Tips for paying off medical student loans
Residency Program Insider, October 30, 2015
Want to receive articles like this one in your inbox? Subscribe to Residency Program Insider!
The average student loan debt for medical school graduates last year was $176,000, according to the American Association of Medical Colleges. Once interest costs are factored in, it can be easy for new physicians to get bogged down with repayments. The following are some strategies to help tackle student loans head on:
• Use signing bonuses to make lump-sum debt payments, which will help reduce interest costs.
• Find positions that help repay medical student loans. Several state-level programs help pay physician loan debts in exchange for practicing in underserved communities.
• Use income-driven repayment and student loan forgiveness options, such as enrolling in the Public Service Loan Forgiveness Program.
Source: The Doctor Weighs In
Want to receive articles like this one in your inbox? Subscribe to Residency Program Insider!
Related Products
-
Residency Program Alert
Residency program managers in all specialties are challenged to effectively manage their programs as accrediting agencies...
-
Residency Program Insider
Residency Program Connection is devoted to bringing residency directors and coordinators expert advice, best practice...
Most Popular
- Articles
-
- Don't forget the three checks in medication administration
- Note similarities and differences between HCPCS, CPT® codes
- Practice the six rights of medication administration
- What to include on the incident report
- Q&A: Primary, principal, and secondary diagnoses
- What does case-mix index mean to you?
- OB services: Coding inside and outside of the package
- Pneumonia with a negative chest x-ray: Clinical diagnoses, physician documentation, and coding guidelines
- Neurological checks for head injuries
- Nursing responsibilities for managing pain
- E-mailed
-
- Coding Clinic reiterates guidelines for provider documentation
- Practice the six rights of medication administration
- Know the medical gas cylinder storage requirements
- Implementing a just culture in the nursing unit
- How inpatient-only procedures apply to CAHs
- Do residents need to be credentialed?
- Coding tip: Learn the difference between nasopharyngoscopy and endoscopy procedures
- Clinically Speaking: Check CDI efforts related to functional quadriplegia
- Clinical Corner: Revisiting respiratory failure
- Can non-privileged providers order outpatient tests?
- Searched
