Class of 2014!!!!!!!!!!!!!!!!!!!!!!!!!!

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drizzt3117 said:
I mean it really depends where you go to school, but a lot of people come out ahead. Economically it works out like this. The stipend counts as income, and a lot of people use it to buy a house, so the economics become drastically different.

Let's say you got a stipend of 28k and you went to... say... Ohio State. Median home value in Columbus is $155k for a single family home. If you got an interest only loan, got the first time home buyer's grant for Ohio ($3100) and covered your closing costs and 1% of the value, you'd have mortgage payments of $997. You're paying approximately $10k in interest a year, which is deductible as an expense. You will pay $1550 a year in property tax and homeowner's insurance will be around the same, but that expense is also tax deductible. So running the numbers, with that, you'll pay about $2500 in taxes (just income, no FICA) for state and federal, meaning your take home is $25500, $13000 of it goes towards housing related costs, leaving you $12500, which is significantly more than a med student would have in their COA after paying for housing. You could probably save $5k a year in this scenario, which they invest at 5% interest. We'll compare this to someone going to OSU OOS (first year OOS, next 3 IS) totaling $245396. $8500 each year, for a total of $34000 will be subsidized, if the student takes out unsub stafford loans and grad plus for the rest at an average of 6.9% fixed which accrues immediately. Let's say they stay in Columbus for res/fellowship, get paid $50,000 as a resident and $60,000 as a fellowship and buy a house for the same cost as person 1 and put every single dollar they can afford after their living expenses towards repayment (which is very unrealistic), and let's assume they do an IM residency and GI fellowship for a total of 6 years in training. With income of $50000, they can repay $21000 a year during residency and $30250 a year during fellowship, leaving them a total of $205930 in the hole after residency and fellowship, with home equity of about $40,000 after 6 years. Median salary for a gastroenterologist is $315,000, let's say our person starts as an associate at $250,000 for two years, then moves up to $300,000 in year 3. By my calculations, this person would be able to pay off all their loans by year 3 and have saved $145,000. This is the BEST case scenario, assuming they spend every single dollar over what they need to live and put it towards their mortgage. With the increase in home equity (2% appreciation) and what they earn in home equity, they'd have about $55000 in home equity at this point as well.

Meanwhile taking a look at our MD/PhD friend, if they did the same track, they'd have about $50,000 saved by the end of med school, with about $60,000 in home equity. During residency and fellowship, since they have no debt repayment, they can save the $21000 and $30250 instead of paying back the loan, leaving them with $248473 in savings by the end of residency, at the same time point as the person working three years. They would also have home equity of approximately $90000 at this point, leaving them about $130,000 ahead of the person doing MD only.

Keep in mind that these are 1) the best case scenarios 2) pretty quick/dirty calculations, the math is right but there's a lot of assumptions I didn't check into 3) the MD person still repays all their loans by year 3, which is pretty awesome in my book. 4) this assumes repayment. If they made the minimum payments on their debt service during residency and fellowship they'd owe about $375,000 by the end of fellowship, meaning it would take just over 3 years to pay it back assuming they did so super aggressively after they finished fellowship.
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sounds sick 👍
 
brooklynblunder said:
nice. what made you feel like they wouldn't go further down
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I knew it was a good company (just in a crappy country) and it was oversold on huge volume when I bought it. It just didn't look like it had much downward momentum left. Plus, the EU bailout patrol was getting ready to run to the rescue (the greece debt downgrades was the reason it got sold off in the first place).
 
homealone_headerFINAL.jpg
 
hey kids. sinai revisit = check. now, onto packing and moving... fml.
 
drizzt3117 said:
OMFG, I forgot how hot European (especially Scandinavian) saunas are... need to take it easy with the water when it's at 105 C... I think I have some first degree burns haha

<3 Starwood hotels internationally, their gym in this hotel is nicer than the one at our school haha
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🙁 Hope it's not that bad. Saunas are scary!

drizzt3117 said:
I mean it really depends where you go to school, but a lot of people come out ahead. Economically it works out like this. The stipend counts as income, and a lot of people use it to buy a house, so the economics become drastically different.

Let's say you got a stipend of 28k and you went to... say... Ohio State. Median home value in Columbus is $155k for a single family home. If you got an interest only loan, got the first time home buyer's grant for Ohio ($3100) and covered your closing costs and 1% of the value, you'd have mortgage payments of $997. You're paying approximately $10k in interest a year, which is deductible as an expense. You will pay $1550 a year in property tax and homeowner's insurance will be around the same, but that expense is also tax deductible. So running the numbers, with that, you'll pay about $2500 in taxes (just income, no FICA) for state and federal, meaning your take home is $25500, $13000 of it goes towards housing related costs, leaving you $12500, which is significantly more than a med student would have in their COA after paying for housing. You could probably save $5k a year in this scenario, which they invest at 5% interest. We'll compare this to someone going to OSU OOS (first year OOS, next 3 IS) totaling $245396. $8500 each year, for a total of $34000 will be subsidized, if the student takes out unsub stafford loans and grad plus for the rest at an average of 6.9% fixed which accrues immediately. Let's say they stay in Columbus for res/fellowship, get paid $50,000 as a resident and $60,000 as a fellowship and buy a house for the same cost as person 1 and put every single dollar they can afford after their living expenses towards repayment (which is very unrealistic), and let's assume they do an IM residency and GI fellowship for a total of 6 years in training. With income of $50000, they can repay $21000 a year during residency and $30250 a year during fellowship, leaving them a total of $205930 in the hole after residency and fellowship, with home equity of about $40,000 after 6 years. Median salary for a gastroenterologist is $315,000, let's say our person starts as an associate at $250,000 for two years, then moves up to $300,000 in year 3. By my calculations, this person would be able to pay off all their loans by year 3 and have saved $145,000. This is the BEST case scenario, assuming they spend every single dollar over what they need to live and put it towards their mortgage. With the increase in home equity (2% appreciation) and what they earn in home equity, they'd have about $55000 in home equity at this point as well.

Meanwhile taking a look at our MD/PhD friend, if they did the same track, they'd have about $50,000 saved by the end of med school, with about $60,000 in home equity. During residency and fellowship, since they have no debt repayment, they can save the $21000 and $30250 instead of paying back the loan, leaving them with $248473 in savings by the end of residency, at the same time point as the person working three years. They would also have home equity of approximately $90000 at this point, leaving them about $130,000 ahead of the person doing MD only.

Keep in mind that these are 1) the best case scenarios 2) pretty quick/dirty calculations, the math is right but there's a lot of assumptions I didn't check into 3) the MD person still repays all their loans by year 3, which is pretty awesome in my book. 4) this assumes repayment. If they made the minimum payments on their debt service during residency and fellowship they'd owe about $375,000 by the end of fellowship, meaning it would take just over 3 years to pay it back assuming they did so super aggressively after they finished fellowship.
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TLDR
 
brooklynblunder said:
how was revisit?
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overall feeling about revisit = meh.

honestly, i was really excited about everything *except* for the people. that was disappointing even if it didn't quite manage to outweigh alllll of the other major positives. i only met 1-2 people that i felt like i could/would be friends with... i was shocked how many people had the frat boy/girl mindset of "every spare second i get during school is going to be spent drinking." i mean, i get that i'm a huge loser and choose to spend my time differently than most other 23-year-olds, but i thought in med school there would be more people like me.

and it's not only the partying... i just felt like so many people i met there were the cool kids in high school. you know what i mean. and that is SO not me-- i'm weird, and artsy, and occasionally awkward, and a homebody. not totally put together and fabulous.

so now i'm feeling excited about my future academic experiences but really depressed about how lonely and friendless i'm going to be. though i'm trying to remind myself that the people who have more in common with me might be too quiet to have introduced themselves... so i just didn't meet them. :xf:
 
dw2158 said:
overall feeling about revisit = meh.

honestly, i was really excited about everything *except* for the people. that was disappointing even if it didn't quite manage to outweigh alllll of the other major positives. i only met 1-2 people that i felt like i could/would be friends with... i was shocked how many people had the frat boy/girl mindset of "every spare second i get during school is going to be spent drinking." i mean, i get that i'm a huge loser and choose to spend my time differently than most other 23-year-olds, but i thought in med school there would be more people like me.

and it's not only the partying... i just felt like so many people i met there were the cool kids in high school. you know what i mean. and that is SO not me-- i'm weird, and artsy, and occasionally awkward, and a homebody. not totally put together and fabulous.

so now i'm feeling excited about my future academic experiences but really depressed about how lonely and friendless i'm going to be. though i'm trying to remind myself that the people who have more in common with me might be too quiet to have introduced themselves... so i just didn't meet them. :xf:
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Well med school definitely feels like a work hard / play hard kinda scene. But I have no intention to be drinking over every free minute I have (especially since I don't drink 😛 ). I def met a lot of people at Penn who were awesome and wanted to have fun; but not nesc. get trashed. But I see what you mean DW - that would've worried me too 🙁

Maybe they are just talking like big shots but won't be that crazy when they actually start? :xf: Or maybe you just met a bad subset 🙂 I'm sure there's going to be people there from all walks of life. Besides, if they suck; the great thing about NYC is you can always find other cool people to hang out with!

btw you are always welcome to ride down to philly to hang out with us at Penn! 😀
 
Sentinel said:
Well med school definitely feels like a work hard / play hard kinda scene. But I have no intention to be drinking over every free minute I have (especially since I don't drink 😛 ). I def met a lot of people at Penn who were awesome and wanted to have fun; but not nesc. get trashed. But I see what you mean DW - that would've worried me too 🙁

Maybe they are just talking like big shots but won't be that crazy when they actually start? :xf: Or maybe you just met a bad subset 🙂 I'm sure there's going to be people there from all walks of life. Besides, if they suck; the great thing about NYC is you can always find other cool people to hang out with!

btw you are always welcome to ride down to philly to hang out with us at Penn! 😀
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thanks... i'm sure you're right 🙂

just out of curiosity-- since you don't drink, do you still do the bar scene, or do you just opt out? personally, there are 8 gazillion things i'd rather do than go to a bar, and i can't imagine it would be at all appealing if you didn't drink.
 
dw2158 said:
thanks... i'm sure you're right 🙂

just out of curiosity-- since you don't drink, do you still do the bar scene, or do you just opt out? personally, there are 8 gazillion things i'd rather do than go to a bar, and i can't imagine it would be at all appealing if you didn't drink.
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I do the bar scene every chance I get 😀 I try to do all those other 8 gazillion things too... and go to the bars as well. I prefer places I can dance though because that's what I enjoy. I never run out of energy (ever) so I love dancing... and dancing with drunk people is just a lot of fun :laugh:

I don't need drinks to loosen myself up. I say stupid things and have no inhibitions as is; so drinking doesn't do anything for me. But it does help my friends relax, so I don't mind the bar scene - I just get a sprite or something. It's kinda fun to just go hang out and chill too (because, again, that's just how some of my friends chill and that's ok)

Besides, the best part of going out w/ ur friends who drink? You remember everything the next day :meanie: It's kinda awesome. And I just for some reason take care of people - so they trust me and make sure I have a good time when I'm out with them so it works out for everyone! 😎

brooklynblunder said:
*plans to get trashed every free minute 🙁 *
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:highfive: I totally approve of this just because it's pure entertainment for me.

ksmi117 said:
Currently in my cousin's bunk bed. Why is there no A/C in this place???????
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ur cousin's a cheapo? :meanie: I'm sorry I'm sorry I'm sure he's really nice - I just couldn't resist :laugh:
 
Sentinel said:
ur cousin's a cheapo? :meanie: I'm sorry I'm sorry I'm sure he's really nice - I just couldn't resist :laugh:
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My cousin is 15. :laugh:

Sentinel said:
hot = less clothing.

I prefer it that way (sorry I'm a guy; my mind has only 1 track to run on :laugh: )
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🙄 It's true though. I changed from PJ pants to boxers. I'm sure you were all wondering what I was wearing to bed. Now you know, a tank top and boxers.
 
ksmi117 said:
🙄 It's true though. I changed from PJ pants to boxers. I'm sure you were all wondering what I was wearing to bed. Now you know, a tank top and boxers.
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You see, I'm a scientist - so unless I see photographic evidence; I cannot accept your statement as fact! :meanie:
 
ksmi117 said:
:nono:
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party pooper

Besides... I had to try 😀

And yea I'm in shorts right now too; I've got to turn on my AC; I just can't remember if I cleaned out the filter yet (it's a pain to get the damn filter out and back into my unit)

Guess I'll turn it on and smell the air to find out :laugh:

But yea.. it finally feels like spring! Whoo! 😀 Was driving around today - beautiful day!
 
Sentinel said:
I do the bar scene every chance I get 😀 I try to do all those other 8 gazillion things too... and go to the bars as well. I prefer places I can dance though because that's what I enjoy. I never run out of energy (ever) so I love dancing... and dancing with drunk people is just a lot of fun :laugh:

I don't need drinks to loosen myself up. I say stupid things and have no inhibitions as is; so drinking doesn't do anything for me. But it does help my friends relax, so I don't mind the bar scene - I just get a sprite or something. It's kinda fun to just go hang out and chill too (because, again, that's just how some of my friends chill and that's ok)

Besides, the best part of going out w/ ur friends who drink? You remember everything the next day :meanie: It's kinda awesome. And I just for some reason take care of people - so they trust me and make sure I have a good time when I'm out with them so it works out for everyone! 😎
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yeah, i don't enjoy being around drunk people like that :shrug:
 
speaking of being cool, i'm going to bed. goodnight, all
 
dw2158 said:
:laugh: that means a lot, coming from someone who's never met me :d
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brooklynblunder said:
well, its the word on the street
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👍 I agree w/ brooklyn

And yea it's def a personality type DW - I like hanging out w/ 'em. If you don't - I can almost guarantee you there will be people you can hang out w/. That's the one good thing about med school. Older group = more diverse backgrounds etc.
 
yup. i think i understand dubs though. NYC has so many people, it can really be the loneliest place on earth sometimes.
 
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