Forgive Student Loans?

#826
#826
newyorkvol said:
With medical school it’s even less about “victim” or “stupid” and more about personal wants

There is always a shortage of primary care doctors. There are severely underserved areas in this country. There are ways to get medical school paid for and serve in one of these areas for 4-5 years and then be able to go practice wherever you desire free or nearly free of debt.

But instead, many Med students don’t “want” to do that. They want to go where they want to go and practice whatever specialty they want to practice. Which is fine if they also realize that decision comes at a cost as well. The cost is often hundreds of thousands in loans paid off over 30 or more years.
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Being an advanced practitioner of any kind isn’t worth the payoff it once was 30-40 years ago… which is a shame because we need the manpower to care for the baby boomers right now.
 
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#827
#827
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#828
#828
newyorkvol said:
It’s because there are ways to have medical school paid for, but they require some form of service commitment. Those methods of payment are available to any medical student, but relatively few take advantage because it sometimes require 4-5 years of service after residency to fulfill the obligation.
So, those that decide they do not want to exchange free or low cost medical school for a service obligation can take loans and be free to do what they want, where they want. But that comes at a cost too. It’s called student loan repayment.
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Please share what your data of all these loan relief programs as I’ve got a family member who’s in their 4th year of med school and we are unfamiliar with these programs. TIA
 
#830
#830
walkenvol said:
Please share what your data of all these loan relief programs as I’ve got a family member who’s in their 4th year of med school and we are unfamiliar with these programs. TIA
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One of the more common ones is the Health Profession Scholarship program. It’s a federal program that pays tuition and living stipend for four year MD or DO schools. Service obligation is through Army, Navy, Air Force, or the Public Health Service Corp (provides mostly primary care services to inner city and rural areas and Native Americans). Additionally, many hospitals in high need areas will contract with medical students and pay for their medical school and living stipend for a 4 or 5 year contractual obligation to the hospital after residency. Ironically, many of those funds come from federal monies. I’m not sure exactly how to find those other than word of mouth, cold calling hospitals, or potentially through a head hunting service.

I’ve disclosed on here before that I went to UT with tuition paid by enlisting in the TN Army National Guard and then went to medical school on a Health Profession Scholarship. Did my residency in the Army and then served 4 years active duty. Now I’m in private practice in NY and didn’t have one dime of debt from undergrad or medical school.

For those already in medical school, there are also loan repayment programs through military reserves and active duty. I’m not sure if the PHSC offers the loan repayment option though. And, many hospital based employment opportunities come with a certain amount of loan repayment that can be negotiated as well.
 
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#831
#831
OHvol40 said:
Being an advanced practitioner of any kind isn’t worth the payoff it once was 30-40 years ago… which is a shame because we need the manpower to care for the baby boomers right now.
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So what do you see as a solution?
 
#832
#832
walkenvol said:
Please share what your data of all these loan relief programs as I’ve got a family member who’s in their 4th year of med school and we are unfamiliar with these programs. TIA
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When I was in my first squadron in the Navy, our flight surgeon was a brand new doctor. I hadn't seen him in a number of years until we were both out of the Navy, and the last I knew he was the chief of critical care oncology at Johns Hopkins in Baltimore. Pretty sure he wasnt up to his eyeballs in debt because he got his school paid for and all it cost him were a few years of service in the Navy. Was direct commissioned as an O3... got great exposure to many things that his contemporaries didn't... and went on to bigger things.

My cousin married a pediatrician who got his training paid for by the US Army. Spent a tour in Iraq as a trauma doc. He could probably be running things in Shitcago, but he likes treating little kids in rural Kansas. No med school debt.

Young people only seem to see dollar signs as coming at them and for whatever reason don't realize that those skills are not just handed to you because you are you. I think you get where I am going.
 
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#833
#833
newyorkvol said:
One of the more common ones is the Health Profession Scholarship program. It’s a federal program that pays tuition and living stipend for four year MD or DO schools. Service obligation is through Army, Navy, Air Force, or the Public Health Service Corp (provides mostly primary care services to inner city and rural areas and Native Americans). Additionally, many hospitals in high need areas will contract with medical students and pay for their medical school and living stipend for a 4 or 5 year contractual obligation to the hospital after residency. Ironically, many of those funds come from federal monies. I’m not sure exactly how to find those other than word of mouth, cold calling hospitals, or potentially through a head hunting service.

I’ve disclosed on here before that I went to UT with tuition paid by the TN Army National Guard and then went to medical school on a Health Profession Scholarship. Did my residency in the Army and then served 4 years active duty. Now I’m in private practice in NY and didn’t have one dime of debt from undergrad or medical school.

For those already in medical school, there are also loan repayment programs through military reserves and active duty. I’m not sure if the PHSC offers the loan repayment option though. And, many hospital based employment opportunities come with a certain amount of loan repayment that can be negotiated as well.
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You beat me to it..... and thank you for your service.
 
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#841
#841
Prophetic thread! Now we will see if he just manipulated people for votes.

I don't even think the guy has the authority to do this, but who is going to challenge it?
 
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