Has anyone done this? Gotten into an MSTP, then did 2 years of MD for completely free (paid living expenses with stipend and all that) and then dropped the PhD part after the two years MD, to continue the MD program (while taking out loans for the last two years).
This way, two years of MD tuition and living expenses are completely free. So if a medical school has a tuition of $45,000 per year, and you use up about $16,000 per year in living expenses, the total whole amount of loans you would have to take out if you do just the plain MD program is ($45,000+$16,000)*4=$244,000.
But, if you do MSTP for two years, then drop it and continue with MD (MSTP's don't require you to pay anything back), you would have to take out only $122,000. Plus, if the MSTP stipend is $25,000, then you may be able to save about $9,000 a year for the two years that you receive the stipend, which gives you $18,000 extra for the other two years of MD saved up. Meaning, $122,000-$18,000=$104,000 is the total amount of loans you would have to take out if you saved up.
That's not bad, right? Has anyone actually done this sort of thing? I know it sounds evil and whatnot.
This way, two years of MD tuition and living expenses are completely free. So if a medical school has a tuition of $45,000 per year, and you use up about $16,000 per year in living expenses, the total whole amount of loans you would have to take out if you do just the plain MD program is ($45,000+$16,000)*4=$244,000.
But, if you do MSTP for two years, then drop it and continue with MD (MSTP's don't require you to pay anything back), you would have to take out only $122,000. Plus, if the MSTP stipend is $25,000, then you may be able to save about $9,000 a year for the two years that you receive the stipend, which gives you $18,000 extra for the other two years of MD saved up. Meaning, $122,000-$18,000=$104,000 is the total amount of loans you would have to take out if you saved up.
That's not bad, right? Has anyone actually done this sort of thing? I know it sounds evil and whatnot.