Affording application costs?

[Soviet Poland]

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Common thread I know, but I wanted a more specific answer. So I want to retake my MCAT, but I want to do it right. Last time I worked full time while preparing and scored a 23. I know I can do better. The rest of my app is solid. I currently work full time as an ED scribe. Great experience. Barely above minimum wage.

I'm pretty sure I qualify for FAP so I'll be applying for that. I'll also only apply to local schools I can drive to. My issue is the MCAT: I still need to work at minimum 2 shifts per week as a scribe to keep my job. So I plan to do the 4 month MCAT schedule. Problem is, I can't afford to work part time for the next 4 months.

I calculated it, and bare minimum budget I'd need about 3k in hand to cover my bills/rent/food while I study. Do I apply for a personal loan or do I use credit cards?I really don't like using credit cards, but my card has a 2k limit. I can always open a second with 0% APR for a year, and hope I get in next year. Having no interest rate, I can juggle that 3k for the time being, and then once I finish my exam go back to working full time during the upcoming cycle. Option B is taking out the personal loan. I graduated undergrad with less than 10k in student loans. I'm not too against the personal loan route, but I doubt I'd qualify with the income I make as a scribe. I have a great credit score, but it's really thin credit.

Also, I'm an independent. I can't really count on help from my mother. My father died years ago, so she's single income.

I do live with my fiancee. Having her helps cut my bills in half since we split and live bare minimum for now.

Either way, what's the best route in this situation?

 

[xffan624]

Common thread I know, but I wanted a more specific answer. So I want to retake my MCAT, but I want to do it right. Last time I worked full time while preparing and scored a 23. I know I can do better. The rest of my app is solid. I currently work full time as an ED scribe. Great experience. Barely above minimum wage.

I'm pretty sure I qualify for FAP so I'll be applying for that. I'll also only apply to local schools I can drive to. My issue is the MCAT: I still need to work at minimum 2 shifts per week as a scribe to keep my job. So I plan to do the 4 month MCAT schedule. Problem is, I can't afford to work part time for the next 4 months.

I calculated it, and bare minimum budget I'd need about 3k in hand to cover my bills/rent/food while I study. Do I apply for a personal loan or do I use credit cards?I really don't like using credit cards, but my card has a 2k limit. I can always open a second with 0% APR for a year, and hope I get in next year. Having no interest rate, I can juggle that 3k for the time being, and then once I finish my exam go back to working full time during the upcoming cycle. Option B is taking out the personal loan. I graduated undergrad with less than 10k in student loans. I'm not too against the personal loan route, but I doubt I'd qualify with the income I make as a scribe. I have a great credit score, but it's really thin credit.

Also, I'm an independent. I can't really count on help from my mother. My father died years ago, so she's single income.

I do live with my fiancee. Having her helps cut my bills in half since we split and live bare minimum for now.

Either way, what's the best route in this situation?

If you can't get a decent score while working full time, the problem is in your preparation and study, not your job. I say this as someone who got a good score while working full time (and sometimes beyond that), didn't take a prep course, and whose last prereq class before taking the MCAT was over 6 years before. But yeah, if you have to reduce your schedule to to do it, then probably a zero interest credit card is your best bet. Try to pay it off after the MCAT when you return to full-time work. Yes, you can apply while working full time. Time management is important for medical school and it's probably something you should learn sooner rather than later.

 

[crimsonkid85]

I tutored while working and studying for the MCAT. I charge $120/hr. If you need 3K that's 25 hours of tutoring = about 3-4 hours tutoring on Saturdays and Sundays each/ month.

Don't forget to charge cash only!

Good luck~

Either way, what's the best route in this situation?

 

[Soviet Poland]

If you can't get a decent score while working full time, the problem is in your preparation and study, not your job. I say this as someone who got a good score while working full time (and sometimes beyond that), didn't take a prep course, and whose last prereq class before taking the MCAT was over 6 years before. But yeah, if you have to reduce your schedule to to do it, then probably a zero interest credit card is your best bet. Try to pay it off after the MCAT when you return to full-time work. Yes, you can apply while working full time. Time management is important for medical school and it's probably something you should learn sooner rather than later.

I'm sorry it just seems counter intuitive to me considering that I don't get extra points for spreading myself needlessly thin. I'm competing against a national applicant pool who primarily studies for the MCAT with no other commitments. Just because I can get by with a "decent score" while working full time doesn't mean I shouldn't try and get the highest score possible. And you'd be hard pressed to say you wouldn't have done a single point better if you had your schedule completely opened up for the MCAT.

Thank you for the input regarding the credit card.

I tutored while working and studying for the MCAT. I charge $120/hr. If you need 3K that's 25 hours of tutoring = about 3-4 hours tutoring on Saturdays and Sundays each/ month.

Don't forget to charge cash only!

Good luck~

Where did you find clientele for that price? I take it you offered private tutoring yourself, as opposed through a company. I would love to do this. Trying to contemplate how I'd market myself from scratch.

 

[crimsonkid85]

Where did you find clientele for that price? I take it you offered private tutoring yourself, as opposed through a company. I would love to do this. Trying to contemplate how I'd market myself from scratch.

I went to a college that attracts stupid, overly confident summer students with lesser pedigrees but rich daddies. I already TF'ed many classes at my institution, and so also taught for the summer school. As for clientele, I had so many I tutored until 1am everyday. My prices started at $50/hr, but then as my demand grew, my prices went up, until for my last students I was charging $170/hr. My $120 quote was my integrated average over that summer. I made $15K from tutoring alone in ~10ish weeks lol.

 

[Entadus]

I went to a college that attracts stupid, overly confident summer students with lesser pedigrees but rich daddies. I already TF'ed many classes at my institution, and so also taught for the summer school. As for clientele, I had so many I tutored until 1am everyday. My prices started at $50/hr, but then as my demand grew, my prices went up, until for my last students I was charging $170/hr. My $120 quote was my integrated average over that summer. I made $15K from tutoring alone in ~10ish weeks lol.

Lolwut? 170 an hour? That's not even possible let alone ethical...

I call bull****.

 

[chillaxbro]

Lolwut? 170 an hour? That's not even possible let alone ethical...

I call bullcrap.

Just wait until you're a doctor!

 

[Entadus]

Just wait until you're a doctor!

Oh I'll be happy to collect that if/when I become a world-renowned spinal surgeon. Not a summer tutor in undergrad courses LOL

I'm also a tutor and there's no way in hell I would consider even TRYING to charge that much. I would feel like I'm robbing the poor kids

 

[crimsonkid85]

Lolwut? 170 an hour? That's not even possible let alone ethical...

I call bullcrap.

Well I'm sorry if you've never had the opportunity to make $170/hr. These days I don't touch a tutoring job unless it's 150/hr.

My friends in NYC routinely make more than 200/hr tutoring the kids on the UES. One even travels with the family.

As for feeling bad, eh. Money always moves from stupid to smart. I'm not forcing them to part with their money.

 

[Entadus]

I read your post aloud

My girlfriend says "that guy's a jerk"

 

[solitarius]

Crap advice (humblebrags?) on this thread all around. I'm going to PM OP with some good info.

It's a good thing OP has an understanding SO.

 

[blixxex]

Common thread I know, but I wanted a more specific answer. So I want to retake my MCAT, but I want to do it right. Last time I worked full time while preparing and scored a 23. I know I can do better. The rest of my app is solid. I currently work full time as an ED scribe. Great experience. Barely above minimum wage.

I'm pretty sure I qualify for FAP so I'll be applying for that. I'll also only apply to local schools I can drive to. My issue is the MCAT: I still need to work at minimum 2 shifts per week as a scribe to keep my job. So I plan to do the 4 month MCAT schedule. Problem is, I can't afford to work part time for the next 4 months.

I calculated it, and bare minimum budget I'd need about 3k in hand to cover my bills/rent/food while I study. Do I apply for a personal loan or do I use credit cards?I really don't like using credit cards, but my card has a 2k limit. I can always open a second with 0% APR for a year, and hope I get in next year. Having no interest rate, I can juggle that 3k for the time being, and then once I finish my exam go back to working full time during the upcoming cycle. Option B is taking out the personal loan. I graduated undergrad with less than 10k in student loans. I'm not too against the personal loan route, but I doubt I'd qualify with the income I make as a scribe. I have a great credit score, but it's really thin credit.

Also, I'm an independent. I can't really count on help from my mother. My father died years ago, so she's single income.

I do live with my fiancee. Having her helps cut my bills in half since we split and live bare minimum for now.

Either way, what's the best route in this situation?

3k/month for rent/bills/food or 3k for 4 month? are you paying tuition or loans? I can't imagine spending that much on expenses (~800/month). My utility 100, car insurance 65 ish, food 200 ish, gas/etc spending 200 ish, tide 200.

FAP helps cover MCAT AND Med School Application. I didn't even qualify for it and I made less than 3k/month. I think you need to make less than 33 or 34k/year to qualify.

EDIT: Did not read your post entirely. If you are filing a joined tax last year and she does not make very much - you will qualify for FAP... get FAP before applying.

 

[xffan624]

I'm sorry it just seems counter intuitive to me considering that I don't get extra points for spreading myself needlessly thin. I'm competing against a national applicant pool who primarily studies for the MCAT with no other commitments. Just because I can get by with a "decent score" while working full time doesn't mean I shouldn't try and get the highest score possible. And you'd be hard pressed to say you wouldn't have done a single point better if you had your schedule completely opened up for the MCAT.

Thank you for the input regarding the credit card.

.

I have actually done both. Taken it while working full time and taken it with an entire summer free to study. I did better while working full time. The job obviously didn't get me a higher score, it was my improved study methods and longer study time that got me a higher score. Could I have gotten even higher with a free schedule? Perhaps, but it wasn't an option as I in the military and you can't just quit that job on a whim.

 

[Soviet Poland]

3k/month for rent/bills/food or 3k for 4 month? are you paying tuition or loans? I can't imagine spending that much on expenses (~800/month). My utility 100, car insurance 65 ish, food 200 ish, gas/etc spending 200 ish, tide 200.

FAP helps cover MCAT AND Med School Application. I didn't even qualify for it and I made less than 3k/month. I think you need to make less than 33 or 34k/year to qualify.

EDIT: Did not read your post entirely. If you are filing a joined tax last year and she does not make very much - you will qualify for FAP... get FAP before applying.

It's 3k for the 4 month period, so more like 750 a month. FAP factors in parent's income and your own. My fiancee and I aren't getting married until after medical school so she isn't factored into it. I'm pretty positive I'll qualify assuming they haven't run out of funding yet for this year.