Dentist, 71, still paying student loan

[questionmark]

VACAVILLE, Calif. — His jaw clenched beneath a blue surgeon's mask, Opanin Gyaami jerks his right arm and pulls out a prize: the decayed tooth of patient Larry Butler, also known as state prison inmate J22312

.

By the time he is done, Gyaami's smock and mask are spotted with the inmate's blood. He gently pats Butler on the shoulder and wishes him well.

The 71-year-old dentist reports to the state prison in Vacaville day after day, long past retirement age. He wishes he could have hung up his drill and forceps years ago, but he's still paying off a student loan.

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WT*%$?

[MissMelsWell]

My sister has almost 60K in student loans, she's a doctor. Her husband, a software engineer with two masters degrees has another 75K. They'll be working until the day they die to pay their loans. Not surprised. And, they actually don't really make much money between the two of them. They own a tiny crappy house, in a somewhat high crime area, and are trying to raise two kids. They have one car that's 10 years old. They are not living high on the hog.

I guess they coudln't go on the Romney plan and have their mom and dads pay for their college.

[Orcseeker]

My sister has almost 60K in student loans, she's a doctor. Her husband, a software engineer with two masters degrees has another 75K. They'll be working until the day they die to pay their loans. Not surprised. And, they actually don't really make much money between the two of them. They own a tiny crappy house, in a somewhat high crime area, and are trying to raise two kids. They have one car that's 10 years old. They are not living high on the hog.

I guess they coudln't go on the Romney plan and have their mom and dads pay for their college.

Doctor and software engineer, doing badly... That is really saying something. On the software engineer front, he could always have a hand at making a great app and scoring a lump of cash.

[Sir Wearer of Hats]

My sister has almost 60K in student loans, she's a doctor. Her husband, a software engineer with two masters degrees has another 75K.

Makes me feel better about my 20k HELP loan debt...

[EllJay]

Dentist, 71, still paying student loan

He should have taken a loan from his parents -the Romeny way.

You know, the man who live in the "real world": -"You wanna bet?? ya wanna bet??....10.000 dollar...I bet you 10.000 dollar" -The Mitt Romney solution.

[MiskatonicGrad]

Is the student loan bubble going to burst like the housing loan bubble?

I often kick myself for not going to college but after hearing stuff like this I think I might stop.

[Likely Guy]

I borrowed $9k, payed back about $21k over 9 years.

I don't regret it.

[JGirl]

he shouldn't have screwed up his payments

at least he's paying it off though

i'm still paying mine and will be for a while yet

[acidhead]

WT*%$?

Dentist, 71, still paying student loan

He should have taken a loan from his parents -the Romeny way.

You know, the man who live in the "real world": -"You wanna bet?? ya wanna bet??....10.000 dollar...I bet you 10.000 dollar" -The Mitt Romney solution.

the alternative is just as worse my friend..

[Likely Guy]

When it comes down to student loans, it's the people that default and say 'oops, it doesn't matter' that bother me.

That is, declare bankruptcy and start anew. Especially at a very well paid job.

[Orcseeker]

I borrowed $9k, payed back about $21k over 9 years.

I don't regret it.

I'm not sure if this was made a few more years ago or currently but things have changed a lot in a decade.

[jugoso]

When it comes down to student loans, it's the people that default and say 'oops, it doesn't matter' that bother me.

That is, declare bankruptcy and start anew. Especially at a very well paid job.

I believe that they have made it much more difficult for students to do what you mentioned above.

Most people take on student loans with the highest of hopes. Even if you don't find the job you anticipated, repayment obligations usually begin six to nine months after you leave school. If you can't find work, the payments might be more than you can handle. Filing for bankruptcy might not make the debt go away.

Student Loans in Bankruptcy

Student loans are usually non-dischargeable in bankruptcy. This means that after your bankruptcy erases all your other debts, you still have to pay student loan debt. If you fall nine months behind, your lender can call the whole loan due at once. Filing bankruptcy can be an option in only one circumstance.

Discharge of Student Loans in Bankruptcy

The law lets you eliminate your student loans if paying them creates an "undue hardship" for you and your family. You must prove to the bankruptcy court that you're only earning enough to pay for a "minimal standard of living." This usually means you can’t afford cable, Internet or a cell phone - even without paying your student loans. You also have to prove that your finances aren't likely to get better. It helps if you were able to make at least a few payments. This shows the court that you tried.

File Adversary Proceeding to Discharge Student Loans

A hardship discharge won't happen automatically when you file for bankruptcy. You - or your attorney - must file an extra petition, called an adversary proceeding. The petition asks the court to make an exception in your case from the usual rule that student loans can't be erased.

Can you say sub-prime??

https://www.commondreams.org/headline/2012/10/16-2

[+and-then]

The student loan scam is the next trillion dollar bubble to pop. This guy's story is instructive in that professionals might just be "conscripted" to pay back with in kind services. Ahhh indentured servitude, hearkening back to the good ole days. Brer Rabbit hittin' the tar baby - oh my...