Doctors receive higher wages than the rest of the country but their financial situations might still be dire. The average amount of debt for a medical student is $201,490.
It can take upwards of 10 years for doctors to simply pay off their loans. In addition, most people are in their early or mid-30s when they finally become doctors. Adding family expenses, living costs, student debt, and other costly bills, it becomes evident that doctors are in a state of financial stress. Their large income definitely helps the situation and, over time, doctors are able to live very comfortable lives. But it takes some time to find a steady financial footing. The long years of training with little financial compensation in the meantime doesn't help. To cut down on student debt, the number of years spent in training should be reduced to only what is absolutely necessary in learning to become a doctor. This means most undergrad courses.