Medical school loan repayment tips
“My wife is a urogynecologist lucky enough to get through her seven years of residency plus fellowship with “only” $124,000 of student debt. When we discussed how we were going to get rid of this debt, she had always assumed that it was going to take a couple decades to pay off.
With our combined income, we certainly could’ve lived like paupers and extinguished her loans rapidly. However, I knew a strategy that involved extreme deprivation after her long years of training could grow old and not be successful.
Instead, we targeted a repayment period of fewer than five years instead of 10 years or more. We focused on cutting our spending in three key areas that I typically see trip up physicians more than any others.”
Travis Hornsby is a chartered financial analyst.
He shares his story and discusses his KevinMD article, “3 ways to cut years off your medical school loan repayment period.”
Did you enjoy today’s episode?
Rate and review the show so more audiences can find The Podcast by KevinMD.
Subscribe on your favorite podcast app to get notified when a new episode comes out.
Click here to earn 1.0 AMA PRA Category 1 CME for this episode.
Also available in Category 1 CME bundles.
Powered by CMEfy – a seamless way for busy clinician learners to discover Internet Point-of-Care Learning opportunities that reward AMA PRA Category 1 Credit(s)™. Learn more at about.cmefy.com/cme-info
