- Joined
- Nov 29, 2015
- Messages
- 23
- Reaction score
- 15
Hi all,
I have gotten some nice feedback on here on a multitude of things, and I figured I would try it with another large issue myself, and maybe some others are going through as well.
First a little background, I believe I want to pursue a surgical specialty (CT Surgery, of course subject to change if I find my niche during clerkships). I will matriculate into a MD program in August and plan on applying in-house to the MD/PhD program after my second year (I have checked with my institution and this is good to go as there are spots open).
Like most of you, I am matriculating into medical school in August. I came from a middle class family and went to a private college which I financed myself (family couldn't make it work to help) through private loans. As we currently sit today I am in 80k of undergrad private loan debt (at 7.99% APR Variable rate), and another 20k of sub/unsub loans. Now with financing medical school (additional 210k @ 6.7% govt loans) I am slightly concerned at the prospective debt load I will have coming into residency. My current calculations place me at a total of $434,000 dollars of loan debt (med, undergrad, and interest) starting off my residency.
My question is: Is this a "normal" amount of debt for students? Is this a manageable amount of debt, especially considering my residency will be at least 6 years, maybe longer. I have the Navy HPSP commission offer waiting, and I would love to serve (the only detraction I have is the possibility of skill atrophy) and I am considering this program. For those who are wondering the Navy has approved a pre-nub agreement drafted and signed by an Admiral stating they will let me pursue the PhD if accepted.
I would love to hear your feedback and advice!
Thanks
-ParamagicCCP
I have gotten some nice feedback on here on a multitude of things, and I figured I would try it with another large issue myself, and maybe some others are going through as well.
First a little background, I believe I want to pursue a surgical specialty (CT Surgery, of course subject to change if I find my niche during clerkships). I will matriculate into a MD program in August and plan on applying in-house to the MD/PhD program after my second year (I have checked with my institution and this is good to go as there are spots open).
Like most of you, I am matriculating into medical school in August. I came from a middle class family and went to a private college which I financed myself (family couldn't make it work to help) through private loans. As we currently sit today I am in 80k of undergrad private loan debt (at 7.99% APR Variable rate), and another 20k of sub/unsub loans. Now with financing medical school (additional 210k @ 6.7% govt loans) I am slightly concerned at the prospective debt load I will have coming into residency. My current calculations place me at a total of $434,000 dollars of loan debt (med, undergrad, and interest) starting off my residency.
My question is: Is this a "normal" amount of debt for students? Is this a manageable amount of debt, especially considering my residency will be at least 6 years, maybe longer. I have the Navy HPSP commission offer waiting, and I would love to serve (the only detraction I have is the possibility of skill atrophy) and I am considering this program. For those who are wondering the Navy has approved a pre-nub agreement drafted and signed by an Admiral stating they will let me pursue the PhD if accepted.
I would love to hear your feedback and advice!
Thanks
-ParamagicCCP