Deferment of med school for financial reasons

[Rob_Hooke]

This is hypothetical as I am not yet accepted, but will medical schools allow deferment for financial reasons? i.e. if I get accepted to a medical school this year that is far from our home and my wife has trouble finding a new job? I've looked on several schools' websites that I am applying to and did not see any info on reasons for deferral.

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[ThoracicGuy]

This is hypothetical as I am not yet accepted, but will medical schools allow deferment for financial reasons? i.e. if I get accepted to a medical school this year that is far from our home and my wife has trouble finding a new job? I've looked on several schools' websites that I am applying to and did not see any info on reasons for deferral.

You would be eligible for federal loans (except for CNU) that would cover tuition and cost of living as calculated by the schools. Thus, you really wouldn't have a good reason for financial deferment.

 

[Rob_Hooke]

Thank you. What does CNU stand for btw?

 

[futuremdforme]

Financially, as a couple, you're better off finishing med school a year earlier and having an extra year of physician salary. If your wife got a job, the chances of it starting exactly when med school starts are very slim. Your best bet would be to do long-distance until she gets a job, or for her to move and look for a job once she's there and can interview in person.

 

[osckey]

Thank you. What does CNU stand for btw?

California Northstate University, a for-profit medical school which is not eligible for federal loans and is rustling a lot of jimmies.

 

[Rob_Hooke]

Ok. Thanks everyone!

 

[piii]

Really depends on the school. Some are strict on deferment and a lot are actually incredibly lenient. But as others have said, you will be taking loans out anyway, any income in one year won't really improve your quality of life or significantly help your loan situation.

 

[deleted480308]

your best bet is have her scramble harder to find some job, any job, and make the move

 

[Mr Medschool Money]

Agree with the above- I'm sure you've moved and started by now but maybe if someone else wanted the same info. Almost nothing will pay you more than your career as a physician/opportunities that comes with being a physician. Even though increasing loans is like nails on a chalkboard, increasing your earning potential is #1- just make sure being a doctor is really what you want. A lot of people go into it thinking that medicine will answer all their life questions- not true. At the end of the day you go home to your family. Its an amazing, trying, difficult job and its a huge privilege.