@ang331, I believe BA/MD students can now participate, if they want to, in both graduation ceremonies. The undergraduate degree ceremony usually happens earlier in the month of May for the end of the semester. The MD graduation ceremony happens at the end of the month of May.
I think debt is a very personal and individual thing. If your parents are paying in cash on hand for your education entirely, then officially, you have zero debt to report at the end of med school. Why? Bc your parents paid cash! This can then skew the average numbers a lot. You can see statistics (October 2014) here though on the debt medical students are coming out with now from the AAMC: https://www.aamc.org/download/152968/data/debtfactcard.pdf
You can see this as well: https://www.aamc.org/download/328322/data/statedebtreport.pdf. Interesting to note that if you divide up family income into quintiles - 50% of all medical students now come from families, whose income is above $100,241. (Table 7). The charts are very interesting if you have time to look at them. If it tells you anything of how old I am (lol), when I started, med school tuition at UMKC was $20,793 for in-state, $41,376 for out-of-state.
I think early on debt won’t influence you when you’re studying for classes. You’re young, enthusiastic, and are just starting out. It starts more to have an influence as you progress and when you get more towards the clinical side and you’ve been amassing a lot of debt. You’ll start thinking more about your life, possibly getting married, maybe starting a family, etc. You might be thinking about number of years of residency commitment, whether you want to do an additional fellowship beyond the residency you’re in, lifestyle in terms of hours worked, whether you’re ok with being on call, etc. So no, you really don’t have to be concerned as a Year 1 about residency positions to apply to. That being said, if you’re wanting to go into something competitive, you will have to work harder and do better than you would if you’re going for something not as competitive. It’s always good to leave doors open initially, rather than closing doors initially and then wanting to open them back up later. But to answer your question somewhat, I do think debt has an influence on medical students more than we’d like to admit.
Same with paying off your student debt - also a personalized or individual decision. I believe there are loan repayment programs (IBR or PAYE) where you pay it off over a period of 25 years but these can easily change. For example, it used to be you could take Stafford grad loans and not be charged interest as long as you were enrolled in medical school. That is no longer an option: http://www.usnews.com/education/best-graduate-schools/paying/articles/2012/03/13/grad-students-to-lose-federal-loan-subsidy
Remember by the time you graduate and you’ll be 24/25, you will have many other expenses and priorities in your life you’ll be taking care of. By the time you graduate residency, you’ll have delayed gratification for so long, I guarantee you won’t be paying all of your student loans in 5 years, although you definitely probably could if you were quite frugal. I don’t recommend it bc I guarantee once you’ve been living hand to mouth (http://idioms.thefreedictionary.com/live+hand+to+mouth) in residency, you will want to finally live life.