Statistics show that more than 50% of medical students are in debt after completing medical school. I'm very passionate about becoming a doctor but I'm terrified about how to overcome money problems. I was thinking about obtaining a part time job but won't that be hard juggling work and very grueling schoolwork? any suggestions ?
2007-03-27 18:21:24 · 3 answers · asked by katlova92 2 in Education & Reference ➔ Higher Education (University +)
Doctors make $80K and up. $100K+ is quite normal. You'll be able to swing your loan payments. Don't worry. Just consolidate and you'll be fine.
My wife has about $100K in debt and her monthly payments are about $425/mo. When you make $100K, that's about $6000 a month after taxes. $425 out of $6000 is not that big a deal.
2007-03-27 20:11:57 · answer #1 · answered by Linkin 7 · 1⤊ 0⤋
You are right to have some misgivings about going $150,000 or more into debt. There are a lot of paths to practicing medicine other than an M.D. program. OK you won't earn quite as much BUT you won't spend any where near as much. (and you won't be as likely to get sued or spend half your salary for malpractice insurance.....)
Have you looked into a 4 year degree inthe sciences toward becoming a Physicians Assistant? They can diagnose and prescribe meds and treatment. Also Nurse Practitioners can see patients independently and diagnose , treat and prescribe. You can still specialize in a specific part of medicine you are interested in.
I am a Family Nurse Pracitioner who first got an LPN in One year. Then I worked part time at great paying nurse jobs while getting my 2 yr ....then 4 yr.... then Masters degree in Nursing. My school debt is quite small and manageable compared to an M.D. Nurse Practitioners where I live make $30 to $45 dollars, or more, per hour depending upon speciality. Not too shabby !
2007-03-28 01:41:03 · answer #2 · answered by morgorm 3 · 0⤊ 0⤋
The type of schedule required to be a medical student does not really allow time for a job. Most are in debt because they take out loans to pay for school. Upon completion of med school you will have the salary needed to pay off those loans, so in the end it is worth it. One option is working for a few years before going to school and saving up to pay some of the expenses.
2007-03-28 01:38:54 · answer #3 · answered by e26.2 2 · 0⤊ 0⤋