200k in debt club

Started by ngkats
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Whoever mentioned the 70K debt from undergrad, Cheers to that!

And what is this Residents making 40K business? Is this an exaggeration?

That's less than I make and I'm in my undergrad/med school interim job. Tell me it isn't true!
 
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I know, but as soon as I seen it I was like..."Hehe, O-Face."

It is an awesome movie.

I would also like to note that my responses are usually meant for the posts about 4-5 responses above mine...for some reason, this thread is so hot right now that I can't keep up with my slow typing...maybe I should stop doing my work altogether and just concentrate on SDN.
 
It is an awesome movie.

I would also like to note that my responses are usually meant for the posts about 4-5 responses above mine...for some reason, this thread is so hot right now that I can't keep up with my slow typing...maybe I should stop doing my work altogether and just concentrate on SDN.

That's right! Get your priorities straight!:laugh:

Have you tried quoting the post you intend to respond to?
 
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Well, right now I'm hunting for papers, so it's not that much better.:laugh:

Tomorrow I resume my harvest/gel-running duties, though...:laugh:

1 o'clock: no change, 2 o'clock: mild change, 3 o'clock: moderate change...lunch....5 o'clock: 😱
 
Are we the only ones who showed up to this club's "meeting." Hm, can we put this on our resumes as a club/organization we started?
 
Not everyone who is going to med school will be $300k in debt after 4 years. Some of them come from wealthy families...some will attend state schools at a lower cost and indebtedness...and some will get significant financial aid and grants.

If your only option for med school is to attend one where you will have to borrow $300k, maybe you didn't apply to the right schools? Whatever, you should at least be aware of what kind of repayment obligation you will have, and you should also realize that you are an outlier - most people will NOT have this much med school debt.
Someone has to get stuck with the $300k school. So either you're right and the OP could have avoided it, but someone else would be in his position, or you're wrong and you're just making him feel bad. What's the point of that? EDIT: by OP I think I meant andrewnwi.
 
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Someone has to get stuck with the $300k school. So either you're right and the OP could have avoided it, but someone else would be in his position, or you're wrong and you're just making him feel bad. What's the point of that?

OP I'll make a deal with you if you get the 300k school and I get the 200k one...we'll trade! 😀
 
Whoever mentioned the 70K debt from undergrad, Cheers to that!

And what is this Residents making 40K business? Is this an exaggeration?

That's less than I make and I'm in my undergrad/med school interim job. Tell me it isn't true!

I think the average resident salary is 45,000

Also what happened in this thread? I went to class and in 3 hours the thread gained like 40 posts.
 
This scares me. How are we supposed to pay back that $200K debt?

"Obama would pay for the expansion by trimming tax breaks for the wealthy and tightening payments to insurers, hospitals and physicians, according to a senior administration official."

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/25/AR2009022502587.html?hpid=topnews

Maybe this is naive, but why don't we start a bunch more medical schools and increase the supply of doctors rather than cutting their salaries and expecting them to work even more (treating the 47 million who will now be insured after this wonderful plan is successful)?
 
Maybe this is naive, but why don't we start a bunch more medical schools and increase the supply of doctors rather than cutting their salaries and expecting them to work even more (treating the 47 million who will now be insured after this wonderful plan is successful)?

Easier said than done, man. Also, don't listen to what that one guys said. That was my whole point of arguing him! Anyways, it is possible to pay off the loans after you graduate. Like I said don't let the money discourage you, just bust through the work and worry about later. Good luck!!
 
This scares me. How are we supposed to pay back that $200K debt?

"Obama would pay for the expansion by trimming tax breaks for the wealthy and tightening payments to insurers, hospitals and physicians, according to a senior administration official."

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/25/AR2009022502587.html?hpid=topnews

Maybe this is naive, but why don't we start a bunch more medical schools and increase the supply of doctors rather than cutting their salaries and expecting them to work even more (treating the 47 million who will now be insured after this wonderful plan is successful)?

If you don't go to medical school, chances are you will never have money as you are always in debt from paying off a house, paying for a car, having a family, etc, etc. If you go to medical school, you will have to pay back student loans for a decade or two and still have no money. Big deal! I have never had more than a couple of hundred dollars in my pants pocket or checking accout (after the months bills are paid) and I never expect to have much in the bank account. So what though. You can't take the money to heaven with you when you are dead.

Seriously. Going into $200,000 of debt is a serious issue and will end up being more like $350,000 after it is all paid off. If you need to pay that much back, I would assume it would cost you around $2,500 to $3,000 a month. If you make $125,000 a year, you will spend roughly $24,000 - $30,000 a year paying back your loans (with the lowest payment each month). I would think you would still take home around $90,000 or so after taxes (for 12 months worth of checks). So you will still have more than the average American HOUSEHOLD makes in a year to pay for a family, a house, a car, etc. So you won't become rick, what shocker. Welcome to reality!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Some doctors will make bank and some won't. In the end, you become a doctor to serve your community, not your bank account when you are 75 years old and no longer able to think straight or able to walk without a cain.
 
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If you don't go to medical school, chances are you will never have money as you are always in debt from paying off a house, paying for a car, having a family, etc, etc. If you go to medical school, you will have to pay back student loans for a decade or two and still have no money. Big deal! I have never had more than a couple of hundred dollars in my pants pocket or checking accout (after the months bills are paid) and I never expect to have much in the bank account. So what though. You can't take the money to heaven with you when you are dead.

Seriously. Going into $200,000 of debt is a serious issue and will end up being more like $350,000 after it is all paid off. If you need to pay that much back, I would assume it would cost you around $2,500 to $3,000 a month. If you make $125,000 a year, you will spend roughly $24,000 - $30,000 a year paying back your loans (with the lowest payment each month). I would think you would still take home around $90,000 or so after taxes (for 12 months worth of checks). So you will still have more than the average American HOUSEHOLD makes in a year to pay for a family, a house, a car, etc. So you won't become rick, what shocker. Welcome to reality!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Some doctors will make bank and some won't. In the end, you become a doctor to serve your community, not your bank account when you are 75 years old and no longer able to think straight or able to walk without a cain.

I 😍 Your Post
 
OP here. Good morning club members. I think we need to start electing club officers. Whose game?
 
I would like to be head of internal affairs.

I shall find and expel those people who try to sneak into our club who don't have a projected debt of over >200k by the end of medical school.

Yes, I expect it to be hard job, especially considering the high profile and awesomeness of this club, but I think I am the right man for it.
 
I would like to be head of internal affairs.

I shall find and expel those people who try to sneak into our club who don't have a projected debt of over >200k by the end of medical school.

Yes, I expect it to be hard job, especially considering the high profile and awesomeness of this club, but I think I am the right man for it.

Of course! We need to expel those people but first steal all of their money. Then perhaps--just perhaps--we can call ourselves the 199k in-debt club.

Consider yourself nominated.
 
Of course! We need to expel those people but first steal all of their money. Then perhaps--just perhaps--we can call ourselves the 199k in-debt club.

Consider yourself nominated.

Excellent

Now, I am going to need everyone's financial aid forms by the end of march.

😀
 
Look, everyone. For a good 99% of Americans there is no way to escape debt. Debt is a fact of life. In fact, debt is what allows our country to be strong (aka becoming rich via creditors).

If you don't go to medical school, you are bound to make around $25,000 - $100,000 range. Very few, and I mean very few people will make more than that without going to law school, not having an MBA, not going to medical school, not having a master's degree in some engineering degree, not being a pilot for a big airliner, not being a big shot accountant, etc (this is all now known as "the degree creep." Degree creep is real and it is already here. There are plenty of careers that COULD provide you with a salary of around $40,000 - $70,000 range. But to get over that hump is very hard. Most everyone that wants to get over that hump has to go many years with little to no income and going into major debt. There is no escaping it unless you are one of the lucky ones that come from a well-off family. Sure you can go to tech school and become a dental hygienist and marry another dental hygienist and have a combined family income of around $140,000. But is that the job you really want the rest of your life? This is my point, a salary is a number. Passion for a specific type of job will lead to life satisfaction, not the numbers that are electronically calculated in the checking account. I'm being dead serious here folks.

If you go to medical school, like I already touched on in this thread, you WILL be in debt for a good decade or more, if you are even lucky enough to be out of complete debt. Some new attendings will go and purchase that brand new house, that expensive new car, have a family (if not already), and so many more other life expenses. About the only way to escape debt is to big a gold digger or pay off all your debts here in the United States, save up a whole years worth of salary and move to a 3rd wold country were you would be one of the richest people in the country for the rest of your life.
 
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Look, everyone. For a good 99% of Americans there is no way to escape debt. Debt is a fact of life. In fact, debt is what allows our country to be strong (aka becoming rich via creditors).

If you don't go to medical school, you are bound to make around $25,000 - $100,000 range. Very few, and I mean very few people will make more than that without going to law school, not having an MBA, not going to medical school, not having a master's degree in some engineering degree, not being a pilot for a big airliner, not being a big shot accountant, etc (this is all now known as "the degree creep." Degree creep is real and it is already here. There are plenty of careers that COULD provide you with a salary of around $40,000 - $70,000 range. But to get over that hump is very hard. Most everyone that wants to get over that hump has to go many years with little to no income and going into major debt. There is no escaping it unless you are one of the lucky ones that come from a well-off family. Sure you can go to tech school and become a dental hygienist and marry another dental hygienist and have a combined family income of around $140,000. But is that the job you really want the rest of your life? This is my point, a salary is a number. Passion for a specific type of job will lead to life satisfaction, not the numbers that are electronically calculated in the checking account. I'm being dead serious here folks.

If you go to medical school, like I already touched on in this thread, you WILL be in debt for a good decade or more, if you are even lucky enough to be out of complete debt. Some new attendings will go and purchase that brand new house, that expensive new car, have a family (if not already), and so many more other life expenses. About the only way to escape debt is to big a gold digger or pay off all your debts here in the United States, save up a whole years worth of salary and move to a 3rd wold country were you would be one of the richest people in the country for the rest of your life.

If this is your way of trying to become club president, it's not working.