Updated Medical Student Debt Fact Card from the AAMC released

[fancymylotus]

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Taxes are the worst

The income change btw residency and working was fun

The subsequent tax change was NOT

 

[Jabbed]

Not so sure about that if you are single, have a lot of loans, and live in a high tax state...

PAYE/IBR. Granted, some situations are obviously worse than others, but the same could be said about any student debt. Imagine paying off 150k on an elementary school teacher's salary.

 

[Baller MD]

PAYE/IBR. Granted, some situations are obviously worse than others, but the same could be said about any student debt. Imagine paying off 150k on an elementary school teacher's salary.

I would think that elementary school teachers with 150k is much more rare though than a resident with 300k+ in loans.

 

[SouthernSurgeon]

I would think that elementary school teachers with 150k is much more rare though than a resident with 300k+ in loans.

Yup just look at the AAMC fact sheet for premed debt.

Undergrads with 150k are by far the exception

 

[IsabelDaza]

Link: https://www.aamc.org/download/152968/data/debtfactcard.pdf

They also updated their other resources with new information, full list can be found here: https://www.aamc.org/services/first/first_factsheets/358632/factsheetslisting.html

That is... horrifying. It just seems unconscionable to me to saddle (mostly) young 20 somethings with debt that reaches 5 figures before they are even earning a full time salary!

Not to rub it in but I'm very grateful that I live in a country that doesn't treat higher education as a revenue generating scheme (although it's starting to head that way). We still have to *pay* for our degree (it's a government loan indexed with inflation, no interest currently, that we start paying back upon graduation and all together it only amounts to about 40K for the entire degree - which I think is fair)

 

[Jabbed]

I would think that elementary school teachers with 150k is much more rare though than a resident with 300k+ in loans.

That was more of an anecdotal number, I knew a few teachers from my (private) undergrad who are saddled with that much in loans. I didn't mean to misrepresent it as the norm.

 

[DermViser]

Yup just look at the AAMC fact sheet for premed debt.

Undergrads with 150k are by far the exception

Correct. Most people who go to medical school try to keep their undergraduate portion as low as possible. I didn't know anyone coming in with 150K of debt from college, of course most of our parents paid for our college tuition (whatever wasn't covered by scholarships and grants).

 

[DermViser]

That was more of an anecdotal number, I knew a few teachers from my (private) undergrad who are saddled with that much in loans. I didn't mean to misrepresent it as the norm.

Yeah, it's anecdotal for a reason. In their cases, it was a clear choice made. Of course, I guess one could say the same for attending medical school as well.