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Chiropractors Defaulted on Student Loans “In Droves”

Posted in Chiropractic College Debt, Economy, Higher Education, Student Debt, Student Loan Default, Student Loans with tags , , , , , , , , , , , , , , on August 23, 2010 by debtprisoner

The  chiropractic industry counted a win after it successfully lobbied for  inclusion in a federal student loan program for those studying  health-related professions. Decades later, though, significant numbers  of chiropractors have defaulted on their loans, leaving Uncle Sam to  make up the difference.

Fifty-three percent of  healthcare providers barred from receiving Medicare and Medicaid  reimbursements from patients because they defaulted on Health Education  Assistance Loans (HEAL) are chiropractors, according to an analysis of  the Department of Health and Human Services’ exclusion list.

The data shows people well into middle age–even in their 60s–saddled with debt, sometimes as much as $500,000, from the four years of graduate chiropractic school.

Link (via Sunshine Foundation Reporting Group)

We’ve said it before and we’ll say it again: Don’t become a chiropractor unless you like STUDENT LOAN DEBT you can’t repay — and lots and lots of it. You have been warned.

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