How do you pay for rent and food in Medical School?

[gp14]

This may seem like a pretty stupid question but I was thinking about it the other day. I've heard that most schools recommend students to not have a job throughout medical school, so how do they pay for the cost of living? Should you save up money throughout undergrad? I'm assuming some people's parents help them out but some people are not so fortunate financially.

So if you are in medical school or will be attending, how will you pay for rent and food?

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[loveoforganic]

Loans are supposed to cover it all if you live reasonably frugally.

 

[Electronegative]

Loans and grants cover cost of attendance to the school. Cost of attendance includes tuition, rent, books, food, and other fees.

 

[Cypher321]

Marry rich.

 

[gp14]

Yeah, that's what I figured. I'm currently an incoming freshman in college. Would you guys advise saving money now for interviews and all the costs that come along with that process? I feel like it would be smart to have 3 or 4 grand saved to attend my interviews, stay at hotels, food, buy nice clothes, etc.

I may just be thinking way too far ahead though.

 

[EMS5]

Loans and grants cover cost of attendance to the school. Cost of attendance includes tuition, rent, books, food, and other fees.

In the equation where loans= 99.5% of your money and grants= not enough money to count on

 

[kashmirvie]

Loans cover that.

 

[orthomyxo]

Yeah, that's what I figured. I'm currently an incoming freshman in college. Would you guys advise saving money now for interviews and all the costs that come along with that process? I feel like it would be smart to have 3 or 4 grand saved to attend my interviews, stay at hotels, food, buy nice clothes, etc.

I may just be thinking way too far ahead though.

You can never start saving too early. Get rich while you can.

 

[45408]

You can never start saving too early. Get rich while you can.

Most student loans (and virtually all credit cards) accrue interest at a higher rate than your investments, so it really makes more sense to avoid debt.

My sugar mama paid for my food/rent during med school. I recommend it.

 

[BigRedBeta]

Schools build in cost of living as part of your loan package. How they do this varies. Some schools will work with you and create a budget based off of your actual expenses (ie, they'll look at your rent, cell phone, internet, cable, utility bills, etc) in order to keep your loan amounts as low as possible. Other schools will just give you a flat rate per month, and expect you to make the budget work, (my 4th year of med school at my med school it was $1600 a month while classes were IN SESSION - meaning that any years there was "summer break" you didn't get money for those months)

 

[gp14]

You can never start saving too early. Get rich while you can.

That's true. I would be interested in seeing how much the average medical school applicant spends throughout the entire process. You could average out the cost, say if you interview at ten schools and you spend $$3,500. That's $350 for each school.

Would anyone be interested in sharing how much money they spent while they were applying to schools?

 

[EpicBearMan]

Yeah, that's what I figured. I'm currently an incoming freshman in college. Would you guys advise saving money now for interviews and all the costs that come along with that process? I feel like it would be smart to have 3 or 4 grand saved to attend my interviews, stay at hotels, food, buy nice clothes, etc.

I may just be thinking way too far ahead though.

Getting 3-4 grand ready for the application process would indeed be a smart thing to do.

 

[gp14]

Most student loans (and virtually all credit cards) accrue interest at a higher rate than your investments, so it really makes more sense to avoid debt.

My sugar mama paid for my food/rent during med school. I recommend it.

I'll start working on getting a sugar mama ASAP.

 

[POW16]

That's true. I would be interested in seeing how much the average medical school applicant spends throughout the entire process. You could average out the cost, say if you interview at ten schools and you spend $$3,500. That's $350 for each school.

Would anyone be interested in sharing how much money they spent while they were applying to schools?

I did a spreadsheet to have an idea and spent close to $3000 on application fees, traveling and lodging. I had to fly to the 5 interviews I went to and stayed with students on three of them. That doesn't include other expenses such as food or local transportation (shuttles/cabs).

So yeah, starting a fund as early as early as possible would be a great idea.

 

[gp14]

BAH GAWD, $3,000 for 5 interviews? That's crazy.

 

[Krak]

it's called taking your clothes off for money and other naughty acts.

 

[The Poet Sings]

BAH GAWD, $3,000 for 5 interviews? That's crazy.

that sounds about right for me. i didn't actually tally it all up bc i knew i'd faint if i could see an actual number staring me in the face, but all the primaries and secondaries add up. i had to complete a decent number of apps to get my 7 interviews, of which i only attended 5. and airfare and hotel is expensive.

 

[GulDahntay]

gp14 ..

Do not bother with the financial aspect of applying for or attending medical school. The more you worry about those things, the less focused you'll be on the things you need to be working on right now - including grades, MCAT, volunteering, EC's, labs, talking to the right people, etc.

When it comes time to start investing your money in the application process (yes, it is an investment), you'll manage to find the cash. I fortunately was working at the time and had saved up enough to finance my apps. But if I didn't have enough, I'd have borrowed the money without hesitation.

Most students will rely on some loans. Many will still be paying back undergrad loans. I know one student at my school who is getting all of his tuition paid for by his parents. But that is extremely rare.

There are also grants and other forms of "free" money. And if you are feeling patriotic, you can agree to serve as a military physician in exchange for the military to pay for your tuition + give you a monthly stipend (so you can live like a king while still going to med school).

Hope this helps.

 

[drizzt3117]

Straight cash homie! Rich ppl don't write checks.

 

[JJMrK]

Yeah, that's what I figured. I'm currently an incoming freshman in college. Would you guys advise saving money now for interviews and all the costs that come along with that process? I feel like it would be smart to have 3 or 4 grand saved to attend my interviews, stay at hotels, food, buy nice clothes, etc.

I may just be thinking way too far ahead though.

Student loans factor in the cost of living (usually 15-20k on top of tuition). I'd certainly save as much money as possible though to avoid extra debt when you can. You'll certainly need it for the application process as well. I think I probably spent 6 or 7 thousand applying.

 

[Poliscidoc]

 

[wolverinepwns]

I'm planning on doing marrying Oprah while I'm in medschool!

 

[Cypher321]

/thread

 

[Prncssbuttercup]

Some/most schools have a policy about students with financial need that is greater than the typical amount... while taking out more money in loans is usually not advisable, for what it's worth, you can't give up on a dream because of money... you have to make it work...

 

[FrickenhugeMD]

If you want food paid for just apply for food stamps. As long as you live in a place you pay rent and dont make any income (ie being a student) you are eligible for $200 a month, which helps out more than you can even know now.

By the time I graduate medical school I will have saved $9600, and it would have been more if I started in undergrad....

love my stamps!

 

[imflying]

If you want food paid for just apply for food stamps. As long as you live in a place you pay rent and dont make any income (ie being a student) you are eligible for $200 a month, which helps out more than you can even know now.

By the time I graduate medical school I will have saved $9600, and it would have been more if I started in undergrad....

love my stamps!

is this a common practice (for med students)?

 

[FrickenhugeMD]

is this a common practice (for med students)?

All of my friends do, but we are a minority. Most people don't realize they are eligible and others are too "proud" or some other garbage to take them (haters gotta hate, what can I say)

I figure I'll pay back more than my share once I'm a doctor, so I dont feel bad about taking the assistance. It helps out more than you can imagine, and most importantly we are all eligible.

Why work when you can be given money!

 

[gp14]

If you want food paid for just apply for food stamps. As long as you live in a place you pay rent and dont make any income (ie being a student) you are eligible for $200 a month, which helps out more than you can even know now.

By the time I graduate medical school I will have saved $9600, and it would have been more if I started in undergrad....

love my stamps!

Good to know. Do you explicitly tell the government that you are a medical student? It seems weird that they would give you $200 a month. I know you aren't working and aren't making any money but you're going to become a doctor...

 

[jm192]

All of my friends do, but we are a minority. Most people don't realize they are eligible and others are too "proud" or some other garbage to take them (haters gotta hate, what can I say)

I figure I'll pay back more than my share once I'm a doctor, so I dont feel bad about taking the assistance. It helps out more than you can imagine, and most importantly we are all eligible.

Why work when you can be given money!

What is the process for signing up?

I would assume if one med student is eligible, another about has to be, right?

Do you get into a mess if you work during the off months?

 

[DrBowtie]

What is the process for signing up?

I would assume if one med student is eligible, another about has to be, right?

Do you get into a mess if you work during the off months?

Requirements vary. The place I looked said you had to have <X amount in your bank account (it was like $2000 or something) have no investments or home ownership.

Basically it was going to be tough to get it unless you had kids in my state.

 

[Asyouwereatrio]

I don't know if 3-4K will suffice. Granted, I've applied to thirty schools, but the primary and secondary application fees alone will be around 3800-3900.

At 20 schools, which I say is about the average, I'd say that is about will still run you around 3K (at 100 dollars per secondary), excluding interview costs.

 

[45408]

A few of my classmates with children qualified for food stamps. I definitely would not have, because my wife was working. I don't know about the single people with no dependents. I don't know anyone in that situation who did sign up. I don't think they qualify in my state.

 

[FrickenhugeMD]

Good to know. Do you explicitly tell the government that you are a medical student? It seems weird that they would give you $200 a month. I know you aren't working and aren't making any money but you're going to become a doctor...

I told them I was a student but all they cared about is whether or not I had an income, and loans are not income. They could care less about what you want to become or are going to be. They are awarded based on need and if you are without income, bingo - food stamps

What is the process for signing up?

I would assume if one med student is eligible, another about has to be, right?

Do you get into a mess if you work during the off months?

It varies state to state, but in Michigan go to
https://www.mibridges.michigan.gov/access/

I was never asked about my bank account, but I had less than $2000 dollars in mine at the time.

If you work, all you do is notify them of the changes and they stop giving you money. when you go back to school, tell them you arent working any more and they start back up.

 

[FrickenhugeMD]

Also, I am single and have no dependents. I do live with a roomate who is also living the food stamp dream.

I also could not have come from a more white and middle class family, if that makes a difference

One more thing, $200 is the standard payment for single people with out income. Not sure what you would get if you had kids, ect.

 

[thumbsucker]

All of my friends do, but we are a minority. Most people don't realize they are eligible and others are too "proud" or some other garbage to take them (haters gotta hate, what can I say)

Why work when you can be given money!

I don't know how being a minority and food stamps relate. I'm not too proud, I would feel beyond uncomfortable doing that. Seeing as how I don't need them.

No offense, but you're making the case for people who adamantly hate governmental assistance and assume it to be a minority thing. I'm in support of these programs, but only when they're utilized by those who actually need them, because they can't work or are in some other way disadvantaged .

BOT, is it difficult to hold a part time job during M1 & 2?

 

[FrickenhugeMD]

I don't know how being a minority and food stamps relate. I'm not too proud, I would feel beyond uncomfortable doing that. Seeing as how I don't need them.

No offense, but you're making the case for people who adamantly hate governmental assistance and assume it to be a minority thing. I'm in support of these programs, but only when they're utilized by those who actually need them, because they can't work or are in some other way disadvantaged .

BOT, is it difficult to hold a part time job during M1 & 2?

see previous post...

wrong context, but I forgive you. Among my class, those of us with food stamps are the minority

 

[thumbsucker]

see previous post...

wrong context, but I forgive you. Among my class, those of us with food stamps are the minority

I must've missed it, my opinion still stands sans rebuke. In which case, I don't think you need them but who am I to judge? I'm still a premed 100% supported by my folks.

 

[WuMedic]

see previous post...

wrong context, but I forgive you. Among my class, those of us with food stamps are the minority

I must've missed it, my opinion still stands sans rebuke. In which case, I don't think you need them but who am I to judge? I'm still a premed 100% supported by my folks.

Thumbsucker, you are lucky to come from a family that can do that for you, but do realize there are a lot of us who will have to pay our own way. I work upwards of 40 hours a week during the school year and 60+ during the summers. I have never been on fs, but $200 a month goes a long way when you are paying for yourself.

The way I look at welfare and unemployment is this. As a community, we pay into the pot. When one of us goes down (illness, injury, just simple hard times) we all chip in and help him out (although proactively by letting him draw from the pot already made). The theory is one day when I go down, he'll have chipped into the pot for me. Rather than causing people to lose their cars, houses, etc when they hit a rough patch, we allow them to make ends meet just long enough for them to get back on their feet. People who abuse the system are ones who draw on it for ages and never chip in and end up giving welfare a bad name. But if you legitimately need the money due to a hardship (house was damaged by the storm, lost job, have a new 60k/year expenses known as medical school...) I think it would be acceptable to draw from that with the intention of paying back into the pot later (or for those of us who work, chipping into the pot now).

In any case, I'm not in that situation yet so maybe i'll feel differently then, but that's my 2c!

 

[mvenus929]

Yeah, that's what I figured. I'm currently an incoming freshman in college. Would you guys advise saving money now for interviews and all the costs that come along with that process? I feel like it would be smart to have 3 or 4 grand saved to attend my interviews, stay at hotels, food, buy nice clothes, etc.

I may just be thinking way too far ahead though.

I'm pretty sure I still have a running total on my MDApps. But, I spent about 3K each time I applied (though I only applied to 9 schools, and only interviewed at a handful.. the first time I interviewed at 4 and the second time I interviewed at 3--and turned down one, so it could have been 4).

It's difficult to save up for school itself, since whatever you save up won't go very far once you start, but saving up for the application cycle itself might be a good thing. Also, you won't get your first financial aid check until around when you start (I think the norm is a week after classes start), so you may want to try to save up a little to get settled into wherever you're going to be going to... things like security deposit and first month's rent, etc.

 

[45408]

BOT, is it difficult to hold a part time job during M1 & 2?

Yes.

 

[thumbsucker]

The way I look at welfare and unemployment is this. As a community, we pay into the pot. When one of us goes down (illness, injury, just simple hard times) we all chip in and help him out (although proactively by letting him draw from the pot already made). The theory is one day when I go down, he'll have chipped into the pot for me. Rather than causing people to lose their cars, houses, etc when they hit a rough patch, we allow them to make ends meet just long enough for them to get back on their feet. People who abuse the system are ones who draw on it for ages and never chip in and end up giving welfare a bad name. But if you legitimately need the money due to a hardship (house was damaged by the storm, lost job, have a new 60k/year expenses known as medical school...) I think it would be acceptable to draw from that with the intention of paying back into the pot later (or for those of us who work, chipping into the pot now).

In any case, I'm not in that situation yet so maybe i'll feel differently then, but that's my 2c!

I have to disagree. Choosing to attend medical school (a self-selected privilege) is something one signs up for, not something one just falls into (like real world hardship). I think we all know what we're signing up for and that includes, in most cases, thousands of dollars in debt. I feel that food stamps are a last resort, not necessarily for medical students from "middle class families," but to each their own. It just seems... wrong. However, maybe I'm a bit disillusioned when it comes to financial matters involving family etc. I can understand trying to survive on your own or your parents refusal to fork it over, but food stamps are for those momentarily disadvantaged by involuntary circumstance IMHO.

This is SDN, I key in on the littlest things, i.e. URM quips and other prejudice. So, when I skimmed the post "minority" and "food stamps" just jumped out at me .

Yes.

Succinct . Why? There's no time to wait or a few hours of retail? I know med school's intense, but...

 

[DrBowtie]

I have to disagree. Choosing to attend medical school (a self-selected privilege) is something one signs up for, not something one just falls into (like real world hardship). I think we all know what we're signing up for and that includes, in most cases, thousands of dollars in debt. I feel that food stamps are a last resort, not necessarily for medical students from "middle class families," but to each their own. It just seems... wrong. However, maybe I'm a bit disillusioned when it comes to financial matters involving family etc. I can understand trying to survive on your own or your parents refusal to fork it over, but food stamps are for those momentarily disadvantaged by involuntary circumstance IMHO.

This is SDN, I key in on the littlest things, i.e. URM quips and other prejudice. So, when I skimmed the post "minority" and "food stamps" just jumped out at me .



Succinct . Dang, why? There's no time to wait or a few hours of retail? I know med school's intense, but...

Your time is worth far more than your retail wage per hour.

The only people who find it worthwhile to work are those who had previous healthcare jobs that can pick up shifts whenever they want for some serious $$$/hour.

 

[HealthHare]

Your time is worth far more than your retail wage per hour.

The only people who find it worthwhile to work are those who had previous healthcare jobs that can pick up shifts whenever they want for some serious $$$/hour.

Agreed, Time is Money

 

[ccmonopolies]

Just FYI, for my last cycle:
I spent $1,245 on 43 primary schools
$2730 on 38 secondaries
$1758 on travel expenses to 7 interviews (all of which I stayed with student hosts)

total: $5,733

I know people who spent more so this is not on the high end. (I think SDN made me more neurotic about applying to more schools).

What do I get after applying? The right to pay an additional $200,000+ for a M.D. after my name.

Start saving if you haven't already. Best of luck.

 

[CatchingUp]

Also, I am single and have no dependents. I do live with a roomate who is also living the food stamp dream.

I also could not have come from a more white and middle class family, if that makes a difference

One more thing, $200 is the standard payment for single people with out income. Not sure what you would get if you had kids, ect.

And actually, I'm still UG and know of PLENTY students here that are using "stamps"...it depends on the state...and as for ours working doesn't necessarily disqualify you...rather it reduces the amount you're eligible for.

 

[gp14]

Just FYI, for my last cycle:
I spent $1,245 on 43 primary schools
$2730 on 38 secondaries
$1758 on travel expenses to 7 interviews (all of which I stayed with student hosts)

total: $5,733

I know people who spent more so this is not on the high end. (I think SDN made me more neurotic about applying to more schools).

What do I get after applying? The right to pay an additional $200,000+ for a M.D. after my name.

Start saving if you haven't already. Best of luck.

Wow, thanks for sharing. That should help me and some other people get a rough estimate of how much money we need to save.

 

[45408]

Succinct . Why? There's no time to wait or a few hours of retail? I know med school's intense, but...

Try it. See how it works. You have free time, but the mental pressure is no small issue. Plus, you need a flexible schedule. Near exam weeks you might have no free time at all.

 

[Dannyw]

My wife will pay.....

-I feel terrible saying that. I hope to find some way of making money.

 

[Dannyw]

All of my friends do, but we are a minority. Most people don't realize they are eligible and others are too "proud" or some other garbage to take them (haters gotta hate, what can I say)

I figure I'll pay back more than my share once I'm a doctor, so I dont feel bad about taking the assistance. It helps out more than you can imagine, and most importantly we are all eligible.

Why work when you can be given money!

We used stamps for a few months while transitioning into a new job and apartment. It was a great thing to have, but we didn't abuse it and cut up the card shortly after.

 

[ccmonopolies]

Wow, thanks for sharing. That should help me and some other people get a rough estimate of how much money we need to save.

You're welcome. I think that if you apply to roughly 25 schools with equal amounts of reaches, matches, and safeties, you can probably cover everything with around $4k.

Good luck.