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When Michelle Bisutti, a 41-year-old family practitioner in Columbus, Ohio, finished medical school in 2003, her student-loan debt amounted to roughly $250,000. Since then, it has ballooned to $555,000.
It is the result of her deferring loan payments while she completed her residency, default charges and relentlessly compounding interest rates. Among the charges: a single $53,870 fee for when her loan was turned over to a collection agency.
"Maybe half of it was my fault because I didn't look at the fine print," Dr. Bisutti says. "But this is just outrageous now."
Originally posted by MarshMallow_Snake
"no one forced you to go to school." People do not realize, it seems, that college is a privilege in this country and an expensive one at that.
Originally posted by crash override
i am a blue collar worker and in a union and i make as much as some of my foremans who went to college. i stay over and get time and a half and they stay get nothing.... plus more stress. i always ask them why? they say they dont know why...
Originally posted by rcwj1975
And the best part....college really is a sham. Or shall I say getting a basic Bachelors Degree is useless. Most of the time spent in college is paying for general courses that mean nothing towards your major, and then when you finally take classes IN your major, they really don't teach you CRAP about what you need to know when/if you get a job in that field.
Ever notice how when you graduate and get a job you have to learn almost EVERYTHING because the BS classes provided in college didn't prepare you for anything!!!! Its a $$$$$$ scam. Why do you think to get a government job you NEED a degree. Is it because all those classes will make you better than anyone else...lol..NO...its so the $$$$ you spend to take useless classes keeps the cycle going for those who fill their pockets.
Originally posted by truthseeker1984
Well, if she is indeed a Doctor, then she qualifies for the public service sector thing that Obama was talking about. After 10 years her debt is wiped out, and after 25, if she still has a balance remaining, it's still wiped out. Now whether or not I believe that is something entirely different and for a different thread.
If she is indeed a Doctor, she's probably making well over 100k a year. If that is the case, then it shouldn't be a problem to pay off that debt in about 10-15 years if she lives on about 50k of income. Of course, if she is a mother and has a mortgage and all that other stuff, obviously that is going to be a problem. If it were me (single male, 26, apartment dweller), and I was making 100K a year, I could live quite comfortably on 50k a year with the other half of my income going to my student loan debt. Not to mention that you also get huge tax breaks in the student loan interest.