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Once I finish medical school, how long will it take me to get out of debt after if I become a dematologist?

Or do I ever get out of debt?

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Subject: Career question for you

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Michel’s Answer

So this is completely variable. Dermatologists make very good pay, but if you get out of medical school and buy a very expensive car it is going to be harder to pay that debt off. I would suggest that once you finish medical school and residency you become an attending that is when you make a lot more money. Live a couple years more frugally and you can really knock down that debt quickly. Whitecoatinvestor has a good guide on how to deal with money after finishing and you can look at that if you would like.
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Emma’s Answer

The timeline to pay off medical school debt and achieve financial stability as a dermatologist varies based on factors such as the amount of debt, income as a dermatologist, budgeting skills, loan repayment plans, interest rates, side income, investment strategies, and lifestyle choices. While dermatologists typically earn well, the ability to repay debt quickly depends on effective financial management and individual circumstances. Some dermatologists may pay off their debt within a few years, while others may take longer, especially with high debt loads. It's crucial to create a financial plan, explore loan forgiveness options, and make informed decisions to achieve financial goals and repay debt efficiently.
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