welcome to the organic green doctor blog

i am a family physician who was diagnosed with
early mild cognitive impairment(mci) amnestic type on december 21, 2010
this is a precursor to alzheimers disease
because of this diagnosis i have opted to stop practicing medicine
this blog will be about my journey with this disease
please feel free to follow me along this path
i will continue blogging on organic gardening, green living,
solar power, rainwater collection, and healthy living
i will blog on these plus other things noted to be interesting

Wednesday, May 28, 2014

its obscene

thats the best word to describe the $1,000,000,000
thats 1 trillion dollars
it is the amount of student debt in the united states
thats guaranteed money for the folks that loan it

there may be no where else in the united states that this exists
not on your mortgage
not on your car note
not on your credit card
well thats another obscene thing

the banks or whoever loaned the money
could care less if the money is paid back
its all guaranteed by yes you got it
the us government

not like a mortgage or car loan
there is no negotiations of the interest rate or the terms of the loan
or even if you will ever pay it back
you will
it will never ever go away unless you die i guess
then theyll still get paid

so its the debt that your kids are carrying into their future
some of the debt is more than a mortgage
never it seems when you run the numbers ever to be paid off

when i attended college and medical school i sort of did the dave ramsey
method before he even was a financial guru
i went to junior college for 2 years and paid as i went
it took me 4 years to do 2 years as many of the semesters i went
part time
debt starting my junior year was $0

then i went to a four year university now remember this was
40 years ago
i received scholarships grants a few loans and i worked
when i graduated i owed $10,000
it took me 20 years to pay it off
luckily i guess i was able to defer it while i was in medical school
and training

i paid it off just in time for my youngest to start to college

then medical school i didnt have no money to start with
i survived on a brother loan and school loans
then after my first year i sold my soul to the feds
and left school with only $15,000 in debt

i paid it off 20 years later

remember these are 70s and 80s numbers
that was before the laws were against us
before the cost of education became so obscene

a relative will be attending a private school whose estimated
yearly cost is $26,000 a year thats $104,000 for 4 years
unless she is on the 5 year plan
which the schools seem to make it happen to a lot of the kids

no you changed majors so those courses dont count
sounds familiar huh
well make it an elective then

hopefully she wont be a school teacher
the starting salary in this area is about $35,000 year
its expensive to live here the closer you get to austin

luckily for her she has a scholarship for $64,000 of that
but do the math and she has to come up with another $40,000
now shes a smart kid thats why she got the scholarship money
and shes a hard worker also so she will work during the year
and the summers to bring that number down

lets presume she borrows money from our vulture system
thats $40,000 in loans
a ten year note at 10% since thats where it appears it will be
by the time she graduates
thats a monthly note of $533
recommended yearly salary to support that is $71,000
total interest paid is $23,669

sure doesnt look like a school teachers salary

now she is luckier than most since she has already dropped
the amount she owes by $60,000
im sure that will go higher but
using her story
im trying to make a point

you and i need to do something to fix all this
her generation will be debtors the rest of their lives if we dont

there is no absolutely no incentive for the colleges and universities
to bring down the cost
you are paying the tuition and fees and you and your kids are going
into a debt deep hole that you may not be able to dig out of

whos winning in all this
the banks and loaners as these are the best loans they make
the schools and universities just get bigger and more expensive

excuse me but im on a budget a tight one self imposed and you are
on a budget
im afraid their budget is open ended
that means someones paying and someones making money
its not you

so yes its obscene
if we dont do something
this generation is the new debtor class
unable to buy a home
unable to buy a new car
worse i guess they will continue to live with you
a very common occurrence
may not be able to get  a job that will pay things off
make enough to live on

now that sad isnt it
its our fault for letting this happen

the organicgreen doctor

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