At Prime Rate, You Owe Us $1.1M in Interest Over 20 Yrs. Thank You.

My nephew: “I want to go to medical school.”
Me: “If you take student loans out, it will be $250K for tuition, plus the interest of $540K, totaling $790K after 10 years with a compounded interest at Prime (8%). Or you could choose 20 years and the total is $1.35M. That ticket to ride is too expensive, and it will cost you a lifetime.”

There is no way kids can pay for higher education today and expect to get ahead tomorrow. They will be in shackles for the rest of their lives. A starting salary for a medical doctor is much higher than someone starting their first job out of college, earning $35K annually. Granted doctors start their career closer to early to mid 30’s and get 6 digit. By the time they repay their medical school tuition, they are closer to 40’s and 50’s.

Luckily there is an alternative to the current economic system. Check out Alset:

https://www.yourealset.com/

Let’s shift our culture from C2B to C2C. So we can keep the intrinsic value in our communities, and the wealth gets redistributed back to our communities as well. You can’t see it, but the wealth is kept at the elite level in the C2B model. Sure the middle class may receive the trickle down effect. Systemically, the whole loses out.