If money is the root of all evil, what does that make debt? Evil’s ugly big brother.
A report by the Association of American Medical Colleges (AAMC) revealed that over 86 percent of medical graduates carry an educational debt principal of over $160,000, with a significant number of graduates reporting debt totaling over $350,000. In addition to massive student debt, personal financial challenges include the loss of nearly a decade of income and investing opportunities.
On the second-to-last day of medical school, we listened to a presentation about debt and loan repayment. Sitting in the back of the lecture hall, I felt the room grow grim as the lecture proceeded. The classroom of energized new doctors became intimidated and overwhelmed. After the meeting, I was surprised to learn that, for many students, this was the first time they had truly understood the reality of their medical school debt burden and repayment options.
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