2011-2012 University of Vermont Application Thread

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
Status
Not open for further replies.
pbnj89 said:
http://www.uvm.edu/~stdfinsv/?Page=medbudgets.html


If you add the total estimates for each year its 291,697$....wow, i cant believe it.
Click to expand...

At my interview day in November they said that the average indebtedness of graduating seniors is ~$283,000. Keep in mind that since it's an average, YMMV.

It's a staggering number, but in reality the additional dollars above similarly costly schools will be amortized over the course of a long and productive career.

Or at least that's what I'm telling myself. UVM is my #1 choice, so I'll ecstatically pay the premium if I receive good news.
 
Docsted said:
Has anyone heard anything today?
Click to expand...

+1, my status is still "Your file will now be reviewed by the Admissions Committee and you will be notified in the coming weeks regarding the final decision of the committee." Interviewed end of Feb.
 
To current UVM students:

Are there any activities planned for parents during Revisit Day? Or is this just for admitted students? Thanks!

D.
 
OMG, just got accepted today! Interviewed last week! OOS 3.1 GPA 27M MCAT
 
NMonte82 said:
At my interview day in November they said that the average indebtedness of graduating seniors is ~$283,000. Keep in mind that since it's an average, YMMV.

It's a staggering number, but in reality the additional dollars above similarly costly schools will be amortized over the course of a long and productive career.

Or at least that's what I'm telling myself. UVM is my #1 choice, so I'll ecstatically pay the premium if I receive good news.
Click to expand...

I think they actually said that if you take out all loans at the max Cost-of-Attendance, you'd graduate with $283,000. The average indebtedness was less than that because of scholarships and taking out less than the max loans, etc. It's a cold comfort but at least it's not QUITE that high.
 
Did anyone on the WL hear anything today? I'm starting to lose hope now...
 
aker321 said:
I think they actually said that if you take out all loans at the max Cost-of-Attendance, you'd graduate with $283,000. The average indebtedness was less than that because of scholarships and taking out less than the max loans, etc. It's a cold comfort but at least it's not QUITE that high.
Click to expand...

Thanks,that sounds correct. I think I got my wires crossed and misspoke because I know the majority of my education will be all loans (I don't expect anything in the way of family contribution) with a few potential scattered small grants/scholarships.
 
NMonte82 said:
Thanks,that sounds correct. I think I got my wires crossed and misspoke because I know the majority of my education will be all loans (I don't expect anything in the way of family contribution) with a few potential scattered small grants/scholarships.
Click to expand...

::sigh:: Me too 🙂 I was listening carefully when they mentioned scholarships but alas...it wasn't meant to be. Here we go $300k in debt, yahoo!
 
AspiringD said:
Thank you for your reply Dr. Marty. Would you happen to know how often she looks at the WL or what is the basis for selecting the applicants? It is just so uncertain how it all works if there's no rating of the candidates...😕
Click to expand...

Well I'm honestly not entirely sure but I think she pulls people off of the waitlist after each admissions committee. That's what happened with me at least.
 
Aama628 said:
Did anyone on the WL hear anything today? I'm starting to lose hope now...
Click to expand...

Still plenty of acceptances to go out in May and June, if history is any guide. Many students could tell you all about their spring acceptances that got them here...

bballa2323 said:
OMG, just got accepted today! Interviewed last week! OOS 3.1 GPA 27M MCAT
Click to expand...

Poww said:
I call BS.
Click to expand...

I would not be so quick to judge. Numbers always matter a lot less past the interview stage and there are certainly people here with those kinds of stats . Things tend to happen fast this time of year, as I mentioned above....
 
No stats judgment here. Interview season finished early April this year. The adcom is meeting this week and are still reviewing files from February interviews. Trolling with false admit info is not appreciated.
 
So a current UVM student told me that all students receive a $10k/year scholarship from the alumni association but it seems like that's not true from the posts in this thread. Can anyone clarify this?
 
safarix said:
So a current UVM student told me that all students receive a $10k/year scholarship from the alumni association but it seems like that's not true from the posts in this thread. Can anyone clarify this?
Click to expand...

sounds like a rich alumnae association
 
safarix said:
So a current UVM student told me that all students receive a $10k/year scholarship from the alumni association but it seems like that's not true from the posts in this thread. Can anyone clarify this?
Click to expand...

That is definitely not true. I am a first year student and I only received loans.
 
aker321 said:
I think they actually said that if you take out all loans at the max Cost-of-Attendance, you'd graduate with $283,000. The average indebtedness was less than that because of scholarships and taking out less than the max loans, etc. It's a cold comfort but at least it's not QUITE that high.
Click to expand...

Unfortunately, if you were to take out all loans at the maximum COA (using the figures from here: http://www.uvm.edu/~stdfinsv/?Page=medbudgets.html=) you would need to take out $292,000 total. This is only a 9k difference from the amount quoted above, but the real difference is that the 292k is not the debt you would graduate with, but the amount that you would initially borrow. The actual amount of debt you would graduate with would be that 292k PLUS annual interest accrual at 6.8 - 7.9% all 4 years.

I know its depressing, but I found the following calculator to be very helpful (you can use it as a guest or sign in with you AAMC account to have it save inputted values for next time):
https://services.aamc.org/30/first/home/organizer
Enter the loan amounts in the Organizer and then click on the Calculator to see results.

Here is a scenario I made for Joe Shmoe:
- Joe is so incredibly stoked to have gotten into UVM, his first choice school!
- Joe has little to no savings and his parents are not in the position to help him out financially. He does feel that the military or public service programs available would be a good fit for him.
- Joe is paying the full COA all 4 years with Stafford loans and Grad Plus loans only. I averaged the COA to be approx. $73,000/yr. If we assume a generous $42,000 in Stafford loans (I believe the max is around $45k nationally, I believe it is school-specific and I do not know the max at UVM) that leaves $31,000 in Grad Plus loans for Joe each year.
- Joe opts for a short residency (3 years) in something like Family Medicine. He has a starting resident salary of 50k and a starting physician salary of 150k (I am not making any claims about the future of resident or physician salaries or accurate averages, I just used these numbers for a quick and optimistic estimate)
- Joe is smart guy so he opts for IBR during residency instead of forbearance and begins paying back around 10% of his residency salary each year.

The results:
Joe took out $292,000 in loans.
When he graduates from his residency, Joe will be $398,000 in debt (he would be 411k in debt if he forbears).
If Joe pays back his loans on a standard repayment schedule, he is looking at paying back around $530,000 in total (after living frugally for the 7 years after residency). There are other options that would allow him to pay back less, over more time - this is merely a short-term example.

The numbers are scary but I am not trying to convince anyone to choose a more or less expensive school due to cost. I chose an expensive private school for my undergraduate education and I do not regret it for a second. But what I do regret is how uninformed I was about the particulars of my student loans. I made decisions like that of deferring payment for a year (while back in school) without really understanding the amount of interest that would accrue and I was shocked when I began making payments and found out that I had to pay more than 40% of my salary just to meet the minimum. My first few years after college would have been less stressful if I had really understood the ins and outs of my loans from the beginning.

Every medical student who is going to be financing their education primarily or exclusively with loans should have a realistic understanding of the financial debt they are taking on. Don't believe the doomsayers who claim that a pricey medical school education will leave you destitute for the rest of your life. But, you also shouldn't believe the naive kids who flippantly repeat something along the lines of "But you'll be a DOCTER! You'll be so loaded you won't even notice a half million in loans!" Instead, utilize loan calculators such as this one, financial aid advisors, (heck even an accountant could be helpful) and sources you trust to get the facts straight. It will certainly pay off when you graduate with a level of debt and a payment plan that you were anticipating.
 
bonoboMD said:
Unfortunately, if you were to take out all loans at the maximum COA (using the figures from here: http://www.uvm.edu/~stdfinsv/?Page=medbudgets.html=) you would need to take out $292,000 total.....[Shortened to avoid über-long quote length].........It will certainly pay off when you graduate with a level of debt and a payment plan that you were anticipating.
Click to expand...

...And boom goes the dynamite.



Excellent post. Hit the nail square on the head. 👍
 
has anybody who was expecting to have their application reviewed by the committee this week for a post-interview decision had their status change on the web portal yet?

mine hasn't changed. thx
 
Pennilane said:
has anybody who was expecting to have their application reviewed by the committee this week for a post-interview decision had their status change on the web portal yet?

mine hasn't changed. thx
Click to expand...

+1. I've been compulsively checking the portal over the past couple days lol When did you interview? GL :luck:
 
I believe monday is the day we will begin to hear back
 
I can't believe I'm saying this but the weekend can't end soon enough.
 
Withdrew my acceptance from UVM on Friday. Good luck to those still waiting!!! (oh and I'm OOS)
 
bballa2323 said:
OMG, just got accepted today! Interviewed last week! OOS 3.1 GPA 27M MCAT
Click to expand...
OMG, just got accepted today! Interviewed last week! OOS 3.1 GPA 27M MCAT

Did you mean Science GPA 3.1? and this is at UVM correct?
 
I hope to hear today from Admissions, I am frantically refreshing the status every 5 mins.
 
mshah1 said:
I hope to hear today from Admissions, I am frantically refreshing the status every 5 mins.
Click to expand...

Same here. What's worse is that I woke up from a nightmare that I was rejected from this school. I dreamed that they sent me an e-mail detailing how all my recommendations and EC's were great and they really liked my app and then at the very end they rejected me because of my GPA. Then I woke up sad... God I hate the application process.
 
I called admissions today and was told the committee met for the last time next week so from now one it's up to the director and whoever the next person is (can't remember). Basically using their "method" they are going to start selecting people of the waitlist...The person I spoke to said that a lot of movement will be happening up until May 15 so that people who are holding more than one spot will be able to drop etc. I am becoming a nervous wreck lol. Seriously I wish they would just put me out of my misery.
 
danmari said:
I called admissions today and was told the committee met for the last time next week so from now one it's up to the director and whoever the next person is (can't remember). Basically using their "method" they are going to start selecting people of the waitlist...The person I spoke to said that a lot of movement will be happening up until May 15 so that people who are holding more than one spot will be able to drop etc. I am becoming a nervous wreck lol. Seriously I wish they would just put me out of my misery.
Click to expand...

Small point, but I'm guessing you meant to say that the committee met for the last time *last* week?

Regardless, thanks for calling and posting here! It's always good to get a bit more information....not that it calms any of our nerves to any great degree 😛
 
NMonte82 said:
Small point, but I'm guessing you meant to say that the committee met for the last time *last* week?

Regardless, thanks for calling and posting here! It's always good to get a bit more information....not that it calms any of our nerves to any great degree 😛
Click to expand...

Yea lol that's what I meant. Yw btw and good luck!
 
Wow...all these new developments are making me even more nervous. I am going to refrain myself from checking my emails at work in the coming weeks. GL to everyone waiting!
 
danmari said:
I called admissions today and was told the committee met for the last time next week so from now one it's up to the director and whoever the next person is (can't remember). Basically using their "method" they are going to start selecting people of the waitlist...The person I spoke to said that a lot of movement will be happening up until May 15 so that people who are holding more than one spot will be able to drop etc. I am becoming a nervous wreck lol. Seriously I wish they would just put me out of my misery.
Click to expand...

Did they elaborate on their "method" of selecting people off of the WL at all? I have always wondered how they take people out of WL!
 
Status
Not open for further replies.

Similar threads

wysdoc
2024-2025 Vermont
9 10 11 12 13
Replies
643
Views
177K
markinho
M
wysdoc
2024-2025 University of Washington
10 11 12 13 14
Replies
680
Views
145K
stew_md
S
wysdoc
2024-2025 University of Chicago (Pritzker)
12 13 14 15 16
Replies
778
Views
204K
X0001234
X0001234
wysdoc
2024-2025 Medical University of South Carolina
3 4 5 6 7
Replies
302
Views
58K
hbic2025
H
wysdoc
2024-2025 University of Central Florida (UCF)
3 4 5 6 7
Replies
318
Views
73K
LaurelePoole
L
Top