SoFi Blog

Tips and news—
for your financial moves.

8 Doctors Share Exactly How They’re Tackling Medical School Debt

There are lots of good reasons to become a doctor. Being a physician means you can help people in one of the most direct ways possible: By doing your best to restore their health. An added bonus is you can eventually make hundreds of thousands of dollars a year doing it; Medscape’s 2016 physician compensation report found that the lowest-earning doctors (pediatricians and endocrinologists) bring in around $200,000 a year, while the highest earners (orthopedists and cardiologists) make over $400,000.

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5 Key Pieces of Finance Advice for All Med School Grads Starting Residency

Congrats—it’s finally over. You’ve graduated medical school, made it through Match Day, and are ready to start residency, on the road to finally becoming a fully fledged doctor.

But hold on, you’re not there yet. Odds are you finished med school with loans and some debt. The average med student graduated with $190,000 in debt last year, according to the Association of American Medical Colleges. And while the average doctor can make quite a bit of money—pediatricians earn an average of $204,000 and orthopedic specialists make $443,000, for example—the average resident does not.

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