where my immigrant neighbor making $15/hour unknowingly subsidized my now-radiologist classmate’s trip to Bali.
It does seem to me that there is something morally lacking in signing a master promissory note swearing to pay back a loan while explicitly planning to not pay back the loan. Government-sanctioned perjury, or something. But, I’d throw the first stone (or 10) at the government that condones it rather than those who take advantage of it.
I worked 2 jobs through medical school and lived in mom’s basement to keep loans to a minimum. A classmate of mine started school with less money (like, almost $0) went the PSLF route, took the maximum loans, and managed to visit 30 countries during medical school. I think PSLF is debatable for the social workers, teachers, and public defenders of the world (though I’d still object strongly). But, I think it’s just stupid within medicine, in which you have situations where my immigrant neighbor making $15/hour unknowingly subsidized my now-radiologist classmate’s trip to Bali.
Overall I sort of feel like the program really should be meant for the social workers of the world. That being said, you cannot always do much to reduce cost of a medical education. My husband had to sign something saying he wouldn’t work (outside of sponsored summer research gigs) throughout med school. A “living in your mom’s basement” type situation isn’t usually an option either. Not to say you cant try and keep those costs low, but how many med students have the choice to attend med school in their hometown?
I do think it is a great thing for primary care docs. Even specialists are are still paying in ~3-4 years at a rate determined by an attending salary . I’m assuming your now-radiologist classmate is working at an academic institution–he/she could be making $50-$150k (or more) a year elsewhere. We know for a fact that PSLF is solely what is keeping at least one attending where we are now.
where my immigrant neighbor making $15/hour unknowingly subsidized my now-radiologist classmate’s trip to Bali.
To be fair, most paying $15/hour aren’t paying much in the federal income taxes that pay for PSLF. Not sure what being an immigrant has to do with it either.
Yet again, more misinformation, assuming loan forgiveness is federally funded in all 501c3 organizations. What a load of nonsense. Pardon my strong feelings on the subject matter...
Make a student go to a loan officer at a bank and defend how he/she is going to pay back $300k in loans. If the school can’t keep the costs to a level that can be paid back, there isn’t a loan. Costs will come down REAL quick.
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Not sure this is true. 27% of students right now are graduating debt free. The alternative outcome (and admittedly the real outcome would probably be some combination of our two proposed outcomes) is that only the children of the wealthy can now become doctors.
Why is a basketball/football coach the highest paid individual of most universities or public job of the state.
Most of the politicians that are calling for high taxes on the rich are talking more about the uber rich. There’s probably less than a handful of people here that make more than $1M a year or have a net worth of $50M and we’re, as a whole on this forum, already in the 1% of society. I don’t get why facebook and others get mad at this idea as I’m sure none of those individuals would get effected by this tax. So the super majority of Americans wouldn’t get effected of this tax let alone someone making $15/hr.
Most of the politicians that are calling for high taxes on the rich are talking more about the uber rich. There’s probably less than a handful of people here that make more than $1M a year or have a net worth of $50M and we’re, as a whole on this forum, already in the 1% of society. I don’t get why facebook and others get mad at this idea as I’m sure none of those individuals would get effected by this tax. So the super majority of Americans wouldn’t get effected of this tax let alone someone making $15/hr.
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