More student loan borrowers are now carrying six-figure balances, according to CNBC. A recent article highlighted a woman named Elisha Bokman, who carries a student loan balance of nearly half a million dollars. Even better is the fact that her massive debt load is a result of getting a doctorate degree in naturopathic medicine and master’s in acupuncture from Bastyr University.
Bokman now owes $499,322.69 as a result. We have to ask seriously: how many iPhones did she buy with that money?
Instead of taking responsibility, she now blames the student debt for her divorce ("He felt like he couldn’t live his life or do the things he wanted to do") and was stunned that nobody wanted to lend her more money to open her own acupuncture practice after already being extended nearly $500,000 in credit to get her "doctorate" degree.
The article notes that the average graduate now leaves school with $30,000 in student debt, which is up from $10,000 in the 1990s. However balances like Bokman's are becoming more common.
About 178,000 graduate students owed more than $100,000 during the 2015–2016 academic year, up from 51,000 in 2003-2004.
In the first quarter of 2019, more than 6% of all borrowers owed more than $100,000, which is up from 5.4% in 2017.
Rebecca Grable, who works as a pharmacy manager at Walgreens, borrowed more than $310,000 to study at the University of Oklahoma and said she was denied by more than 11 banks when she tried to buy a car a few years ago.
She said: “I feel like I’m stuck under it. I just never imagined being a professional who still lives paycheck to paycheck.”
Neither borrower made any comments regarding personal responsibility or their thought process when taking the loan out to begin with
Poster Comment:
If you had $500,000, she would marry you.
#1: ghostdogtxn To: Horse (#0)
ghostdogtxn posted on 2019-07-16 04:50:22 Reply Private Reply
#2: Pinguinite To: ghostdogtxn (#1)
Seems expatriation might be the only way out. It would work.
Pinguinite posted on 2019-07-16 04:55:08 Reply Private Reply
#3: ghostdogtxn To: Pinguinite (#2)
ghostdogtxn posted on 2019-07-16 05:00:09 Reply Private Reply
#4: Pinguinite To: ghostdogtxn (#3)
That continent would be my last choice, not counting Antarctica.
But a college or university grad, especially with a degree like that, should be able to easily emigrate to any number of countries. Not sure how some would deal with a huge debt claim from the USA, but there should be lots of options.
Pinguinite posted on 2019-07-16 06:40:00 Reply Private Reply
#5: titorite To: ghostdogtxn (#3)
titorite posted on 2019-07-16 06:57:10 Reply Private Reply
#6: ghostdogtxn To: titorite (#5)
ghostdogtxn posted on 2019-07-16 15:50:06 Reply Private Reply
#7: Lod To: Horse (#0)
The typical Walgreens Pharmacy Manager salary is $142,088. Pharmacy Manager salaries at Walgreens can range from $85,579 - $169,328. This estimate is based upon 250 Walgreens Pharmacy Manager salary report(s) provided by employees or estimated based upon statistical methods. When factoring in bonuses and additional compensation, a Pharmacy Manager at Walgreens can expect to make an average total pay of $145,525 . See all Pharmacy Manager salaries to learn how this stacks up in the market.
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Not exactly starvation wages but a 500K debt is a tough nut to digest.
Lod posted on 2019-07-16 16:17:28 Reply Private Reply
#8: Horse To: Lod (#7)
Horse posted on 2019-07-16 21:20:10 Reply Private Reply
#9: Lod To: Horse (#8)
It's good for me to not take any man-made scripts and to rely on God-given products.
Lod posted on 2019-07-16 21:27:13 Reply Private Reply