Category: Finances

I’m in 250k worth of debt and I’m seriously considering going back to school

So I recently stumbled across a new career prospect that I’m extremely interested in . It’s in the medical field and I’d be making upwards of 150-200k right after graduating from the 2.5 years of schooling. The only issue I’m having is that I’m already in over 240k worth of high interest student loan debt . I currently make 70k working 2 jobs and I know my salary will increase but it’ll probably take another 7-10 years before even reaching $150k .

Is it worth applying for the program? It’s a very rigorous program and I can’t possibly work through it. I’m also on only 1 income at the moment so I’ll be responsible for covering living expenses for my self and my mother who lives with me.

This job will give me such a good quality of life after , but I’ll like come out owing $400k since interest on my current loans will keep accruing while in college.

1. $120,000 to $190,000 at a high volume Toyota store before moving to BMW and making around $130,000.
2. $55,000 in the first year at Toyota, $70,000 in the second year after moving to Lexus, $105,000 in the third year at the same Lexus store.

1. $50/hour as a research nurse in Baltimore PRN.
2. $93/hr Nicu 20 years experience Bay Area, Ca. Night diff $13/hr.
3. $80/hr, no beneifts/PTO, 3 years experience, Internal agency ICU in Georgia

There is a common misconception among many people about how tax brackets and marginal tax rates function within the United States tax system.

This misunderstanding often leads to confusion and anxiety, particularly when individuals receive pay raises or bonuses that push them into a higher tax bracket.

The fear is that by moving into a higher bracket, they will lose money due to being taxed at a higher rate on their entire income. However, this is not how the tax system works.