Greater Debt Problems for Primary Care Physicians

By:  30/11/2012
Keywords: personal loans, Debt consolidation, debt management

Debt problems have become common for several UK individuals but recent reports show that primary care physicians are getting more difficulties in student loan debt repayment after completing their graduation in compare of specially care physicians. The research results are based upon the study of the Association of American medical colleges and Boston U.

Research reports stated that the level of student debts have gone so high that even a larger number of students will struggle on primary care salary alone to pay back their education debts. They will face difficulties even to cover their routine household expenses. According to latest report results it has been found that 86 percent of medical student graduates in 2011 had debts and the debt amount is reported at its highest level till date.

The report clearly stated that majority of medical graduates have heavy education loan repayment liability and debt level is increasing. 23 percent of indebted medical graduates are from private medical institutions that have highest debt level. Debt consultants have suggested for some alternative repayment options like federally funded debt consolidation to such students in order to reduce debt liability level.

Research also includes the review of debt repayment strategy of medical practitioners based upon hypothetical scenarios. It has been found that debtors are paying larger amount in extended repayment period. Study results clearly indicate students to review carefully about the repayment terms if you are going to enroll in some alternative repayment plans.

According to research reports it has been revealed that after graphical reviews of income, expenses and debt payments it has been concluded that any medical care practitioner including primary or especially care is able to pay back current level of their education debts. However, medical practitioners have stated that primary care practitioners are also facing financial difficulties due to shorter residency program in compare of specially care doctors.

Keywords: Debt consolidation, debt management, personal loans



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