- Joined
- Oct 18, 2006
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Okay, I hope you guys can shed some insight. I searched the forums but was unable to find any post related to my question. As it stands right now, I have around $50,000 in loans, which come from 1 year studying abroad in Japan and then two years of grad school following that year. I know it sucks huh, but it is what it is! Anyways, Ive started looking in to maybe doing an SMP do help strengthen my med school application. Most of the programs Ive been looking at such as Midwestern, Drexel, Wake Forest, Boston University etc. all cost somewhere in the 20k-30k range for the 1 year of the program. I found out today that the most a med student can borrow is 138k. Is this true? I know there are plenty of students who start med school with significant debt i.e expensive undergrad and/or grad schools. According to my math if I already have 50k in debt and the max amount is 138k then that leaves 80k-90k left to borrow for the 1 year SMP program (wherever that is) and then 4 years of medical school.
Im 34 and have no one to help me with $$, will not be able to find a cosigner, and my credit is well lets say, not that great. How do people who already have 50k+ in debt before they start med school pay for EVERYTHING? I keep hearing about people graduating med school with 250k in debt give or take. Im not discouraged about having a crap load of debt post residency, because Im single and plan to stay that way, dont want to have children and am totally okay with living like a resident for a few years when Im an attending. I feel really good about being able to get in to an SMP somewhere and the subsequently admitted to med school. I dont mind getting a bit shafted with interest rates etc, but is there any advice to someone like myself who is a) already in a good amount of debt and b) who has no cosign option and bad credit? Isnt there someone who realizes that lending to a med student is a good idea, because they know they will get there money back plus some? Looking forward to your advice and thanks everyone for taking time out of your busy schedules to answer my question. I really appreciate it!
Im 34 and have no one to help me with $$, will not be able to find a cosigner, and my credit is well lets say, not that great. How do people who already have 50k+ in debt before they start med school pay for EVERYTHING? I keep hearing about people graduating med school with 250k in debt give or take. Im not discouraged about having a crap load of debt post residency, because Im single and plan to stay that way, dont want to have children and am totally okay with living like a resident for a few years when Im an attending. I feel really good about being able to get in to an SMP somewhere and the subsequently admitted to med school. I dont mind getting a bit shafted with interest rates etc, but is there any advice to someone like myself who is a) already in a good amount of debt and b) who has no cosign option and bad credit? Isnt there someone who realizes that lending to a med student is a good idea, because they know they will get there money back plus some? Looking forward to your advice and thanks everyone for taking time out of your busy schedules to answer my question. I really appreciate it!