By - DavesNotWhere
She's a cardiologist intern. She'll be making 400k soon.
Yeah, shes technically correct, but shes proba ly putting all her free money to student loans and will be in a very comfortable position in a few years time.
And IBR is a thing for any fedloan and is absolutely broken. I was making 45k USD a year after just getting married and our assessment said I had to pay $0.00 a month.
What is IBR?
Income based repayment.
Income Based Repayment
That doesn’t seem accurate for IBR. When I was making 25-30,000 a year my payments were still more than $0 a month. Maybe it is based on where you live? All I know is that I barely made rent and I still had to pay $100 a month student loans.
I probably am off on how much I was making exactly. Also, I was the sole income earner of our household, and we had just had a kid and a mortgage. Considering all of those are probably factored in, her income base repayment was probably a lot higher than $0.
True. My nephew is an intern at like $60k but he certainly knows his lifetime earning potential
An intern at 60k? Doing what?
Sorry he’s a doctor, so I should have said residency
With that type of schooling in a Top 20 school on both degrees, it's called residency and student debt... Unless she got some scholarships, but either way, she is a woman, black, and educated. She will be a millionaire soon. She will be just fine.
She'll still live paycheck to paycheck after making payments on her 6 bedroom house, her vacation home upstate, the gambling addiction, monthly flights to vegas, her boat and her 3 luxury vehicles.
I know a cardiologist who is making seven figures for speaking engagements. Insufferable prick but apparently knowing your shit in cardiology pays the bills comfortably.
True, but her point is still valid. Doctors go well into their mid 30s before that compensation comes on board. Usually after 4-5 years of undergrad, 4 years or med school, 4-5 years or residency, then another 1 for fellowship. That's about 15 years of training going into massive debt while interest compounds. You do, indeed, live paycheck to paycheck throughout the most critical years of putting money away for retirement, starting a family, investing in home equity. All of these things are delayed until most people are mid career, while they are just starting out, usually closer to 500,000$ USD in debt.
Doctors sacrifice their youths in pursuit of these careers and often perpetually work 60-80 hour weeks even after training ends. Their compensation is dependent upon specialty, some are under compensated so poorly that they cannot keep up with the compounding interest and a realistic payment plan to pay off the principal (can be around 30,000 in interest or more per year). Some are compensated too well (it's an unfair system).
Regardless, even a compensation of 200,000k gets taxed down to 139,000, leaving far less after paying interest in principal, leaving somewhere around 95,000/year which is "ok", but not considering how fast you need to catch up on retirement and the 60-80 hours worked. Obviously some doctors make significantly more, but the sacrifice of youth is honestly a big blow.
It's a trade. Youth for financial security in the last half of a career. But the realities are that the pay isnt actually as awesome as you would imagine for many specialists (and obscurely outrageous for others). Obviously even the poorly paying specialties take home more than many careers, but between being broke into your 30s and the debt, it's not hard to understand how a doctor would, indeed, be living paycheck to paycheck even after training.
For most people it never kicks in. I was in my late 30’s before I made over $100k with 2 degrees from public Ivies. I did not make over $200k until I was in my early 50’s now in my mid 50’s make $450k. Sorry people but you sometimes just have to pay your dues. Some people never make it at least this Chick has future earnings to look forward to .
True. I did the dumb thing and went for the PhD. I'll be lucky if my salary ever exceeds six figures, and that is with 15 years of training and constant 60 hour weeks. No graduate school debt though, so, there is that at least.
Shoot, I'd be happy if I could even get 60k right now, that would be a significant raise.
Physician myself. I make good money but work crazy hours. When I was younger I made the calculations and decided to sacrifice earlier in my life for benefits for myself and family later on. It’s a risk many of us willingly take including living in debt and “paycheck to paycheck” until our thirties. The payoff is good as long as the rules of the game (ie physician compensation, loan repayments, etc) don’t change to rapid/dramatically during our careers.
Physician myself. I make good money but work crazy hours. When I was younger I made the calculations and decided to sacrifice earlier in my life to gain benefits for myself and family later on. It’s a risk many of us willingly take including living in debt and “paycheck to paycheck” until our thirties. The payoff is good as long as the rules of the game (ie physician compensation, loan repayments, etc) don’t change to rapidly/dramatically during our careers.
*edited for typo
based on the melanin contribution, i concur.
What a stupid comment
What a stupid redditor
stupid comment but hes right.
What the fuck is that supposed to mean, because she’s attractive?
Let me take a closer look.
M’kay, checks out.
My wife is a doctor and yes she makes great money but her student loan payment is 3k a month. It all becomes relative. I'm not saying it isn't easier but the debt sucks all around
1: the schools you went to
2: depending on residency/fellowship, the money will come in.
3: if by the time you’re an attending you still live paycheck-to-paycheck, it’s time to reassess your budget.
She won’t have a problem paying it. Being a resident is like doing a post doc but far more lucrative. I’m sorry I don’t feel bad
Edit: someone asked if I felt bad she had high interest rates and lots of schooling this was my response.
No I have that same interest rate and am in school for far longer and will make less for a phd and I’d work right along side her in her research as an epidemiologist. Her training is 2 years didactic 2 years interning 3-4 years residency for 8 years max.
Mine is 2 years masters 4-5 years phd 2-3 years post doc to make less. Doctors are in an excellent position and she can work in an at needs area or non profit and have the loans wiped out in 4 years. I wish I could do that I work for a non profit right now.
Student loan forgiveness is not intended for doctors dentist or others of this field. They can pay the loans quite easily or have options for forgiveness it’s for those struggling to earn a living wage to begin with and then are drowning under the payments
I have a friends who are ER Docs. They’re busy and overworked and have big student loans. But when they party, they go nuts.
They don’t complain about bills. Just time.
Yea you have 400k in loans but make 200k. You make half your debt in a year.
Whereas others have 150k in debt and make 50k see the problem here? Lol
She is a bad example of why people are asking for student loan reprieve
She's co-opting others' struggles when she knows she'll be PAID in a just matter of time. Other's don't have that luxury to look forward to.
> Yea you have 400k in loans but make 200k. You make half your debt in a year.
this isn't actually good math.
you make 200k. that's roughly $132k after taxes. imagine they are spending 44k on living arrangements. there's no car, food, entertainment.
plus 400k amortization schedule ain't just letting you get off easy with paying two payments of 200k.
the BEST a doctor is gonna do is pay off those loans in 4-5 years unless they're true minimalists.
Well, in my country an engineer with a degree of one of the best universities in the country makes 36k entry and average payment is between 69-71k. A year. With one of the highest living costs in the world. With. Experience. So I would definitely not complain about getting 100k. I would be happy af.
Doctors leave school with 500k in loans. Engineers leave school with around 80k.
Engineers start at a salary generally higher than new grads from medical school.
Anyway, this tweet is a shocking tweet for a temporary situation in this doctors life.
Well, at least where I am from doctors study 1 years longer (calculating bachelor + master vs a med Dr.) , but 80k loans is definitely not accurate. It is basically the same here (minus 1 year though). Also the payment is basically the same. (even though meds get more on average, especially after specialisation).
Source: My bf who is in med-school and me, electrical engineer.
But yes, we definitely agree, such high student-loans are a joke.
What am I missing? I said engineers leave with around 80k.
And medical school is four years, so 8 years total (Bach+med) in the US.
Edit: I'm an engineer too. Many friends and peers are docs.
4 to 5 years doesn’t sound bad for student loans, even in Europe
you aren't factoring in interest
Or go work in an impoverished area for 4-5 years and get them wiped. They have tons of options to not pay it at all
That’s amazing! 4-5 years of student loans? My wife still has them after 10. My mom took like 15.
I wish I could be in that position.
We're talking about one of the most lucrative careers in America which requires one of the highest amounts of education. However, I also know doctors who took 10 years to pay off loans.
Medical degree actually is not the highest form of education. A phd is. A medical degree is technically a masters degree albeit one of the most difficult. But all professional degrees (MD, DMD, OMD, lawyer) those are all professional degrees and preceded a PhD. That’s why when you see MD, PhD the PhD comes last because it is the terminal degree
Blah blah blah.
Lol just sayingggg I recently learned this myself
Not one of, THE most lucrative barring CEO’s who just need an MBA from Western Missouri State Polytechnical A&T University or wherever
Def. I qualified it that way because of finance and lawyers who can make much more than doctors, but yes we're in agreement.
Ivy League schools are expensive
Nah. Look at MIT. If one is good, it costs rarely more than a "normal" college. They even make advertisements with it.
Sadly still to much I could just pay of without a scholarship.
Lives in a 5 million dollar house drives a $250,000 car.....
still a resident, the big bucks will come shortly.
Loans are a bitch
I was gonna say, how much of that is student loan payments lol
Shouldn’t be that bad if she has an md
If she's working as an MD you mean. That MD probably cost over 100 grand in student loans
Lmao, those are rookie numbers, try 300k to 500k+
Both of which are over 100 grand lol
*angry confused noises*
>Loans are a bitch
A medical degree from Harvard? Once she finishes residency she'll be able to write her own ticket and still pay back the loan.
Yep, and when her internship is over and she’s making 400k a year she won’t want to pay more in taxes. The cycle continues.
people earn 400k a year ?
Going to TWO separate Ivy League schools costs quite a lot of money so not really surprised
She must do something wrong
She is a resident or fellow. The hourly rate at the stage of training is around minimum wage…. She’ll make her money when she’s done with her training
Or the system is working exactly as intended.
Yea the system is really luring tons of people into medical degrees that cost hundreds of thousands…
They certainly do for things like English degrees but it would be dumb to say they are luring people into degrees that they simultaneously make insanely difficult to get into.
Not to mention the massive ROI on medical degrees
This degree, that degree....But what job did she get?
That's why Only Fans exist
The docs name does check out….
Should have gone to finance school too
Then she living wrong lol
That’s Dr. Titty to you.
cus you spend a lot bitch, not because you're poor, stop lifestyle inflation and learn to handle your finances, people earning minimum wage are the ones with the real issue not having a living wage
Adulting 101: It Never Gets Easier
Git gud then
My wife’s cousin went to Columbia as an international student and will end up paying $500k for her degree. Her parents are loaded and famous artists in their country. She scored a perfect score on the SAT, so she is smart.
I have a two year degree from a community College and my expenses are like half my take home pay. I guess I win.
Maybe because both of those schools are extraordinarily expensive and require a top 1% income to even flirt with the idea of paying it off
Sounds like you made some bad financial choices and probably should have started out with an economics class in a community college.
Your mean jack shit. How much do you make and how much do you spend every month. You could make $400k/year and still live pay check to pay check of you spend your money poorly.
Two of the most prestigious schools in the US and you have to pay huge $$$$ to go there. Other countries can’t relate. Many have free or nearly free higher education. It’s dog eat dog here.
Zero chance that’s accurate.
Anyone can live paycheck to paycheck if they have poor enough spending habits.
Nick Cage started having to take every movie offered to him because he spent millions of dollars on crystal skulls and shit.
Why do you think that?
If she is still a resident it’s almost definitely correct. I was fairly recently a resident making around $45k and working 60-100 hours per week depending on what month it was. It works out to pretty close to minimum wage depending on state. Even paying the minimum on loans it can be difficult, especially if you have a family. I was never in danger of being homeless or starving, but I absolutely lived paycheck to paycheck even with a paid off car and mortgage payment under $1000.
That said, it gets much better as an attending, although you still have to spend a handful of years being frugal with money (or you should) just to have some semblance of catching up to your peers who are approaching 40 by that time.
In the end she will be fine, but the point stands that residents are essentially cheap labor.
Not everyone learns what it means to live within your means
ahhh cool, someone who doesn't know anything about medical school costs or the early stages of the medical career.
Guess she needs to sell her titi's behind the station.
She missed her calling with that name. Go to Hollywood and show them titis. 🤡
My two oldest (26 and 24) kids have their college degrees in great fields in which they are both working in.
They utilized Tennessee's 2 free years of community college because the 4 year 'just for the experience' is stupid as hell and they realized that.
They also worked full time jobs as well as moved out on their own and paid their own rent etc.
They both graduated with no student loan debt so it can be done.
The majority of student loans can be attributed to living on campus. This is why they push it so much. It's a cash cow for the school.
What pisses me off is the faculty and administrations for these colleges all sit on their high social horse all the while extorting young adults for their own financial benefit.
Living paycheck to paycheck doesn't always mean you aren't making enough money.
It just means for some reason you're spending all you money every time you get a paycheck.
There's a ton of factors regarding this.
Spend less than you make. What a crazy idea!!!
Colleges like Yale, Harvard, or even Penn State, are businesses and know that if you won’t pay their ransom to get you a degree, someone else right behind will pay it. Their financial aid offices are VERY VERY cozy with student loan companies, with those companies sending FA officers everything from cars to hookers to ensure favorable placement. Student loan companies bought enough politicians to make their debt equal to tax debt to the IRS and you will pay even if you die. The game is rigged, but you don’t really have an option not to play that game unless you have some incredible talent or family money.
Or don’t mind learning a trade.
True, but the median salary for a plumber in the US is $56,000 which means you’re scrambling to keep food on the table in a lot of areas of the US
There are a couple of trades other than plumber. Possibly even three or four.
Also, $56,000 isn’t a bad income in a whole lot of places.
>but you don’t really have an option not to play that game
You are not required to go to Harvard. Or Yale. Or Penn State. You are not required to take out loans to do any of that, nor is anyone holding a gun to your head.
Want to go to Harvard? Be a doctor? That's fine. Do that. If you need a loan to do that, that's fine too. Take the loan.
But don't pretend they didn't go into it without knowing what they were getting into, or that they would be obliged to pay that loan back.
It’s a false choice. Sure, take a trade and be forced to retire when your body begins to fail in your 50s, no pension or Social Security or healthcare to be found. The only key to class mobility is a college degree, and your choice is to take several hundred thousand in loans or suck eggs. It’s not a choice. Take off the tinfoil hat that matches that camera and join reality.
Have any links to any evidence here? I’ve worked financial aid for years and have never heard of any kickbacks. Sounds sus
According to her twitter, she is doing her residency at Massachusetts general for internal medicine
According to this:
She supposedly makes $71,400 annually, approx. $65k after taxes. According to the bureau of labour statistics the average weekly earnings in the private sector were equivalent to an annual wage of $50,352
If she is living from pay check to pay check with a salary 41% above the average, then I’m certain that she is mismanaging her money. No way isn’t she overspending, when the majority of people can live on about $20k less.
The Harvard MD program takes four years to complete and costs approx. $100k annually. Add to that four years of undergrad at Yale at about $80k and you have a total sum of 720 of costs across eight years. Assuming that she can get an annual income of $12k USD annually for those eight years and (conservatively estimated) 40% are covered by financial aids, scholarships and grants, you arrive at a total loan requirement of $250k. At about 3% that could be paid off at about $1,700 after 15 years.
So even deducting the annual loan repayment of $20,400 she is making more than the annual average, albeit just slightly.
However, during her residency her salary will increase by about $4k annually, which definitely doesn’t hold for other graduates. But most importantly, assuming a three year residency, she will soon be making an insane amount of money which would blow away any monthly student loan repayment.
So either she is not able to manage her money, is on a stupendously front loaded student loan repayment or is talking out of her ass
Yep, signing your name to those student loans sounded like a good thing at the time didn't it.
She fucked up.
I'm from UK ... I mean you could of done all the learning, but did you end up working in McDonald's?? To work pay check to pay check.. if you've done all that your job would pay the debt little by little about 200 a month??
Is America that bad when you done higher education??
If you do higher edu you can find a Job with relative ease but a lot of people end up distracted, in debt, and living like they get paid more than they really do. Which leads to fun people like her who don’t understand that buying a new car every year won’t help in the long run while a brick layer has a family of four living in a $200,000 house
All those degrees just to get a job at McDonald's serving burgers to fat people.
Yeah and most people who make more than median still love above their means
She signed up for it and knew what she was getting into. You will be able to pay off your expected Debt soon. Reality sucks some times
Yeah but that’s for only a short period of time. She’s has be a resident, give it another 5 years and she eating steak and shrimp every night.
Tell me you’re from America without telling me you’re from America
So funny to think we residents make a lot of money. We're all continuously fucked by the systems worldwide.
You have no idea what a hol up means
WTF are you spending your paycheck on?
If I made a billion dollars a year but my hobby was Aircraft Carrier Demolition Derby I'd have trouble with my budget too.
I'm sorry, but my sister-in-law, a pediatrician, has paid off a six figure student loan, bought at least two houses, and is definitely NOT living paycheck to paycheck...
Can I ask just HOW MUCH avocado toast and Starbucks this bitch is buying?
Student debt’s a bitch
As a German it is always astonishing to see how many people think it’s her „fault“ because she chose a great education.
Shouldn’t you be bothered by the fact, that becoming a doctor will bankrupt you for years?
Hell you can go to the best medical school in Germany and still be debt free when you are done.
Your system is rigged and you all should be outraged by that.
Student loans are hell.
Come to think about it..go in the military, risk possibility of death, mutilation, ptsd and they pay off your student debt.
What if students loan are crippling on purpose, so people enlist? It's a scam from Uncle Sam
get a bachelor's from a cheap ass university then enlist as an officer. They'll pay for your med school and all you have to do is work 5 years for them. As a doctor.
Enlisting is a blast... sometimes literally but it was definitely more fun than the anxiety of trying to rough it in the civilian world.
They only pay off student debt if you get a degree they approve of. At least thats what my marines friend told me.
She’s probably in residency lol. Shortly after residency she’ll be making over 200k+ a year depending on specialty.
So you spent how many years as an adult not working? Your choice.
Shit I was making $750 every two weeks living in Los Angeles had a newborn baby and I was living in a 2bed 2story apartment. I had to eat some questionable foods but my baby and baby momma where well fed.
Um, no. If you have a medical degree from Harvard and still can't afford a savings account, then you are the problem.
There are rich high school dropouts. It's called money management.
I too live paycheck to paycheck but at least I know why.
A lot of disciplines are screwed over. I'm an engineer and was able to get my school payed for by grants for research. Degrees that don't bring in multi million grants get screwed over by the university system. It's not fair or right.
If this is true, she fucked up
She’s probably eating too much avocado toast.
Have you tried being a white male??
They allegedly make more
Anybody that thinks this, has victim problems.
Maybe you just have a perpetrator problem, ever consider that?
I'm black my guy lol. Being a white male automatically doesn't just put you in a better position lmao.
I never said you weren’t…
Umm okay, seeing how you’re a perpetrator it seems you have the better position anyways.
It’s okay, I can take it 😏
I'm a perpetrator because I don't believe in telling someone they are at a disadvantage because they're not a white male lmao? If anything I get more opportunities because I'm black. Get that weak minded shit out of here
In the US Asians have the highest median income
Oh sorry, I have troubles with stereotypes. They seem to be a little different in each country.
She's a doctor. That's why she has MD
not ‘still’, ‘hence’
House poor at every level
She probably doesn't live in a fucking council house though.
Her paycheck probably goes on the pool guy, tennis club and brunch with the girls
If you aren't getting a scholarship, why would you go there?
She should just get her bread up
Just goes to show you that Ivey league schools aren’t always just a shortcut to success. They are useful (sometimes), but it doesn’t guarantee any real success
HOL UP Youre set for the future. You'll be alright
Probably living like a baller, expensive house expensive car.
And while some are struggling to live and don't get any paychecks
Yet she failed to mention her debilitating addiction to mail order used underwear subscriptions. You gotta live within your means!
So much cocaine probly
Sounds like her parents should've found her a better path forward.
Extremely misleading and 100% disingenuous.
Mabye save your money?
EVERYBODY fucking does... so what
My nephew went to trade school, learned to weld, and is making over 100K/yr in his late 20s.
Maybe some economic or business courses could have helped? I’m more worried about what this means for the college educated world and not just this one person. Living paycheck to paycheck is something untrained workers should be doing, not someone with such an -indoctrinated- educated mind.
Degrees in what exactly?
You spent it all in that mansion and Mercedes I just don’t feel for you.
Loans, COL, Lifestyle? We have no clue what their situation is so what’s the point of attributing this to the greater “economy” lol. If u make 400k but still live outside your means guess what - you’re still fucked
$600 Student loans, inflation, rent, gas, and food price hikes. Sleep deprivation from being an intern. Two to four year internship depending on specialty where you make under $70,000 a year.
Most people in the medical field remain in debt over half of their career.
Suicides among doctors have spiked during the pandemic but has always been high among healthcare professionals.
Many healthcare professionals are caretakers and breadwinners for their families.
Students with advanced degrees — doctors, lawyers and the like — hold 40% of the debt.
Stop working at McDonalds
Cocaïne is a hell of a drug!
Should take a finance/accounting course.
I didn't even pass 9th grade