Cost of Living During Med School

[Earl Simmons]

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[sciencebooks]

Hi all, I'm new to the forum but I hope you can welcome me with open arms and answer this q. that is really bothering me. 🙂

So, I am a Texas resident and I am weighing options for my schooling during undergrad and med school down the line. I have 3 possibilities right now:

a) Wayne State MedStart (8 year BS-MD, non-binding, requires 30 MCAT with 9 minimum in each section along with a 3.5 GPA in all BCMP courses): I made the top 36 finalist interview stage and did well and I think that I should be admitted (15 are selected). If accepted and if I decide to go, my family could move to an area near Michigan and establish Michigan residency down the line. I am looking at (worst case) $40,000 for undergrad and $30,000 a year for medical school (this is just tuition and fees; I'd live at home for the med portion).
TOTAL COST: 40+30*4 +15 (misc, inflation, etc.) = ~$175,000

b) UT Austin -> Texas state Medical School (+ Baylor): I messed up with my UT application and will not get scholarships (although I may get grants if I get lucky with my Financial Aid application). I have a 2300 SAT I, 4.0, and my class rank is 1/340, so I really messed up. Scholarships at UT would've made this a no-brainer. However, I'm looking at $18,000 for my first year, and ~$10,000 for the next three as I will live at home.

Texas state medical schools seem to run at about $15,000 tuition and fees, but with COL, it's about ~$35,000 for the COA (according to MSAR '10-'110).
TOTAL COST: 18+10*3 + 35*4 + 15 (misc, inflation, etc.) = $203,000

c) *Wild Card - Ivy League school (if admitted) -> Texas state Medical School (+ Baylor): This would depend on the financial aid package I get, but the cost would probably be $220,000 total.

Of course, there are other meds to consider out of state, but for now it makes sense to compare these options because if I do choose an out of state med that is super expensive, then these fine differences in costs are thrown out the window.

Basically, my question is, why is the cost of living at these Texas medical schools so much? It's around $25,000 at each, with UT-MB and UT-SW being slightly less at around $20,000. This would be a no brainer for me to go to UT and try to get into Baylor, UT-Southwestern, UT-Houston, UT-MB if it weren't for the costs of living irritating me. Are these costs inflated, or is it just me?

(Another thing I'm scared of is throwing away the BS-MD guarantee, but the avg. matriculant to a Texas state med is 3.68 and 30, so it's not so far off the 3.5 and 30 that Wayne wants, so I'm not too worried about that. I mean to say, if I get that 3.5 and 30, I'd at least have a shot at a Texas state med)

MedStart provides a Presidential Scholarship (ie. 4,300 a semester... covers full time).

 

[Earl Simmons]

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[sciencebooks]

Yes, MedStart provides the Presidential, but that is just full tuition, which is what I considered. But, I think I'd want to stay on campus during the four years, and if I stay at home, I'd want to buy a car 🙂. The main draw for MedStart for me is the group of 15 students and basically all of them stay on campus. I think not staying on campus would defeat the purpose of MedStart, so I didn't consider living at home if I were to attend MedStart.

I was also not National Merit because of my dismal PSAT score, so I am not eligible for the University Scholarship at Wayne State (full ride).

EDIT: I don't mind staying at home if I were to attend UT because the city near the campus is very much integrated into the school and I believe that I will still get a great college experience. Alternatively, I will apply for an RA position at UT Austin after my freshman year and if accepted, I will stay on campus all four years.

Ah, gotcha about living on campus. You're right that they pretty much all do. You could always try the RA route there as well. If you get into MedStart, I think having the reassurance of an acceptance is appreciated (plus, the non-binding part gives you future options).

 

[LizzyM]

Life costs money: rent, utilities including internet access & phone, food, toiletries and other products that get used up and need to be replaced, health insurance (once you are too old to be on your parents policy, or if you don't have parents with a policy),clothing, laundry, transportation, leisure time activities, home furnishings, and in some cases: renters insurance, car insurance, etc. Plus: books, apps, school/office supplies, computer/printer & accessories plus software.

 

[texahn]

if you drink beers at the bar it costs a lot more than if you had bought the case from the grocery store and were drinking it at home.

you can apply for scholarships after your first year at UT. honestly, i have no regret about ut austin. you really cant lose here.

 

[Earl Simmons]

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[mmmcdowe]

With or without coffee expenses?

 

[slatermd]

With or without coffee expenses?

For real. I pay more for coffee than I do for electricity on a monthly basis.

 

[mmmcdowe]

For real. I pay more for coffee than I do for electricity on a monthly basis.

Dude it's not even funny, until I discovered this all you can drink coffee shop next to my job I was paying at least 150 a month. Now I'm down to a much more manageable $70

 

[slatermd]

Dude it's not even funny, until I discovered this all you can drink coffee shop next to my job I was paying at least 150 a month. Now I'm down to a much more manageable $70

I had to take extreme measures as well, pretty much only brewing at home to keep cost down. All you can drink coffee shop? I gotta get me one of those.

 

[LizzyM]

The estimate is usually related to the maximum a student may borrow through the school's financial aid office... you may be able to get by with less. However, take a look at what you would pay in each place... what is the cost of room & board at the school or rent/utilities/food living off campus plus furnishings, also electronics, transportation (will you need a car, gas, oil changes, auto insurance, etc or will you be able to use public transportation? also cost of travel "home" for holidays or emergencies), clothing & laundry, entertainment/leisure/gym membership? Health insurance including co-pays, deductable, and out-of-pocket expenses for over-the-counter products. You may need to travel to conferences, organization meetings, volunteer activities.

 

[Spin]

You really don't know what your total debt will be for any med school until you get your financial aid package there. You might wind up being eligible for a great scholarship or a ton of financial aid at a place you didn't even think you'd get into. I've heard that Ivy League schools offer a lot of financial assistance even though people usually think "private school --> crazy debt." Just apply to places that you like, submit FAFSA early, and apply for school-specific scholarships as soon as you're eligible.