Advice for PhD getting MD

[mendel121]

I'vee seen a couple others write about my situation, but I'd like to see what input you all have on my particular concern. I have a PhD (12/04) in Epidemiology not traditional epi, but more a molecular genetics epi involving gene mapping - that said I am continuing on to medical school in the fall. I know that I want to go to med school, because I want to continue to do genetic studies, and I really don't think that life doing only research will make me very happy. My concern is money. I have a wife and 2 kids, so I'll need more money than a more typical med student to live on. I'm staring at the prospect of leaving med school with $200k+ in student loans, and I don't want to put myself in a situation where when I finally get out I won't be able to make enough money to justify that much debt.

I'm interested in blunt and honest advice, is going to med school a stupid decision for me in the long run? How have others in situations like mine dealt with the money issue?

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[xanthines]

Take my advice with a big grain of salt...

People moan and groan about student loans all the time, but I don't think they're anything to be TOO concerned about. Interest rates are low (and capped at 8% or something) and payment plans are flexible and very reasonable. You know that you want to do research and your PhD is in epi, so you have a pretty good chance of getting an NIH loan repayment plan (you do research in a particular area and they give $80K). Residency/post-doc will be tough, but I think that if you're wise with the money you'll be OK. There are loans for medical students that are pretty cool for housing; they know you'll be a doctor soon so they give you a break on the down payment and you have lower monthly bills at first, which increase over time.

It also depends on whether or not your wife will work and how old your kids are, and things like that.

-X

I'vee seen a couple others write about my situation, but I'd like to see what input you all have on my particular concern. I have a PhD (12/04) in Epidemiology not traditional epi, but more a molecular genetics epi involving gene mapping - that said I am continuing on to medical school in the fall. I know that I want to go to med school, because I want to continue to do genetic studies, and I really don't think that life doing only research will make me very happy. My concern is money. I have a wife and 2 kids, so I'll need more money than a more typical med student to live on. I'm staring at the prospect of leaving med school with $200k+ in student loans, and I don't want to put myself in a situation where when I finally get out I won't be able to make enough money to justify that much debt.

I'm interested in blunt and honest advice, is going to med school a stupid decision for me in the long run? How have others in situations like mine dealt with the money issue?