- Joined
- Apr 17, 2005
- Messages
- 1,465
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After two years of being a pre-med, I think I've got the routine down. I know all about how to study for the MCAT, I know the details of AMCAS and AACOMAS, and I've even learned a lot of the "unwritten" rules. Now that I've been accepted, I'm very-very happy (ecstatic, actually) but the truth is sinking in: I have to pay for this. I'm going to be unemployed. And all of my previous knowledge about how to be an applicant is now useless for me - it's a new ballgame.
I'm amused by people in the pre-med forums who post general questions that have been asked a thousand times before. But- I've looked and looked - at old threads, at the financial aid website resources, and I just can't pull everything together that I'm seeing. What amazes me is that I'm a CPA and I can't understand all this stuff. Please take pity on me - I give up! I give up!
I'm an older non-traditional applicant. I'm starting medical school in August. Although my medical school has a campus in the city where I live, they don't offer 1st and 2nd year classes. I have to commute to a city 100 miles away for the first two years. I've lived in the same house for many years and I'd like to keep it, since I'll be coming back. I'm going to get a cheap place in the distant city and come home on the weekends.
I can't support my house on the standard student budget. I don't know yet if my school is willing to adjust budgets or not. To me, it's worth it to take on a little extra debt to keep the homestead - especially since I got a nice first-year scholarship. I just don't understand how private loans work, though. Most limit borrowing to the "cost of attendance." What if my budget isn't adjusted and I need to borrow more? I saw that a couple of lenders don't require school documentation - does that mean I can borrow more from them to get up to the limit since I have a scholarship? Is that legit? What are the other options? I have a little cash put away and I can probably get an equity credit line on my house - but it seems silly to make equity loan payments with borrowed money - it seems to make more sense to use payment-deferred money as much as possible.
I know I need to keep my debt down especially since I'm older. But, going to a state school (in a very inexpensive state), it seems reasonable to keep the house. Or is it? Anyway, if anyone can explain what my options are for "private" money over the Cost of Attendance, I would be very grateful.
I'm amused by people in the pre-med forums who post general questions that have been asked a thousand times before. But- I've looked and looked - at old threads, at the financial aid website resources, and I just can't pull everything together that I'm seeing. What amazes me is that I'm a CPA and I can't understand all this stuff. Please take pity on me - I give up! I give up!
I'm an older non-traditional applicant. I'm starting medical school in August. Although my medical school has a campus in the city where I live, they don't offer 1st and 2nd year classes. I have to commute to a city 100 miles away for the first two years. I've lived in the same house for many years and I'd like to keep it, since I'll be coming back. I'm going to get a cheap place in the distant city and come home on the weekends.
I can't support my house on the standard student budget. I don't know yet if my school is willing to adjust budgets or not. To me, it's worth it to take on a little extra debt to keep the homestead - especially since I got a nice first-year scholarship. I just don't understand how private loans work, though. Most limit borrowing to the "cost of attendance." What if my budget isn't adjusted and I need to borrow more? I saw that a couple of lenders don't require school documentation - does that mean I can borrow more from them to get up to the limit since I have a scholarship? Is that legit? What are the other options? I have a little cash put away and I can probably get an equity credit line on my house - but it seems silly to make equity loan payments with borrowed money - it seems to make more sense to use payment-deferred money as much as possible.
I know I need to keep my debt down especially since I'm older. But, going to a state school (in a very inexpensive state), it seems reasonable to keep the house. Or is it? Anyway, if anyone can explain what my options are for "private" money over the Cost of Attendance, I would be very grateful.
