The next time you’re in the doctor’s office, you might find yourself a bit envious of their career and the the money they earn, but it turns out many of them are swamped in debt!
Come to think of it, a lot of my friends just finished up med school this year, and quite a few more will be finishing next year. I wonder if they are swamped in debt too?
Just over 85 percent of doctors will graduate with debt, and some 37 percent will have 200K or more worth of loans against their name! That’s a heck of a lot of cash, even if you are earning a doctor’s salary!
This debt can have huge impacts on the choices doctors make. For example, over 60 percent of doctors report that their debt levels had an impact on deciding where to live. And almost 60 percent report that debt will impact their specialty choice.
Perhaps worst of all, these debts are having a major influence on the way doctors are living their personal lives. For example, 40 percent of medical professionals report that debt influences their willingness to pursue further training. And nearly 40 percent report that this debt is influencing their decision to have children.
And the debt levels are showing in how doctor’s perceive their education. Consider this, 81 percent of doctors believe they received good or excellent education. On the other hand, nearly 40 percent believe the value of their education was “average” or below.
Anyways, this informative infographic by the Student Doctor Network is filled with a ton of other helpful information! Check it out!
