Debt from medical school

[Plankton]

Is all of the debt acquired in medical school from the first four years? I understand that you begin earning a small salary beginning in internship but are the first four years the only ones that you have to actively pay for?

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[armybound]

yes

unless you can't figure out how to live on an intern/resident salary.

 

[QuantumMechanic]

Is all of the debt acquired in medical school from the first four years? I understand that you begin earning a small salary beginning in internship but are the first four years the only ones that you have to actively pay for?

well med school only lasts for 4 years unless you get the crazies and decide you need a PhD, JD, MBA, etc...so yeah.

 

[MonkeyNuts!]

yes.

 

[Doctor Bagel]

well med school only lasts for 4 years unless you get the crazies and decide you need a PhD, JD, MBA, etc...so yeah.

Or you fail too many classes. Honestly, the part that would suck the most about that is paying for it.

 

[postbacker]

Some people incur additional debt during residencies and fellowships, particularly if they are attending programs in an expensive city where the resident's pay cannot support them...think NYC, etc...

 

[QuantumMechanic]

Some people incur additional debt during residencies and fellowships, particularly if they are attending programs in an expensive city where the resident's pay cannot support them...think NYC, etc...

wouldn't such additional debt be marginal compared to tuition and living expenses from med school years? (assuming the resident has no family to support on his/her own). although its very difficult to live in NYC off of 40k/yr, I know people who are living there with equal levels of income with jobs that allow for much more free time (= time to waste your money).

 

[postbacker]

wouldn't such additional debt be marginal compared to tuition and living expenses from med school years? (assuming the resident has no family to support on his/her own). although its very difficult to live in NYC off of 40k/yr, I know people who are living there with equal levels of income with jobs that allow for much more free time (= time to waste your money).

It may be marginal debt, but it is debt nonetheless going on the pile...may actually serve a very useful purpose if it serves to defer the start of repayment (or is that automatically deferred until the new doc finishes all residencies and fellowships anyway?). The answer to this is well beyond the scope of what I know...

 

[diosa428]

Don't forget about the interest you'll be accumulating until your debt is payed off.

 

[smq123]

well med school only lasts for 4 years unless you get the crazies and decide you need a PhD, JD, MBA, etc...so yeah.

True, the PhD will push 4 years of med school into 7-8 years.

But the MD/PhDs are the lucky ones. If you're in an MSTP program, tuition is paid for by the school.

But yeah - the JD/MBA/MPH people are out of luck.

 

[carina nebula]

ahhhhh i do the only sane thing: i just don't think about the debt