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Any medical doctors out there? I've read that most doctors are $500K in the hole when they're all finished with school.
by jimt1234 3y ago
Any medical doctors out there? I've read that most doctors are $500K in the hole when they're all finished with school.
- cwalv 3y agoOnly if they're careless. Also, there are many options for internship and residency that qualify for PSLF, so in the end the total amount may not matter (to them), because it ends up forgiven after 8 +2 years in a non profit or govt hospital.
- qudat 3y agoIt’s the same answer to the question: Is it true most college graduates are $100k in the hole? It highly depends on the context of the individual, but OP is right: 4-year college then 4 years medical school, and then after that years of fellowship. The shocking part isn’t how much they pay, it’s also the opportunity cost of how long they make little to no money. When determining hourly wage, most physicians in training (e.g. residents, fellows) make minimum wage. It’s a decade of training or more where income is severely deferred. There isn’t even a guarantee of an astronomical salary because some specialties do not pay well.
- stevekemp 3y agoMy wife is a medical doctor, (although she got a degree in computer science before switching to medicine), but she's in Finland where education is free, so no debt was required for her. (Yes of course it isn't free, it's paid for by taxes. Taxes get quite high for high-earners such as doctors. So it all evens out.)