The report is based on survey responses from 7,000 U.S. physicians in more than 29 specialties collected between Oct. 2 and Jan. 16.
College and medical school loans were the fourth-most-common debt or expense that physicians reported paying down at 21%, behind primary mortgage payments (60%), car loan payments (31%) and credit card debt (26%).
The recent trend of sizable donations to medical schools, aimed at waiving tuition fees, may have an impact on future medical student loan debt rates. Students may reassess what specialty they choose to pursue if they no longer have to consider the burden of student loan debt.
The percentage of physicians in a selection of specialties surveyed by Medscape still paying off school loans:
- Family medicine: 25%
- Psychiatry: 23%
- Neurology: 21%
- Oncology: 19%
- Internal medicine: 16%
- Endocrinology: 16%
- Cardiology: 12%
View the full report here.
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