What’s the tipping point for student loans? When they go from being an investment in your future to an anchor dragging you down? When does it make sense to go into a certain amount of debt—debt that you cannot get rid of EVER, even in bankruptcy—and when does a lot of student loan debt become too much?
I’ve been in student loan debt for what seems like half my life (wait, it has been half my life!) but not getting into too much student loan debt actually shaped my career.
I was wrapping up my masters degree and was on the PhD track when I did some calculations. So, I’m in $50,000 of student loan debt, will have to take on at least another $50k+ and the first job out on the private-practice track, I’ll be making $38,000. BBBbbbbzzzztttt! End of that PhD track.