Need Advice for New Doctor and $250,000 worth of medical school loans


Hello USAA Community,


I am in need of some advice.  I graduated medical school, completed a 4 year residency, and a 1 year fellowship.  I am finally out and work as an independent physician.  I am also struggling with what the best approach is to pay off my $250,000 worth of loans for financing my education.   I am currently renting a house and do not plan on buying for quite awhile, as taking on new debt would be disastrous.  Another big concern is my family has been faced with infertility and in order for us to have a child, we need to utilize a gestational carrier, which could cost $100,000 or more.  We have already gone through the IVF process and have frozen embryos, with all of the medical costs associated with that paid. (thank the lord).  What advice could anyone give me as far as a schedule to pay down the medical school debt and secure a loan for $100,000 for a GC?


Medical Mary


Take a look at Dave Ramsey's books regarding paying off debt. Also, get a real job.
You are already carrying to great a debt load. Adding to that the cost of bringing a child into the world at this time is irresponsible.
Hi Dr. I'm a 77 yo retired anesthesiologist who trained at UCSF long ago after a 4 yr Naval Reserve stint, visiting Vietnam 5 times but never shot at thank God. My advice is simple. Relax, have faith in The Lord who got you this far along. Take great care of your patients and build your reputation. Be patient, love your husband and jump through any open doors of opportunity. The rest will become clear.
Dr. Art
Dr, you need to start opening your private practice serving patients with compassion and start making money to plan , start paying your student loan,and
consult or hire someone to manage your practice. I do consulting and help offices to triple or increase office revenues for years. I trained office admin/clinical teams to be efficient, fast, productive ($$$) . Patients refer patients after patients after being treated with tlc, quality and extra miles treatment from team members. "I can help you :) "
Dr, start from a 1-2 exam room to save overhead/rent...then slowly expand.

Medical Mary,

First, congratulations on your completion of medical school, your residency and fellowship! What an accomplishment!  Due to the nature of your post, I believe a specialist can better answer your questions. I encourage you to check out our financial planning services here at USAA. You can learn more about them by contacting our team of Financial Advisors at 800-771-9960.


Best of luck in your new practice and starting a family.