From SDN - paying off loans

[nds1111]

Just thought this was interesting & impressive.

 

http://forums.studentdoctor.net/threads/paying-off-340k-in-loans-in-7-months-after-graduation.1147048/

 

 

[Acebecker]

One of the few tangible benefits to going to medical school - making more money.  There is no arguing that once you have that "MD" behind your name you can make money hand over fist if you're in the right specialty (and heck, sometimes even when you're not). 

[Reality Check 2]

I lack the intrinsic discipline to pay things off like that. My weaknesses overcome me - like going out to eat or having a new vehicle every 7 years. 

I admire his dedication and perseverance.

 

We could all learn something from that, I am sure.

 

I am so far out of school that my debt isn't the problem anymore - it is kids going to college and trying to manage 2 houses - trying to be a landlord for the first time and enjoy some small rental income that will increase with time and be something for retirement.

 

Thanks for posting - very interesting.

[EMEDPA]

very doable. a good md friend of mine paid off 200k of loans in 2 years by not living extravagantly. no new car. kept resident appt, etc. now takes off 3 months/yr to surf.

[Guest Paula]

Dave Ramsey has great advice.  I've read a book he wrote years ago.  I am debt free too.  (However, didn't have nearly the debt medical students and some PA students have).

 

Where there's a will, there's a way. 

[tunafish]

very doable. a good md friend of mine paid off 200k of loans in 2 years by not living extravagantly. no new car. kept resident appt, etc. now takes off 3 months/yr to surf.

 

It is a great story and it makes me even more sad seeing so many posts here of self-bashing how new grad or not so new grad is "non-profitable for the clinic or practice" and therefore should settle for $35/hr. This dude was a resident and was making 5K a weekend. I just do not see the clinical acumen and extreme efficiency in patient care there... we should be better than this!