Admissions this cycle--Why are schools extending their deadlines?

[Dr.iz-n]

Left and right all these schools are extending their deadlines. I see today that Creighton pushed their deadline to March 1st. What's up with this trend this year? A lot schools seem to be doing that this year? What are your thoughts about this? Is there a lower number of applicants this year or what (i think this came up on another thread for mercer and how they extended their deadline)

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[lola87]

I think there are not enough applicants or maybe not enough qualified applicants...whatever it is I'm not complaining

 

[Duc888]

.

 

[Duc888]

agree with the low # of applicants theory. pharm school is expensive and college students/parents are already saddled with plenty of debt of all flavors. community college enrollments are way up though. another large round of ARM resets are coming just around the corner in the housing market and that is going to mean pain for many

 

[Dr.iz-n]

Ha, ha, I feel you! So I agree with your statement. I think that schools may not be getting a lot of applications, thus less supplemental money, so they are extending the deadlines. I think it's a money issue for schools (extra income needed) and the applicant pool might be different...

I think there are not enough applicants or maybe not enough qualified applicants...whatever it is I'm not complaining

 

[Basilone]

I was actually think about this today. There must be an overall decrease in the number of applicants. At last count I had 6 schools extending deadlines.

 

[Pharmgrlnxdor]

with the new schools that are having their first class this cycle there are more overall spots for pharmacy students. Then add the crummy economy resulting in less applicants this year and you have too many spots and not enough qualified people trying to fill all of those spots. I would think that as more and more schools open there will be less and less high quality candidates per school, unless schools can differentiate themselves in some way like by reputation, cost, etc.

 

[Dr.iz-n]

I understand about the economy--I definitely can understand becuase I almost didn't apply because I got laid off last year from my job and wasn't sure how I would pay for application fees and trips for interviews (luckily I got a new job in August). However, I do think that since there are more schools, there are more options.
I would have to really sit and count the number of extended deadline notices we have gotten from pharmcas...
You gave me some good food for thought...

with the new schools that are having their first class this cycle there are more overall spots for pharmacy students. Then add the crummy economy resulting in less applicants this year and you have too many spots and not enough qualified people trying to fill all of those spots. I would think that as more and more schools open there will be less and less high quality candidates per school, unless schools can differentiate themselves in some way like by reputation, cost, etc.

 

[Filler]

I think its a number of issues, including the number of newer schools popping up, it's spreading the application pool very thin in some areas. That, accompanied with the pharmacy surplus talk is probably driving away some applicants into other fields?...

But then again what do I know..

 

[atticus27]

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

 

[Brunsizzle]

Some schools are new to Pharmcas this year as well and this may be playing a role.

 

[Filler]

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Haha, how could I be so naive and overlook that. Makes sense... get a hundred or so more supplemental applicantion fee's, cash them, and then promptly send them a rejection letter...

 

[KMIMSM]

could someone explain to me why some schools such as Appalacian went from NO supp app and fee required to YES required with a $100 fee??

there's another school that did the same thign i forget which one.

 

[sUrface]

could someone explain to me why some schools such as Appalacian went from NO supp app and fee required to YES required with a $100 fee??

 

[apteryx]

^ ROFL, I was just going to quote the $$$$$$$$$$ reply above. Nice.

 

[myska]

I think it has more to do with how early some other schools have their deadlines. I'd say most of us have found out about admissions decisions for at least some of our schools now. Those with a bleaker outlook can now apply to the schools with extended deadlines, that maybe they hadn't thought to apply to before.

It may be a good way for schools to get more money, but it also gives some people a second chance if their first round of applications didn't go so well.

 

[boltdude]

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

+1

Schools are hurting because of the economy. I personally think this is the primary reason why they extended deadlines.

 

[confettiflyer]

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

bingo. it's like schools that don't accept transfer students who let you apply anyway, or schools where the applicant doesn't meet the minimum GPA requirements let them apply anyway (pharmcas + supplemental) and auto reject once the supplemental $$ comes in.

btw your avatar is disturbing.

 

[pearljam5a1]

My school didn't require a supplemental fee until after acceptance... it was a nice surprise.

Shennandoah on the other hand mailed me a letter demanding the supplemental fee and then the next day I got a rejection letter. I would have been really angry if I sent out a check and the next day I got a rejection letter.

I actually filled out Appalachia's supplemental completely (it's pretty damn long if you haven't seen it) but couldn't bring myself to mail it.

 

[Moni526]

I have had this experience with two of the schools I have interviewed at so far. I was told one school in particular extended their deadline because there were barely any applicants. With the economy so bad right now, a many people are graduating with a bachelor's, saving some money, then starting pharmacy schools afterwards. But the good thing in this mess is that since there aren't as many applicants as usual, the demand for us will be much HIGHER when we graduate, so we may end up getting a good deal out of being Class of 2014! =)

 

[Dr.iz-n]

Very interesting. I'll be very curious to see what the admitted stats are for the incoming class this year. I guess it must be the economy. I can't believe there are some schools with a small number of applicants. Wow!

I have had this experience with two of the schools I have interviewed at so far. I was told one school in particular extended their deadline because there were barely any applicants. With the economy so bad right now, a many people are graduating with a bachelor's, saving some money, then starting pharmacy schools afterwards. But the good thing in this mess is that since there aren't as many applicants as usual, the demand for us will be much HIGHER when we graduate, so we may end up getting a good deal out of being Class of 2014! =)

 

[Tinkerbell22]

I have had this experience with two of the schools I have interviewed at so far. I was told one school in particular extended their deadline because there were barely any applicants. With the economy so bad right now, a many people are graduating with a bachelor's, saving some money, then starting pharmacy schools afterwards. But the good thing in this mess is that since there aren't as many applicants as usual, the demand for us will be much HIGHER when we graduate, so we may end up getting a good deal out of being Class of 2014! =)

That's what I did. I graduated from college in May 2009 but I waited a year... I'm working on an MBA now, but I didn't have to move away for it or spend a lot of money on the application, interview process, etc. Plus I wanted to finish more pre-reqs so I could apply to more schools with Microbio, Biochem, etc. The MBA is also teaching me a lot of things that I did not do much of in the science department at undergrad. I am writing mutiple papers every week, etc. Plus I don't think it would hurt if I ever wanted to go into health care administration or something like that. I mainly want to do a residency to get extra training in geriatrics for LTC pharmacy, but I was thinking the same thing about graduating in 2014 as well. I think there will be more graduates because of the new schools who haven't have a P4 class yet, but who knows...

 

[confettiflyer]

c/o 2013 at Jefferson had several people defer their admissions offer for a year and cited economic conditions as the reason why. They will be joining c/o 2014 this fall.

Doesn't make sense to me, but then again I'm not in anyone else's shoes. You can borrow $45k for school ($30k to tuition). You can easily live off $15k of financial aid per year especially if you work over the summer.

Remember, each year delayed costs you $120k in lost salary. That's why I dove right in vs. trying to fight to get into top tier schools for 1-2 years.

 

[SHC1984]

I think bad economy should do the opposite (increase applicants!)...people usually prefer to have a job and make lots of money when the economy is good and if the economy is bad people usually go back to school b/c the economy is bad and jobs are not paying as well. That logic makes more sense to me.

 

[SHC1984]

c/o 2013 at Jefferson had several people defer their admissions offer for a year and cited economic conditions as the reason why. They will be joining c/o 2014 this fall.

Doesn't make sense to me, but then again I'm not in anyone else's shoes. You can borrow $45k for school ($30k to tuition). You can easily live off $15k of financial aid per year especially if you work over the summer.

Remember, each year delayed costs you $120k in lost salary. That's why I dove right in vs. trying to fight to get into top tier schools for 1-2 years.

Some people don't want to take out any unsub loans or grad plus loans, so they will try to save up their own money to avoid those high interest loans. You end up paying 2 dollars for every dollar you borrow if you include the interest on those loans during school.

 

[twhughe]

Some people don't want to take out any unsub loans or grad plus loans, so they will try to save up their own money to avoid those high interest loans. You end up paying 2 dollars for every dollar you borrow if you include the interest on those loans during school.

I am curious how you came up with $2 for every $1 borrowed? The only thing that I can think of is that you are amortizing the loan over 20+ years, which to me is crazy considering your will be making 80k+ after graduation.

 

[PonderingChoice]

Remember, each year delayed costs you $120k in lost salary.

No, just no. Median salary for a pharmacist is 105K in California. Then you add in taxes - that's another roughly 30K gone. Then you add in the costs of loans - these costs would be lower if you delayed your schooling and worked for a year. If you already have a decent degree, the lost salary is more like 30K. If you can take advantage of the stock market in this economy, you can easily add another several K... maybe decreasing the difference to 25K lost over your life-time. I'm not going to say delaying your admittance to pharmacy school is smart but it is nowhere near as unfavorable as you make it out to be.

 

[Moni526]

c/o 2013 at Jefferson had several people defer their admissions offer for a year and cited economic conditions as the reason why. They will be joining c/o 2014 this fall.

Doesn't make sense to me, but then again I'm not in anyone else's shoes. You can borrow $45k for school ($30k to tuition). You can easily live off $15k of financial aid per year especially if you work over the summer.

Remember, each year delayed costs you $120k in lost salary. That's why I dove right in vs. trying to fight to get into top tier schools for 1-2 years.

Yes, the P1 students that answered our questions on our interview told us that! But I definitely agree with you!

 

[confettiflyer]

No, just no. Median salary for a pharmacist is 105K in California. Then you add in taxes - that's another roughly 30K gone. Then you add in the costs of loans - these costs would be lower if you delayed your schooling and worked for a year. If you already have a decent degree, the lost salary is more like 30K. If you can take advantage of the stock market in this economy, you can easily add another several K... maybe decreasing the difference to 25K lost over your life-time. I'm not going to say delaying your admittance to pharmacy school is smart but it is nowhere near as unfavorable as you make it out to be.

err... no one refers to their income post-tax or considers their expenses. The starting is $54/hr for retail. My assumptions are 44hrs/week (4 being @ 1.5x OT differential). Further assumptions are that the pre-pharm elects to go back to school full time to improve the application and receives no income, or the tuition & income balance out.

 

[confettiflyer]

Some people don't want to take out any unsub loans or grad plus loans, so they will try to save up their own money to avoid those high interest loans. You end up paying 2 dollars for every dollar you borrow if you include the interest on those loans during school.

not if you go work for a 501(c)(3) under the public service loan forgiveness program!

I'm maxing out my student loans and will end up only paying $104k for a $200k balance in 10 years. PM me, you might like what I want to say.

 

[SHC1984]

not if you go work for a 501(c)(3) under the public service loan forgiveness program!

I'm maxing out my student loans and will end up only paying $104k for a $200k balance in 10 years. PM me, you might like what I want to say.

You have PM! Any guy that can find a job where you can eventually retire at 40 years old and get 50K a year for sitting at home is my new best friend on here!

Have a good night!

 

[PonderingChoice]

err... no one refers to their income post-tax or considers their expenses... Further assumptions are that the pre-pharm elects to go back to school full time to improve the application and receives no income, or the tuition & income balance out.

You're right, people typically don't refer to their post-tax income, but if you're comparing whether or not to delay pharmacy school, it's smarter to compare actual income.

The recent age poll indicates that there are plenty of older pharmacy students. We're also discussing people who have been accepted but declined due to economic reasons. So you think they're just going to go back to having a net income of zero? I disagree.

 

[confettiflyer]

The recent age poll indicates that there are plenty of older pharmacy students. We're also discussing people who have been accepted but declined due to economic reasons. So you think they're just going to go back to having a net income of zero? I disagree.

Right, but it's often a short-sighted decision. There are legitimate instances where an older student with a family might have to make arrangements, get a spouse up and running when it comes to work, or something else. For the most part, these are single/young students who simply feel they should have more money in the bank and that borrowing enough to cover $30k tuition + expenses and room and board is a daunting task.

It really isn't. Even if you're really good at saving and save $10k (assuming you're working as a pharm tech somewhere and are taking classes)...that's nothing compared to $30k tuition per year + $45k in your 4th year + room and board. Essentially, you took a year off to cover your relocation expenses and mmmaybe a few months worth of rent and in the end, you just delayed your graduating from rx school for a whole year.

Coupled with the new PSLF + IBR loan repayment programs on the back end of these student loans, there's now a disincentive to watch how much you borrow because repayment is now income contingent and capped at 10 years (assuming you go work for a 501(c)(3) hospital or other gov't entity) with the remainder forgiven.

 

[PonderingChoice]

I'm not saying it's smart, it's just not 120K in lost salary. Anyhow, further calculations really depend on what you're doing - but if you have an advanced degree and use it, even part time, then you could easily save much more than 10K.