Reply to Insane Generation-Z Graduation Debt of $400,000

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=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.[/quote]

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.[/quote]

This

America is a liberal democracy- government won't hold your hand [/quote]

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).[/quote]

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

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. [/quote]

lol come back when he's 40. He'll be taking his BMW to the car wash when he leaves his practice at 12 on a Wednesday en route to the golf club. Unless he is incredibly specialized in a big city, in which case he'll be complaining about how all the women he meets are only interested for his money, before leaving for the club at 3. [/quote]

If he were doing dermatology or optho -- absolutely. He's going into full time RESEARCH. It's not the same over the top lifestyle at all.[/quote]

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