Anyone else discouraged by the major debt you'll be in.

[T-bruin]

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Right now, I plan on going to USC next year. It's 55K a year! The money issue hasn't ever really bothered me before because I just wanted to be a doctor and money never really factored into my decision. Now that I realize I'll be 220K in the hole, it's a bit daunting. Have any of you ever reconsidered the medicine route because of this grave financial burden?

 

[Lebesgue]

I haven't reconsidered it, simply because you'll pay off your loans eventually and you only get one lifetime to do what you want to do...

But, I am choosing my state school with the real possibility of leaving with no loans at all (very exciting), as opposed to going to a school with much better facilities and perhaps slightly better opportunities for a $170K sticker price. BUT, if I get the opportunity to get off a top 5 waitlist I'm on, it might complicate things... 🙂

Also think about what you would pay if you hadn't had any acceptances this year. Would you have the same attitude? You should feel good! You got into a great school, and what would you do if you don't go into medicine? Just go.

🙂

 

[Mike59]

Anyone who says "money shouldn't come between you and your private school" is naive.

I had trouble deciding between two great schools (one private, one state), a difference of $30k/yr in the tuition alone. An excel spreadsheet really put things in perspective when I looked at how I would go about paying back a loan of $200 000.

If you have no choice, that's understandable, but if you have to choose between a state and expensive private, sit down and calculate how much interest your loan will compound during school and residency. Then factor in how much it will cost to travel to residency interviews (which could easily approach $10k, another loan possibly?). As someone who wants to go into primary care, I realized how insane it would be to owe $200k- Yes, I'd pay it all back, but I would be well into my forties by that time. During residency, the monthly payments on a 10 year loan of $200k approach 75%+ of your take home residency salary (NOT FUN!) 🙁

I don't like that feeling of being up to my chin in debt (to the OP, I can see how you feel).

 

[JM.]

Go Army

 

[geldrop]

Dude debt is not a big deal. There are lots of ways to get it waived or you could just move out of the country and never come back. 200k in debt is nothing. Join the military, or do one of those health in rural area deals...

 

[Mike59]

Originally posted by geldrop
Dude debt is not a big deal. There are lots of ways to get it waived..........

Oh yeeeeeeeeeeea!. If you put it that way, it's not a big deal at all. 🙄

 

[tBw]

Originally posted by geldrop
Dude debt is not a big deal. There are lots of ways to get it waived or you could just move out of the country and never come back. 200k in debt is nothing. Join the military, or do one of those health in rural area deals...

lesson in life...do not take financial advice from a man that addresses you as "Dude..."

 

[JlazyMD]

Originally posted by T-bruin
Right now, I plan on going to USC next year. It's 55K a year! The money issue hasn't ever really bothered me before because I just wanted to be a doctor and money never really factored into my decision. Now that I realize I'll be 220K in the hole, it's a bit daunting. Have any of you ever reconsidered the medicine route because of this grave financial burden?

No

 

[MedguyNYC]

Originally posted by tBw
lesson in life...do not take financial advice from a man that addresses you as "Dude..."

tBw, thats a classic. u r funny man

 

[ylan11]

Hey t-bruin
I'm in the exact same boat as you. I'm going to USC next year as well and the thought of all that debt is really weighing on me. I just figure that there have been many people who came before us who faced the same situation and were able to handle it. It's not something I'm looking forward to, but I'm so thankful for being able to stay in CA and go to a great school. We'll pay it off....eventually - and then everything will be cool.