For those in forensic pathology...

[Atomic]

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Have any of you considered or are currently enrolled in the public service repayment to help pay down your federal medical school loans?

It seems that the majority of forensic pathology jobs will be not-for-profit, and combined with lower pay (debt to income ratio), it seems we would be in the perfect position to have a large amount of federal loans forgiven after 10 years of reduced payments...

Anyone agree? Or is it crazy to think that the government is really going to be forgiving millions in loans starting in 2017 (the program started in 2007.)? Thoughts?

 

[jena2nsu]

I've read quite a bit into the 10 year public loan forgiveness program. As long as you work for 10 years (of the past 15) in a public service role, you can have your federally backed student loans forgiven. You are only required to make your minimum payments (which is based on your income) during that 10 year period.

http://www.law.georgetown.edu/news/releases/documents/Forgiveness_000.pdf

This was a really helpful well-written document to help me understand the program. It's 37 pages, but very interesting reading. It provides a couple of examples of how you can apply the public service loan forgiveness program.

Hope that helps. 🙂

 

[Circumflex]

I'm a current forensic pathology fellow and will definitely be looking into this option at the end of my fellowship. I talked with my current student loan lender and it is possible to enroll in the "payement based on income" program. Whether or not, it is all forgiven in 10 years, we'll see.

 

[KCShaw]

I don't know anyone who's planning for or expecting this, but it does sound worth looking into. Would residency/training positions count towards this? That would put you halfway home. As for loans actually being "forgiven," I'll believe it when it happens. It might happen, simply as a way to put off until tomorrow what you can get voted for today, but seems to me that putting that money into schools up front rather than just wiping the slate later is a better approach. But, anyway.

Certainly many -- but not all -- forensic pathology jobs would appear to fall under the non-profit or public service categories, if I read that right. There are a number of private/semi-private offices out there, and some seem to do better on the same budget as their government administrated counterparts. I wouldn't be surprised to see that trend continue, particularly as FP's become more consistent (due to more consistent training and certification practices), and local lay coroners become less common. But it may be a very slow trend.

 

[2121115]

If they want to stimulate the economy they should let you pay student loans with pre-tax dollars.