PSLF / 501C3 Hospitalist Jobs

[Aar0n]

I am a PGY-3 IM resident. I am planning on being a hospitalist next year. I have a pretty horrid loan situation and I am thinking of taking advantage of the PSLF program. I am beginning the process of my job search for next year but I honestly have no clue where to start. My personal and work emails are flooded with hospitalist job offers but all of them seem to be physician owned groups that are not non-profits. Does anyone have any suggestion on where and how to search for hospitalist jobs that would qualify for the PSLF program (501C3 organizations). Other than looking at the VA I haven't been able to find a good database or starting point. Thanks for your help!

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[chessknt]

I am a PGY-3 IM resident. I am planning on being a hospitalist next year. I have a pretty horrid loan situation and I am thinking of taking advantage of the PSLF program. I am beginning the process of my job search for next year but I honestly have no clue where to start. My personal and work emails are flooded with hospitalist job offers but all of them seem to be physician owned groups that are not non-profits. Does anyone have any suggestion on where and how to search for hospitalist jobs that would qualify for the PSLF program (501C3 organizations). Other than looking at the VA I haven't been able to find a good database or starting point. Thanks for your help!

Most academic places are nonprofit, however take a hard look at the pay cut over the time frame you'll have to work to get the benefit.

Also I would be very cautious about this coming to fruition-having someone making 6 figures get a free payout from the cash strapped and increasing collectivist government does not seem like good odds.

 

[InvestingDoc]

Unfortunately no way to search a database that I am aware of. Most friends that I have ended up working for a university

 

[jdh71]

I am a PGY-3 IM resident. I am planning on being a hospitalist next year. I have a pretty horrid loan situation and I am thinking of taking advantage of the PSLF program. I am beginning the process of my job search for next year but I honestly have no clue where to start. My personal and work emails are flooded with hospitalist job offers but all of them seem to be physician owned groups that are not non-profits. Does anyone have any suggestion on where and how to search for hospitalist jobs that would qualify for the PSLF program (501C3 organizations). Other than looking at the VA I haven't been able to find a good database or starting point. Thanks for your help!

MOST hospitals in this country are 501c3s. Ask the hospitals directly. Find a hospital employed job.

 

[gutonc]

MOST hospitals in this country are 501c3s. Ask the hospitals directly. Find a hospital employed job.

This is the key. Unless you work for one of the few for-profit hospital systems out there, the hospital you work for is likely to be 501c3. But the hospitalist group may be private, especially at smaller community hospitals that aren't part of a larger regional hospital network.

 

[kaycee18]

what if you worked for a 503c hospital but were employed by a company like Team health, Sound physicians, envision etc. Could you still apply? I have decided to pursue this option because it makes no sense to pay 200k of loans if I could qualify for pslf.

 

[whoknows2012]

what if you worked for a 503c hospital but were employed by a company like Team health, Sound physicians, envision etc. Could you still apply? I have decided to pursue this option because it makes no sense to pay 200k of loans if I could qualify for pslf.

Whomever pays the paycheck. If it’s the hospital you’re good, if not you don’t qualify

 

[gutonc]

what if you worked for a 503c hospital but were employed by a company like Team health, Sound physicians, envision etc. Could you still apply? I have decided to pursue this option because it makes no sense to pay 200k of loans if I could qualify for pslf.

Quite the necrobump...when I wrote the post you quoted, I never expected to get PSLF because I assumed someone (45 most likely) would have nuked the program by now. But I got my letter, and loans zeroed out, in February.

To answer your question, it doesn't matter who owns the hospital, it matters who "owns" you. And if it's TH or some other private equity s***show, the answer is no, you don't qualify for PSLF.

 

[whoknows2012]

Quite the necrobump...when I wrote the post you quoted, I never expected to get PSLF because I assumed someone (45 most likely) would have nuked the program by now. But I got my letter, and loans zeroed out, in February.

To answer your question, it doesn't matter who owns the hospital, it matters who "owns" you. And if it's TH or some other private equity s***show, the answer is no, you don't qualify for PSLF.

8/7/2023 is payment #120 for me 😁

 

[collegestud2013]

what if you worked for a 503c hospital but were employed by a company like Team health, Sound physicians, envision etc. Could you still apply? I have decided to pursue this option because it makes no sense to pay 200k of loans if I could qualify for pslf.

You need 120 qualifying payments to apply. As mentioned above whoever your paycheck comes will decide, and not what type of hospital facility you're working at. Since CMGs like TH, Sound, Envision are all for profit organizations, payments made while employed by them would not qualify. You would have to be simultaneously employed by at another 503c organization for at least 30 hrs per week to qualify. However, the profit organizations usually pay more than places that qualify like academics or VA (where you usually end up at the bottom percentiles for your specialty), so unless you have massive loans working for a higher paying for profit organization over 7 years could cancel out the amount of amount of PSLF forgiveness but working a lower-paying non-profit.

 

[kaycee18]

You need 120 qualifying payments to apply. As mentioned above whoever your paycheck comes will decide, and not what type of hospital facility you're working at. Since CMGs like TH, Sound, Envision are all for profit organizations, payments made while employed by them would not qualify. You would have to be simultaneously employed by at another 503c organization for at least 30 hrs per week to qualify. However, the profit organizations usually pay more than places that qualify like academics or VA (where you usually end up at the bottom percentiles for your specialty), so unless you have massive loans working for a higher paying for profit organization over 7 years could cancel out the amount of amount of PSLF forgiveness but working a lower-paying non-profiti

I did some payments during residency and I have worked 3-4 years now in 503 hospital (not including the 2 years I worked for sound physicians). I am not sure I was consistent during residency though and Great Lakes has transferred my loans, so I can't see payment history. If I my residency is counted, then I could ideally save 125k from the 200k left to pay off. I would have qualified in 1 year if those 2 years counted. Worst was the fact that I was lowed balled for this nocturnes work. I really hate sound physicians. No one in their right minds should work for them especially as most pslf is getting approved now.

 

[LoudBark]

Quite the necrobump...when I wrote the post you quoted, I never expected to get PSLF because I assumed someone (45 most likely) would have nuked the program by now. But I got my letter, and loans zeroed out, in February.

To answer your question, it doesn't matter who owns the hospital, it matters who "owns" you. And if it's TH or some other private equity s***show, the answer is no, you don't qualify for PSLF.

"But I got my letter, and loans zeroed out, in February."
I thought you were an MD Phd from Downstate? I had always heard that the MD Phd students from other schools I knew of had their tuition taken care of and even had a stipend given to them and they graduate with zero debt. Was this not the case at Downstate?

 

[gutonc]

"But I got my letter, and loans zeroed out, in February."
I thought you were an MD Phd from Downstate? I had always heard that the MD Phd students from other schools I knew of had their tuition taken care of and even had a stipend given to them and they graduate with zero debt. Was this not the case at Downstate?

Tuition was paid ( back then, tuition for the MD students was <$15K/y). And I got a stipend during the grad school years, which was almost enough to pay half the rent of my super cheap apartment. But it didn't come anywhere close to covering cost of attendance.

Hopefully it's better now, but I wouldn't hold my breath.