Sponsored Links
Page 2 of 2 FirstFirst 12
Results 11 to 11 of 11
  1. #1
    Doctorintraining1980 is offline Junior Member 510 points
    Join Date
    Apr 2016
    Posts
    28
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Self Fund my Residency?

    Can I self fund my own residency? Or fund someone expanding or starting a small residency program?

  2. #11
    don1 is offline Senior Member 543 points
    Join Date
    Feb 2007
    Posts
    1,289
    Downloads
    12
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Advertisements



    I agree. This is impossible unless you have wealthy parents. I can not see any bank giving you that amount of money during residency. I have only heard of people from middle eastern countries funding residents and giving them a salary. Some programs go for this because they make a lot of money doing this and they get free resident work. The program also has to be big enough to service the learning needs of all residents.

    Quote Originally Posted by Med grad View Post
    Interesting idea! But I am not sure how practical this is unless you are wealthy or have rich relatives willing to help you. You have to pay the hospital and on top of that you need to fund your living expenses because you get no salary while in residency. Medicare pays hospitals about $100K per resident and about half of that usually goes to residents' salary and benefits.

    Then add this to the students loans you might have incurred for undergraduate and medical school and the amount becomes substantial so much so that it doesn't make any economic sense. The student loans accrue interest and if you find a way to borrow the cost of residency that loan too will start to accrue interest. The principal and interest on all those loans will eat up most of your after tax earnings. You can expect about $120K-$170K per year in salary if you are in primary care. You will go broke trying service all that debt while trying to maintain some reasonable standard of living.

    You should crunch the numbers and find a funding source to pay the hospital as most struggling medical graduates don't have that kind of cash sitting in their bank account. I doubt any hospital willing to do this will be willing set up payment plans. They want the money up front because they want to make sure they get paid first.

Page 2 of 2 FirstFirst 12

Similar Threads

  1. How to fund my studies?
    By Londoner7 in forum Polish Medical Schools
    Replies: 0
    Last Post: 08-17-2015, 07:36 AM
  2. How do you guys fund the school?
    By MDapplicant88 in forum Universidad Autonoma de Guadalajara (UAG)
    Replies: 5
    Last Post: 06-30-2011, 05:34 PM
  3. How did you Fund your trip to Ross?
    By acker004 in forum Ross University School of Medicine
    Replies: 3
    Last Post: 05-17-2011, 08:44 PM
  4. Electronic Transfer Fund
    By mikcek in forum Medical University of the Americas (MUA) Nevis
    Replies: 1
    Last Post: 03-11-2011, 02:10 PM
  5. How do Canadians fund their studies?
    By arcadil in forum St. Georges University School of Medicine
    Replies: 13
    Last Post: 09-28-2009, 08:35 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •