- Joined
- Mar 20, 2004
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Some of you may be familiar with my struggles to include FP as a potential career, but for those who aren?t, here?s a quick run-down:
I?m a non-traditional medical student (married, former military, several years in ?the real world? doing various things like building houses, working in the computer industry, and toiling away in a biotech lab) from a small town who harbors dreams of returning to small-town life back home as a family doc. I currently attend a private school where tuition and the cost of living are pretty steep, and I have worried almost incessantly that I wouldn?t be able to afford to pay my bills and live a comfortable life on a family physician?s income. Taking a look at ?the numbers? only increased my feelings of uneasiness and I was almost resigned to the idea that I would have to settle for a specialty that would pay me more, but wouldn?t really be what I wanted. However?
I delved deeper into the numbers and was more than pleasantly surprised at what I found. Without getting into specifics (I?ll be glad to post more if there is interest, and I?ll certainly answer PM?s on the subject) I found that FPs CAN STILL MAKE IT, EVEN WITH WHAT SEEMS LIKE SUFFOCATING DEBT!!! In my case the solution was simply to continue living like on a resident?s salary for five-years after completing residency, arriving on the other end DEBT FREE. For those of you who find that distasteful, consider the following:
If you plan to pursue a medical or surgical subspecialty, you will be living on a resident?s salary for roughly 5-6 years (that?s 5-6 years where your student loans are continuing to accrue interest). Afterward, you?ll have 2-3 years to become debt-free on the same timeline as an FP who pays his/her loans off in 5 years post-residency. Is this feasible? Yes, but you?ll have to live pretty much like a resident for those 2-3 years in order to make it happen. The net result is that no matter which specialty one chooses, to be debt-free 8 years after graduating from medical school, one will have to live like a resident for those 8 years.
So I say again ?FPs CAN STILL MAKE IT!!!?
Willamette
I?m a non-traditional medical student (married, former military, several years in ?the real world? doing various things like building houses, working in the computer industry, and toiling away in a biotech lab) from a small town who harbors dreams of returning to small-town life back home as a family doc. I currently attend a private school where tuition and the cost of living are pretty steep, and I have worried almost incessantly that I wouldn?t be able to afford to pay my bills and live a comfortable life on a family physician?s income. Taking a look at ?the numbers? only increased my feelings of uneasiness and I was almost resigned to the idea that I would have to settle for a specialty that would pay me more, but wouldn?t really be what I wanted. However?
I delved deeper into the numbers and was more than pleasantly surprised at what I found. Without getting into specifics (I?ll be glad to post more if there is interest, and I?ll certainly answer PM?s on the subject) I found that FPs CAN STILL MAKE IT, EVEN WITH WHAT SEEMS LIKE SUFFOCATING DEBT!!! In my case the solution was simply to continue living like on a resident?s salary for five-years after completing residency, arriving on the other end DEBT FREE. For those of you who find that distasteful, consider the following:
If you plan to pursue a medical or surgical subspecialty, you will be living on a resident?s salary for roughly 5-6 years (that?s 5-6 years where your student loans are continuing to accrue interest). Afterward, you?ll have 2-3 years to become debt-free on the same timeline as an FP who pays his/her loans off in 5 years post-residency. Is this feasible? Yes, but you?ll have to live pretty much like a resident for those 2-3 years in order to make it happen. The net result is that no matter which specialty one chooses, to be debt-free 8 years after graduating from medical school, one will have to live like a resident for those 8 years.
So I say again ?FPs CAN STILL MAKE IT!!!?
Willamette