<p>Mike:</p>
<p>I am curious, if you know, how common is it for employers to pick some, or all of a new MD's student loan debt? I would imagine it happens more in instances of under-staffed, high-needed specialties, but I still do not know how common the practice is.</p>
<p>BTW, my son loves med school.</p>
<p>You know, I have no idea whatsoever. I've never heard of the practice, but it's been mentioned a few times by credible sources on these boards. I'm so many years away from that that it's not really on my mind at the moment.</p>
<p>Glad to hear he likes it. =)</p>
<p>Thanks, I have heard of it as well, but do not know how prevalent it is either.</p>
<p>Keep in mind that money is fungible. So an employer paying off debt is the same as paying more money, signing bonus, etc. There are some federal programs paying off med school loans for people in research, where they will face years of lower income compared to practice.</p>
<p>"My dad makes 65k and he brings home 50k/year "</p>
<p>Man! I want HIS tax preparer! I work part time, collect about $126k GROSS, and pay $48k in various taxes IF I can afford to deduct $6K towards my retirement first. I pay more taxes if I can't use retirement funds as a deduction. Granted, I make some career choices that affect my income, for the sake of me and my families satisfaction.</p>
<p>I know one anesthesiologist who makes between $400K-$350K and can't pay off $110K debt. He has no house or mortgage and has been making this salary for at least 2-3 years. Go easy on debt.</p>