Dream School vs. Cheaper (by 100k) -- both top ten. Advice from residents (and others) appreciated

[Member105829]

Hi everyone,

I created a new account to post this question in order to maintain anonymity. I've asked all my personal friends and family for advice, and at this point, am hoping I can gain more feedback from the SDN community.

I have been extremely fortunate this application cycle and am incredibly grateful for all the help I have received along the way. I now face the difficult decision of choosing between two great schools, one of which I received a half-tuition merit scholarship from, and one of which I was accepted off the waitlist from and will have to pay the full cost of attendance.

These are both top 10 schools -- I don't want to post the names because I feel that I would have equal opportunities at both schools. The question I'm struggling with is this: is it worth the extra $100,000 to attend my dream school? How will this amount of money impact my life when I am in my last year of residency and planning to have children?

For the purpose of this thread, I'll call the two schools "A" and "B". To keep things simple:

"A": Half-tuition merit scholarship of $25,000 per year = $100,000 over four years. I will borrow the rest using federal unsubsidized loans (5.4% interest).

"B": My dream school, for significant personal (family) reasons and others. I will have to borrow the full cost of attendance (~$80,000 per year) using federal unsubsidized loans (5.4% interest).

I am going to live very frugally during medical school regardless of where I go; I am more concerned about the debt I will have to repay 10-15 years down the road while starting a family and wanting to save for my children's educations, etc.

Using the loan calculator in FinAid.org, assuming a 10 year repayment period, I have estimated:
"A" will cost ~$300,000
"B" will cost ~$450,000

These are most likely underestimates and the fact that I will be repaying the loans with after-tax income would make the $150,000 difference even larger.

I have talked to many medical students who will graduate with significant debt, and while I have found their advice helpful, they ultimately are not "feeling" the burden of their debt yet. This is why feedback from Residents and Attendings would be especially helpful to me.

I'd greatly appreciate any thoughts that the SDN community would be willing to share. Thank you in advance.

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[DokterMom]

Some points to consider:

• You were accepted by your dream school -- Will that be enough of a 'consolation prize' if you decide to go with the cheaper option?
• The monthly payment difference between the two options will be over $1,000 per month for 10 years. Even on a high salary, that difference is big enough to be felt. (What kind of car could you buy for those payments?)
• Most importantly though, how did you feel at each school? They're both 'top 10' you say, so there's really very little 'quality difference' between the two. Did school B feel that much more like 'home'? Or is it that much more prestigious?

Good Luck

 

[lmn]

Unfortunately with the information you provided, it is very clearly choice A. Equally high ranked schools = no real difference in opportunities down the line unless one seats into a very specific residency opportunity that you already know you want. No mention of one school feeling great and at home at, and the other not so much. The $150k difference is something you can pay off, but saving it will make a big difference down the line. You didn't elaborate on your personal reasons, so nobody knows how substantial they are, so unfortunately this looks like a decision only you can make since besides your personal reason, the answer seems to be very clearly the cheaper yet equally good option.

 

[ChiDO]

The calculator is useless because you more then likely will not use a 10 year repayment plan. Right now IRB is the way to go (however it may get changed in the future.). $150k is definitely a lot of money and thus a no brainer for me; given the fact that both schools are in the "top 10."

The residency you choose will be based on your work ethic at school and your ability to achieve good USMLE scores and good grades. Both schools will have "great connections" so that point is very moot.

I went to a DO over an MD school with my total debt under $100k vs being over $200k. I was able to gain the residency of my choosing in a very competitive field (ortho). Is there a chance that certain events over the last 6 years may have been different if I choose a different school, obviously yes, but I have no regrets.

TLDR: CHEAP SCHOOL ALWAYS

 

[Member105829]

Thank you so much for the quick and very helpful responses!

Imn: to elaborate on my personal reasons, school "B" would allow me to be much much closer to my family (parents and brothers), whom I am very close to. It would also allow me to live within 15 minutes of my significant other whom I have been dating for five years (since high school) and am likely to marry in the future.

DokterMom: even outside of my personal reasons, school "B" did feel more like home to me. I felt more comfortable both with the students and the city. That being said, removing external personal factors, I could see myself being very happy at both schools. I think "B" would be considered slightly less prestigious than "A", but that doesn't really matter to me.

ChiDO: Did you mean IBR (not IRB?) And I definitely agree that school choice does not determine residency--it's more about how well you do at the school that you're at.

 

[lmn]

Thank you so much for the quick and very helpful responses!

Imn: to elaborate on my personal reasons, school "B" would allow me to be much much closer to my family (parents and brothers), whom I am very close to. It would also allow me to live within 15 minutes of my significant other whom I have been dating for five years (since high school) and am likely to marry in the future.

I think you really have to think about if you will be ok being further from your support system and if you can make it work with your SO (either by him/her following you, or long distance) or if you want to choose risking going for the long term with the SO at the concrete, substantial loss of $$$$. Everyone's relationships are different and their priorities, many here would go with the more long-term, surefire benefit of the decreased cost, but a good amount of others would either need their support system, or choose to take the chance on their SO over the cost. This honestly is a choice only you can make.

 

[Member105829]

Some points to consider:

• You were accepted by your dream school -- Will that be enough of a 'consolation prize' if you decide to go with the cheaper option?
• The monthly payment difference between the two options will be over $1,000 per month for 10 years. Even on a high salary, that difference is big enough to be felt. (What kind of car could you buy for those payments?)
• Most importantly though, how did you feel at each school? They're both 'top 10' you say, so there's really very little 'quality difference' between the two. Did school B feel that much more like 'home'? Or is it that much more prestigious?

Good Luck

Even outside of my personal reasons, school "B" did feel more like home to me. I felt more comfortable both with the students and the city. That being said, removing external personal factors, I could see myself being very happy at both schools. I think "B" would be considered slightly less prestigious than "A", but that doesn't really matter to me.

 

[mmmcdowe]

moving to ssd forum

 

[Member105829]

I think you really have to think about if you will be ok being further from your support system and if you can make it work with your SO (either by him/her following you, or long distance) or if you want to choose risking going for the long term with the SO at the concrete, substantial loss of $$$$. Everyone's relationships are different and their priorities, many here would go with the more long-term, surefire benefit of the decreased cost, but a good amount of others would either need their support system, or choose to take the chance on their SO over the cost. This honestly is a choice only you can make.

That's very true. Right now I know how things will be different in terms of my SO and the support of my family, but am just unsure of how that much money will impact my life down the road --it's mind boggling to me without even having taken out a loan yet.

 

[ace12345]

First of all, congrats. You're in a good spot. Here's how I see it:

My dream car is a Ferrari (My SDN name, in fact, is an ode to Enzo Ferrari). I would really pay a lot for this Ferrari. Perhaps you would too. As you discuss the situation, however, it appears that though you clearly want this Ferrari, you already have the keys to another Italian luxury car, a Maserati. The Maserati is an equally nice - or even nicer - car to the Ferrari. It's also 100K cheaper, and that's before interest. Can you reasonably pick the Ferrari? Both cars are going to get you where you need to be. Both are very quality vehicles.

100K is a lot of money, particularly as I have to assume you will need to borrow much of that at the Grad Plus rate with its high origination fees and interests. I'm not sure what your family is saying and they clearly mean a lot to you, but school A seems the obvious choice here.

 

[Member105829]

First of all, congrats. You're in a good spot. Here's how I see it:

My dream car is a Ferrari (My SDN name, in fact, is an ode to Enzo Ferrari). I would really pay a lot for this Ferrari. Perhaps you would too. As you discuss the situation, however, it appears that though you clearly want this Ferrari, you already have the keys to another Italian luxury car, a Maserati. The Maserati is an equally nice - or even nicer - car to the Ferrari. It's also 100K cheaper, and that's before interest. Can you reasonably pick the Ferrari? Both cars are going to get you where you need to be. Both are very quality vehicles.

100K is a lot of money, particularly as I have to assume you will need to borrow much of that at the Grad Plus rate with its high origination fees and interests. I'm not sure what your family is saying and they clearly mean a lot to you, but school A seems the obvious choice here.

Thank you--as you said, I am in a good spot, and I'm very grateful just to be in the position to make this decision.

You're right that I will have to borrow using the Graduate Plus loans after maxing out the Stafford loans. My family is very supportive of my decision either way, but overall understandably think that school "A" is the better choice for financial reasons.

Thank you again for sharing your thoughts!

 

[chenzt]

Interest rate is going to be ~6.1% for the first 40k (stafford) and ~7.1% (grad plus) for the rest of the cost in 2014-2015, and then probably 1% increase per year thereafter. Also include 1% origination fee for stafford and 4% for PLUS. The best guesstimate for blended interest is ~7.8% for school A and ~8.0% for school B. Plug those numbers in your calculation and see how much more school B is.

Don't forget that interest accrues during the years you are in school and possibly residency as well if you were to put it on forbearance/paying less than the rate at which interest accrues.

Stafford loan = 10 year treasury rate + 3.6%
Grad PLUS = 10 year treasury rate + 4.6%
Today's 10 year treasury rate = 2.54%
Loan rate is reset sometime in June every year.

Since treasury rate goes hand in hand with federal fund rate, which is currently at 0%, so it has nowhere to go but up, thus it will bring along the stafford/plus loan interest rate in the future.

 

[mvenus929]

Have you received financial aid applications from both schools (even if school B doesn't give you a merit scholarship, they may have other need-based scholarships or grants available to you)? Have you looked into the cost of living at each location (do you really need to max out your loans to live there? My COA was also about 80K per year, but I never maxed it out) How important is the support of your family to you, and how far is school A from these supports? My dad only lives 4 hours away, but I hardly ever see him, and most of my classmates would say something similar.

I went with the more expensive option. But, my more expensive option also had a higher rank, better resources, happier students and a curriculum I liked a heck of a lot more, so it was a relatively easy choice to make. For you, it sounds like the more expensive option is closer to your family and SO, and you may be slightly happier there. Is that worth the extra 150K in the end? Only you can answer that.

 

[Member105829]

Have you received financial aid applications from both schools (even if school B doesn't give you a merit scholarship, they may have other need-based scholarships or grants available to you)? Have you looked into the cost of living at each location (do you really need to max out your loans to live there? My COA was also about 80K per year, but I never maxed it out) How important is the support of your family to you, and how far is school A from these supports? My dad only lives 4 hours away, but I hardly ever see him, and most of my classmates would say something similar.

I went with the more expensive option. But, my more expensive option also had a higher rank, better resources, happier students and a curriculum I liked a heck of a lot more, so it was a relatively easy choice to make. For you, it sounds like the more expensive option is closer to your family and SO, and you may be slightly happier there. Is that worth the extra 150K in the end? Only you can answer that.

I have looked into the financial aid packages at both schools and will be completely dependent on unsubsidized federal loans for both schools. What's making this difficult is that I only really know one side of the equation in this decision. I've been away from my family and SO for 4 years in undergrad, so I know how this will impact my life as a medical student. What I don't know is the money part--how will the $150K impact my life 15 years from now?

Thank you everyone for your thoughtful responses!

 

[Member 0922]

I have looked into the financial aid packages at both schools and will be completely dependent on unsubsidized federal loans for both schools. What's making this difficult is that I only really know one side of the equation in this decision. I've been away from my family and SO for 4 years in undergrad, so I know how this will impact my life as a medical student. What I don't know is the money part--how will the $150K impact my life 15 years from now?

Thank you everyone for your thoughtful responses!

I don't know... I might be the only one who thinks this, but I would want to be closer to my family & my SO, even if it's more expensive.

 

[snowflakes]

Did you ask if School B would consider matching School A's scholarship?

 

[mvenus929]

What I don't know is the money part--how will the $150K impact my life 15 years from now?

That really depends on your attitude about money. Are you the frugal type who will pay off loans ASAP even if it means living as a resident for a couple extra years? That extra 100K in principle will cost you about $1200 per month down the road, on top of probably $2K-3K already. Less if you opt for the 25 years of payments, but that means you'll be saddled with the debt for longer. Seeing the money leave your account, just barely out of reach, for months on end may be discouraging to you. You can certainly put that money to better use--a retirement plan, college fund for any future kids you have, a house, etc. It may not be something that impacts you directly, depending on what specialty you go into (you may make enough to live very comfortably without it, or have enough support from your spouse that it doesn't matter), but the psychological impact of that money may take its toll.

 

[sobored]

Will you have any kind of regret down the line if you don't go to the dream school? Any "what if" moments? I may be in the minority here, but with that much debt anyways, just chase your dream. You'll be a slave to uncle sam either way, might as well make yourself as happy as possible in the meantime.

 

[Member105829]

Did you ask if School B would consider matching School A's scholarship?

I did. The response was not explicit, but from how I interpreted the message, it seems like there is an extremely low chance I will receive any merit aid whatsoever from school B.

 

[Member105829]

That really depends on your attitude about money. Are you the frugal type who will pay off loans ASAP even if it means living as a resident for a couple extra years? That extra 100K in principle will cost you about $1200 per month down the road, on top of probably $2K-3K already. Less if you opt for the 25 years of payments, but that means you'll be saddled with the debt for longer. Seeing the money leave your account, just barely out of reach, for months on end may be discouraging to you. You can certainly put that money to better use--a retirement plan, college fund for any future kids you have, a house, etc. It may not be something that impacts you directly, depending on what specialty you go into (you may make enough to live very comfortably without it, or have enough support from your spouse that it doesn't matter), but the psychological impact of that money may take its toll.

I am definitely the frugal type and will make every effort to pay off my loans as soon as possible. You raise a good point about the psychological toll of debt (in addition to more concrete things like buying a house, saving for childrens' college educations, etc.)

 

[Member105829]

Will you have any kind of regret down the line if you don't go to the dream school? Any "what if" moments? I may be in the minority here, but with that much debt anyways, just chase your dream. You'll be a slave to uncle sam either way, might as well make yourself as happy as possible in the meantime.

You're right--even with the scholarship at school A, I will still have to take out over $200K in loans.

The one regret I might have if I don't attend my dream school is really centered around personal relationships, which are very important to me. In the future, if I go to school A and my relationships with these people aren't as strong as I hoped they would be, I would probably always be asking myself "would they be stronger if I had attended school B?"

 

[Selah]

If you really are likely to marry your SO, then being near your SO should be worth $100,000. (Remember you will soon be earning a physician's salary, so down the line you could very well have regrets if you lose this relationship because of distance.)

 

[rkaz]

How far is the cheaper school from your partner and family?

 

[Member105829]

How far is the cheaper school from your partner and family?

Within driving distance, but still significantly far away. It would be pretty difficult to drive unless I had an extended weekend (otherwise I would spend the bulk of it driving).

 

[PD2014]

Without more information (the names of the schools), it's difficult to say, and like someone above posted, only you can figure out if the proximity/dream school status is worth it.

 

[Member105829]

Without more information (the names of the schools), it's difficult to say, and like someone above posted, only you can figure out if the proximity/dream school status is worth it.

Definitely true--only I can decide what is worth it to me. I left the names of the schools out of the post because I've already decided that professionally, both schools are great for me, and I didn't want to open up any debates about which school is better for X specialty/residency placement, more prestigious, etc. I'm just trying to better understand how the difference in cost might impact my/my family's life 10 years from now.

Thank you again for the responses!

 

[QofQuimica]

Go to the cheaper school. Halfway through your intern year when the loans come due, nothing else you're thinking about right now will still be affecting your life outside of the debt you accumulate in the next four years. If you're looking to start a family as a resident, that financial impact is going to be even bigger.

Your personal relationships will require significant work and investment regardless of where you're living; there's a reason why so many physicians get divorced or break up even when they live together with their spouses/partners. And actually, it may be better for your studies if you can't go running home every weekend; this ain't college any more, and you will likely need to spend many of your weekends studying rather than driving back and forth to your home town every week. There's also no reason why your partner/family can't come visit you every now and then. Presumably they're not in med school and can spare some time to drive out to see you.

P.S. One other small piece of unsolicited advice from someone old enough to be your mom: until you have that ring on your finger, don't be too quick to go planning your future around this relationship. And even then, proceed carefully. I was engaged to my ex at age 20, too. But people can change a lot at your stage of life, and you may find that you grow apart and develop different goals over time (which is what happened to us). For sure what I want out of a relationship at age 40 is very different than what I wanted at age 20.

Congrats on your acceptances, and best of luck to you.

 

[lmn]

Go to the cheaper school. Halfway through your intern year when the loans come due, nothing else you're thinking about right now will still be affecting your life outside of the debt you accumulate in the next four years. If you're looking to start a family as a resident, that financial impact is going to be even bigger.

Your personal relationships will require significant work and investment regardless of where you're living; there's a reason why so many physicians get divorced or break up even when they live together with their spouses/partners. And actually, it may be better for your studies if you can't go running home every weekend; this ain't college any more, and you will likely need to spend many of your weekends studying rather than driving back and forth to your home town every week. There's also no reason why your partner/family can't come visit you every now and then. Presumably they're not in med school and can spare some time to drive out to see you.

P.S. One other small piece of unsolicited advice from someone old enough to be your mom: until you have that ring on your finger, don't be too quick to go planning your future around this relationship. And even then, proceed carefully. I was engaged to my ex at age 20, too. But people can change a lot at your stage of life, and you may find that you grow apart and develop different goals over time (which is what happened to us). For sure what I want out of a relationship at age 40 is very different than what I wanted at age 20.

Congrats on your acceptances, and best of luck to you.

^This imo. I have seen so many strong relationships fail when one of them entered med school, despite their best talks about how they are going to try hard, and how they know what it will be like and how challenging it will be. The fact is you can't prepare your relationship for how great of an impact it will have, you will be working so hard and so stuck having to study and do work (esp after 1st year, not to mention 3rd year) that you would be nearly completely unavailable to your SO much of the time even if you lived together. Not to mention when you are burnt out and frustrated how you may often feel like your SO can't really understand your problems, and your SO may feel like you're distant and possibly even a completely different person from before med school. It really sucks for both people and isn't necessarily the fault of either of the individuals, med school just really challenges relationships in ways and intensities that most relationships wouldn't face all at the same time.

Of course this doesn't mean it can't be done, plenty of people make it through your situation, but I personally wouldn't recommend you put yourself into that much increased financial burden for something that is just a maybe. Like Quimica said, you aren't even married yet.

You mention a decent drive it seems, but realistically you aren't going to have much/if any time or energy to be making any commute back and forth to school/hospital as you get into med school. Look at how many people can't bear living more than a few minutes commute from either their school or clinical sites, it is so much more of a big deal that it is currently. And like what was previously stated, you aren't really going to have the time to consistently be with your SO or family very much beyond portions of 1st year and maybe 4th year. It's a substantial trade for most likely not all that much more time together.

 

[Member105829]

Go to the cheaper school. Halfway through your intern year when the loans come due, nothing else you're thinking about right now will still be affecting your life outside of the debt you accumulate in the next four years. If you're looking to start a family as a resident, that financial impact is going to be even bigger.

Your personal relationships will require significant work and investment regardless of where you're living; there's a reason why so many physicians get divorced or break up even when they live together with their spouses/partners. And actually, it may be better for your studies if you can't go running home every weekend; this ain't college any more, and you will likely need to spend many of your weekends studying rather than driving back and forth to your home town every week. There's also no reason why your partner/family can't come visit you every now and then. Presumably they're not in med school and can spare some time to drive out to see you.

P.S. One other small piece of unsolicited advice from someone old enough to be your mom: until you have that ring on your finger, don't be too quick to go planning your future around this relationship. And even then, proceed carefully. I was engaged to my ex at age 20, too. But people can change a lot at your stage of life, and you may find that you grow apart and develop different goals over time (which is what happened to us). For sure what I want out of a relationship at age 40 is very different than what I wanted at age 20.

Congrats on your acceptances, and best of luck to you.

This great advice and exactly what I needed--thank you. I definitely am not planning on marrying anytime soon (I've always thought later is better), but still want to continue investing in my relationship with my SO. We've been apart for 4 years, both at rigorous schools and in rigorous majors, so being close to one another is not only important to us so that we can be happier, but also so that we can have a more normal relationship for a while. We've both changed in college (and as you've said, we both will continue to change) and I think that some of these changes can only be fully realized if you're spending "normal" time with the person--seeing them more than once a semester, in person, around other people/with a group of friends, etc.

 

[Member105829]

^This imo. I have seen so many strong relationships fail when one of them entered med school, despite their best talks about how they are going to try hard, and how they know what it will be like and how challenging it will be. The fact is you can't prepare your relationship for how great of an impact it will have, you will be working so hard and so stuck having to study and do work (esp after 1st year, not to mention 3rd year) that you would be nearly completely unavailable to your SO much of the time even if you lived together. Not to mention when you are burnt out and frustrated how you may often feel like your SO can't really understand your problems, and your SO may feel like you're distant and possibly even a completely different person from before med school. It really sucks for both people and isn't necessarily the fault of either of the individuals, med school just really challenges relationships in ways and intensities that most relationships wouldn't face all at the same time.

Of course this doesn't mean it can't be done, plenty of people make it through your situation, but I personally wouldn't recommend you put yourself into that much increased financial burden for something that is just a maybe. Like Quimica said, you aren't even married yet.

You mention a decent drive it seems, but realistically you aren't going to have much/if any time or energy to be making any commute back and forth to school/hospital as you get into med school. Look at how many people can't bear living more than a few minutes commute from either their school or clinical sites, it is so much more of a big deal that it is currently. And like what was previously stated, you aren't really going to have the time to consistently be with your SO or family very much beyond portions of 1st year and maybe 4th year. It's a substantial trade for most likely not all that much more time together.

A good friend who's an MS1 once referred to something called the "Turkey Drop"--the time right around Thanksgiving when a lot of relationships in med school end. Fortunately for me, my SO worked even harder than I did as an undergrad, so she definitely understands what it's like to have a ton of work and be under tremendous stress.

I definitely get that I won't be seeing my family or SO every day as a medical student. Still, being able to see them in person once every two or three weeks would mean a lot to me.

Hopefully by some miracle school B will come through with money!

 

[byaaaaaaah23]

It sounds like school B is really where your heart lies. Seems like there a lot of potential regrets to choosing school A, but the only regret you might have about school B is the extra money it will cost. I say follow your heart, since being happy in med school will go a long way towards contributing to your success. Regardless of where you go, you'll be paying off loans for a significant period of time afterward, so might as well make an investment you're more excited about.

 

[snowflakes]

Puntil you have that ring on your finger, don't be too quick to go planning your future around this relationship.

Unfortunately, this is key. What does your SO say? Did he/she say to pick finances over distance or does he/she prefer you're closer to home? Is he/she willing to move closer to you to save money? Have you talked about marriage together? If you do end up getting married, the extra $150k is something you'd be paying off together.

 

[ace12345]

Unfortunately, this is key. What does your SO say? Did he/she say to pick finances over distance or does he/she prefer you're closer to home? Is he/she willing to move closer to you to save money? Have you talked about marriage together? If you do end up getting married, the extra $150k is something you'd be paying off together.

I think QofQuimica pretty much got it, but I do want to draw attention that we really shouldn't be talking about the 150K number here. We should be talking about 450K, and size matters. Yes the difference is 150K, and if this was a case of 0 versus 150K it would possibly make sense to go with school B. But 300K in loans? That's already absurd. 450K could be legitimately crippling. We're talking about a fairly sizable mortgage at a bad interest rate. Just something to keep in mind.

 

[lmn]

I think QofQuimica pretty much got it, but I do want to draw attention that we really shouldn't be talking about the 150K number here. We should be talking about 450K, and size matters. Yes the difference is 150K, and if this was a case of 0 versus 150K it would possibly make sense to go with school B. But 300K in loans? That's already absurd. 450K could be legitimately crippling. We're talking about a fairly sizable mortgage at a bad interest rate. Just something to keep in mind.

OP I would definitely recommend using excel to project not only what your overall debt will be, but how much it will be year to year and how much a timely repayment is going to cost you month to month. I recommend then choosing a few different specialties' salaries across the spectrum and calculate a repayment plan and living money. If you did this, you would likely see how staggering the cost is for either school in the long run, and how it will affect your ability to buy a house or start a family, and how choosing school B for the short run may actually affect you in the long run compared to school A, as well as possibly affect your specialty choice even.

 

[Member105829]

Unfortunately, this is key. What does your SO say? Did he/she say to pick finances over distance or does he/she prefer you're closer to home? Is he/she willing to move closer to you to save money? Have you talked about marriage together? If you do end up getting married, the extra $150k is something you'd be paying off together.

My SO wants me to go where I'll be happiest. We have talked about marriage, and both agree that it is best to wait until we are older (basically it won't be happening anytime soon).

 

[Member105829]

OP I would definitely recommend using excel to project not only what your overall debt will be, but how much it will be year to year and how much a timely repayment is going to cost you month to month. I recommend then choosing a few different specialties' salaries across the spectrum and calculate a repayment plan and living money. If you did this, you would likely see how staggering the cost is for either school in the long run, and how it will affect your ability to buy a house or start a family, and how choosing school B for the short run may actually affect you in the long run compared to school A, as well as possibly affect your specialty choice even.

Good suggestion, I'll go ahead and try to do this. The long run is what I'm most concerned about.

 

[mmmcdowe]

Go to the cheaper school. Halfway through your intern year when the loans come due, nothing else you're thinking about right now will still be affecting your life outside of the debt you accumulate in the next four years. If you're looking to start a family as a resident, that financial impact is going to be even bigger.

Your personal relationships will require significant work and investment regardless of where you're living; there's a reason why so many physicians get divorced or break up even when they live together with their spouses/partners. And actually, it may be better for your studies if you can't go running home every weekend; this ain't college any more, and you will likely need to spend many of your weekends studying rather than driving back and forth to your home town every week. There's also no reason why your partner/family can't come visit you every now and then. Presumably they're not in med school and can spare some time to drive out to see you.

P.S. One other small piece of unsolicited advice from someone old enough to be your mom: until you have that ring on your finger, don't be too quick to go planning your future around this relationship. And even then, proceed carefully. I was engaged to my ex at age 20, too. But people can change a lot at your stage of life, and you may find that you grow apart and develop different goals over time (which is what happened to us). For sure what I want out of a relationship at age 40 is very different than what I wanted at age 20.

Congrats on your acceptances, and best of luck to you.

Strongly agree with this, also had an engagement fall through during/because of medical school.

 

[termitechips]

So what were the schools and what ended up happening, OP??

 

[Member105829]

So what were the schools and what ended up happening, OP??

I'd rather not identify the schools. But in the end, I was extraordinarily lucky to receive very generous merit aid from school "B", and will be matriculating there.

Thank you to everyone who offered advice in this thread; I'm sure that it will greatly help others in the future who might find themselves in a similar situation regarding school choice and debt.

 

[ace12345]

I'd rather not identify the schools. But in the end, I was extraordinarily lucky to receive very generous merit aid from school "B", and will be matriculating there.

Thank you to everyone who offered advice in this thread; I'm sure that it will greatly help others in the future who might find themselves in a similar situation regarding school choice and debt.

Congrats! This thread should definitely go to show people that making decisions prior to hearing about financial aid is not a good call. Things change, particularly at institutions that have the money to provide aid.