Paying back "low" amount of loans after med school

[Wildtype]

As a very non-trad career changer who has owned a home and paid undergrad loans while earning 85k a year, I can confidently tell OP that he/she is way overstressing the debt. I think the UCLA full-ride is the smarter choice, but that amount of debt for any med school is not going to hurt at all unless drastic changes happen in physician compensation from now until you're an attending.

Imagine you make 300k a year. Say your take-home is 65% of that after all taxes. That's 195k a year. 195k / 12 = 16.25k a month to work with. That's a lot to work with post-tax. The only way you'd have any trouble paying off debt and raising a family at the same time, financially, is if you were just hyper aggressive in paying off the debt ASAP. In which case, it wouldn't delay your family starting that long anyway. If you took a modest or minimum approach to paying off the debt, you'd be able to comfortably live very well while raising a family.

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[YCAGA]

I never said all real estate is a scam, I said real estate is the most common scam for physicians to get involved in. I understand how my wording was confusing though.

Also, what does this even mean? Are you suggesting you're in medical school just to make money as a physician...? You'd just drop out if someone handed you a check for 10 million?

Uh...straw man argument, but the short answer is that I am not doing medical school to eventually work for free lol. And medical school and residency is a lot of work if you already have a NW approaching 8 figures in your mid to late 20s. Not saying I definitely would not still pursue medicine...but I also am not saying I definitely would.

American medicine is much less attractive if you are already independently wealthy, that is all I am saying.

I am worth like -$150k so none of this applies to me personally...

 

[deleted1025488]

I never said all real estate is a scam, I said real estate is the most common scam for physicians to get involved in. I understand how my wording was confusing though.

Uh...straw man argument, but the short answer is that I am not doing medical school to eventually work for free lol. And medical school and residency is a lot of work if you already have a NW approaching 8 figures in your mid to late 20s. Not saying I definitely would not still pursue medicine...but I also am not saying I definitely would.

American medicine is much less attractive if you are already independently wealthy, that is all I am saying.

I am worth like -$150k so none of this applies to me personally...

No argument here pal just talking! I totally see what you mean, though, fair enough. Cheers!

 

[Orims]

Happy to be a catalyst for discussion, but please don't turn this into a toxic thread!

 

[LaPioche37]

Come on, knowing nothing else, you would really rather your school’s match list look like University of Vermont’s versus say Hopkin’s?!

What's the consensus on what UVM's match list looks like compared to T10s and T20s?