Med School Tuition is Insane

[BLADEMDA]

The figures are posted for each specialty are estimates. Going forward Primary Care like FP will not get cut while all the others may get the Obama/Sebelius trashing. Factor in a 30-40% cut in those numbers over the next ten years for most specialties and develop a budget that works on that amount of money.

Also assume Obama wins re-election so Sebelius isn't going anywhere anytime soon.

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Members don't see this ad.

 

[yappy]

Just checked - not up anymore. It didn't seem to have a catch; though, they did require experience as they wanted to person to be able to hit the ground running. It was on "physicianrecruiting" when I ran a search for radiology and midwest region.

Care to share which website? I'm sure there's a catch.

Student loans are no joke. I'm going into dentistry via the Army and hope to get an OMFS residency. I think students now a days must think differently about the whole process. This is not our fathers day in medicine or dentistry. The truth is no one has had to endure these student loan amounts. I dont want to be the first one to try it out either. The idea of lower compensation in the future compounds the situation even more. I wish I had been born in the 1950's!

 

[BLADEMDA]

1. University of Southern California School of Dentistry (USC Dental)
Tuition: $61,953
Fees: $2,253
Equipment: $8,593
Room & board: $17,532
Personal/misc: $2,436
Transportation: $2,700
GRAND TOTAL: $95,467

2. New York University College of Dentistry (NYU Dental)
Tuition: $52,510
Fees, books, instruments: $9,884
Estimated living expenses, room & board, personal, transportation: $31,351
GRAND TOTAL: $93,745

3. University of Pennsylvania, School of Dental Medicine (UPenn)
Tuition: $53,990
General fee: $2,000
Room & board: $13,965
Books, supplies: $1,050
Misc: $4,725
Instruments: $6,496
Technology fee: $536
Clinical apparel: $166
GRAND TOTAL: $82,928

4. Boston University Goldman School of Dental Medicine (BU Dental)
Tuition: $51,990
Fees, instruments: $6,525
Insurance: $2,118
Estimated room & board: $15,435
Books, supplies: $1,975
Personal: $3,987
Transportation: $1,339
GRAND TOTAL: $83,369

5. Tufts University School of Dental Medicine (Tufts Dental)
Tuition: $48,300
Dental kit: $3,200
Fees, charges, supplies: $4,741
Health insurance: $2,940
Books, supplies: $2,250
Living expenses estimated: $18,000
GRAND TOTAL: $79,431

 

[BLADEMDA]

So Private Dental Schools are $80-$95K per year. I never imagined in my wildest dreams 20 years ago that Dental School could cost $100K per year.

 

[BLADEMDA]

Cost of Attendance UNIVERSITY OF FLORIDA

Four-Year D.M.D. Program

Tuition and Fees 2011-2012 Yearly Florida

$35,570 residents


$62,052 Non-residents

 

[pgg]

1. University of Southern California School of Dentistry (USC Dental)
Tuition: $61,953

USC has always been outrageous. I remember applying there in the late 90s (but for their medical school) and tuition was already something like $40K/year. I think it was the most expensive school I applied to. Ended up cancelling my interview after I was accepted elsewhere, in part because it was so expensive.

 

[BLADEMDA]

USC has always been outrageous. I remember applying there in the late 90s (but for their medical school) and tuition was already something like $40K/year. I think it was the most expensive school I applied to. Ended up cancelling my interview after I was accepted elsewhere, in part because it was so expensive.

LATEST FIGURES FOR USC DENTAL SCHOOL:


$114,010 For year 1 (Total)




Cost of Attendance

Doctor of Dental Surgery (DDS) Program

Cost of Attendance $114,010, $108,503 $105,645, $73,245 ASDA = American Student Dental Association
CDA = California Dental Association

 

[yappy]

On the other hand my state dental school comes to ~150k over four years. The texas schools are also a good deal. In dentistry it's pretty much state school, military, national health or live on the cheap for a long time. I dont know how anyone can survive USC prices.

LATEST FIGURES FOR USC DENTAL SCHOOL:


$114,010 For year 1 (Total)




Cost of Attendance

Doctor of Dental Surgery (DDS) Program

Cost of Attendance $114,010, $108,503 $105,645, $73,245 ASDA = American Student Dental Association
CDA = California Dental Association

 

[Silent Cool]

Blade,

Check out the one-year expenses for becoming an orthodontist at Penn--that's right, dentists have to pay TUITION for many of their residency programs!! Insane!

http://www.dental.upenn.edu/academi...ams/orthodontic_residency_program/annual_fees

Orthodontic Residency » Annual Fees
2011-2012 Orthodontics Educational Expenses
Annual Fee $67,330
General Fee 2,318
Technology Fee 609
Room and Board 17,089
Books and Supplies 1,081
Miscellaneous 5,191
Instruments 6,364
Clinical Apparel Fee 500
Total $100,482*

 

[BLADEMDA]

2 year Oral Medicine Residency at Penn:


Oral Medicine Residency » Annual Fees

Program Annual Fees

Graduates of a U.S. or Canadian dental school are eligible to receive an annual stipend of $48,000 through the Office of Graduate Medical Education.
Graduates of a non-U.S. or Canadian dental school who are either U.S. citizens or permanent residents may be eligible for funding through the Geriatric Interdisciplinary Fellowship (GIF). This program runs concurrently with the oral medicine residency. For more information, please visit GIF.
Applicants that do not satisfy any of the above criteria are not eligible for a stipend and are required to pay annual tuition if they are selected for the residency program. For the latest information on tuition, please contact the Graduate Dental Education Admissions Office at 215-898-5792 or by email.
In addition, all students should be aware of additional general fees. For the latest information on these, please contact the Graduate Dental Education Admissions Office at 215-898-5792 or by email.

 

[BLADEMDA]

Senior citizens owe billions in student loans

By TODAY.com staff
When you think of student loans, you think of students and recent graduates -- younger people in their 20s and 30s working to pay off the thousands of dollars in debt from undergraduate and graduate schools.
It's a good bet you don't think of people in their 60s, 70s and even 80s struggling to [pay off student debt. But new research shows that Americans 60 and older owe $36 billion in educational debt and account for 5 percent of delinquent student loans.
In some cases, the debt was incurred when adults went back to school later in life. In other cases the debt resulted from co-signed loans taken out by children.
Washington Post reporter Ylan Q. Mui, wrote about the research in The Washington Post and appeared on CNBC to discuss the trend:
According to a report by the Federal Reserve Bank of New York, of the $85 billion in past due student loans, nearly 20 percent was owed by people 50 and older. With Ylan Mui of The Washington Post.

 

[periopdoc]

60 and still not out of student loan debt, seniors facing 36 billion in college loans.

Americans ages 60 and over collectively owe $36 billion in student loans.

- pod

 

[medicinesux]

Such old news....I called this overpriced turd out almost 3 years ago!

http://medicinesux.wordpress.com/2009/10/10/241/

[YOUTUBE]wrFhYBAFt34[/YOUTUBE]

 

[BLADEMDA]

Such old news....I called this overpriced turd out almost 3 years ago!

http://medicinesux.wordpress.com/2009/10/10/241/

[YOUTUBE]wrFhYBAFt34[/YOUTUBE]

Yes. I came across your work on You Tube. You spurred me to start this thread. I saw your video about Tufts and that's when I knew things are out of control.

 

[dhb]

Ha this is rich! borrowing at < than 1% from the fed and selling loans at 7+% i want to do that for a living

 

[kazuma]

Do parents pay any portion of these costs any longer? Are the parents too broke from college costs to help out with medical school?

Average debt of $156,000 and climbing every year is nothing to sneeze at. The interest alone on this debt is staggering over 4-5 year residency.

My dad pulls in a decent income, but there's no way he could have afforded to pay my tuition, although he did help me out with my in-state undergrad tuition ($1500/semester) so luckily I didn't have any undergrad loans.

One of the main reasons I went to a D.O. school was because it was >$100K cheaper than a the private US M.D. school that I could have gone to. I still graduated with $240K which is now at $278K with interest.

The current conditions are ripe for the takeover of primary care by non-MDs. I mean, what student in his right mind would choose family medicine as a career given those numbers? Doing primary care is just not worth it - end of story.

My internship colleagues don't believe me, perhaps they will understand when they attempt to pay back their 250-325K loans on their 130-180K salaries.

 

[BLADEMDA]

My dad pulls in a decent income, but there's no way he could have afforded to pay my tuition, although he did help me out with my in-state undergrad tuition ($1500/semester) so luckily I didn't have any undergrad loans.

One of the main reasons I went to a D.O. school was because it was >$100K cheaper than a the private US M.D. school that I could have gone to. I still graduated with $240K which is now at $278K with interest.



My internship colleagues don't believe me, perhaps they will understand when they attempt to pay back their 250-325K loans on their 130-180K salaries.

I'm shocked your dad didn't cough up at least half that amount. Truly shocked. I'd rather work an extra year or two than leave my kid saddled with that debt in a Socialized Medical system (circa 2022).

 

[link2swim06]

I paid ~100 K for my first year (75K out of state tution + living expenses).

Thankfully I am now at the "in-state" rate of only 31K per year.

I am kinda of at a loss where all the money goes. Our professors surely dont make that much money...

 

[pgg]

Consider this, most .mil physicians I've come across are not single. Don't let this stop you. If anything, barring deployment on a ship or to the sandbox for a year or less, you'll have ample time with them compared to docs in the private sector.

This really depends on where you are and what you're doing.

GMOs during deployment workups spend a lot of time away from home. That 7 months "in theater" deployment usually works out to 9 months "away from home" ...

At small commands, when someone ELSE gets deployed, the amount of work to do doesn't change.

 

[pd4emergence]

I am amazed at the numbers here. I looked at my state's public med school, 11k for in state, 33k for out of state. Not too bad compared to what I am seeing here. When I went I think I borrowed around 20k per year for both tuition and expenses (10yrs ago or so). I think for the pre med students here, my advice is to look at your instate schools first and be mindful of what your tuition is going to be. Your debt at the end of all this really does matter.

 

[Bill59]

Yup. The situation even worse for pharmacy. Their school costs is on the same magnitude, but their earning potential is far less than that of physicians and dentists.

Veterinarian:
In state: $10k/year tuition
Out of state: $40k/yr (many states don't have a vet school)
Private: god help you

Mean debt of those with debt: $150K (90% have debt)

Best of all
Mean starting salary:$66K; $45K if you inlcude those that do internship/residency

On the plus side: no Obamacare

 

[Postictal Raiden]

I am amazed at the numbers here. I looked at my state's public med school, 11k for in state, 33k for out of state. Not too bad compared to what I am seeing here. When I went I think I borrowed around 20k per year for both tuition and expenses (10yrs ago or so). I think for the pre med students here, my advice is to look at your instate schools first and be mindful of what your tuition is going to be. Your debt at the end of all this really does matter.

My guess is that you live in TX

I live in CA and all of public schools cost 30K+/year to attend. That's only tuition. Add to that another 20-30K of living costs, that's 50-60K/year in debts.

Very few are fortunate to reside in states where public school tuition has remained reasonable. The rest of us are ****ed.

 

[pd4emergence]

My guess is that you live in TX

I live in CA and all of public schools cost 30K+/year to attend. That's only tuition. Add to that another 20-30K of living costs, that's 50-60K/year in debts.

Very few are fortunate to reside in states where public school tuition has remained reasonable. The rest of us are ****ed.

Apply out of state where the out of states rates are the same as your current instate rates. I think after a year you would qualify for the instate rate because you should then be a state resident. 200k of debt is not insurmountable but you could come out with 100k less by looking at other places.

 

[link2swim06]

Apply out of state where the out of states rates are the same as your current instate rates. I think after a year you would qualify for the instate rate because you should then be a state resident. 200k of debt is not insurmountable but you could come out with 100k less by looking at other places.

Most out of state rates are going to between 40K-80K for tuition alone.

In the future the school I go to (and many others) will not let you convert to instate. Which means for tuition alone you will pay 80K X years + interest (nothing is subsidized anymore).

Which means people in classes behind me will be averaging 300K debt + undergrad debt.

I think 400K debt will not be impossible for many med students a few years behind me.

I will end up with ~200K of debt, which I am not happy about...but it could be worse...

 

[Per4mer8]

Some states absolutely restrict becoming a "resident" of the state if you are a full time student. The only way around it in these cases is to move there a full year prior to starting school and paying atleast one year of taxes in the state.

 

[MTGas2B]

Some states absolutely restrict becoming a "resident" of the state if you are a full time student. The only way around it in these cases is to move there a full year prior to starting school and paying atleast one year of taxes in the state.

Some states have two definitions of residency. One for taxation, one for tuition. You can be a resident, work and pay taxes, but not qualify for in state tuition at state schools. Montana, my homeland, had this. You had to work in state for one year, not be someone's dependent, and take less than 6 credits per semester, and after one year of this you would be considered a resident for tuition purposes. Meanwhile the state and counties would be on you for vehicle registrations and drivers licensing and you'll be paying income tax since you would legally become a resident for taxation.

 

[nycitygas]

My dad pulls in a decent income, but there's no way he could have afforded to pay my tuition, although he did help me out with my in-state undergrad tuition ($1500/semester) so luckily I didn't have any undergrad loans.

One of the main reasons I went to a D.O. school was because it was >$100K cheaper than a the private US M.D. school that I could have gone to. I still graduated with $240K which is now at $278K with interest.



My internship colleagues don't believe me, perhaps they will understand when they attempt to pay back their 250-325K loans on their 130-180K salaries.

Good call on looking for the lowest debt. A few weeks ago, I had a SGU student tell me he went to SGU @ full cost on loans rather than an cheap instate DO school because he wanted the "M.D".

I'm pretty sure these loans are also private.

 

[nycitygas]

1. University of Southern California School of Dentistry (USC Dental)
Tuition: $61,953
Fees: $2,253
Equipment: $8,593
Room & board: $17,532
Personal/misc: $2,436
Transportation: $2,700
GRAND TOTAL: $95,467

2. New York University College of Dentistry (NYU Dental)
Tuition: $52,510
Fees, books, instruments: $9,884
Estimated living expenses, room & board, personal, transportation: $31,351
GRAND TOTAL: $93,745

3. University of Pennsylvania, School of Dental Medicine (UPenn)
Tuition: $53,990
General fee: $2,000
Room & board: $13,965
Books, supplies: $1,050
Misc: $4,725
Instruments: $6,496
Technology fee: $536
Clinical apparel: $166
GRAND TOTAL: $82,928

4. Boston University Goldman School of Dental Medicine (BU Dental)
Tuition: $51,990
Fees, instruments: $6,525
Insurance: $2,118
Estimated room & board: $15,435
Books, supplies: $1,975
Personal: $3,987
Transportation: $1,339
GRAND TOTAL: $83,369

5. Tufts University School of Dental Medicine (Tufts Dental)
Tuition: $48,300
Dental kit: $3,200
Fees, charges, supplies: $4,741
Health insurance: $2,940
Books, supplies: $2,250
Living expenses estimated: $18,000
GRAND TOTAL: $79,431

My wife went to one of the aforementioned schools. At her school, it seemed that many of them were in the Army/Navy/Air force and had full rides, had huge scholarships, or their parents paid their way. I don't think she knows one person there who is paying the full price on loans, which is often the case in medical school (or at least was at my private med school).

I know a girl from med school who had full loans from her private UG, full loans including living expenses (and she lived well) in medical school who matched in pediatrics at some community hospital in. Financial suicide

From a financial standpoint, dentistry >> medicine. They can refuse patients who are unable to pay and we cannot.

 

[Rotors]

Yeah I feel really sorry for you guys in US; medical school here is dirt cheap at about NZD75,000 +/- a little and our sixth year (Trainee Intern) we get a tax-free grant of about NZD30,000 plus we can get universal student loan from Government to cover the tuition which we do not pay back until we graduate and start working (i.e. earning over NZD19,000 p.a.)

 

[nycitygas]

Yeah I feel really sorry for you guys in US; medical school here is dirt cheap at about NZD75,000 +/- a little and our sixth year (Trainee Intern) we get a tax-free grant of about NZD30,000 plus we can get universal student loan from Government to cover the tuition which we do not pay back until we graduate and start working (i.e. earning over NZD19,000 p.a.)

How is physician reimbursement in NZ? Lots of jobs out there?
Must be nice to live in paradise..

 

[Rotors]

How is physician reimbursement in NZ? Lots of jobs out there?
Must be nice to live in paradise..

We do not "reimburse" per-se because Physicians do not charge remember we have universal healthcare so they are are paid a salary like any other employee is.

A Consultant ("Attending") who does not practice privately on-the-side can expect to make over $100,000 a year If you practice privately on-the-side you can reasonably expect to make up to double that esp if you do some locum work.

Paradise? No, we have shortage of specialists cos as a small country (pop 4.5m) our tax base is not as extensive as other comparable nations with universal healthcare (e.g. Medicare in Australia or NHS in UK) we do not have the resources to pay what can be offered elsewhere in the world and retain free access to the health system for everybody.

I'm going to spend a few years in US for sure; I know many Physicians who make up to and over a half million dollars a year. It is wrong I think that such a system allows that by charging so much for health care but I can put that out of my mind when I'm Captaining my private mega yacht

 

[I4GOTMYWATCHINU]

I usually love coming into the anesthesia forum as it is has some of the most active members and topic breadth, but this thread really has me down. Just crunching the numbers it looks like I will graduate with anywhere from $280,000-$320,000(includes undergrad) of debt and I just can't comprehend it. How is a student, or anyone for that matter, supposed to focus on anything with that kind of sword hanging over their head?

I find myself in a position where I know I want to be in medicine (or else I wouldn't have gone through the process to begin with) and yet at the same time I doubt my masochistic resolve. Not to be over dramatic but it seems like my options in regards to dealing with the debt will be limited to becoming a Manhattan neurosurgeon, a lifetime debt slave, military rag doll(because GMO's), or suicide to escape the debt. Just kidding on the last one, but damn I'm stating to really question what kind of hornet's nest I stuck my hand into, especially knowing full well that I am consciously entering a field where the next few years will be bumpy to say the least.

 

[asmith1121]

At my exit interview, we were told you get loan forgiveness after 120 payments if you work at a not for profit hospital, which is almost all teaching hospitals and all hospitals in some states. If you start paying back during residency...the most you have to pay back is $500/month, based on your salary. Since you have no prior income as an intern, you pay very little the first year, and then pay only half your second year since your income tax will be based off of half a years salary. Residency + fellowship you really pay at a discounted rate. So only 5 years of real payments.

 

[JRG]

At my exit interview, we were told you get loan forgiveness after 120 payments if you work at a not for profit hospital, which is almost all teaching hospitals and all hospitals in some states . If you start paying back during residency...the most you have to pay back is $500/month, based on your salary. Since you have no prior income as an intern, you pay very little the first year, and then pay only half your second year since your income tax will be based off of half a years salary. Residency + fellowship you really pay at a discounted rate. So only 5 years of real payments.

Honestly I think that is a great program but I wouldn't get my hopes up that it will help. The government isn't contractually obligated to follow through with this so anytime this program could just be put on the chopping block, leaving those individuals who are only a year or two away with an even higher mountain of debt since interest has been accruing. I'm not saying this will happen I just think it is possible, especially when the first payments have to start going out in a few years and the government sees how much money it's costing them.

 

[Per4mer8]

At my exit interview, we were told you get loan forgiveness after 120 payments if you work at a not for profit hospital, which is almost all teaching hospitals and all hospitals in some states. If you start paying back during residency...the most you have to pay back is $500/month, based on your salary. Since you have no prior income as an intern, you pay very little the first year, and then pay only half your second year since your income tax will be based off of half a years salary. Residency + fellowship you really pay at a discounted rate. So only 5 years of real payments.

However, working AT a non-profit hospital isnt necessarily the same thing as working FOR a non-profit hospital..... Esp in a field like Anesthesia where you are oftentimes a contractor.

 

[MTGas2B]

At my exit interview, we were told you get loan forgiveness after 120 payments if you work at a not for profit hospital, which is almost all teaching hospitals and all hospitals in some states. If you start paying back during residency...the most you have to pay back is $500/month, based on your salary. Since you have no prior income as an intern, you pay very little the first year, and then pay only half your second year since your income tax will be based off of half a years salary. Residency + fellowship you really pay at a discounted rate. So only 5 years of real payments.

http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp

More info on the program.

I've given this some thought since I would only need three more years of qualified time to get the rest of mine forgiven after I finish my .mil time. Although my loans are pretty small since I went the .mil route.

 

[BLADEMDA]

However, working AT a non-profit hospital isnt necessarily the same thing as working FOR a non-profit hospital..... Esp in a field like Anesthesia where you are oftentimes a contractor.

You guys got it all wrong. SEVOFLURANE IS THE MODEL TO FOLLOW. Truly, I have never heard of any Anesthesiologist paying off that much debt in 12 months. He should get an award from Obama.

If you want the socialistic model where the govt. pays off your debt then join an academic dept. Do a fellowship and then get a job at DA U. Good benefits and Obama will forgive your loans (or so you think).

 

[BLADEMDA]

http://www.finaid.org/calculators/scripts/ibr.cgi#help12

Run your numbers. Start paying as a Resident based on income. Then academic attending for 5 years. How much does Uncle Sam eat for you?

 

[BLADEMDA]

On March 23, 2010, President Obama signed the Affordable Care Act (ACA, P.L. 111-148 and P.L. 111-152), which includes student loan legislative recommendations from the president's FY 2011 budget request. The Higher Education Opportunity Act of 2008 (HEOA, P.L. 110-315) and the College Cost Reduction and Access Act of 2007 (CCRAA, P.L. 110-84), represent the first comprehensive Higher Education Act (HEA) reauthorization since 1998. Among other changes, these laws created a new student loan repayment system and eliminated the Economic Hardship Deferment. Forbearance is not affected by these laws.

 

[BLADEMDA]

On March 23, 2010, President Obama signed the Affordable Care Act (ACA, P.L. 111-148 and P.L. 111-152), which includes student loan legislative recommendations from the president’s FY 2011 budget request. The Higher Education Opportunity Act of 2008 (HEOA, P.L. 110-315) and the College Cost Reduction and Access Act of 2007 (CCRAA, P.L. 110-84), represent the first comprehensive Higher Education Act (HEA) reauthorization since 1998. Among other changes, these laws created a new student loan repayment system and eliminated the Economic Hardship Deferment. Forbearance is not affected by these laws.

So, if SCOTUS overturns ObamaCare does your repayment go up to 15% of income per year?

 

[sevoflurane]

.

 

[DrRobert]

I mentioned this in another thread...

If I was thinking about going to medical school today, my decision would be based solely on financial probabilities.

In my opinion, if you don't have an outside income source (spouse, parents, side business, etc) then you should not go to medical school if you plan on borrowing more than $250k. My reasoning includes:

- Student loan interest rates are outrageous
- You cannot default on your loans unless you die
- Reimbursements are going to be slashed across the board, no matter what
- Meaningful tort reform is a pipe dream and lawsuits will only get worse
- Taxes will increase, they have to, this country will become the next Greece if we don't increase tax revenue

In short, you will be earning little, paying a bigger percentage in taxes, all while struggling to pay back massive loans with high interest rates. And did I mention lawsuits?

This is a recipe for disaster.

Unfortunately I don't have a viable alternative to offer. Some days I seriously think I would be better off saying fock it... eating myself into super fatty status... going on medicaid/disability for anxiety/depression/fibromyalgia/I can't walk because I'm huge... getting a scooter from medicaid... getting an iPhone... smoking and drinking all day while watching TV... and then going to the ER 3 times/week for non-emergency care.

I'm only half kidding.

 

[minkshag]

Some days I seriously think I would be better off saying fock it... eating myself into super fatty status... going on medicaid/disability for anxiety/depression/fibromyalgia/I can't walk because I'm huge... getting a scooter from medicaid... getting an iPhone... smoking and drinking all day while watching TV... and then going to the ER 3 times/week for non-emergency care.

This is absolutely amazing... and definitely a viable option if medicine doesn't pan out.

 

[BLADEMDA]

Originally Posted by DrRobert
Some days I seriously think I would be better off saying fock it... eating myself into super fatty status... going on medicaid/disability for anxiety/depression/fibromyalgia/I can't walk because I'm huge... getting a scooter from medicaid... getting an iPhone... smoking and drinking all day while watching TV... and then going to the ER 3 times/week for non-emergency care.



Awesome. A True Obama supporter. Why work when the govt. will pay all your bills.

 

[sevoflurane]

Here is a condened version of my deleted post from yesterday. Hope it helps.

Paying off $275k is def. possible.

1. Get into a good group and bring something to the table (in my case I brought regional and cardiac services). Good group = fair, good payor mix or subsidy, wide variety of cases and nobody sitting at around not working= too many FTE's/overstaffed. We run a pretty lean ship. I do work post-call, but I increase my take home pay substantially. This extra work can easily help you get to the top tier MGMA wages.
2. Full financial Partner from day NUMBER # 1- this is key.
3. Live in BFE. High pay, low cost of living.
4. Work your arse off while you are young.

Later, you can move out of BFE debt free and with piece of mind. It's a great strategy that has worked for me. The weight has been lifted off my shoulders.

Anesthesia still rocks and is a great specialty to pursue after medical school.

Good luck to the med studs and residents.

 

[dhb]

Later, you can move out of BFE debt free and with piece of mind. It’s a great strategy that has worked for me. The weight has been lifted off my shoulders.

What was the interest on your loans? anything under 4.5% i wouldn't rush to repay although it's nice of course get rid of the damn thing.

 

[MTGas2B]

My interest: 2.65%

Ah the good old days.

 

[JRG]

My interest: 2.65%

Ah the good old days.

I knew interest rates were lower but not 2.65% low!

So not only do we get rap*ed on tuition these days but then the gov has us bend over and take these high interest rates/unsubsidized loans.


I love sevoflurane's idea and payment strategy and I commend him for being that financially savvy. Since I plan to graduate with ~300K in loans, it's something I plan on doing too. The only thing I worry about it is when I get out of residency in ~2020 things might not look the same as they do now. i.e. a single payer has taken over and reimbursements drop. I guess I can only hope for the best and prepare for the worst.

 

[MTGas2B]

I knew interest rates were lower but not 2.65% low!

So not only do we get rap*ed on tuition these days but then the gov has us bend over and take these high interest rates/unsubsidized loans.


I love sevoflurane's idea and payment strategy and I commend him for being that financially savvy. Since I plan to graduate with ~300K in loans, it's something I plan on doing too. The only thing I worry about it is when I get out of residency in ~2020 things might not look the same as they do now. i.e. a single payer has taken over and reimbursements drop. I guess I can only hope for the best and prepare for the worst.

I had 8 straight years of direct loans. Year one the rate was 3. something. The next 7 years it was 2.5%. Consolidated everything and locked in nice and low.

 

[yappy]

This is what I dont get. Loans today are dirt cheap. You can get a mortage for 3.XX. Though, my student loans are at 7.X -8.X percent. State budgets have also been cutting back on state school contibutions and students make up the difference.

I could go on and on - but it just makes me angry. I think alot of this is a generation issue - the baby boomers will not likely feel much of this or understand. They had it so freaking easy.

I had 8 straight years of direct loans. Year one the rate was 3. something. The next 7 years it was 2.5%. Consolidated everything and locked in nice and low.