Off match options

[Auvelity]

So to all of those who know that chances are low/none in the rest of SOAP. What are your plans?
If any Imgs out there how are the chances of getting an off-cycle position this far? In anything.
Can anyone offer advice on what to do this year besides declaring bankrupcy and dying from depression.
(I'm asking because of my bf, we are both IMGs but, I can't see him like this, he applied solo this year.)

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[randomcollusion]

I plan to become a clinical research coordinator with effort in several studies. Maybe be a clinical Site Monitor and put pressure on investigator driven studies to expedite approval of experimental industry drugs, devices, and supplements. Maybe a healthcare systems analyst or state insurance analyst to put the screws on underperforming hospitals. Maybe I'll do a survey on unmatched graduates and publish the heck out of the data.

For some reason I'm not sad after SOAP. I'm mad. I want to make sure every failed medical graduate is a public embarrassment to the institution and government that allowed this to happen, and it makes me feel productive.

I'm hoping it will pass, but it's better than being depressed.

 

[sazerac]

The people on that SOAP thread seem very ignorant about federal student loans. The payment plans that are based on income (like REPAYE) will take less than 10% of their paycheck, whatever the size. In some cases, they will even accept a payment of $0 (if your income was low enough).

Federal student loan payments can't physically cause bankruptcy. They can't send anybody to the poorhouse. You know what other kind of payment is also guaranteed to be a small percentage of one's income? State income taxes. But every April 15th, the entire population of California doesn't wail and bemoan having sent a small (<10%) portion of their paychecks the previous year to Sacramento and all declare bankruptcy and all collectively jump off of the Golden Gate Bridge. No, they just accept their by-definition manageable (i.e. income-based) regular payments as a consequence of their life situation and continue on working and spending and living.

The folks in the SOAP thread have enough to worry about, without having to make up more Fake News dire consequences.

 

[randomcollusion]

The people on that SOAP thread seem very ignorant about federal student loans. The payment plans that are based on income (like REPAYE) will take less than 10% of their paycheck, whatever the size. In some cases, they will even accept a payment of $0 (if your income was low enough).

Federal student loan payments can't physically cause bankruptcy. They can't send anybody to the poorhouse. You know what other kind of payment is also guaranteed to be a small percentage of one's income? State income taxes. But every April 15th, the entire population of California doesn't wail and bemoan having sent a small (<10%) portion of their paychecks the previous year to Sacramento and all declare bankruptcy and all collectively jump off of the Golden Gate Bridge. No, they just accept their by-definition manageable (i.e. income-based) regular payments as a consequence of their life situation and continue on working and spending and living.

The folks in the SOAP thread have enough to worry about, without having to make up more Fake News dire consequences.

Thanks to this post, I was able to discover that REPAYE may reduce my initial student loan payments by 40% when compared to my current IBR plan. Since I have a job, I can refinance my private education loans from 8% at a 20 year term to 5% at a 10 year term without changing monthly payments. This is my first year where I've made enough money to have to pay a chunk back after taxes, mainly because the student loan interest reduction caps at $2,500, and I pay 4 times that.

So here's the real problem: the 10% of AGI of the 6 figure graduate loan stacks with taxes, private education loans, and credit card loans from the expensive process of applying to the match 1 or more times in a system that makes the assumption of payoff several years down the line as a licensed professional, making up for entering the workforce and saving for retirement so late. Wages for medical graduates without a license are stagnant, and the math doesn't work out more than 10 years down the line. Debts accrued with even just 1 additional year of seeking the match may have decade long terms due to these separate forces taking chunks out of income that don't consider each other at all. Think about it: money may be so sequestered in repayment plans for many graduates that $5000 of debt from a residency seeking year may take 10 years to pay off, even with stable employment.

In summary, federal student loans do not exist in a vacuum (even though they pretend they do) and there isn't enough consideration for people who aren't residents that have some guarantee of being able to take control of their loans after a few years.