[Magdalen] US Higher Education

[Jay Weigel]

I think my brother the doctor may have gotten some of his medical school
debt forgiven by putting in 3 years with the Indian Health Service
following his intern year. I know he got a year knocked off his residency
by Virginia Mason Hospital in Seattle.

ISTM that one way the government could do a lot for both the VA and young
MDs with debt would be to forgive a percentage of it in return for the
doctors signing on to the VA for a specified amount of time, say, forgive
25-30% or so for 7 years and more for a longer period. Maybe 50% for 15
years. They could consider the same for nurses.

On Tue, Jan 13, 2015 at 11:44 AM, Cantor03--- via Magdalen <
magdalen at herberthouse.org> wrote:

>
>
> In a message dated 1/13/2015 8:32:19 A.M. Eastern Standard Time,
> michaudme at gmail.com writes:
>
> Much is  written about people finishing college with heavy debt,
> unlikely ever to  pay off their loans easily. Our Senator Warren
> speaks about this often. It  seems to me like a modern example
> of indentured  servitude.>>>>
>
>
> Interesting take on the student loan problems.  I'm especially
> aware of the burden of student loans, having taught medical
> students from a variety of medical schools for nearly 50 years.
>
> It strikes me that the average senior graduating from USA medical
> schools has a loan dept of $150K and many over $200K.  Then
> they have to endure low salaries as resident physicians for 3 or 4
> years before they are launched into their own medical practice.
>
> Statistics repeatedly show that USA physicians' income has
> dropped noticeably over the past ten years, and so the new
> physician is confronting a massive dept at the start of practice
> where their salaries are less than they have been in the past.
>
> This dept drastically delays marriage, having children, and the
> purchase of major items such as home and autos.
>
> Such debt is relatively new.  For example, I had no debt when I
> finished medical school, and paid for most of my education/training
> by working summers.  That's impossible to do any more since the
> educational expenses have ski rocketed.
>
>
> David Strang.
>
>
>