Of course they are doing well, the ones who graduated in the past few decades, as a previous poster mentioned, did not have the debt load that is required now, and as for the ones that graduated a few years ago, they have not been out yet long enough for that 250-300k gorilla to really hit them hard. Maybe they are deffering loan payments right now, or paying a lower monthly rate right now. But with interest on a loan that high, eventually it WILL catch up to them, and they will have nowhere to run. It is simple economics that someone making 80k per year or roughly 5,000-6,000 per month depending on taxes will be able to pay off a 300k loan in their lifetime, unless they literally live as I stated before. Now what if you want a family- are you really going to make your kids live like that? With that debt load you have, how will you ever help them out with there college? How will you be able to have ANY savings? What if something goes wrong and you have an emergency and you need money?
I am not knocking these people, I admire them for having the courage to take a risk like that. Its too bad they did not go into business or become an entreprenuer, they would probably be retiring in a private suburb in San Diego. All I am saying is they think that its all worth it right now because they will LOVE what they are doing. But what about 10 years from now? 20 years from now? Will they still feel the same way after they see how it affects their family? Even if they dont have a family, will they look back and say I like this job but was it worth sacrificing the "American Dream" (A house, a family, 2-3 cars, being able to put dinner on the table for your family, and sending your kids to college?) Some will still say its worth it, but I bet most of them will not.
Also, in response to the 60-80k debt limit, I said 100,000 should be the maximum, which would not be THAT hard depending on certain factors. If you had a spouse or significant other that worked, they could pay for your living expenses or most of them hopefully and then all you would have to pay for is tuition. if you dont have that luxury, then you can work your ASS off during winter and summer breaks to make ends meet, maybe in a temporary or casual job in whatever you graduated in undergrad with (hopefully it was something useful). Bottom line is if you HAVE to go to a school that is charging 50k tuition per year like a med school, you should not be going to that school unless you have the money to do so. If that means you dont get into vet school because you cant afford it, well then thats life I guess, there are lots of people out there who cant do things because they cant afford it, that is life. I blame it a lot on society who makes everyone feel like they HAVE to have this or that and making it so easy now to just borrow money. Its not wonder credit card companies are doing so well now. I agree that Vet tuition now a days is rediculous and unfair, and hopefully the next president can get the economy back on track.
That's scary.
