To put it
simply.. Debt Sucks.. I really didn't realize this until two
years ago after I graduated from Grad school with a degree
in Physician Assistant Studies. Following graduation, the
six month grace period on my student loans expired and I was
left to start repaying $ 136,000 for two years (six
semesters) of college. Now you are probably saying.. "well
that is what happens when you go to graduate school."
Unfortunately, prior to entering graduate school, I was a
successful accountant who already obtained a Bachelor's of
Science in Accounting at Penn State University and had less
than $2,000 worth of student loans left to pay back with an
established position in an engineering firm working 40 hours
a week.
I decided
to venture back to obtain a medical degree after my life
experience battling cystic fibrosis and going through a
double lung transplant. Shortly, after getting released from
the hospital, I decided my life was better served helping
other patients deal with their medical problems than for me
to sit behind a desk collecting dust. After making my
decision, I applied at a local community college to retake
science courses in which I did not have to take while
pursuing my Accounting degree. After 2 1/2 years of
re-taking classes, I was accepted at a College in
Pittsburgh, Pennsylvania, where I started down the path of
success in medicine. In August 2007, I graduated from
Chatham and in September, was hired as a physician assistant
in Transplant Medicine....more to follow...
Venturing
forward.. you're probably wondering why I decided to go from
being a successful accountant with no debt into the field of
medicine.. I have cystic fibrosis and had to undergo a
double lung transplant. After my transplant, I figured I
could help other patient's who are going similar problems.
After I graduated with my Master's degree. little did
I know that the total cost of the education and salary did
not correlate very well. Trying to manage rent, a car
payment, student debt, and credit card payments on roughly $
75,000 a year is not easy. The only form of entertainment I
enjoy .. ice hockey.. adds to the debt as well. I had
decided to buy season tickets to the Pittsburgh Penguins a
few years ago.. Front row seats... so close you can touch
the puck or the opposing coach.. you just can beat that.
Other that the hockey tickets, I really don't care to spend
cash on other things. I'm not into possessions....
Now back to
the debt situation... As of now I have $ 134,950 in
student loans, $ 34,000 roughly in credit card debt, and $
7,250 left on my car loan.. Rent is roughly $ 985 per month.
Buying a house at this moment is out of the question. So,
what are my options... As I often ponder.. {why did I change
careers?} sometimes dreams of different careers or
visions of happiness are often skewed by the reality of
other factors.. including debt. more to
follow...
Well.. the
weekend is here at last and its time to take a break from
work, watch a little college football and hockey and work on
some websites. As far as the debt, I did manage to do a
balance transfer from one of my credit card to another with
a low promotion 1.99% rate through July 2011. I will
then close the other credit card and just make a large
payment an not having to worry about a fourth credit card
payment a month.
May 9, 2011:
Needless to say, things are not going too well with the debt
situation. I did put a slight dent in the student loans
narrowing the sum to $ 131,900; however, the credit card
situation turned ugly with me missing one payment and the
interest rate obviously got jacked up. The job sucks putting
in 50 to 55 hours a week and getting paid as a salaried
employee. Sigh... I believe it's time to reorganize
and focus on consolidation of my debt to one large balance
and get rid of the other credit card interest which is
accumulating at an astronomical rate.
My other
objective is to work on advertising for my websites and do a
little web promotion and recruit some more link
reciprocations and throw some debt tools on this site.
Please be patience as I am trying to make this site more
appealing. If you have any feedback on what you would
like to see, please just email me.
