Insane Generation-Z Graduation Debt of $400,000

[Anonymous]

I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

[Anonymous]

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

This

America is a liberal democracy- government won't hold your hand

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

This

America is a liberal democracy- government won't hold your hand

Not saying it isn't. Still think they're screwed. Starting out in your late 20s with $500,000 in debt. Most people can't even afford mortgages that large (outside of the D.C. bubble and within).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

This

America is a liberal democracy- government won't hold your hand

Not saying it isn't. Still think they're screwed. Starting out in your late 20s with $500,000 in debt. Most people can't even afford mortgages that large (outside of the D.C. bubble and within).

Doctors aren't most people. Even a doctor in the lower earning specialties can earn $500k per year easily.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

This

America is a liberal democracy- government won't hold your hand

Not saying it isn't. Still think they're screwed. Starting out in your late 20s with $500,000 in debt. Most people can't even afford mortgages that large (outside of the D.C. bubble and within).

Doctors aren't most people. Even a doctor in the lower earning specialties can earn $500k per year easily.

Also, we have a very problematic doctor shortage in this country. Sanctimoniously telling med students they're taking on too much debt is pointing at the wrong end of the issue.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

This

America is a liberal democracy- government won't hold your hand

Not saying it isn't. Still think they're screwed. Starting out in your late 20s with $500,000 in debt. Most people can't even afford mortgages that large (outside of the D.C. bubble and within).

Doctors aren't most people. Even a doctor in the lower earning specialties can earn $500k per year easily.

Umm. No. That's after 10 years of degree-earning (don't forget most med school students take time between the BA and MD program to get hospital experience) and then residency (another 3). And then specialization (another 2). So you're talking 35 year-olds who have then amassed north of $450,000 in medical student loans. And the beginning salaries are $200,000 - $350,000.

At which point you probably have kid(s), a mortgage in an expensive city (because specialties!) and compounding interest on the loans.

Besides the fact that this kid isn't even going into medicine, he wants to do research.

[Anonymous]

In 2018, there's absolutely no reason students should be "shocked" about the costs of going to college and beyond.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

There is no reason for anyone to be $500,000 in debt for college. Go to a states school and skip the slac's and the ivy's. Geez. It really isn't that complicated.
This

America is a liberal democracy- government won't hold your hand

Not saying it isn't. Still think they're screwed. Starting out in your late 20s with $500,000 in debt. Most people can't even afford mortgages that large (outside of the D.C. bubble and within).

[Anonymous]

There is no reason for anyone to be $500,000 in debt for college. Go to a states school and skip the slac's and the ivy's. Geez. It really isn't that complicated.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought the millennials had it bad but the college grads today are f*cked.

https://www.reddit.com/r/personalfinance/comments/906m2l/fiance_has_390000_in_student_loan_debt_how_on/

In sum, the man has $390,000 in student loans and a starting salary of $47,000.

The woman will have $100,000 in student loans and a starting salary of $80,000.

It's their own problem. Sorry if you're graduating med school with 390k in loans, you don't "choose" to go down the research road -- you knew what your loans would be; you should only have gone in if you were willing to go into a competitive specialty and be a sub specialist. If you're taking out 390k for research, pediatrics or family med -- I don't feel that bad bc you didn't do your homework.

Not even sure what the woman studied as they mentioned "grad" school so I am guessing it's not professional school. Again if you're taking out a 100k in debt for your masters in public policy -- whatever - you gotta own your own problems.

This

America is a liberal democracy- government won't hold your hand

Not saying it isn't. Still think they're screwed. Starting out in your late 20s with $500,000 in debt. Most people can't even afford mortgages that large (outside of the D.C. bubble and within).

Doctors aren't most people. Even a doctor in the lower earning specialties can earn $500k per year easily.

I don't think that's true across the board. It CAN be true if you go into the right specialties in the right location with the right type of employer. In most specialties, you typically have to get away from the densely populated east/west coast where there are ivy med/residency grads everywhere (not far away -- but even going 1-2 hrs out helps your salary, though if you have high end credentials and are willing to move to Tulsa or Salt Lake they will throw $$$$ at you) AND you have to go private practice/private hospital. I know high end specialty types who could make $$$ in private practice with the top credentials who set their hearts on a top academic health system like UPenn or Harvard or Hopkins. That's great but from a debt perspective you need to make strategic decisions esp since you won't start paying off until age 32+.

This guy however -- hard to feel bad for someone with 390k debt who decides that he MUST pursue his calling and be a researcher rather than a urologist or ophthalmologist or something.

[Anonymous]

So I read a rule of thumb, that your student loans should not be more than your first year's salary with a job you get as a result of that education.

So the $100,000 for the $80,000 starting salary is high, but not absolutely crazy.

[Anonymous]

This guy isn't a COLLEGE grad, he's a MED school grad. Big difference in earning potential. Hopefully 47k is his salary in RESIDENCY and not his actual starting salary -- though it doesn't sound like it since the post didn't mention any specialty/area of medicine but rather just research. Well if you have 400k in debt, I'm pretty sure research isn't the right road for you.

[Anonymous]

Generation Z doesn't really start until birth year 2000, at the earliest. 2001 in some minds (i.e. post-911). These are just young millennials.

And, yes, regardless of when you are born, you need to understand and own the decisions you make when taking on debt. But I do feel a bit sorry for them...