Cal Northstate c/o 2013

[jyw003]

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money money money...its always about the money...what if you are this position...

You apply to 10+ schools. You have excellent grades and you have great pharmacy experiences. You get 9 rejections and you get one interview invite from CNCP. Would you rather wait until June to reapply to 10+ schools or would you take the interview invite? I would hope you people value TIME more than money. You can always make money you have lost, but you can not make up time you have lost.

 

[bluesickle]

money money money...its always about the money...what if you are this position...

You apply to 10+ schools. You have excellent grades and you have great pharmacy experiences. You get 9 rejections and you get one interview invite from CNCP. Would you rather wait until June to reapply to 10+ schools or would you take the interview invite? I would hope you people value TIME more than money. You can always make money you have lost, but you can not make up time you have lost.

Of course it's about the money. Why, you don't care that you're paying 3-5x more than what others are paying for the EXACT same product? Look, going to school is a business decision and if you think otherwise, you're a fool. It's better to wait a year to get into a reasonably priced school than to pay back those years in ten fold after graduation.

You know what, I'm sick of arguing with people with no financial sense whatsoever. If you're that desperate for a PharmD, by all means, go for it.

 

[jyw003]

Of course it's about the money. Why, you don't care that you're paying 3-5x more than what others are paying for the EXACT same product? Look, going to school is a business decision and if you think otherwise, you're a fool. It's better to wait a year to get into a reasonably priced school than to pay back those years in ten fold after graduation.

You know what, I'm sick of arguing with people with no financial sense whatsoever. If you're that desperate for a PharmD, by all means, go for it.

who is here to argue with you? i am giving you a scenario. if you want to blow things out of proportion, go right ahead.

 

[bluesickle]

who is here to argue with you? i am giving you a scenario. if you want to blow things out of proportion, go right ahead.

First of all, your post had very little to do with your "scenario." You truly believe that tuition should be ignored because money is just money, and that it can be made while time cannot. Does it make sense to sacrifice future years in favor of one year today?

 

[pillcrazy123]

First of all, your post had very little to do with your "scenario." You truly believe that tuition should be ignored because money is just money, and that it can be made while time cannot. Does it make sense to sacrifice future years in favor of one year today?

i agree, spending a good amount of your future trying to pay for loans is also a waste of time. its better to waste one year and try getting into other schools than wasting countless years trying to pay back the high interest loans.

 

[jinsoku z]

i received an invitation for an interview in march. kind of late compared to the dates other people have been invited to. i thought i read someone said that they were invited to an interview when the class was already full? thats kind of discouraging. i hope thats not my situation.

 

[Shirmoz]

If you are interviewing in March, you are fine. The class is not full. I've been emailing gail on a regular basis and seems that there are still a lot of seats open.

I also agree that not everything is about money. My best friend is in her 4th year of vet school right now and she will be in 170K debt by the time she graduates. She told me that her vet school offers a course where they teach you how to manage your finances and offset your student loans when you graduate by making smart investments.

So yes, you may be 200K in debt when you graduate CNCP, but if you take a 30 year student loan you'll be paying small fractions monthly, and taking home good money that can be used for investments.

 

[iloveshoes]

does anyone know when they'll get back to us about the results for jan 30th interviews?

 

[jinsoku z]

If you are interviewing in March, you are fine. The class is not full. I've been emailing gail on a regular basis and seems that there are still a lot of seats open.

thanks for that info. you calmed my nerves...a bit. 😀

 

[pillcrazy123]

the problem with CNCP is that it is not accredited yet which means that student loans offered are high interest. so a loan will add up a lot of interest as you are trying to pay it off

 

[pillcrazy123]

i received an invitation for an interview in march. kind of late compared to the dates other people have been invited to. i thought i read someone said that they were invited to an interview when the class was already full? thats kind of discouraging. i hope thats not my situation.

i dont want to freak you out or anything but they already have had 3 interview sessions that i know of. they interview over 50 ppl each time and they are accepting only 80 to 90 ppl

 

[JeremyE30]

So yes, you may be 200K in debt when you graduate CNCP, but if you take a 30 year student loan you'll be paying small fractions monthly, and taking home good money that can be used for investments.

Actually it only makes a very small difference when you do 30 years instead of 15, because the interest is compounded over 30 years.

If you are stupid enough to put $235,000 on a credit card and pay that credit card off over 30 years, then you are stupid enough to attend CNCP and pay for it with private loans, because there is essentially no difference.

[FONT=ARIAL, HELVETICA]Loan Balance: .[FONT=ARIAL, HELVETICA] $235,000.00 . [FONT=ARIAL, HELVETICA] Adjusted Loan Balance: .[FONT=ARIAL, HELVETICA] $235,000.00
.[FONT=ARIAL, HELVETICA]Loan Interest Rate: .[FONT=ARIAL, HELVETICA] 16.00%. [FONT=ARIAL, HELVETICA] Loan Fees: .[FONT=ARIAL, HELVETICA] 0.00%. [FONT=ARIAL, HELVETICA] Loan Term: .[FONT=ARIAL, HELVETICA] 30 years.[FONT=ARIAL, HELVETICA]
. [FONT=ARIAL, HELVETICA]Monthly Loan Payment:.[FONT=ARIAL, HELVETICA] $3,160.18 . [FONT=ARIAL, HELVETICA] Number of Payments: .[FONT=ARIAL, HELVETICA] 360. [FONT=ARIAL, HELVETICA]
. [FONT=ARIAL, HELVETICA] Cumulative Payments: .[FONT=ARIAL, HELVETICA]$1,137,655.55 . [FONT=ARIAL, HELVETICA] Total Interest Paid: .[FONT=ARIAL, HELVETICA] $902,655.55 .

I really don't care what happens to you people. I have tried so many times to warn you that you are about to be slapped in the face with a lifelong scam.

I can't wait for the next 3-4 years to roll around to see how ****ed you people are.

 

[pillcrazy123]

Actually it only makes a very small difference when you do 30 years instead of 15, because the interest is compounded over 30 years.

If you are stupid enough to put $235,000 on a credit card and pay that credit card off over 30 years, then you are stupid enough to attend CNCP and pay for it with private loans, because there is essentially no difference.

[FONT=ARIAL, HELVETICA]Loan Balance: .[FONT=ARIAL, HELVETICA]$235,000.00 .[FONT=ARIAL, HELVETICA]Adjusted Loan Balance: .[FONT=ARIAL, HELVETICA]$235,000.00.
[FONT=ARIAL, HELVETICA]Loan Interest Rate: .[FONT=ARIAL, HELVETICA]16.00%. [FONT=ARIAL, HELVETICA]Loan Fees: .[FONT=ARIAL, HELVETICA]0.00%. [FONT=ARIAL, HELVETICA]Loan Term: .[FONT=ARIAL, HELVETICA]30 years.
[FONT=ARIAL, HELVETICA]Monthly Loan Payment:.[FONT=ARIAL, HELVETICA] $3,160.18 .[FONT=ARIAL, HELVETICA]Number of Payments: .[FONT=ARIAL, HELVETICA]360.
[FONT=ARIAL, HELVETICA]Cumulative Payments: .[FONT=ARIAL, HELVETICA]$1,137,655.55 .[FONT=ARIAL, HELVETICA]Total Interest Paid: .[FONT=ARIAL, HELVETICA]$902,655.55 .

I really don't care what happens to you people. I have tried so many times to warn you that you are about to be slapped in the face with a lifelong scam.

I can't wait for the next 3-4 years to roll around to see how ****ed you people are.

honestly, that is way to much money to pay for a PharmD. it is not worth ruining your future with such a big debt.

 

[Hizzo23]

JeremyE30, why don't you just shut your mouth and let people run their own lives..first of all, your calculations are wrong because the interest rate is not 16%..second of all, don't butt into other people's lives..third of all, if you're so good with numbers, why don't you just become an accountant or tax consultant..You can't wait for people to realize how screwed they are in 3-4 years?? wow that says a lot about your character. How did you get into pharmacy school? you deserve to fail out and I hope you do. Leave people alone. Did you ever think that this school is the only choice for some people?? Stop posting in this thread if you hate the school so much and you've been accepted somewhere else. 🙂🙂🙂🙂🙂🙂🙂🙂

 

[generic03]

Actually it only makes a very small difference when you do 30 years instead of 15, because the interest is compounded over 30 years.

If you are stupid enough to put $235,000 on a credit card and pay that credit card off over 30 years, then you are stupid enough to attend CNCP and pay for it with private loans, because there is essentially no difference.

[FONT=ARIAL, HELVETICA]Loan Balance: .[FONT=ARIAL, HELVETICA] $235,000.00 . [FONT=ARIAL, HELVETICA] Adjusted Loan Balance: .[FONT=ARIAL, HELVETICA] $235,000.00
.[FONT=ARIAL, HELVETICA]Loan Interest Rate: .[FONT=ARIAL, HELVETICA] 16.00%. [FONT=ARIAL, HELVETICA] Loan Fees: .[FONT=ARIAL, HELVETICA] 0.00%. [FONT=ARIAL, HELVETICA] Loan Term: .[FONT=ARIAL, HELVETICA] 30 years.[FONT=ARIAL, HELVETICA]
. [FONT=ARIAL, HELVETICA]Monthly Loan Payment:.[FONT=ARIAL, HELVETICA] $3,160.18 . [FONT=ARIAL, HELVETICA] Number of Payments: .[FONT=ARIAL, HELVETICA] 360. [FONT=ARIAL, HELVETICA]
. [FONT=ARIAL, HELVETICA] Cumulative Payments: .[FONT=ARIAL, HELVETICA]$1,137,655.55 . [FONT=ARIAL, HELVETICA] Total Interest Paid: .[FONT=ARIAL, HELVETICA] $902,655.55 .

I really don't care what happens to you people. I have tried so many times to warn you that you are about to be slapped in the face with a lifelong scam.

I can't wait for the next 3-4 years to roll around to see how ****ed you people are.

I can't wait to work alongside you in 3-4 years and have you running to me for help cuz you obviously are too ignorant to know what pharmacy is about. For you to talk down on people just because you think you know everything says a lot about your character. I doubt you will make a great pharmacist. You don't even compare to the students at CNCP. We are out to make a difference in the pharmacy field; you are out to make it look bad. I can't wait to see CNCP succeed-- and it's not because I want to shove it in your face, but because I believe students at CNCP will contribute a lot to the profession. It also won't hurt to see that we'll probably be your manager and you'll be wiping our @sses.

 

[ngocxit]

Actually it only makes a very small difference when you do 30 years instead of 15, because the interest is compounded over 30 years.

If you are stupid enough to put $235,000 on a credit card and pay that credit card off over 30 years, then you are stupid enough to attend CNCP and pay for it with private loans, because there is essentially no difference.

[FONT=ARIAL, HELVETICA]Loan Balance: .[FONT=ARIAL, HELVETICA] $235,000.00 . [FONT=ARIAL, HELVETICA] Adjusted Loan Balance: .[FONT=ARIAL, HELVETICA] $235,000.00
.[FONT=ARIAL, HELVETICA]Loan Interest Rate: .[FONT=ARIAL, HELVETICA] 16.00%. [FONT=ARIAL, HELVETICA] Loan Fees: .[FONT=ARIAL, HELVETICA] 0.00%. [FONT=ARIAL, HELVETICA] Loan Term: .[FONT=ARIAL, HELVETICA] 30 years.[FONT=ARIAL, HELVETICA]
. [FONT=ARIAL, HELVETICA]Monthly Loan Payment:.[FONT=ARIAL, HELVETICA] $3,160.18 . [FONT=ARIAL, HELVETICA] Number of Payments: .[FONT=ARIAL, HELVETICA] 360. [FONT=ARIAL, HELVETICA]
. [FONT=ARIAL, HELVETICA] Cumulative Payments: .[FONT=ARIAL, HELVETICA]$1,137,655.55 . [FONT=ARIAL, HELVETICA] Total Interest Paid: .[FONT=ARIAL, HELVETICA] $902,655.55 .

I really don't care what happens to you people. I have tried so many times to warn you that you are about to be slapped in the face with a lifelong scam.

I can't wait for the next 3-4 years to roll around to see how ****ed you people are.

regarding all the stat that you posted, I have no comments about its credibility or accuracy,
but I can see how evil and mean you are when you enjoy the moment of seeing people do not get what they want.
Wondering what pharmacy school grant an acceptance letter to any Ass"""e like you.

I am not applying to Cal North State, but I wish all students from Cal North State the best, 👍

 

[aFarmD]

Actually it only makes a very small difference when you do 30 years instead of 15, because the interest is compounded over 30 years.

If you are stupid enough to put $235,000 on a credit card and pay that credit card off over 30 years, then you are stupid enough to attend CNCP and pay for it with private loans, because there is essentially no difference.

This is a loan and there are many ways to pay back, eps. once you're graduate and start working. It is not like credit card debt.

[FONT=ARIAL, HELVETICA]Loan Balance: .[FONT=ARIAL, HELVETICA]$235,000.00 .[FONT=ARIAL, HELVETICA]Adjusted Loan Balance: .[FONT=ARIAL, HELVETICA]$235,000.00.
[FONT=ARIAL, HELVETICA]Loan Interest Rate: .[FONT=ARIAL, HELVETICA]16.00%. [FONT=ARIAL, HELVETICA]Loan Fees: .[FONT=ARIAL, HELVETICA]0.00%. [FONT=ARIAL, HELVETICA]Loan Term: .[FONT=ARIAL, HELVETICA]30 years.
[FONT=ARIAL, HELVETICA]Monthly Loan Payment:.[FONT=ARIAL, HELVETICA] $3,160.18 .[FONT=ARIAL, HELVETICA]Number of Payments: .[FONT=ARIAL, HELVETICA]360.
[FONT=ARIAL, HELVETICA]Cumulative Payments: .[FONT=ARIAL, HELVETICA]$1,137,655.55 .[FONT=ARIAL, HELVETICA]Total Interest Paid: .[FONT=ARIAL, HELVETICA]$902,655.55 .

Interest rate is not 16% FYI.
Look at your calculation for cum. payments: are you nuts or what? So according to this czry calculation of yours, anyone who buys a house for $235,000 with the 30 year payment plan would end up paying $1,137,655? What a crack head?

I really don't care what happens to you people. I have tried so many times to warn you that you are about to be slapped in the face with a lifelong scam.

Hawaiin COP a few years back was a scam. This is not. This is a way to earn your professional degree with some interest. So what? How many times will you kindly "warn" us? Please. Save your energy for something else. We can handle this loan and the payment plan without you a****** talking trash.

I can't wait for the next 3-4 years to roll around to see how ****ed you people are.

To be honest, CNCP might get candidate status in the next year or so. You don't have to wait till the first class graduates to get accredited (that's called full-accredited). Not to mention, once you graduate and start working, you can start to invest and multiply your income or work OT to earn more.

I see a bright future in CNCP and am grateful that you provide us with your info. 🙄 But its time to put a stop to it.

 

[kimd4]

Actually it only makes a very small difference when you do 30 years instead of 15, because the interest is compounded over 30 years.

If you are stupid enough to put $235,000 on a credit card and pay that credit card off over 30 years, then you are stupid enough to attend CNCP and pay for it with private loans, because there is essentially no difference.

[FONT=ARIAL, HELVETICA]Loan Balance: .[FONT=ARIAL, HELVETICA]$235,000.00 .[FONT=ARIAL, HELVETICA]Adjusted Loan Balance: .[FONT=ARIAL, HELVETICA]$235,000.00.
[FONT=ARIAL, HELVETICA]Loan Interest Rate: .[FONT=ARIAL, HELVETICA]16.00%. [FONT=ARIAL, HELVETICA]Loan Fees: .[FONT=ARIAL, HELVETICA]0.00%. [FONT=ARIAL, HELVETICA]Loan Term: .[FONT=ARIAL, HELVETICA]30 years.
[FONT=ARIAL, HELVETICA]Monthly Loan Payment:.[FONT=ARIAL, HELVETICA] $3,160.18 .[FONT=ARIAL, HELVETICA]Number of Payments: .[FONT=ARIAL, HELVETICA]360.
[FONT=ARIAL, HELVETICA]Cumulative Payments: .[FONT=ARIAL, HELVETICA]$1,137,655.55 .[FONT=ARIAL, HELVETICA]Total Interest Paid: .[FONT=ARIAL, HELVETICA]$902,655.55 .

I really don't care what happens to you people. I have tried so many times to warn you that you are about to be slapped in the face with a lifelong scam.

I can't wait for the next 3-4 years to roll around to see how ****ed you people are.

Obviously this post is going to put some concern to future applicants and regardless of how important money is to us, I think some of us deserve to have an accurate measurement of what were going to be up against financially paying off the loan. People are investing a lot of time, money, stress, inconvenience, etc. for the PharmD and if the payback is not as great as it was thought to be attending this school, then it can prevent some ppl getting screwed in the future w/o even being aware of this. Now I am not saying JeremyE30 is right, but no one has actually proved his calculations wrong. Putting up posts like "moneys not going to be an issue, its going to be okay," can lead to a false sense of hope unless some can prove that these calculations are not true. These are some ridiculously high numbers to be in debt with. I would like to help but unfortunately I am not too familiar with the whole interest rate/fin aid.

 

[aFarmD]

Obviously this post is going to put some concern to future applicants and regardless of how important money is to us, I think some of us deserve to have an accurate measurement of what were going to be up against financially paying off the loan. People are investing a lot of time, money, stress, inconvenience, etc. for the PharmD and if the payback is not as great as it was thought to be attending this school, then it can prevent some ppl getting screwed in the future w/o even being aware of this. Now I am not saying JeremyE30 is right, but no one has actually proved his calculations wrong. Putting up posts like "moneys not going to be an issue, its going to be okay," can lead to a false sense of hope unless some can prove that these calculations are not true. These are some ridiculously high numbers to be in debt with. I would like to help but unfortunately I am not too familiar with the whole interest rate/fin aid.

It is very simple. Take a case of a young couple who are new pharmacy graduates. They are going to purchase a home which costs $300,00. They are looking for a 30 year payment plan. Do you think they end up paying over a million ldollars ike Jeremy claims? Come on people, it doesn't take a genius to figure that out.

 

[kimd4]

It is very simple. Take a case of a young couple who are new pharmacy graduates. They are going to purchase a home which costs $300,00. They are looking for a 30 year payment plan. Do you think they end up paying over a million ldollars ike Jeremy claims? Come on people, it doesn't take a genius to figure that out.

Aren't average home interest rates about 5%? and Jeremy claims that CNCP interest rate is 16%...that about 3 times the amount...but then idk what the exact interest rate at CNCP is but I hear it is AT THE VERY LEAST 10%, that is still 2 times the amount of a home. Jeremy may be overexaggerating, but not by much if these numbers are true...

 

[optimistic01]

Although JeremyE30's calculations might be off a little, I THINK his point is clear and true. The interest rates on those student loans are extremely high and you will be paying for loans forever. As well, I'm unsure if those rates are fixed or variable. Having worked in finance, my personal decision is to withdraw my application from CNCP.

You have to ask yourself if you're willing to make this type of financial commitment. And if it is worth it for you.



They say that education is a long term investment. Is this investment worth it (to you)? GL everybody.

 

[confettiflyer]

Someone asked this question in the Univ. of NE thread so I thought I'd post it here:

I'm a little off topic here but some dude claims that one goes to CNCP will eventually pays over $1,000,000 with a 30 year payment plan. What is your take on that and what is your take on tuition and educational loan debt in general for those who go to pre-candidate rx school?
I like your posts and really value your opinions by the way👍

haha thanks... and geesh $1M over 30 years? Well, let's crunch some numbers:

Starting Balance
Let's say you need to borrow $50k/yr to go to CNCP (is it $34k tuition + living expenses of $16k), that's $200k when you graduate.

Interest Rate
Also, how much is the interest rate? Well, federal rates are 6.8% and 8.6%-ish for stafford and PLUS...so how do private loans fare? It'll depend, so let's peg this at 15% (source; LA Times http://www.latimes.com/business/la-fi-collegedebt27-2008dec27,0,4636992.column).

If you have access to a HELOC or other source of funding, you CAN fare better...but you can also fare worse. 15% seems to be the running average for private student loans.

Length of time to pay off loans
Set this to 30 years, but remember...if you pay more down initially, you'll reduce the overall balance you pay.

Calculations
Courtesy finaid.com with the above parameters

Loan Balance: $200,000.00
Loan Interest Rate: 15.00%
Loan Fees: 0.00% <--I assumed zero to keep it simple
Loan Term: 30 years

Monthly Loan Payment: $2,528.89
Number of Payments: 360

Cumulative Payments: $910,386.85
Total Interest Paid: $710,386.85

Personal notes
So whoever said going to CNCP can cost $1M wasn't exaggerating...if you take out more money to borrow, get a higher interest rate, or both....you'll top $1M easy. The key is also the loan payment term, you'll probably ask yourself, "Can't I pay more down each month to finish off the loan?" The answer is yes you can, BUT...take home pay as a pharmacist is likely to be $6k, so this current loan payment already eats close to half of your net income (source: http://forums.studentdoctor.net/showthread.php?t=594069)

Also, this violates my general rule that your 1st year of income should match the cost of attendance. Let me explain.... my old RPh at work graduated sometime 30 years ago, UOP cost $12k for a BS Pharm and he got a job with a retail chain and made.... about $12k. Barring any major circumstances, you can get a retail job and pull in about $120k (salary + some OT), which means if you pay $120k to go to school ($30k x 4yrs), you're about par for the course.

With my BS degree, I spent ~ $35k ($6k tuition x 4 years + living expenses) going to a public school. When I got out into the workforce after I graduated, I made just about $40k/yr. Again, par for the course.

However, now that you've shelled out $200k for school, you've overshot "par for the course" and are playing catch up. Is it still worth it? Probably, but comparatively speaking, you're paying more in both the actual cost of school AND interest rate (front and back end).

PS I think I see the CNCP thread you're talking about...I breezed through it just now, I think JeremyE30 is doing a good job trying to regulate. I'll stay out for now, if I jumped in, I'd probably make those naive students crap their pants and cry

 

[confettiflyer]

hmm...someone just corrected me and said tuition at CNCP is $40k+...is this true? if so, adjust my numbers accordingly.

 

[farmD4me]

I can't wait to work alongside you in 3-4 years and have you running to me for help cuz you obviously are too ignorant to know what pharmacy is about. For you to talk down on people just because you think you know everything says a lot about your character. I doubt you will make a great pharmacist. You don't even compare to the students at CNCP. We are out to make a difference in the pharmacy field; you are out to make it look bad. I can't wait to see CNCP succeed-- and it's not because I want to shove it in your face, but because I believe students at CNCP will contribute a lot to the profession. It also won't hurt to see that we'll probably be your manager and you'll be wiping our @sses.

Who are you to determine who compares to who? Do you know the person? ..NO! You mention talking down on people and here you are talking all this crap as well!!

I don't understand why people like you get all worked up over posts on here anyway. This is a forum and everyone is entitled to their opinion! I think that people like JeremyE30 and Confettiflyer are kind enough and concerned enough to take time out of their day to give a WARNING to those who are/were interested in this school. 🙂

 

[aFarmD]

Someone asked this question in the Univ. of NE thread so I thought I'd post it here:



haha thanks... and geesh $1M over 30 years? Well, let's crunch some numbers:

Starting Balance
Let's say you need to borrow $50k/yr to go to CNCP (is it $34k tuition + living expenses of $16k), that's $200k when you graduate.

Interest Rate
Also, how much is the interest rate? Well, federal rates are 6.8% and 8.6%-ish for stafford and PLUS...so how do private loans fare? It'll depend, so let's peg this at 15% (source; LA Times http://www.latimes.com/business/la-fi-collegedebt27-2008dec27,0,4636992.column).

If you have access to a HELOC or other source of funding, you CAN fare better...but you can also fare worse. 15% seems to be the running average for private student loans.

Length of time to pay off loans
Set this to 30 years, but remember...if you pay more down initially, you'll reduce the overall balance you pay.

Calculations
Courtesy finaid.com with the above parameters

Loan Balance: $200,000.00
Loan Interest Rate: 15.00%
Loan Fees: 0.00% <--I assumed zero to keep it simple
Loan Term: 30 years

Monthly Loan Payment: $2,528.89
Number of Payments: 360

Cumulative Payments: $910,386.85
Total Interest Paid: $710,386.85

Personal notes
So whoever said going to CNCP can cost $1M wasn't exaggerating...if you take out more money to borrow, get a higher interest rate, or both....you'll top $1M easy. The key is also the loan payment term, you'll probably ask yourself, "Can't I pay more down each month to finish off the loan?" The answer is yes you can, BUT...take home pay as a pharmacist is likely to be $6k, so this current loan payment already eats close to half of your net income (source: http://forums.studentdoctor.net/showthread.php?t=594069)

Also, this violates my general rule that your 1st year of income should match the cost of attendance. Let me explain.... my old RPh at work graduated sometime 30 years ago, UOP cost $12k for a BS Pharm and he got a job with a retail chain and made.... about $12k. Barring any major circumstances, you can get a retail job and pull in about $120k (salary + some OT), which means if you pay $120k to go to school ($30k x 4yrs), you're about par for the course.

With my BS degree, I spent ~ $35k ($6k tuition x 4 years + living expenses) going to a public school. When I got out into the workforce after I graduated, I made just about $40k/yr. Again, par for the course.

However, now that you've shelled out $200k for school, you've overshot "par for the course" and are playing catch up. Is it still worth it? Probably, but comparatively speaking, you're paying more in both the actual cost of school AND interest rate (front and back end).

PS I think I see the CNCP thread you're talking about...I breezed through it just now, I think JeremyE30 is doing a good job trying to regulate. I'll stay out for now, if I jumped in, I'd probably make those naive students crap their pants and cry

Thanks Confettiflyer. You always explain things clearly with no bias.
Now I can see how the $200,000 could get out of hand and one could eventually pay up to 1M. That is kinda disgusting.

I guess Jerermy is right in the sense that one has no other ways of finanical support and soly relies on the private loans could end up paying that much. For those with financial support, you might be OK so long as the principle of private loan is lowered.

Anyways, any1 crap their pants yet?

 

[MIkeNB]

Hey i just did some calculations myself. I post it on the new england. If u pay it of within 10 years, it wont hurt you as much.

 

[confettiflyer]

Yeah it's the interest rate that will get you, so I'd seriously consider going to at least a regionally accredited school for financial reasons. I pay $27k/yr in tuition and assuming I borrow $44k for living expenses:

Loan Balance: $176,000.00
Adjusted Loan Balance: $176,000.00
Loan Interest Rate: 7.50%
Loan Term: 20 years

Monthly Loan Payment: $1,417.84
Number of Payments: 241

Cumulative Payments: $340,283.84

I picked 7.5% since it's a weighted average of 8.5 and 6.8 (roughly speaking), please note that federal loans are amortized over 20 years not 30.

As for no bias, I wouldn't quite say that =) There are other reasons why I am not a fan of CNCP (this financial thing is just one of them). I had a fairly heated debate in the c/o 2012 thread where I stated that I thought the school wouldn't get pre-accred (I was wrong!) But here are the reasons why I'm no fan of CNCP

1) team based learning (I hate that crap)
2) at the time, they had no building, only a little office in sac
3) affiliation with a former UOP dean was dropped (apparently he left UOP for CNCP, but then turned foot and went right back to UOP after a few months).
4) at the time, lack of website updates and lack of updates by staff to applicants
5) competition for APPE rotations/IPPE sites with existing nor-cal schools (UOP, UCSF, Touro), means CNCP gets the short end of the stick.
6) stand alone, private, for profit school = red flags and a higher likelihood of failure vs. a program opening at an existing school.
7) idiot applicants thought there was a connection to UC Davis (yeah, right...bwahahhaha)
8) lack of regional accreditation = one more hump to scale in order to get full accreditation. Also means a lack of federal student loans available (see above discussion already).
9) possible intern market saturation due to the proximity of other schools (not so much since vallejo-touro and stockton-UOP aren't *that* close, but close enough to affect major rotation sites in #5)
10) lack of affiliated hospital
11) faculty seemed...uhh...all interenational at the time, but it seems as though they've hired a few more folks.

but yeah...that's all i'm going to post in here, i don't have as much free time to argue anymore. also, the above *may* have changed, i've noted where i've found new info.

bottom line: if you have a choice in schools, CNCP should be subordinate to that school for obvious reasons. If this is your only acceptance, at least know the risks/issues before signing on the dotted line (which I know you will inevitably do).

 

[generic03]

Who are you to determine who compares to who? Do you know the person? ..NO! You mention talking down on people and here you are talking all this crap as well!!

I don't understand why people like you get all worked up over posts on here anyway. This is a forum and everyone is entitled to their opinion! I think that people like JeremyE30 and Confettiflyer are kind enough and concerned enough to take time out of their day to give a WARNING to those who are/were interested in this school. 🙂

please. look who is getting worked up? you sure sound like it. i'm entitled to my opinion as well. and yes, i think JeremyE30 gave me plenty of reasons to look down on him. if not him, then his online persona.

no one is denying there's a money issue. however, the so-called "warnings" are getting way out of hand. who are you to say that cncp is a scam? if anything, cncp will lead the way for all future pharmacy schools.

 

[aFarmD]

Yeah it's the interest rate that will get you, so I'd seriously consider going to at least a regionally accredited school for financial reasons. I pay $27k/yr in tuition and assuming I borrow $44k for living expenses:

Loan Balance: $176,000.00
Adjusted Loan Balance: $176,000.00
Loan Interest Rate: 7.50%
Loan Term: 20 years

Monthly Loan Payment: $1,417.84
Number of Payments: 241

Cumulative Payments: $340,283.84

I picked 7.5% since it's a weighted average of 8.5 and 6.8 (roughly speaking), please note that federal loans are amortized over 20 years not 30.

As for no bias, I wouldn't quite say that =) There are other reasons why I am not a fan of CNCP (this financial thing is just one of them). I had a fairly heated debate in the c/o 2012 thread where I stated that I thought the school wouldn't get pre-accred (I was wrong!) But here are the reasons why I'm no fan of CNCP

1) team based learning (I hate that crap)

it's alright IMO except you have to work harder.

2) at the time, they had no building, only a little office in sac

Now they do and they are working on the second floor for P2 students

3) affiliation with a former UOP dean was dropped (apparently he left UOP for CNCP, but then turned foot and went right back to UOP after a few months).

I don't know about this former Dean but the current Dean is an excellent scholar according to many professors at my school.

4) at the time, lack of website updates and lack of updates by staff to applicants

Agree. This is not resolved yet. Their ws looks the same as months back

5) competition for APPE rotations/IPPE sites with existing nor-cal schools (UOP, UCSF, Touro), means CNCP gets the short end of the stick.

Agree. Although CNCP students can still get IPPE sites however might have long drive

6) stand alone, private, for profit school = red flags and a higher likelihood of failure vs. a program opening at an existing school.

Totally agree

7) idiot applicants thought there was a connection to UC Davis (yeah, right...bwahahhaha)

I didn't know some actually believed there was such thing.

8) lack of regional accreditation = one more hump to scale in order to get full accreditation. Also means a lack of federal student loans available (see above discussion already).

Totally agree.

9) possible intern market saturation due to the proximity of other schools (not so much since vallejo-touro and stockton-UOP aren't *that* close, but close enough to affect major rotation sites in #5)

Totally agree.

10) lack of affiliated hospital

don't know much about this one

11) faculty seemed...uhh...all interenational at the time, but it seems as though they've hired a few more folks.

yeah well. I think they're recruiting more faculty

but yeah...that's all i'm going to post in here, i don't have as much free time to argue anymore. also, the above *may* have changed, i've noted where i've found new info.

bottom line: if you have a choice in schools, CNCP should be subordinate to that school for obvious reasons. If this is your only acceptance, at least know the risks/issues before signing on the dotted line (which I know you will inevitably do).

I and perhaps many others really appreciate your effort in pointing out these crucial factors in considering to attend CNCP.
I totally agree with you on the financial reasons. There is no doubt about that. In addition, I want to add that there is a chance that the school might not get accredited and you end up not being eligible for NAPLEX and paying back the student loan. That is the most scary thing of all.

As for the numbers of other reasons you're not a fan of CNCP. I agree with some and not with others. See above.
Thanks again. You're awesome👍

 

[Shirmoz]

I have a friend who attends CNCP. He got a loan from sally MAE at an interest rate of 9%. Where you guys got 16% from, I'm not sure. Plus I don't think his credit is the best. Maybe if u have really good credit or can cosign with someone, you'll get a better rate?

 

[aFarmD]

I have a friend who attends CNCP. He got a loan from sally MAE at an interest rate of 9%. Where you guys got 16% from, I'm not sure. Plus I don't think his credit is the best. Maybe if u have really good credit or can cosign with someone, you'll get a better rate?

I think 16% is the general interest rate for private student loan. There are exceptional cases like your friend's where the rate is much lower. He's lucky; 9% is not that bad at all.

I think we all should take these pieces of info. as a caution when applying for student loan, spending habit while in school, and making payment plan. Other than that, I don't see any serious problems.

 

[Hizzo23]

haha I love it how you people are just throwing numbers around..i've seen 16%, i've seen 17%..where do u get your numbers from? The highest I've heard of someone at CNCP say is 13%. That is still high but better than your 16 and 17%, or let me just throw a random number.....40% My interest is 10%..that's better than 16,17 and 40 right???

 

[aFarmD]

haha I love it how you people are just throwing numbers around..i've seen 16%, i've seen 17%..where do u get your numbers from? The highest I've heard of someone at CNCP say is 13%. That is still high but better than your 16 and 17%, or let me just throw a random number.....40% My interest is 10%..that's better than 16,17 and 40 right???

IMO, 17% is just a worst case senerio rate. The typical range is 7-17%.
I don't think we should be too worked up about the loan right now. Like the VP said at the interview, be sure you get in the program first 😎

 

[aFarmD]

YaY.



CNCP c/o2013 anyone else?

 

[iloveshoes]

hey farmd, i was wondering when your interview was, and when and how you found out you got in? was it by email or phone? haha thanks im on the edge of my seat!

 

[aFarmD]

hey farmd, i was wondering when your interview was, and when and how you found out you got in? was it by email or phone? haha thanks im on the edge of my seat!

back in Dec '08.
They sent the acceptance via snail mail so you should start stalking the mailman

BTY, when was your interview?

 

[iloveshoes]

o okay phew, my interview was on jan 31.. so it took them like 2 months to get back to you?

 

[aFarmD]

o okay phew, my interview was on jan 31.. so it took them like 2 months to get back to you?

yep. That was the first batch though. I wonder if they speed up the process for later batches.
good luck

 

[makinit09]

Finally! after what feels like forever..i got an interview invite for 3/6 or 3/13..😀

 

[Proteomics]

YaY.



CNCP c/o2013 anyone else?

Congra! see you in the fall!

 

[prayosha]

I got an interview as well either on Mar 06 or 16th.
Post advise for the interview please.

 

[aFarmD]

Congra! see you in the fall!

See ya there.
You were interview back in Dec as well?

Good luck to those interviewing

 

[dmd20000]

i applied to Northstate via pharmcas, but do we have to fill out the application on their website?

 

[RXsocal]

please. look who is getting worked up? you sure sound like it. i'm entitled to my opinion as well. and yes, i think JeremyE30 gave me plenty of reasons to look down on him. if not him, then his online persona.

no one is denying there's a money issue. however, the so-called "warnings" are getting way out of hand. who are you to say that cncp is a scam? if anything, cncp will lead the way for all future pharmacy schools.

"if anything, cncp will lead the way for all future pharmacy schools" ??

Wow, your baseless arguments fall under so many fallacies. Who are you to say that cncp will lead way for all future pharmacy schools? Your attachment to cncp is just like blind faith. I believe Jerome's got a point about the rip off. Look, he doesn't care if you go there or not. He's just trying to warn people like you, but you have to be so defensive.

 

[Pharmacyguy4]

I try not to check this thread anymore because it's the same old story, people are always hating or have something negative about cncp. Just keep your opinions to yourself...Like confetyfiller or something like that, "blah blah blah blah blah." Enough already, u go to a diff school so y are u still posting on here?? If I remember correctly, weren't you declined admissions last year without even an interview invite? I mean if you're not applying to this school, why bother wasting your energy and talking crap about it? I mean there are some things I don't like about cncp such as the high tuition and loan situation, but it is what it is. We're still a brand new school and trust me, from what I've seen, this school has the potential to be one of the best in Cali. It will take time but I have no doubt. At my IPPE site right now, my preceptor is very impressed with how much I already know about medications/indications, interactions, and contraindications with diff drugs. He is even impressed with how we do our consultations because they teach us the right q's to ask in order to extract as much info about the patient complaint. I'm doing all this and I have no pharmacy experience at all. There are other interns at my rotation site from UoP (including 4th year students) and my preceptor said that they don't really do a good job. So that tells you that when us cncp students say that it is going to prepare us to be the best pharmacists out there, we're not showing any biasis with that statement. That's the truth. I guess that's all I have to say for now. Oh and congrats to all who were accepted and will be attending 🙂

"if anything, cncp will lead the way for all future pharmacy schools" ??

Wow, your baseless arguments fall under so many fallacies. Who are you to say that cncp will lead way for all future pharmacy schools? Your attachment to cncp is just like blind faith. I believe Jerome's got a point about the rip off. Look, he doesn't care if you go there or not. He's just trying to warn people like you, but you have to be so defensive.

 

[jinsoku z]

i applied to Northstate via pharmcas, but do we have to fill out the application on their website?

they had a supplemental app due already...i dont remember when it was due. if you havent turned that in already, its unfortunately too late since the 2009 cycle is closed now.

 

[PharmD83]

I try not to check this thread anymore because it's the same old story, people are always hating or have something negative about cncp. Just keep your opinions to yourself...Like confetyfiller or something like that, "blah blah blah blah blah." Enough already, u go to a diff school so y are u still posting on here?? If I remember correctly, weren't you declined admissions last year without even an interview invite? I mean if you're not applying to this school, why bother wasting your energy and talking crap about it? I mean there are some things I don't like about cncp such as the high tuition and loan situation, but it is what it is. We're still a brand new school and trust me, from what I've seen, this school has the potential to be one of the best in Cali. It will take time but I have no doubt. At my IPPE site right now, my preceptor is very impressed with how much I already know about medications/indications, interactions, and contraindications with diff drugs. He is even impressed with how we do our consultations because they teach us the right q's to ask in order to extract as much info about the patient complaint. I'm doing all this and I have no pharmacy experience at all. There are other interns at my rotation site from UoP (including 4th year students) and my preceptor said that they don't really do a good job. So that tells you that when us cncp students say that it is going to prepare us to be the best pharmacists out there, we're not showing any biasis with that statement. That's the truth. I guess that's all I have to say for now. Oh and congrats to all who were accepted and will be attending 🙂

That's Right!! and Oh yea, I am proud to say that I know a lot more information about medications, interactions, and indications then most of the students that I know who are in their second year at other Pharmacy schools!!! We're only finished with our first semester. Go figure. So are we on the right track? I would say so. Thanks Pharmacyguy for being honest. For those of you who are interviewing in the future, good luck. For those of you who accepted, congrats!! Let us know how P2 students can help.

 

[Allright]

There is nothing wrong with students defending the school but to say
things like that cncp will lead way for all future pharmacy schools be prepared to defend such statments and explain how it is some innovative new school that will lead the way for new schools.

There are other interns at my rotation site from UoP (including 4th year students) and my preceptor said that they don't really do a good job.

UOP is a 3 year school not 4 year.. I think your preceptor is just trying to make you feel good

and do you guys think your interest rates might go up from last year due to the worsening economy?

 

[confettiflyer]

Like confetyfiller or something like that, "blah blah blah blah blah." Enough already, u go to a diff school so y are u still posting on here?? If I remember correctly, weren't you declined admissions last year without even an interview invite?

lol no you have a faulty memory, i remember getting a packet to apply to the school but i looked it up and it was still being run out of some attorney's office in sac. clearly that's not the case now and a lot of the issues have since passed, but hey everything i've posted on here (and the previous thread) are valid points. take them for what they are.

so are you saying everyone should shut up about any negativity and talk about ice cream and rainbows? hahah.

 

[generic03]

There is nothing wrong with students defending the school but to say
things like that cncp will lead way for all future pharmacy schools be prepared to defend such statments and explain how it is some innovative new school that will lead the way for new schools.


UOP is a 3 year school not 4 year.. I think your preceptor is just trying to make you feel good

and do you guys think your interest rates might go up from last year due to the worsening economy?

i say so because there's a new pharmacy school (forgot what state) that is going to follow cncp's footsteps and implement the TBL curriculum. We've only completed our first semester and like others have mentioned, many people are impressed with our school and our knowledge of disease states/meds. I don't know why you all think you're in the position to "warn" others when all you know is heresay. We're all going to be colleagues one day... it makes me cringe to know I might be working with such pricks in the future.