Re:The Problem of Doctors’ Salaries
by chimeracoder on Wednesday November 22, 2017 @01:15PM
(#15759039)
> Many people pay off their student loans last, as they're usually very low interest. You could have a student debt into your 40s but not because you can't pay it off - rather because it's cheaper than your mortgage.
As explained below, no, the debt load that doctors hold is not very low interest. It's in the line of 8-10%. For contrast, I have credit cards that have APRs within striking distance of those rates, and that's consumer debt.
You seem to be thinking of undergraduate student loan debt, which is heavily subsidized.
Does how long it takes someone to pay a debt off say anything at all about how big the debt load was? You've juxtaposed these sentences as if it does.
Many people pay off their student loans last, as they're usually very low interest. You could have a student debt into your 40s but not because you can't pay it off - rather because it's cheaper than your mortgage.
Why pay off a cheap debt to buy a new expensive one?
People probably pay off their student debts in their 40s as they part of pay off the last of the mortgages and look to finally get rid of other debts.