Blessed. Now what?

[Joannavr]

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Some quick background: I am a non trad, late getting into college because of some reasons I have posted about previously. I am just finishing my first full year of credits while working full time and I am transferring to a private university next semester. I have been very nervous about what I was going to do when I transferred as this school is very pricy and I pay my tuition up front. (btw, there are no state schools within an hour drive of me, and I'll be living off campus for private reasons, so this is my only option.)

So to my current situation - I have just been given the unbelievable gift of paid tuition from my grandparents. They have agreed to pay my tuition in full for the university and medical school when I matriculate. Lets say I am floored. I know they're rich of course, but they are also not the most openhanded people. They wont be paying living expenses etc, just flat tuition and books. I am now stuck on deciding whether I should continue working to pay my rent and other bills, or if I should quit and live on loans for living expenses while I take a heavy courseload. I would prefer to get done quickly, because I am already late into this process, but I don't want to do anything foolish like quitting my job in haste if it's the wrong plan. I have been working full time and taking about 11 units per semester, and feel like I could easily kick that up to 18 if I wasn't working.

What would you do in my situation?

 

[177983]

If I were you, I'd definitely go all-in and get it does as soon as possible. The reason being, all else considered, becoming a full attending a year earlier will actually pay more than working and staying out of debt. That's my opinion and what I'm doing. Others will mention that loans are loans, and if something changes in the future, you'll maybe regret taking out the loans. However, I think if you're pretty set on the coarse, getting into med school faster might be worth it.

 

[student1799]

If I were you, I'd definitely go all-in and get it does as soon as possible.

I agree. Furthermore, you should be able to maintain a higher GPA if you're not working, which is really important to your med school admission chances.

 

[inthedark]

I won't tell you what to do, but I'll share my experience. I worked for the first 1/2 of my undergrad to pay for living expenses and the part of my tuition that need-based scholarships didn't cover. Then when I switched to major in bio and the coursework got heavier, I quit my job and took out loans.

Debt is an uncomfortable burden, but I'll never regret my decision. I would never have achieved the honors in research, classwork and departmental comprehensive exams that I did, if I had been splitting my time. Moreover, after quitting, I FELT for the first time that I was a real a student, and it wasn't until then that I fell in love with academics.

 

[Pauligirl]

I would quit the full-time job and take out student loans for living expenses.👍

I'd say you did very well working full-time and taking a full course load! Were you taking science classes w/lab? I personally felt a bit overwhelmed when I was working full-time and taking one science class w/lab and one non-lab class.


Good Luck!🙂

 

[Joannavr]

I have not tried taking a science with lab yet while working but I will be taking at least 2 sciences next semester, probably both with lab. My work schedule has not allowed me to have time for the labs so far 🙁

 

[MedicJ]

I am in a very similar situation. My parents are paying for all of my schooling and none of my living expenses. It is a wonderful opportunity to be able to know school is paid in full.
Where our situation might be a little different is that I have a 9 month old son. My husband is able to pay a large portion of our bills but I am using Stafford loans to cover some of our monthly costs. I do work one day a week....but I do this in order to maintain my Paramedic license. I was a full time medic for 8 years and can't bare the thought of completely leaving it behind.
If you are 110% sure this is what you want to do, I would get loans if needed. When trying to get into med school, it is best to focus on studying as much as possible. Not only do you need to make good grades but you also need to RETAIN as much information as possible because you will be using it. Plus, you need adequate time to study for the MCAT.
When you actually start applying to med schools, it can be a time consuming process.
Even if you do get a loan in order to cover living expenses, you will still owe WAY less than the typical student finishing med school. Loans for living expenses are just a drop in the bucket when you factor in what most people get in loans just to pay tuition each year.
This is obviously just my opinion but I think it is the best way for you to come out ahead. Good Luck!🙂

 

[Joannavr]

I do have a child but she doesn't live with me, she lives with my ex husband. Right now I am pretty independant but I don't believe my current gf wants me to stop working. She doesn't work in the summers and I help her with her bills so me not having an income will impact her greatly. I need her emotional support so I am torn. Will taking out cost of living loans put me in a terrible financial situation? I am not exactly making tons of money now, about 35k a year. How would my standard of living change?

 

[213965]

I do have a child but she doesn't live with me, she lives with my ex husband. Right now I am pretty independant but I don't believe my current gf wants me to stop working. She doesn't work in the summers and I help her with her bills so me not having an income will impact her greatly. I need her emotional support so I am torn. Will taking out cost of living loans put me in a terrible financial situation? I am not exactly making tons of money now, about 35k a year. How would my standard of living change?

For the first time in my life I had to take out loans this year (for my SMP, ~30k) and while at first it was very scary, I absolutely do not regret it and may actually consider taking out more to cover my rent/basic living expenses so I can focus more on school. If medicine is what you really want to pursue, the end will definitely justify the means (in our case, loans) and sure you will pay for it later but not only will you be making enough to pay it off (hopefully) but you would have had a much harder time getting there in the first place had you not taken out those loans. Of course this is coming from someone who hasn't gotten in anywhere yet, and this is my second try, in which case, my loans really would be useless if I can't even find a job after my SMP... 🙁