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
-
- Practice the six rights of medication administration
- Differentiate between types of wound debridement
- What to include on the incident report
- Code diagnoses and outpatient treatment for PTSD
- OB services: Coding inside and outside of the package
- Nursing responsibilities for managing pain
- Note similarities and differences between HCPCS, CPT® codes
- Know guidelines and subtle differences in code descriptions for laceration repairs
- Don’t forget the three checks in medication administration
- Suicide risk NPSG requirements clarified
- E-mailed
-
- Q/A: Correctly report port flush
- Q/A: Correct use of modifier -PT
- NFPA 10 sets rules for mounting fire extinguishers
- Key elements of a bowel training program
- How to assign the correct ED E/M code
- Ensuring an Effective & Efficient Triple Check Process
- Correctly code for obstetric/maternity services provided during various stages of delivery
- Cohesive History and Physical Requirements
- Coding Corner: Tips for reporting bronchoscopy procedures
- Code 97602 includes wound assessment
- Searched
