MtoM #179: Internist Receives PSLF and Finance 101: Money and Med School

Jul 15, 2024

An internal medicine doc discusses receiving PSLF and having $300,000 in loans forgiven. They emphasize intentional job choice at 501(c)(3). Topics cover financial struggles in med school, loan forgiveness process, and sacrifices for PSLF qualification.

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ANECDOTE

Background: Heavy Borrowing For School

Earl borrowed heavily for both undergrad and private medical school and used some state-linked scholarships.
He relied mostly on loans plus limited family and community support during training.

ANECDOTE

Forbearance During Residency

During residency Earl was in forbearance because he couldn't afford payments in a high-cost region.
He only began making payments after finishing residency when his income allowed it.

ANECDOTE

Learned About PSLF From A Colleague

Earl learned about PSLF from a friend during residency and then consolidated to pursue it around 2014–2015.
He regrets that his medical school didn't inform students about PSLF earlier.

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This internal medicine doc just received PSLF and had almost $300,000 of loans forgiven! He said he was very intentional about looking for a 501(c)(3) institution when choosing a job. He feels so much freedom now that his loans are gone. After the interview we will talk about money and med school for Finance 101.

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