$321,000 in MED SCHOOL DEBT!

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Income Based Loan Repayment Programs :
1. IBR - Income Based Repayment
- payment cap of 15% of discretionary income
- loan will be forgiven in 20 years
- tax bomb
2. PAYE - Pay As You Earn
- payment cap of 10% of discretionary income
- loan will be forgiven in 20 years
- tax bomb
3. REPAYE - Revised Pay As You Earn
- payments of 10% of discretionary income, NO CAP
- will count spouse income no matter how you file your taxes
- loan will be forgiven in 25 years
- tax bomb
- government will pay 50% of interest you don't pay in the first 3 years
futureproofmd.com/blog/2015/10...
futureproofmd.com/blog/2017/2/...
• IBR vs PAYE vs REPAYE ...
PSLF - Public Service Loan Forgiveness
- must take work in public service or government run
- must be in an income based loan repayment program (IBR, PAYE, or REPAYE)
- loan will be forgiven in 10 years
- NO TAX BOMB
futureproofmd.com/blog/2015/1/...
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Have you seen my previous videos :
Med School Graduation VLOG : • Med School Graduation ...
Prepping for Residency : • Going from Med School ...
How To: Shadow a Physician : • HOW TO: Shadow a Physi...
How I Study in Med School : • How I Study in Med School
Medical Tag ! • MEDICAL TAG | Jenny Le
Gestational Diabetes | What I ate in a day + Glucose checks • GESTATIONAL DIABETES |...
This channel actually started as a medical school blog in order for 5 medical students to keep in touch during clinical rotations third and fourth year. Along with my youtube videos, my friends still post regularly - they give great advice and vivid personal experiences. I think you all would really enjoy it.
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Lets keep in touch
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Опубликовано:

2 июн 2017

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Комментарии : 814

@amenahayyoub1280 7 лет назад

Here in Denmark you get PAID for going to school if you're 18+, you pay nothing ... Now I suddenly feel very blessed.

@Drzeezy 7 лет назад

For real??? Is that only for Danish citizens or also for International students?

@waleed8530 7 лет назад

the same here in the Kingdom of Saudi Arabia. education is encouraged by the government. expense-free from grade one + it covers your university of choice. they even pay you like $200/$250 wired monthly to your bank account.

@amenahayyoub1280 7 лет назад

Oh, the rule is that only Danish citizens get it. But after what I know there's some conditions, if you meet them you have a chance for getting SU (the paid amount) even if you're not a Danish citizen.

@DeAngeloYouKnow 7 лет назад

Thats really cool I like finland. :)

@nickmichas6 7 лет назад

Yea its nice when your a really small homogeneous country that doesn't have to worry about a large defense budget

@karno5128 7 лет назад

An anesthesiologist I work with told me when I finish residency to keep living within my residency salary and put everything extra toward loans and it'll be paid off in just over a year.

@mrs.g9195 7 лет назад

Karno That is what my husband did ( anesthesiologist ) . He worked in an area that paid 40% of his medical school costs but we paid the rest in about a year . I paid my pharmacy school debt before meeting him .We are debt free . You can do it !!!

@Lexethan2011 7 лет назад

Agreed. It's very doable. I paid mine off my first year out.

@spinLOL533 7 лет назад

Lexethan2011 Yea all you lose is a year but other people still pay their loans after a decade

@Lexethan2011 7 лет назад

Just because you're a doctor, you don't need to live like a doctor. Live below your means and pay that sucker off. It may be harder if you have a large family to feed but it shouldn't take more than a few years; not over a decade and still going at it. Most days I eat less than $10 making my own meals. I budget myself less than $1500 a month even when I'm debt free. Do I go over some months if I'm planning a trip? Yes. But mostly stick to the budget. Good luck.

@shelleyinthecity 7 лет назад

That is horrible advice. If you were to invest that same money, you could make more and get higher returns than the money you could potentially lose in interest. But hey don't take my word for it, consult a professional financial adviser.

@codybrucewilliams 7 лет назад

Doesn't matter if its $316,000, you have one of the few educations that will be FOREVER in demand. Millions of people (including myself) wish we were as lucky as you - in terms of ability and choices. I congratulate you.

@beezybis 7 лет назад

The only thing that scares me is if I go into medical school and then I fail. Then I'm just left with all this debt and no high paying job to pay for it 😲

@Boboelise 7 лет назад

Bisma thats why we have to work hard

@anniekayyy 7 лет назад

Bisma they won't admit anyone who they think will fail. It's very rare

@princessmoo4891 7 лет назад

but 40% of med school students don't finish. They select those who qualify. My aunt is a dean of students at a med school and they flunk out hard.

@anniekayyy 7 лет назад

I'm not trying to argue at all but that's simply not true, not in the United States anyway. Doing a quick search online will tell you exactly the opposite.

@princessmoo4891 7 лет назад

Ann Kennedy Perry I'll just say depending on which graduation year rate you take factors in the drop out rate. If you go for 4 you have the least chance, anything over 4 it skyrockets.

@beelatrinidad8554 7 лет назад

Modern day slavery: interest

@vareemalik4221 5 лет назад

That's why taking/giving interest is forbidden in Islam. ❤

@troy.u3297 4 года назад

Absolutely perfect analogy, Zionism created the banking system dated back with interest accumulation technique. It makes the rich getting richer and the poor get poorer. It's a type of slavery to control people. Look at us now in western countries, we are not free men.

@LivingLikeLiz 7 лет назад

I think this is such a helpful video! Especially for students who are deciding that they want to become a doctor, it's important to see the reality of becoming a doctor and the debt that can come with it. Thank you so much for this video!

@drjennale 7 лет назад

+LivingLikeLiz Here to share the good, the bad, and the ugly of my medical journey. Glad you like it!

@ShadeMiller 7 лет назад

many people love the job

@swaggmaster61 7 лет назад

not to mention the stress that probably comes with it

@naukanaukowo9671 7 лет назад

This is really unfair tbh. In my country I don't pay anything for med school

@vindowmaker5819 7 лет назад

Being a doctor should be a calling and it is for most so if your are worrying about debt... you shouldn't be a doctor! Simple.

@vietnamemperor123461 7 лет назад

I'm really glad you're not embarrass to talk about your financial situation. This is a big wake up call for people who think doctors or any other healthcare professions are super rich and went into the field for the sake of money. Of course, I'm not discouraging anyone to become a physician but if you want money please look into something else like opening your own business.

@drjennale 7 лет назад

+vietnamemperor123461 Couldn't have said it better myself !

@KimiKitty-rp7li 7 лет назад

vietnamemperor123461 ik

@RedLipsPR 7 лет назад

People that think that we study medicine to become rich is insane. There are other, better and easier ways to make a lot more money. Sheesh

@seapinkoyster 7 лет назад

+Thelondonbadger What you commented is the stereotypical "rich doctor" view that non physicians have about physicians. But in reality, doctors do make a comfortable enough income to sustain everyday life, but definitely not enough to live extravagantly like rich businessmen. Doctors make enough money to not have to worry about getting an extra bag of chips at the grocery store (which I think is well deserved considering physically and mentally long exhausting training), but definitely not rich like the media portrays them to be. The TV shows and numbers can be misleading, especially after you factor all the taxes, insurances, etc (more than half the pay is essentially gone).

@cmhardin37 6 лет назад

seapinkoyster Surgeons make 500k a year?

@sflecha1 7 лет назад

Great explanation. This was much more helpful than my financial advisor in school. Now I understand a lot more. Thanks!!! Good luck on your residency and with your growing family.

@drjennale 7 лет назад

+S Flecha I'm so glad I can help. I forgot to mention in the video but consolidate early!! I'm still in the process of trying to get my loans out of deferment 😑

@afrprincess07 7 лет назад

Jenny Le jenny, please, could you elaborate a little on consolation?

@drjennale 7 лет назад

+afrprincess07 So each year you take out a different loan and depending on the market at that point you get a certain interest rate. Consolidation just means that you will combine all those loans into one big loan and the interest rates will average out - in doing so, it will qualify you to apply for an income based loan repayment program (IBR, PAYE, or REPAYE)

@afrprincess07 7 лет назад

Jenny Le cool! Thanks for explaining!

@DaMushroomBit 7 лет назад

I seriously seriously appreciated this. As someone working towards getting into Med School the finance aspect was always a big worry in the back of my mind. Thank you so much!

@Drzeezy 7 лет назад

Where are you planning to go tot med school?

@zeiggam 7 лет назад

Thank you so much! No one EVER talks about the financial aspect, which is a VERY important component to the process. Subbed. I'm going to need all the wisdom I can get.

@beloved1311 7 лет назад

Those numbers make me want to throw up

@luomanfei 7 лет назад

Jumped right onto the video when I saw "DEBT" in the title.

@drjennale 7 лет назад

+luomanfei lol story of my life!

@saywhatondat 7 лет назад

luomanfei yup lol

@luomanfei 7 лет назад

Jenny Le. Thanks for talking about this. I will probably graduate as a pharmacist with half of the amount you owe. But everyone thinks we will become millionaires overnight with degrees like these. Little do they know we will be in debt for a long time.

@drjennale 7 лет назад

+In Kek We Trust Every single physician I have ever met has had student loan debt at one point in their medical career. I would argue that physicians and those in the medical field contribute most to society.

@imstupidbut4541 7 лет назад

In Kek We Trust veri noice

@jevettamd 7 лет назад

I am so sorry to see these numbers. I graduated from med school owing $40,000 in 1989. I was able to pay it back within 4 years making about 65K per year. I hate to say it, unless you are going into a super subspecialty, doctors DO NOT make as much as the public thinks. Primary care expect $100 to 165K per year. If you have small children, I would expect you wont make much. Good luck. Live very cheaply after residency until this is paid off.

@user-lu6yg3vk9z 7 лет назад

jevettamd That is 50% tax, 10-20% malpractice insurance.

@drewwebster1524 7 лет назад

Roran Stronghammer I think that was his residency

@kelseyl288 7 лет назад

I cannot explain how helpful this is, not only for medical students but any prospective student.

@kianaminor8903 7 лет назад

Thank you so much for taking the time to make this video. You addressed my worries for both undergrad and med school: MONEY!!! I feel much more confident I'm my future now.

@imlangim3278 7 лет назад

Dear Jenny Le, I am proud of you and your documentary on your medical journey. You are so helpful. I wish you well and be free of debt. Bless your heart.

@speedspeed121 7 лет назад

321k in debt + residency + motherhood = x I never sub channels, but I'm dying to see how this story works out.

@dragonflyjones4611 5 лет назад

Indeed!

@MsJu92 7 лет назад

Okay I'm not gonna finish the video just yet because I have an exam on monday and I need to revise, but I'll quickly say that I find it crazy that you guys accumulate this kind of debt to get an education in the US. It just boggles my mind and it makes me respect even more those like you who decide to take on this journey. Btw congratulations for your graduation and for your beautiful baby boy. I wish you all the best x

@drjennale 7 лет назад

+MsJu92 Thank you! ... How much is it to go to medical school in your country?

@gorkemdemir4044 7 лет назад

in my country (TURKEY) if you go to state university med school its free. İf you chose to go private university med school its around 40.000 . also you can directly go to med school . you dont have to do another major.

@drjennale 7 лет назад

+GÖRKEM DEMİR Ya the US has a lot of backwards thinking on public education

@gorkemdemir4044 7 лет назад

Jenny Le in the US How much do you pay if you go to public university med school?

@drjennale 7 лет назад

+GÖRKEM DEMİR around 200,000 ... public education is only free until high school in the US.

@carolynclark1984 7 лет назад

Thank you for being so candid and open about this. Super informative!

@JesusMyIshi 7 лет назад

Thanks for being so transparent Jenny ! No one ever addresses this

@micalane 7 лет назад

Thanks so much for this video! It's scary whenever you have a massive amount of student debt. It's comforting just to hear someone else talking about it. I'm set to graduate law school in August 2018 and I'm already terrified.

@drjennale 7 лет назад

+Mica Massie My friends who finished law school is in PSLF ... we're just waiting to see if they will forgive her loans!

@lexi03gabby 6 лет назад

Great video! My fiancé joined the Navy to pay for Med school and had a full ride for undergrad. He was very lucky for this opportunity but this is a great resource for people who don’t want to join the service. Monetary or Military both have pros and cons and you ultimately have to decide what will fit your lifestyle after school...glad I found your channel!

@hoshiistar3322 7 лет назад

wow thank you so much for your detail info and transparency! also awesome description section! Thank you always!!!

@ayanyonis2002 7 лет назад

In Germany there is pretty much zero debt when it comes to studying. He doesn't pay anything and is studying medicine. Check out European countries that lecture in English. It's worth the move!

@Drzeezy 7 лет назад

True that !!!But you gotta learn German though! I just dropped a video about that on my channel! There are alot of places where medicine can be learnt without getting into so much debt!

@Robertking1996 7 лет назад

Where young doctors get trapped is once they finish residency and get their first real paycheck they start expanding their life style too quickly; cars, houses, vacations, nice things. No problem you deserve too after the years of hard work, but realistically if you make $180,000 after being on stipend and loans you can pay the loans back in 1-3 years if you just keep the same lifestyle of a student and be done.

@Robertking1996 7 лет назад

Yup!

@stephlyndsey3932 5 лет назад

Great explanation. People have to work smarter not harder. Complaining doesn't solve the issues. Budgeting and sacrificing does!

@skittless3949 7 лет назад

Very informative! Thank you! You know the options and you got this! Don't stress! Peace and love!

@paradiseheaven 7 лет назад

Thank you so much Jenny for sharing such in depth details about med school loans process and debt amount. I have not found anyone else who has gone into such detail. This is sooooo helpful ! Thank you so much again. Wish you good luck and you can definitely pay back ur debt!

@bijounguyen6453 7 лет назад

This is really funny but you just showed up in my RU-vid feed. I don't know if you remember me, but we went on Project Vietnam together when I was in high school. Currently an MS2 at USC. Congrats on matching and graduating - AND THE BABY - Jen!

@drjennale 7 лет назад

+Bijou Nguyen I do remember!! Congrats on med school ... and good luck on boards!

@bijounguyen6453 7 лет назад

Thanks! Step 1 is on Monday

@drjennale 7 лет назад

+Bijou Nguyen 😱 you'll do great!

@SIncerelyLaine 7 лет назад

This was very helpful.. the debt you develop is crazy but if becoming a doctor is your passion then it will be worth it .. even though that amount is so ridiculous

@drjennale 7 лет назад

+SIncerelyLaine I agree 🤓❤️

@SIncerelyLaine 7 лет назад

Jenny Le all your videos are very motivating. I cannot wait to go to medical school. I have 2 more years to obtain my bachelors and I have 3 kids lol

@slaughter4666 7 лет назад

SIncerelyLaine damn that's quite the situation you are in, but once you become a doctor that salary is more than enough for your family. Good luck!

@incognitos4342 6 лет назад

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-tE1o4buCx2Y.html

@cecelila5844 7 лет назад

There are different loan forgiveness programs, but with the current secretary of education, those programs may be reduced or eliminated :( :(

@drjennale 7 лет назад

+cece lila Exactly. So I'm hoping that I would godfather into the program since I qualify for PSLF ... we'll see in October. That's when the first round of loans will be forgiven (or not forgiven)

@premedmuse4842 5 лет назад

Jenny Le you’d likely be grandfathered in if you’ve started and you’ve been doing your paperwork. That said, I’d suggest that you make a side savings account called the “PSLF emergency fund” just in case things do fall apart.

@breezy30153 6 лет назад

& I’m over here with my 24,000 in nursing school debt. If blessed ain’t the word 🙌🏽. Praying for you :) you’ll pay that off with a breeze MD.

@violetk6212 7 лет назад

You're such an amazing woman Jenny. I'm so glad you share your life so people can see women like you prosper. Much Love!

@0blabla159 7 лет назад

Wow it just sounds so ridiculous to me having to take out such a huge loan for going to med school. Makes me appreciate the free education we have here in Austria (and in most parts of Europe). Huge respect to you for following through with your journey, I'm sure you'll make a great doctor!

@ashleycosta1894 7 лет назад

this was an extremely helpful video ! I'm planning on attending school as soon as my baby is born & idk how I'm going to deal with the debt but this was very informative

@MrBrotherKnowledge 7 лет назад

Really good stuff here. Excellent video filled with quality information. Respect.

@sgordenier 6 лет назад

Thank you so much for this video. I feel comfortable knowing that I’m not alone with feeling this debt is okay. ❤️ Investing in your future is so important.

@LoveDaringGreatly 7 лет назад

Thank you for sharing openly this reality. I know many people will benefit just by you sharing your experience and plan.. best wishes

@DrGalvis 7 лет назад

Yo, no price is too steep for what you want to do. But it is never fun haha you got this!

@OliveHazyMama 7 лет назад

This could be one of the most practically useful videos I have ever watched. Thank you for the insight. Hope you and your baby are doing great!

@tuzannegoe9647 7 лет назад

This is a great video. Thank you for taking the time to share your knowledge.

@AS-du8hu 7 лет назад

FYI !!! - the income driven repayment plans that she was referring to are only for federal loans not for private loans.

@julieoh019 6 лет назад

This is really helpful! kinda hurts to think abt the interest that is accruing as I type but hey it is what it is! Thanks again for the organized list and explaining it through:)

@simplydee2567 7 лет назад

Wishing you the best of luck! I am annoyed with how much they are charging for school, it's gotten a bit ridiculous!

@ometofu 7 лет назад

This is a very good video... save it and will watch it later over and over again...

@midnightmoon001 7 лет назад

Thank you Jenny!! So informative! :)

@alexisngu5564 7 лет назад

Thank you for the informative video! Good luck and have fun in residency! :D

@drjennale 7 лет назад

+Alexis Anh Nguyen I will try!!

@XDunLoVed 7 лет назад

I'm about to graduate with a BS and I just went through the process of choosing a repayment plan. I'm $56,000 in debt as of right now and this video was very informative! It's ridiculous how much interest can occur for a loan that is going towards education!

@EyeWatchU2B 7 лет назад

Awesome and honest video. Thank you. I learned a lot!

@TheXoxoashxoxo 7 лет назад

Thank you so much for making this video!!! It's super helpful and informative. Would love to see a video on how you paid for rent, textbooks, groceries etc. P.S. love your videos so much!

@drjennale 7 лет назад

+Ashlyah Brodhead-Trimm This is included in the total. I took out loans to cover med school and all living expenses. This is the usual for most students.

@Kelberi 7 лет назад

Education reaps you and you can't help but to reap your patients. What a world.

@emmanuelgutierrez7282 7 лет назад

Great video, it was really helpful to hear some insight info.

@MrWarCry1 7 лет назад

All levels of education should be free . There should be no fee for knowledge . We are robbing our own future by not offering free college .

@incognitos4342 6 лет назад

HillBilly Biker Germany

@incognitos4342 6 лет назад

HillBilly Biker or join military

@Kymv8382 5 лет назад

NO!! When you make something free, your lose the value in it. The earning potential of an MD is greater than any other field for a reason! It HAS to cost money. There is NO such things as FREE.

@cristinasilvera9183 7 лет назад

I'm studying medicine in Spain and this sounds crazy to me. In Spain and most european countries, the state pays the majority of the money so we only pay a small amount in public university. Each year I have to pay almost 1000 euros, and as medicine has 6 years the whole degree costs less than 7000 dollars. Even in private med schools, the whole degree costs less than 150,000 dollars. I now feel blessed. I honestly can't understad why education has a price in the US

@OmotolaALawal 7 лет назад

Cristina Silvera lol....they charge international students full price and use the money to fund the schooling of the original citizens...it isn't necessarily free they just get the money from somewhere else not from the citizens...that's how it works

@OmotolaALawal 7 лет назад

Medical school is generally expensive...there are more expensive schools in america and less in europe.....i am international student and i pay $17000 every year while the citizens of the country pay nothing.....that's fine by me but i can't stand it when people say that it is FREE in europe....they get the money from you one way or the other.

@PersianPrincess12 7 лет назад

Wow thank you SO much for this!!!

@zoeliam 7 лет назад

Thank you for making this video. I think it's helpful and encouraging as I'm an international student trying to pursue PsyD in clinical psy in USA (gotten an offer) and the exchange rate between USD and MYR is just horrifying. But it feels comforting to hear someone saying that going to med school (or I supposed any graduate school) is an investment for yourself. Because when I tried saying that to some people around me (even my parents at first), people usually have a hard time understanding that. Some passed judgments like I'm taking a huge risk and I'm not making money when I'm supposed to (as compared to my peers, most of them own a property now and I don't). That and looking for funding options really exhaust me at times.

@jem0521 7 лет назад

Thank you for presenting this reality. I am working as an RN right now but I really want to pursue medicine. Still contemplating about it 🙂

@gizanglyer5299 7 лет назад

I know residency and having a newborn will amount to a crazy schedule for you but I hope you don't slow down with making videos!

@drjennale 7 лет назад

+Gizan Glyer I will try my best 😅

@BoltCRNA 7 лет назад

I was calculating my loans for my CRNA DNP last week and when I realized it was about $200,000 I almost had an MI. Good to see videos with tips on how to manage the debt.

@Drzeezy 7 лет назад

great video!! I think i might make a video on it! I know some of my friends from the US who didnt get into debt and still finished med school by studying abroad! i think it wil help alot of people to prevent going into debt

@drjennale 7 лет назад

+Dr. zeezy Yes!! A little late for me but I would love watch that video.

@veganteen8609 7 лет назад

But foreign medical grads have a hard time matching for residency in the US. And most foreign medical grads pay a ton of tuition at Caribbean medical schools. I'm curious what your friends did.

@RedLipsPR 7 лет назад

It all depends on the School tho, some schools have really strong ties in the States and Many of the students get residencies. Does Medical Schools that are specifically for Americans in the Caribbean are a death trap. If you just go to a foreign school and you just happen to be an American is much better.

@Drzeezy 7 лет назад

Not true |! My friend worked really hard for the USMLE and got really high scores so it did match with the type of residency he wanted to get

@RedLipsPR 7 лет назад

I've seen the same thing happen with students from all over the world, from India to Mexico. Just do well on the boards and try to get some research in ( if your desired residency requires it for a more favorable outcome).

@x3b3llax3 7 лет назад

Thank you for posting this!

@AG-xi8mn 7 лет назад

Very informative video! Just subscribed! :)

@unassailable6138 7 лет назад

4th year of med school here. I'm taking a year's break to save more money, right now ZERO debt, because I only slept 5 hours a night so I could work for my first 4 years and do them debt free, but tuition fees catched up to me so now I gotta take a year off.

@mickeynguyen4639 7 лет назад

Thank you SO much for this video!

@arturoluna475 7 лет назад

nice apartment. good luck with the loans!

@karinajackson9573 7 лет назад

I really enjoyed this insight. I am currently a single mother of two, and my dream has always been med school. I gave that up while I was married, but now that I am divorced I really see this as a second chance. I am scared and really question whether I should do it since I have two kids, and im 31. I have made the decision to finish my current masters and take my final prereq which is Orgo ;( and then taking the MCAT and applying to a DO program here in FL. I do not know what are my chances but what is the worst that can happen, they can say NO and I will move on, right? Once again thank you for sharing your journey.

@drjennale 7 лет назад

+Karina Jackson Good luck on your medical journey! You are so strong.

@karinajackson9573 7 лет назад

Jenny Le thank you! 🤞🏼

@SIncerelyLaine 7 лет назад

Karina Jackson hey! I'm a single divorced mother of 3 and I have 2 years left of my bachelors and will be applying for medical school .. I'm 27 and anything is possible.. go after it girl

@karinajackson9573 7 лет назад

SIncerelyLaine that is awesome! Keep pushing and I know it's hard, but at the end it's for our kids future also! We will make it

@EveLyn-rn4kn 7 лет назад

I love all this encouragement. Go Ladies. You guys are so strong. Good luck 🍀

@lindab6956 7 лет назад

sometimes I am simply grateful to live in germany...

@scholasticab9801 6 лет назад

University is not "free" in Germany or anywhere, tax payers are paying for it. I used to work in Germany and had to pay 45% taxes... i made 22.50€ an hour but only received a 12.50€ per hour, the rest was collected by the government. Now I pay 25% taxes with the same job in the USA. That's 20% of my hard earned money going towards my family and not people who arent making much of it. At my old University in Hamburg, Germany, 90% of students study for extra semesters than necessary for an easier study experience. Some even are enrolled in the university but don't go to classes because they aren't the ones paying for them. In Germany, it is common for students abuse the "free college" system and to study for an extra 2-10 years+ because they aren't the ones paying the 25,000€ per year bill. Tax payers are. For each person working hard to earn about 48,000€ yearly, their 45% taxes paid is just enough to pay for one student's "free college". That money could be going to putting food on the tables of their families and buy other things they actually earned from their hard work. Students are not entitled to "free college". They did not earn the money. Why can't they work part-time and pay for it themselves? Both of my parents did that even though they grew up in poverty, and I did too, working two jobs until the middle of the night while studying. It's a simple concept, you work hard for the money, so you deserve the money. No able-bodied person is entitled to "free money" from another hard worker's paycheck.

@Elisahzimri 4 года назад

This helped me to understand a lot. Thank you

@failyourwaytothetop 7 лет назад

People don't realize that if you take your after tax or net income divided by 52 weeks divided by the hours you put in as a resident on a weekly basis you're making a minimum wage income . 4 years of that plus 8 years of schooling which means debt it may not be worth it for many out there. The hospitals benefit from having a whole bunch of minimum wage doctors subsidised by the government. They are the main beneficiaries of this racket under the pretense of training young doctors to be. Congratulations on your achievements.

@lookingforsure 7 лет назад

Sine Analysis totally agree that's why money shouldnt be the motivation to be a doctor because clearly you can earn much more working way less in other fields. also my country just passed a law to add years to residency to ''train better the residents'' but its clearly a way for them to make profits off our back

@rebeccasuraci7666 7 лет назад

The passion for the job should be the only thing because let's be honest with the malpractice insurance you have to flip the bill for your salary cuts in half . And then of course taxes. Now your 350k/yr job is like 100. For all the time you put in a debt you accrue! You'd really have to have a genuine passion for helping others versus the paycheck.

@failyourwaytothetop 7 лет назад

lookingforsure LOL so they add on more years to create a more efficient and highly trained physician. You gotta love society's hypocritically innocuous statements. You could continue with that minimum wage salary to eliminate your debt much more quickly. How many more years of minimum wage would that be? Calculate another 4 to 5 years. You're looking at near 20 years before you can claim your first year as a member of the 1%. In other words, anywhere from 15 to 20 years of ZERO income to claim your first year as a 6 figure without dividing that into the past. There's a price to pay to achieve the MD tag.

@NamasteCC 7 лет назад

Thank you soooooo much!!!! I am $125K in student loan debt from Law School

@RyanAmplification 5 лет назад

There are loan repayment programs at hospitals and with the NHSC. There is a small hospital in southern Delaware that will pay 20,000 a year on your loan for as long as you work there. I know because I have a family member who hires doctors there.

@brsugarbabe 7 лет назад

I've never heard of the replay option. I've been doing IBR and the interest is accumulating. I've been paying my graduate school loans since 2012 and wasn't told about this option. Would I still qualify? Will the government still pay the interest?

@SmashBrosBrawl 6 лет назад

The government doesn't forgive the loans, the tax payer does.

@tommymak2038 6 лет назад

what was the bank you used for the flyer points on the credit card?

@fudiadumbuya1030 5 лет назад

Where did you take out loans for undergrad? I’m looking for good places to loan from.

@shwxmb 7 лет назад

I just took out my first loan med school, I took out the max allowed beaus I am not sure what I am going to need to buy but it was 90K!!! I am definitely going to adjust the amount I take out from here on out though. Thanks for outlining some of the repayment programs.

@drjennale 7 лет назад

+Amanda and Rich Show You can always give back what you don't use at any time. Usually they give you a grace period within the first month or so to return the money and they won't charge you the interest on it.

@shwxmb 7 лет назад

OoO Thanks for the quick reply, good to know!

@zhizhixoxo 7 лет назад

Much respect to many like you who sacrifice so much to better yourself and the world.

@Thehandsomeliberal 7 лет назад

Fortunately, you're in a profession where you have a reasonable chance of actually paying it off. There are a lot of people who have obtained an education in a field where it is highly unlikely they will ever earn enough to satisfy their debt.

@shannasalvatore2631 5 лет назад

I'm planning on going to med school. With my loans after I'm doing income based payments during residency, and then the first 3 years of attending I'm still going to live off a 75-80k income and use the rest to pay the loans back. 2.5 years and they'll be paid and no worries ever again over it.

@CAsaidit 7 лет назад

I did not go to med school, but I did get my bachelors degree. I was lucky enough to have a lot less debt when I graduated than most of my friends. If you are able to, start paying off your loan when you are in college. The money I made during the summer was mainly used to pay off the previous year's loans. Remember, for some loans, interest will be adding up when you are still in school. Also, when people like your relatives want to get you gifts for birthdays and Christmas, etc. Just ask them for money because you want to pay off your loans. It may sound odd to ask for money, but if you let them know about your goals and that it is going towards your education, they will be happy to give you a check rather than a sweater you don't need.

@chantaltiene5473 7 лет назад

I looked up a couple of Airline cards and I could not find one that is really 0% APR all of them have APR eventually down the line. Which Airline cards do you suggest?

@drjennale 7 лет назад

+Chantal Tiene APR just stands for the interest. You avoid that when you pay off in full every month. You're looking for a card with no annual fee. My friends really like Alaska or capital one venture. But this just depends who you fly with most often.

@Sesj02 7 лет назад

Besides accumulating debt for Med school, what happens to the debt you obtained from your undergrad studies?

@pnoipr8 5 лет назад

Hi , thank you for the video. just finished PA school with 240k debt. 1) Is the point of those income driven repayment plans, to pay a minimum amount for 20-25 years, and get the remainder forgiven with a tax bomb? And it would not be smart to pay more than the usual minimum amount per month to pay off the entire amount before 20-25 years, so you wont get tax forgiven at the and no tax bomb? 2) is it allowed to pay more than the minimum amount or will there be penalties?

@karianne9518 7 лет назад

Hi Jen, once you get out of residency what do you think your predicted income will be like? Do you plan on living like you're broke for the next few years until you paid off most of your debt? I also will like to say congratulations on becoming a new mother and matching into a specialty! You are truly my inspiration.

@salma31000 7 лет назад

i believe ppl have way more than you.. so don't sweet you'll pay it off.. best of luck in your future endeavor

@hanmcq98 7 лет назад

Are these programs only applicable to government issued loans or private loans as well?

@lilrabbitcuz 7 лет назад

Reason why surgery should "choose" you. 100k debt, "ain't nobody got time 4 that!"

@clubninjas3563 7 лет назад

I am interested in become a doctor but i have not entered college yet and so i know the journey from college to med school graduation will be around 8 years, so i will be around if i start the journey now. How old are you now and how old were you when you started college if you do not mind me asking?

@dragonmaster7841 6 лет назад

Gotta specialize. I’m a GP and I’m 13 years out of residency and I’m still paying loans.

@sidharthchand8072 7 лет назад

Make sure if you prepay/over pay your loans every month it's not going to interest it's going to principle you have to call and specify with them and hold their little hands through it

@alexane123 7 лет назад

Good job, girl ✨

@Toogaytoofunction 5 лет назад

Were all your loans federal or were some private? Also, do you recommend looking into some private loans that are lower in interest? Thank you!

@drjennale 5 лет назад

These are all federal loans. If you want to possibly qualify for loan forgiveness, I don’t think you can have private loans.

@yoleeisbored 6 лет назад

Could you do an update on your debt?

@MsLQVE 6 лет назад

I'm so happy that we don't have to pay for any school here in Finland! That sounds so crazy

@achalacharya 7 лет назад

I went to medical school and I'm completely debt free, any guesses how...

@dannyt.6616 7 лет назад

-$321,000 to be a doctor? Then people wonder why Healthcare is expensive.

@claymanwayfaerer 7 лет назад

If someone is looking to get into med school, someone should sit down and check the net present value (NPV) calculation for yourself. Check the projected cash flow for the time you expect to be in medical school/undergraduate. The cash flow for each year will vary for different types of medical professionals. Its a math question at the end of the day.

@ABEL1095 7 лет назад

Hi Jenny I recently graduated in Engineering and I want to join to medical School how possible is tgat and If my grade is less than 3.2 how possible is to join medical School thank you for your time