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Is the student debt that comes with the medical school route possible to overcome What is the best way to go about it? #Fall25?
I am a freshman in college following a Pre Med route and studying biology. The weight of the bill that comes with college and graduate school terrifies me. I want to know every in and out of working this out... #Fall25
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James’s Answer
Although medical school debt is a big issue (and I wish our country would support physicians in training), every young physician I know has managed to gradually pay these loans off and still have a comfortable lifestyle. If you are motivated to become a physician and can get into medical school, please do not let debt stop you.
I agree with Dr. Barclay that one often can pay off the debt by working in underserved areas, with the military, with the Indian Health Service, etc. Like him, I received a loan through the state of Kansas that was a lot lower interest than the prevailing rate. You may want to consider such options if you are lucky enough to be accepted to more than one medical school.
I agree with Dr. Barclay that one often can pay off the debt by working in underserved areas, with the military, with the Indian Health Service, etc. Like him, I received a loan through the state of Kansas that was a lot lower interest than the prevailing rate. You may want to consider such options if you are lucky enough to be accepted to more than one medical school.
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Gregory’s Answer
Kendall,
It was good of you to write and this is a very important issue, especially given the changes in government-backed loans of recent months.
Most of us "older folks" would be inclined to say "if it is important enough to you, then borrow and accept that you will be paying for decades into the future for what you wanted so badly". And this is, I believe, a true statement.
However, there are a few other options to consider as you go along, once you gain acceptance to medical school. Specifically, many states offer scholarships to students who then agree to settle in an underserved area. Where I grew up and went to medical school, for example, there existed the Rural Kentucky Medical Scholarship Program. There may be something similar in Ohio you could check out. Similarly, many hospitals and health systems in underserved areas offer physicians who are just coming out of training "loan forgiveness" opportunities. So, in exchange for x number of years of practice in the community, the system or hospital pays off y amount of your loans. Not a bad deal. Also, the military and national health service corps offer scholarships to medical students that pay their full tuition, a book and living allowance, and opportunities for clerkships at military hospitals. That is how I financed my medical education in the 80's. I loved my time in the Navy and was thankful for the opportunity it gave me not only for my medical education but also my residency training and many experiences (such as being a general medical officer for a squadron of ships in Hawaii).
So, my suggestion is that you focus on getting admitted to medical school. Once past that hurdle, then be open to all the possibilities for funding. Just remember, none of us get something for nothing. So consider what you are willing to give in return for the gift of the funding.
Good luck! Let me know how it turns out.
Greg
It was good of you to write and this is a very important issue, especially given the changes in government-backed loans of recent months.
Most of us "older folks" would be inclined to say "if it is important enough to you, then borrow and accept that you will be paying for decades into the future for what you wanted so badly". And this is, I believe, a true statement.
However, there are a few other options to consider as you go along, once you gain acceptance to medical school. Specifically, many states offer scholarships to students who then agree to settle in an underserved area. Where I grew up and went to medical school, for example, there existed the Rural Kentucky Medical Scholarship Program. There may be something similar in Ohio you could check out. Similarly, many hospitals and health systems in underserved areas offer physicians who are just coming out of training "loan forgiveness" opportunities. So, in exchange for x number of years of practice in the community, the system or hospital pays off y amount of your loans. Not a bad deal. Also, the military and national health service corps offer scholarships to medical students that pay their full tuition, a book and living allowance, and opportunities for clerkships at military hospitals. That is how I financed my medical education in the 80's. I loved my time in the Navy and was thankful for the opportunity it gave me not only for my medical education but also my residency training and many experiences (such as being a general medical officer for a squadron of ships in Hawaii).
So, my suggestion is that you focus on getting admitted to medical school. Once past that hurdle, then be open to all the possibilities for funding. Just remember, none of us get something for nothing. So consider what you are willing to give in return for the gift of the funding.
Good luck! Let me know how it turns out.
Greg