Orthodontist Mike Meru has it all: career, family, house, and a $1 million student loan that grows by $130 every day https://t.co/VoiLRrBWDh

— The Wall Street Journal (@WSJ) May 25, 2018

https://twitter.com/WSJ/status/999999787461160962

I get it. I'm a dentist and know how expensive it is to get the degree, however...

at some point you need to take responsibility for your choices. You can't come out of school with the attitude that you're a rich Orthodontist. YOU'RE BROKE! In fact, you're worse than broke. The homeless guy on the corner has a net worth of $0. This guy's net worth at the end of residency was at least negative $601,000. Add a home and car onto that and the net worth is negative $1 million before he's made a dime.

I have Orthodontist friends that are sitting in the $700,000 range currently that finished after he did. The difference is, they are not paying $1500 a month to their student loans. They are paying at least triple that amount and often much more. They didn't go to Utah to practice and are making choices that allow them to pay off the loans.

The problem is living like the rich doctor. At $225k income it is very doable to live on $75k, pay your $50k in taxes, and pump $100k a year into your loans. It takes dedication. It takes seeing that debt as an emergency. Driving a Tesla and going on expensive vacations are out of the question. I don't think it is possible to pay off that debt now. If he would have started after graduation and put $100k a year into the loans, this would be a much different story.