SoFi Blog

Tips and news—
for your financial moves.

8 Doctors Share Exactly How They’re Tackling Medical School Debt

There are lots of good reasons to become a doctor. Being a physician means you can help people in one of the most direct ways possible: By doing your best to restore their health. An added bonus is you can eventually make hundreds of thousands of dollars a year doing it; Medscape’s 2016 physician compensation report found that the lowest-earning doctors (pediatricians and endocrinologists) bring in around $200,000 a year, while the highest earners (orthopedists and cardiologists) make over $400,000.

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4 Money Tricks Doctors Can Use to Pay Down Student Loans Faster

It’s no secret that the average doctor is saddled with tons of student loan debt when starting practice. In fact, according to the Association of American Medical Colleges, the average doctor graduates medical school with $190,000 in student loans—6x the national average.

Having a strategy to quickly and efficiently pay down your student loans is critical to long-term financial success, so we’ve put together a few personal finance tips and tricks for doctors to help them pay down student loans faster in 2017. These tips are relevant to all doctors, regardless of specialty or income.

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