Education is a key component in any professional sector, but in healthcare, the need for continued education is universal. No matter what type of medicine a professional practices, there are always more sources of education that he or she can pursue. This is even after an intensive degree program for their school of specialization, such as medical school or in the case of chiropractic professionals, Chiropractic College.
The costs of higher education in the medical field are astronomical. So many physicians graduate from medical school with massive amounts of debt, that they will work to repay far past their residency. There are different levels of cost depending on the amount of schooling a certain discipline requires but overall, medical school costs can really hem up the financial future for so many individuals. This is potentially why we are seeing a drastic decline in the amount of qualified physicians in the United States.
Chiropractic College is no exception, and there is still extensive debt seen in many chiropractic professionals for some time after they receive their degree. However according to a new study conducted by the Brookings Institution, aspiring chiropractic professionals can breathe a sigh of relief.
The Brookings Institution formed a scale to determine the strength of loan repayment rates in various different areas of medical education. This scale was developed in an effort to provide us with insight into the financial futures of different types of medical students. Fortunately for chiropractic students, there were high levels of performance and strength in the financial future of this field.
The nation’s first Chiropractic College, Palmer College of Chiropractic, scored a 100 on the Brooking Institution’s loan repayment scale. This was the highest score out of any institution measured in the study, and this should instill confidence in any individual in pursuit of a chiropractic degree.
The study also showed that graduates of the Palmer College of Chiropractic have significantly higher earning power out of any other alumni group. Overall, it seems that the financial implications of chiropractic education are much more favorable than education in any other field.
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