Law degree bubble=real estate bubble.

[wuapinmon]

This is becoming a big discussion in medical schools as well. Outside of a state school where tuition is relatively affordable, many students are entering residency with $200,000+ student loan debt.

Most of my friends from Tulane have between $150k-$200k in med school debt.

Crazy. I think the federal government should pay for med school (competitively) for the best candidates, in return for a few years of public service (a la the military).

[Surfah]

Most of my friends from Tulane have between $150k-$200k in med school debt.

Crazy. I think the federal government should pay for med school (competitively) for the best candidates, in return for a few years of public service (a la the military).

Don't they already if you enlist?

[Jarid in Cedar]

Don't they already if you enlist?

Yes. I have several friends who have gone this route. The payout is not all inclusive, but they start out financially on a better plateau than many others.

[Surfah]

This is becoming a big discussion in medical schools as well. Outside of a state school where tuition is relatively affordable, many students are entering residency with $200,000+ student loan debt.

Couldn't this be said of a lot of continuing education and post grad opportunities?

I have friends with huge debts from grad and doctoral degrees with a fraction of the earning potential of doctors and lawyers.

[Jarid in Cedar]

I have a high debt burden - but I knew what my job prospects were at my specific school and I did the math to make sure we could make it work. And we can. (The fact that I wonder if we'd be happier with no debt and less money is a discussion for a different day).

But many places are as expensive with worse job opportunities. What then?

(And it should be noted that tuition at my law school has grown much, much, much faster than inflation).

I came through relatively debt free(instate tuition + a good scholarship) so I don't complain much. The other issue for many with a high debt burden is that they start into the work field later in life and have less time to pay it off, and save for retirement, etc.

[TripletDaddy]

This is becoming a big discussion in medical schools as well. Outside of a state school where tuition is relatively affordable, many students are entering residency with $200,000+ student loan debt.

wow, that is incredible.

My BIL is in med school right now in grenada at some school or other. He comes back to the states this summer and has to take an exam for people that went the foreign med school route. I have no idea how much it costs to go to those schools but if it is even half of that, sounds very expensive to me.

[Jarid in Cedar]

wow, that is incredible.

My BIL is in med school right now in grenada at some school or other. He comes back to the states this summer and has to take an exam for people that went the foreign med school route. I have no idea how much it costs to go to those schools but if it is even half of that, sounds very expensive to me.

IIRC Tuition for the Carribean schools is similar, but I think they end up with higher debt due to travel, living expenses, etc.

[TripletDaddy]

IIRC Tuition for the Carribean schools is similar, but I think they end up with higher debt due to travel, living expenses, etc.

I was under that impression, as well. iirc, he went for one year out there to get some sort of Masters degree. then 2 years for med school. now he is coming back to the states to work at a hospital in new jersey, but I thought you had to go to school longer before you took off to work at a hospital. As usual, I am clueless.

I hope when it comes time for him to get a job that he will still have good opportunities despite his Caribbean educational pedigree. That is some serious debt load. And I assume it will be more loans that will help subsidize their next few years on the East Coast.

What test does he take this summer? Is it to basically make sure that students from foreign schools meet minimum competency? Or is it the medical exam (boards?) that everyone has to take?

Maybe he can take a job in some rural ER. I hear they often pay people good money to move out there and work.

[Pheidippides]

Yes. I have several friends who have gone this route. The payout is not all inclusive, but they start out financially on a better plateau than many others.

Speaking of which, does anybody know the loan repayment policies of the CIA, FBI and Secret Service? I am entirely serious.

[Surfah]

Speaking of which, does anybody know the loan repayment policies of the CIA, FBI and Secret Service? I am entirely serious.

FBI is $10k/year for first 3 years. Not sure what is needed to qualify.

Edit: Also if you have any sort of default on a student loan insured by the fed, don't bother applying.

[MarkGrace]

Speaking of which, does anybody know the loan repayment policies of the CIA, FBI and Secret Service? I am entirely serious.

No, but the Secret Service came to recruit at our school. The pay was much better than I had anticipated (they claim to be the highest paying of the federal protection agencies).

[Soccermom]

I came through relatively debt free(instate tuition + a good scholarship) so I don't complain much. The other issue for many with a high debt burden is that they start into the work field later in life and have less time to pay it off, and save for retirement, etc.

JIC, just curious. How hard is it to get scholarships to med school? I always thought they were highly competitive, especially at the U.

[Surfah]

No, but the Secret Service came to recruit at our school. The pay was much better than I had anticipated (they claim to be the highest paying of the federal protection agencies).

The secret service sucks for many. My neighbor is secret service and we had a friend who was a part of the White House detail. Neither are happy. If you want to chase counterfeiters it's cool. It is the highest paid though starting.

You can make a nice living as an agent, but you won't ever be rich. You can't have any supplement income either from a side business or anything. This is a big pet peeve of my dad's. They want the best and the brightest and there are a million barriers to entry and then they pay them like crap.

[TripletDaddy]

No, but the Secret Service came to recruit at our school. The pay was much better than I had anticipated (they claim to be the highest paying of the federal protection agencies).

we have an FBI agent in our ward. she is pretty attractive and stakes out terrorists during the week. I once asked her if she ever ran to her car and slid across the hood to the other side. When we came home from Church, my wife was annoyed that I asked that and said it was inappropriate.

[Jarid in Cedar]

I was under that impression, as well. iirc, he went for one year out there to get some sort of Masters degree. then 2 years for med school. now he is coming back to the states to work at a hospital in new jersey, but I thought you had to go to school longer before you took off to work at a hospital. As usual, I am clueless.

I hope when it comes time for him to get a job that he will still have good opportunities despite his Caribbean educational pedigree. That is some serious debt load. And I assume it will be more loans that will help subsidize their next few years on the East Coast.

What test does he take this summer? Is it to basically make sure that students from foreign schools meet minimum competency? Or is it the medical exam (boards?) that everyone has to take?

Maybe he can take a job in some rural ER. I hear they often pay people good money to move out there and work.

You will see all of the foreign medical schools that cater to American students "outsource" the last 2 years to hospitals in the states. In general, the first 2 years of medical school are classwork, hardcore science(biochem, anatomy, etc). The second 2 years are spent working on a medical team (intern, residents, attending docs). At most traditional schools, your 3rd and 4th years are spent at the same location as your first 2 years.

I am assuming that the test he is taking is the USMLE Step 1. This is the test that all medical students have to take upon completion of the basic sciences. Everyone must pass this test to graduate, but it may be that he has to pass it to be able to even start his 3rd year rotations. If you fail this test 3 times, you have to start medical school from scratch(I know someone who went to Grenada that this happened) :yikes:.