$321,000 in MED SCHOOL DEBT!

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$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.c...
futureproofmd.c...
• 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.c...
EBATES : go.ebat.es/ims...
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Have you seen my previous videos :
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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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Пікірлер: 812

@amenahayyoub1280 7 жыл бұрын

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 жыл бұрын

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

@waleed8530 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

Thats really cool I like finland. :)

@nickmichas6 7 жыл бұрын

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

@karno5128 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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

@spinLOL533 7 жыл бұрын

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

@Lexethan2011 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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 жыл бұрын

Bisma thats why we have to work hard

@anniekayyy 7 жыл бұрын

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

@princessmoo4891 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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.

@vietnamemperor123461 7 жыл бұрын

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 жыл бұрын

+vietnamemperor123461 Couldn't have said it better myself !

@KimiKitty-rp7li 7 жыл бұрын

vietnamemperor123461 ik

@RedLipsPR 7 жыл бұрын

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 жыл бұрын

+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 жыл бұрын

seapinkoyster Surgeons make 500k a year?

@LivingLikeLiz 7 жыл бұрын

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 жыл бұрын

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

@ShadeMiller 7 жыл бұрын

many people love the job

@swaggmaster61 7 жыл бұрын

not to mention the stress that probably comes with it

@naukanaukowo9671 7 жыл бұрын

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

@vindowmaker5819 7 жыл бұрын

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.

@MsJu92 7 жыл бұрын

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 жыл бұрын

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

@gorkemdemir4044 7 жыл бұрын

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 жыл бұрын

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

@gorkemdemir4044 7 жыл бұрын

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

@drjennale 7 жыл бұрын

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

@sflecha1 7 жыл бұрын

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 жыл бұрын

+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 жыл бұрын

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

@drjennale 7 жыл бұрын

+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 жыл бұрын

Jenny Le cool! Thanks for explaining!

@beelatrinidad8554 7 жыл бұрын

Modern day slavery: interest

@vareemalik4221 5 жыл бұрын

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

@troy.u3297 4 жыл бұрын

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.

@jevettamd 7 жыл бұрын

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 жыл бұрын

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

@drewwebster1524 7 жыл бұрын

Roran Stronghammer I think that was his residency

@DaMushroomBit 7 жыл бұрын

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 жыл бұрын

Where are you planning to go tot med school?

@luomanfei 7 жыл бұрын

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

@drjennale 7 жыл бұрын

+luomanfei lol story of my life!

@saywhatondat 7 жыл бұрын

luomanfei yup lol

@luomanfei 7 жыл бұрын

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 жыл бұрын

+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 жыл бұрын

In Kek We Trust veri noice

@Robertking1996 7 жыл бұрын

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 жыл бұрын

Yup!

@stephlyndsey3932 6 жыл бұрын

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

@kelseyl288 7 жыл бұрын

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

@ayanyonis2002 7 жыл бұрын

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 жыл бұрын

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!

@speedspeed121 7 жыл бұрын

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

@dragonflyjones4611 5 жыл бұрын

Indeed!

@cecelila5844 7 жыл бұрын

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

@drjennale 7 жыл бұрын

+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 жыл бұрын

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.

@beloved1311 7 жыл бұрын

Those numbers make me want to throw up

@bijounguyen6453 7 жыл бұрын

This is really funny but you just showed up in my KZfaq 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 жыл бұрын

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

@bijounguyen6453 7 жыл бұрын

Thanks! Step 1 is on Monday

@drjennale 7 жыл бұрын

+Bijou Nguyen 😱 you'll do great!

@SIncerelyLaine 7 жыл бұрын

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 жыл бұрын

+SIncerelyLaine I agree 🤓❤️

@SIncerelyLaine 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

kzfaq.info/get/bejne/qqthopeT2qncYo0.html

@DrGalvis 7 жыл бұрын

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

@AS-du8hu 7 жыл бұрын

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

@imlangim3278 7 жыл бұрын

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.

@Thehandsomeliberal 7 жыл бұрын

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.

@cristinasilvera9183 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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.

@MrWarCry1 7 жыл бұрын

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 жыл бұрын

HillBilly Biker Germany

@incognitos4342 6 жыл бұрын

HillBilly Biker or join military

@Kymv8382 5 жыл бұрын

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.

@breezy30153 6 жыл бұрын

& 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.

@0blabla159 7 жыл бұрын

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!

@karinajackson9573 7 жыл бұрын

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 жыл бұрын

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

@karinajackson9573 7 жыл бұрын

Jenny Le thank you! 🤞🏼

@SIncerelyLaine 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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

@failyourwaytothetop 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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.

@gizanglyer5299 7 жыл бұрын

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 жыл бұрын

+Gizan Glyer I will try my best 😅

@Kelberi 7 жыл бұрын

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

@lindab6956 7 жыл бұрын

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

@scholasticab9801 6 жыл бұрын

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.

@micalane 7 жыл бұрын

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 жыл бұрын

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

@Drzeezy 7 жыл бұрын

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 жыл бұрын

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

@veganteen8609 7 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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 жыл бұрын

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).

@lexi03gabby 6 жыл бұрын

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!

@unassailable6138 7 жыл бұрын

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.

@SmashBrosBrawl 6 жыл бұрын

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

@JesusMyIshi 7 жыл бұрын

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

@CAsaidit 7 жыл бұрын

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.

@kianaminor8903 7 жыл бұрын

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.

@NamasteCC 7 жыл бұрын

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

@zeiggam 7 жыл бұрын

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.

@er1cmaurer 7 жыл бұрын

Med school, dental school, whatever school. That huge debt is NOT worth it. Trust me, you get treated like garbage from your patients and that debt will kill you. It's 3,000-5,000 per month payments that you cannot write off any interest for taxes. It is fucking crushing and not worth it even if you think "this is my dream job". No,...it's a prison. I did it, and only had 180,00 debt. It's been 8 years and I still have another 8 years to hopefully pay it off. If I owed 300K plus, I'd be eating a bullet. Rich people of today are not in the medical profession. Check it out.

@user-rz8lc3zl7k 6 жыл бұрын

eric maurer ur a dumb ass you could’ve paid it off way earlier

@carolynclark1984 7 жыл бұрын

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

@tomnguyen3305 7 жыл бұрын

Med school ? 300k is nothing. You will pay it back in 1-2 yrs. I was in 530k debt to be exact. Cardiologist now but trust me you will recuperate that $ very quickly.

@BelieverofChrist7 6 жыл бұрын

It's not worth it

@BelieverofChrist7 6 жыл бұрын

doesn't matter. should have gone to a community college

@MsAakifa 6 жыл бұрын

BelieverofChrist7 you can’t go to med school at a community college idiot. They only offer undergrad

@jchidi 6 жыл бұрын

Hey Tom, can I have some money? I'm poor-__-

@Kymv8382 5 жыл бұрын

Exactly. THANK you for the common sense! If you tackle the debt head on and live modestly, it will be paid of in 2 years.

@LoveDaringGreatly 7 жыл бұрын

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

@lilrabbitcuz 7 жыл бұрын

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

@dannyt.6616 7 жыл бұрын

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

@nataliekennedy4113 7 жыл бұрын

With the success that God will bless you, it will pay itself off over time! It is a harsh reality to face at the moment but the career will be so rewarding. I love your attitude regardless! :)

@Tbeezer7 7 жыл бұрын

How did god bring her success? She worked for her success.

@ginagina1185 7 жыл бұрын

Tbeezer7 it sucks,it cost so much to better one's self. My doctor said his education debts got into over 620,000 and he spent 9 years paying it off, living like a bum. No hes a millionaire after 14 more years of work, but has no life. Always at work.

@nataliekennedy4113 7 жыл бұрын

I of course acknowledge that Jenny has worked really hard for her success. God honours hard work and I believe he will provide her many opportunities to earn income in order to pay off her debt! :)

@I_Died_2_Weeks_Ago 7 жыл бұрын

Just FYI - I'm a travel mri tech ( xray + mri school was $2,000 total). With 6 years of experience, I bring in $1,800/wk after taxes. 40% non-taxed. So, I pull in $93k net every 52 weeks. Just sharing this for those who like anatomy and technology, without the Doctor Debt.

@paradiseheaven 7 жыл бұрын

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!

@DrMursiMD 7 жыл бұрын

omgosh, like my heart drops every time I think about how much i am in debt!

@KandidlyKristenlove 6 жыл бұрын

Mursi Medical that’s why I’m so worried, but my mom says “if she had the chance to do it, she would despite the debt.”

@incognitos4342 6 жыл бұрын

She can pay it back cuz she's a doc she'll make lots

@incognitos4342 6 жыл бұрын

kzfaq.info/get/bejne/qqthopeT2qncYo0.html

@user-lu6yg3vk9z 6 жыл бұрын

Dark Horse 2000 they dont make loads of money espically in her case family medicine , which is the least paid. You got to think a good porition of her income gets taxed. Family Mediced Physician make an average of 150k before taxes. She lives in California with highest taxes, so about half her income goes to taxes. 150k drops to 75k. Lets say her student loans is about 3k per month. 3k time 12 months is 36k. 75k-36k =39k. Now on to living expenses. 2 Bedroom apartment in southern california average around 2,000 k/month , so 24k. 39k-24k=15k. Out of the 15k goes to other bills food, car expenses, cable/internet bill, water and garbage , ect. She also has kid and her kid costs money. Dont believe the hype.

@user-lu6yg3vk9z 6 жыл бұрын

Kandidly Kristen dont believr the hypr. Read my comment below I break down the fiances.

@BoltCRNA 7 жыл бұрын

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.

@violetk6212 7 жыл бұрын

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!

@zoeliam 7 жыл бұрын

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.

@XDunLoVed 7 жыл бұрын

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!

@miriamfischer1983 7 жыл бұрын

That is why I cant get over the amount of unfairness that you have to go through and have no other choice but to deal with it. I live in Germany and we dont have to pay almost half a Million dollasrs to be able to attend med school..and i am 100% sure that america is missing out on so many intelligent and talented young people that would make amazing doctors, but just arent able to afford it. Wishing you and your New little family a blessed time together And much much love from saxony!!

@valdomero738 7 жыл бұрын

Here in America people go to med school only for the money. On the other hand, they'd be insane not to do so. I think that in Europe in general doctors do not make the astronomical salaries our docs make, but hey also don't have debt up to their ears so I guess it balances out.

@DeepSeas.. 7 жыл бұрын

"They can't just pull that away from you." Unfortunately, they'll do whatever they want and get away with it.

@salma31000 7 жыл бұрын

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

@marias3786 7 жыл бұрын

In Portugal, Europe, medicine university is 6 years, 1000€ each year.

@Drzeezy 7 жыл бұрын

True that :)

@Harmonikaklange 7 жыл бұрын

Maria S and in Ethiopia is 35.00 a year

@kevinfranzen9733 6 жыл бұрын

I am an older student who just started back in school with hopes of getting in medical school. If I get into a DO school I could be $350k in debt and 47 at graduation. I would like to consider a DO route and FP or IM yet these facts make it so hard. Yes, this may never be my case. Illustration is FP making say $180k post residency for the first year then working toward that average of $210k the responsible think is to live on $60k until loans are paid off while if working in a place that does a 401k match contributing the max that way this younger FP doctor is being loan and retirement responsible. Once the loan is done than said doctor can add more to lifestyle like better home and vactions, cars and so forth. Just food for thought.

@Evolette09 3 жыл бұрын

Kevin Franzen,did u get into the medical school?I am 40 and planing to go to Europe to study.

@kayp4601 5 жыл бұрын

The huge debt is why many pre-med majors are applying to PA school instead of becoming a MD.

@mike112693 4 жыл бұрын

yep its a big reason

@TheEckoEcho 7 жыл бұрын

NO pain No Gain

@sphporsche355 5 жыл бұрын

Yea she ganna feel that pain for the rest of her life

@twistedsno6734 7 жыл бұрын

RN programs where I and my wife live cost 13k she has a BS in another field that was paid for with scholarships so once she's done with RN she will move into a RN to MSN track to become a nurse practitioner in only four years three as of this date. the MSN will cost us $20k which is 33k in total for both. my advice be smart and find ways to pay for school while you're going to school. my wife will only owe $20k after her MSN because we are paying for her RN program as she goes. Most nurse practitioner here make $70k-90k so 20k debt wont hurt us an we should be able to pay it off fast.

@sgordenier 6 жыл бұрын

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.

@claymanwayfaerer 7 жыл бұрын

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.

@OliveHazyMama 7 жыл бұрын

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!

@shannasalvatore2631 5 жыл бұрын

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.

@lilianegrace4048 5 жыл бұрын

I’m in high school and aspire to be a doctor and every time someone mentions how doctors become doctors for money I get upset because no, doctors become doctors for all the reasons but the salary. So many people don’t understand just how bad med school and undergrad debt are and it takes so long to get that Dr. before your name. Also, let’s not mention the CRAZY hours people have in residency. Doctors become doctors because they truly want to because those who seek the money usually give up. Just saying.

@rickelmonoggin 7 жыл бұрын

Nice way to treat the people whose job it is to save our lives.

@zhizhixoxo 7 жыл бұрын

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

@jem0521 7 жыл бұрын

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 🙂

@GraphiteRose 7 жыл бұрын

that is why i love my country. med school ia free for most students. those who don't get the required marks have to pay a tax of like 600-700$ a year and you have to pay it in that year, not after you finish. so when you finish med school you are debt free :)

@Absaalookemensch 7 жыл бұрын

Excel in grades, have a US citizenship, no criminal background then you can apply for the Military medical school program. You will have a service commitment afterwards, but it can be worth it.

@samarm.8060 7 жыл бұрын

30000$ !! I feel so lucky because we don't pay universities. in fact, universities pay their students 300$ every month!!

@hoshiistar3322 7 жыл бұрын

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

@simplydee2567 7 жыл бұрын

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

@bigbaby4584 6 жыл бұрын

Don't forget about the interest added to your debt.

@Eman1900O 7 жыл бұрын

This is a big reason why I've decided to go the CRNA route

@Drzeezy 7 жыл бұрын

What is CRNA?

@Eman1900O 7 жыл бұрын

Dr. zeezy Certified Registered Nurse Anesthetist

@justtoolit6051 6 жыл бұрын

One of the best routes someone can take in my opinion

@lilsamantha1 7 жыл бұрын

Wow i have 13000 in debt and that scares me. I cant imagine 100,000+

@ashlieleavelle 6 жыл бұрын

It is so expensive. Dave Ramsey has a great plan to pay off debt. Live frugally, and do a debt snowball.

@Kymv8382 5 жыл бұрын

If you're specializing in surgery or anethesth. then it is DEF worth it. Start paying your loans back during residency, don't put it off! When you get out of residency, you should be netting at LEAST $300k a year. When you get out of residency, CONTINUE to live on a residency salary. If you do that, you can literally pay your debt off in 2 years. $300k a year, live on $50k a year, your debt is gone in 24 months. The problem is, doctors get "doctoritis" and they get these big contracts and start buying all sorts of crazy things when they have TO MUCH debt. Pay off the debt first, once you do that, you will be living large.

@xoxoxoxo2828 7 жыл бұрын

Oh no, Jenny did you consider joining military ? They will pay up to 120k for you loan plus pay you like around 80k and up for residency ( each year). There may be more $$$ incentive ( like specialty too ) but I am not sure how it works as a resident but definitely worth looking into it. All the best. Assuming that your residency is 3 years than you own them 4 ( for the first year it is 2), and additional each is 2.

@drjennale 7 жыл бұрын

+xoxo xoxo With our current president, if I join the army, I might end up going to war 😳

@xoxoxoxo2828 7 жыл бұрын

I see, and you don't want to miss time with your son. You may end up going to the war but it is in a secure area and you wouldn't be put in any danger. I am just thinking about going this route but I don't have kids ...

@drjennale 7 жыл бұрын

+xoxo xoxo It's a good route. They recruit you during first year I believe. The idea has been brought up a couple of time with my family years ago, it's just not something I pursued.

@xoxoxoxo2828 7 жыл бұрын

Yeah, I have a plan to join now but it is a different route. I still have organic chemistry to take before I apply to dental school ( i graduated from accounting) . And i will have my dental school paid because i will use my GI bill and my husbands and it look like i will get out of dental school debt free but it will take me 2 years more to get where I want.

@xoxoxoxo2828 7 жыл бұрын

All the best Jenny

@shwxmb 7 жыл бұрын

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 жыл бұрын

+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 жыл бұрын

OoO Thanks for the quick reply, good to know!

@ometofu 7 жыл бұрын

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

@skittless3949 7 жыл бұрын

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

@thomashcullen8669 7 жыл бұрын

Money should be banned, and no debt should exist. To accommodate this, careers and nations should end

@huutiainen9393 6 жыл бұрын

It's just unbelievable to me that you have to pay this much for education since it should be free everywhere.

@jacquelinepayne4737 6 жыл бұрын

****FYI*** Hit up “ His and Her Money”. They spotlight a couple who had a combined debt of 560 thousand for medical school. They paid of their debt in four years. They go into details about how they paid off the debt. Now some of their fellow doctor friends are doing what they did because they were not sure they were serious about how quickly they were actually making progress and now the two are debt free. They also took out money for invetro fertilization treatment. It’s worth a look. You maybe able to do what they did.

@Legal.Knievel 7 жыл бұрын

My husband's undergrad interest is about $10k, the interest was like 21%. Thankfully, I had an academic scholarship, so I don't owe anything.

@SaratAnimation 6 жыл бұрын

$321,000 DEBT! My God! My head is dizzy.

@sidharthchand8072 7 жыл бұрын

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

@RyanAmplification 5 жыл бұрын

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.

@lidyasolomon5557 7 жыл бұрын

People are sick, taking advantage of us like this!

@yoleeisbored 7 жыл бұрын

im asian, knew an asian guy who was pressured to go to med school by his parents... he committed suicide.. sad..

@ashleycosta1894 7 жыл бұрын

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

@Antimedal 6 жыл бұрын

I think the debt part is what scares me the most about med school. I know I want to be a doctor. I'm just starting my first year of college. I'm in my 20's and never thought of college as an option because I'm broke and my family has always been broke... I'm just worried that when I do get into med school what happens if I fail out when I'm a couple years in or so how the hell would I pay back a loan that massive when I've always just barely got by before...

@corollarollas 7 жыл бұрын

if you make over 100k a year coming out of med school, some even making over 200k the only factor stopping you from finishing paying off your loans would be yourself.