This fact is a reality because 1986 marked the end of tax deductibility for certain higher education loans and revolving credit interest. There are other reasons for lower net pay. The stage has been set for a tight job market, due in no small part to a physician oversupply in certain areas of the country and a shortage in others. Credit bureaus and private lenders understand that your marketability and job security are not as stable as they were in the past. Good debt is like diabetes.
Bad debt is like cancer.
It kills slowly, to the point where a collection service moves in for the financial burial. One type of bad debt is consumer debt. It eats up 18.25 percent of disposable income for the average American. Buckle down and pay off those credit cards while you are still in training. Use your debit card at those ATM machines as little as possible, and attempt to manage a monthly or even weekly budget based on cash.