12, 2019 (HealthDay News) -- Nearly two-thirds of actively practicing physicians are still carrying medical school debt
, according to the Medical School Debt
Report 2019, published by the staffing firm Weatherby Healthcare.
We assessed the univariable associations between the amount of medical school debt
and the above questions using the x-squared test, Fisher exact test with Monte Carlo p-value, and analysis of variance.
The medical professionals are poorly paid and many in the field stay away because of their medical school debt
and the opportunity to make more in the private sector.
And since the repayment terms for these loans can vary from 10 to 25 years, some doctors may still be paying off medical school debt
at the age of 55.
By eliminating medical school debt
, we can remove one of these constraints and make the practice of medicine as rewarding and gratifying as it has been in the past, and more accessible to those who truly wish to care for others.
GME, which is funded at $218 million and is distributed to 43 acute care hospitals in the state, supports the growth of hospital-based physician teaching programs by relieving residents of some of their medical school debt
. Cooper University Hospital in Camden and Jersey City Medical Center are set to receive the most.
A final point about life insurance: it's a common misconception that medical school debt
evaporates on death; sadly, this is only true for federal loans, not private loans.
Newly minted primary care physicians end up with more than $300,000 in medical school debt
* More than 60% of the residents said that an offer to forgive their medical school debt
in exchange for a time commitment in a less than desirable practice setting would have "some effect" or a "great effect" on their choice.
Students facing huge medical school debt
are attracted to specialties that promise them shorter work hours for greater pay, such as anesthesia and radiology, Dr.
Some value free time over money at this point in their careers, and others still have medical school debt
and young families to raise.