Influence of Student Loan Debt on General Surgery Resident Career and Lifestyle Decision-Making

Kelsey E. Gray · Amy Hideko Kaji · Mary M. Wolfe · Kristine E. Calhoun · Farin F. Amersi · Timothy R. Donahue +16 more

36 citations0/0 files storedJournal of the American College of Surgeons

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Diversity and Career in Medicine Health and Medical Research Impacts Healthcare professionals’ stress and burnout

Abstract

BACKGROUND: The average medical school debt in 2011 was $170,000, and by 2017 it increased to $190,000. High debt burden has been shown to affect career choices for residents in primary care specialties; however, it has not been well studied among surgical residents. The purpose of this multi-institutional study was to assess the amount of debt among general surgery residents and its effects on their career and lifestyle decisions. STUDY DESIGN: Surveys were distributed to 607 categorical general surgery residents at 19 different residency programs. Degree of debt was assessed and responses compared. RESULTS: Overall, 427 (70.3%) residents completed the survey, 317 (74.2%) of whom reported having student loan debt. Of those with debt, 262 (82.6%) believed that repaying debt was a significant financial burden in residency, 248 (78.3%) thought it would remain a burden after residency, 210 (66.2%) believed their debt would influence their future job choice, and 225 (71%) thought their debt would delay their ability to buy a home. Debt did not affect decisions to get married or have children. There were 109 (25.6%) residents with no debt, 131 (30.8%) with <$200,000, 103 (24.2%) with $200,000 to $300,000, and 83 (19.5%) with >$300,000. Residents with high debt were less likely to feel financially secure now (p < 0.0001) and when thinking about their future (p < 0.0001). They also had higher minimum starting salary goals (p = 0.002) and were less likely to have had assistance paying for their education (p = 0.0001). CONCLUSIONS: Surgical residents believe their debt is a significant financial burden. Furthermore, high debt significantly influences their financial security, practice location, and salary goals.

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References

2005The Impact of U.S. Medical Students?? Debt on Their Choice of Primary Care Careers: An Analysis of Data from the 2002 Medical School Graduation Questionnaire 2005Medical School Tuition And Young Physicians’ Indebtedness 2014Medical student debt and major life choices other than specialty 2011A History of Medical Student Debt: Observations and Implications for the Future of Medical Education 2000Debt and other influences on career choices among surgical and primary care residents in a community-based hospital system 2019Career Goals, Salary Expectations, and Salary Negotiation Among Male and Female General Surgery Residents 2006Is medical student choice of a primary care residency influenced by debt?2017Distribution of Medical Education Debt by Specialty, 2010-2016

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