A current story showcased prominently when you look at the Wall Street Journal highlighted the plight of just one dental practitioner who may have accrued significantly more than $1 million in education loan financial obligation – with hardly any probability of ever repaying it.
To blame the Journal explained is the high price of dental college tuition and student that is rising interest levels.
Journalist Josh Mitchell, an economics reporter into the paper’s D.C. bureau, penned that Utah orthodontist Mike Meru is certainly one significantly more than 100 individuals in the us whom owe at the very least $1 million in federal student education loans.
As the typical pupil debtor owes $17,000, information through the Education Department show that approximately 2.5 million individuals, almost 6% regarding the borrowing pool, owe at the very least $100,000. Continue reading