Reply to Financially hobbled for life- elite masters degree that don’t pay off

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The rule about only paying for professional graduate degrees exists for this reason. If you are in a field where the average graduate makes 30k, a masters that costs over 100k is always a bad investment [/quote]

Yep. Same principal applies when you're in a field that pays maybe $125K and you took out a $1 million in loans plus three kids and two cars.

https://www.wsj.com/articles/mike-meru-has-1-million-in-student-loans-how-did-that-happen-1527252975[/quote]

an orthodontist making 125k is choosing to make less than the can. Quick google has the national average at 225k. I'd assume it's higher in high COL areas. That debt isn't the result of loans, it's the result of not realizing that you need to make enough to service your debt. [/quote]

According to the article he was making $225K a year. But the high-interest rate combined with his family expenses meant he couldn't pay it or didn't want to? Instead he's paying a mortgage taken out in his wife's name, a Mercedes-Benz loan, a Tesla payment, two daycare tuitions, and vacation fees.

[i]The USC education helped Mr. Meru earn $225,000 last year working for a corporate practice in Draper, Utah, 20 minutes from Salt Lake City. That compares with a $158,000 median income for dentists, according to the Labor Department.[/i][/quote]

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