Not as much as you’d think. Average debt a doctor graduates with is insane too at ~240k/person (sources vary, but that’s the minimum)
Regardless, I’m definitely not in need here or anything.
I doubt it. It as guaranteed as exists once you get a residency spot. Obviously, not 100% though.
I was assuming it was more.
Compare that to the average doctor’s salary and it’s seems like a perfectly fine investment to me.
what is the average salary for a practicing physician? I am going to guess the median isn’t insane, probably like 180-200k? Lots of family practice guys probably grinding it out.
But residency spots aren’t guaranteed. Overall matching rates were down this year. It was 78.5% overall, which is a bit misleading as it includes foreign grads (but a good chunk of those people are still US citizens). US MDs matched at 92.8%. US DOs matched at 89.1%.
It’s a complete disaster if you don’t match honestly. After you match, it’s harder but not impossible for it all to go wrong. The big filter is definitely getting into medical school.
Definitely a good investment for me. The debt does put a real strain on people though and drives people towards higher paying specialties and away from the primary care physicians we really need now. Waiving that debt away won’t fix that obviously, but I would like to see primary care properly funded, even though a good bit of my job security comes from people who can’t get in to see their primary care doctor.
That is exactly why my proposal had this very specific contingency:
well doh, not sure how I missed that sorry
The whole debt thing should be $10,000 now plus a continuing further cancellation or credit and let the Joe M and the republicans take the heat for taking it away.
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It seems like surgeons, cardiologists, anesthesiologists and radiologists make absolute bank, most specialists and ER docs do very well and psychiatrists, family practice, pediatrics, etc. are pretty underpaid considering the cost and duration of training.
I know a fair number of docs who have gotten very wealthy developing and owning medical office buildings.
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Agreed. Which is why I always slip my shrink a ten spot at the end of every office visit.
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My sister voted Biden in the primary because she was afraid Bernie would lose to Trump. She lives with my mom and step-dad who have MSNBC on the TV probably 90% of the time, so it was likely the constant drumbeat of “Bernie’s too socialist to beat Trump” that influenced her vote. I was moderately disgusted to hear her parrot the talking point as justification, but at east she was moderately embarrassed to admit it to me.
What do we do after wiping student loan debt to avoid this happening all over again?
wipe it again but this time make the colleges eat it
Did they? EM got fucked during covid. There were massive layoffs.
A small forgiveness paid out as part of the debtors ongoing payments is probably a good off ramp to the payment suspension. Everybody has a different restart day so Twitter won’t get as frothy.
Mean is higher for sure
Median is probably also higher, getting good data is tough. Most of the free data out there is based on self-reported surveys. Nevertheless, I’d pound the over on 200K median (for full-time work), if there existed a reliable way to determine what it actually was. I’m not saying it a lot higher, but it has to be higher than that.
Making it like ever other type of debt that it gets clear by bankruptcy would be a start. A multi billion dollar operation employing thousands or tens of thousands of people goes into bankruptcy? No big you walk away from that shit whistling. Trying to educate yourself and falling prey to corporate style universities scalping you? You betta die if you want out of this one motherfucker.
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Well, that probably contributes to keeping interest rates on these loans down. If the loans can be discharged in bankruptcy, then the loans become riskier. The lenders will expect to be compensated for the risk by increasing interest rates.
If God wanted you to be a member of the upper class you wouldn’t have been born poor.
Sacrifice a few assistant administrators at each college?
Should be quite obvious I’m not talking about primaries here