Does anyone know of any loan repayment programs that they are part of and can share more info about?

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
D

deleted1020355

I know that medical students and some non-stipended grad students hate their student loans and the reality of debt.
For me, I'm scared of debt because it's reinforcing how I've been a marionette to people other than myself my whole life. I'm a Russian Jew whose parents helicoptered me. I don't have a car (a major determinant of my worth and status) and I never had disposable income (I was mandated to just study). I'm 21 and can't freely go places as my parents have the cars during the day. How humiliating at my age! To think I'd be continuing this way into my mid-20's??? For me, the HPSP scholarship is a chance to finally gain liberty for myself- a stipend!, A wage as an officer!, No med school debt!! I tear up imagining what my life could be if I get the scholarship. I would have a chance to finally have a lease on my own life. To help the lives of veterans and active duty is another passion of mine that entices me to work as a doctor in the armed forces.

The issue is the medical requirements to join the military (I'm interested in Air Force). I successfully recovered from an acute OCD episode one year ago. One year ago, I was placed on a high dose of Zoloft and began therapy. I took Zoloft for six months, and then I recovered. A year later, I'm relapsing. From a scale of one to ten I'm at a level 12 of pain; I can't get these delusions out of my head and no amount of high intensity exercise is helping. I desperately need to be back on medication again, but I don't want to jeopardize my HPSP opportunities. It's incredibly unfortunate that my illness prohibits me from getting the most out of my life. I'm trying. I'm fighting. OCD is the biggest challenge I've ever faced in my life. But I'm just not strong enough this time. I'm holding on for dear life.

Does anyone know of any other loan repayment programs and is willing to speak about them? When did you enter them, what the obligations are, etc.

Members don't see this ad.
 
Medicine is fairly unique in the graduate/professional ecosystem in that you really don't need to worry about student debt too much unless you're taking on an absolutely insane amount. Your pay as an attending physician will allow you to repay those loans fairly rapidly given a smart lifestyle and careful budgeting in an almost guaranteed way that very few (if any) other profession provides. I would not make these programs your end all be all especially if your main motivation is to be able to afford a car. There is absolutely nothing humiliating about not having one. Many, in fact, do not even in their thirties and forties. Please seek the help you need and put yourself first. Even if you managed to hold off long enough on Zoloft for the HPSP, you cannot hold off indefinitely during your career in the military.

That being said, here is one of the major loan forgiveness programs you may consider that does not include military service requirements: Public Service Loan Forgiveness (PSLF)
 
Last edited by a moderator:
  • Like
Reactions: 1 user
Всё будет в порядке)

You'll be able to pay off loans as a doctor no problem - especially if you go into a lucrative field.

But that aside, many states will offer to repay a certain amount of loans if you work in a rural area in certain specialties.
 
Members don't see this ad :)
Medicine is fairly unique in the graduate/professional ecosystem in that you really don't need to worry about student debt too much unless you're taking on an absolutely insane amount. Your pay as an attending physician will allow you to repay those loans fairly rapidly given a smart lifestyle and careful budgeting in an almost guaranteed way that very few (if any) other profession provides. I would not make these programs your end all be all especially if your main motivation is to be able to afford a car. There is absolutely nothing humiliating about not having one. Many, in fact, do not even in their thirties and forties. Please seek the help you need and put yourself first. Even if you managed to hold off long enough on Zoloft for the HPSP, you cannot hold off indefinitely during your career in the military.

That being said, here is one of the major loan forgiveness programs you may consider that does not include military service requirements: Public Service Loan Forgiveness (PSLF)
This^^^^^. People worry about debt all the time, but medicine is pretty much the highest paid, most stable career out there. Sure, superstars in finance, tech and law do much better, but none of them has the job stability and chronic labor shortages of medicine. And yeah, you'll be a slave to the debt until it is repaid, but, it WILL be repaid, and then you'll be good to go for the rest of your life. So, don't feel so paralyzed by the prospect of debt that you do something you wouldn't otherwise do, like HPSP.

I know you said you have a passion to serve. If that's true, great. If your true passion is to avoid med school debt, and HPSP seems like a cool way to do it, the word on the street is that most people who do it for that reason end up regretting it. I am saying this because, while I am the furthest thing from a expert on mil med and HPSP, I do know that they scrutinize your medical history, and you end up needing waivers for every little thing before you are deemed eligible to enter the military as an officer.

There is therefore a very real possibility that you have already jeopardized your HPSP opportunity, based on how your medical history and current situation is judged. I'd post the question in the mil med or HPSP forums, and go from there. Just remember to take care of yourself first and foremost. Also, don't obsess on the debt. There are very few reports of homeless or destitute MDs, regardless of the level of debt they graduated med school with. Good luck!!!
 
  • Like
Reactions: 1 users
If you believe that you'd join the military without any other incentive, then by all means- go for it. If you're doing it to avoid taking on debt, do not participate in the program. Absolute worst case scenario for medical debt is roughly 400k- for students with this much debt, the PSLF pretty much negates any long term ramifications.

With most medical students, you'd have no idea they were deeply in debt based on their spending habits. While it's definitely not the most financially literate decision, many students take more debt to fund vacations and spending splurges. It's really not as big of a deal as you may think.

Kevin W, MCAT Tutor
Med School Tutors
 
  • Like
Reactions: 1 user
Top