House bill would end PSLF, current to be grandfathered

[Zaphod]

Rogue Dad, M.D. wrote:

tex wrote:

Non-profit neonatology directly competes with megacorp neonatology in many markets, making for very similar job choices to the new indebted attending. So may not make too much difference to me. The ROI for most pediatric sub specialty training is much much lower, however – I imagine an increase in general peds in the near term.

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I agree.  For peds emergency medicine, some academic jobs are paying quite well compared to private jobs, but in my particular neck of the woods that is not the case.

In the not too distant past, I think peds heme/onc docs at my place were being paid in the low $100s. That’s improving, but that’s going to impact a lot.  Salaries will have to go up or people will not take those jobs.  I’m paid much better than that and it’s going up, thankfully.

It’ll definitely drive people to avoid peds fellowships with academic low paying jobs.  A lot of peds subspecialists in children’s hospitals are paid well below market rates.  Neonatology, like all of them, is very market driven.

My older brother is a private practice neonatologist, and the salary discrepancies between his current pay and academic jobs is pretty significant.

 

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Low 100s for ped heme onc? Can that be true? Couldnt do that emotionally, but to be paid so little for such a task...

[RogueDadMD]

tex wrote:

Non-profit neonatology directly competes with megacorp neonatology in many markets, making for very similar job choices to the new indebted attending. So may not make too much difference to me. The ROI for most pediatric sub specialty training is much much lower, however – I imagine an increase in general peds in the near term.

Click to expand...

I agree.  For peds emergency medicine, some academic jobs are paying quite well compared to private jobs, but in my particular neck of the woods that is not the case.

In the not too distant past, I think peds heme/onc docs at my place were being paid in the low $100s. That's improving, but that's going to impact a lot.  Salaries will have to go up or people will not take those jobs.  I'm paid much better than that and it's going up, thankfully.

It'll definitely drive people to avoid peds fellowships with academic low paying jobs.  A lot of peds subspecialists in children's hospitals are paid well below market rates.  Neonatology, like all of them, is very market driven.

My older brother is a private practice neonatologist, and the salary discrepancies between his current pay and academic jobs is pretty significant.

 

[tex]

StarTrekDoc wrote:

–interesting possible unintended consequences.

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Nice take. Anyone else care to forecast the effect of the end of PSLF in their area?

Non-profit neonatology directly competes with megacorp neonatology in many markets, making for very similar job choices to the new indebted attending. So may not make too much difference to me. The ROI for most pediatric sub specialty training is much much lower, however - I imagine an increase in general peds in the near term.

[StarTrekDoc]

May cause an acute deficit in academic fellowships for a year to get into PSLF status as a W2 attending--interesting possible unintended consequences.

Our surge in Academic primary care may be coming to an end with this.  We had a nice healthy crop of recruits in recent years because of the PSLF enticement over the private sector.

[jsr52]

Remember, PSLF was created for Public Defenders and Public Educators. Folks who have large student loans with low lifetime future income. Physicians got looped into this because of essentially a gross miscalculation. PSLF is not for people who will essentially be rich, so the clock truly is ticking for physicians to get grandfathered in.

[tex]

WSJ: House GOP to Propose Sweeping Changes to Higher Education http://archive.is/pTMe7 (to bypass paywall)

Text of bill, more details: https://edworkforce.house.gov/prosper/

 

Also capping amount of student loans. Could make a tough few years to be a med student with high debt, because I don’t see the med school “market” responding by slashing tuition in response to this in the near term.