Managing Student Loans: Doctors

As you might imagine, doctors exit their education with a lot of student loan debt. This debt load is exacerbated with the elongated timeframe between graduation and becoming a practicing physician. These intervening years are extremely important for managing debt over the long haul. Doctors will generally take one of two pathways in dealing with their student loan debt. The first is payoff outright. The second is loan forgiveness in its many forms, most notably Public Service Loan Forgiveness (PSLF). Luckily, most doctors will make a very respectable income after training is complete. In other words, they have options other borrowers do not in terms of payoff. This does not mean, however, that mistakes will not be costly. In fact, since doctors are working with larger loan balances, missteps can easily cost thousands.