2019-2020 Stanford

[mm19hope]

Did anyone's update tab disappear before the 2 week window...?

---

Members don't see this ad.

 

[sweetness32]

Seems like very few non-Berg acceptances reported so far for a class of 90... have they only sent out very few acceptances and waitlisted everyone else, or are a lot of people still waiting to hear back post interview?

I'm one of those still waiting post-interview (Oct)

 

[Mcdreamyoryang]

so when do we the think the last wave of decisions will be released for the month of Feb?

 

[deleted1027852]

so when do we the think the last wave of decisions will be released for the month of Feb?

I have been wondering about this too. My hopes were up for it happening any day now, encouraged by the January interviewees this year who heard back in 1-3 weeks. However, in past years (2018 & 2019) some of those who interviewed in Feb didn't hear until mid-March.

 

[labnerd4]

Here is my theory: Since some other top schools release decisions very late, such as Harvard and Yale, maybe Stanford is waiting to see how things are looking before making decisions. Since those schools have just released decisions recently, and Stanford finished their interviews last week, I think we should be hearing back soon ... probably in the upcoming week. What do you guys think?

 

[langwang3]

Here is my theory: Since some other top schools release decisions very late, such as Harvard and Yale, maybe Stanford is waiting to see how things are looking before making decisions. Since those schools have just released decisions recently, and Stanford finished their interviews last week, I think we should be hearing back soon ... probably in the upcoming week. What do you guys think?

Can Stanford see the schools where applicants have been accepted?

 

[deleted972488]

Can Stanford see the schools where applicants have been accepted?

No

 

[Lucca]

based on messaging from admin since the donation announcement it does look like next class’ finaid will be even more generous than ours! great news for y’all.

 

[doctormentary]

just received my financial aid package, so others should be hearing back from the financial office soon!

 

[yellowcoat]

Did anyone's update tab disappear before the 2 week window...?

Mine did. I recently interviewed for MSTP

 

[mm19hope]

Mine did. I recently interviewed for MSTP

I have a feeling that means a decision was made... the question is does that mean A, WL, or R?

 

[positivepuffin]

is there any action we need to take to accept our financial aid offer?

 

[Holisthiq]

just received my financial aid package, so others should be hearing back from the financial office soon!

is there any action we need to take to accept our financial aid offer?

Seems like peeps are finding out today. For frame of reference, around when did y'all finish the fin aid paperwork?


Edit: Just got the award letter. Submitted my stuff about a week ago so it looks like they should all be out soon!

 

[eragon22]

Any current students willing to comment on the culture at Stanford (stress levels, community, support, etc.)?

Or alternatively/additionally - what to expect from second look?

 

[Lucca]

Any current students willing to comment on the culture at Stanford (stress levels, community, support, etc.)?

Or alternatively/additionally - what to expect from second look?

second look is a good time. Lots of free food, swag, meeting people, celebrating.

I think relative to all medical students I believe we are less stressed. Medical school is still stressful at times, but when you have pass now/pass later, no AOA, and very few mandatory time commitments you have a lot of flexibility with how you spend your time. Most of my school related stress comes from falling behind in class because I spend lecture time doing things I think are generally more valuable with my time (research, shadowing, volunteering, personal projects). I still study but I do it at home at night (like right now) or on Sundays since at this point in our curriculum we’re in a heavy basic science phase and I don’t feel the need to devote a ton of time to the material.

in terms of support there’s quite a bit. Thanks to student advocacy from the upperclassmen we now have a dedicated med school psychiatrist and mental health team just for our med student community. We have a learning specialist just for med students to help you adjust to school or figure out ways to study for a particular class and eventually to help you plan a schedule for taking boards / studying for boards. We have a personal trainer you can book to help you with your fitness goals. We have an office of graduate student wellness that has many of its own initiatives in addition to the university psychological services which holds workshops for things like impostor syndrome, managing anxiety, difficult relationships at work etc and is also available to us. I’d say my number one source of support in med school are my classmates. Not always the same ones and not always in the same way or for the same reasons but definitely my classmates.

in terms of community, this is a small school relative to other med schools and it will definitely feel that way at times. I liked that and that was one of the reasons I chose to come here but I recognize it’s definitely not for everyone and a small community within another insular community (Palo Alto / Stanford) in the suburbs May not be the Ideal environment for some. That said, it’s beautiful and peaceful here and the weather can’t be beat. Today I took a walk across campus to clear my head because of some pressures in my personal life and I’m thankful I can spend some time looking at trees in the sun in this place. But nowhere is perfect and you have to know what you want about where you will live and the community you will be a part of.

 

[eragon22]

second look is a good time. Lots of free food, swag, meeting people, celebrating.

I think relative to all medical students I believe we are less stressed. Medical school is still stressful at times, but when you have pass now/pass later, no AOA, and very few mandatory time commitments you have a lot of flexibility with how you spend your time. Most of my school related stress comes from falling behind in class because I spend lecture time doing things I think are generally more valuable with my time (research, shadowing, volunteering, personal projects). I still study but I do it at home at night (like right now) or on Sundays since at this point in our curriculum we’re in a heavy basic science phase and I don’t feel the need to devote a ton of time to the material.

in terms of support there’s quite a bit. Thanks to student advocacy from the upperclassmen we now have a dedicated med school psychiatrist and mental health team just for our med student community. We have a learning specialist just for med students to help you adjust to school or figure out ways to study for a particular class and eventually to help you plan a schedule for taking boards / studying for boards. We have a personal trainer you can book to help you with your fitness goals. We have an office of graduate student wellness that has many of its own initiatives in addition to the university psychological services which holds workshops for things like impostor syndrome, managing anxiety, difficult relationships at work etc and is also available to us. I’d say my number one source of support in med school are my classmates. Not always the same ones and not always in the same way or for the same reasons but definitely my classmates.

in terms of community, this is a small school relative to other med schools and it will definitely feel that way at times. I liked that and that was one of the reasons I chose to come here but I recognize it’s definitely not for everyone and a small community within another insular community (Palo Alto / Stanford) in the suburbs May not be the Ideal environment for some. That said, it’s beautiful and peaceful here and the weather can’t be beat. Today I took a walk across campus to clear my head because of some pressures in my personal life and I’m thankful I can spend some time looking at trees in the sun in this place. But nowhere is perfect and you have to know what you want about where you will live and the community you will be a part of.

This is fantastic, thank you so much for taking the time to post here!!! I'm definitely someone who has struggled with imposter syndrome in the past, and I didn't come from an ivy background (or science background) so this is really the kind of information I was looking for!

 

[NCIguy62]

This is fantastic, thank you so much for taking the time to post here!!! I'm definitely someone who has struggled with imposter syndrome in the past, and I didn't come from an ivy background (or science background) so this is really the kind of information I was looking for!

And yet you still got through all the hurdles that apps throw at you and got into Stanford! Impostor syndrome absolutely sucks, but a comprehensive review by an adcom at one of the best med schools in the world decided that you're not an impostor - you're the real deal. Congrats

 

[sweet.potato243]

Has anyone who interviewed in February receive any news?

 

[eragon22]

And yet you still got through all the hurdles that apps throw at you and got into Stanford! Impostor syndrome absolutely sucks, but a comprehensive review by an adcom at one of the best med schools in the world decided that you're not an impostor - you're the real deal. Congrats

That's incredibly nice of you to say, thank you!

 

[mm19hope]

Has anyone who interviewed in February receive any news?

nope not yet! fingers crossed

 

[NCIguy62]

That's incredibly nice of you to say, thank you!

Can't wait to meet ya in person bud. Seems like the culture at Stanford is already pretty great, but if we both end up going there let's keep it up and make it better.

 

[sweet.potato243]

nope not yet! fingers crossed

Do you think there will be another wave of acceptances sometime this week?

 

[deleted958920]

second look is a good time. Lots of free food, swag, meeting people, celebrating.

I think relative to all medical students I believe we are less stressed. Medical school is still stressful at times, but when you have pass now/pass later, no AOA, and very few mandatory time commitments you have a lot of flexibility with how you spend your time. Most of my school related stress comes from falling behind in class because I spend lecture time doing things I think are generally more valuable with my time (research, shadowing, volunteering, personal projects). I still study but I do it at home at night (like right now) or on Sundays since at this point in our curriculum we’re in a heavy basic science phase and I don’t feel the need to devote a ton of time to the material.

in terms of support there’s quite a bit. Thanks to student advocacy from the upperclassmen we now have a dedicated med school psychiatrist and mental health team just for our med student community. We have a learning specialist just for med students to help you adjust to school or figure out ways to study for a particular class and eventually to help you plan a schedule for taking boards / studying for boards. We have a personal trainer you can book to help you with your fitness goals. We have an office of graduate student wellness that has many of its own initiatives in addition to the university psychological services which holds workshops for things like impostor syndrome, managing anxiety, difficult relationships at work etc and is also available to us. I’d say my number one source of support in med school are my classmates. Not always the same ones and not always in the same way or for the same reasons but definitely my classmates.

in terms of community, this is a small school relative to other med schools and it will definitely feel that way at times. I liked that and that was one of the reasons I chose to come here but I recognize it’s definitely not for everyone and a small community within another insular community (Palo Alto / Stanford) in the suburbs May not be the Ideal environment for some. That said, it’s beautiful and peaceful here and the weather can’t be beat. Today I took a walk across campus to clear my head because of some pressures in my personal life and I’m thankful I can spend some time looking at trees in the sun in this place. But nowhere is perfect and you have to know what you want about where you will live and the community you will be a part of.

Stanford was already my top choice coming into the cycle, and after attending the interview and reading this I know that it is the place where I could become my best self as a physician. I just hope Stanford feels the same way about me, and gives me a chance. Hoping decisions for us who are still waiting come soon and bear good news!

 

[deleted987990]

Stanford was #3 on my list pre-interview. After the interview day it rose to #1. I was just so happy with everything and couldn't stop smiling. Students were very genuine and everyone seemed happy and grateful! hope they reciprocate the love

 

[positivepuffin]

And yet you still got through all the hurdles that apps throw at you and got into Stanford! Impostor syndrome absolutely sucks, but a comprehensive review by an adcom at one of the best med schools in the world decided that you're not an impostor - you're the real deal. Congrats

this is the kind of classmates I want to be around <3

 

[NCIguy62]

this is the kind of classmates I want to be around <3

Right now we're just starting out our medical careers, but at some point, many of the people on this forum and in our med school classes will be running the show. We will get to set the tone for what healthcare looks like tomorrow, and I think starting with positivity and kindness in our community is a great start. Can't wait to be classmates with you too, if you end up choosing Stanford!

 

[Wednesday Elephant]

I know a lot of people are asking the same question. But does anyone here have any idea when us Feb people will be hearing back???
I'm outside the country and I've been keeping my phone on roaming 9-5 on weekdays hoping to get that call.
Can one of the current students maybe swing by admissions and give us a smaller time-frame than the entirety of March? and put me out of my misery for a bit?

 

[eragon22]

Right now we're just starting out our medical careers, but at some point, many of the people on this forum and in our med school classes will be running the show. We will get to set the tone for what healthcare looks like tomorrow, and I think starting with positivity and kindness in our community is a great start. Can't wait to be classmates with you too, if you end up choosing Stanford!

I'm loving this thread, hope you guys end up at Stanford with me!!

 

[ls1270]

Does anyone know if September interviewees who haven't heard back yet still have a chance...

 

[I am Beyonce always]

d'y'all get y'all's financial aid estimates yet?

 

[ricardo.wannabedoc]

d'y'all get y'all's financial aid estimates yet?

Yup! I was blown away.

 

[butwhytho]

I received my financial aid letter and was extremely disappointed. Most of the award was in unsubsidized loans, which will accrue interest while I'm still in school and residency. I assume the office calculated it based off my parents' incomes, but they will not pay for my medical school education, which I think is quite fair considering the cost. If this is what I get for 4 years at Stanford, I'm going to be accruing interest on a 250,000 dollar loan throughout my residency and that's a heavy cloud to hang over my head. This really puts a damper on things for me. Stanford has always been my dream school, and now I might not be able to go.

 

[p0wder]

d'y'all get y'all's financial aid estimates yet?

I had a similar experience to @butwhytho. I also received my estimate and essentially received no aid (due to parents' income and being under 30), and I will also not be getting any money from my fam (it's kind of wild how much money they would be left with if they paid what is 'expected' by the calculators..). This is by far my favorite institution but $350k+ is a lot of money...

 

[butwhytho]

Are there any current students here that can comment on how much medscholars or TAing will reduce the tuition? I would be happy with a 100k debt but 250k is ridiculous when I have fully funded offers on the table. But Stanford is by FAR my favorite school, it's perfect for me in fit.

Idk man, what happened to eliminate student debt? What's the point of a 90 million commitment to help alleviate student financial strain, and still having cases like these in your tiny accepted pool of ~180 people?

 

[Lucca]

7.5: Teaching Assistant and Research Assistant Salary and Tuition Allowance Tables

med.stanford.edu

^ here are the current TA compensation rates / quarter.

MedScholars rates shift a bit but 100% is currently funded @ 12,600$ / quarter. In other words, 50% is about half that, 25% is about 1/4, but not precisely. Spring quarter of first year (Q3) is the first time you are able to be awarded MedScholars funding. A maximum of 500% (or the equivalent of 5 full-time quarters) of MedScholars funding can be awarded to an individual student during their time at Stanford.

As a clarifying point, RA positions are awarded on a case-by-case basis and come out of a PIs grant. It is quite rare for a medical student to be given an RA-ship by a PI when they know you can apply for MedScholars but it certainly isn't impossible either if you are bringing a lot of value to a group (e.g. you already have a PhD or equivalent level of expertise). RA =/= MedScholars

I know that all of this about percents and quarters can be extremely confusing. It's worth having a chat with financial aid during second look to speak more in detail about this.

That said, I would urge y'all not to consider TA-ships / MedScholars in your total debt calculations. At the end of the day you must apply for these things and the rates at which proposals are funded varies from year to year based on a variety of factors. Yes, most students end up doing one or both (or even more of the other funding mechanisms like the Valley fellowship which is like MedScholars for community based work) but don't treat TA/MedScholars like a slam dunk guarantee. I would base the financial component of your decision primarily on your financial aid award letter.

Other than Knight-Hennessy, Berg, and MSTP, Stanford offers only need-based aid. The commitment to increase need-based aid is based precisely on that: need. I understand it can be frustrating to fall outside of what the institution / federal government define as "need" when medical school in this country is so exorbitantly expensive but I would urge you to maintain a level of perspective that the Arrillaga gift has also offered a transformative opportunity to people who would have not otherwise had it or come from disadvantaged backgrounds. Everyone's situation is different and I would urge one to take financial considerations seriously, but ultimately it is your decision and your decision only. It might be cold comfort to hear this and I dont want to minimize anyone's feelings but if your financial award disappointed you I hope that you can still find gratitude for the more generous offers you have and the privilege to choose where you start your medical career!

 

[NCIguy62]

I received my financial aid letter and was extremely disappointed. Most of the award was in unsubsidized loans, which will accrue interest while I'm still in school and residency. I assume the office calculated it based off my parents' incomes, but they will not pay for my medical school education, which I think is quite fair considering the cost. If this is what I get for 4 years at Stanford, I'm going to be accruing interest on a 250,000 dollar loan throughout my residency and that's a heavy cloud to hang over my head. This really puts a damper on things for me. Stanford has always been my dream school, and now I might not be able to go.

In the same boat here. After the announcement of the donation to eliminate medical student debt, I was (perhaps too naively) hoping that Stanford wouldn't have loans anymore? Presumably that is what debt free means...?

I'm very fortunate to come from a moderately well-off family, but I am in this unfortunate slice of the population where my parents make enough for me not to receive substantial finaid (I am on the hook for about 80k per year) but not enough that 80k is just spare change to us. It's tough. Add onto this the fact that my parents have told me from day 1 that any graduate schooling is on my dime (very fair, since it's my choice to pursue extra schooling), and it just kinda sucks that their income/assets are being factored into my finaid calculations when 1) they're not even paying for my med school and 2) even if they were, we're not even close to being rich enough to just shell out 80k a year and not feel a substantial financial burden due to it.

Perhaps this was an issue of too high of expectations, but I really thought it would be more generous. I know this is a bit of a silly complaint (woe is me, my family is doing well), but when they're not helping me out with grad school that just means I'll graduate with 320k+ in loans which is astronomically high. I am and will forever be grateful for the chance to attend Stanford, but I wish with their near-30 billion dollar endowment and recent 55 million dollar gift, we'd get a bit more help.

 

[butwhytho]

That said, I would urge y'all not to consider TA-ships / MedScholars in your total debt calculations. At the end of the day you must apply for these things and the rates at which proposals are funded varies from year to year based on a variety of factors. Yes, most students end up doing one or both (or even more of the other funding mechanisms like the Valley fellowship which is like MedScholars for community based work) but don't treat TA/MedScholars like a slam dunk guarantee. I would base the financial component of your decision primarily on your financial aid award letter.

It looks like a lot of people are getting the same finaid that I got. So how in the world does Stanford have one of the lowest average indebtedness in the country? Isn't it because of programs like medscholars or TAing? Or are the only people that actually end up being able to go to Stanford people who demonstrate 100% need or very rich kids whose parents pay for them?

 

[NCIguy62]

It looks like a lot of people are getting the same finaid that I got. So how in the world does Stanford have one of the lowest average indebtedness in the country? Isn't it because of programs like medscholars or TAing? Or are the only people that actually end up being able to go to Stanford people who demonstrate 100% need or very rich kids whose parents pay for them?

I assume it must be basically a combination of the extremes - people who need substantial, substantial help and then super-rich kids who get 100k a year easy from their parents and don't need to go into debt.

If 40% of the class graduates with 300k in debt and 60% has near 0...I guess it "works" out numerically?

 

[KnightDoc]

It looks like a lot of people are getting the same finaid that I got. So how in the world does Stanford have one of the lowest average indebtedness in the country? Isn't it because of programs like medscholars or TAing? Or are the only people that actually end up being able to go to Stanford people who demonstrate 100% need or very rich kids whose parents pay for them?

I don't mean to be a wiseguy, but I think you can answer your own question -- you previously said you have fully funded offers on the table, which is probably the rule as opposed to the exception for people like you who are outstanding enough to be accepted to Stanford. Are you going to turn your other offers down to take on $250K debt to go to Stanford? If not, that's your answer!

I'm betting you are correct that Stanford has very low average indebtedness because the people who attend either receive generous packages from Stanford or come from wealthy families. In either case, they are not taking on substantial debt. Everyone else most likely receives generous offers at other, very excellent schools, and ultimately cannot justify the huge debt for whatever extra boost and opportunity Stanford presents over their other choices. Anyone who is accepted is "able" to attend, insofar as a Stanford MD could service however much debt is required to attend -- the issue is why would anyone choose to take on that debt when they have other awesome, significantly less expensive options?

 

[ItAintEasyBeingCheesy]

I assume it must be basically a combination of the extremes - people who need substantial, substantial help and then super-rich kids who get 100k a year easy from their parents and don't need to go into debt.

If 40% of the class graduates with 300k in debt and 60% has near 0...I guess it "works" out numerically?

Interesting how med school financial aid somewhat parallels the problems with healthcare coverage in our country. The poor get Medicaid, the rich have the means while the people in the middle get squeezed.


Sent from my iPhone using SDN

 

[butwhytho]

I don't mean to be a wiseguy, but I think you can answer your own question -- you previously said you have fully funded offers on the table, which is probably the rule as opposed to the exception for people like you who are outstanding enough to be accepted to Stanford. Are you going to turn your other offers down to take on $250K debt to go to Stanford? If not, that's your answer!

It is just frustrating not being able to choose the school that best fits me purely due to the financial aid policy of Stanford, especially considering the huge endowment, an abundance of resources, and even a recent 50 million dollar donation specifically to the med school. I've dreamed about attending this school since I was a kid, worked my butt off to get accepted to Stanford specifically, and now it feels like my efforts didn't matter because one of my parents was lucky enough to receive a promotion recently. I'm actually strongly considering turning down another T20 fully funded offer because of how much Stanford means to me, but I have no idea if I can in good conscience pick the best fitting school for me while turning away from a fully-funded offer. Feels like a lose-lose situation - I either turn away from my dream school, or turn away from being debt-free.

Disclaimer: I realize I'm complaining from a position of privilege! I just want to try to explain why I feel so frustrated right now, and hopefully my feelings seem valid. Of course, one could very easily spin it as a win-win situation - I either get to attend my dream school, or I get to be debt-free!

 

[Pluto98]

It is just frustrating not being able to choose the school that best fits me purely due to the financial aid policy of Stanford, especially considering the huge endowment, an abundance of resources, and even a recent 50 million dollar donation specifically to the med school. I've dreamed about attending this school since I was a kid, worked my butt off to get accepted to Stanford specifically, and now it feels like my efforts didn't matter because one of my parents was lucky enough to receive a promotion recently. I'm actually strongly considering turning down another T20 fully funded offer because of how much Stanford means to me, but I have no idea if I can in good conscience pick the best fitting school for me while turning away from a fully-funded offer. Feels like a lose-lose situation - I either turn away from my dream school, or turn away from being debt-free.

Disclaimer: I realize I'm complaining from a position of privilege! I just want to try to explain why I feel so frustrated right now, and hopefully my feelings seem valid. Of course, one could very easily spin it as a win-win situation - I either get to attend my dream school, or I get to be debt-free!

take the money and run far far away. Consider this, after taxes, Stanford will cost you approx 1.5 million dollars when it’s all said and done. Maybe more. You aren’t paying taxes on your full ride scholarship money but you are paying taxes on your student loans. Take the financial freedom

 

[Lucca]

It looks like a lot of people are getting the same finaid that I got. So how in the world does Stanford have one of the lowest average indebtedness in the country? Isn't it because of programs like medscholars or TAing? Or are the only people that actually end up being able to go to Stanford people who demonstrate 100% need or very rich kids whose parents pay for them?

im not saying people don’t commonly use MS/TA ships to reduce debt, they do. I don’t know the numbers but I would certainly guess even most do one, other, or both at various times. I’m saying I would not simply plug in those numbers and assume they’ll be a part of your financial aid package because they aren’t 100% guaranteed. Also without yet attending here I think it would be difficult to accurately predict how much effort you would be able to apply to MS/TA/Valley each quarter for every quarter you attend in advance. Clerkship years make this even a little trickier. I think it would be far more irresponsible to tell you otherwise.

i also think it’s a misrepresentation of our financial aid policy to say only those with 100% need will get aid. My family is not low income currently by any stretch of the imagination and I know that because I grew up low income (<30k family income). I am getting significant aid to come here in addition to loans. My parents aren’t paying for my schooling, but I also know that if anything happened to me like my car needed repairing, I got into an accident, or whatever they could have my back in a pinch. They are a safety net for me. There are people here who save their stipend aggressively because *they* are the safety net for their family. The option they may have been presented with without Stanford’s aid would not have been “go into debt for Stanford and compromise about ways to service it in the long run” or “choose a more generous offer”. It simply wouldn’t have been an option at all. That’s what I mean when I say “keep things in perspective”.

I hope I’m not coming off as judgemental or minimize anyone’s disappointment which is valid. Trust me, I know where you’re coming from. I’m just trying to highlight what people from different SES backgrounds might feel reading some of these comments. Would be great if Stanford used their money to go 100% completely debt free for all, and I do think they have that ability in purely material terms, but they’ve chosen to use the gift in a way that prioritizes those with highest need while taking into account full COA and. not just tuition and in the grand scheme of things I think that’s a better approach than something like tuition free which doesn’t account for high cost of living and disproportionately advantages those with access to credit or whose parents can serve as guarantors to help find housing in high cost areas. Do I think we can do better? Always. Anyways, that’s my last comment on the subject. I hope everyone that wants to come here gets to attend but I know that’s not always possible and wish you all the best in the decision making process which can be very stressful in and of itself, I know it was the most stressful part of my cycle.

 

[NCIguy62]

take the money and run far far away. Consider this, after taxes, Stanford will cost you approx 1.5 million dollars when it’s all said and done. Maybe more. You aren’t paying taxes on your full ride scholarship money but you are paying taxes on your student loans. Take the financial freedom

Sorry I might be mistaken but I didn't know there were taxes on student loans? Could you point me to a resource on that?

 

[Pluto98]

Sorry I might be mistaken but I didn't know there were taxes on student loans? Could you point me to a resource on that?

when you receive scholarship money from a school, you don’t pay taxes on that money. So if you receive a 200k in scholarship, you didn’t pay taxes on that 200k. When you take out student loans and need to pay back 500k 10years from now, you are actually paying more because you need to pay taxes on the money that you earn and AFTER taxes, you can pay off that 500k. In effect, that 500k turns into 900k of earned income that needs to be taxed to pay it off. So a full ride is worth far more accounting for interest and taxes paid for on the money. On the order of 1.5 mil when all is said and done

 

[NCIguy62]

when you receive scholarship money from a school, you don’t pay taxes on that money. So if you receive a 200k in scholarship, you didn’t pay taxes on that 200k. When you take out student loans and need to pay back 500k 10years from now, you are actually paying more because you need to pay taxes on the money that you earn and AFTER taxes, you can pay off that 500k. In effect, that 500k turns into 900k of earned income that needs to be taxed to pay it off. So a full ride is worth far more accounting for interest and taxes paid for on the money. On the order of 1.5 mil when all is said and done

Am I missing something? Are Student Loans Taxable Income? | Student Loan Hero

 

[Pluto98]

Am I missing something? Are Student Loans Taxable Income? | Student Loan Hero

you can’t write off the 500k in 10 years time to not pay taxes on it. In effect, there’s no difference between paying 500k on your student loans vs paying 500k for a new super car (you pay taxes on both). The one difference is that PART of the interest accrued on the student loans can be written off (a very small part on the order of a few k I believe). Source: my brother who is an accountant

 

[Tumornator]

All Walter is saying is that you’re using post-tax income to pay off the student loans in the future. Student loans are not taxed.

 

[Pluto98]

All Walter is saying is that you’re using post-tax income to pay off the student loans in the future. Student loans are not taxed.

Exactly. But by using post tax income, you are in effect, paying taxes on that money, just not right away.

 

[NCIguy62]

Exactly. But by using post tax income, you are in effect, paying taxes on that money, just not right away.

Gotcha! I was worried they were taxed when you received them AND you're paying them off with post-tax income. That would be tragic. Thank you so much for clarifying.