Specialty MD should be getting paid enough to make those loans not be a serious issue. Still a decent investment.
Seen this comment in this thread a few times now. Looked up average wage for this specialty in this area: $212K/year. Put wage into a simple calculator for taxes and came up with annual take home of $134.7K = $11.2K/month
$500k at 5.0% x 10 year repayment period = $5,250/month payment
The impact of this debt will be 10 years of $6000/month take home which is equal to a salary of $112,000 per year. Now on the scale of starting salaries, $112K may sound amazing, but this guy spent 4 years undergrad, 4 years in medical school and 3 years post-doctoral (including a relocation) to achieve this starting salary.
I just hope he continues to love being a doctor, because he is going to be one for a long time. Fortunately for him, if he takes our job, he will have me putting little prompts in front of him to think about making smart choices with his $s.
Best to all, Ap.