Q about allocation of Monash/Melbourne Med

[WhoTookMyUsername]

Approximately how much would buying yourself out of a bonded place cost? My careers counsellour said it's like only 80k extra but i don't think that's correct.
I'm not really considering this but any information is good,
Thanks!

[pi]

Approximately how much would buying yourself out of a bonded place cost? My careers counsellour said it's like only 80k extra but i don't think that's correct.
I'm not really considering this but any information is good,
Thanks!

It's actually around 90k to buy out the full 5 years And you have ~11 years AFTER you finish your degree to come up with those funds.

[WhoTookMyUsername]

Is that all :O, how did you arrive at those figures xD? (is there a link somewhere?)

That's really not much at all in the long term :\

[pi]

Is that all :O, how did you arrive at those figures xD? (is there a link somewhere?)

That's really not much at all in the long term :\

shinny did some maths for it Re: Monash MBBS students

[WhoTookMyUsername]

m...
doesn't it become FFP though?
FFP is just under 50k a year according to https://secure.monash.edu/scsd/domestic-fee-rates/finish.php

[Russ]

FFP is different to the government contribution to a CSP. It will have interest added and be adjusted to inflation though

[pi]

m...
doesn't it become FFP though?
FFP is just under 50k a year according to https://secure.monash.edu/scsd/domestic-fee-rates/finish.php

I not fully sure, but you have to remember the HECS is already there, you're just paying what the govt subsidises (pays for you) for you to do the degree when you're paying off the Bond, and I'm pretty sure that's ~18k each year (as 9k is on HECS).

[paulsterio]

There are ethical issues to buying yourself out of a bonded medical place though, because you are technically depriving areas in need of a doctor. The reason why bonded medical places exist is to help with the doctor shortage in certain rural areas when you complete your bonded term in an area of workforce shortage.

If you're "buying" your way out of a bonded medical place, not only are you using your money to your advantage, but you are technically also putting more strain on those who work in areas with workforce shortages, thus, think about the ethical side of buying yourself out of a bonded medical place - I wouldn't do it even if I had the money.

[pi]

True, it's unethical to an extent, but most people who break the Bond break it after doing part of their time in an area of workforce shortage first and then they break it for any of a number of reasons.

Furthermore, the govt did leave that clause in there for a reason.

[paulsterio]

Well, the government left the clause in there because they can't just bind you to working in an area of workforce shortage - there always has to be an exit clause in a contract. The only other real alternative to having to pay is to revoke your license to practice, but that's a bit harsh as there are, obviously, certain circumstances where people HAVE TO break their contract.

But yeah, I think if everyone bought their way out of the bonded scheme, then it would really defeat the purpose in the first place, thus, only do it if you have to, i.e. you have a genuine reason where you're not able to work in a rural area.

[pi]

Well, the government left the clause in there because they can't just bind you to working in an area of workforce shortage - there always has to be an exit clause in a contract. The only other real alternative to having to pay is to revoke your license to practice, but that's a bit harsh as there are, obviously, certain circumstances where people HAVE TO break their contract.

Haha, the MRBS is exactly that


It'd be interesting if there were stats on the numbers who do pay out the Bond.

[WhoTookMyUsername]

Yeah i know there are ethical issues involved, i wouldn't like to go into a bonded place with the intention of buying out.
After doing a bit of further research and looking at the 2012 deed agreement is does seem that it's not that much money (relatively) under 20000 a year and probably $100000 all up.