A present tale showcased prominently within the Wall Street Journal highlighted the plight of just one dental practitioner who has got accrued a lot more than $1 million in student loan financial obligation – without much possibility for ever repaying it.
To blame the Journal explained is the high cost of dental college tuition and student that is rising rates of interest.
Journalist Josh Mitchell, an economics reporter into the paper’s D.C. bureau, penned that Utah orthodontist Mike Meru is certainly one a lot more than 100 individuals in the us whom owe at the least $1 million in federal figuratively speaking.
Whilst the student that is typical owes $17,000, information through the Education Department show that roughly 2.5 million individuals, almost 6% of this borrowing pool, owe at the very least $100,000. (more…)