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Article |

Effect of Student Loan Indebtedness and Repayment on Resident Physicians' Cash Flow An Analytic Model

John Hernried; Louis Binder, MD; Peter Hernried, CPA
JAMA. 1990;263(8):1102-1105. doi:10.1001/jama.1990.03440080080028.
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Cumulative figures of "average medical student indebtedness," although meaningful, do not convey the effect of loan repayments on residents' cash flow, effect on a resident's value system and residency performance, and effect on trends in health care manpower allocation. Using a computer-based cash flow model, a "typical" house officer with $20 000 in undergraduate indebtedness who is training in a less expensive city will realize a $2390 deficit during internship and negative cash flow throughout a 5-year residency. House officers with extreme indebtedness (>$80 000) who are training in an expensive metropolitan area would accumulate an overall deficit approaching $75 000 or more, in excess of their undergraduate indebtedness, during a 5-year residency program. Effects of these findings on residency education and health care manpower issues, along with potential solutions for alleviating residents' cash flow problems, are discussed.

(JAMA. 1990;263:1102-1105)


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