We are the 1%!

[DrDDSman]

Some of us anyway..

http://finance.yahoo.com/news/1-student-debt-crisis-owing-163540505.html

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[billythekid]

Some of us anyway..

http://finance.yahoo.com/news/1-student-debt-crisis-owing-163540505.html

the big difference is that an average salary with a sociology degree is crappy. the average salary of a dentist is more palpable.

 

[DrDDSman]

the big difference is that an average salary with a sociology degree is crappy. the average salary of a dentist is more palpable.

Of course, that's a given. I was just interested in the data.

 

[tinman831]

$200k for a sociology degree? That's what you call bad investing.

 

[Parklife]

LOL at northeastern? That's not even a good school.

200k for maybe harvard soc degree..

 

[DrDDSman]

LOL at northeastern? That's not even a good school.

200k for maybe harvard soc degree..

Why not an 80k UMass soc degree?

The thing about Harvard is that soc degree will somehow let you land a job at Bain or Goldman Sachs. UMass and NEU might get you a job at Applebees.

 

[FLOSS UR TEETH]

I say go to the cheapest undergrad possible even if it is College of the Ozarks where they make you work a few hours a week to have all your tuition payed for and kick azzz there. I say this b/c this will give you much more money to put towards professional school down the road and there are many good schools for undergrad that are reasonably priced. You just need to scope them out and take advantage of them.

Another point I want to make is that you don't need to go to Harvard to get into a top dental school. What you do need is good grades, good EC's, and good LOR's. Save Harvard for dental school school, it is actually one of the cheaper private ones.

 

[DrDDSman]

I say go to the cheapest undergrad possible even if it is College of the Ozarks where they make you work a few hours a week to have all your tuition payed for and kick azzz there. I say this b/c this will give you much more money to put towards professional school down the road and there are many good schools for undergrad that are reasonably priced. You just need to scope them out and take advantage of them.

Another point I want to make is that you don't need to go to Harvard to get into a top dental school. What you do need is good grades, good EC's, and good LOR's. Save Harvard for dental school school, it is actually one of the cheaper private ones.

I think the same philosophy would apply when choosing dental schools. Cheaper is usually the best way

 

[little Buddy]

The best part of these articles is reading what others say in the comments section below lol. Good times.

 

[Vapor1122]

We had a lecture at NYU the other day about repayment options after graduating. The guy laid out a few examples using figures of average debt there, and I was amazed to hear all the gasps in the crowd when he showed some expected monthly payments. It's a lot of money, sure, but did everyone really not know what they were getting into when they signed their promissories??

 

[lunt]

"Among the 37 million people in this country with student loans to pay off, the median balance is $12,800"

Isn't it more relevant to look at the loan amount at graduation? This stat currently includes freshman students with 10k debt who should have 40k-ish over 4 years and also adults who had 200k debts but who now have with only a few k left to pay.

 

[MrSummerlin]

"Among the 37 million people in this country with student loans to pay off, the median balance is $12,800"

Isn't it more relevant to look at the loan amount at graduation? This stat currently includes freshman students with 10k debt who should have 40k-ish over 4 years and also adults who had 200k debts but who now have with only a few k left to pay.

 

[SexyMariGal]

We had a lecture at NYU the other day about repayment options after graduating. The guy laid out a few examples using figures of average debt there, and I was amazed to hear all the gasps in the crowd when he showed some expected monthly payments. It's a lot of money, sure, but did everyone really not know what they were getting into when they signed their promissories??

No, most likely not. There should be mandatory information sessions or classes that show and calculate all the financial aspects that students will get into, so that they understand these stark realities and risks of getting into the health professions, because the amount of debt they incur is astronomical compared to other fields. Tons of people don't read the fine print for a lot of things either, and MPN are no exception here.

 

[DrDDSman]

No, most likely not. There should be mandatory information sessions or classes that show and calculate all the financial aspects that students will get into, so that they understand these stark realities and risks of getting into the health professions, because the amount of debt they incur is astronomical compared to other fields. Tons of people don't read the fine print for a lot of things either, and MPN are no exception here.

Agreed, but sometimes when you're 17-18 (and choosing colleges) and even when youre 21-22+ (DS) you dont know what youre getting yourself into (as the article implies) and you end up graduating with 500k in debt (including UG) and youre pretty much going to be scraping by for a while.

I know a current ortho resident (through family) who went to an expensive UG, expensive DS and now is doing his ortho res in an expensive city who is begining to realize that its going to be TOUGH for him once full repayment kicks in. (see above scenario). He told me he could have saved an easy 200K if he chose his state school (a pretty good one) and another UG. Hind sight is 20/20, I guess.

I think people are either misinformed or chose to ignore this and tend to have the "I will deal with it later" mentality, as my aquiantance had.

 

[Shnurek]

No, most likely not. There should be mandatory information sessions or classes that show and calculate all the financial aspects that students will get into, so that they understand these stark realities and risks of getting into the health professions, because the amount of debt they incur is astronomical compared to other fields. Tons of people don't read the fine print for a lot of things either, and MPN are no exception here.

Very true and well said