Physicians’ Medical School Loan Debt: 15 Statistics

A majority of physicians over the age of 40 years have medical school debt amounting to $50,000 or less, however, the amount is higher for physicians under the age of 40 years, according to 2014 Work/Life Profiles of Today’s U.S. Physician released by AMA Insurance.

Advertisement

The survey includes responses from 4,950 U.S. physicians. The survey was conducted in October 2013.

 
When asked how much medical school loan debt they had after earning their degrees, respondents reported the following:

 

Physicians under 40 years:

 

•    $50,000 or less — 13 percent
•    $50,000 to $100,000 — 18 percent
•    $100,000 to $150,000 — 24 percent
•    $150,000 to $200,000 — 23 percent
•    More than $200,000 — 23 percent

 

Physicians between 40 and 59 years:

 

•    $50,000 or less — 41 percent
•    $50,000 to $100,000 — 26 percent
•    $100,000 to $150,000 — 15 percent
•    $150,000 to $200,000 — 9 percent
•    More than $200,000 — 9 percent

 

Physicians between 60 and 69 years:

 

•    $50,000 or less — 74 percent
•    $50,000 to $100,000 — 16 percent
•    $100,000 to $150,000 — 6 percent
•    $150,000 to $200,000 — 2 percent
•    More than $200,000 — 3 percent

More Articles on Practice Management:

10 Tips for First-Time Managers
Small Business Owners: 7 Tips for Best Negotiations
Top 10 Challenges, Opportunities for Physicians This Year

Advertisement

Next Up in Practice Management

Advertisement

Comments are closed.