View Single Post
Old 09-28-2013, 11:28 PM
NateR's Avatar
NateR NateR is offline
Join Date: Jan 2009
Posts: 5,742

Here's an interesting article about the student loan debt that most doctors end up with:

A key quote for those people thinking that doctors are only concerned about affording their second summer home:
For almost three generations, debt has been a nearly inescapable part of becoming a doctor. Over 80 percent of each medical student class will graduate in debt; and while that percentage has remained unchanged for 25 years, the increase in the total amount owed has leapfrogged over all other economic reality checks, like inflation and the consumer price index. According to the Association of American Medical Colleges, which has been trying to address the problem for nearly a decade, young doctors who graduated from medical school last year had an average debt of $158,000, or $2.3 billion for the group as a whole. Almost a third of students owed more than $200,000, a number that will only increase with the addition of interest over payback periods of 25 to 30 years.
So it takes them 25-30 years to pay back all of their student loan debt under the current system. If doctors are going to start getting reduced wages because of Obamacare, then they could be looking at being buried in student loan debt for their entire life. So, what's the incentive to becoming a doctor under this new plan? The medical profession would essentially become a new form of slavery.
Reply With Quote