Budgeting & Financial Planning Archives - Page 5 of 5

public student loan forgiveness for doctors

Pros and Cons of Public Service Loan Forgiveness for Doctors

By Michael Jerkins, MD MEd / Budgeting & Financial Planning, Dental, Medical, Student Loans, Veterinary

Pros and Cons of Public Service Loan Forgiveness for Doctors Key takeaways: PSLF offers significant financial benefits to those employed full time by non-profit and government entities. Many doctors can get a headstart on fulfilling the required 120 PSLF payments while in residency. Those who pursue PSLF may encounter limited qualified employment options. Some doctors …

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Three Financial Mistakes ENTs Should Avoid

By Michael Jerkins, MD MEd / Budgeting & Financial Planning, Medical

Three Financial Mistakes ENT Should Avoid Key takeaways: Spend less than you earn. Pay off high interest debt before prioritizing investments. Don’t focus solely on paying off debt while ignoring other financial goals. Whether in the first year of practice or a tenured physician, otolaryngologists face unique challenges when it comes to their finances. Due …

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Corporate vs. Private Practice: Three Differences in Dentist Salary and Benefits

By Michael Jerkins, MD MEd / Budgeting & Financial Planning, Dental, Employment & Workforce Data

Three Ways Dentist Salary and Benefits are Different at Corporate and Private Practices Key takeaways: Private practice dentists earn more over time. Private practice dentists are more likely to be paid a salary. Corporate dentists are more likely to receive retirement and health insurance benefits. Preparing for a career in dentistry means more than just …

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Four Insurance Tips Every Doctor Should Know

By Michael Jerkins, MD MEd / Budgeting & Financial Planning, Dental, Employment & Workforce Data, Medical, Veterinary

Four Insurance Tips Every Doctor Should Know The past couple of years have left many of us with anxiety, fear and doubt. These trying times have helped many realize the importance of being prepared for unforeseen circumstances. Insurance is one of the most concrete ways to help yourself and your family be ready, no matter …

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Follow This Three-Step Process to Obtain Your Loan Payoff Statement

By Ned Palmer, MD MPH / Budgeting & Financial Planning, Dental, Medical, Student Loans, Veterinary

Obtaining your loan payoff statement is a necessary step to refinance your student loans. It can be a hassle, so we’ve simplified the steps to make it as easy as possible. First, you will need to determine your current student loan servicers. Then you’ll need to understand what’s in a loan payoff statement to ensure …

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What Can I Use a PRN Personal Loan For?

By Michael Jerkins, MD MEd / Budgeting & Financial Planning, Dental, Medical, Personal Loans, Veterinary

What Can I Use a PRN Personal Loan For? Becoming a medical professional such as a physician, dentist, or veterinarian is an extremely rewarding career path. But it can also be financially draining as you complete your schooling and transition into residencies and fellowships for several years. While the long-term earning potential is high, the …

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Biden Extends the Student Loan Payment Pause: What This Means for Your Medical and Dental School Loans

By Michael Jerkins, MD MEd / Budgeting & Financial Planning, Dental, Medical, Student Loans, Veterinary

Just the facts The automatic deferment of federal student loan payments with 0% interest is now set to end May 1, 2022. This pause on payments applies only to federal student loans, including most medical and dental school loans. It is unclear if this pause will be extended again past the May 1, 2022. Even …

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How Much Do You Make in Medical Residency?

By Michael Jerkins, MD MEd / Budgeting & Financial Planning, Match Day & Residency, Medical

How Much Do You Make in Medical Residency? Once you finish medical school, it’s time to embark on the next phase of your career: medical residency. This hands-on experience is a graduate-level step towards becoming a full medical professional with a license to practice. The length of your residency depends on your specialization. Expect to …

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Why Should I Purchase Disability or Life Insurance as a Medical Student, Resident/Fellow or Physician?

By Tyler Stafford, CFA / Budgeting & Financial Planning, Medical

A PRN loan is a personal loan tailored to medical professionals Fourth-year med students, residents and attendings are eligible Use the money to pay for interviews, exam fees and relocation A PRN personal loan gives you access to money when you need it most. Just as the name suggests, a PRN loan — pro re nata or …

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What Doctors Need to Know About Credit Scores

By Tyler Stafford, CFA / Budgeting & Financial Planning, Dental, Medical, Veterinary

Your credit score plays a big role in your life. Also known as a “FICO score” or “risk score,” your credit score is a tool that potential creditors and lenders use to help them decide whether to loan you money. But not only that: your credit score can also affect whether you get the apartment …

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Budgeting & Financial Planning

Pros and Cons of Public Service Loan Forgiveness for Doctors

Three Financial Mistakes ENTs Should Avoid

Corporate vs. Private Practice: Three Differences in Dentist Salary and Benefits

Four Insurance Tips Every Doctor Should Know

Follow This Three-Step Process to Obtain Your Loan Payoff Statement

What Can I Use a PRN Personal Loan For?

Biden Extends the Student Loan Payment Pause: What This Means for Your Medical and Dental School Loans

How Much Do You Make in Medical Residency?

Why Should I Purchase Disability or Life Insurance as a Medical Student, Resident/Fellow or Physician?

What Doctors Need to Know About Credit Scores

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