$500,000 in medical school debt: Is it worth it?

The average medical student graduates with about $150k-200k in debt according to AAMC. Dr. Webb speaks on his thoughts about whether it is worth it to become a physician and go into this much amount of debt.

Doctors account for the preponderance of six-figure positions in the country, according to government data. But it also takes between 11 and 14 years of higher education to become a physician. That means the typical doctor doesn't earn a full-time salary until 10 years after the typical college graduate starts making money.

That lost decade of work costs a cool half-million dollars, if you assume this individual could have earned just $50,000 annually, and the typical medical school candidate is smart and successful enough to earn considerably more. Add in the time and cost it takes to pay off medical school debt and a dissatisfied physician may well consider pursuing medicine a $1 million mistake. (This assumes the average $166,750 medical school debt takes 30 years to repay at 7.5 percent interest -- a total cost of $419,738.)

Source: http://www.cbsnews.com/news/1-million-mistake-becoming-a-doctor/

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Видео $500,000 in medical school debt: Is it worth it? канала Antonio J. Webb, M.D.