PSLF Possible in EM?

[KGflyboy]

Does anyone actually work for a 503c not for profit? I can't imagine it's easy to find these jobs if they do exist. Sure, employment during residency probably counts for most people planning to apply for PSLF, but then what? Even the jobs at not for profit hospitals don't help after residency since they almost universally contract with for profit companies who then employee the physicians.

What are the odds an EM doc could meet the requirement of working for a 503c employer for 10 years and qualify for loan forgiveness?

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[GonnaBeADoc2222]

Employment during residency definitely counts. There do exist some attending jobs where you are directly employed by a hospital or other 501c3 groups, however, PSLF is presently under fire from the current administration so your guess is as good as mine if PSLF will even exist at all.

 

[Bouddha]

Does anyone actually work for a 503c not for profit? I can't imagine it's easy to find these jobs if they do exist. Sure, employment during residency probably counts for most people planning to apply for PSLF, but then what? Even the jobs at not for profit hospitals don't help after residency since they almost universally contract with for profit companies who then employee the physicians.

What are the odds an EM doc could meet the requirement of working for a 503c employer for 10 years and qualify for loan forgiveness?

FYI, Devos (and by default president cheetah-head) wants to get rid of PSLF. If we're lucky, he'll be impeached before any permanent damage is done.

 

[deleted480308]

despite the fact that I think the PSLF should go away....

there are some gov EM jobs but it seems EM has a lot more private groups staffing EDs than nonprofit employee of hospital models.

hell, maybe there's a market here.....start a non-profit ED staffing group

 

[Dred Pirate]

VA EM jobs would count-
Or EM MD's at University medical centers

 

[KGflyboy]

VA EM jobs would count-
Or EM MD's at University medical centers

Those were the two options I was thinking of too. I doubt I would like working at the VA, but maybe.

I'm not familiar with too many university medical centers, but that sounds like the most promising option. Don't many teaching hospitals still contract with for profit physician groups for the ED though? Some of those jobs might count for PSLF, but maybe not. If a doc is compensated by an independent group to work in a teaching hospital but also gets a stipend or additional pay from the school as a core faculty member to teach residents, would that scenario qualify for PSLF? Hopefully.

 

[HopefulEMed]

Honestly, I am not banking on PSLF anymore. The Obama administration tried to castrate it and so is the Trump administration. Alas, such is life.

 

[Dred Pirate]

Those were the two options I was thinking of too. I doubt I would like working at the VA, but maybe.

I'm not familiar with too many university medical centers, but that sounds like the most promising option. Don't many teaching hospitals still contract with for profit physician groups for the ED though? Some of those jobs might count for PSLF, but maybe not. If a doc is compensated by an independent group to work in a teaching hospital but also gets a stipend or additional pay from the school as a core faculty member to teach residents, would that scenario qualify for PSLF? Hopefully.

I am pretty sure if unless the majority of your pay comes from the non-profit it won't count - I don't qualify - graduated before 07 - but many of my coworkers are counting on it - I know several RPh's with 250-300k in loans (absolutely crazy) who are scare now that it won't go through,

 

[tux4]

Honestly, I am not banking on PSLF anymore. The Obama administration tried to castrate it and so is the Trump "administration." If I can find a job with a pay of 300,000-350,000, it would take me 2-2.5 years with little savings to clear out my debt. Alas, such is life.

Even if they get rid of it, the promissory notes in all of our student loans (taken after 2007) have PSLF written into the contract. So the best course of action for them would be to make all future loans ineligible for it. I pray they don't cap it..I am in a gigantic amount of debt (>450k).


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[Trail Blazer]

Recent grad here, went out of state for med school, wound up with 330k in debt (~20k was from state school for college). I was super pessimistic about PSLF (and still am), but I talked with a student loan expert WCI recommended (Jan Miller, he is fantastic and I highly recommend him, initial convo was free) and asked him if the pessimism is well founded. Per him, he would be "shocked" if those of us from 2017 class weren't grandfathered in as "there is no precedence in the history of student loans" for it to be cancelled after you've already turned in the paperwork (so do it July 1st). However, for grads after 2017 they may be SOL.

As an aside, I was wondering if anyone knew if working for Kaiser EM counts towards PSLF?

 

[Mad Jack]

There's a lot of talk of ending PSLF. If it isn't funded, no forgiveness for you.

 

[KGflyboy]

There's a lot of talk of ending PSLF. If it isn't funded, no forgiveness for you.

Maybe. Probably not. Have you heard any credible sources talk about getting rid of PSLF all together? I haven't. Everyone in the know seems to think the only realistic way to discontinue PSLF is to phase it out and grandfather everyone in. The other possibility is that they could cap the amount forgiven, which seems reasonably possible.