4 Reasons More Banks Should Refinance PGY’s

1.       Doctors are the least likely to default on their loans. Low risk lending. Doctors are an honest hard working bunch. The default rate of debt/liability of doctors is a fraction of that the average population. Low risk lending. This

5 Reasons to Not be a Doc, If You Wanna Be Rich.

Perhaps I’m preaching to the choir. It’s not hard to know that you are poor when you are in you 35 without a house, with a 20 year old Honda accord, without money in retirement savings, and with a student

Morbidly Obese & Morbidly Malnourished

Today, we did (6 moths ago) a fluoroscopic upper GI series on a patient, my age, who’s 700 lbs. I was so depressed when I saw her entire bare back with excess subcutaneous adipose tissue hanging in rolls behind her

How Doctors Can Stop Living Paycheck to Paycheck

I was inspired by Passive Income M.D.’s post on Why Doctors Live Paycheck to Paycheck (P2P) and would like to offer some suggestions to live the other end of the lifestyle spectrum of P2P. I lived P2P once, in college and in

How I Paid off My Student Loans at 30 as PGY1.

I hate debt with a vengeance. It all started when I was about 5 years old. I became aware of the dire financial situation my family was in. Debt collectors paid daily visits at our apartment door. I was scared

16 Ways to Minimize Debt in Medical School

This post is inspired by a MS3 who wrote me, wondering how she could minimize debt while not having a job in medical school.   Hi! I just started reading your posts and they are very helpful. I am a

How I Pay My Student Loans Using Passive Income by Passive Income M.D.

[Passive Income M.D. has great insights to add to the physician blogger scene. Enjoy his guest post below! We have no financial relationship.] As physicians, we’ve all felt the crushing weight of the almighty student loan. Some have felt it

Credit Card Companies Offer Credit Watch, Free!

The era of having to pay $19.99/mo to monitor credit score &  activities is gone! Credit card companies are offering free credit score and selective credit activity details let & right. One can get great sense of his/her credit health

Be a Student Loan Terminator. (PMD2)

Do you have student loans? Won’t you love to destroy them and be debt-free? What would you do with the cash flow you free up once your student loans are paid off? I’d like to invite you to join me

Is Revised Pay As You Earn (REPAYE) Repayment Plan for you?

    For larger or printable view, click Here. Benefits of REPAYE Plan The REPAYE Plan enables 5 million more Direct Loan borrowers to cap their monthly student loan payment amount at 10 percent of monthly discretionary income, without regard to

PETE Q&A PT 1

Q1. I applied to DRB with my current income of $0 with current debt, I got denied. Should I have put my future PGY1 salary on my application? A1. Yes, PGY 1 income. Q2. Refinancing vs. Fed payment with PSLF?

MEET PETE

Recently a reader reached out to me for custom advice. I am always glad to help whenever I can, and so although our discussion was tailored for his unique situation, I thought I would share it here to potentially benefit

DWM Grand Rounds #1: Doc-to-Doc on Personal Finance

DWM Grand Rounds #1: Doc-to-Doc on Personal Finance

Title: Doc-to-Doc on Personal Finance & Physician Support Initiative   Highlights: Student loan management Public Service Loan Forgiveness Maximize Tax Efficiency/ Investment Return Physician Support Initiative P.S.I.   Date & Time:                                                              Location: July 6th, 2016 12-1 pm        

How I Take Charge of My 375k Student Loan

How I Take Charge of My 375k Student Loan

The following is a Q&A guest post from a good friend of mine, who wishes to be anonymous. We have no financial relationship to disclose. Here’s a list of great lenders to refinance your student loans with. (Note: by using

How I Accelerated My Student Loan Payoff

I charge all my expanses that are chargeable onto my credit cards and funnel my (limited) cash flow towards debts with interests. There are lots of variation in terms what can be charged on a credit card. Some people’s circumstances

10 Weapons to Terminate Your Student Loans.

10 Weapons to Terminate Your Student Loans.

  Do you have student loans? Won’t you love to destroy them and be debt-free? What would you do with the cash flow you free up once your student loans are paid off? I’d like to invite you to join

Better When I’m Debt-Free (Dancing)- Meghan Trainor Remix

Better When I’m Debt-Free (Dancing)- Meghan Trainor Remix

Mini introduced Meghan Trainor, a talented singer/song writer, to me a few weeks ago. I’ve been listening to her music all the time since. Trainor has a positive, confident, welcoming energy about her. I admire the unconventional lyrics and melodies she writes.

The Day I Started with Nothing…

The Day I Started with Nothing…

I will always remember how dreadful it seemed when I learned that my cost of attendance for 2010-2011 (first year of medical school) was about 90k… I’ve never made 90k a year prior to starting medical school (in fact, I still

Mini’s College Fund, 529 Qualified Tuition Plan: Intro Part I

Mini’s College Fund, 529 Qualified Tuition Plan: Intro Part I

  Mini is finishing 3rd grade this year. In another short 9 years, she will be heading to college. I should have started her college savings yesterday, but like most PGY’s, I took care of my own student debt and

Revised Pay As You Earn (REPAYE) or Refinance?

Revised Pay As You Earn (REPAYE) or Refinance?

This is an in-depth discussion about whether to go for Revised Paye As You Earn (REPAYE) or refinance your student loans with private banks like DRB or LinkCapital. Reader wrote: “My current thought is if someone wants to stay and