- Joined
- May 17, 2013
- Messages
- 1,941
- Reaction score
- 1,186
Don’t go into any health profession based on a projected debt/income ratio. If Income and debt are your primary concern then being a doctor or dentist is not in your best interest. Go into it for the right reasons. No matter what career you choose, you will have to face financial debt at some point in your life unless you plan on buying a house, car, etc. with upfront cash (good luck)! Think about it like this: student loans for dental and medical school are funding for your startup, which is you as an individual. You are the investment because you are an asset to society. From a lender perspective they are loaning someone money who is qualified and has the self confidence as a future professional to guarantee repayment. You bet on yourself. To put it simply: someone comes to you and said I have $500k and I want to purchase an asset that will guarantee me future returns. Do you tell them you are going to purchase a house or stocks? Or do you believe that your knowledge and skill set (which you have ultimate control over) are a better guarantee?
What do you consider the “right” reasons? To me being able to pay back what I borrow, not have the stress of debt looming over my head, and have a good lifestyle is very important.
I agree that Debt will likely be a part of everyone’s life at some point but that doesn’t justify Not having to worry about debt as long as you love your profession...