Anyone still in debt that's matriculating this year?

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Luckily I don't have any undergrad debt, but I still have about $3000 in credit card debt and $8000 left in my car payments.

On top of that, I still need a new iPad/laptop.


What about you guys?


Now I understand why a lot of students come from families of doctors...

 

[Dr panda]

I think most Americans are in debt, especially recent graduates. You are not alone.

 

[Moko]

This whole training process is expensive. Going into med school with $11000 in debt isn't bad. The key is to minimize additional debt burden whenever possible from here on out. I do cringe whenever I hear of folks giving away full scholarships in order to attend another school that is only marginally better (if at all). The current education system does a horrible job of teaching folks on financial literacy.

 

[907914]

Will matriculate with around $30,000 or so. Gotta pay rent and childcare during undergrad too

 

[ciestar]

I started med school with 50k in undergrad debt.

 

[Schwifty]

I'm stating med school this July with about 18k in undergrad loans

 

[initialize]

Why not sell your car, get a cheap used one for $3k, and then pay off your credit card with the leftover money? Then you'll be green going into med school. I will never understand people's obsession with buying cars they can't afford.

Dude give me a break, it’s a Toyota Corolla. I wanted something that was reliable

 

[Dr.Gains]

Dude give me a break, it’s a Toyota Corolla. I wanted something that was reliable

That's the problem. You need a Honda.

 

[teenyfish]

I'll have about 45k undergrad debt and 1k credit card debt. I'm putting everything I can on the CC to keep as much liquid as possible. I'll pay off the CC debt as soon as I start though.

 

[DrStephenStrange]

Why not sell your car, get a cheap used one for $3k, and then pay off your credit card with the leftover money? Then you'll be green going into med school. I will never understand people's obsession with buying cars they can't afford.

And that is why you’re in debt. Plenty of cheap and reliable options available on the market.

Also since when are Corollas not expensive?

I have a 2014 Corolla that I still owe about 10K on, plus another 10K of credit card debt, I just finished 1st year of medical school, and I can tell you I was freaking out last year just like you OP, but it's manageable with the student loans you'll be taking as long as you can budget your expenses well.

 

[Dr panda]

Why not sell your car, get a cheap used one for $3k, and then pay off your credit card with the leftover money? Then you'll be green going into med school. I will never understand people's obsession with buying cars they can't afford.

I got my car for 5k, drove 1.5 years and just threw out 1.5k for repair. Buying old car is always a gambling.

 

[jamaica jan sun princess]

If you're struggling with credit card debt and have decent credit, open an 18 month 0% intro APR balance transfer card. You'll just pay the minimum payment without accruing any additional interest. When those 18 months are up, pay it off if you can or open another 18 month 0% APR card and transfer the balance again.

 

[907914]

If you're struggling with credit card debt and have decent credit, open an 18 month 0% intro APR balance transfer card. You'll just pay the minimum payment without accruing any additional interest. When those 18 months are up, pay it off if you can or open another 18 month 0% APR card and transfer the balance again.

Put all of your debt ever into one of these every 18 months until death. Check mate, IRS.

 

[initialize]

If you're struggling with credit card debt and have decent credit, open an 18 month 0% intro APR balance transfer card. You'll just pay the minimum payment without accruing any additional interest. When those 18 months are up, pay it off if you can or open another 18 month 0% APR card and transfer the balance again.

Funny you mention that - I just got one of those cards the other day for that very reason lmao