Paying off debt during residency/fellowship

[Lothric]

Hey,

Is it possible to - as a single - pay off a debt of 60000 $ during the time in residency (internal medicine) and fellowship (heme/onc) so that I'm debt-free at the end of the fellowship?

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[naijacardriodoc]

I would say yes...if you are very conservative and live like a college student for a while.


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[mvenus929]

All depends on your expenses. I paid off $5000, built up a $7500 emergency fund, and put about $10K into a roth IRA during residency. If I cut my expenses some, I could've certainly paid off more, but that's $22.5K right there.

 

[Med0123]

I paid off approximately 35k during my 5 years residency without being too frugal (but I lived with a roommate). What helped is that I live in a low cost of living area. I would have paid off more but I had some unexpected 10k of medical expenses.

 

[Lothric]

I would say yes...if you are very conservative and live like a college student for a while.


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I'm from Sweden, I don't know how college students live (no colleges here).

I don't mind cutting down expenses, I'm really good at it. However, one thing I can not do is share room with someone. Is room-sharing as a single necessary to pay off the 60k debt at the end of the residency/fellowship (IM + onc/heme)?

 

[mvenus929]

I'm from Sweden, I don't know how college students live (no colleges here).

I don't mind cutting down expenses, I'm really good at it. However, one thing I can not do is share room with someone. Is room-sharing as a single necessary to pay off the 60k debt at the end of the residency/fellowship (IM + onc/heme)?

Ive lived alone since I graduated from Med school. I pay a decent amount for my appt, but I could easily pass less, it would just be less convenient. It really depends on where you live, though.

 

[naijacardriodoc]

I'm from Sweden, I don't know how college students live (no colleges here).

I don't mind cutting down expenses, I'm really good at it. However, one thing I can not do is share room with someone. Is room-sharing as a single necessary to pay off the 60k debt at the end of the residency/fellowship (IM + onc/heme)?

Oh what I meant by that was being frugal and getting a roommate...def not room sharing...unless that’s ur thing


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