Chiropractor's Wife!

Chiropractor's Wife!
Have Curves In All The Right Places?

Thursday, December 12, 2013

Student Loan Debt and Chiropractic

I know it is easy to get excited to graduate and look forward to your career in chiropractic so you can pay off your student loans in record time. My husband graduated in Fall of 2008 and the 6 month grace period was as brief as a fart. Then for over 2 years we paid aministrative fees to defer them. All the fees did not apply to our loan balance but were strictly administrative hoopla. Meanwhile, the federal loans were all on an income contingent repayment plan. Eventually, as it turns out, we ran out of money for even the admin fees and ended up just defaulting on the private side. There was nothing else we could do because nobody would work with our situation. It was always, "$2K a month or nothing" or "Yes, another $150 for us to press a button to keep you in good standing until you can pay us $2k a month".

Now, it appears we make enough money to pay the federal side a reasonable monthly installment based on our income. Yay! And you know what? We are more than happy to! My husband set it all up today and couldn't help but notice our overall total including default, fees, and interest is sitting at over a half million dollars. What a downer!!! We owe over $500,000.00 for chiropractic school. Most of which is bogus fees and interest just gifted to the lenders.

If anyone knows how to settle private student loan runaway trains please let me know so I can let others know. I kid you not, the minimum payment currently due on our private student loans is $25,000.00. Minimum payment. WHAT???

The irony is, I just landed a really good job. I did. And I am sure our student loan payment for the ICR (income contingent)federal student loans will quadruple next year as a result. It is crazy that non chiropractic income will be footing the cost of chiropractic school. The private loans can at best be settled for the price of a home?? I don't know. Gosh.
Maybe divorce would be a good option because it would force the powers at be to only focus on my husbands teaching salary and supplemental chiropractic income rather than MINE TOO!!! It is a sad day in the USA when divorce is justified in a perfectly happy marriage to avoid being robbed from as a family. Ever heard anyone divorcing for financial salvage??
Avoid chiropractic school unless you can pay cash and be supported by parents or a spouse. It isn't worth it. No student loan debt is okay. It would be if it didn't multiply due to erronious fees and unreasonable interest compounding. Sickening...

Tuesday, December 3, 2013

Parker Seminar or Bust! Bust!!

You want to know what is sad?

The price of Parker Seminar Las Vegas 2014- our sensible choice for all required things CE costs $427 for just the doctor to attend. That is if you get it early, as the price goes up in the middle of Dec! Unfortunately for my husband, the chiropractic business bank account is sitting at $395.96 and is expected to take another $100 hit from our Standard Process invoice later this week. His mal practice insurance was due again but I paid it last month (early). As usual, we are breaking even to live the Chiropractic dream!

I have been approving quite a bit of positive comments from affluent-fellow DC's all over the world lately on this blog, and their words inspire me. "Man, they are doing it, we can too!" I like their inspiration and admonishments to think out side the box to success and always welcome their urges on my blog. I also want each and every one of you to know that theirs is the minority. Why? Because the rest of us, the majority, are lazy good for nothing aspiring clinicians who don't want anything but a free ride.

Luckily, my husband has his full time teaching job! I remember the many months he only aspired to succeed in his dream profession. Casting all other possibilities asside and focusing on his practice and nothing else he devoted time, positive energy, and life to its success while I worked elsewhere to take care of our family. He might as well been molding an effigy to chiropractic and burning it up with his aspirations.

Truthfully the mobile chiropractic business isn't going as bad as I thought. I am noticing a lot of new patients who are only seen once. This is a phenomenon that even the best most expensive coaches can't curtail. Why? Because people only want an adjustment when THEY want it. Not when you tell them they need it. They like to treat chiropractic like a perk. Chiropractic adjustments to chiro friendly folk rate up there next to massages, pedicures, and getting their car detailed. It isn't happening unless they have extra expendable income and think about it.

Most of our chiropractic business has been made by family and friends. I wonder if they have him over to pity him or because they really want an adjustment? No matter the reason, nobody ever wants to pay for it. Ever. This is how it is. I am sure we will keep it going. There is nowhere to go but up!