Most physicians between the ages of 60 and 69 years took one to five years to pay back their medical school student loans after starting to practice medicine, according to "2014 Work/Life Profiles of Today's U.S. Physician," released by AMA Insurance.
The survey includes responses from 4,950 U.S. physicians. The survey was conducted in October 2013.
When asked how long it took them to pay back their medical school student loans, physicians between the ages of 60 and 69 years reported the following:
• Still paying back debt — 3 percent
• 1 to 5 years — 53 percent
• 6 to 10 years — 32 percent
• 11 to 15 years — 9 percent
• More than 15 years — 2 percent
10 Ways to Improve Collections at Medical Practices
7 Ways to Earn Respect, Rather Than Demand It
The survey includes responses from 4,950 U.S. physicians. The survey was conducted in October 2013.
When asked how long it took them to pay back their medical school student loans, physicians between the ages of 60 and 69 years reported the following:
• Still paying back debt — 3 percent
• 1 to 5 years — 53 percent
• 6 to 10 years — 32 percent
• 11 to 15 years — 9 percent
• More than 15 years — 2 percent
More Articles on Practice Management:
28% of Orthopedic Surgeons Currently, Plan to Participate in ACOs10 Ways to Improve Collections at Medical Practices
7 Ways to Earn Respect, Rather Than Demand It