Student Loan Market Crunch was Big News

By Michael Dorausch, D.C.

I didn’t realize the news regarding education and the student loan crisis in the United States was as big news as it turned out to be. There was a student loan article appearing on planet chiropractic this past Thursday, and I caught a chuckle when I noticed it included with hundreds of related news articles from the day.

student loan market crunch screen cap

I was in the office seeing patients on Thursday and I noticed a familiar face when I went to check news for the day. The person in the image (shown in the screen grab) works in my chiropractic office and it was funny because I was sitting just a few feet away checking stories of the day on Google News.

We get caught up in posting chiropractic lifestyle information and I don’t think there’s been enough covered in relationship to topics like paying off your student loans. I noticed back in July of 2006 there was a single post regarding the increase in interest rates on student loans and there was only one post about student loan consolidation.

We’ve covered topics like choosing chiropractic schools, student programs, opportunities, seeing yourself as a success, and student organizations. The topic of getting one’s loans paid off deserves greater attention.

After I graduated I consolidated my student loans (but interest rates were lower in the 1990s) and then I set up an auto pay program that withdraws funds directly from my business account so that I wouldn’t have to think about writing checks each month.

I’ll talk to some other chiropractors and find out what worked for them and then share it here. It would also be good to hear from some current chiropractic and non-chiropractic college students to find out what types of rates that are paying on federal and private loans, and what kind of debt they’re coming out of school with.