So, im $420k in debt from med school student loans and will not get residency this year...

So, im $420k in debt from med school student loans and will not get residency this year. Are there any inspiring stories of people turning things around and becoming financially successful? I could use some ideas and motivation

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I have nothing to contribute that will benefit you, but I want to know how you cucks became who you are and have or had the money you do.


TLDR: Hope you get help OP.

Who are the rich cunts and how did they get and now maintain financial freedom.

>$420k in debt from med school

Fucking hell user.

What degree did you get? MD, DO, DDS, DMD, DC, DPM? What residency were you shooting for?

Not to be a jerk, but find a job. Anything. Under the table I would say to avoid loan repayments.

Yeah you can turn it around. But it's tough missing this year. Cross your fingers for next year. Or leverage your degree & go do research, work for an insurance company, drug rep, college teacher, etc...... You have medical knowledge, try to use that somehow as not everyone has that.

MD. I went the carribean route like an idiot. Had to repeat one of the licensing exams. Im fucked if I dont get it next year. I dk, I could do an income-based repayment, but Id still have to become wealthy if I can ever hope to repay the loan. Its like a person becomes without options with so much debt

Im honestly considering suicide desu

Well, at least I'm not as fucked as OP.

>50k debt from accounting degree
>can't find a job, "entry level" positions all want 2 years experience (and turn me down specifically because of this, even when I apply anyway)
>fucking clerk jobs that pay 14/hour want 5 years experience

I'm vandwelling. Saves me 10k a year from avoiding rent. In 5 years my degree will have been covered by this savings. So OP, just live in a van by the river for 40 years and you're golden. But honestly there is no legal way for you to make enough money to pay that off. I'd say honest to god, move to a turd world country, they'll take you like you shit out logs of gold. They have no standards at all, so your licensing shit won't matter. Live in india or something and live like a king.

The only thing keeping me hoepful is that Im still young, im only 26, so basically ill be forgiven from my loans at age 46, my only real issue with that is that whatever remains on the balance would be considered taxable income. Fingers crossed that Congress passes legislation making forgiven loans no longer considered income. Otjerwise id have to declare bankruptcy on that if im not rich in 20 years

>$420k

Jesus, is that true or you just yanking my chain?

Become a mob doctor, you could probably pay that off quick

460k wtf how is that possible? Are these usual med school loans?

>be too poor to repay a loan
>they throw it out and call it a loss
>get taxed

ahahahahhahahahahahaha
Holy shit though, when can we blow up Congress? Nigger I'm serious, just move to china, india, or someplace like thailand or chile.

>mob doctor

OP, you and me, let's go into business and work for the mafia. They love accountants and doctors, and the mob owes a life-debt to my grandfather. I've honestly been thinking about it. Drop me your email, I'm serious, it sounds like fun.

Finish your med school and you can be debt 3 after 3 years

Sounds like he did, but he went to Carribean so it is really hard to get placed into a residency which you need to start practicing.

That is actually very cheap for an MD. My wife is 225k in debt right now for her PharmD (7 years) and still has 1 year left.

Just FYI if you default on student loans you can have your passport revoked along with a whole bunch of other crap like forever being barred from any professional license, any kind of public assistance, never get a tax return again, etc

poor people should not be in med school unless you can manage straight B's

join the military

OK FBI

Im not proposing to default, Im saying their are income-based plans under which I could survive.
Trump promised to cut the loan repayment period down to 15 years. I doubt it will pass, but that would be great.

This is why med school is fucked.

At least as a dentist I can just go somewhere and set up shop without having to worry about residency. The navy is paying for all of my student loans though so I won't ever pay a dime of the 400k tuition and the accompanying 150k of interest.

This, OP it's your only hope at this point.

They'll give you a cash bonus to pay down part of your principle. The best option would be to do HPSP so you'll never pay the interest in the first place but this is probably the next best option.

>420k for medical school

It's that bad.

The best part is grad school student loans aren't subject to interest freeze. So, the loans youre taking out are accumulating interest the entire time you're in school and have no ability to pay them off.

By the time you're done it's more like 600k when you consider all of the interest paid. People who don't do the military or go in-state are suckers.

No, you don't understand, it's extremely important that as many blacks become doctors as possible even though the MD shortage is a meme

600 000 student loan

Are you from Vancouver user? My sisters friend is in exactly the same situation as you - carribean med school, tons of debt, can't find residency.

Don't really have any advice besides trying to find under the table work to at least improve your quality of life, but I hope things look up for you.

If he had a DMD/DDS this wouldnt be an issue because you can just go out and start practicing after school.

There also aren't any Caribbean dental schools as far as I'm aware.

youtube.com/watch?v=r1NJzEYARlM

What are your career prospects in the future? How much money do you think you are likely to make?

Shouldnt it be cheaper in the carribean??? I dont get it. In Mexico I think its 100k dollars

>So, im $420k in debt from med school student loans
haha, faggot
didn't read further

Take out more student loans then take 1 class at community college while you get shit figured out.

Become a doctor for mexican cartels and take money in cash

why is it hard to get residency from a carribean school?

You're fucked in the US. Move to another country and try again

Basically, there are more MD graduates than there are residency spots. Since doctors MUST undergo residency training to practice, this creates a problem since a certain number of graduates fail to match every year.

This leads to problems for graduates of less prestigious programs like Caribbean med schools (rep. for lower quality) and DO degree graduates. They just don't tend to make it through the bottleneck.

> work your ass off in school for nearly a decade
> still end up a NEET on Veeky Forums
> a NEET with 400k debt and accruing interest
This world is comical

Why would you go Caribbean?
What kind of residency are you trying to get? Is it family or internal?


Caribbean medical schools are often thought to have a lower standard of education than American, so that automatically puts them at a disadvantage. Also, they take in people that couldn't make it into an American medical school, so it adds to the stigma of a lower standard. And lastly, the final part of your medical education, the residency, relies on not just test scores, but connections as well, which Caribbean schools have to fight hard to keep any sort of contact. There are a few Caribbean schools that give you a chance at getting a residency, and those are known as "The Big Four". Don't forget that while these schools do residency in the US, they are counted as international students, so you have even less priority. Also, they can be on the pricey end of the med school tuition spectrum (as you can see by his 420k debt.) They can charge 30k+ per semester. Though let me say this: even with all that, you can still go there and become a great doctor, but god damn you are going to have to work very hard to get to where you want to be.

student loans are the only debt that doesnt disappear after a bankruptcy, work hard for med school or you're really fucked

How come debt is that huge for med majors?

You guys' loans aren't securitized yes? If you answer yes that means you and your degree are fucked

This is probably his best bet. He is now just as poor as the people that join anyway

> 420k in debt

AHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAA!!!!!!!!!!!! Good job cuck

Wow, I'm an accounting major and this sounds terrifying. IS the accounting field that saturated?

>So, im $420k in debt from med school student loans and will not get residency this year.

if you don't get a residency flee the country, probably to vietnam or cambodia. you won't make a whole lot of money but you can get hired there. you will NEVER pay off that debt so just abandon it

American?

Teach English in Asia while you're waiting for whatever opportunity you're waiting for.

You shouldn't have to pay shit back because your AGI is 0 (not required to pay any taxes if you're an expat unless you earn over $99k).

Caribbean school?

If you can go and get another degree, like P.A. or something in America at a top school. Your M.D. means you're a shoe-in. The extra debt from this extra degree will be worth it. You'd be able to actually pay off the debt and retire eventually rather than die as a wage slave. You'd have to swallow your ego bigly though.

Where are you from?
Try getting one in the UK/Australia or Canada if American

here in germany we can get a doctor at a university for 50€ monthly :)

I think the issue is that there are so many people with experience looking for jobs... It seems to be an either/or thing. Either you make 12/hr as a clerk, OR you work 80 hour weeks at a corporate fuckoffice and lick floors all day, but at least make 50-60k.

Personally I wanted to do online work, but they all require two fucking years of experience, and I'm not getting any IRL jobs it seems. A part time online job would be so amazing. But you have to lick ballsacks and rut on a garbage bin to be a glorified errand boy, or worse, unpaid internships, before you can get a decent job.

I seriously see jobs that pay 14/hr that require 5 years xp.

Unless you want to do a CPA, stop at an associates. BS was a waste of time and money.

>graduating optometry school next year with 230k usd debt
>job offers for fucking 90k starting growing to 100-115k after a year or two

Life is worthless anyways desu

there are fucking 22 year olds making more money being software engineers than me with 8+ years of education and a doctorate

How the cuck do you get up to half a million in debt without freaking out?

Yes
Also, automation is coming hard and fast for a lot of accounting positions

underrated

DO Orthopod, chiming in

If you go the DO route, its a great time to do it... MD and DO will merge in a year or so for residencies

To add here's my story:
>Graduate undergrad with a B.S. Neuroscience
>GPA is a literal 2.7 (I switched majors my sophomore year, and really didn't study much)
>Decide to get my shit together
>Retake classes at a community college, ace all of them
>After a year, all the A's add up and boost GPA to 3.1.
>Study ass off for MCAT, score around a 35 (pretty average)
>During my downtime I'd scribe, network, and go do medical missions during the summertime
>By network I mean I pestered doctors by talking to them all the time, eventually befriending them.
>Apply for DOs
>Get a couple interviews
>Be honest during them, tell them I fucked up really bad, but I matured and made up for my mistakes. Medical missions opened my eyes to the need of the underserved in the community (sugarcoat it if you have to)
>Get in DO school, work ass off
>Match to a DO orthopedic program in Ohio
>Now I'm 3 years out of residency and enjoying life.

Just work your asses off lads and in your downtime shitpost on an austrailian boomerang design blackboard.

It's almost as if Op has a mortgage except he has no house lolol
Become a vet

Christ

You should have just been a smart plumber

I'm a Canadian, my gpa is 3.1. I have decent EC's and have strong letters of rec from doctors (but not from profs). Assume I do a bit better than average on the MCAT, do you think I could get into a decent DO school?

((just asking in retrospect))

ETH

See
I don't how it is for you canadafags but thats what I did

Hi there - chemical engineering degree w 27k debt (interest free because live in a civilised country). Found entry level job for 82k/yr - in short be born into a better country.

In canada, getting into med school is near impossible, I have SEVERAL friends who had 3.8+ gpas, some with 3.95 3.98 etc. out of 4.0, tons of research experience, presidents of clubs at their unis, good MCATs, ec's, recs etc. and they still didn't get in

getting into med school is a shitshow in canada, I'm currently an optometrist which isn't too bad, pretty relaxed lifestyle and whatnot but if I could do it again, I'd go to the US for a DO school, become a family physician and work 3 days a week fuck it

do you mind giving me a relative timeline of how old you were and shit? the only thing I have to be proud of atm is my relative youth compared to MD grads and shit

reading this thread is seriously making me consider turning down a pharm.D program and just trading memecoins with my NEET bucks

How much is tuition/year? I hear the job market for pharmacists isn't too good. If you're fine with being in debt for like 10 years, you can do it.

In all honesty, after taxes/paying debt etc. my take home pay is like 10-20k a year depending on how much I pay towards my loans

at the end of four years i will owe $100,000. I may, MAY be able to wring a free ride out of it by pleeing total poverty (my income is not taxable/reportable) but seeing this thread is just demoralizing me, especially that you are correct that pharmacist field is not exactly booming, i went into pharm d because i am smart at medical stuff but i hate blood and gore and the campus (Mercer) is within driving distant to my house, the only other medical type school (Emory) is...well...im not getting into emory and the tuition there is like a gorillion dollars...FUCK I WISH I LIVED IN EUROPE

I don't want you to take my advice blindly and then blame yourself or me years later on.

Worst case scenario as a pharmacist you'll make 90,000, after taxes that leaves you with like 65-70k. 100k debt is not that bad at all when you earn that sort of net income. With that 65-70k, hell, let's assume it's 60k only. Assume you rent an apartment, after electric/wifi/gas/wifi etc. that's like 1500 a month at most, leaving you with 42k. Assume you eat out a lot and spend like 300 on food/fast food a month + another 200 on groceries, you're sitting on 36k. Assume you spend 400 every month purely on yourself, things like buying vidya, going to the movies, going out with friends, bar, whatever, you're at 31k now. Assume you buy a nice car and have to make a payment of 900 a month, you're at 20k now.

You have 20k, spend 15k towards loan payment and 5k in savings.

And mind you, this is with the very liberal figures I give (on shit like food/going out etc.) if you live frugally you'll have like 40k left over. So paying off 100k won't be difficult. Not everyone has richfag parents. There are immigrants I know making only 40-50k who have 400k mortgages on homes, they have entire families to take care of too, if these sorts of people can make a living, you as a pharmacist should definitely be able to.

I was hesitant towards this degree of schooling myself, but after learning that basically nobody defaults on their loans and that everyone pays it off, I just took the shot and went for it. I in all honesty live comfortably.

thanks ill take that all under consideration

>buy a nice car and have to make a payment of 900 a month,
Yeah that sounds like a good idea

Well graduated when I was 21, took the year off and did community college for a year so that's 22, then got in the next year at 23. Graduated at 27, and then 6 years practice (Ortho), so 33 and then a year of fellow as a joint specialist with BMAC training. So in all 34 is when I was done. I'm 37 now. Best shape in my life too, banging 23 year olds. Wew lad

Oh wow since when did college become THAT expensive in America? I mean here in eastern europe you don't pay more than 500 euros a year.
16VhPNvjEtxDwxaSE4NuKKJZRSrLW84Tx7

>The best part is grad school student loans aren't subject to interest freeze

Wait what the fuck. Why are we trying to Jew our students this much? That's actually insane.

Could have voted for Bernie you stupid prick. BTW, I'm not sure why you think they'll be forgiven in 20 years hahaha

when you were considering puting yourself in debt for +400k $ why didn't you consider to ride public college in europe? you can study for free and even we pay your lame residence

400k+ in debt for a degree damn it, do teachers suck your dick on daily basis?

I guess you do and pay for it

GO INTO PLASTIC SURGERY YOU FUCKING FUCK!

LOOK INTO PLASTIC SURGERY IN SOUTH KOREA. LOOK INTO IT NOW.

> be American
> undergraduate in Psychology
> 3.87 GPA because it's an easy major
> President of clubs because I'm not Autismo
> 35k in debt
> Graduate and get the first job I can making 40k + mileage (3-4k)
> Pay off 17k in loans while still living better then I did in college
> Save 10k in bank
> Get 3k in 401k through job (6% match)
> Only loans left are Subsidized at 3.4%
> Apply and get accepted to Masters in Biostatistics program
Honestly just work for a year and pay the real nasty ones down. I had fuckers at 6.8%

>6.8%
Why is this legal?

study in germany, med school is free (if you have the best grades of course)

I used to eat food from trash cans, now i run a small business.

Consider living in europe.
Your debt will be frozen and you can find a fresh career.

wait. you have a BS in accounting and didn't do the CPA???

I mean, if you're comfortable with the thought of looking at that number for around a decade or two you'll be fine.

lol gg no re

>straight Bs
>he doesn't know how med schools work
Nigga you have to get 90% or you fail.

I would recommend joining the military. At this point it's your best option.
>have MD so you'll be in a higher position than a recruit out of high school
>Work for them for 3-4 years at a military base taking care of the family of soldiers or the soldiers themselves
>people love military folks because of the discipline and working in a structured environment
>so post service work opportunities are higher

If that doesn't sound appealing to you then I would recommend working for a 501(c)3 for I believe 3 years and then they forgive the rest of your loan.
If neither option sounds good then I would recommend you start living like a person on minimum wage until you've paid off your loans.
On the bright side, no matter which route you go down, you'll be doing what you love even if it's not making you the money you want right now.

that is 90% on 55% which is accepted for graduation

You could live like a king in Mexico fucking hot latinas with 400k. Do people have common sense anymore?

He could also have studied anywhere in Europe, even at elite universities, and kept 370k in his pocket.