Tuesday, July 26, 2016

Student loans The prison we create for ourselves.

Hello, I wanted to talk about student loans. 

I personally owe over $190,000 in US private medical school loans.

Know this: Government Student Loans and Private Student loans have the same status, both have to be paid back no matter what. Both are protected by federal law and are not discharged in a Bankruptcy. 

They are like loans with SUPER POWERS, they can pursue you forever to the grave. 

Federal Student Loans can be forgiven after 10 years of on time payments in many cases

Private Student loans can not be forgiven and forever be owed, many times never being payed off. 

Why Private student loans have the same status as Federal student loans? I have no idea since the situation is so unfair. 

In america getting an education and a student loan feels like a life long prison 
sentence for the innocent. 

Unless wealthy or lucky, most people will borrow money for college. 

The problem is two fold for many, first the amount borrowed, while most its at least 15,000 a year, barely covers tuition and books, there are no luxuries like food and a place to live covered. Second after graduation and $50,000 in loan debt, there are no jobs at times and six months after graduation the loan payments are due. There are hardship programs but they are only for a few months no job where you can pay your payments and eat the loan companies will call you 5 days a week, email you and send threatening letters. After a time they will go to court and automatically win a judgement to just take the money from your tiny pay check leaving you to living on the rest of the money if you can, its not their problem and our Federal Government has given them legal power to do so.

If you do not pay your student loans, Federal and or Private, they can take to court where they win a judgement automatically taking the money from your paycheck no matter how small it is. 


Until I was able to be accepted into an internship I had no idea how I was going to pay back my student loans soon, I was paying on a plan that would expire and the payments would go up to 70% of pay check a month. 

I'm not the only one I know. Many suffer and many more will unless this is stopped. 

Student loan debt clock link 

Tuesday, July 19, 2016

ERAS opened for Business

ERAS is opened for business and ready to (Suck) take the money and applications from applicants.

June 6, 2016
ERAS 2017 Begins
Applicants can register on MyERAS and begin working on their application.
September 6, 2016    Applicants start applying to ACGME-accredited residency programs only.
September 15, 2016ACGME-accredited residency programs start receiving applications.
October 1, 2016MSPEs released to residency programs.
DecemberMilitary match results are available.
JanuaryUrology Residency Match results are available.
March
National Resident Matching Program (NRMP®) main residency match results are available.
Supplemental Offer and Acceptance Program (SOAP®) starts.
For more information, please contact NRMP at 202-400-2233 or support@nrmp.org.
May 31, 2017ERAS 2017 Season Ends: MyERAS closes at 5 p.m. ET






Yes I'm cynical and this is why:

ERAS 2016: using the all who applied number ( right from the ERAS NRMP numbers) 


Applied 42,370 Matched 26,836 is 63% match rate. 

This the real number. NRMP will not count reapplicants and those who drop out as applicants for the stats, why? It gives us a lower match rate, 

MY argument is this, in September every year X number of people apply, this is the overwhelming number of applications which cause the screening and the unfairness, since ERAS is application only and does a very poor job of qualifying someone, many who will drop out apply. So the real number is How many apply and how many match.


Cost: 


ERAS application fees are based on the number of programs applied to per specialty. MyERAS automatically calculates your fees and you can pay online using Visa or MasterCard.
Note: AOA-accredited program application fees are assessed separately, see example 5 below.
Programs Per Specialty
Application Fees
Up to 10
$99
11 - 20
$12 each
21 - 30
$16 each
31 or more
$26 each

Example 1: 30 Emergency Medicine programs [$99.00 + (10 x $12.00) + (10 x $16.00)] = $379.00
Example 2: 20 OB/GYN programs [$99.00 + (10 X $12.00)] + 10 Family Practice programs [$99.00] = $318.00
Example 3: 23 Internal Medicine programs [$99.00 + (10 X $12.00) + (3 X $16.00)] + 7 Radiology programs [$99.00] = $366.00
Example 4: 12 Internal Medicine programs [$99.00 + (2 X $12.00)] + 10 Emergency Medicine [$99.00] + 8 Family Practice programs [$99.00] = $321.00
Example 5: 3 ACGME-accredited Family Medicine programs [$99.00] + 3 AOA-accredited Family Medicine programs [$99.00] = $198.00

Additional Fees

USMLE Transcript: $80 (assessed once per season)
COMLEX-USA Transcript: $80 (assessed once per season)

Least it would cost 

Token fee from ECFMG                                     $105
Cost to apply 1 - 10 programs in one specialty     $99
USMLE transcript                                               $80
NRMP fee                                                           $75

Total to apply to one program ( up to 10 one specialty) 
                  
                                                                           $359