Anybody's parents paying for med school?

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Filling out this FASFA made me ponder if anyone is still getting a free ride from old mama and poppa. I'm thinking about taking out an interest free loan from my parents (with paperwork and everything, my father is very professional) for a portion of med school costs and then paying them back later. But has anybody's parents offered them a full ride?
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most of the pre-meds i know are going to have their parents pay for med school; hell, for most of them, their parents are the only reason they are pre-med to begin with :laugh:
 
I know this many people with a free ride from their parents: 0.
 
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james1988 said:
most of the pre-meds i know are going to have their parents pay for med school; hell, for most of them, their parents are the only reason they are pre-med to begin with :laugh:
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where did you go to school..? the Little Lord Fauntleroy's School for Albino Hemophiliacs? (old Loveline joke)

edit: for those who have no idea what i'm talking about.. these are little lord fauntleroys..
image002.jpg
 
I know some kid whose parents have "allegedly" saved 100k for him to go to medical school. Methinks they've probably been saving it from the day he was born. O_O
 
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I doubt there are many pre-meds, if at all, that will be getting a free ride because of their parents.
 
I asked my parents for money for college, seeing as how they've got a couple million in real estate assets and all. The response? "If we were going to liquidate one of our properties, I would use it to get surgery. Sorry, ask your grandparents". Yeah my mom is uninsured and needs a 50k dollar surgery that she won't even pay for.

That was before the real estate crisis in California, at this point I wouldn't even have asked.
 
We grew up with our parents promising to pay for college and two rules about career choices - forget thinking about making a living in performing arts. Do it for fun and the experience, but don't expect to make a living off of it.

Don't even dream of med school. We can't afford it.

So, they gave in & said that med school is okay if that's what we really want, just realize that the expense will be our own responsibility.

So far they've gotten two of my siblings through their Masters. Now they have 4 of us in college and two left to go. I'm just very glad they've been able to help us get this far. I wouldn't expect any more help.
 
My folks paid for everything, I don't owe jack.
 
taponthecloud said:
where did you go to school..? the Little Lord Fauntleroy's School for Albino Hemophiliacs? (old Loveline joke)

edit: for those who have no idea what i'm talking about.. these are little lord fauntleroys..
image002.jpg
Click to expand...

hahahaha
just about
 
My parents are paying for everything. Then again, I'm looking at about 15-20k per year in money needed for med school.
 
SStorm said:
My parents are paying for everything. Then again, I'm looking at about 15-20k per year in money needed for med school.
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My parents couldn't pay for my medical education even if it cost $150-$250 a year.
 
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paradocs we are said:
I doubt there are many pre-meds, if at all, that will be getting a free ride because of their parents.
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Oh, believe it. There are at least a few people who show up to drop off a check at the bursar's office while the rest of us pick up our financial aid.
 
zero help from parents, but I am hoping for generous need-based grants (which so far have been decent).
 
i'm sort of getting help from my parents - i have to take out loans to pay for my school because they don't have that kind of money upfront, but with the understanding that i'll be able to pay them off with my eventual "inheritance" - if there's anything left after their retirement.
 
I would honestly be embarrassed to have my parents pay, even if they had the means. Much more satisfying to know you did it on your own.
 
my parents have always offered to pay while i was growing up/going to college, but i'm getting married soon and realize it's just ridiculous to ask them to shell out that kinda cash when i'm the one who will financially benefit from it
 
I wish! My parents said "Love you, have a nice life" at 18. I put myself through undergrad and graduate school!

But part of me has this deep, dark, secret dream that my grandfather will drop a check off at the FinAid office the day I graduate from medical school. Apparently, someone's grandmother did this at Case Western.

Ah, well. One can dream.
 
I'm getting pretty much a free ride from parents. I'm asian though, and I have a feeling a lot of asian families pay for it for their kids.
 
My parents most probably will, but I want to find a way pay at least part of it myself. :) It'll feel good that way and I won't be stressing my parents financially too much.
 
No reason why my parents should pay for my medical education; I lived off their money for long enough as a child. They deserve to enjoy what they have and I deserve the honor of providing for myself.
 
With my family it's pretty much an unspoken understanding that my parents will provide for me until I can make the big bux, then I am expected to take care of my parents as they have for me (i.e. buy them a vacation home, have them move in with me, hire servants/caretakers for them, send them 20-30% of my monthly income etc.)
 
EpiPEN said:
With my family it's pretty much an unspoken understanding that my parents will provide for me until I can make the big bux, then I am expected to take care of my parents as they have for me (i.e. buy them a vacation home, have them move in with me, hire servants/caretakers for them, send them 20-30% of my monthly income etc.)
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This was a joke, right?
 
I know for a fact that after sophomore year, my parents told me I had to start taking out loans in order to pay for the rest of my college tuition in my junior and senior years. Thus, asking them for help to pay for medical school when they have three more kids after me was definitely out of the question. It also doesn't help that my family is Filipino. I am on my own in paying for my education.
 
Well, my parent's are currently paying some of my undergrad tuition and they also paid for my two year hiatus. I doubt they'll pay for med school, especially since they don't even know I'm pre-med! I'll probably have to take out loans.
 
moe_4eva said:
I would honestly be embarrassed to have my parents pay, even if they had the means. Much more satisfying to know you did it on your own.
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Personally, I would try to minimize my debt burden and care more about my future financial situation rather than worry about being "embarassed" about the means in which I do this. (hypothetically speaking)
 
My parents make 50,000 a year, support 4 kids, live paycheck to paycheck and owe the IRS 30,000. :scared:

I think they would like to pay but unless hell freezes over they just can't. But you gotta love em' for trying!
 
:( I'm hoping I have some wealthy long lost uncle out there.
 
TexanGirl said:
I know some kid whose parents have "allegedly" saved 100k for him to go to medical school. Methinks they've probably been saving it from the day he was born. O_O
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Nah, 100K is nothing, it just depends on your perspective. In the last 4-6 years I've saved 20K just working on/off part-time. I think parents paying for medical school happens more often then you'd think. You know, it's really the students right in the middle that get hurt the worst. If your parents make enough money to pay for your schooling then they're probably going to help you out a lot and you won't get any grant/scholarship money. If your parents are very poor you'll probably get a lot, up to and including a full scholarship. But if your parents make just enough to exclude you from aid, and not enough to actually help you out.... Well I guess there's always high-paying specialties >).

I know of cases where parents help out by buying a house in the area. That way they're making an investment in the property while the student gets to chop housing expenses off their bill. The parents can rent other rooms, or even rent the whole house once the student is gone, or of course just sell it. It's a long-term win-win proposition if parents can afford it.
 
My parents and I had a deal from like 2nd grade:

Get good grades and stay in school, you won't worry about your educational or living expenses until your completely done, and you won't have to pay us a penny back.

Its funny, I spent my entire life under the impression that I would graduate from med school debt free. Needless to say, the deal has fallen through ever since my dad lost his job this academic year. I got a full scholarship in time to cover my Masters degree, but I doubt that will be happening for med school.

Bring on them loans!!!!
 
Mom helped me get through undergraduate debt free. Med school? "I'll help you with the loan paperwork."
 
kypdurron5 said:
Nah, 100K is nothing, it just depends on your perspective. In the last 4-6 years I've saved 20K just working on/off part-time. I think parents paying for medical school happens more often then you'd think. You know, it's really the students right in the middle that get hurt the worst. If your parents make enough money to pay for your schooling then they're probably going to help you out a lot and you won't get any grant/scholarship money. If your parents are very poor you'll probably get a lot, up to and including a full scholarship. But if your parents make just enough to exclude you from aid, and not enough to actually help you out.... Well I guess there's always high-paying specialties >).

I know of cases where parents help out by buying a house in the area. That way they're making an investment in the property while the student gets to chop housing expenses off their bill. The parents can rent other rooms, or even rent the whole house once the student is gone, or of course just sell it. It's a long-term win-win proposition if parents can afford it.
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:thumbup: middle class always gets screwed
 
acurax said:
My parents will be loaning me the money for med school, and I'll pay them back when I am done.

I think they're doing it because that's what my father's parents did for him during med school.
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So....it's more out of tradition than because you're their son and they love you and you need help? ;)
 
moe_4eva said:
I would honestly be embarrassed to have my parents pay, even if they had the means. Much more satisfying to know you did it on your own.
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coldweatherblue said:
No reason why my parents should pay for my medical education; I lived off their money for long enough as a child. They deserve to enjoy what they have and I deserve the honor of providing for myself.
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Why do some of you think you're "honorable" for paying your way through med school, or it's embarrassing to have parents pay for it? I'm sorry my parents have decided to pay, but that isn't going to make med school or residency any easier, i'll just have more money, (and they can afford it)

i'll pay for my kid's grad school if they want, as long as it isn't something useless. Heck, even if it's art i'll still pay if they show me it's worthwhile.


Change of topic though. How do med schools hand out financial aid packages? Is it based on parental income ( I wouldn't assume so because your 22). Although if not that then what? We're all broke people who won't have a job while in med school, how do they decide who gets money? Sorry for my ignorance on this topic.
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metalgearHMN said:

but that isn't going to make med school or residency any easier, i'll just have more money
​
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I'm not going to address the rest of your post, but this notion specifically. Having no money woes certainly can and probably will make med school and residency easier.​
 
metalgearHMN said:
Change of topic though. How do med schools hand out financial aid packages? Is it based on parental income ( I wouldn't assume so because your 22). Although if not that then what? We're all broke people who won't have a job while in med school, how do they decide who gets money? Sorry for my ignorance on this topic.
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You're separate for federal purposes, but almost all institutions require parent info to be considered for grant/scholarship money (or at the very least certain grants/scholarships). Thus, for this money it makes all the difference in the world.
 
My parents make WAY too much money for me to be considered for any financial aid. Of course, they're way over their heads in credit card debt because they are terrible with money, so there's no way in hell they can help me. Soon I will be another family member with a gigantic sad red number glaring at me. I hope that physician salaries won't end up so low that I can't afford to pay back my loans... I bet that I'll be getting nothing but "we hate you because your parents make lots of money" high-interest loans. Of course, I am still waiting for my family to give me this year's taxes... :(

Yeah. I hope that I'll be able to find a nice cardboard box to live in during my residency.
 
rogerwilco said:
I'm not going to address the rest of your post, but this notion specifically. Having no money woes certainly can and probably will make med school and residency easier.
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So it will be easier for me to study, i'll have easier tests, and boards will be a breeze, along with clinicals and residency hours?

I understand that it may lead to less stress, but i'm sure there will be 100 other things to worry about,

it will ensure, however, that I can do a specialty I truly enjoy.
 
ha. i cant even get them to pay for my deposit.lol
 
Good post ColdWeatherBlue. I lived off my parents till the age of 25.. (many years past the stereotypical age of 18, when some kids are on their own)

I agree with everything you said, except I view funding my own med school different than "honor" its more out of "dire necessity!" :) but I am sure when all loans are repaid back, I will feel a sense of pride for being able to successfully complete the "craziest/scariest financial years" of my life...

As far as parents who pay -- if they can, and it doesn't stretch their budget, go for it. Although I wouldn't condone any second mortgages occurring, or IRA money straight to a child's tuition. But if the 'rents make gazillions.. eh, why not. None of my business.

In a perfect world, if I was a wealthy doctor-mother, and my child was accepted to medical school, I would try to pay the tuition up front. And I would require my child paid it back to me (with stipulation his agreement to repay is in legal writing).

Good idea for 2 reaons: 1. I'd offer a lower interest rate, 2. Me getting the money (which would probably just be turned around and spent on my grand kids) would eliminate paying interest to those lender companies. Not giving a lender a cent would be ok with me!

If my stipulations made my kid fuss..... I'd then do what another parent of an SDNer offered... to help fill out the loan forms :D

coldweatherblue said:
No reason why my parents should pay for my medical education; I lived off their money for long enough as a child. They deserve to enjoy what they have and I deserve the honor of providing for myself.
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My parents are paying for all of it. I had a discussion with my dad about it, saying what they were doing was too generous, they've done more than enough for me already, etc. He explained that they can easily afford it, and that it is money I would eventually inherit anyway. He will still be able to retire at the same age and live as comfortably as if they hadn't paid it. Furthermore, financially it makes no sense to take out loans and pay the tuition with interest when it can easily be paid interest-free.

I am well aware that I am extremely lucky, and in a very rare position, to be reaping major benefits from my parents and grandparents hard work. Someone mentioned that this won't make med school/residency any easier, but financial problems are a big stressor that I'm sure would contribute to difficulty during this process.

However, I am also disgusted by the notion that I should be embarrassed that my parents are paying for my medical education. It seems to be a common perception that individuals with wealthy parents are by default lazy and have never worked a day in their life (although certainly true in some cases). I have held a steady job (full time in summer, part time during school) since sophomore year of high school. Nothing outstanding I know, but I also know that I that I work more hours and put more effort into school than several friends who complain about having poor parents and having to take out loans. Don't dismiss someone's work ethic or competence because they were dealt a great hand.

Oh, and whoever said that they wouldn't let their parents pay if they could afford it is either full of **** or seriously lacking in common sense. Luckily my momma didn't raise no fool.
 
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