During my New York trip, I stopped by Princeton, New Jersey to attend a college friend’s wedding. We were Spanish House housemates who used to flip on CNBC before class and dream of one day making it on Wall Street. This was back in 1998 when working in finance was all the rage.
Although he never made it into finance, he did something better. He became a cardiologist and married an opthalmologist. In terms of finances, their household is set for life. After all those years of training, I wouldn’t expect anything less.
According to the Association of American Medical Colleges, 84% of all 2014 medical students graduate with debt, and the median debt level is $180,000. That is a ton of money to be paying back. Or is it? Let’s look at why the “student loan crisis” the media harps on and on about is overblown.