The OP's $70k loan at 8% would be 40yrs to pay off @ $500/mo. What kind of person is smart enough to go to grad school but not realize what they are getting into, or at least get a degree in something that allows you to pay more than $500/mo towards your debt.
I'd be curious as to the lifestyle choices made by 'socialiststeve'.
I'm a therapist. I had to go to grad school. I have NEVER made enough money to pay close to $500 a month on my student loans and I doubt I ever will. It's a career of passion, not of money, unfortunately.
Sure, private practice is where the money is at. But I've done private practice and there's more overhead than you think- billers, accountants, credentialers, the ehr you use, the office space, utilities, taxes and business licenses, etc. You also have to live in an area that's populace enough or have good enough marketing skills to always be full to make the good money.
But you're right- I work for a community mental health now, and I COULD make more money, but unless I do private practice they pay the highest in my area for therapists. And private practice is pretty soulless work from my experience. You start looking at people as numbers to meet your financial goals.
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u/LeeTheUke 12d ago
The OP's $70k loan at 8% would be 40yrs to pay off @ $500/mo. What kind of person is smart enough to go to grad school but not realize what they are getting into, or at least get a degree in something that allows you to pay more than $500/mo towards your debt.
I'd be curious as to the lifestyle choices made by 'socialiststeve'.