This yields an after-tax net of $1,750 per month. You can rent a 2 BR apartment in Louisville for $450 per month. The $1,300 left over is enough to live quite comfortably in Louisville--heck I don't spend much more than that in New York City (the difference is I pay $1,500/month on a studio).
You're bringing in 1750 a month, but 500 of that is going to student loans. 450 goes to rent. 200 for heating in the winter. Add in the rest of your utilities, and you're looking at 1300 a month. Do you have a car? 300 a month. Do you want to eat? You can probably get by on 150 for food.
But you have no health insurance. You have no savings. You cannot start a family because you can't support a family.
And, unless you get very lucky, this is going to be your situation until your loans are paid off. You will be 35 when your adult life can actually start.
But if you're unlucky - if you get sick, if you need to take care of your family, if nearly anything bad happens, regardless of how minor, you're probably completely and utterly fucked to an extent that a lot of people can't possibly realize.
... but it makes me a little sad that the median family household in this model requires both parents to be out of the house for 40 hours per week plus lunch hour plus commute. I mean, I think the Ward&June Cleaver myth was a little silly, and I don't think it's an Inalienable Right that every single family should be able to afford indefinitely supporting 4 people on one income.... but it seems like it would be better for society if kids got more parental energy than I can imagine them getting in this circumstance.
I mean, I'm not complaining about my job (ha, not at all), but I note that I'm barely a functional spouse when I get home after work, much less able to be a great father (not that I have kids). And even if I was, I'm not getting home until 7 or 8. Suppose my wife had the same schedule, what kind of (hypothetical) parents would we be?
I'm not saying it's Wrong or Unjust. I'm just saying it seems a little sad.
As for what kind of parents you'd be not getting home till 7-8... parents like my wife and I? The baby isn't old enough yet to really recognize either of us as anything more than a milk source, but when she gets older that will be her reality. I honestly don't think it's a big deal--my dad never got home till 8 each night, and traveled extensively and work the whole weekend, etc, and my brother and I have a great relationship with him. A lot of the "putting in face time" when it comes to kids is more for the parents than for the kids. Kids are perfectly happy playing with their friends at school/having the nanny take them around so long as they know that you're there and see you everyday.