Many of you know that I’m a fan of the sweet and informative podcast Your College Bound Kid. In recent episode 556, a student called in asking if she should change her career path away from medicine in light of the newest tax bill. Host Mark Stucker offered a deep-dive answer that I’d recommend. You can start listening at 9:55.
Blog Archives
Going to Medical School in the Shadow of the New Tax Bill
Tags: Medical Careers, Medical School, money, podcast
White Coat Investor Scholarship 2025 Applications are Now Open
Each year the White Coat Investor (WCI) offers a scholarship opportunity to students enrolled in full-time US professional schools. This year’s application opened June 1, and the deadline is August 31. Students must be in good academic standing in eligible professional schools, including medical, dental, law, podiatry, pharmacy, physician assistant, nurse practitioner, and veterinarian, among others. The stated goal of the scholarship is to reduce winning students’ indebtedness and to promote financial literacy in professional schools.
The lion’s share of the application is an 800 to 1200 word essay. There are 10 grand prize winners.
For more information please check out this web page.
Medical Debt Can Be Crushing
I recently saw a short piece in US News that reported that the average debt among medical school graduates who borrowed for their medical education was $184,000, excluding undergraduate loans.
There are many reasons to think hard about a career as a physician, and monetary ones are first or second on the list. For those with severe financial need, the AAMC offers their Fee Assistance Program (FAP). (Please note that I also offer a discount for those who have a current FAP grant.)
Most applicants, however, don’t qualify for the FAP and may be looking at hundreds of thousands of dollars of debt after they complete their medical education. For many reasons, make sure that a career as a doctor is the right one for you.
White Coat Investor Podcast Interview
Two years ago this week (which may seem like a lifetime ago), I was honored to be the featured interviewee on the White Coat Investor (WCI) podcast. For those of you who aren’t familiar with WCI, it’s a website/blog/podcast founded by James Dahle MD, an emergency physician whose interest in personal finance and the FIRE (financial independence – retire early) movement has sparked a slew of physician devotees. My interview focused on how Insider Medical Admissions helped me create autonomy and flexibility while balancing a clinical career and a family. Check it out here or on your favorite podcast app.
Tags: Career choice, money, podcast, White Coat Investor
White Coat Investor Scholarship Winners Announced
For the past few years, the White Coat Investor has funded a scholarship for full-time professional students, including those in medical, osteopathic, dental, law, pharmacy, nurse practitioner, physician assistant, optometry, and podiatry schools. The goal is to both reduce the winning students’ debt burden and spread “an important message of financial literacy throughout medical, dental, and other professional schools.”
This year’s first place winner’s essay is here. It’s great and worth a read. Second through fifth places can be found here. Keep your eye out for next year’s contest. The financial support is significant.
Dr. Finkel is a graduate of Stanford University and Harvard Medical School. On completing her residency at Harvard, she was asked to stay on as faculty at Harvard Medical School and spent five years teaching at the world-renowned Massachusetts General Hospital. She was appointed to the Assistant Residency Director position for the Harvard Affiliated Emergency Medicine Residency where she reviewed countless applications, personal statements and resumes. Read more
