I graduated from med school with about $250k in loans from a private school. Paid about $1k per month while in residency to chip away at the interest. Lived within my means as a hospitalist out of residency, paid off all credit card debt & car loans first. Within 5 years, I paid off all my student loans. Key is to live within your means!!!
@Connetification5 жыл бұрын
I thought doctors make 50k a month? Is it not?
@tismchewy46815 жыл бұрын
@@Connetification 50k a month? No, Very few do but most don't make anywhere near that. Salary of doctors all depends on their specialty, experience, and location.
@azndragon755 жыл бұрын
@@Connetification Only Surgeon makes that kind of money.
@Connetification5 жыл бұрын
@@azndragon75 Nope. A neurosurgeon makes 80k a month in Canada. I am a nurse so I know this. Not sure about other specialties though. Nor do I know how much neurosurgeons make in the US. Canada pays doctors and surgeons well. The neurosurgeon I mentioned makes 960k annually. However, I don't know how much tax he pays.
@Connetification5 жыл бұрын
@Scott Joseph I don't know what a cap is. That's what the neurosurgeon said about his salary. Maybe he's lying. No one knows. But I believe it's real because our government publishes something called a "Sunshine List". Whoever makes over $100,000 a year will be enlisted. A pathologist makes $500,000 a year. They received bonus and other compensations. Therefore, I do believe a neurosurgeon makes 80k a month.
@ThexXpOiSoNgIrLXxehT5 жыл бұрын
I feel very blessed for living in an European country (Italy) which allows me to study Medicine even if I’m broke because I don’t have to pay ANYTHING literally nothing apart from books but for that I have a scholarship. It’s crazy you have to go through such big debts at the age of 20.
@logictd5675 жыл бұрын
ThexXpOiSoNgIrLXxehT don’t let Americans (capitalist) ruin that for you. Everything here in the US is done for profit
@wholeNwon5 жыл бұрын
Italy also has the oldest med. school in the world. There are several schools where instruction is in English but, of course, one must learn Italian well to communicate with patients.
@Dreamer-kd2jv5 жыл бұрын
You also get paid substantially less than we do so it’s a give and take. I’d say we still come out better financially. Loans don’t last forever, but a reduced salary does.
@chrisd67365 жыл бұрын
ThexXpOiSoNgIrLXxehT- it’s just short term pain for long term gain.
@Coliekokker5 жыл бұрын
But you want the cheapest medical bills right @MGTOW individualist
@XSimonY3 жыл бұрын
Graduated from an expansive in-state med school in 2014 with 300K. Was in PSLF during residency, made ~30 payments after 6month of deferral. At the end of 3.5 years of payments, only 4 payments qualified, which meant that I still owed 9 years and 8 months of payments. DO NOT count on PSLF, it is one of the biggest lies told to med students. At the end of residency, I owed $380,000. I refinanced, took a private job. Now just complete 2 of 7 years of payment plan. Factored $5,000 per month of loan payment into my budget, living comfortably but well within my means. Key points: Don’t trust PSLF Never trust PSLF Never, ever trust PSLF
@ricardosecondaccount88465 жыл бұрын
I'm not even a med student and this got me stressed😪
@phillewis31803 жыл бұрын
Like how could that guy fail boards in his last year without a retake of some kind and lose that investment.
@stemikger3 жыл бұрын
I'm a cardiothoracic surgeon and it can be done, just don't give up. Live within your means in the beginning and eventually, you will be debt free and be able to practice with a lot less financial stress.
@harvestingseason27252 жыл бұрын
Big respect to you. Do you have a life? I swear am genuinely asking. Cardiovascular surgeons work insane weekly hours
@user-lu6yg3vk9z4 ай бұрын
How about the guy in video flunked out with 400k. Can it be done?😂😂😂😂😂
@marensvare5075 жыл бұрын
It's so refreshing to have such a straightforward discussion about student debt and how to financially and mentally manage the burden. Thank you for the perspective! As an anthropology graduate, I of course finished with debt and entered the fairly low-wage field of museum work. It's rough, and I often find myself wishing that I had done something a bit more practical. Thanks for the reminder that all college grads have debt and the burdens that come with it - the grass may not be greener anywhere, but at least we're all in it together. Great video!
@BrandonMHughey5 жыл бұрын
Med schools be like: go into primary care. Med schools also be like: You’ll have 400k+ debt so you want to be in high paying specialties (non-primary care)
@trueorient15445 жыл бұрын
High-paying specialties also take longer to attain, therefore further accumulating debt. As a primary care specialist, you can pay off your debt in 4 years after graduating med school.
@marcjerkins19575 жыл бұрын
Be like...
@wholeNwon5 жыл бұрын
@@trueorient1544 During internship, residency and fellowship the physician earns a salary. The cost after graduation from med. school is the lost earning potential during post-doctoral training.
@user-lu6yg3vk9z5 жыл бұрын
Physicians pay is going down. Competition with midcare providers and A.I. is also any issue.
@TheGrafton125 жыл бұрын
@@user-lu6yg3vk9z and reimbursement from Private insurance and Medicare have gone down...
@accountforwastingtime5 жыл бұрын
I remember hearing that call and I was so scared for the guy! I think the best thing you can do is prepare the most you can before you get into medical school. Choose an affordable school for undergrad- a public university, preferably one you can use an in-state scholarship for. Work as much as you can and save as much as you can! Your undergrad degree can be really flexible- you can take online classes, night classes, classes mostly on Tuesday/Thursday etc and it really is possible to work a full time job. Yes it will suck but you're in school to invest in your future and your medical degree, not for the lifestyle. You will thank yourself later if you start planning financially as soon as possible! Also don't do stupid things like getting really expensive cars. Especially don't do this as soon as you graduate! Once you do get your first medicine job keep living like you did in college and it will help in getting your debt under control. One of the big things Dave Ramsey points out is that he never goes to a doctor and asks them where they went to med school. I honestly don't even know where my pediatric cardiologist I've seen my whole life- and who has saved my life- went to med school! So remember that because you don't always have to go to the most expensive schools just for the name. If there is a reputable program at a smaller school and it feels right- and if it will save you tens- if not hundreds- of thousands, it might be the best choice! You can still get amazing residency and fellowship placements all the same! You'll build your career, achievements, and reputation from there. Don't let it become too easy to write off debt as not being a big deal while you're in school. Once you start having $200K in debt you might feel like well...what's another $30k? As soon as you're out of school and making those payments, plus rent, family costs, insurance, etc etc etc it will be a VERY big deal and things will get out of control fast. That extra $30k that felt like nothing to take out could mean an extra two years of desperately paying it off. Do a lot of research on what you could be making in your first five years or so out of school in the areas you may want to live in. You won't get rich as fast as you might think. A LOT of the Dave Ramsey med school debt horror stories actually got so bad once the students graduated college and went crazy spending money like they were rich...even though they really had a negative networth because of the school debt. They graduated school, got $55K cars, $800K houses, went into $30K in credit card debt...instead of just living within their actual means. Which, a lot of the times would have been very possible with just some self-control. Try to be as financially smart as you are book smart ;)
@user-zj9kw9lh1i5 жыл бұрын
very true .
@Victoriaxx085 жыл бұрын
Also I wanted to add, my dad has been a doctor for 35 years, he’s 60 this year and he’s still stressed about money. We’re in Ontario, where his wage is steadily DECREASING with government cutbacks. Obviously providing your own retirement fund takes discipline and also running your own practice is very expensive (rent, nurses and staff wages, licenses). So although it seems like doctors make a lot of money, family doctors (in Canada any way) isn’t all that lucrative anymore. My dad has never felt financial freedom despite his frugality, so definitely don’t become a doctor for the money.
@tokee12345675 жыл бұрын
yea in Canada becoming a family doctor is not that lucrative by any means. I see many doctors going to become hospitalists as a GP, but they work crazy schedules (7 days in a row + on call in a 2 week schedule)
@aimeesaunders18805 жыл бұрын
I don't know much about the situation in Canada, but being a doctor in Africa with the workload and poor resources, the money is definitely not worth it.
@noface39285 жыл бұрын
My dad’s an orthopedic surgeon but only takes home half of what he makes. I’m worried he’s going to overwork himself paying off all his debts.
@tellthetruthna85235 жыл бұрын
@@noface3928 Your father will be fine. Don't worry.
@tellthetruthna85235 жыл бұрын
@7/11 WAS A PART TIME JOB For some people medicine is a calling. If it is only about the money they should do their future patients a favor and become investment bankers instead.
@doctorshawn34615 жыл бұрын
I've been a staff specialist physician for almost 4 years. You need to live cheap, and you pay your loans back VERY fast. After a few years, money isn't the issue, it's your quality of life. I work 11 hours a day and already feel burnt out, and I am only 43, single and have no life...pretty much your job is your life...it's the sad truth. If you think you'll be able to keep all your hobbies while you practice think again. I am in the process of trying to get my hours cut back for less pay. It's all about trying to find the right work-life balance.
@monday24713 жыл бұрын
11 hours a day???? are you in surgery?
@amberj39413 жыл бұрын
Sad truth
@CeceDeAnn3 жыл бұрын
I work these hours at a call center except I chose this on purpose. The more hours I get out of the way the more I get to enjoy my days off. I feel burnt out because my job is meaningless even though I’m a manager but I feel being a Pediatrician would definitely be better for me
@Bookwasbetter2 жыл бұрын
@@monday2471 my friend is registered nurse, and she works twelve-hour shifts five days a week.
@AD-wb5eg2 жыл бұрын
Totally. After years of working long hours it is common to find yourself looking for a work-life balance.
@OmarAbdulMalikDHEdMPASPACPAPro5 жыл бұрын
Peace be to you! Thanks for sharing this information. I don't think many students (especially singles, under 25), understand how much money you need JUST to LIVE and support a family. One study suggested $130,000 for a family of four. I can tell you that children are a BIG unknown variable which can cost thousands for health coverage and education. I am very privileged to receive an income as a Hospitalist Physician Assistant in Washington which allows me to support my wife and four children. However, as kids get older, there are more financial demands, (e.g. college, school activities, etc.). I'm glad you chose the profession about which are passionate. I REALLY admire those folks who pursue MD/DO. I wish you all the VERY best of succes in your positive endeavors!😊
@sofiata21335 жыл бұрын
Hi Jamie!!! I just wanna let you know that I got into medical school. Thank you so much for all your videos. I’ve been watching your videos for years now and they’ve kept motivated. I can’t believe that I’m gonna start med school this year. Thanks
@sunnyyyyyyyy015 жыл бұрын
Sofiat A well done!!!! 🙌🏾🙌🏾 congratulations !!!!!!!
@Zoeleii5 жыл бұрын
I don’t know you, but I am so proud of you and happy for you!!! Congratulations and well done, you will rock it!
@sofiata21335 жыл бұрын
Sundus H thank you
@sofiata21335 жыл бұрын
Laiila thank you so much 😊
@monicaogunsusi50325 жыл бұрын
Sofiat A Congratulations! Class of 2023 represent!!! 🙌🏾
@mavischole96465 жыл бұрын
Medical education in my country is almost free. Having seen this video, I will never take it for granted. I will definitely work harder to be a good doctor.
@DrAdnan5 жыл бұрын
The KZfaq Med Queen has returned 👏👏👏
@raschied29295 жыл бұрын
I actually watched that yt episode few days back on Dave Ramsey's, my heart sank. 😭💔
@mariabarnova33895 жыл бұрын
I don't understand why your government doesn't take care of these payments. That must be incredibly huge pressure on students. We all know med school is stressful on its own, and with this debt burden, that must be overwhelming! I really admire that you are on this path anyways. ♥️ Take care!
@michella234985 жыл бұрын
Majka Barnová because it’s not every other taxpayer’s problem that someone decided to get $400,000 in loans.
@mariabarnova33895 жыл бұрын
@@michella23498 I see your point, but every taxpayer needs a good physician, right?
@meisnwjejn5 жыл бұрын
@@michella23498 lol shes a doc
@LIVEINPEACE20235 жыл бұрын
The govt can’t even take care of itself!!! 👎
@michella234985 жыл бұрын
Mehar B actually, I’m a nurse. And why does the fact that they have student loans make them any less of a doctor? They learn the same shit regardless.
@alejandramarmolejo13395 жыл бұрын
We missed you so much! 😍😘
@michaelscott62165 жыл бұрын
You can kiss your youth goodbye once you decide to go to medical school. Plus you only start to see cash flow without massive amounts of debt once you reach your 40’s. Not an ideal life, but someone’s gotta do it.
@yoleeisbored4 жыл бұрын
yep.. say goodbye to your 20s and 30s.... medical students have highest suicide rates..
@Sona77.3 жыл бұрын
That’s 😭 so sad
@user-lu6yg3vk9z3 ай бұрын
Not also Physicians are being replaced with mid-level providers and A.I.
@MyLifeIsTravel5 жыл бұрын
I like that in Russia I can study medicine for free, actually everything you can study for free if you have good school grades and exam grades. And I didn’t care about money. Just money to live in Moscow.
@noface39285 жыл бұрын
How rigorous is medical school in Russia? They should be paid more
@wholeNwon5 жыл бұрын
And it's free or very low cost in many other countries as well.
@ivelissesantiago98065 жыл бұрын
ITHEREONETHATHASNT ashamed? Because everyone can have an education? Tax pays for things that help everyone, like education. That’s better than in America where the orange they have for a president wants to buy a wall with tax payers money
@lastmakc5 жыл бұрын
Sure. And then you end up making $1/hour. Awesome, huh?
@musaninlebesi505 жыл бұрын
Yeah but you may be restricted to just working in Russia with way less pay than US med graduates
@benth1625 жыл бұрын
My grandson is going to dental school in San Francisco and had no idea how much everything is going to cost him. So, we took the liberty to help him understand just how much it is going to cost to establish his own practice, after serving his first few years working and learning the ropes as an employee of another established Dentist.. By the time he does start his own practice he will have put in almost $1,000,000. Just the cost of setting up your business can be mind boggling. That, added to the cost of his dental education he won't be left with much disposable income to purchase a home or start a family because he paying off huge bank loans. College is being outed as being no more than a scam that they use in conjunction with banks to suck as much money out their student body as they can, knowing full well that many of their degrees will not be able to afford their graduates jobs that will pay enough to repay their loans. I am heartened that those practices are being outed for the fraud they are. You must understand that student loans are now sitting at over a trillion dollars, much of which will never be paid back. Apprentice programs are far better than college or universities. By the time a man puts in eight years learning his trade on the job, he can be considered an expert in his field. That could also be considered for the those looking to become doctors. Working with a specialist as an apprentice will teach you just as much or more than that college graduate who must now figure out how to pay back those hundreds of thousands of dollars. The apprentice by the way, already bought his first home, got married, and has two children, while that college grad is sniveling in his beer, because he can't afford any of the niceties he expected. Either the university and college systems change or they will find that more and more capable young men and women will not be going to college, just because those college and universities have priced themselves out of the market and no longer offer an education worthy of what is being paid for it.
@deficator7504 жыл бұрын
Also dentist is ranked number 1 for highest suicide rates for a job.
@benth1624 жыл бұрын
@@deficator750 You're not even close and the health care professions only rank in at #15
@deficator7504 жыл бұрын
Rumple Stiltskin DENTIST. Look it up ffs
@StudyinSlovakia3 жыл бұрын
I would suggest coming to Europe, the cheapest tuition fees are in Italy (around 2500€ per year), with an average 12.000€ per year in central Europe. There are even study loans system for studying in Europe (monthly expenses are around 400-500€)
@ej_l25255 жыл бұрын
Doc Jamie I remember I first watch you way back 2016...I was in engineering back then and I hate every second of it because I was just forced to...therefore I wasnt enjoying at all...I didnt know who I am anymore but deep down I always wanted to wear that white coat with a sthetoscope....after a few years of praying..I finally had the guts to tell my parents...suprisingly..they said ok though I know it must be hard for them but now we are all okay and they giving me a chance and their support....Im preparing for my entrance exam for my pre-med this May and crossing fingers that I'll pass. Thanks for your videos doc! You inspired me a lot.
@Zoeleii5 жыл бұрын
Way to go to follow your heart! You will rock it!!!
@munky75 жыл бұрын
good luck on your exam!!
@dumilendlela12125 жыл бұрын
Ej_ L wassup am kinda in the same line here 's my email dumile.ndlela@gmail.com
@LordPrometheous5 жыл бұрын
With an engineering background, wishing to be in medical, I would probably go the prosthetics route. Anyways, I wish you the best.
@brittney19505 жыл бұрын
Just subbed I respect your honesty! I went to culinary school years ago. Graduated in 2010 with a culinary &service management from a private college. I had some scholarships but my total debt (not including living expenses) is $80,000. . Not including a car payment, health insurance. Still paying off the loans. 9 years later (2019) I’m able to put a dent more into my loans this year with my current employer. If anyone wants to be a chef.. you don’t do it for the money. Schooling is not required, you can work under a great chef & work your way up! Back to the medical field, I had no idea how expensive medical school is!! Great tips in this video!! Living frugal is key. Don’t forget putting money aside for Roth 401k and Roth IRA.
@lawyerdoctor5 жыл бұрын
I’m about to start medical school. I’ve been practicing law for 10 years with no student loan debt.....I couldn’t imagine doing anything else even with the loan burden for medical school.
@jayleemiller35945 жыл бұрын
currently in my first year of undergrad and I am just so overwhelmed with everything that goes into trying to become a doctor. Thank you so much for all of your videos!
@huangbochang53542 жыл бұрын
Your photos and posts are beautiful. The articles on your page are very nice and very bright it caught my eye and hope you don’t mind knowing much more better
@deannaalexis78685 жыл бұрын
Go to a medical school in a third world country. It is 5 years after a Bachelor's degree. My cousin took this route after graduating from UC Irvine and left the U.S to attend the University of Guadalajara Medical school. It is very easy and a lot less money. Then come back to the states and take your board exam. She has a dual citizenship therefore she did not pay international fees and her total cost of medical school was 7,000. She also lived in her grandparents home which was a great help. So many third world country degrees are coming over to the states.
@AaronTrillo5 жыл бұрын
I currently got to University of New Mexico! Haha glad to see we made an appearance! I expect to be around $150k in debt by the time I am done so hopefully I can pay them off FAST!
@pvnchos14785 жыл бұрын
Good luck nigga
@gdora19953 жыл бұрын
In Norway 🇳🇴 medical school is 100% free ,, in Germany 🇩🇪 medical school in 100% free, in Sweden 🇸🇪 med school are 100% free, in belgium🇧🇪 it cost 900 dollars a year if u r an eu national and 2000 dollars for international students.. Russia, China,Malaysia, Ukraine.. All cost less than 5000 a year.. And total years of medicine is 6 not 8 like the US.. US citizens are living in HELL thinking they are a developed country.. In dubai, Saudi Arabia and all gulf countries u hv to score 70% to get into medical school 100% free.. I live in Dubai. Universities here are 100 billion times more developed than the US.. In all these countries above medical residents earn 55,000 dollars a year and 200,000 dollars a year as an attending doctors but the difference is NO DEBT
@BigTroubleD2 жыл бұрын
@@gdora1995 well you know what not all of us are lucky to be born elsewhere ok
@BigTroubleD2 жыл бұрын
Honestly that’s cheap for a doctor.
@breianalawrence73882 жыл бұрын
@@pvnchos1478 … boy what
@catheosto5 жыл бұрын
I am not a medical student, I study Graphic design but I love watching your video and I admire you so much. I don't know how you do it all! You are awesome!
@akankshasubramanian72165 жыл бұрын
You've been my role model through medical school - always jump when I see you've uploaded a new video!!
@tonysamaniego78755 жыл бұрын
Emergency Doctor/Side Hustle Entrepreneur, I see. Love it
@donavanpham5 жыл бұрын
Hey Jamie, you inspired me to start my own channel about surgery residency - really happy that I'm almost at 1000 subscribers!
@Victoriaxx085 жыл бұрын
For those in Canada if you agree to work up north for x years the government will pay your tuition. And there’s a major doctor shortage in rural areas so there are some communities that will agree to pay for school so they can ensure they will have a community physician. Just a thought for some people!
@BenKlassen15 жыл бұрын
My brother makes $600k a year as a dermatologist. I'm glad somebody is rich in my family.
@richie52005 жыл бұрын
And how much of that is taxed?
@kawaiikoibito32684 жыл бұрын
@@richie5200 exactly
@user-lu6yg3vk9z3 жыл бұрын
Positive Vibe about half
@aalexander85 жыл бұрын
FYI, the Public Service Loan Forgiveness also requires individuals to sign up for the correct the income based loan repayment program. People were being denied for this reason, so definitely do the research. I wish I could find the Dave Ramsey debt free scream video that had an ER doctor. I believe she paid her loans and her mortgage off in 3 years by taking on non stop overtime shifts. It's a risk for you guys I'm sure, but we need quality doctors who are passionate about what they do. Best!
@JK202394 жыл бұрын
Income based repayment by itself is bad. Sure it caps your monthly payment; you pay a tax bomb on the forgiveness amount at the end of 20 or 25 years.
@carrieho5755 жыл бұрын
it is definitely scary with debt...especially when you fail// midst of trouble and not sure if you should continue school or just go into work..
@huangbochang53542 жыл бұрын
Your photos and posts are beautiful. The articles on your page are very nice and very bright it caught my eye and hope you don’t mind knowing much more better
@Zetsuke45 жыл бұрын
I'm a medical student in Thailand. Here, we got straight into medical college for undergrad without a required pre-med bachelor, then go into medical school with the partnered hospital. It's 6 years for me here, living expenses in Thailand is cheap, and tuition is not expensive. I'm planning to go to US or UK for an additional degree in PhD because I love research, I'm more passionate about research than being a physician, and I would love to become a faculty member here. Also, if I decide to not be a DPhil candidate then I would do Fellowships instead. It's easy here because we're getting a doctoral level degree in just 6 years after high school and it's not too challenging. Then, I can go to the US after getting my MD to get my fellowship. I do know the US does not acknowledge MD degrees from other countries as much, but it's still a medical degree and I plan to practice as a doctor or do research here in Thailand at my own homeland country. It's easier to get high GPA here as well. I'm so excited to go to Stanford after I finish, with my high GPA and not be in debt from all these years of saving.
@MiguelConcha9725 жыл бұрын
I was a banker for a neurosurgeon.. He made 25-50k a week. But paid over 30k a month in taxes.. So there's money In the field, depending where you want to work in.
@christinac11955 жыл бұрын
Jamie! I've been watching your videos since I was in college (almost 3 years ago). I'm starting my first day of med school tomorrow and will be sure to frequent your channel throughout my time here. Just wanted to say thanks so much! :)
@jimmylee65475 жыл бұрын
Obtaining my masters/doctorate was one of the worst decisions I made in my mid-twenties - it put me into serious debt...I was struggling financially and contemplating my life decisions for around 5 years. At the time, I was earning a lower-tier 6-figure salary and I clearly remember still struggling to pay off my student-loan debt. As much as that sounds hard to believe, it was a reality for me; I had amassed over 150k+ in student debt and mortgage which I was obliged to pay, all while juggling family life. As much as I cringe thinking back at my mid-twenties, I will admit my situation made me into a more capable person, however, I wouldn't wish it on anyone. Also, I've found that a standard college education is simply not required for many subjects in today's age, we have the internet at our fingertips virtually anywhere we go. It's a beautiful thing to have such a powerful tool at your disposal.
@mcrettable5 жыл бұрын
A lower tier 6 figure salary is a thing? lol
@kingkylie96555 жыл бұрын
principals on 100k salaries?? i don't think it makes u rich rich@@mcrettable
@mcrettable5 жыл бұрын
King Kylie wow really... I thought it was a lot haha
@HeavyMetal-jy4vj5 жыл бұрын
So you did exactly what everyone else does except possibly better? Geez this is why people hate millennials, you always need a sob story. 150K is legitimately nothing on 100K even if in California. Just stop having these unrealistic expectations like you'll pay off 150K in like one or two years. It could even be a 10 year debt but that is all worth it to have the life of prestige and wealth you will have.
@jackka825 жыл бұрын
@@HeavyMetal-jy4vj I think you're overreacting a bit here. The guy is just saying that going to graduate school wasn't the best choice, looking back. A PhD isn't necessary at all to make 100k+ a year. Something that is worth a 10 year debt to you obviously may not be for everyone else, millennial or not.
@ThomasAffoltertevis5 жыл бұрын
It happens. I went to law school, did very well and got a great job as I went into practice. But I hated it. Life happens. Unfortunately, you just have to use your best judgement. But do NOT spend your life in work that you hate. Even if it hurts to get out of it.
@DollyDomDom5 жыл бұрын
Thanks for being so transparent when I see these debt averages that are like 135K my heart always sinks it’s nice to know that you aren’t alone
@m1kek1m5 жыл бұрын
A helpful video. Thank you for addressing real concerns and not pretending we're living in a fantasy world and also for not just regurgitating the most common top 5 things that's often regurgitated if someone were to google "how do I pay off my medical school loans?" This is a helpful vid!
@328skipad25 жыл бұрын
i quit med school due to the costs. got a MBA and make more than a doctor now and work less than 40 hours a week. Yes I did love medicine but I am overall much happier.
@Donaelley5 жыл бұрын
What did you get an MBA in?
@user-lu6yg3vk9z4 жыл бұрын
He is lying. Pay for MBAs has gone down due to over saturation in the market google it.
@kristupasantanavicius90935 жыл бұрын
If I ask a bank for 200k loan to start a business, the bank would say hell no. But when a teenager comes and asks for that same amount so he can "study" liberal arts, the bank is "HELL YES"
@tismchewy46815 жыл бұрын
I don't think that comparison is valid, Research has shown that a college degree earns the graduate significantly more than a person with just a high school diploma, while a business is not a sure thing for a bank to get their money back. It's common sense.
@marklo62835 жыл бұрын
@@tismchewy4681 just stop it. A bachelors degree is worthless it's basically = to a hs diploma. You need much more than a bachelors degree.
@tismchewy46815 жыл бұрын
@@marklo6283 No, not at all. A Bachelor's degree is greater than a HS diploma in every shape or form, as long as you get it in a decent area of study. What do you mean by "You need much more than a bachelors degree?"?
@full-metal_jacob58585 жыл бұрын
Because of 6 little words.... "cant be forgiven" and "variable interest loan"
@guyeightyfour29505 жыл бұрын
Because you can file for bankruptcy on a business loan. You cant default on a student loan lol
@aaronnchan5 жыл бұрын
Hi Jamie, I am an undergrad on the pre-med track and it is extremely difficult. However, your videos really make me work harder and inspire me! As you already know it is a very long journey and I’m happy that you’re apart of mine! Please keep up the great content...love your videos
@moonrice5555 жыл бұрын
Why the hell would you want to be a doctor? There are other jobs where you can make good money and still look at yourself in the mirror.
@Justin-ev8nn5 жыл бұрын
moonrice555 To help people? Not everyone’s goal is to make shit load of money.
@moonrice5555 жыл бұрын
@@Justin-ev8nn To help people? HELP people? Most of them just give you drugs that end up giving you other health problems. They don't give you a plan to help you take care of yourself, they just pass out pills.
@Justin-ev8nn5 жыл бұрын
moonrice555 I see you’re one of those people. Lmao
@moonrice5555 жыл бұрын
@@Justin-ev8nn You made a wise choice. You could have tried to argue against what I said--or you could take a cheap jab and run like most online pussies with no point to make.
@kevinnguyen86125 жыл бұрын
I have many pharmacist friends, some MD's that are working 2 jobs, jumping from one company to another, and most of the guys in their late 20's or early 30's have gray hair. Expect to pay 3-4K a month for a minimum of 15 years.
@mariasevere5 жыл бұрын
Welcome back, I missed your videos!
@kman_345 жыл бұрын
If you live in a tech city, the average starting software engineering salary can be from 90-150k, and management positions + stock options can raise that to over 200k after 5 years. With the upward trend of technology jobs, its important to consider the career software engineering offers if you want the best return on investment from your degree.
@Justin-ev8nn5 жыл бұрын
Comp sci is the best college investment.
@Justin-ev8nn5 жыл бұрын
D Z my brother went a average state school and graduated with a comp sci degree is making 6 figures. But then again we live in California. Doctors put you into too much debt and most people who pursue medicine don’t care about money too much.
@Justin-ev8nn5 жыл бұрын
D Z Many people who pursue medicine do care about money but I would say most of them pursued it because of their passion to help. Money is rarely a first priority for these people. If there’s people who are only pursuing medicine for the high salary then I think they need to re-evaluate their life because it’s not worth the hassle to go through all of that school and heavy debt just for a high salary when there are other jobs out there that only require a bachelors and can still make 6 figures - business, comp sci, engineers.
@JK202394 жыл бұрын
Tech cities have higher costs of living. Rent or mortgages are about 2 to 3 times the salary. It negates the effects of higher income.
@aliceachaves5 жыл бұрын
Missed you!! And I'm feeling very lucky right now. I study in a public med school in Brazil, which means I study 100% for free. We all fear what our new elected president will do regarding education, but the opportunity I have had so far seems even greater after this video. Hope to see new videos soon!!
@mynameisjorick39985 жыл бұрын
Alice Chaves Wow that is cool free tuition!! Meanwhile, our president doesn't care about very important topics like education, and waste money on the unnecessary wall.. :(
@moonrice5555 жыл бұрын
Well, we need less doctors anyway. They're slowly killing us.
@huangbochang53542 жыл бұрын
Your photos and posts are beautiful. The articles on your page are very nice and very bright it caught my eye and hope you don’t mind knowing much more better
@lilrabbitcuz5 жыл бұрын
None of us actually know how 'easy' it is to pay off the debt. I work around othopods and even tho they are old men the average pay starts at 500K so you WILL pay off your debt in no time if thats what you do instead of buying fast cars and a big home. some of them acutally own airplans. One guy bought a house for 700k tore it down to build a garage for his cars and bought a house next to it. the money is there its just about what you do with it and what specialty you go into. Not to mention if you spouse was into medicine as well, you have one income paying of debt and live off the other. 50-60k a month is a LOT of money people dont even see in a year. if you mess over that you are sad lol
@seannguyen79245 жыл бұрын
I’m so happy that you finally made it as a resident! I remember watching you as a student for studying tips! :)
@renragged5 жыл бұрын
That's a whole lot of student loan debt... I'm so glad my friend's son got a full-ride scholarship to med school. He's got it going on.
@ARon825 жыл бұрын
I'm an MBA looking at $200,000 jobs and zero debt from school at 37yo, im so glad i changed my major from biology to finance.
@blackice2145 жыл бұрын
Haha Doing my MBA at SMU for 93k but only paying 10k becuase of of my job in finance ...make just short of 100k so it wont be a problem im just 25 too lol
@ARon825 жыл бұрын
@@blackice214 Med School isn't the ticket for easy big guaranteed money anymore, it all gets eaten up by school and insurance costs of being a doctor, you are broke into your thirties.
@blackice2145 жыл бұрын
@@ARon82 It use too be worth it but the tuition costs are just so high its a shame it isnt anymore
@ARon825 жыл бұрын
I guess don't be in it for the money then. I'm in it for the money, being an MD isnt for me.
@bencool82645 жыл бұрын
blackice214 hey I went on a college visit to SMU
@Ninjaman1955 жыл бұрын
One other option I'd recommend is having the military pay for medical school. They'll pay full tuition and give you a housing and subsistence allowance which will cover your cost of living.
@pajawallflower5 жыл бұрын
I was told that the military only covers 4 years of schooling.
@Pdmc-vu5gj4 ай бұрын
Yeah that's a long road. America is a nutty country.
@deww05 жыл бұрын
Thanks Jamie, it made me realize i should appreciate more that i don't have to pay for medical school in my country
@sanjanasolomon28895 жыл бұрын
I want to be a doctor and these videos inspire me to continue pursuing my dream.
@moonrice5555 жыл бұрын
Find another dream. We have enough pill-pushers in the US
@kathyd67143 жыл бұрын
Do it :) don’t feel like you’re alone in student loans , unfortunately to do these great professions and earn a great salary you need to borrow money, it’s an investment. Everyone is going through this & you never know if your loan will be forgiven or what kinds of programs you’ll apply to
@user-oe1nt4pp8n5 жыл бұрын
In Australia, any sort of payments made for educational purposes are covered by the government and no interest rates are applied to any students no matter if they are domestic or international students.
@llamalover59575 жыл бұрын
I dropped everything to see this ♥️ *WHOOOOT UPLOAD*
@Thedrcatwoman5 жыл бұрын
I’m an attending now. I was able to finish undergrad and premed without debt, and I think this helped a lot. If you are looking at colleges with a thought to med school in the future, take the college deal that will leave you with the least amount of debt. Don’t start med school with a preexisting mountain of debt if at all possible.
@karinbartov93883 жыл бұрын
FOR WHAT 400.000?!!! I go to med school in Switzerland and pay 750 per semester, in total 4000. My German boyfriend pays 320 per semester so around 4000 too in total. For what do you have to pay so much?
@dannyb2133 жыл бұрын
Jesus I cry just hearing that poor man
@Mandarene65 жыл бұрын
Omg that clip from The Dave Ramsey Show was terrifying. Leaving now to study for CK so I don't fail okay byeee
@jng83225 жыл бұрын
Your videos are wonderful. Thank you so much for continuing to put out high quality content 💛
@min-k26895 жыл бұрын
Yet those hospital admins gets paid $80k++ by doing NOTHING. This is where all our medical bill goes to. What a waste.
@alexnguyen65184 жыл бұрын
your videos really help this undergrad who's trying to get into medical school. Thanks a lot Jamie!
@anorangewithacapybaraunder23705 жыл бұрын
Thankfully here in Australia, student loans, especially for medical studies, are interest free. How much you pay is adjusted to suit inflation so you pay back exactly how much you've borrowed valued to the current dollar.
@anorangewithacapybaraunder23705 жыл бұрын
@@seriousgamerrr Very true, tax here is borderline robbery! the cost of living is also quite high compared to the rest of the world.
@BriBritton5 жыл бұрын
Thank you very much for posting this video! I recently checked in on the amount of debt I've accrued during medical school - and it was a staggering number! Thank you for discussing your experiences with money and finances from a medical student/resident perspective :)
@huangbochang53542 жыл бұрын
Your photos and posts are beautiful. The articles on your page are very nice and very bright it caught my eye and hope you don’t mind knowing much more better
@MystiC8602 жыл бұрын
That much debt/potential risk would probably make me so anxious/overwhelmed to the point where I wouldn't be able to study or function properly
@cloti66515 жыл бұрын
It's always so refreshing to hear you, Jamie, and this was such an interesting and useful video! We've missed you 😊
@ginnyweasley35155 жыл бұрын
Any debt, is a bad idea.
@Jason-ey5jc5 жыл бұрын
OMG JAMIE WELCOME BACK WE MISSED YOU SM 😭❤️
@kaitlinespanol60645 жыл бұрын
White Coat Investor is a great resource for financial literacy as it pertains to healthcare professionals!
@TheButterflyFairy5 жыл бұрын
Is it a KZfaq channel?
@kaitlinespanol60645 жыл бұрын
@@TheButterflyFairy Andrea Tooley did a KZfaq video interview with him a few years ago, but he is otherwise located on his blog www.whitecoatinvestor.com. He has also published a book under the same name that is helpful!
@kaitlinespanol60645 жыл бұрын
There was also recently a guest blog post about the plan a 1st year medical student has to graduate debt free!
@moonrice5555 жыл бұрын
@@kaitlinespanol6064 They could just sell drugs. That's what they'll be doing when they become a doctor anyway.
@kaitlinespanol60645 жыл бұрын
@@moonrice555 I appreciate you taking the time to comment your thoughts, however, I do not see how that idea is constructive towards the conversation?
@ratherbenapping105 жыл бұрын
To all the people commenting that you live in a country where your school is free: how much do doctors actually make in your country? Here in America your school is expensive but a doctors salary is one of the highest in the country due to our healthcare system and you can pay student loans back as well as have a luxurious lifestyle filled with giant houses vacations and nice cars. Honestly I don't think it can compare to other places
@user-rz8vp1bd2y5 жыл бұрын
Not every doctor is rich. Some only make like over 100,000 when u have restaurant business owners making like millions. So doctors have a good set of money but they arent making millions (unless your a physician and you work for a univeristy as a teacher)
@Trewertyyy5 жыл бұрын
@@user-rz8vp1bd2y business isn't so easy
@GamingTaylor5 жыл бұрын
Medical School Students are either "Blah blah blah loans don't matter I'll get a super high paying job" or "My parents paid for it, I'm going to be rich regardless" 200k+ of debt is really not a joke... If its navient/sallie mae at 6.8%, that's $13600 of interest a year, AND its not like medicine is an easy job... overtime is almost mandatory. After a billion years at school, its also VERY hard for a graduate who starts making 100k a year to live frugally.. most are going to take out more loans for a sports car and fancy house. Debt building and building while being a slave to labor.
@llamalover59575 жыл бұрын
Hey Jamie!!!!! I have a question. What website did you use to find the cost of those medical schools.....That would be super-duper helpful!!!!!
@havvanurozekici5 жыл бұрын
Dear Jamie, when I learned that you need to pay A LOT OF money to study in university in USA, I was very suprised actually. Because in my country, Turkey Rep., its free, except the private ones if you score less. Our education is good I must say, you can search the web. But the quality ones requires high test score and they are free. I would discuss about it for hours, for ex., Is it necesaary for everyone to study in uni? Whatever, my other shock was the moment that I heard 100$ for just an emergency service + an IV. USA is not a social- goverment obviously. By this word, please don’t think that I am happy in my area, I do not support my gov. anyways. Whatever, I wish you health, success and a easy path on the road!! Keep wellxx
@IYANULIVEOFFICIAL5 жыл бұрын
Glad to have you back Jaymie!!
@veronicabrito24934 жыл бұрын
An amazing alternative to save some money is going to study to South America. It’s way cheaper and it’s easier to get some kind of financial help.
@chucollin5 жыл бұрын
the debt is crazy!!!
@swong7515 жыл бұрын
I worked as Respiratory Therapist graveyard shifts and weekends to offset living expenses and minimized loans. Debt free after 10 years post med school.
@ax21083 жыл бұрын
turned off ad-block and watched the ad to help Jamie pay off her student loans, haha
@bettyangwenyi17973 жыл бұрын
You have a gift for narration. Thank you.
@jayrollo13525 жыл бұрын
OMG I saw that Dave Ramsey show too. OMG OMG. That was scary. You can feel the trembling in his voice.
@steakershocks2 жыл бұрын
What is the real cost? The real cost is 4 years of medical school 4 years you could have been working. 4 years you incur debt if you do go and become a doctor. You see a doctor aint a doctor till residency is complete that is finally when you get your handsome wage. You lets say you became a Nurse and you finished in 4 years. The doctor is still in school while you work. You as a Nurse make 60k hypothetically. That said Nurse can put her money into a roth IRA and 401k. Every year you wait longer hurts you in the long term. By the time the doctor finishes school inccurs this 200k debt. The Nurse will already have 4 years of money in a roth IRA. You might not think it is much but 4 years in a roth the money grows tax free and guess what that really adds up. Not to mention the psychology behind it. When the doctor starts working he/she will not be able to contribute to a roth ira they income of the doctor and ones S/O will be to high to contribute they will not be able to take advantage of the tax advantage accounts. More so the doctor will be in the highest tax bracket of them all as the money they earn in income tax. You pay the most in taxes with the larger invest imo. Being a Nurse is a far better reward and a better bang for your buck aka your time. The laws/taxes/med school/etc is stacked against being a doctor so why bother?
@layla199225 жыл бұрын
Missed you Jamie ❤❤
@AC-qo8oq5 жыл бұрын
90% of everybody in my family are doctors. They live in Europe and U.S. Obviously, in Europe they don’t worry about their debts, but my aunt makes over 250k working part-time (in U.S) and has no worries. You can refinance your loan for a lower interest rate too. My advise is to go into a speciality, don’t fail, or if you’re hesitant then become a NP.
@AC-qo8oq5 жыл бұрын
Ooh and they all have kids and their kids get plenty of attention, private classes and trips around the world 🌎
@yoleeisbored4 жыл бұрын
nurse practitioner is a good field i agree.. did your aunt have no life during school? over here in the U.S. medical students have highest suicide rates.. its awful
@AB-ko9en3 ай бұрын
Of course it can be done. I managed my husband‘s money and we were debt-free in three years. One of the problems is the government won’t let you pay for your school loans through your medical practice so they double dip on taxation if you choose to buy a house make sure that loan pays off your school loans and now you have property. but don’t keep piling on and don’t have a bunch of children and don’t get married
@thatbrokevin79402 жыл бұрын
How do students afford to live while in med school? In terms of food and room&board what do student loans cover?
@kiwifruitkl3 жыл бұрын
I think I am going to take the MCAT and HSK together so that I can apply for Medical School in China. Chinese Medical Schools are far cheaper than US-based medical schools, and if you take the Chinese-medium classes (which I have heard are torture for foreigners because they talk about medicine in only Chinese), you can receive scholarship, thus being cheaper than the English-medium classes. Hopefully, the MCAT will prepare me for the knowledge part of the med school, and the HSK will prepare me for the Chinese-language part of the exam. Once in medical school, I will probably have to memorize a shit ton of Chinese vocabulary, but they may help in taking the Medical Chinese Test. If everything goes well, then I may see myself as a medical doctor by 2028. By then, I would be a fourth-generation medical doctor through the maternal lineage. I think my specialist field is going to be neurology. Gotta use that bachelors degree somewhere!
@michellechu48115 жыл бұрын
Because we love helping our parents and couldn’t imagine what else we could do...💪
@meryemLux3 жыл бұрын
Thanks god I got my degree for free and I had scolarship to pay for transportation and books Studies are free in Morocco. I got a good quality education. With my degree and work experience I got offers in European countries and Canada I can't stand the idea of debt at the twenties, too much stress
@pgilemuelfulgencio15165 жыл бұрын
this is ridiculously high cost. I am currently studying medicine in PH cost about 600 dollars/sem.
@JT-tx2ns5 жыл бұрын
Great video. I just wanted to add how i hate the misconception that “friends” will automatically get a great paying job right out of college. People are struggling regardless of majors now because even in STEM, it’s over saturated and about who you know. So many factors go into this like location, health, etc. you aren’t safe, regardless of what career path you take. Even nurses can’t find jobs sometimes because many hospitals want nurses that have experience and I make more than some nurses and all i have is a biology degree
@JessicaGrey3 жыл бұрын
I need someone to explain why doctors have to pay to be doctors. Medical school should be paying them for all the hard work and sacrifice that they are willingly putting themselves through in order to help others.
@kaynenbrown51025 жыл бұрын
Missed you doc!
@rebeccathompson72045 жыл бұрын
she's back! i've missed your vids jamie!!
@sagarp20015 жыл бұрын
Hey ! You're awesome Jamie- literally g top KZfaq-Doctor role models! I'm a senior in high school and tbh I'm already stressing about all the debt. A lot of my cousins are already in the medical field and they had to take out so many loans. It's scary, especially bc debt is one of my biggest fears. Feels like you'd be digging a hole for yourself you know? But I mean I know that it's what I definitely, 100% want to go into. There's no doubt I'll get there- just the amount of time and money and overall huge sacrifice it'll take to get there. But yeah I'm starting college this fall so it's pretty exciting- taking it one step at a time and trying not to stress too much about med school right now! Thanks!
@kimaera5 жыл бұрын
Welcome back!! Eventho it's us-centric this helped alot with my decision :)
@vc6635 жыл бұрын
Also with loan forgiveness you have to pay 10 years of payments on time.. without having any deferments, along with working in public service for 10 years.. and then you can apply for forgiveness and pray you get it.
@NewBlueTrue5 жыл бұрын
V C Most people don’t get it.
@pixiewinxviera5 жыл бұрын
I've missed you so much, Jamie. Don't feel pressured to make videos, I might be interested in ER medicine. I want to try being no debt, I love you~