> But where is the money going? I don't know many poor doctors, but most of the ones I do know are not exactly rolling in cash. The average debt is reportedly

> But where is the money going? I don't know many poor doctors, but most of the ones I do know are not exactly rolling in cash. The average debt is reportedly $190k for medical school graduates. > The country should follow N.Y.U.’s lead in recognizing the damage wrought by crushing student debt. Making higher education free for all should not just be a pipe dream. I don't know how I feel about this. I for one expect people who make over five times our target minimum wage[1] to contribute more through income taxes than they do now. While I agree people at higher levels should progressively pay dramatically more in taxes, if I were to run for political office today, I'd run on the platform of increased (federal) individual income tax for all and an eventual end to all tax credits, deductions, and any such incentives. How will these high earners pay my demands for a higher income tax if they have trouble paying their loans? I understand that take home pay per month with $180k salary is about $9k per month[2]. Let us say your student loan payment is about $2k[3]. Let us say that your medical insurance and other career related expenses are about $1k. This still leaves you with about $6k per month. Assuming you save half your income (which I hope you do at this income level), you have about $3k a month to spend on rent, groceries, and transit. Assuming you don't have any children and don't have any plans to have any children, this is not a bad spot to be in. Sure, one is not wealthy or financially independent until you are like 65 if you started working at 30, but if one wanted to make money, why is one in the medical field? In my opinion, it is kind of absurd to get into medicine and expect to become wealthy. [1] Target minimum wage of $15 an hour at two thousand hours a year is $30,000. Five times $30,000 is $150,000. [2] https://screenshotscdn.firefoxusercontent.com/images/f645f479-93ec-4185-97bf-8a96c7db3271.png https://screenshotscdn.firefoxusercontent.com/images/f645f47... https://screenshotscdn.firefoxusercontent.com/images/ecf93872-e97d-463d-a327-0cc557296d0c.png https://screenshotscdn.firefoxusercontent.com/images/ecf9387... I initially made the calculation with semi-monthly pay checks which made me doubt my math a little. I have since corrected it to a monthly pay check. [3] https://screenshotscdn.firefoxusercontent.com/images/61e426ec-8e53-4859-a178-db2960fb3991.png https://screenshotscdn.firefoxusercontent.com/images/61e426e... Interest rates vary but I am pushing for an aggressive twenty year loan which you should be able to refinance when times are good. https://members.aamc.org/eweb/upload/Education%20Debt%20Manager%20for%20Graduating%20Medical%20School%20Students--2017.pdf https://members.aamc.org/eweb/upload/Education%20Debt%20Mana... https://www.nytimes.com/2018/08/20/opinion/medical-school-student-loans-tuition-debt-doctor.html https://www.nytimes.com/2018/08/20/opinion/medical-school-st... Outline: https://outline.com/Cy2Pdp https://outline.com/Cy2Pdp Archive: https://archive.fo/dxmZG https://archive.fo/dxmZG