That’s an easy one.
When someone has lived their whole life wanting to be a doctor, and can only muster a 30%ile MCAT score after the third retake, or only has a 3.1 GPA with a worthless undergrad Bio degree and is finishing up an equally worthless masters in Bio, the options for doctoral professions become increasingly slim. MD is forever out of the picture, and unless the applicant does an extreme overhaul with a special master program and new high scoring MCAT, DO is as well. Dental is just as hard, sometimes harder than MD, so that is out as well. And we only have 6 month grace period before our 50k+ student loan debt for said worthless bio degree in undergrad and masters needs to be paid back. Up until this point, every teacher we’ve ever had has told us we could be anything we want to be and follow our dreams (regardless how dumb or economically unfeasible), better not critically think starting now and get out while we are only a bit in debt! Trade school? Welding? Plumbing? Marketable skill sets that people actually need? That’s for the peasants, I (think) I’m better than that! What’s 6-7% intrest? Daddy Gov’ment be handing out that money on grad plus like it’s raining.
Plus, what would we say to people we don’t really like at Family get togethers or weddings? That we entered the workforce with no post doctoral plans? perish the thought, I have shallow people I need to impress! Myself included.
Let’s look at the alternatives:
Optometry- great clean profession, but quickly becoming overstaurated. Check out the OD forums, there are recent grads having trouble finding full time work. Earnings 90-120k gross if you can find work, mostly in malls and Walmart’s . Debt 200-300k. Still a “doc”.
Pharmacy- super easy to get into, great pay for only 4 years after college, but crazy saturated job market. Add to the fact Amazon is looking to get into the Pharmacy business, and the prospects start looking dismal. Earnings 110-130k. 100-200k debt depending where you go.
Physical therapy- great profession, great hours, poor pay. Earnings 60-80k, debt 100-150k.
NP: Prolly the best debt to income, as you can work while earning your degree. 80-100k for primary care, the anesthesia ones make 200k+.
PA: likely out of the picture if one cannot get a 3.4+ undergrad GPA
Carribean: Vegas, baby.
Chiro: feast or famine when it comes to earnings. Most I know barley crack (lol) 60k/year. Few will make 500k+. 200k in debt.
Now let’s look at Podiatry:
7 years of school total (ouch) 300k in debt for most places. Gross around 130k-150k, sometimes exceeding 200k. Still a “doc”. Hmmm.
Seems like the best option for someone who wanted to be a doctor all their life. Typically people who want to be docs wouldn’t be happy in anouther field like IT, or engineering.
And yes, student loans are basically Monopoly money to everyone who takes them out. It’s why we have a problem brewing in the very near future
Not to hijack this thread - but I just don't understand how anyone who go into podiatry these days - it is just too expensive to do so with so little upside. Tuition is only going up. Many schools are located in high cost of living areas. And the reality is that there are very few pods who are going to make 300-400k to justify that type of investment. At least with MD the majority of jobs are 300 minimum and can justify that investment. Its simple math. The problem is that pre-pods are looking at things through rose colored glasses and don't understand the harsh reality faced. They don't understand that is real money that is being borrowed and has to be paid back. They don't understand the mental weight it carries when you have to start paying it back. They don't understand that there are very few jobs that going to qualify you for PSLF. They don't understand that it is nearly un heard of for a job to offer to pay back student loans.