<p>Lets talk about this 200-300k/year. Is that at any hospital? Does the market significantly change wage wise based on region? Is that after malpractice insurance? </p>
<p>What does 200k/year net usually? 125K/year? Do the tax implications of student loan payments change this number?</p>
<p>Qwerty, not sure about that as I never missed a payment on my loans and my kid is only a freshman now! But her (direct) Stafford loan paperwork did not have any language about fees other than the $39 origination fee. I think many of the folks that got tens of thousands in fees tacked on dealt with Sallie Mae or other such lenders.</p>
<p>Mr Payne, there are no tax implications for student loan payments at that income level. I believe the cutoff for deducting SL interest is $75K in income.</p>
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<p>I’m not completely sure on some of the fine details of the statistics. It is probably before malpractice insurance, and is pretty much standard across any region. I’ve read articles about family medicine physicians having a difficult time affording a small house in a place like New York or Los Angeles.</p>
<p>The 555,000 loan is really a special case, but the situation regarding Med School loans is worth exploring. Kid is applying to BAMD programs and these can be as short as 6 to 7 years.For the normal route, save as much on your undergraduate as possible ( e.g. state school, scholarships,work-study, community college transfer) and take loan only upon entering med school. If you are bright enough, you pay 10-30% fees at a top-tier Ivy( Harvard for example charge 10% fees if household income up to 180,000) </p>
<p>Average Med School loan was $160,000 for all 4 yrs, depending on family contributions. With US physician pay, you CAN pay it off, but it may defer starting family,etc. Note that with other graduate schools( even law schools) you borrow large loans but may end up with a less-paid job.For pharmacy, pay will be about $80 to 90,000 for a long time but grad school is also 4 yrs. So, overall, Med School is OK rewardwise–that’s why it is so competitive even in a recession.</p>
<p>previous poster said–</p>
<p>I think the lesson here is simple…go to an HBCU! My class was VERY diverse! </p>
<p>question - what is an HBCU?</p>
<p>Historically black college or university.</p>
<p>[List</a> of HBCUs – White House Initiative on Historically Black Colleges and Universities](<a href=“White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity through Historically Black Colleges and Universities | U.S. Department of Education”>White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity through Historically Black Colleges and Universities | U.S. Department of Education)</p>