12/16/2023 0 Comments Em im away rotationsKoeut selected an income-driven (IDR) program in October 2010 with a monthly payment of $0, according to an ED loan analyst who testified in his case. The loans he took to finance medical school, meanwhile, started coming due. However, over the next five years, Koeut was unable to secure a residency placement. He did not earn a formal degree and began working part-time jobs in retail before attending the for-profit Ponce School of Medicine in Puerto Rico, finishing in 2010 and passing all the medical board exams. His family “lived in extreme poverty,” the filing stated, “collecting cans from the trash to supplement the family income.” Koeut did well in school and earned a bachelor’s in marine biology and Spanish from Duke University in 2002 before moving to Bangkok to study clinical tropical medicine. In October 2020, arguing against a discharge of the loans, the Department of Education (ED) contended that he had “not given his best effort to find better employment.”īorn in a Cambodian refugee camp in Thailand, Koeut came to America in the 1980s. After the adversary proceeding was dismissed, Koeut filed an appeal in 2018. In 2015, Koeut filed an adversary proceeding to discharge his student loans as part of his bankruptcy. After he failed to obtain a residency role-a required part of the transition from medical school graduate to licensed medical professional-Koeut ended up working menial jobs before filing for chapter 7 bankruptcy in May 2012 while holding $440,465.66 in federally-backed student debt. when he was a child and later pursued a medical degree in hopes of becoming a doctor. San Diego-based Seth Koeut was born to Cambodian refugees who came to the U.S. Speaking of Ponce, here's a heartbreaking story from a Ponce graduate who did not match either: Here is a list of schools eligible for federal loans.Īt least if you go to Ponce (the Puerto Rico medical school) you can get federal student loans, but match rates are still substantially lower than you would see at a mainland MD school (82-89%). You end up paying higher interest rates, you don't qualify for IDR programs, and the PSLF or IDR forgiveness escape hatch to fall back on in the event you don't match doesn't exist. The other problem with going to school at some Caribbean schools is that, even as an American citizen, you can't get federal student loans. IF YOU GO TO MEDICAL SCHOOL IN THE CARIBBEAN, THERE IS A 1-IN-2 CHANCE YOU'LL END UP $250K IN DEBT AND UNMATCHED! In the words of my partner who sent me this article:
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