I mostly agree, but I have a hard time getting that mad when the interest rates

May 25, 2018
8:44:31am

joelvandyne Starter

are treated like points in Whose Line is it Anyway?

If after 25 years he's paid back 1.6M dollars on 600k in loans, and has an income tax bill for 700k still to pay, then I'm satisfied with the math.

Report problem with this ad

joelvandyne

Bio page: joelvandyne
Joined: Jun 16, 2015
Last login: Jun 16, 2024
Total posts: 24,673 (10,297 FO)

Report problem with this ad

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

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad