to turn to a private lender to obtain a personal loan in order to pay off a federal loan, then I am all for it.

That is how refinancing works. One borrows from Lender A to pay off Lender B.

Not necessarily. Doctors don't get paid as much as one would think. 150k a year is almost nothing with $3000+ monthly student loan payments, and $15,000 a year in malpractice insurance. Not to mention many MD careers are taking cuts in pay while being expected to take on more patients.

And yes, I agree with your example on spending large sums to get B.S. degrees. That is probably the majority of the problem today with un-managed student loans.

That being said, its horrible to have 7%+ interest on 300k+ of debt. So i guess what Im trying to say, is that I don't see a problem with allowing these loans to be consolidated at a lower interest. Its essentially private banks dealing with private banks. Only thing the government pays is the interest while said student is attending college.

here is a link with average starting and 6yrs of experience salaries..

http://www.profilesdatabase.com/resources/2011-2012-physician-salary-survey