FPMD Residency-to-Fellowship Transition Financial Checklist

FPMD Residency-to-Fellowship Transition Financial Checklist

As we near the end of June, tens of thousands of medical students and residents have already or are getting ready to move to their next stage of medical training. Whatever your transition may be, this represents another milestone in your long journey to becoming a fully-fledged physician. While this is a time of excitement and hope, it can also be a period of chaos and confusion. It is important to take a moment to reflect on your personal finances. Let me share with you some of the items I'm currently working on as I prepare for my transition to fellowship.

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Splash Financial - Making a Splash in Medical School Debt

Splash Financial - Making a Splash in Medical School Debt

It's been some time since I last wrote about student loan refinancing. One reason is there hasn't been a lot of changes in student loan management strategies. The threats to PSLF by the Trump administration has yet to materialize so I continue to recommend to all medical graduates to strongly consider PSLF to help repay their student debt. Another reason is there hasn't been a lot of changes to the student loan refinancing industry. Many of the names are entrenched - SoFi, CommonBond, Earnest etc. and only one (Laurel Road) specifically targeted medical student loans. Today I want to introduce a newcomer to the medical student loan refi industry - Splash Financial.

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GUEST POST: Student Loan Repayment Assistance Beats Sign-on Bonuses

GUEST POST: Student Loan Repayment Assistance Beats Sign-on Bonuses

For major healthcare organizations, sign-on bonuses have long been a recruiting tool for enticing the best and the brightest doctors, nurses, and specialists. A lump sum paid directly to the new hire shortly after on-boarding is a smart way to show how invested an employer is in the new employee and his or her success on the job.  According to the Medicus physician recruiting firm, nearly 90% of physicians hired through the firm received a signing bonus last year, up from 68% in 2015.  On average, a sign-on bonus for a new physician is $24,802. However, employers may benefit in attracting top talent through student loan repayment assistance programs rather than sign-on bonuses in the near future.

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2017 Update on the Cost of an American Medical Education

2017 Update on the Cost of an American Medical Education

One of the urgent issues facing medicine today is the prevention of physician burnout and depression. There are many factors that contribute to physician burnout and to tackle them all would be impossible in a brief blog post. However, I agree with STAT News that an important contributor to tackle is debt and financial stress.  Let's review the cost of medical education in America.

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Top 10 Sites to Save Money on Interview Travel

Top 10 Sites to Save Money on Interview Travel

Well it's that time of the year again! Many FPMD readers are now jetting across the country in search of their perfect residency or fellowship position.  Last year I wrote a post about Money Saving Tips for Interview Season. Instead of rewriting the same post over and over again each year, I want to put together this "evergreen" article so new readers won't have to dig through the archives. This will be nested under the "TOP 10" menu in the navigation bar.  Here are my top 10 sites to save money on interview travel.

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Studentloans.gov Repayment Estimator Walkthrough

Studentloans.gov Repayment Estimator Walkthrough

The Department of Education runs this great website - Studentloans.gov. Apart from offering all the information you would ever need (or want) to know about student loans, it also hosts a fantastic online calculator - the Student Loan Repayment Estimator. It has been such a great tool that I have been telling all of medical students to check out the site. However, I keep getting back a lot more blank stares than I anticipate. So let's do a quick walkthrough of this amazing free tool.

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3 Lessons from Mayweather vs. McGregor

3 Lessons from Mayweather vs. McGregor

Last weekend's spectacle fight between Floyd Mayweather and Conor McGregor came and went.  You may have heard of the staggering sum of money involved in the the match, with a guaranteed minimum purse of $100 million going to Mayweather and $30 million going to McGregor.  Don't shed any tears for McGregor though, his guaranteed minimum was still 10 times higher than the previous UFC record of $3 million (also held by McGregor).  Here are 3 lessons to be learned from this historic fight.

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8 Financial Perks of Being a Medical Trainee

8 Financial Perks of Being a Medical Trainee

Sometimes it seems like the only financial perk we have as resident physicians is the ability to commiserate with other residents about how little we get paid.  It's even worse for medical students - you're shelling out big $$$ for the privilege to provide free labor to your medical school and training hospitals.  But all is not lost.  Here are 8 financial perks of being a resident physician (most also apply to medical students).

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Why Students Should Go to the Cheapest Medical School

Why Students Should Go to the Cheapest Medical School

Future Proof MD has long been a blog for medical students and residents.  Today I want to expand on that audience just a little and speak to those aspiring college students who are looking to commit to career in medicine.  There are many considerations that go into the important decision of choosing a medical school.  I hope to share with you my admittedly biased opinion.  The following post also represents my first article as a Doximity Fellow.  You can read the entire post at Doximity Op-(m)ed.  An excerpt is provided below.

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