A question for some of the current students (and if any incoming students have info, I'd love to hear it too): What is a more realistic budget for "living expenses"? Or is the FinAid office's estimate of around $17000 pretty accurate? Just wondering for loan purposes...speaking of which, if you don't mind sharing, what lenders have looked best to you guys? I'm still doing my research on them to finalize...
I lived by myself in a more expensive location (cause i thought it was safer...car was still broken into) during M1 and M2 year and used most of the loan money they gave us. You must remember that the money given might have to stretch you through the summer after M1 year if you don't get a job (you will want to relax, trust me). Also you will be buying books, possibly a computer, stethoscope, late nights on Beale St., etc.
M3 year I took out all the money and used $5000 less because i lived with a roommate. This is good because i am trying to save up for interviews.
Monthly Budget needs to include: rent (?), Utilities (100?), cable (100), phone (70), food (200-300), fun, clothes, school supplies. Budgets don't work for me though.
Don't forget health insurance (stay on your parents for as long as possible, then switch to school or other cheap option) and car insurance.
[On that note, when you get your registration for the fall (aka your bill) you will be charged for student health insurance automatically....don't panic. If you want it, just let them charge you for it and you will be automatically enrolled. If you would rather use your parents or some other health ins policy, go to the registrar's ofice in the hyman building and show them your card, cross it off on your bill, and you won't be charged. Also there is a HepB Vaccination Charge. If you have already been vaccinated you can go to the health center on the 9th floor of 910 Madison and get them to draw a blood level to prove your vaccination status and they will mail you a rebate.]
Best thing to do is take out all of the money and if you don't use it all, write your lender a check at the end of the year with the extra.
As far as the lender goes, I use EdFinancial. They didn't go under with the rest of the companies during the student loan crisis this year and they communicate well. Also, they have an office in TN. Go with whomever you feel comfortable though. Read some of the fine print to see who is offering the best deals.