Slum-Doctor Millionaire
Some people are fortunate enough to live in a country that provides free (or very cheap) medical education to its citizens. Other people living in the U.S. are fortunate enough to have parents who can pay for their medical school tuition. For everything else, there’s financial aid. I happen to fall in the third category myself. When I made the decision to begin medical school, I quit my job and moved to another country. Since then, I have been living off of financial aid loans.
For all of you out there who also fit into the financial aid category, I’m sure you can appreciate the woes that are involved with living off of loan checks. Perhaps the biggest struggle for me is that I had actually worked full-time for over ten years before starting med school. I know what it is to “work hard for my money.” I understand the pressures and stress of working in the real world, but I also know how nice it is to have a steady paycheck. For me, one of the biggest challenges of med school has been reverting back to a “student” living off of loans, rather than an employee bringing home a paycheck. In many ways, I feel like I’m leeching off of the system. I’m sure all you other med students in your clinical years also find it ironic that that we students go to “work” at the hospital, but actually pay for this privilege, rather than getting paid.
Another big obstacle with living off of student loans, is that you never really have quite enough money. Although I make a budget and try to live cheaply where possible, I always end up short at the end of the month. I wonder how all of you out there in the same boat manage to live cheaply during med school. Here are some fun tips that I have found useful:
1) Soup is my friend. Cans of soup are cheap, and I can get ones with veggies (albeit not fresh) to satisfy my nutritional needs. It also requires only minutes of prep time.
2) I help myself to extra napkins at cafeterias and eateries. This might seem silly but when you run out of toilet paper at the end of the month, it’s no laughing matter!
3) I try to limit going out to eat or other types of expensive entertainment options. This seems to be the most challenging part for me, because I love eating sushi and staying out late in the city. But when your schedule involves crazy long hours at the hospital, or studying every hour of the day, this is certainly easier to do.
4) I live close to the hospital! I am sure I have saved thousands of dollars by living within a twenty minute walk of my hospital. I don t have to pay for gas, subway fare, or car maintenance. I also get a free work-out every day!
Finally, what’s perhaps the worst part about living off of loan checks? Paying it back! I am close to horrified about the amount of time it will take me to pay off all my student loan debt. When you add in the interest, the total number of payments is quite astounding. It’s actually so scary, that I cringe when I even think about it (which is why I try not to!)
Yes, as a physician, I will someday hopefully make a reasonable salary. After all, that’s why they say med school is an investment. And I guess like any good investment, it can take a long time to see the rewards.
My name is Kendra and I am a newly minted doctor about to begin my residency in Psychiatry at 
