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May 25, 2018
7:29
:42
am
Gustav
All-American
WSJ article on BYU-grad orthodontist with $1 million in student debt
Walks through how he went from no debt after BYU to racking it up at USC as tuition and rates rose.
https://www.wsj.com/articles/mike-meru-has-1-million-in-student-loans-how-did-that-happen-1527252975?mod=e2tw
This message has been modified
Originally posted on May 25, 2018 at 7:29:42am
Recategorized from Chit Chat to Business by JayOwen on May 25, 2018 at 7:36:50am
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Gustav
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gustav88
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Gustav
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Related Threads
Children:
POLL: If a story came out like this about your family orthodontist, would you switch orthodontists?
(Nathanael Greene, May 25, 2018 at 1:59pm)
If our friend Mike is an active user of CB, do you think he regrets allowing WSJ
(James Halpert, May 25, 2018 at 1:37pm)
RE: WSJ article on BYU-grad orthodontist with $1 million in student debt
(PCCoug, May 25, 2018 at 9:59am)
<< Deleted >>
(Buffalo, May 25, 2018 at 9:24am)
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Messages
Author
Time
WSJ article on BYU-grad orthodontist with $1 million in student debt
Gustav
5/25/18 7:29am
I believe this is fairly common. I have a friend in a similar situation.
Flippy
5/25/18 7:38am
We have enslaved an entire educated generation to the government
OU Cougar
5/25/18 7:46am
RE: We have enslaved an entire educated generation to the government
HuskerFan2
5/25/18 8:31am
You can't relieve student loan debt in bankruptcy, or everyone would take a
TailgateU
5/25/18 10:50am
The balance isn't right
OU Cougar
5/25/18 11:49am
A tip for reading paywalled WSJ articles:
CougarAndMerlin
5/25/18 7:39am
Tweet is here:
Gustav
5/25/18 7:43am
He can lead a frugal life for a few years and his debt would be gone
Cougs1
5/25/18 8:24am
Doesn't even have to be too frugal, just normal.
TailgateU
5/25/18 11:02am
You might need to open an incognito tab
Jennerstein
5/25/18 10:22am
Sounds like the guy lives a pretty great life.
Hedonic Threadmill
5/25/18 7:44am
Yeah at least it was a degree that pays
OU Cougar
5/25/18 7:52am
I never get that. I know a few people in my wider circles
mokelembembe
5/25/18 8:08am
Too much talk about chasing dreams and "doing what you love" - without balancing
Game Changer
5/25/18 8:27am
For sure. The thing is that attitude actually could be good if they
mokelembembe
5/25/18 8:41am
my experience is that few people enjoy hard love. People probably felt like it
Mayor of Cougartown
5/25/18 9:38am
Agreed. OTOH, I bet the people who pay him for their kids' braces are saying
panguitch
5/25/18 8:43am
I know a gal who was going to BYU, her dad was an employee there...
Eddie
5/25/18 9:17am
Get degree in something that pays. Minor in something of interest.
CougarThug
5/25/18 9:25am
Yes!! or get a degree in something that pays the bills and then have a hobby
Mayor of Cougartown
5/25/18 9:40am
I can't tell you the number of times I've had that conversation with my kids.
Eddie
5/25/18 9:51am
He is only one of 101 people in the US to have more than million dollars in
carlstud
5/25/18 7:50am
USC dental school is the worst for tuition
doubled1981
5/25/18 7:55am
And cost of living
TailgateU
5/25/18 10:11am
<< Deleted >>
dizthewiz
5/26/18 3:28am
Didn’t take advantage of food stamps from the government
AndyDwyer
5/25/18 7:56am
Although his debt example is on the extreme high end because he went to usc the
doubled1981
5/25/18 7:53am
He was at 300k before ortho training
WorfoSAUR
5/25/18 8:03am
Depends on the residency but yes many do
doubled1981
5/25/18 8:09am
That debt is crushing
CBaass
5/25/18 7:53am
What is this about student loan forgiveness?
Dr MoBYU
5/25/18 7:57am
RE: What is this about student loan forgiveness?
CBaass
5/25/18 8:01am
And then he has to pay taxes on the loan forgiveness amount which will be massiv
doubled1981
5/25/18 8:10am
Sure it will be, but can’t he then try and negotiate a reduced payment
Gigo
5/25/18 11:16am
I'm no expert on how that works, you're probably right. Still a lame way to
doubled1981
5/25/18 11:58am
Thanks. I didn’t realize we had that provision in our student loans.
Dr MoBYU
5/25/18 8:14am
That's a program he entered into. You might want to check yours.
Eddie
5/25/18 9:39am
Doesn't seem like it: nice home, vacation in Havana, and driving a Tesla...
Thrill
5/25/18 10:58am
If you do Public Service Loan Forgiveness, there is no tax at the time of
diluigifan
5/25/18 1:25pm
Good thing the fed stepped in and will forgive the remainder of his student loan
CougarAndMerlin
5/25/18 7:54am
By the end, it seem loan forgiveness is being used to support lifestyle
Gustav
5/25/18 8:02am
Ding! Ding! Ding!
Ned Schneebly
5/25/18 8:43am
I dont know about dental school, but for law school there is no reason for it
carlstud
5/25/18 8:03am
He is living in a nice home while his debt increases and he is
Baron
5/25/18 8:03am
I agree. That was really frustrating to read.
Nathanael Greene
5/25/18 8:10am
<< Deleted >>
Buffalo
5/25/18 8:14am
Have a family friend who is doing the same thing
Hedonic Threadmill
5/25/18 8:10am
<< Deleted >>
Cretin
5/25/18 8:12am
It isn't even that he went to ortho school and has high student loans...
Eddie
5/25/18 9:31am
I mostly agree, but I have a hard time getting that mad when the interest rates
joelvandyne
5/25/18 8:44am
<< Deleted >>
Buffalo
5/25/18 8:05am
If I were in his shoes, I wouldn’t agree to being featured in that article.
garyfan
5/25/18 8:09am
Terribly misjudged
Gustav
5/25/18 8:09am
Yep. He would lose my business.
Baron
5/25/18 8:10am
I've got a friend who works for a dental supply company.
Eddie
5/25/18 9:55am
A few years ago I went to a dentist that was suggested by my plan. The guy was
TailgateU
5/25/18 10:16am
Many BYU students are just like other kids these days. They expect to live high
panguitch
5/25/18 8:25am
After reading the article I think the WSJ trolled this guy.
James Halpert
5/25/18 8:35am
And he thought he was going to pay that back by taking a corporate gig in Utah?
boorad
5/25/18 8:53am
Way to think this through. I hope you can make it all come together well. If y
AFewThoughts
5/25/18 8:57am
Someone has been reading the white coat investor blog.
doubled1981
5/25/18 10:16am
I'm in the same boat. Podiatry school, taking out about 70k/year
powerbait
5/26/18 8:54am
RE: I'm in the same boat. Podiatry school, taking out about 70k/year
85fan
5/29/18 6:38pm
In Utah they say it is, but Utah is constantly growing so the need will grow too
powerbait
5/30/18 6:32am
This is how I approached it and they were gone in less than 3 years. Stay
blackandblue
5/29/18 6:39pm
Great example of financial stupidity costing the taxpayers.
CougarThug
5/25/18 9:11am
Honestly, this is why I'll never encourage my kids to be dentists. Tuition has
Windward_Coug
5/25/18 9:14am
yeah it's sad how much tuition has gone up. You're right, if you are going to
Mayor of Cougartown
5/25/18 9:44am
Go through the military. Or, go to a texas school.
diluigifan
5/25/18 10:03am
Military spots are limited and competitive now, very hard to get into few texas
doubled1981
5/25/18 10:15am
Yeah the market needs to humble dental schools and bring costs back into reality
doubled1981
5/25/18 10:19am
Are you sure his name isn't Mike Dumas?
boogers
5/25/18 9:15am
You forgot the "b" and the other "s".
CougarThug
5/25/18 9:20am
lol
calblue
5/25/18 9:35am
This is ridiculous. He's paying something around $1500 per month on a million
TailgateU
5/25/18 10:53am
How are you paying off $100K in debt in 2 years if your only paying $1100 a
carlstud
5/25/18 11:01am
Extra payments. We'll pay for our needs and then put the rest to debt by not
TailgateU
5/25/18 11:35am
I'm using the full thirty years to pay off my $130K for grad school.
Zooropa
5/25/18 12:28pm
At 2.2%, I think you're in a golden situation. That will be around inflation
TailgateU
5/25/18 12:34pm
you can't refinance a loan that large for 2.2%, I just refinanced my d-school
doubled1981
5/25/18 12:53pm
in the comments, someone posted his instagram account
BYUFBDAD
5/25/18 1:21pm
All the more reason he shouldn’t have ever participated in the article.
garyfan
5/25/18 1:30pm
He definitely seems to be lacking in his ability to consider future
Gigo
5/25/18 1:36pm
Wow.
Hedonic Threadmill
5/25/18 1:35pm
Wow, subsidized or not, hats off to him for maximizing life in Utah
Zooropa
5/25/18 1:36pm
This guy needs a kick in the groin. HE IS A FREAKING ORTHODONTIST!!
diluigifan
5/25/18 1:36pm
If what you say is true, then "Thumbs-up"
SouthernCoug
5/25/18 2:07pm
The guy is a hole and I hope he loses a lot of business over this article.
jcase16byu
5/29/18 11:20am
Anyone want to lay odds that this is TNT's secret identity?
panguitch
5/25/18 2:18pm
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