Today, many physicians have accrued overwhelming debt during medical school. Fortunately, Locum Tenens work can help these individuals effectively manage their student loan debt.
Tuition alone at a private medical school can cost students at least $50,000.00 per year on average. With this in mind, it is no surprise that newly minted physicians are facing tremendous student loan debt upon graduation. Finding a permanent placement after school may be difficult, leading many to choose jobs that are lower paying or otherwise undesirable. Many physicians resort to loan deferment, which only causes interest to pile up. If you are a physician facing debt from medical school, consider Locum Tenens work as a way to effectively manage your debt. Locum Tenens helps these individuals with their financial liabilities in the following ways:
- The opportunities are abundant. Locum Tenens workers are in high demand. Because of this, physicians can begin work right away. This immediate income can be put towards student loan payments when they become due. Similarly, once one Locum Tenens placement is complete, physicians can seamlessly transfer to another position, so there is little to no gap between paychecks.
- There are high paying placements. In the world of Locum Tenens, physicians can be placed all over the United States. Physicians who are open to different locations (such as those that are more rural) can earn a higher pay.
- Many costs are covered. Many Locum Tenens positions offer excellent money saving benefits. Expenses such as travel, accommodations, and malpractice insurance are typically covered by the medical facility. With this extra savings, physicians can put more money towards paying off their medical school debt.
- It provides invaluable experience. Locum Tenens work provides physicians the unique ability to gain experience in a wide variety of medical fields. This experience can make physicians more attractive to future employers (including other Locum Tenens employers). The more in demand physicians can make themselves, the more employers are willing to pay them.
Being proactive and choosing Locum Tenens work can help physicians effectively manage their student loan debt. The financial freedom is only one of the many perks associated with these temporary positions. To get started on the path to Locum Tenens work, please contact us at Medstaff today.