A survey of 500 millennial physicians found that 74% had significant debt upon graduation, with 44% owing more than $200,000. Those numbers are huge, but not that surprising, as the national outstanding student debt surpassed $1.5 trillion this year. On today’s Healthcare podcast, we’re going to look at how young physicians can move from debt reduction to asset accumulation and protection.
To help soothe all our financial nightmares, we spoke with Dustin Eldridge, a Certified Financial Planner Practitioner at Carter Financial Management. Eldridge believes the main reason young physicians are struggling with debt is due to lack of information. “I think one thing that’s lacking in almost all institutions, from a college stand point, is an education upon graduation [of] the options that you have to pay this debt back,” Eldridge said. He discussed some thing you probably didn’t know about your debt, how to efficiently and responsibly plan for it, and about some of the systemic issues that fail in provide students with the necessary tools for facing that debt.
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