MtoM #258: Student Gets Full Ride to Medical School and Financial Boot Camp: 529s

Jan 19, 2026

A second-year med student shares his inspiring journey of winning a full ride scholarship to medical school, which alleviated financial stress. The discussion touches on how this scholarship is shaping his career decisions and financial plans. He emphasizes the importance of early financial education and community service commitments. The conversation also dives into the intricacies of tax strategies for high-income physicians and the benefits of 529 plans for education savings. Tune in for motivation and smart financial tips!

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ANECDOTE

Surprise Full-Tuition Scholarship

Jacob received a full-tuition endowed scholarship covering four years without applying directly.
He learned about it via a surprise phone call while studying and felt immediate relief and gratitude.

ANECDOTE

Spousal Income Keeps Household Afloat

Jacob's spouse is a nurse whose income supports the household during medical school.
They live frugally so Jacob expects to graduate medical training with only undergraduate loans remaining.

INSIGHT

Scholarship Encourages Giving Back

The scholarship donor requested recipients perform regular pro bono service as part of the award's intent.
Jacob plans to both volunteer and later give back financially to reduce others' student debt burdens.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

Today we are chatting with a second year med student who received a full ride scholarship to medical school. He was prepared to pay for his education fully with loans and then got the incredible news that he had been selected for the scholarship. He is an awesome example of getting financially educated early so he will be ready to hit the ground when he finishes training. After the interview we are talking about 529s for Financial Boot Camp.

If you're a high-income physician, you already know how hard you work for every dollar. The question is: how much are you actually keeping after taxes? Gelt is a tax firm focused on proactive tax strategy, guided by expert CPAs and optimized via in-house AI tools. They work with physicians and practice owners to use the tax code more intelligently so your structure, deductions, and planning help you keep more of what you earn. As a White Coat Investor reader, you can book a free strategy intro at WhiteCoatInvestor.com/Gelt and receive 10% off your first year with Gelt. It's time to start using your tax plan as a lever for growth.

Celebrating your stories of success along the journey to financial freedom! Tune in every Monday to the Milestones to Millionaire Podcast, where we celebrate the financial achievements of our listeners and share practical tips for reaching your own milestones. We want to celebrate your milestones—no matter how big or small—and help inspire others to follow your lead. Every week, these episodes feature one listener who has recently achieved a milestone they are proud of and want to celebrate, and they give any advice they have for those who want to follow their example. Make sure to listen every Monday to be inspired by your fellow white coat investors.

Celebrate YOUR Milestone on the Milestones to Millionaire Podcast: https://whitecoatinvestor.com/milestones

Website: https://www.whitecoatinvestor.com YouTube: https://www.whitecoatinvestor.com/youtube Student Loan Advice: https://studentloanadvice.com TikTok: https://www.tiktok.com/@thewhitecoatinvestor Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

00:00 M2M Podcast #258 03:15 Student Gets Full Ride to Medical School 13:53 Advice For Others 15:42 529s - Education Savings