4 ms·

Also, it's probably helpful to factor in how much debt they're in starting out. My fiancee is in (we're in) >400000 of debt. And as a resident she's effectivel

by sndean 10y ago

Also, it's probably helpful to factor in how much debt they're in starting out. My fiancee is in (we're in) >400000 of debt. And as a resident she's effectively making ~-2 dollars/hour [0], because of the interest rate on that loan, location, and hours. I can't find it immediately, but in a recent MedScape report, some ~5% of physicians are still paying off their med school debt at 60 years old. [0] http://dotphra.se/ http://dotphra.se/

cpfohl 10y ago
Don't forget malpractice insurance. As high as $200k/yr for high risk doctors like obstetricians. That significantly reduces your take home pay.
- Gibbon1 10y ago
  When I read this 25 years ago (insane malpractice insurance for obstetricians) my thought was a good national health insurance program would probably fix that. If the US took better care of families with sick/special needs children they wouldn't have to go after the doctors when stuff goes wrong.
  - cpfohl 10y ago
    I think it's a more complex issue than either medicine, insurance, or the legal system can address alone.
    - Gibbon1 10y ago
      The US which relies on free markets, insurance, and the legal system has worse outcomes than countries that do not.
  - deleted 10y ago
    [deleted]
massysett 10y ago
"some ~5% of physicians are still paying off their med school debt at 60 years old" I bet that for a lot of these physicians it's because the debt has favorable terms, not because it's onerous. I expect to be paying off educational debt well into my fifties. I could pay it off right now, but the rate is below 2 percent, so it's advantageous to carry the debt. In particular, if I die the debt is wiped clean...but if I have already paid it back, my heirs won't get that money back. No reason at all to pay off this debt until I have to.