Medical students complaining about student loan debt

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Forums › Finance and wealth management › Medical students complaining about student loan debt

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sonyxperiageek

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#1806550 25-Jun-2017 19:24

joker97:
joker97:

sonyxperiageek:

minimoke:

Son is a med student and unfortunately he is not in the least bit concerned about his debt which he knows will be very large. Quite happy to keep borrowing. He has also worked out his starting payrate of around $17.50 an hour (which is now less than what rest home carers will get) but knows in the longer term it will all be manageable.

Is the starting payrate that he worked out for when he is still within his 6 year's of study doing work experience, or after when he has graduated?

it can't be after he's graduated, as shown by my calculation.

the only time they get paid before they graduate is in the 6th year of study, an annual payment of around 26k.

my calculator puts it at $514 a week. hourly rate would depend on how many hours they worked. but not $17.50

not sure where he gets $17.50 from sorry.

That story was from 2005 lol surely it's changed after 12 years?

Do med students actually get paid only around $25 when they graduate?

Sony

Batman

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#1806559 25-Jun-2017 19:46

When they do their final year of university.

Batman

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#1806560 25-Jun-2017 19:46

I don't think it's changed but i am not sure. Googled for a whole half hour

pom532

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#1806575 25-Jun-2017 20:32

You can find the pay for junior doctors in the their MECA here https://www.nzrda.org.nz/meca/ (page 12). Works out to be around $25 - $30/hr. But of course hours worked is often higher.

minimoke

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#1806641 25-Jun-2017 22:25

joker97:

the only time they get paid before they graduate is in the 6th year of study, an annual payment of around 26k.

my calculator puts it at $514 a week. hourly rate would depend on how many hours they worked. but not $17.50

not sure where he gets $17.50 from sorry.

For a 40 hour week that comes to $12.85 an hour. Less than the minimum wage. I think he is figuring on working much more than 40

mattwnz

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#1806702 26-Jun-2017 00:27

sonyxperiageek:
joker97:

joker97:

sonyxperiageek:

minimoke:

Son is a med student and unfortunately he is not in the least bit concerned about his debt which he knows will be very large. Quite happy to keep borrowing. He has also worked out his starting payrate of around $17.50 an hour (which is now less than what rest home carers will get) but knows in the longer term it will all be manageable.

Is the starting payrate that he worked out for when he is still within his 6 year's of study doing work experience, or after when he has graduated?

it can't be after he's graduated, as shown by my calculation.

the only time they get paid before they graduate is in the 6th year of study, an annual payment of around 26k.

my calculator puts it at $514 a week. hourly rate would depend on how many hours they worked. but not $17.50

not sure where he gets $17.50 from sorry.

That story was from 2005 lol surely it's changed after 12 years?

Do med students actually get paid only around $25 when they graduate?

With many professions, the pay can be poor for a few years until you get experience and registered. The trades these days seem to pay really well in comparison, and you earn from day one on the job, and don' t need to take on a 100k loan. Especially if you end up running your own company.

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