BU versus University of Utah

[Serious Student]

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Debt:

~$180,000 UUSOM
~$280,000 BUSOM

Love both schools. One thing that worries me about UUSOM is that the new curriculum is being rolled out this year. That said, I think they are going to do a great job. On the other I hand I really like the clinical training at BU, but I have to wonder if it would be substantially different from any other LCME accredited program, ie UUSOM. I have been living in Utah most of my life. Boston offers incredible diversity, which is a plus. Any thoughts?

 

[hemingway]

Interest compounds while you're in med school, so that 280k is probably going to be closer to 360k by the time you graduate.

 

[veaselhaufen]

Utah. You'd have to go bezerk on many a vulnerable women to pay back those kinda loans

 

[RoadRunner17]

Interest compounds while you're in med school, so that 280k is probably going to be closer to 360k by the time you graduate.

This is wrong. Interest does not compound, even though it does accrue, while you're in med school. Therefore, the OP is looking at around $290-300k in debt after graduation and in the $360-390k in debt after residency (depending on how long it is) if he goes to BU. It's up to OP to decide if its worth it, but I say it wouldn't be close to being worth it for me.

 

[drizzt3117]

I think it'd really be a decision based on location, as far as I'm concerned.

 

[hemingway]

This is wrong. Interest does not compound, even though it does accrue, while you're in med school. Therefore, the OP is looking at around $290-300k in debt after graduation and in the $360-390k in debt after residency (depending on how long it is) if he goes to BU. It's up to OP to decide if its worth it, but I say it wouldn't be close to being worth it for me.

What I meant by compounds is that it capitalizes every year. It will be significantly more than 300k by the end of 4 years if he takes half out in direct loans (6.8%), and then the other half in Plus (7.9%).

 

[JJMrK]

Utah.

$.

 

[Transmogrifier]

For me, $100,000 answers the question before it's even asked! Plus you get wonderful mountains! I'm sad to be leaving the Wasatch front for the flatness of Ohio this fall.

 

[Mattabet]

On a scale of 1 to 5, rate how closely the following statements apply to you:

1) I find that Mormons tend to be very attractive.
Strongly disagree 1 2 3 4 5 Strongly Agree

2) I find that caffeine is extremely attractive.
Strongly disagree 5 4 3 2 1 Strongly Agree

Now just add up your score (note reverse scoring for item 2). 6 or higher and it's Utah for you my friend!

 

[drizzt3117]

Utah is cool for visiting but I would never live there, therefore BU it would be for me. If that isn't true for you, then consider Utah.

 

[AnotherDork]

If you go to BU, then I will be your senior resident in a few years. And I am wicked awesome, so you should totally go to BU. 😀

 

[fatty19]

My biased opinion is Utah. The beer is a watery 3.2% though 🙁.

 

[NonTradMed]

Unless you have some aversion to Utah, I'd recommend that over BU because of cost. You can always move to Boston for residency. Also, keep in mind that med school will probably keep you pretty busy so you won't have much time to go out until 4th year when you can probably do some away rotations and leave Utah.

Maybe right now the extra $100k doesn't seem like much, but it will feel quite burdensome when you have other obligations like mortgage and family to support.

Of course, money should not be the only concern but unless you see glaring inferiority of education in Utah over BU, take the cheaper option.

 

[byurazorhog]

I second the opinion above. Save money for later. If you'd said you'd never lived in Utah then I would maybe ask you to consider the lifestyles between Boston and Salt Lake. But you've been living there so what's the loss?

 

[RoadRunner17]

What I meant by compounds is that it capitalizes every year. It will be significantly more than 300k by the end of 4 years if he takes half out in direct loans (6.8%), and then the other half in Plus (7.9%).

Interest accrues on the unsubsidized Stafford loans, but it doesn't capitalize until repayment. I think this is also the case for the GradPLUS loans. This doesn't change the message much in that BU means a lot more debt. OP has to figure out for himself if leaving Utah for Boston is worth the extra money.

 

[Serious Student]

Thank you for your thoughts. My debt calculations include both a small amount of undergrad debt and interest accrued during medical school.

It is hard for me to post of all my considerations since statements can be misconstrued. Suffice it to say that while I am used to the culture here in Utah, I am worried about spending my entire life here. Utah is a bit sheltered from the outside world, which is both good and bad.

I think it'd really be a decision based on location, as far as I'm concerned.

OP has to figure out for himself if leaving Utah for Boston is worth the extra money.

These two statements go to the heart of the problem for me. Cheap tuition and more comfort, versus new location and new horizons.

Thanks again everyone!

 

[veaselhaufen]

Thank you for your thoughts. My debt calculations include both a small amount of undergrad debt and interest accrued during medical school.

It is hard for me to post of all my considerations since statements can be misconstrued. Suffice it to say that while I am used to the culture here in Utah, I am worried about spending my entire life here. Utah is a bit sheltered from the outside world, which is both good and bad.





These two statements go to the heart of the problem for me. Extra money and loss of comfort, versus new location and new horizons.

Thanks again everyone!

280,000 dollars will cause SEVERE financial strain. It's just not practical. If you choose peds or something you might not ever be able to get out from under that debt.

 

[BTC]

Thank you for your thoughts. My debt calculations include both a small amount of undergrad debt and interest accrued during medical school.

It is hard for me to post of all my considerations since statements can be misconstrued. Suffice it to say that while I am used to the culture here in Utah, I am worried about spending my entire life here. Utah is a bit sheltered from the outside world, which is both good and bad.





These two statements go to the heart of the problem for me. Extra money and loss of comfort, versus new location and new horizons.

Thanks again everyone!

While money is always going to be a factor. Ask yourself the question, 'How will I be growing?' I don't pretend to know the answer of that question but I am not sure you can put a price tag on it.

 

[fatty19]

Thank you for your thoughts. My debt calculations include both a small amount of undergrad debt and interest accrued during medical school.

It is hard for me to post of all my considerations since statements can be misconstrued. Suffice it to say that while I am used to the culture here in Utah, I am worried about spending my entire life here. Utah is a bit sheltered from the outside world, which is both good and bad.

Being from Utah, I understand this completely. I've been trying to get out of this state for several years. Don't get me wrong, I love the mountains, skiing, and many other things about this state but the I feel the culture isn't the best fit for me. Is it worth $100k?? I don't know...

 

[NonTradMed]

I wanted to add one more reason to choose the cheaper option. While in med school, your choice of speciality will change multiple times. The more debt you end up with, the more constrained you are in your choice of specialty. You may feel obligated to pick a higher paying speciality for financial reasons, even if you don't enjoy it.

That is to say, both BU and Utah will get you to where you want to go, but the cheaper option will allow you the choice of any specialty of your choice, and the only constraints will be your grades, not your debt.