2016 looking to around 2024 have some questions for people way more knowledgeable then me

[damnedindenial]

So as it stands right now i am leaving the US military very soon. I have always been very interested in medicine particularly (love)psyciatry and dental
With that being said this is not a question about acceptance I am not afraid to do what it takes and take extreme ownership for everything I've done.
However as much of a solder I am i am a investor and business man. I have taken place and partnered with a few business startups and own some realestate I would like to keep that trend upward but I really want to go to school now that I have my gi bill for leverage on some of these crazy student loans. I'm just looking at the rising cost of medical school/(dental different forum)and it is terrifying.. I just got out of the military so I'm looking to apply at like 2021 what are your guy's idea about the cost accociated with becoming a doctor at that point. I know it is deffinatly worth it from a personal perspective but money while at lease as a psyciatrist or dentist how fast could I pay these loans off. Me and my significant other live on her income so I would have my entire income to do so for as long as it takes

Should this be a legitimate concern to me
Should it not?
I respectfully await your replys with gratitude.

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[cliquesh]

It depends on how much debt, I guess. I have no debt and I wouldn't do it again. I think the years of your life you lose is more than the monetary cost.

You'll probably make around $200k/yr as a psychiatrist. You could probably pay any debt off within 3 years if you dedicate your income to debt repayment.

 

[Wjldenver]

So as it stands right now i am leaving the US military very soon. I have always been very interested in medicine particularly (love)psyciatry and dental
With that being said this is not a question about acceptance I am not afraid to do what it takes and take extreme ownership for everything I've done.
However as much of a solder I am i am a investor and business man. I have taken place and partnered with a few business startups and own some realestate I would like to keep that trend upward but I really want to go to school now that I have my gi bill for leverage on some of these crazy student loans. I'm just looking at the rising cost of medical school/(dental different forum)and it is terrifying.. I just got out of the military so I'm looking to apply at like 2021 what are your guy's idea about the cost accociated with becoming a doctor at that point. I know it is deffinatly worth it from a personal perspective but money while at lease as a psyciatrist or dentist how fast could I pay these loans off. Me and my significant other live on her income so I would have my entire income to do so for as long as it takes

Should this be a legitimate concern to me
Should it not?
I respectfully await your replys with gratitude.

You need to do a cost/benefit analysis based upon the information you have today. Return on Investment for a MD/DDS/DO degree is extended since you need to be in school for such a long time, and with the MD/DO option, you also need to complete a relatively low paid residency as well. But based upon current government federal loan provisions, you can elect to practice in an under served area and you can receive federal loan forgiveness. Do a Google search on the NHSC to obtain more information. In addition, if you take a Federal student loan, you can elect to use IBR (income based repayment) to minimize the initial burden of loan repayment until your salary increases over time. Lastly, be a smart consumer. If you have the stats, go to your in-state medical school (MD) or Dental School since you will find the best bang for the buck there tuition wise. Alternately, if you have the stats to get into a DO program, initially look into those few DO schools which offer great tuition rates for in-state students like TCOM which is located in Texas. To summarize, just be a smart consumer in regard to school selection and loan repayment and you will have no substantial financial worries.