OUT OF STATE RESIDENCY

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OUT OF STATE RESIDENCY

Postby Guest » Tue Feb 08, 2005 3:04 am

HI ALL,

IM KINDA NEW ON HERE AND.....ANYWAY ILL GET TO THE POINT.DO YOU HAVE TO BE RICH TO DO AN OUT OF STATE RESIDENCY.I REALLY WANT TO KNOW DETAILS ABOUT RESIDENCY IN GENERAL.OH AND I DONT NEED ANYONE BELITTLING ME IN ANY WAY,I DONT NEED ANYONE TRYING TO MAKE IT LIKE IM A DUNCE AND THEY'RE EINSTEIN.IT HAS HAPPENED BEFORE WITH A CERATIN SOMEBODY.I WONT SAY NAMES.I JUST WANT A KIND REPLY.

BECAUSE I AM A VERY KIND PERSON THANX
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Re: OUT OF STATE RESIDENCY

Postby Guest » Tue Feb 08, 2005 3:06 am

SORRY U GUYS MIGHT THINK IM A DUNCE I ACCIDENTALLY TYPED CERTAIN WRONG
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Re: OUT OF STATE RESIDENCY

Postby DrDave » Tue Feb 08, 2005 3:17 am

Residency generally pays the same no matter where you do the residency program - there is slight variation based on location, usually to account for the cost of living in the different cities. For example, people get paid a little more in New York City than in Wisconsin - but not that much different last I heard.

In general, the biggest cost is not residency, but medical school. As for the cost of medical school, most people borrow money to pay for medical school, and loans are educational loans generally have slight better rates than other types of loans. However, the debt from medical school often is very significant, with many people paying off their loans over 20+ years, similar to a mortgage.
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Re: OUT OF STATE RESIDENCY

Postby Corpsman-Up » Tue Feb 08, 2005 5:02 am

Hey there -- here are another couple thoughts on residency from what I have learned in my recent readings and chats with residents...

The residency program will start out paying at a lower amount for an intern (bottom of the totem pole, so to speak), and you make a little more each year of the residency. I believe that you can also put off paying back those heavy-duty loans during residency, which is a boon for anyone who isn't necessarily financially independent.

Also, military residencies pay about $30-40,000 more per year than civilian residencies, for excellent training programs in all medical specialties. It isn't the way to go for everyone, but it is a nice option from a financial and service-oriented viewpoint.

Good luck! :-)
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