Medical school debt outpacing cost of living increases
Residency Program Insider, May 20, 2016
Want to receive articles like this one in your inbox? Subscribe to Residency Program Insider!
The average medical school debt for emergency medicine residents is $212,000, which is about 25% higher than the average mortgage in the United States, according to a study published in the Annals of Emergency Medicine. Researchers conducted in-depth interviews with emergency medicine residents in California and found that 73% had more than $150,000 in debt. In 2001, less than 20% had $150,000 or more in debt.
The researchers found that residents’ career and life decisions were influenced by their amount of debt, which also caused them persistent stress. Most residents in the study were taking advantage of some form of debt repayment delay. Without the delay, residents would be required to allocate about 37% of their gross pay to debt repayment.
Source: Becker’s Hospital Review
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
-
- Coding, billing, and documentation tips for teaching physicians, interns, residents, and students
- Don't forget the three checks in medication administration
- Practice the six rights of medication administration
- Code diagnoses and outpatient treatment for PTSD
- Note similarities and differences between HCPCS, CPT® codes
- Complications from immobility by body system
- What to include on the incident report
- Q&A: Primary, principal, and secondary diagnoses
- OB services: Coding inside and outside of the package
- Differentiate between types of wound debridement
- E-mailed
-
- Q&A: CDI staff assigning DRGs
- What keeps black women nurses out of leadership roles?
- Q&A: Coding drug administration for observation patients
- Q&A: Are colleges sending students to our facility for rotations business associates?
- Hourly rounding improves patient safety, reduces call-light use
- Coding Corner: Tips for reporting bronchoscopy procedures
- Coding Clinic reiterates guidelines for provider documentation
- Searched
