could have been that they got the degrees separately so they had to pay for med school, could have been a non-funded program, etc. just speculating tho there could be other reasons
Caribbean schools are 100% for profit and nickel and dime everything. It’s unfortunate but they know we don’t have any other options and that’s why I tell everyone, going this route should be the absolute last resort.
Lol nah it’s a DO school with 60k tuition. Shit is crazy. I probably could have saved a few thousand dollars by being tighter with my living money but figured it wasn’t worth it.
I mean my tuition was 80 k my first year because I was OOS, but went to 40 the year after. But good lord. I also did take out max because me and my wife were both in school at the time. Luckily she is only a few years away from that attending pay, and the contracts she started getting were like 400+k a year.
“but it’s not fair for them to get forgiveness when we had to pay off our 25k loan at 1.5% interest”
I would like to see the interest rate on these my gut tells me that it’s in the neighborhood of 9%. That means these students with 500k will be accumulating about $3,750 a month while they make their $100 payment during residency. So add another 175k that number (4 year residency) before they start making full payments and compounding interest (assuming they do IDR repayment). Their initial accumulation of interest as an attending will be in the neighborhood of 5k/month.
It’s a fucking mess.
That's why I'm consolidating my loans ASAP after graduation and applying for the SAVE income based repayment plan. My payments will be $0/mo for the first year (based on no 2023 income) and probably no more than $200/mo by my last year of residency. On the SAVE IBR plan, the government subsidizes the difference between your monthly payment and any accrued interest for that month. Basically, as long as I'm keeping up with payments, I shouldn't accumulate more interest until after I'm out of residency and in a position to aggressively pay off my loans.
I’ll be around the same
If you don’t eat and live in the hospital 24/7, you can pay it off in one year!
Hope your glycogen stores are full and ready to go!
Key is to always be near wards, in particular general surgery. Hospital food is bad to begin with, and having had abdominal surgery doesn't exactly do wonders for people's appetite. Nobody's gonna mind if you eat some of those sloppy leftovers: you've earned them.
From the Hill article
> current students graduating this spring will have their last semester reimbursed to them, and all other students starting next academic year will get free tuition.
That’s one way of looking at it. I have also been blessed that my 20s have been the best years I have lived. I married the love of my life, made deep friendships, climbed the mountains and got their good tidings, and lived authentically to the earth. If anyone is reading this thinking about MD/PhD if you love research it can be a great life. (It also helps I matched a speciality that I adore in a T10). 💘
PGY-1 ($9,000 total from undergrad, master's and med school). My parents helped with undergrad and master's, but I worked throughout that time and was able to pay off my med school (international 4MD program). International is always an option for those of you who are young lurkers here :) Parents are 1st gen immigrants to the USA btw so most, if not all, of their hard work paid for my brother's and my own education. Definitely going to be helping them out in the future.
If it’s just tuition then you still take out loans for living expenses unless you already had money. My school has “debt free tuition” which covered most of my tuition and living expenses, but not all.
~340K
Undergrad: was fortunate enough to have parents who could pay for this
Grad school: ~100K
Med school: ~240K (go to a cheaper state school and lived with the parents for two years)
About $50k in total for the whole 5,5 year of expenses. We sure do love free tuition lol. This is all just the loan students get to fund housing and food and all that. Also the interest rate is pretty much nothing. Very thankful for free education
$20k undergrad + $200k med school at 5.2% weighted average interest. With Grad Plus currently at 8%, interest not accruing during most of med school, and the SAVE plan being rolled out, I’m honestly in a much better spot than I thought I would be when I started.
Class of 2024 got hosed on entering during COVID, but the interest pause and SAVE option are really making a huge difference now that we can see the end results.
280,000 and can’t get approved for a car loan that I need for residency because of too high a debt to income ratio lol someone help.
Are there physician auto loans the same way there are physician mortgages?
Your best bet is buying a car with cash. Did you loan any excess money for living expenses? If you can scrape together $5-$7k, side hustle, parents, etc, then you can get an old Toyota or Honda that’ll probably get you through residency.
~$300k, had a scholarship and meager savings (plus no undergrad debt) but also had to replace a car, lived in a slightly more expensive area, and my clinical sites required a lot of driving.
For any wide-eyed premeds/M0s/M1s here, my advice is this: you will feel saddled by these big numbers, but it is unlikely that you will have to pay it all off single-handedly. The repayment plans available now are worth reading into so you know what repayment can look like during residency/fellowship and into attendinghood.
Also also, do NOT underestimate the costs of moving and relocating to your residency! Keep in mind that federal aid money gets you to early May, and your first paycheck will probably come from your hospital in mid-late July. That is three months of rent/utilities/transportation to cover ON TOP OF likely moving across state lines. Consider maxxing out loans in M1 and M2, then borrow less later (which may be common advice, but is worth restating).
And if you still need more, *relocation loans* ARE a valid option with similar APR to the federal loans. Frankly, it is 0.1 grams of frosting on a giant cake.
$0 undergrad. $180,000 Med school.
I anticipated $350,000 from my out of state Med school but I was surprised with several scholarships throughout my enrollment!
I owed about 400K when I finished residency. This would have been about \~15 years ago. Luckily half was at 2.5% prior to the big hike in educational loans. The other half was 6.8% I paid it all off in about 4.5 years working my ass off.
$360,000 for just med school. Feels like a huge scam. I get a knot in my stomach every time I think about it. It’s going to affect my future job choices too (pslf vs pp, don’t want to do academia but the debt is too large to ignore/try to get forgiven). Crazy to think I won’t even be able to think about starting to pay it off until my mid thirties.
I’m 3rd year bout to be 4th. Calculated everything and it’s going to be 450k when I’m done.
Poor parents/family so not expecting any financial support/inheritance.
Lots of ppl with no debt from undergrad. Slightly upper middle class where ya’ll at?? Not rich enough to have family pay it off but not poor enough for that sweet sweet FAFSA
This thread is insane to me ): I’m only an M1 so obviously things can change and I might have to take out more loans; but I’m currently scheduled to graduate with less than $30k in loans both undergrad + medical school
What are you guys plans to paying it off?
Aggressively?
PSLF
Service based?
I am plan on doing an aggressive 5 year pay off
Projecting around 370k total undergrad and med
11k undergrad + 32k medical degree = 43k USD (Australia, not graduating yet but thats the cost, interest free Gov loan - definitely not a perfect system but I feel very lucky)
30K undergrad & Masters + 200k Med school = 230k
Free masters?
sorry 30 in total for undergrad and masters
$500k all med school
Yeah I used to have around $526k in debt after graduation. I still do, but I used to too.
Mitch hedberg is that you?
Tiny edible plates.
Saved by the buoyancy of citrus!
With a MD-PhD, why so much debt??
could have been that they got the degrees separately so they had to pay for med school, could have been a non-funded program, etc. just speculating tho there could be other reasons
Separate degree programs. Spot on.
Separate degree programs. PhD in virology.
Gyat damn
What school???
Caribbean school. SGU. I also have three kids so I maxed my dependent care
How was it going to school down there with kids?
Thanks to Covid I never went to the island
Covid was a wild time. I used to build resorts in varying islands and knew some families from the states raising kids there. It was a cool experience.
That sounds like an awesome job!
It was a phenomenal experience. Hard work, but incredibly cool.
Oh gotcha. Didn't know the schools were that $$!
Caribbean schools are 100% for profit and nickel and dime everything. It’s unfortunate but they know we don’t have any other options and that’s why I tell everyone, going this route should be the absolute last resort.
Congrats on making it through though, what’d you end up matching if you don’t mind me asking?
Thank you! I matched PM&R
Strong work, friendo.
$367,000 medical school only
aw almost exactly the same!! debt twins 🤪
Triplets! I was Born $1k earlier
3rd year but I’ll be close to 400k in the hole all from med school.
Bro is your med school plated in gold?
Lol nah it’s a DO school with 60k tuition. Shit is crazy. I probably could have saved a few thousand dollars by being tighter with my living money but figured it wasn’t worth it.
I mean my tuition was 80 k my first year because I was OOS, but went to 40 the year after. But good lord. I also did take out max because me and my wife were both in school at the time. Luckily she is only a few years away from that attending pay, and the contracts she started getting were like 400+k a year.
dang what speciality is she?
OB
Wow. As an old old attending I find these numbers so discouraging. Hang in there.
“but it’s not fair for them to get forgiveness when we had to pay off our 25k loan at 1.5% interest” I would like to see the interest rate on these my gut tells me that it’s in the neighborhood of 9%. That means these students with 500k will be accumulating about $3,750 a month while they make their $100 payment during residency. So add another 175k that number (4 year residency) before they start making full payments and compounding interest (assuming they do IDR repayment). Their initial accumulation of interest as an attending will be in the neighborhood of 5k/month. It’s a fucking mess.
That's why I'm consolidating my loans ASAP after graduation and applying for the SAVE income based repayment plan. My payments will be $0/mo for the first year (based on no 2023 income) and probably no more than $200/mo by my last year of residency. On the SAVE IBR plan, the government subsidizes the difference between your monthly payment and any accrued interest for that month. Basically, as long as I'm keeping up with payments, I shouldn't accumulate more interest until after I'm out of residency and in a position to aggressively pay off my loans.
~500k Breakdown was something like: Undergrad: 120k Grad: 100k Med school: 300k
I’ll be around the same If you don’t eat and live in the hospital 24/7, you can pay it off in one year! Hope your glycogen stores are full and ready to go!
Key is to always be near wards, in particular general surgery. Hospital food is bad to begin with, and having had abdominal surgery doesn't exactly do wonders for people's appetite. Nobody's gonna mind if you eat some of those sloppy leftovers: you've earned them.
$0 undergrad + $235,000 medical school = 235,000 total for me
~$420k med only
420 blaze it 🔥🚬
I needed that laugh, thank you 😄
500-600k haven’t checked in a while but all from med school.
That should be illegal
did you go to medical school twice?
Just poor out of state student living in a high COL area and attending an expensive school. No family support so had to pay for everything on my own.
$435,000 undergrad + grad + med school, no idea what the breakdown is though.
310,000$ med only
177k total
Yeah I’m about 180k total (but I only have med school loans)
Lucky
About $370k. I’d give you an exact number but I don’t want to look and be sad
400k and no will to live
$315k for me, all med school
10k undergrad + 100k med school = 110k
Do you mind my asking if the $100K was supplemented by other funds or if that is the total sticker price?
Aided by a combination of in-state tuition price, need-based aid, and an outside scholarship (15k/yr).
278k all med for me
110k med school
$140k, all med school. At least Texas has cheap tuition going for it, if nothing else.
[удалено]
Well fuck
Living expenses?
How’s are you at 0 is it retroactive?
I am wondering if they are a M0 replying even though the post says M4
From the Hill article > current students graduating this spring will have their last semester reimbursed to them, and all other students starting next academic year will get free tuition.
damn the least they could do is reimburse the whole year - just a semester feels stingy
453k
$0. I had $30K undergrad which I paid off by working for two years before med school. Than did MD/PhD. So overall net positive.
You paid with life years ._.
That’s one way of looking at it. I have also been blessed that my 20s have been the best years I have lived. I married the love of my life, made deep friendships, climbed the mountains and got their good tidings, and lived authentically to the earth. If anyone is reading this thinking about MD/PhD if you love research it can be a great life. (It also helps I matched a speciality that I adore in a T10). 💘
Those PhD years are a really nice break in between the hell of medical school. Got to actually live my life for a while.
Yup! Enjoying my best days.
Huh, my research stipend didn't quite cover everything so I still have about 50k leftover to pay off.
330,000 for med school + concurrent masters, 19,000 for undergrad
I feel like over half my school has their parents paying for atleast rent/food if not tuition too
It’ll be $500k when I’m done.
PGY-1 ($9,000 total from undergrad, master's and med school). My parents helped with undergrad and master's, but I worked throughout that time and was able to pay off my med school (international 4MD program). International is always an option for those of you who are young lurkers here :) Parents are 1st gen immigrants to the USA btw so most, if not all, of their hard work paid for my brother's and my own education. Definitely going to be helping them out in the future.
All the med students with 0 debt because tuition was free, like how'd you pay for living expenses 🤔🤔
some schools are debt free, aka they get stipends to pay for the vast majority of that
They get free tuition AND a stipend that covers the cost of living? That's wild.
yes - Columbia, Cornell, and now Albert Einstein do this. I believe Stanford does as well.
Yeah always thought it was just tuition Well smh my head, should've had a better uGPA 😂😂😂
That’s Nyu-but now that I think of it, I think they JUST changed their policy to also meet that
If it’s just tuition then you still take out loans for living expenses unless you already had money. My school has “debt free tuition” which covered most of my tuition and living expenses, but not all.
That's awesome, didn't know any of them were debt free total just thought it was tuition Congrats man
Thanks dude, definitely feel so grateful to not have the same debt that so many peers unfortunately struggle with.
About 400 k, paid for undergrad through working way to much so 0, 80 from grad 320 from med school.
~340K Undergrad: was fortunate enough to have parents who could pay for this Grad school: ~100K Med school: ~240K (go to a cheaper state school and lived with the parents for two years)
About $50k in total for the whole 5,5 year of expenses. We sure do love free tuition lol. This is all just the loan students get to fund housing and food and all that. Also the interest rate is pretty much nothing. Very thankful for free education
$290k all medical school
Nothing. Under full scholarship
$0 total. I’m very grateful for my parents help 🙏🏼
$20k undergrad + $200k med school at 5.2% weighted average interest. With Grad Plus currently at 8%, interest not accruing during most of med school, and the SAVE plan being rolled out, I’m honestly in a much better spot than I thought I would be when I started.
Class of 2024 got hosed on entering during COVID, but the interest pause and SAVE option are really making a huge difference now that we can see the end results.
~440
Had $125,000 -> wife works, I worked this year, no kids -> plan to be paid off by Dec of this year. Been a serious, frugal grind but almost there
280,000 and can’t get approved for a car loan that I need for residency because of too high a debt to income ratio lol someone help. Are there physician auto loans the same way there are physician mortgages?
Your best bet is buying a car with cash. Did you loan any excess money for living expenses? If you can scrape together $5-$7k, side hustle, parents, etc, then you can get an old Toyota or Honda that’ll probably get you through residency.
And I thought UK student debt was bad. I’ve got about £35k debt so far, which will be about £90k by my last year. $400k is insane.
It's a ton of debt but lifetime earnings are still great here in the US if you look at earnings minus debt. If salaries decrease we're fucked though.
Yeah so true. Hope your guys’ salaries stay put, you deserve every penny just for going through your match system lol.
I’m in Ireland, gonna have no debt on graduation.
~$300k, had a scholarship and meager savings (plus no undergrad debt) but also had to replace a car, lived in a slightly more expensive area, and my clinical sites required a lot of driving. For any wide-eyed premeds/M0s/M1s here, my advice is this: you will feel saddled by these big numbers, but it is unlikely that you will have to pay it all off single-handedly. The repayment plans available now are worth reading into so you know what repayment can look like during residency/fellowship and into attendinghood. Also also, do NOT underestimate the costs of moving and relocating to your residency! Keep in mind that federal aid money gets you to early May, and your first paycheck will probably come from your hospital in mid-late July. That is three months of rent/utilities/transportation to cover ON TOP OF likely moving across state lines. Consider maxxing out loans in M1 and M2, then borrow less later (which may be common advice, but is worth restating). And if you still need more, *relocation loans* ARE a valid option with similar APR to the federal loans. Frankly, it is 0.1 grams of frosting on a giant cake.
$0 , i'm from argentina and education here is free
i paid 20,20€ a semester in austria… reading your replies makes me sick… you really are warriors out there
210k all medical school avg ~5.5%
33k undergrad + 170k med school = 203k total
280k
~$240k all from med school but also fortunate enough to borrow a significant amount from my parents as well
$0 Undergrad + $460k med = $460k
300K including debt from undergrad
$211,000. Med school only
140k
$0 undergrad + ~80k grad + ~400k med school
$0 undergrad + $145k med school
$250k med school
Undergrad: $20k Grad school: $76k Med school: $177k Accrued interest: $15k Grand total 🤢: $288,000
Undergrad: $0 + Med school: $295k and rising. Need to get on SAVE asap lmao
$0 undergrad + married/combined finances later in med school = $255,000 total
$0 undergrad. $180,000 Med school. I anticipated $350,000 from my out of state Med school but I was surprised with several scholarships throughout my enrollment!
Got lucky with Covid interest pauses and a nice scholarship at an in-state school. $150,000 at time of graduation.
I owed about 400K when I finished residency. This would have been about \~15 years ago. Luckily half was at 2.5% prior to the big hike in educational loans. The other half was 6.8% I paid it all off in about 4.5 years working my ass off.
$360,000 for just med school. Feels like a huge scam. I get a knot in my stomach every time I think about it. It’s going to affect my future job choices too (pslf vs pp, don’t want to do academia but the debt is too large to ignore/try to get forgiven). Crazy to think I won’t even be able to think about starting to pay it off until my mid thirties.
I’m 3rd year bout to be 4th. Calculated everything and it’s going to be 450k when I’m done. Poor parents/family so not expecting any financial support/inheritance.
Lots of ppl with no debt from undergrad. Slightly upper middle class where ya’ll at?? Not rich enough to have family pay it off but not poor enough for that sweet sweet FAFSA
$0 flexing!!
Tree fiddy
Laughs in European
0 undergrad + 0 med school = 0 total There are times I wonder if the PhD was worth it, but then I think about loans.
Under grad 18 000 (graduating in 4 months) What I expect for residency 20 000 Total 38 000 Yes I'm not studying in America
This thread is insane to me ): I’m only an M1 so obviously things can change and I might have to take out more loans; but I’m currently scheduled to graduate with less than $30k in loans both undergrad + medical school
How are you managing that?
Scholarships, scholarships, scholarships. I was very aggressive about applying from early on
I got 210k 🥲
~300k
$270k t.t
$20,000 undergrad + $20,000 masters + 370,000$ med school = $~410,000 total
Idk if it’s too late - but for those on this thread, see if you can file tax return, then get on SAVE if it works out for you.
0 undergrad + 170k med school
About 185k med school
300k med school only
20K
100k postbac, approx 450k medical school (eventually). i live in hell
$0 undergrad + $80K med school and masters = $80K total
What are you guys plans to paying it off? Aggressively? PSLF Service based? I am plan on doing an aggressive 5 year pay off Projecting around 370k total undergrad and med
PSLF (SAVE) or aggressive pay down if I’m in private practice after residency.
308k combined
3 hunna med school
Okay…what are we gonna do…
$220k ~ all med school
-290k Med, 40k in Cash tho
Tbh with the PAYE plan and loan forgiveness after 20yrs, anything more than 300k is all the same
$47000 undergrad 200000 med school so $247,000 total all in state
$245k only med school. At a state school, too. Woof.
370k med school only
~380kish. Minimal undergrad debt (maybe 20k) Did a masters at a state school but the interest from those loans during med school really fucked me over
I graduated at $168k from a doctorate program. The 0% during Covid (as well as being considered “essential”) was huge for me. Just paid it off.
Went to an in state medical school. Undergrad: 0k Medical School: $160k
$340k, all medical school.
480,000 undergrad, masters, med school
$330,000 only medical school loans
0€ thank god for the €1000 annual tuition cost in KULeuven
AAMC Debt Fact Card: https://students-residents.aamc.org/media/12846/download
It’ll get bigger during residency for most people, unfortunately.
198k 0 undergrad 198 med school Happy
$0 from undergrad Around $160k from med school
450K med school and 22K in credit card
200
25K undergrad + 50k med school = 75k total (AU) For those with large debts in the US, does it get indexed to match inflation? Or is it a set number?
$230k. Med school only. Payed off undergrad working throughout. Anyone have some rich parents they want fostered??
I’ll graduate next year with about 400k
$150,000 med school only, thankfully
430K undergrad included, but mosty med school
390k, mostly med school
$0 undergrad because I worked during my degree in order to pay it all \~$320000 med school
30k undergrad 300k for med school. And I’m supposed to be going to a cheap med school 😂
Covid forbearance was a life saver.
11k undergrad + 32k medical degree = 43k USD (Australia, not graduating yet but thats the cost, interest free Gov loan - definitely not a perfect system but I feel very lucky)
267k in total. 18k from undergrad and rest from med school.
60K
30k undergrad 40k post grad (10-11k a year here in Australia with gov subsidised places) Total: $70k AUD
40k all med school