In today’s job market, employers offer more than just salaries to lure credible candidates. Here are four ways to reduce your debt as quickly as possible.

<p>You’ve studied for years and likely accumulated a significant amount of medical 
  student loan debt in the process. In fact, the average debt reaches about 
  <a href="https://www.forbes.com/advisor/student-loans/average-medical-school-debt/" target="_blank">$200,000 
  for physicians</a>, which does not include undergraduate debt.  And this cost can vary 
  substantially, depending on whether you attended a public or private institution 
  and secured in-state or out-of-state tuition. But now it’s time to land your first job. 
  This can be a positive step toward reducing or eradicating student loan debt.</p>
  </br>
<p>In today’s competitive job market, employers offer more than just salaries to 
  lure credible candidates to their 
  organizations. So here are four ways to reduce your debt as quickly as possible.</p>

<h3> 1. Know what lucrative incentives are offered</h3>
<p>Many employers offer incentives such as sign-on bonuses and medical student 
  loan repayment. These offers, which are not mutually exclusive, are paid by 
  the recruiting organization in exchange for a commitment from the 
  candidate to stay in the company for a specific period, such as two or three years.</p>
  </br>
<p> The sign-on bonus and loan repayment stipend are often paid as a lump sum. While 
  most medical students make payments toward their loans during residency, the 
  accumulated debt can still be sizeable. However, receiving a sum as part of a 
  recruiting incentive can sometimes be enough to have the loans entirely repaid. </p>

<h3> 2. Create a debt repayment plan</h3>
<p>If you find yourself in this position, paying off smaller loans first and “tidying up”
   your debt portfolio can be tempting. However, we recommend you start by paying off the 
   highest interest rates, followed by private over government loans. You will want to 
   remove any loan for which your estate could be responsible as quickly as possible. 
   Government loans, often with the lowest interest rates, 
  should be paid last. Make the minimum payment until all other loans are retired.</p>

<h3> 3. Know the loan forgiveness opportunities available</h3>
<p>There are a wide <a href="https://physiciansthrive.com/financial-planning/a-physicians-guide-to-student-loan-forgiveness/" target="_blank">
variety of forgiveness</a> programs available to physicians depending 
  on specialty, location and professional goals. For instance, pursuing a career in 
  public service could have you eligible for the Public Service Loan Forgiveness program, 
  or the National Health Service Corps offers forgiveness programs for physicians who 
  commit to a 
  period of time in a shortage area. Be sure to explore all of the options available.</p>

  <h3> 4. Look for ways to make more money </h3>
    <p>Locum tenens providers can pick up additional shifts alongside full-time work and 
      often times are paid more than permanent positions. Work with a reputable recruiter 
      who works with physicians and advanced practitioners to 
      benefit from their established network and knowledge of the competitive job market.</p>

</br>
<p>Elevate your career and let us open the door to you to land your first big career 
  opportunity. The <a href="https://www.crosscountry.com/locums" target="_blank">
  Cross Country Locums</a> team brings 36 years of expertise and contacts. 
  We understand the reality of being a physician today. Let us help you find an 
  <a href="https://www.crosscountry.com/locums" target="_blank">opportunity</a> 
  that is your unique fit while helping to get your student loan debt in check.</p>

How to Land Your First Job and Reduce Medical Student Loan Debt