When I graduated medical school, the joy of accomplishment quickly gave way to an uncertainty about the future. Currently, the average U.S. medical school graduate has $180,000 of debt as he or she enters residency. The figure is even worse for dental students, who graduate with over $200,000 in debt.
I still remember when my first student loan payment came due. I was faced with the stark reality that my student loans were going to be an important part of my finances for many years to come.
Studies have shown that a high level of debt negatively affects medical students willingness to select a career in primary care or practice in underserved areas, as these are both lower-paying practice options physicians have. Similarly, dental school debt has been shown to negatively affect dentists’ willingness to work with rural patients. Medical and dental school debt, it seems, does not just affect young doctors; it affects Americans ability to access basic healthcare.
However, the specter of student debt does not just scare these students out of careers working with the underserved. Student debt often forces a resident physician to stop training altogether. This is especially true in my chosen field of pediatrics. Unlike adults, children in this country suffer from a lack of access to subspecialists. There are many reasons for this. Pediatric subspecialties take an additional 3 or 4 years of training after a general pediatrics residency. And the majority of pediatric subspecialists earn less then a general pediatrician, further deincentivizing subspecialization among young, debt-burdened pediatricians.
I graduated medical school in 2011, prepared to train to take care of children. Almost eight years later, I am still training. As the years have gone by, my student loan payments have continued to grow. As large as these payments have become, they still do not even cover the interest on my student loans.
Every day I train as a resident physician, I go further into debt. Many of my colleagues who have set out to become pediatric oncologists, nephrologists, or intensivists have had to stop training because it becomes impossible to ignore their ever-growing student loan balances. I hope I make it.
Student debt also prevents many dental school graduates from pursuing postgraduate training. After dental school, many dentists pursue additional training in areas such as endodontics, prosthodontics, or pediatrics. Most of these programs are one to two years long and are meant to supplement training dentists receive in dental school. Like their physician counterparts, student debt has been shown to play a large role in the decision of dental school graduates to pursue further training.
Fortunately, there may be a solution to this problem hampering U.S. medical and dental education. Rep. Brian Babin, R-Texas, a doctor, has introduced the Resident Education Deferred Interest Act. This would do two important things to help young physicians and dentists. It would allow for deferment on student loan payments for those training in medical or dental residencies. In addition, no interest would accrue during this deferment period. The bill has garnered widespread bipartisan support and now boasts 42 co-sponsors, split almost evenly between Democrats and Republicans.
The bill would not forgive any debt: a contentious point in our larger debate about higher education reform in this country. It would simply allow senior dental and medical students to choose their career path without being influenced in their ability to train by growing student loan balances. The goal is to prevent a mountain of student debt from forcing them into quicker training for more lucrative careers.
The REDI Act would increase access to primary care by allowing medical students to select these fields from the get-go. And it would allow trainees to continue to seek additional training and expertise as they should they see fit. It is an excellent bipartisan fix to a growing problem that is hindering young physicians and dentists the nation over.
Dr. Robert Ricketts is a resident physician at Baylor College of Medicine in Houston, Texas. His opinions do not necessarily reflect those of the school.
