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So is a residency for cardiology (physician) simply 3 years? And how about for cardiac or thoracic surgery?
Thanks
Thanks
So is a residency for cardiology (physician) simply 3 years? And how about for cardiac or thoracic surgery?
Thanks
How much do such residents generally earn each year? (ex. internal medicine residency, cardiology fellowship, general surgery residency, thoracic fellowship)
How much do such residents generally earn each year? (ex. internal medicine residency, cardiology fellowship, general surgery residency, thoracic fellowship)
but generally that's how much you can expect lol)
but you get to postpone paying off loans until after residency.
There are criteria you have to meet to get a deferment. In my wife's case, she didn't satisfy the income requirement (residency paid too much compared to what she owed --by $7!!!). She had to enter repayment immediately after graduating medical school. YMMV, but caveat emptor.
yeah, I know a general surgery residency could run 5 years easily. Now, if you want to become a vascular or cardiothoracic surgeon you're talking another 3 or so years after residency of fellowship training. Picture that, the same amount of time it took to go from a college freshman to an M.D. is the same amount of time it takes to go from an M.D. to a card surgeon. I think for cardiology you have to do about 3 years of fellowship and maybe 4-5 years of internal medicine residency, so no matter what specialty you choose, you're looking at a pretty decent chunk of time in which to actually become a board-certified "whatever". And yeah, you'll only be making 30-40K a year. Not that it matters anyway, you could make a million a year, when you're in the hospital 24-7 it doesn't really matter.
I wish some current residents would chime in on this thread, because it is my understanding that current starting resident pay, at least in some places, runs in the mid to high $40s or closer to $50k, not the $30s being tossed about here...still not enough money, but enough to make a difference in quality of life...
I wish some current residents would chime in on this thread, because it is my understanding that current starting resident pay, at least in some places, runs in the mid to high $40s or closer to $50k, not the $30s being tossed about here...still not enough money, but enough to make a difference in quality of life...
Finally, it is not true that you can defer your loans all through residency. There is a fairly complicated formula used based on your salary as a resident and how much loan debt you have. It does NOT account for the cost of living in your area - when the government decided I made too much to defer loans any longer, they generously requested a monthly payment which amounted to 60% of my monthly take home pay. Needless to say, I had to renegotiate that. So in some ways it behooves you to make less and have a higher loan debt (having too little in loans will cause them to decide you can afford to start paying them back as well).
Finally, it is not true that you can defer your loans all through residency. There is a fairly complicated formula used based on your salary as a resident and how much loan debt you have. It does NOT account for the cost of living in your area - when the government decided I made too much to defer loans any longer, they generously requested a monthly payment which amounted to 60% of my monthly take home pay. Needless to say, I had to renegotiate that. So in some ways it behooves you to make less and have a higher loan debt (having too little in loans will cause them to decide you can afford to start paying them back as well).
The interest accumulates with a fellowship.
to the OP, cardiothoracic surgery includes first a general surgery residency (6 years) then a cardiothoracic fellowship (2 years). you can then sub-sub-specialize, say, in peds cardiothor, which another 2 years of fellowship.
all in all, 10 years after medical school 🙂.
While a deferment is based on an economic hardship calculation, I thought you could always request a forbearance during residency and fellowship. You don't have to pay a dime with either, but the interest accumulates with a forbearance. Signing for more loans just to have more debt doesn't really make financial sense.
Hey iamhans, I'm not sure where you got your info -- my numbers reflect the residency/fellowship process at my institution and that of a CT surgeon I shadowed. I'll PM you and would be happy to discuss the numbers because I'm actually interested, as I've considered a career in CT surgery.
*ophtho
I wish some current residents would chime in on this thread, because it is my understanding that current starting resident pay, at least in some places, runs in the mid to high $40s or closer to $50k, not the $30s being tossed about here...still not enough money, but enough to make a difference in quality of life...
Since CT surgery is no longer as competitive as it once was, it is debatable as to whether or not someone needs to do lab years to be considered for a fellowship.
ophtho? only works as an abbreviation. It's ophthalmology, children.
...it is my understanding that current starting resident pay, at least in some places, runs in the mid to high $40s or closer to $50k, not the $30s being tossed about here...still not enough money, but enough to make a difference in quality of life...