According to the Association of American Medical Colleges (AAMC), about 81% of medical school grads are walking away with an average medical school debt of $183,000. Because of the high incomes physicians make, many people (new medical school graduates included) think that their loan repayment is something they can easily handle.
However with ever increasing costs and significant declines in physician reimbursements from Medicare and Medicaid, some doctors are finding trouble paying off loans without accruing tons of interest. Physicians still accepting Medicare and Medicaid patients are expected to see reimbursement rates drop as much as 21 and 43 percent, respectively.
A Numbers Game
Let’s put this into perspective with some numbers. Let’s
However with ever increasing costs and significant declines in physician reimbursements from Medicare and Medicaid, some doctors are finding trouble paying off loans without accruing tons of interest. Physicians still accepting Medicare and Medicaid patients are expected to see reimbursement rates drop as much as 21 and 43 percent, respectively.
A Numbers Game
Let’s put this into perspective with some numbers. Let’s