Better Health: Smart Health Commentary Better Health (TM): smart health commentary

Latest Posts

Most Doctors Could Pay Off Their Student Loans Quickly If They Took Short Term Austerity Measures

At the risk of vilification by my peers, I’m going to say something extremely unpopular. We physicians have it pretty good financially. Our salaries are generous, and we have a much higher standard of living than most others in America. When I read online physician complaints about student loan debt, I cringe a bit. Because of all the people in debt, we are some of the most likely to be able to pay it down quickly.

Medical school and residency are emotionally, mentally, and physically exhausting. There is no doubt that we are severely cash-strapped during those years, and yearn for the day when we can go out to a nice restaurant and order anything we want from the menu. Most of us are eager to splurge on ourselves the minute we get our first job, and do not think about loan repayment. However, the truth is that if we gutted it out (living “like a resident”) for a mere 2 more years, most of us could pay off our student loans completely.

Let’s say we have an annual salary of about $200K and a student loan debt of about the same. What is the average household income in America? About 51K? Maybe if we lived on that amount for 2 years, and put all the rest (after taxes) into our loans – we’d be debt free.

I feel worried for young Americans who have a similar total student loan debt as physicians, but graduate with much lower earning potential. Students should soberly consider educational debt against their likely ability to repay it. We must all choose our education wisely, as it may have life-long consequences for our standard of living.

Physicians have many legitimate gripes, student loan debt (in my view) is not one of them.

 

Latest Interviews

IDEA Labs: Medical Students Take The Lead In Healthcare Innovation

It’s no secret that doctors are disappointed with the way that the U.S. healthcare system is evolving. Most feel helpless about improving their work conditions or solving technical problems in patient care. Fortunately one young medical student was undeterred by the mountain of disappointment carried by his senior clinician mentors…

Read more »

How To Be A Successful Patient: Young Doctors Offer Some Advice

I am proud to be a part of the American Resident Project an initiative that promotes the writing of medical students residents and new physicians as they explore ideas for transforming American health care delivery. I recently had the opportunity to interview three of the writing fellows about how to…

Read more »

See all interviews »

Latest Cartoon

See all cartoons »

Latest Book Reviews

Book Review: Is Empathy Learned By Faking It Till It’s Real?

I m often asked to do book reviews on my blog and I rarely agree to them. This is because it takes me a long time to read a book and then if I don t enjoy it I figure the author would rather me remain silent than publish my…

Read more »

The Spirit Of The Place: Samuel Shem’s New Book May Depress You

When I was in medical school I read Samuel Shem s House Of God as a right of passage. At the time I found it to be a cynical yet eerily accurate portrayal of the underbelly of academic medicine. I gained comfort from its gallows humor and it made me…

Read more »

Eat To Save Your Life: Another Half-True Diet Book

I am hesitant to review diet books because they are so often a tangled mess of fact and fiction. Teasing out their truth from falsehood is about as exhausting as delousing a long-haired elementary school student. However after being approached by the authors’ PR agency with the promise of a…

Read more »

See all book reviews »

Commented - Most Popular Articles

Sorry. No data so far.