Student debt levels in America continue to climb. . . at alarming rates. No field of study or degree area is immune. No matter the career path, the cost is increasing.
A recent article by Business Insider takes a look at this issue, and it’s effects on ALL professions. Particularly, the article discusses how and why doctors and lawyers may no longer be the richest people in America. It highlights the story of an orthodontist name Mike Meru.
“Five years ago, only 14 people in the US owed $1 million or more on their federal student loans. Now, 101 people owe at least $1 million, the report says. And Meru’s situation shows that despite high salaries, becoming a doctor, dentist, or even a lawyer isn’t the path to wealth it once was.”
The article goes on to explain Meru’s how story, like so many others, led him into a path of serious student debt. It discusses the forces that have helped create this debt environment, including rising tuition costs and tremendous jump in loan interest rates.
To read the full article, and to hear about Meru’s student debt story, visit the Business Insider website here.