Budget in medical school

[Code Brown]

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Apart from the money medical schools lend you for tuition (through the various channels), how much will they lend you to live on while in medical school. If any of you could offer some insight, that would be great. Please include the school you attend and whether or not you get subsidized student housing at that school and if you have a significant other or kids. Thanks.

 

[efex101]

Married with two kids going to school at Mayo..off the top of my head the loans will cover about 1,300 per month to live off including car, food, rent, etc..so depending on where you live this is not too bad. Mayo students finish medical school with the least amount of debt due to generous scholarships. Most students are on full rides and the ones that are not pay about 12,000 per year I think...less than most state schools.

 

[John Deere Gree]

my school ~$1,500/month.

 

[Code Brown]

my school ~$1,500/month.

Which school?

 

[John Deere Gree]

the school you won't be applying to...

 

[lattimer13]

take out as much as you can in loans...then what you have left over at the end of the year invest in halliburton. 👎

i won't go any farther with that...

 

[BDavis]

Apart from the money medical schools lend you for tuition (through the various channels), how much will they lend you to live on while in medical school. If any of you could offer some insight, that would be great. Please include the school you attend and whether or not you get subsidized student housing at that school and if you have a significant other or kids. Thanks.

I budgeted about $1400 total for car (~$100-150/month), rent ($500-600/month), and food when I was single. No subsidized housing, no kids. I have very crappy car so insurance is cheaper, but it is offset by repairs. I am at Baylor College of Medicine in Houston,TX.

 

[hypersting]

Apart from the money medical schools lend you for tuition (through the various channels), how much will they lend you to live on while in medical school. If any of you could offer some insight, that would be great. Please include the school you attend and whether or not you get subsidized student housing at that school and if you have a significant other or kids. Thanks.

They will pretty much give you as much money as you need. After tuition typical budgets run from 1300 - 1700/mo (depending on surrounding area) + 150/ mo for insurance and 2000/ yr for books. These are, of course, ballpark figures. Provided your credit rating is decent (above 650), you should get any money you need. Banks know you are a good investment and they are willing to help out a future MD now to get their business later on. Hope this helps.

To sum up, figure roughly ~20,000 in addition to tuition per year plus more if you really need it.