In my area, you’d net between $80,000 and $90,000 depending on marital status.
I’m not sure how. Everything I’ve looked at including asking a few people who make around that have said $80,000 to $90,000. Not that I’m asking random people. These are people I’m close with.
Kinda depends on what your debt burden is. Say it's $200k. If your salary is $100k, then your take home is about $70k in PA. You'd be putting roughly half your take home pay per month into your loans to pay them off in 10 years. That leaves you with around $2500-3000 a month to live on. This is one of the scenarios where that ends up costing less in the long run than doing one of the income based plans.
I think my situation has a better outlook since I’ll have my SO’s salary as well, so that’ll help a lot. Once we get married that changes tax brackets. My ideal scenario would be to live off of mainly her salary and then most of mine would pay off loans.
Well yes, that does put you in a better spot, which DVMD mentioned earlier.
Wow I thought you were defending your point from the standpoint of being alone. But you’ve disappointed me, you had a whole extra salary laying around this whole time, which I feel makes most situations involving debt less burdensome.
I’ve asked a few relief vets I worked with, and a good number of them (who are only a few years into their careers) said they had just received offers in the $125,000 ballpark and they were just working relief until their contracts kicked in. Some of them had worked emergency for a couple years and networked in the meantime working relief once in a while. Of course this isn’t the same for everyone, but it’s worked for them. Not saying I’ll absolutely have that happen for me, but it’s just something I’ve seen and have thought about.
Trump. Before he changed the tax laws, my husband and I were getting a refund of several thousand dollars. We have to pay about $8000 this year.
I’m sorry!!Wow I thought you were defending your point from the standpoint of being alone. But you’ve disappointed me, you had a whole extra salary laying around this whole time, which I feel makes most situations involving debt less burdensome.
I FEEL DUPED.
I was mainly trying to figure out if things were feasible while being alone. Then when people started essentially saying I’m screwed, i brought up that extra point.
Full disclosure, I am also married so if I seem less panicked about the state of my life it is 1) because I'm in denial and 2) because I married a mechanical engineerWow I thought you were defending your point from the standpoint of being alone. But you’ve disappointed me, you had a whole extra salary laying around this whole time, which I feel makes most situations involving debt less burdensome.
I FEEL DUPED.
It is just bonkers that anyone would look at that number and be even remotely ok with that. That is predatory of schools to charge that to the poor students (like those in this thread) that just don’t get it.
Yeah it’s just sad I feel like everyone who seemingly manages debtload has another person to rely on, whether they actually end up needing all the money that extra person can give it just bums me out. Like what if I’m alone forever...I still want to be a vet and such...
I’m sorry!!
People still do it. Granted IBR and PAYE haven't been around long enough for anyone to hit forgiveness so that will be interesting to see.
You can be alone forever and still be a vet! You just won't be able to adopt more than 2 cats. Those lil guys get expensive with their FORLs and CKD.
The first order of my older kitty's prescription food was not through the student program and I about had a heart attack...thank goodness for the 50% off going forward
The bottom half of your message depresses me.
That’s okay, having so many throughout my childhood has made me realize I’d be okay with less, not none but definitely less. I’d like maybe a dog and a cat and I’m good.
That is why even on interview days when I'm supposed to be selling my school I tell people to keep in mind that the amount of debt they have can limit their financial ability to follow the path they want. It does you no good to come here wanting to be a zoo vet if at the end of it you can't afford to be a zoo vet, you know? I love it here but I'm fortunate that I only had to pay OOS tuition for one year.
My only thought about paying off faster vs paying off with IBR is that if you pay it off sooner your don’t have that debt burden moving forward. You don’t have to factor in your loan payments when thinking about if you can afford other payments. It’s a bad way to be, but I like to have peace of mind with one less thing on my plate. Even if I can just get my monthly payments to a more manageable level, that would be nice.
I'll be the devils advocate here. If you are concerned about your debt load, why are you going to Penn? Did you apply to/get accepted to any other programs? Penn is nearly the most expensive option.
Yup. We can all find examples of people who fell into a unique position and are making far more than the average......but "the average" means there are also a bunch of vets who are making far less than the average. No one likes to think they're going to make $20,000 less than the average, but somehow we all think we'll be the ones to make $20,000 more than the average. I think anyone who makes plans based on those dreams (of earning far more than the average) is foolhardy.
It made the most sense with my current situation. I live in philly anyway, my SO got into a Masters program in Philly, and the tuition ends up being close enough to other schools’ out of state. I have a lot of family in the area as a support system which is also very important. Lots of new babies coming into the family that I want to be around for when they’re growing up. Even if I take on more debt, it’s not the difference between $150,000 and $300,000. It’s much less of a difference than that. I can live with my SO as well and keep our relationship exactly as it’s been without going long distance for four years. That was a big factor.
Oh, my mistake. When you previously stated that student debt tax breaks were gone and that no one could claim them, I assumed by that you meant they were gone and no one could claim them. I additionally find it hard to believe that the vast majority of married vets have a joint income over 165,000.
I meant more along the lines of someone in my area. I said the $125,000 because that’s a good salary where I live and can be achieved, maybe not right out of vet school, but soon after.
That's fair enough. You could conceivably shave $100K off by going somewhere else, but you aren't going to end up clearing that amount with travel, etc.
Yea I know. I was mainly asking for a best case scenario. As in, if you make toward the higher end, is it feasible to pay off your debt much faster.
I ran the numbers and I’ll end up with around $250,000 before interest. That’s if I don’t apply for and get any scholarships. It’s definitely not a low amount of debt, but it could be worse. Especially since I’m making this decision for many other reasons than just money.
