odieoh

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Is anyone aware of any loan repayment programs for rural specialists? I know there are lots of programs for primary care docs but not sure about other specialties. I work in a rural area (in ophthalmology) and just found out I qualify for a $2500 state tax credit because of this and it got me wondering if there are any repayment programs as well. Anyone know of anything?
 

illegallysmooth

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May 21, 2008
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Buffalove
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Is anyone aware of any loan repayment programs for rural specialists? I know there are lots of programs for primary care docs but not sure about other specialties. I work in a rural area (in ophthalmology) and just found out I qualify for a $2500 state tax credit because of this and it got me wondering if there are any repayment programs as well. Anyone know of anything?
Are you in private practice? Which state?
 

Rabbit Hole

We're all mad here.
Dec 29, 2009
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Is anyone aware of any loan repayment programs for rural specialists? I know there are lots of programs for primary care docs but not sure about other specialties. I work in a rural area (in ophthalmology) and just found out I qualify for a $2500 state tax credit because of this and it got me wondering if there are any repayment programs as well. Anyone know of anything?
I found these websites to be pretty helpful/informative about loan repayment options. I don't know if they will be of any use to you but it wouldn't hurt to browse around.

National Health Service Corps

Federal Student Aid Repayment Information

Student Loan Borrower Assistance
 

odieoh

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Thanks for the input, I had seen those sites and yeah, haven't really seen anything I can use. Not complaining much, I'm grateful I graduated when I did when interest rates were really low and when tuition was exorbitantly high but not super super exorbitantly high like it is now.
 

Rabbit Hole

We're all mad here.
Dec 29, 2009
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Wonderland
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Thanks for the input, I had seen those sites and yeah, haven't really seen anything I can use. Not complaining much, I'm grateful I graduated when I did when interest rates were really low and when tuition was exorbitantly high but not super super exorbitantly high like it is now.
Yea, I only take out what I absolutely need because taking out more = extra years on repayment or higher monthly bill. The business side of medicine is a beast a lot of us new students are not prepared for. I'm just trying to get a head start because I keep hearing these horror stories about student loan debt. I may want to go into private practice someday so I need to keep an eye out for my finances and learn how to add. :)

Sorry those websites were of no help. Maybe you should look into other areas of your life where some possible tax credits could be hiding and use that money to pay off your loans quicker. Find out what you can write off as business tax exemptions or donations you make to a charity (you can get a receipt from them even if you just donate old clothes). Save all your receipts for EVERYTHING because you never know what you can write off.. and that's extra money that stays in your pocket. Goodluck.
 

odieoh

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Jun 25, 2003
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Yea, I only take out what I absolutely need because taking out more = extra years on repayment or higher monthly bill. The business side of medicine is a beast a lot of us new students are not prepared for. I'm just trying to get a head start because I keep hearing these horror stories about student loan debt. I may want to go into private practice someday so I need to keep an eye out for my finances and learn how to add. :)

Sorry those websites were of no help. Maybe you should look into other areas of your life where some possible tax credits could be hiding and use that money to pay off your loans quicker. Find out what you can write off as business tax exemptions or donations you make to a charity (you can get a receipt from them even if you just donate old clothes). Save all your receipts for EVERYTHING because you never know what you can write off.. and that's extra money that stays in your pocket. Goodluck.
Thank you, I didn't mean to imply the sites weren't helpful, just that I didn't find anything specifically as far as a program to help specialists repay loans. You are definitely right about getting a head start and cutting out any unnecessary expenses early on. When I started med school we had this financial counselor guy come talk and he gave an example of how much it would cost you to buy a $15 dollar pizza using loan money. I forget the exact number but it ended up costing like $80 by the time the interest had all accrued.

Definitely there are lots of deductions you can take advantage of, moving expenses for your first job is one good one a lot of residents will be able to take advantage of. Student loan interest is another, even during residency be sure to pay at least $2500 in interest, you can deduct it. I'm paying extra on my loans every month and basically living on the same budget I did as a resident (ok, with a FEW perks :)) . Debt drives me crazy and I want to get out ASAP, I'm paying a bunch extra every month. I'm driving a 1993 dodge Dakota with 205,000 miles on it, which I don't mind at all actually. The good life will come soon enough!!
 
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