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What is the most efficient, realistic plan for paying off medical school bills as soon as possible? Are there any specific known organizations that can assist with these bills in exchange for work or volunteering?

I for sure want to enter the medical field and am wary about my debt coming out of medical school. #medicine #phd #finance #scholarships #college #hospital-and-health-care

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Karyn’s Answer

Hi Elysia how very responsible of you for thinking ahead like this. I am familiar with 2 ways to expedite repayment of your student loans, that doesn't mean there aren't more just that I only have experience with two. 1) The military, if you are interested there are a variety of programs and ways to obtain your medical education and have it funded by the military. If interested you should speak to a recruiter, I'd recommend speaking to each branch so you know all your options. 2) After you complete your residency program and are interviewing for your 1st real job as a doctor you will negotiate repayment of your student loans. Some employers will do this some will not. A company may offer to pay them off but you must repay the company, you'd want to negotiate this as a 0 interest loan. Of course this is an option I am familiar with today, when you start interviewing for you 1st job as a doctor in around 12 years I am afraid I have no idea what the playing field will look like. Another factor is how much demand is there for your skill set. For example the market may be saturated with primary care doctors but there are not many fellowship trained neurosurgeons in Iowa. A hospital or group will be willing to pay/give much more to hire that neurosurgeon. get it? I hope this has helped and I wish you the best of luck.
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Jake’s Answer

Hi Elysia

great to hear that you are aiming to become a Medical Professional. Thats an excellent goal.

Medical school is expensive - no doubt but there are options to get an education that does not land you in a lot of debt.

1. F. Edward Hébert School of Medicine - https://www.usuhs.edu/medschool/admissions - does not charge a tuition fee. Instead there is a service commitment to serve the US Armed forces for a period of 7 years after graduation

2. There are a bunch of scholarships available for medical students based on different parameters. Here is the link to the site that outlines the different scholarships. Please go through each scholarship for detailed requirements and do the due diligence of validating the authenticity of each scholarship requirement.
https://nmfonline.org/about-our-scholarships-and-awards/programs/

3. Many states have their own loan forgiveness programs in exchange for committed service in health professional shortage area (HPSA). A good start is the AAMC database https://services.aamc.org/fed_loan_pub/index.cfm?fuseaction=public.welcome&CFID=1&CFTOKEN=1D549B61-9375-7DEB-608936D0157CB474

4. National Health Service Corps (NHSC) - https://nhsc.hrsa.gov/loanrepayment/eligibility.html

5. Many medical colleges will have their own scholarship and grant programs based on need and/or merit

Hope all this information helps you in making the right decision.
Good luck and best wishes in achieving your dream of a career in medicine.

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