Loans

[Mxt1990]

hey guys

So I did two years masters which I have loans from. Will this cause problems for loan borrowing in pharmacy school?

Thanks

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[Humble Sloth]

hey guys

So I did two years masters which I have loans from. Will this cause problems for loan borrowing in pharmacy school?

Thanks

It certainly wont not cause problems

 

[Mxt1990]

It certainly wont not cause problems

Thank youn!!'

 

[PromisedNeverland]

It certainly wont not cause problems

lol, I think you will have to elaborate as @Mxt1990 did not get that double negative

 

[Humble Sloth]

lol, I think you will have to elaborate as @Mxt1990 did not get that double negative

if someone can't understand double negatives they are gonna have a lot bigger issuses paying back their student loans.

 

[lavenderhearts]

I know I will have at least $230,000 in loans once I finish Pharmacy School. Is it true that you work for the military, the federal government or a non profit organization that you can get your loans forgiven?

 

[Humble Sloth]

I know I will have at least $230,000 in loans once I finish Pharmacy School. Is it true that you work for the military, the federal government or a non profit organization that you can get your loans forgiven?

$230,000
how could you get this high in loans? you must've lived in luxury housing

 

[ThomasHT]

$230,000
how could you get this high in loans? you must've lived in luxury housing

Undergraduate instate at UVM (flagship state school of Vermont) at $28,000/year is $112,000 for four years. UPitt tuition is ~$34,000/year out of state. Four years is $136,000. Arithmetic leads us to $248,000 in student loans. Granted this is assuming no financial aid and the such, but I'm pretty sure it's more than obvious how one can rack up $200,000+ in loans from 8 years of schooling.

Also, loan forgiveness extends to pharmacists working in 501(3)c jobs (most hospitals) so long as 120 payments are made on time.

 

[Humble Sloth]

Undergraduate instate at UVM (flagship state school of Vermont) at $28,000/year is $112,000 for four years. UPitt tuition is ~$34,000/year out of state. Four years is $136,000. Arithmetic leads us to $248,000 in student loans. Granted this is assuming no financial aid and the such, but I'm pretty sure it's more than obvious how one can rack up $200,000+ in loans from 8 years of schooling.

Also, loan forgiveness extends to pharmacists working in 501(3)c jobs (most hospitals) so long as 120 payments are made on time.

It's irresponsible to get that much debt for a simple pharmD that you can get in four years. 1 year prereqs at community college + 3 year accelerated program

 

[PromisedNeverland]

I know I will have at least $230,000 in loans once I finish Pharmacy School. Is it true that you work for the military, the federal government or a non profit organization that you can get your loans forgiven?

nope , it's not true.. that's not how it works at all

 

[BC_89]

I know I will have at least $230,000 in loans once I finish Pharmacy School. Is it true that you work for the military, the federal government or a non profit organization that you can get your loans forgiven?

Any job that offers tsp (and of course the uniformed services) do offer a small percentage of loan forgiveness each fiscal year. However, ibr will be your best bet which is lower minimal payments than what you normally would pay. Caution though, your interest piling on your principle stays compounded all the way until 120 months of payments being made. In other words, if you forget/fail to show proof of your payments and federal service job or uniformed service contract (yes, for 10 years you wrk for a "tsp-driven" job and don't opt out of it), then the forgiveness is forgotten and you must now pay the remainder of your loan with its new and higher acquired interest rate...scary, but true...

Truth of the matter, live frugally and pay it off ASAP on your own...don't trust the DOD and the gov to pay it all off. It only takes 1 economic pinch and your thrown under a bus with your debt (coming from an active duty service member).

 

[ldiot]

Undergraduate instate at UVM (flagship state school of Vermont) at $28,000/year is $112,000 for four years. UPitt tuition is ~$34,000/year out of state. Four years is $136,000. Arithmetic leads us to $248,000 in student loans. Granted this is assuming no financial aid and the such, but I'm pretty sure it's more than obvious how one can rack up $200,000+ in loans from 8 years of schooling.

Also, loan forgiveness extends to pharmacists working in 501(3)c jobs (most hospitals) so long as 120 payments are made on time.

I really hope nobody is stupid enough to actually borrow $112,000 for a freaking undergraduate degree.

 

[lavenderhearts]

Any job that offers tsp (and of course the uniformed services) do offer a small percentage of loan forgiveness each fiscal year. However, ibr will be your best bet which is lower minimal payments than what you normally would pay. Caution though, your interest piling on your principle stays compounded all the way until 120 months of payments being made. In other words, if you forget/fail to show proof of your payments and federal service job or uniformed service contract (yes, for 10 years you wrk for a "tsp-driven" job and don't opt out of it), then the forgiveness is forgotten and you must now pay the remainder of your loan with its new and higher acquired interest rate...scary, but true...

Truth of the matter, live frugally and pay it off ASAP on your own...don't trust the DOD and the gov to pay it all off. It only takes 1 economic pinch and your thrown under a bus with your debt (coming from an active duty service member).

Thank you for the advice and I was really thinking about just doing what you said which live under my means and pay $36,000 for 7 seven years and the pharmacy school I want to go to offers scholarships to underrepresented minorities that present financial need and I am one of them.