I was also going to tell my random peeps that I did some research about FP salaries and loan repayment. I don't know if any of you are interested but here's the post:
I was really curious about the numbers being thrown around in here so I decided to do some research. Salary.com has the median family practice salary at $149,374.
The tax on that (with standard and not itemized deductions and filing as head of household) would be $33,784. Now I live in Texas and we have no state income tax so you guys that live in a state with income tax would need to figure that out for yourself.
After taxes that's 115,590. After SS withholdings, 7256 by my estimate, that's 108,334
So an average monthly salary of $9027.
I found this loan estimator:
http://www.finaid.org/calculators/loanpayments.phtml
And plugged in my expected debt (100,000) with a 10 year payback rate and found that I would be making payments of $1,150.80 a month.
So 9027 - 1151 = 7876 take home a month (not taking into consideration that I think student loan interest is tax deductable.)
The website about loans had this to add:
It is estimated that you will need an annual salary of at least $138,096.00 to be able to afford to repay this loan. This estimate assumes that 10% of your gross monthly income will be devoted to repaying your student loans. If you use 15% of your gross monthly income to repay the loan, you will need an annual salary of only $92,064.00 , but you may experience some financial difficulty.
Yes, my numbers are really rough and based off of info I found through Google. Take it for what you will. I did this research for myself but then I figured maybe someone else was interested. Hope this helped someone!