Is Medical Doctor Debt Worth It?

Is Taking the Debt Worth of Becoming a Doctor?

Is taking Debt for Medical School Worth it?

The Cost of Medical School education is very high. In USA, if you join the Medical School than when you finish the medical school, you are in an Education Debt of $ 2,00,000.

Now, Doctors in USA earn $ 1,50,000 every year. And some speciality branches doctors earn as high as $ 3,00,000 every year. So at a first look it seems that taking this much debt is worth it. Because once you become a doctor, you can pay this loan in 3-5 years of time period.

Isn’t it sound Good?

But well, Still I think that this debt is not worth it even though a doctor can easily repay it within 2-3 years. This is because if you have invested the same amount of money in starting your own Business than it would have grown to multi-million or a Billion dollar business in a decade.

Remember, Lost money can be recovered but the lost time can never be recovered. Medical Debt is not bad because of it’s amount. But it is bad because of the amount of time it consume. In the same TIME any business could have grown to a Billion Dollar Business.

You have to take a Medical Debt for a decade. And after a decade, you still have to work 3-5 years to repay that debt. And after that you still don’t own anything except your medical degree. And you have to work hard for the rest of your life to make money from your degree. And suppose if you die or stop working, you have to loose that entire income stream.

But $ 2,00,000 invested in developing your own Business can develop a multi-million or a Billion dollar business in 10-15 years and after that you don’t have to work any more. And even if you stop working the Income from your Business keep flowing into your bank accounts.

A Business is something in which you can replace yourself. So a Business can run even without your presence while you can not replace yourself as a doctor. And that’s why it is advisable to develop your own Business rather than becoming a doctor.

Once you have your own Business, you can join the medical school in your later life also if you really love to become a doctor.

So in my opinion, Medical Education Debt is not Worth it at all…!!! Because It eats up your TIME & the lost TIME can never be recovered Back…!!!