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|Subject: Re: Student Debt||Date: 7/21/1999 2:32 PM|
|Author: medgoddess||Number: 12428 of 77871|
In terms of MDs, it might get even worse for those in my generation - I expect to graduate 80K in debt (all from med school). We have higher debt loads than previous generations, thanks to skyrocketing tuition.
I'm not saying that you need to feel sorry for me, I LOVE what I'm doing. Every penny has been worth it so far.
I think a large portion of the differences can be explained by: Many more years of schooling compared to teachers. Not only is there the opportunity cost of not working, but med school tuitions are costly and scholarships are rare. And the equipment/books/required extras add up as well (and books are the only optional item on that list). My equipment will cost me about $1500 (at least that is what the finaid office budgets). Mandatory health insurance (not under parents' anymore) adds ~$3K per year. At least disability insurance is cheap (also mandatory). Family & friends can be astounded when they see these costs. It's no wonder many of us graduate deep in debt...and why I follow the living below your means board...
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