So what kind of payment may these new doctors be faced with, assuming a loan amount of $200K and a salary of $45,000…anyone have an idea?
- SomeDaySomeWay Said:
...this is the only logical way I can think of which allows Doctors to treat patients and not allow their emotions to be involved.
NEVER underestimate how much it DOES bother physicians who treat their patients. The emotional toll on a physician who's patient is enduring cancer treatments, or in end stage of life, or diagnosed with other life-threatening diseases, is immense.
However, they have been trained and conditioned to be the calm in the storm for the patient and his/her family. That stone facade you see in the hospital/clinic setting, generally comes down at home.
I know. I've seen both sides.
As for your mother, I'm sorry to hear she has a recurrence of cancer. It cannot be easy on either of you.
FWIW, as the sole caregiver for her, I hope she never sees your own despondence at her diagnosis, and sees rather, the hope that she can conquer it once again.
Krisss, my partner has approximately $100,000 in school loans and after consolidating at a low rate (about 3%), his payments now are about $600/month. I suppose a rough estimate therefore would be about double that amount, or $1200/month. As a parallel, we have a 30 year mortgage of $240K (at a 6% rate) and the monthly payments are about $1350/month. Thus, if you make about $140K/year gross, $1200/month should “only” be just about 10% of your gross. Not perfect, but doable if your income is near the upper average for GPs.
As for deferment, according to my loan provider, you can request a deferment and/or forbearance for internships and residencies, though the rules are a bit tricky as to which you can request and when. There is more information at the US Dept of Education website, specifically here for internships and residencies.
- mojo1313 Said:
Krisss, my partner has approximately $100,000 in school loans and after consolidating at a low rate (about 3%), his payments now are about $600/month. I suppose a rough estimate therefore would be about double that amount, or $1200/month. As a parallel, we have a 30 year mortgage of $240K (at a 6% rate) and the monthly payments are about $1350/month. Thus, if you make about $140K/year gross, $1200/month should "only" be just about 10% of your gross. Not perfect, but doable if your income is near the upper average for GPs.
As for deferment, according to my loan provider, you can request a deferment and/or forbearance for internships and residencies, though the rules are a bit tricky as to which you can request and when. There is more information at the US Dept of Education website, specifically here for internships and residencies.
As for deferment, according to my loan provider, you can request a deferment and/or forbearance for internships and residencies, though the rules are a bit tricky as to which you can request and when. There is more information at the US Dept of Education website, specifically here for internships and residencies.
yeah, but I believe this is about to change effective July 1st from all reports. That is what I am curious about!
You know, it’s funny, but my lender has absolutely nothing on their website about the changes. I just called back and the rep I talked to had no idea what I was talking about re any of these deferment changes! That in itself is a little scary. He recommended I talk to a manager (!!) on a weekday.
I did find this information from the AAMC which seems to be focused on the issues for medical education (obviously). There is a special section for residents that seems to have some useful (if perhaps not exhaustive) information. Seems helpful. From my using the calculator, I would qualify for the income based residency deferment if I had $180K in med school debt.