I copied this from <a href="http://www.dr4feet.com" target="_blank">www.dr4feet.com</a>
Student Loan Hell
MD's, DO's, RN's, LPN's, PA's are just a few of the members of the health care team that are afforded the luxury of a "Loan Repayment Program" (LRP). Why not us? What is wrong with this picture. Why can't we have the same opportunities?
How come there are no student loan repayment programs for podiatrists? Sure, some wise-guy is going to tell me, "Indian Health Services has a handful of opportunities". And I mean a handful. According to my research approximately 5 were available last year. This year I am only aware of one.
I have done, what I believe to be, the most extensive research on this topic. Please go to my web site Dr4Feet.com & click Podiatry Topics. I have dedicated my web site's podiatry topic to this one issue, to helping DPM's with their student loan debt. I am not aware of any other DPM or DPM Organization that are interested in this. If there are any, please let me know so we can help DPM's in debt. I have contacted so many agencies with the hope of finding LRP's for podiatrists. I have listed all of their responses. It is really pathetic.
I never thought I would be in the position where I could be in Student Loan Hell. Sure you have others in our profession, that would love to respond to us "Struggling DPM's", saying such things as, "you took the loan, now pay it", or "you're a disgrace to the profession". My attitude is screw them.
Every now & then we see a letter in a podiatry magazine stating there are too many DPM's struggling. But we don't see enough articles about those with an enormous student loan debt. Why not? Are we an embarrassment to the profession? Are we afraid the public will find out? I personally believe there are DPM's out there that are thrilled to know student loan hell exists. This means more of us will not be able to maintain a practice & go out of business. And, if we Default on the student loans, we can be excluded from participating with Medicare. What about Bankruptcy? Not allowed.
There should be programs available for DPM's to work off their student loans. I'd like to see a program where a DPM can work 1 day per week in some type of underserved/rural community. Perhaps this can exist for 10 years. If the DPM arranges to work more time they can finish their obligation sooner. My research has shown that that most LRP's can offer as much as $30,000 per year, including a salary & other benefits. You usually have to sign on for at least 2 years. I wouldn't be surprised if we ended up with LRP's at low repayments with no salary. After all this is podiatry. When I was a resident at St. Albans Veterans Administration Medical Center, there was no salary. No benefits. Therefore it wouldn't surprise me.
I live & work in Far Rockaway, one of the poorest but nicest areas in New York City. There are Article 28 Clinics in my neighborhood. What more proof do you need to prove I am struggling. My wife & I live in a 1 bedroom apartment with 3 small children. I'm not ashamed of this. We are happy to raise our family here. A larger apartment would be helpful. Many of my patients know my story. I joke with them about my situation, "so when should I come back Dr. Rudnick"? I tell them, " tomorrow, the day after & every day for at least a year, so I can pay off my student loans". This always gets a smile.
When I graduated podiatry school, no one was guaranteed a Residency. No one was guaranteed an LRP. Why not? My heart goes out to every DPM that has an enormous debt. Who is helping them? Who is there in the middle of the night to listen to them cry about their loans. I see all these banners on search engines about Eliminating Debt. Free yourself from credit card debt. We will help you declare bankrupcy. But student loans...forget it. It ain't going to go away. You are stuck with it.
I read of too many DPM's who can't get on insurance panels. That is a real problem. DPM's that want to be MD's. Tell that to a DPM about to go into default on their student loans. I know I don't give a damn about this. Board certification. If I had a choice to pay my student loan or take a board review course & certification exam, my money goes for the student loans. You don't pay your student loans you can get into a lot of trouble. You don't get board certified…I don't know. What can happen?
I was told in one email response (also on my web page) podiatry has to blame itself for not being part of the National Healthcare Service Corps. We pushed hard to let them know we are a surgical specialty. I don't care if I never perform another bunion surgery again, if that is what it takes to get a loan repayment program. I am not selling myself short. I am desperate.
I've surfed into web sites that list Defaulted Doctors. I don't believe for a minute those listed went out of their way not to pay their loans. I can sympathize with them. I know what is like to be behind payments. To have my lender call me at work & home to tell me I am behind on payments. I know ignoring these calls is the worst thing you can do. So I always call them back. After giving them your ID # the first sentence they say is, "Dr. Rudnick, I must inform you that you are currently 81 days late on you student loan payments". "I am sorry. I didn't make enough money these past few weeks to send all the requested amount. I could only send $ 200.00 a month & not the required $ 785.00". You'd think they would say, "thank you for sending something towards payment because this shows us you are trying your best to make good on your promissory note". But no way.
There was a letter written into a podiatry magazine last year. This DPM stated, podiatry school students, are using their loan money to buy fancy cars & live a good life. Is this person for real?
So what do we struggling hero's of the podiatry profession do? We are hero's. We are the winners. We go out there, do our job & try to make the best of it without putting a gun to our heads. That makes us a real winner. I won't be silent on this issue. I've even contacted several talk shows, hoping they will make this a topic. I am not embarrassed being in debt with student loans. I am embarrassed this profession has no adequate LRP's for its graduates.
Sincerely,
Alan Rudnick, D.P.M.
[email protected]
05/01/2000