“Medical school is so expensive.” It’s a comment that, as a medical school student or someone considering going to medical school, you’ve probably heard more times than you care to remember. It may be because of the truth of the statement that those planning a career in medicine would rather not dwell on it. Back in 1992, the average medical school student graduated with $25,000 in debt. Today, the average medical school student will graduate with at least $150,000 of debt and a quarter of all graduates will have nearly $200,000 of debt. While those numbers aren’t pretty, there … [Read more...]
Saving When You’re in Debt
Financial resources can become extremely difficult when you’re in debt. For many, the thought of saving money during these times is not in the picture. However, it is important to do so. Emergency funds may be needed at any time, which includes when you’re in debt. For instance, an unexpected slew of medical bills, home improvement costs, or car repairs can put a strain on anyone’s budget. But if you’re unprepared and in debt – that makes for a highly complicated situation. The best way to do this is to make room in your budget. It might not be much, but if you can transfer an … [Read more...]
Options to Manage Debt
Obtaining debt relief may seem impossible when you are drowning in debt. The reality is there are various ways a person can shed debt, even when it’s accumulated in high amounts. Some of these options can be more harmful than others. Still, there are options available to people who are in desperate situations because of debt. Filing for bankruptcy may be the best option for someone overwhelmed with debt. It can offer a means to erasing your debt while you rebuild your finances over an extended period of time. The main drawback to filing for bankruptcy is it remains on a person's credit … [Read more...]