Why isn't this being discussed more?

Discussion in 'Financial Aid' started by penguinophile, Jun 19, 2008.

  1. penguinophile

    penguinophile MetalHead
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    Am I missing something, or is this a big deal?
    http://www.ama-assn.org/amednews/2008/06/16/prsb0616.htm

     
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  3. Sol Rosenberg

    Sol Rosenberg Long Live the New Flesh!
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    You are a year (OK, maybe just some months) too late -- this is old news. Do a search, and you will find several threads on the topic. Yes, it is a big deal.
     
  4. penguinophile

    penguinophile MetalHead
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    Oops...well, I suppose that's what I get for reading AMA news...:oops:
     
  5. 87138

    87138 Guest

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    Great. I'm taking out $250,000+. I'm ****ed.
     
  6. coldweatherblue

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    Yeah I remember reading this about a year ago and feeling a sinking feeling in my stomach but overall there's really nothing I can do about it other than sign some petition and voice my opinion to random people. It sucks but it's not gonna make me stop pursuing medicine so I'll just try not to think about it.

    However I would like to know the circumstances under which this bill was passed. Maybe some congressman woke up one day and thought, "Doctor are perceived as rich; they get government money and don't have to start paying back until four years after they graduate. No one will mind if we make them pay it back sooner and it will save a little money. I'll write up a bill and make some speech and it'll be cool... etc". Thus we become screwed.
     
  7. TheRealMD

    TheRealMD "The Mac Guy"

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    Can someone tell me the difference between deferment and forbearance? I'm guessing the government still pays interest on your subsidized loans or something otherwise they sound exactly the same to me.
     
  8. moe_4eva

    moe_4eva doprepd on my haed

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    I know it's old, but I guess I didn't read through this thoroughly. I'm particularly curious about the whole debt forgiveness program provision. That would definitely influence which specialties I'd consider if they gave that to PCPs.
     
  9. doc20

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    yeah you are right
    forbearance we pay interest
     
  10. ACSurgeon

    ACSurgeon Acute Care Surgeon
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    Have you looked at you med school loans? Aren't they like 85% or more unsubsidized? I guess not having to payback undergrad loans is nice...

    On another note, there was talk about an alternative to the 20/220 rule... something like a 15/150 rule that was in the works? I remember reading about it on SDN when this was first discussed a few months ago. Thoughts?
     
  11. Sol Rosenberg

    Sol Rosenberg Long Live the New Flesh!
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    There are still benefits to deferring unsubsidized loans, since interest is capitalized, rather than compounded, before the loan enters repayment (i.e. is in deferment.)
     
  12. mmcnam

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    I'm a little new to all of this because I'm starting school in a few weeks, but does this mean that my loan repayment begins in right after graduation? I could have sworn this wasn't mentioned in my financial aid talks at interviews...
     
  13. Sol Rosenberg

    Sol Rosenberg Long Live the New Flesh!
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    Yes, repayment begins right after you graduate. You may still apply for forbearance, which will get you out of making monthly payments that you presumably can't afford, but the juice is still running during that period of time (unlike deferment.)
     
  14. rgerwin

    rgerwin Senior Member

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    There should be a 6 month grace period.
     
  15. Guile

    Guile 1K Member

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    Yeah, this is a huge deal. It can't get talked about enough, IMHO, so it's good that it's been brought up again.

    I urge you guys to contact your Congressmen. Here's a link you can use to contact them through the AAMC:

    http://capwiz.com/aamc/issues/alert/?alertid=11186091&PROCESS=Take+Action

    They ask you for your address, but that's only to locate the Congressmen and Senators for whom you're a constituent (and due to gerrymandering, zip codes aren't enough anymore). This is legit though, and you don't have to register or anything. They're not going to sell your address. Capwiz handles Congressional communication for a multitude of organizations. I've used it often and have never heard from them (no spam, etc.).
     

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