College and Med school

[Dr.Optic]

Advertisement - Members don't see this ad

Okay so I want some insight from people. Mostly people who have been there done that, but please feel free to chip in with your thoughts. Anyway I am a junior in HS and I will be going to college soon. I don't plan on going out of state to keep things low, but I also want to go to medical/dental school. We are a middle class family and my parents haven't saved for my college. I want to go to medical school, but my question is do I have to pay off all of my college loans before I can start medical school or can I become a doctor and pay off all of the debt that I have accumulated through my education? Has anyone been down this road before please help! I am he first person in the family who wants to become a doctor (most of my relatives are small business owners) so I am seeking some advice.


Sent from my iPhone using SDN mobile

 

[Dr.Optic]

Throughout*


Sent from my iPhone using SDN mobile

 

[eteshoe]

As long as you're a student w/ federal loans, they will stay in deferment. The interest on said loans will continue to accrue though.

 

[AttemptingScholar]

My parents were paying off student loans well into their forties and we had college savings/houses/cars/vacations. Large amounts of student loans suck, but they aren't the life-ender people imagine them to be. Be smart about managing your money, but no, you just defer college loans until after med school. Banks know how people become doctors.

 

[typhoonegator]

My wife and I (both doctors) had > $500K in loans between us when we finished school thanks to private colleges and private medical schools. And then we both trained through PGY6 (her) and PGY7 (me) before we even started paying them off. We still have a nice house in Boston, two kids with nannies/daycare, and a life and stuff. Consolidate when rates are low to lock them down, and the monthly costs really aren't that exorbitant. For me, I have extensively leveraged the NIH loan repayment program (LRP, LRP Main Home Page | NIH: Division of Loan Repayment). Even without that, the student loan debt won't prevent you from getting a mortgage, buying a car, taking vacation, etc as long as you follow through on your education and have a reasonable salary for a physician.

Would it be better to have no debt? Sure, but I certainly wouldn't have been OK with my family spending that much money on my education even if they had it.

 

[Dr.Optic]

Thank you Typhoonegator. Although I don't want my parents paying off my loans for me, I heard lots of my friends whose parents are doctors and engineers will have their parents pay off everything throughout their educational path. Thank you for replying it really means a lot to me!


Sent from my iPhone using SDN mobile