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Medical intern offers?

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Comments

  • #122
    Traumadoc
    Registered Users Posts: 2,523 ✭✭✭Traumadoc


    Anthony16 wrote: »
    I see what u are saying but i have a cousin who has gone the GEM route and honestly,she would rather go to the grave 200k in debt than live comfortably in a job she isnt satisfied with.
    It seems some people have that unquenchable vocation while others want a career.
    No fear she will be allowed to go to the grave owing money, the Banks will go after the guarantors.


  • #123
    51533823
    Registered Users Posts: 55 ✭✭51533823


    Traumadoc wrote: »
    No fear she will be allowed to go to the grave owing money, the Banks will go after the guarantors.

    Most GEMS don't have a guarantor! They do, however, have life insurance to cover such an unfortunate incident.


  • #124
    51533823
    Registered Users Posts: 55 ✭✭51533823


    Traumadoc wrote: »
    many grad entry will have loans ( 15-20 k in fees 20 k in living expenses ) most would have loans of 100k.

    Assuming a 10 year pay back at 1 k per month that would leave you with 250 per week to live off. ( better off on the dole?)

    Your figures are correct for the first year of internship only.


  • #125
    Traumadoc
    Registered Users Posts: 2,523 ✭✭✭Traumadoc


    51533823 wrote: »
    Your figures are correct for the first year of internship only.

    Possibly, but the increases in pay for SHOs is not huge. I still think graduates, many of whom will be trying to settle down, buy a home etc, will be struggling for many years.


  • #126
    51533823
    Registered Users Posts: 55 ✭✭51533823


    Traumadoc wrote: »
    Possibly, but the increases in pay for SHOs is not huge. I still think graduates, many of whom will be trying to settle down, buy a home etc, will be struggling for many years.

    True, a mortgage will probably be out of the question for most alright. The only hope for many of the current students is that their loan should be unsecured. This (somewhat) puts them in the driving seat when dealing with their bank on graduation (as the majority of mid 20's do not have assets worth talking about) and hopefully will be in a position to negotiate their repayments.

    I think the banks are also worried about certain UK insolvency laws. These ordinarily do not cover student debt, but the GEMS loan package is an ordinary standard personal loan which is within the remit of things like IVA's. This is why all new loans for the incoming students require a guarantor, which is crazy in my opinion. You'd have to think very long and hard before bringing your parents into your €100k debt at a stage when they are likely to be considering retirement.


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  • #127
    Zagato
    Registered Users Posts: 1,775 ✭✭✭Zagato


    Traumadoc wrote: »
    many of whom will be trying to settle down, buy a home etc,

    Are you familiar with the life of an NCHD, why would they buy a home, when they have little idea where their job is going to be next year.

    Sure lots of them bought houses in '00 - '07 when they were told that they needed to get on the property ladder, and the house would only go up in value, so they could sell if needs be in 3yrs time or so. Not so many of them buying in the last 2yrs.


  • #128
    RobFowl
    Moderators, Science, Health & Environment Moderators Posts: 11,667 Mod ✭✭✭✭RobFowl


    Buying a home as an NCHD is a very bad idea. You will be moving around repeatedly and probably even working abroad for long stretches. Literally you will not know where you are working more than a year in advance at best for the first 4-7 years at best.


  • #129
    Anthony16
    Registered Users Posts: 608 ✭✭✭Anthony16


    Traumadoc wrote: »
    No fear she will be allowed to go to the grave owing money, the Banks will go after the guarantors.

    She doesnt owe that money.
    She started at 32 and had saved about 50k beforehand.
    So probably owes about 50 now.
    Not bad by any means.
    no plans to settle down afaik.
    I agree though,for those who want a family/mortgage and stay in ireland,it seems a ridiculous decision to go for GEM


  • #130
    Zagato
    Registered Users Posts: 1,775 ✭✭✭Zagato


    Anthony16 wrote: »
    She doesnt owe that money.
    She started at 32 and had saved about 50k beforehand.
    So probably owes about 50 now.
    Not bad by any means.
    no plans to settle down afaik.
    I agree though,for those who want a family/mortgage and stay in ireland,it seems a ridiculous decision to go for GEM

    It's fine if you want to be a GP, and our fortunate enough to get into the scheme you want - either way wherever you are you would be in a region of the country for a 4yr period


  • #131
    Traumadoc
    Registered Users Posts: 2,523 ✭✭✭Traumadoc


    RobFowl wrote: »
    Buying a home as an NCHD is a very bad idea. You will be moving around repeatedly and probably even working abroad for long stretches. Literally you will not know where you are working more than a year in advance at best for the first 4-7 years at best.

    I bought in 97 as NCHD, worked out fine for me.


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  • #132
    RobFowl
    Moderators, Science, Health & Environment Moderators Posts: 11,667 Mod ✭✭✭✭RobFowl


    Traumadoc wrote: »
    I bought in 97 as NCHD, worked out fine for me.

    As did I but its 2012 now !! You'll may buy but you'll have great difficulty selling it on if and when you have to move.

    Ireland's changed a lot in the last 15 years ;)


  • #133
    Dr Nic
    Closed Accounts Posts: 1,323 ✭✭✭Dr Nic


    Mind if I ask what kind of average mark got what intern place in each hospital?


  • #134
    Traumadoc
    Registered Users Posts: 2,523 ✭✭✭Traumadoc


    RobFowl wrote: »
    As did I but its 2012 now !! You'll may buy but you'll have great difficulty selling it on if and when you have to move.

    Ireland's changed a lot in the last 15 years ;)

    Actually I think it is a relatively good time to buy ( in particular areas).
    My main point would be that many of the graduate entrants will not have tis option as they will be severely hampered by having to pay 1k a month for 10 years.
    It will be difficult enough to get a car loan never mind applying for a home loan.

    I would agree with you that any NCHD who bought in the last 7 years could be limited in their options. I know someone who did and it has worked out OK. They are now training overseas and most of the mortgage has been covered.


  • #135
    Zagato
    Registered Users Posts: 1,775 ✭✭✭Zagato


    Well I know a number that will likely have to default on their mortgages if they wish to pursue a fellowship, as they finish their higher specialist training and there aren't consultant posts for them here to pay there mortgage if they wanted to stay.

    Anyways - this is getting quite off topic.

    Good luck to all the new interns tomorrow -I'll try to be nice to my one :rolleyes:


  • #136
    sillymoo
    Registered Users Posts: 1,083 ✭✭✭sillymoo


    Zagato wrote: »
    I'll try to be nice to my one :rolleyes:
    Well this has done nothing to relieve my nerves - thanks :rolleyes:


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