Borrowers who are considering a refinance often compare the “printed” rates of their loans to the rates available from a possible refinance, without realizing that their actual current interest rate could be much lower than the printed rate.
Read MoreDoctored Money Blog
Introducing our new Discussion Forum!
New discussion forum for getting help and advice! Click on “Forum” in our main menu items to get there.
Read MorePSLF: On IBR? Are you eligible for PAYE? Here’s a flowchart!
You can save lots of money and get extra forgiveness for switching from IBR to PAYE, if you are eligible for PAYE. Use our flowchart to figure it out.
Read MoreTen critical financial items that new 2019 Physicians need to handle Right Now
Congratulations on matching! You have finally made it (almost) through medical school. Now it is on to your training and part of that training is going to be learning some financial essentials.
We have created a list of financial topics and actions you need to take ASAP to start things off on the right foot. These include things like: understanding your student loans, filing your taxes, consolidating your loans, learning about PSLF, making a budget, learning about investing and more. Check it out and share it with someone who needs the advice!
Read MoreAnnouncing: New Moonlighting and Taxes Page! PSLF Moonlighting "Tax"? Huh?
Those extra shifts you take may not be worth as much as you think. Check out our Moonlighting and Taxes info page!
Read MoreDoing resident taxes for the first time? See our newly updated "Taxes for Interns" Page!
Check out of tax guide for new medical school graduates aka interns who are probably preparing taxes for the first time. Surprised by your tax refund (in either a good way or bad way)? We explain why that happened, and what to expect for next year. Come learn with us!
Read MoreDid you consolidate a student loan in 2018? You can probably get a deduction on your taxes for student loan interest “paid”!
Did you pay any student loan interest during 2017? If so, you may be able to deduct this from your taxes and save some money. If you paid any interest, and your income (specifically your Modified Adjusted Gross Income) is less than $80,000 (single) or $165,000 (married), you can deduct at least a portion of your student loan interest paid. You must have some income in 2017 from which to deduct the student loan interest.
The maximum amount of the deduction is $2500. How much this saves you in taxes depends on your federal and state tax bracket. But regardless, if you owe any taxes in 2017, and you paid any interest, you can likely reduce your total taxes paid!
Read More$2000 "Cash Back" for Interns on taxes! Don't miss out on the Lifetime Learning Credit!
If you graduated from medical school during 2018, paid any tuition DURING 2018, and have any income for 2018 (e.g. your half-year’s intern salary), then you likely qualify for a tax break called the Lifetime Learning Credit (LLC), which is worth up to $2000. Don’t miss this!
Read MoreAnnouncing: Our new page on Life Insurance
A timely FAQ in case of an untimely event
If you have anyone who depends on you financially, you very likely need life insurance. And you almost certainly need more than the basic amount which may be provided by your employer. Yet you have probably spent more time researching insurance for your cell phone screen than you have on educating yourself about insurance on your life. [Yes, we know that for some it’s a fate worse than death to be deprived of your cell phone.] We’ve created a new, comprehensive, one-stop shop for life insurance information. So check out our FAQ and make sure you your loved ones are sufficiently covered in the event of an untimely event.
Announcing our new Disability Insurance FAQ!
We have a new, totally awesome and totally comprehensive (yet easy to understand) page on disability insurance.
Read MoreLots of Loans! What should be we be doing? Our first public "Reader Request" loan analysis.
Forbearing your loans while in training can be very costly! See this real-life example showing how an income-driven repayment can keep payments affordable, and also qualify you for immediate government subsidies, even if one does not eventually qualify for Public Service Loan Forgiveness.
Read MorePhysician financial literacy: Is anyone (besides us) doing anything about it?
A few examples of institutions who are providing quality financial education for trainees. It CAN be done.
Read MoreNew "Tools and Calculators" Page
Free loan repayment, PSLF, and other financial calculators for early career MDs. Our PSLF loan payment tracker is a tool you won’t find anywhere else on the internet.
Read MoreWhat do to do with "extra" money during residency?
As a resident, it's possible that you never feel like you have any extra money after paying for rent, food and student loans. But if you do, what should you do with it?
Read MoreFree Stuff! Student Loan Books!
Free book on medical student loans. Get yours before copies run out!
Read MoreMedical School Tuition is Soaring while Primary Care Salaries are Stagnant
Primary care wages have shown very little growth compared to the giant increase medical school costs. Current students and young MDs are entering a very different environment than their older mentors. Is the system aware of this? Are students and residents prepared for this?
Read MoreTen critical financial items new 2018 physicians need to handle today
Congratulations on graduating! You have finally made it through your education. Now it is on to your training and part of that training is going to be learning some financial essentials.
We have created a list of financial topics and actions you need to take ASAP to start things off on the right foot. These include things like: understanding your student loans, filing your taxes, consolidating your loans, learning about PSLF, making a budget, learning about investing and more. Check it out and share it with someone who needs the advice!
Read MoreYet Another Example of Fraud, Bias, and Conflict of Interest in the Student Loan Industry
Another example of why everyone should do their own due diligence with all financial matters, especially student loans
Read MoreWe need your help with our salary survey!
Help us collect the salary information for all residency programs in the US. Complete our survey to fill in the information about your institution. With your help we will be able to compile the first ever complete comparison of house staff salaries around the county.
Read MoreStudent Loans, a Book Recommendation
Go check out Ben White's book on Medical Student Loans.
Read More