Dr. Ransone, who is a family physician and president of the American Academy of Family Physicians, wrote that physicians incur the same cost regardless of what subspecialty they enter. Primary care physicians, however, may experience more challenges managing their debt compared to higher-paid physicians.
The Biden administration on Aug. 24 released plans to cancel up to $20,000 in student loan debt for individuals earning less than $125,000 a year. Medical students graduated with an average of $203,062 in education debt, data from the Association of American Medical Colleges in 2021 showed.
“We need solutions that encourage medical students and early career physicians to follow their hearts and career goals versus only following the money,” Dr. Ransone wrote. “We need solutions that promote the health of each of our communities by making it easier for doctors to practice in underserved areas, and solutions that ensure our healthcare system is equitable for all.”
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