Not too late to do the military thing.
If I had another A I would be going with the lowest tuition but such is life
No Ortho here lol. General Surgery hopeful 🙏
Don’t forget that if you look at an income based repayment calculator assuming your payment’s gonna be 15% of discretionary income (most are gonna be 10% now, I think), the max you’re going to pay as a resident at $50k is maybe ~$260/month (assuming you start paying in residency bc your program qualifies you for PSLF or something) and the max you’re going to pay as an attending making ~$200k is around ~$1500/month. Doesn’t matter how much debt you take out if your loans are federal because there are controls on how much your payments are per month (assuming you use repaye, I guess). It is never going to be unaffordable.
www.whitecoatinvestor.com
and if you only have one choice? haha
my cousin (IM Primary Care) had over $500k from Einstein (though that's partly on her). She's working her tail off at a Geriatric center for loan repayment.
I'm glad I didn't apply to any of the for profit DO schools. It made my app cycle more difficult, but I would have been double screwed if it was my only choice.
Dave Ramsey Medical School Debt to Salary Ratio | White Coat Investor
Here's how to determine the maximum amount of student loan debt that your future earnings can support AND what to do if you already have too much.
While it sucks you’re typically ok if your student loans are within 2x your earnings as attending… and they wonder why more people don’t do primary care
When all is said and done I’ll have over $500k
Actually, if you file your taxes as a 4th year (which would show your net income as $0), your IBR would be based off that at least until PGY2.
And you didn't know this when you applied or were accepted??????
35 years is insane. I figure my best bet is to live very frugally after residency and try to pay it off in like 3-4 years
Not a lifetime. Federal debt under repaye is forgiven after 25 years... which is a horribly long time to stay in debt, but it is better than the alternative to me.
All established for-profit DO schools qualify for federal loans. So if you have A’s from a 75k/year for profit school vs Goro’s 100k/year “non-profit” AZCOM... I might consider the for-profit
All current for-profit schools in the U.S. are new schools that still currently require private loans.
RVU and BCOM I believe do federal.
Military is such a bad deal unless you like having little control over your life and you plan on living in a large city and making $140k as a pediatrician. Otherwise, it's better to go private practice in any other specialty (even FM) and work like a dog to pay off $400k in 2-3 years.
RVU does federal loans
I hate seeing 1/2nd years at nonprofit schools like ICOM and BCOM arguing they got better rates than federal loans when the norm is to have rates higher than or equal to federal loans. This is because they either had parents who cosigned ( lots of students do not have this luxury) or had very good credit (again not something all students have).
Yeah until you can’t pay during residency and they send someone to take a baseball bat to your knees. The rate isn’t what makes federal loans preferable, it’s the repayment options
BCOM is federal loans.
when I interviewed they did not, sorry for the wrong info.
The absolute craziest thing is that average dental school number are now 4-500k.
I don't think seats will stop filling to become a doctor. It's a job that many see as high respect, valued in many cultures, some parents see this as the only way, and debt in such magnitude is really just a number to some.
