A tough decision

[trudub]

I was wondering if maybe some of you medical students could shed some light on my tough decision. I am not trying to be some cock or anything or brag myself up. I would like some honest help with a tough decision. Here is the question: If you had to choose between a middle tier state school (excellent in primary care, which I am not really interested in) where you have a full ride scholarship or a top 5 school where you have no scholarship at all. What would you do? Or how would you evaluate your options?

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[jbish]

I made a list of pros and cons and tried to weight them...like weather weighted more than how new the lab facilities were, etc. In the end, money ended up being a pretty big factor for me so I chose the cheaper option. It was also an easier option as I'd gotten into the school months before my other option so I'd already made arrangements for an apartment and hauling my stuff up there.

 

[Stinger86]

Originally posted by trudub
I am not trying to be some cock or anything or brag myself up.

That's an interesting way to put it.....



Unless you have the insatiable urge to become some world-renowned physician with only the best credentials money can buy, I would advise you to take the scholarship. But more importantly, choose a school based on its program (i.e. does it fit you, do you feel comfortable being there) and not just where it's ranked or how much money you're offered. Talk to some of the students at each school and find out how they like it. Then you can make a better informed decision.

As long as you commit to your studies and patients and work hard, you can be successful following 4 years at any school, be it Podunk U or Hopkins. Where you go is often not as important as who you know, what you know, and what you can do.

 

[tidy_kiwi]

Unless you have the insatiable urge to become some world-renowned physician with only the best credentials money can buy, I would advise you to take the scholarship. But more importantly, choose a school based on its program (i.e. does it fit you, do you feel comfortable being there) and not just where it's ranked or how much money you're offered. Talk to some of the students at each school and find out how they like it. Then you can make a better informed decision.

I think that is probably the best advice anyone will be able to give you....although I don't really think it matters which school you go to in the long run: every school will turn out some good doctors and some not-so-good ones....its what you do with your education when you have finished that will really matter.

 

[12R34Y]

Go state school.........It's free!

why would you want to be in HUGE debt when you don't have to be.

You'll get the same degree at the end of four years. You'll more than likely get whatever residency you want regardless of school unless you just suck as a student........

option 1. start residency at typical resident's salary owing 100,000.00 or more possibly.

option 2. start residency at typical resident's salary owing NOTHING!

i think this a huge no brainer.

go for free. learn the same stuff. makes sense to me.

jmho

later

 

[dave262]

.

 

[ice_23]

But also consider posterity as well (if that's important to you). Like giving ur kids an alumni link at that top 5 school will let them have an easier time getting in to those very schools when they apply (esp. if it's a harvard/yale type private school).

I dunno, after the difficulties I felt I had to go thru with the application process, I would like for my kids to have an upper hand in admissions. But that's of course just my opinion.

-Ice

 

[Blade28]

If you went to the "lower tier" school, would you regret not going to the "upper tier" school? How about vice versa?

 

[IlianaSedai]

option 1. start residency at typical resident's salary owing 100,000.00 or more possibly.

option 2. start residency at typical resident's salary owing NOTHING!

Yeah, that pretty much sums it up. In the end, it's up to you, many people have chosen the first option, many others have chosen the second one.

At 21 or 22 it probably doesn't make a huge difference; on the other hand, it will make some difference to your life at age 28 or 30, after you graduate. Because by 28 or 30, lots of us are starting to think marriage, family, buying a house, etc. So the difference between owing $0 and owing $100,000 is much bigger at age 28 than it is at age 21. It does become a hardship and something you have to deal with (an emotional stressor, if you will), especially if you can't wait to buy your first house. I'm really very glad that I won't be getting married with a huge debt-- finances are a bad enough stressor without that. Being debt-free is a huge perk, especially once a significant other/spouse (+/- children) are involved.

On the other hand, a Top 5 school could give you a little extra boost toward getting a residency interview. A lot depends on what you want in the end, after you graduate-- for example, if a top academic residency program is more important to you than, say, where you want to live, or if you want to go into an extremely competitive specialty.

I don't think the "alumni connection" for your children is worth the money (sure, might help a little for an Ivy League, but being a UCSF or Hopkins med alum ain't gonna get your kids into college, sorry-- best you just buy them those SAT prep books).

 

[summervacation]

Hi guys,

I'm in the same situation as trudub who began this thread except that my state medical school is in the top 10 of USNews, which I think changes the situation slightly. I was under the impression that the debt accumulated from paying for med school could fairly easily be paid off within a few years of practicing medicine (post-residency). I'm strongly considering a career in academic medicine so do you think it's worthwhile for me to choose a top private school over a full tuition scholarship at my state school? I'd really appreciate your thoughts on this.

 

[jbish]

Originally posted by summervacation
. I was under the impression that the debt accumulated from paying for med school could fairly easily be paid off within a few years of practicing medicine (post-residency).

Well, that depends, doesn't it. Think about it this way....are you signing on to a 300K a year anesthesiology group or 85K a year pediatrics practice? Are you married? Do you have kids? Are you going to be happy still living in that studio apartment for a few more years or do you feel you need to put a down payment on a house right away? Are you living somewhere where you can still take the bus to the hospital or do you need to buy a car? What others factors could be keeping you in debt (spouse's costs, private schools, undergrad loans, moving expenses, credit cards)? And...the big one...did you end up only taking out 40K in loans for med school cuz you went to your state school for free and only had to pay living expenses or are you looking at 200K of debt (and that interest is accumulating as we speak!) cuz you went to Tufts and had to pay to live in Boston and their outrageous tuition. It's gonna be a lot easier for me to pay of 50/60K of debt than the 160 I was looking at with Tufts or USC.

 

[kojack]

Without a doubt, go to the state school with a scholarship, for all of the reasons listed above. By the way, the fact that this school is "excellent for primary care" doesn't mean you have to go into it, there will be plenty of opportunities regardless of specialty. Probably no more than half go into primary care anyway.

 

[KyGrlDr2B]

Originally posted by kojack
Without a doubt, go to the state school with a scholarship, for all of the reasons listed above. By the way, the fact that this school is "excellent for primary care" doesn't mean you have to go into it, there will be plenty of opportunities regardless of specialty. Probably no more than half go into primary care anyway.

I was going to say this. Just because a school is excellent in primary care doesn't mean that everyone ends up going that route. They still have to teach you everything else! Looking back, I wish I had tried harder to get some money thrown my way because it would be nice to graduate owing less. It would be nice to be able to start residency with a place to live and a new car, but I'm going to be owing out the wazoo. On the bright side, I have no loans from undergrad so at least I'm in a better place than some. I would say choose the expensive school only if you want to say "Oh, I go to/went to blah blah" or if you want to be some hot shot later in life. Otherwise, go cheap! You learn the same stuff and you get the same degree when you graduate.

 

[Mutterkuchen]

By the way. . . Unless you have someone (scholarship, spouse, or parents) to pay some of your bills in med school, there is virtually no way that you can leave a private medical school with less than $200,000 in debt.

$200,000 is a conservative estimate, considering the fact that med school tuition rates are going op 5-7% per year. The lower averages that schools use are BS. They are usually for people who started school 7-8 years before you did, and incorporate military, NHCS and other scholarship recipients.

 

[ice_23]

Originally posted by IlianaSedai

I don't think the "alumni connection" for your children is worth the money (sure, might help a little for an Ivy League, but being a UCSF or Hopkins med alum ain't gonna get your kids into college, sorry-- best you just buy them those SAT prep books).

That's true, your child has to still work in high school and college. But I've seen too many instances when I go "wtf?" only to realize that the person was a beneficiary of an alumni connection here or there.

It does help for many schools; and it's something to consider (I'm also talking ugrad here mostly, but it'll help, to a lesser degree, with med school).

-Ice

 

[trudub]

At the school that I said was "excellent in primary care", I know two individuals (and they may be the exception to the rule) who left the school because they felt so pressured to go primary care. They felt every bit of the curriculum was designed to produce PCP's and they felt they were almost shunned if they wanted to go into something other than primary care. I am fairly certain that I don't want to go into primary care and that worries me. Further, one person asked if I would regret not going to school A if I went to school B or vice versa. I think I would desire parts either way. I really like the school that I don't have the scholarship at, a lot more than the one I do. However, a debt-free medical school route lets me enjoy life sooner which is also a primary factor. Keep the replies coming. It is interesting what you all have to say.

 

[mr.pink]

Originally posted by JBJ
By the way. . . Unless you have someone (scholarship, spouse, or parents) to pay some of your bills in med school, there is virtually no way that you can leave a private medical school with less than $200,000 in debt.


This is absolutely the truth.
But it doesn't mean you can't or shouldn't go into primary care if you go to an expensive school. Just manage your money and your debt wisely and you'll be fine just like the many many people who have done this before you and are now doing very well.