some food for thought: http://www.acep.org/1,5368,0.html: "Another study published in the same issue included all 415 internal medicine programs in the United States. It found that of the 4,130 residents who returned surveys, 42% had debt of at least $50,000 and 19% had debt of at least $100,000. Forty three percent of the respondents had a monthly disposable income of $100 or less, and 16% said they couldn't afford safe housing. Despite an 80-hour work week during residency, 33% of residents had moonlighting jobs and 349 reporting working more than 20 hours a week at those jobs. Residents with heavy education-related debts were more likely to moonlight." http://www.usnews.com/usnews/edu/grad/articles/premium/03loan.php For those who need to borrow large sums and who don't anticipate high earnings, a long repayment period can make sense, even though the total cost of the loan will be much higher. Robert Gaudet, 29, took out over $100,000 in federal loans to pay for his undergraduate, master's, and law degrees. The third-year law student at Stanford University in California, who plans to go into public service, estimates his monthly payments will be around $700 a month with a 30-year loan rather than $1,200 a month with a 10-year loan?though his interest costs will run an extra $95,000. If his income turns out to be higher than expected, he says, "I can always pay the loans off early." according to the AAMC.org - 81% of med students use loans to finance their educations... to me that means that 19% of med students - 1 in 5 are rich enough not to have to borrow money... that interesting. but this loan stuff has really started to bother me now. from what i hear, PGY-1 get about 50K. after taxes that is $2800 a month. in NYC decent cheapie rent costs $1K... living in the ummm... how shall we say, less than circumspect could save you maybe $300. but lets say that leaves you with $1800. taking out the $700 a month for loans, you're left with $1100. which equates to $275 a week for groceries, food, clothes, going out. i guess it can be done, but damn thats awful tight. thats some serious incentive to look for positions which pay well... imagine having to make monthly $700 loan payments in addition to car payments and rent for 10 years. would banks even offer mortgages to someone who has $100K of debt? lol - its funny, but I have a feeling they would... only really fricken expensively. does anyone have any ideas? maybe someone's talked to older friends or parents who have gone through the same thing?