A story that is recent prominently within the Wall Street Journal highlighted the plight of just one dental practitioner who’s got accrued significantly more than $1 million in education loan financial obligation – with little likelihood of ever repaying it.
At fault the Journal explained is the high price of dental college tuition and increasing education loan interest levels.
Journalist Josh Mitchell, an economics reporter into the paper’s D.C. bureau, composed that Utah orthodontist Mike Meru is just one a lot more than 100 individuals in the usa who owe at the least $1 million in federal figuratively speaking.
As the typical pupil debtor owes $17,000, information through the Education Department show that roughly 2.5 million individuals, almost 6% for the borrowing pool, owe at the least $100,000.
Mr. Mitchell’s tale centered on Dr. Meru, 37, whom graduated through the Herman Ostrow class of Dentistry at the University of Southern Ca in ’09, and finished his orthodontics residency there in 2012.Continue reading