While top medical professionals may be in for a windfall once they’ve established their careers, the path there is paved with additional schooling and expenses.
“Medical school debt is a factor in how much you can save for retirement and how long it will take you to get to that point,” said Gabrielle Olya, senior writer for GoBankingRates.
For starters, these individuals must make their way through four years of undergraduate education, four years of medical school and at least a year of residency training, depending on their specialty.
First-year medical students in private schools faced a median cost of $61,533 during the 2018-2019 school year, according to the Association of American Medical Colleges. That expense includes tuition, fees and health insurance.