Another proposal to mitigate the damages of the pending shortage of doctors is in the works – it aims to eliminate medical school debt and with it the potential barrier to applying to medical school for many students.
Under the proposed plan, called SAFE (the Strategic Alternative for Funding Education) or “human capital contracts,” companies invest in students by financing their education. In exchange, each student agrees to pay the company a fixed percentage of her gross compensation for 10 years following her residency. The payments will drop off or reduce if the student loses her job or makes less than she planned. And if she makes more than expected during those ten years, the company will profit.
Two medical students from the University of Chicago School of Medicine will present their proposal at the American Medical Association's House of Delegates 2011 Annual Meeting in Chicago this weekend.
Read more about SAFE here: