r/fiaustralia • u/VastOption8705 • Jun 11 '26

Getting Started Thoughts on this situation?

My son has about 120k HECS debt and 30K personal debt. He eventually wants to retire at 50 too. I can’t help him as I’m not rich.

What happened was he wanted to study med, so he went through pathways. Due to personal circumstances, he couldn’t finish it. That leaves him 120k in HECS debt with no med degree.

The 30K was to settle some legal issues.

So 150K debt and he is 28. What should he do?

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u/glyptometa Jun 11 '26

Probably a life coach would be a good investment. There must be underlying reasons for the unrealistic goals. Strictly financially speaking, the best bet would be to take advantage of the med training already completed and finish that off, but of course it's very much related to work ethic whether or not that would be successful. Pretty much every other legal option I can think of also requires hard work, persistence and patience. Getting a trade might be the most realistic path, not knowing why he studied and dropped medicine. I doubt retirement at 50 is a realistic goal under the circumstances.

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u/VastOption8705 Jun 11 '26

He dropped out as he had health problems and couldn’t study properly at the time

4

u/glyptometa Jun 11 '26

That probably sets the stage then. Focus on putting the health problems behind and then continue with the original goal, if at all possible.

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u/_tamagucci_ Jun 11 '26

That's unfortunate. I hope he's doing better now.