The average cumulative loan debt for graduate students could easily amount to R100 000. If you look at a medical practitioner starting out in his or her career they also have to come up with the cash to fund equipment for a practice.

The perception of the average member of the public is that doctors sit back and rake in the bucks. At an average consultation fee of R80 a visit they are hardly on the fast track to wealth. If they start out with R200 000 debt over their heads they would have to see 35 patients per month just to cover the loan.

Wayne Borowsky a recent grad with a master's degree in chiropractics says: “The annual fees are just the start, some of the text books can cost up to R2 000 each. I was fortunate in the fact that my parents covered the costs of my tuition but many of my colleagues are really struggling under the debt burden. As a result of the many years it takes to procure a medical degree, students are often married with families, creating an even heavier financial burden.”

The longer you stay in school, the more that debt piles up. Law students and medical students have some of the highest student loan totals around. It's not unusual for them to start their professional careers R100 000 to R150 000 in the hole. And don't forget credit card debt. A typical graduate student leaves school with two credit cards and high balances.

When a graduate starts to earn a fair income they have the tendency to feel very rich and start to spend indiscriminately. They have the “I’ve-earned-this-luxury-car" attitude and yes they have, but the issue of debt has to be dealt with first.

It's easy to see how young professionals could feel paralysed by debt or get swept away with spending. Not surprisingly, experts advise people to choose a financial path somewhere in the middle. Get a handle on debt but don't let it keep you from doing the things you want to do in life. The hardest part is dealing with the debt. A good way to deal with this kind of debt is to set up a budget based on 75 to 80 percent of your net take-home pay. The remaining 20 to 25 percent should go towards debt repayment.

You really need to pay off the debt as quickly as possible, if you've got cash flow, there's no excuses. Take a good hard look at the amount of interest you'll be paying for the length of the loan. The sooner you look, the better the reality of paying. That huge interest bill may be all the incentive you need.

Adapted from bankrate.com by Iona Minton