So I'm choosing between a top 5 school (financial aid only loans) vs. a top 20 school (financial aid with $80,000 grant). Do you think the $80,000 makes a big difference?
So I'm choosing between a top 5 school (financial aid only loans) vs. a top 20 school (financial aid with $80,000 grant). Do you think the $80,000 makes a big difference?
So I'm choosing between a top 5 school (financial aid only loans) vs. a top 20 school (financial aid with $80,000 grant). Do you think the $80,000 makes a big difference?
So I'm choosing between a top 5 school (financial aid only loans) vs. a top 20 school (financial aid with $80,000 grant). Do you think the $80,000 makes a big difference?
Another picture to chew on...MSRP~$75,000
If you don't like that you could build a significant addition onto whatever house you buy for $80,000
Also, like the poster above said 80k turns into a lot more unless you pay it off right away. Seriously I don't understand why these questions ever come up. Do people really NOT realize how much money they're talking about?
What if you are choosing between a top 20 and a top 5, and there are other significant factors (unrelated to prestige, etc.) that are in favor of the top 5, more expensive school over the top 20? Factors such as curriculum (1 year basic sciences, 1 year research time at the top 5), location, etc. Would you still advise going to the top 20 in order to save money, or is there a point where it is worthwhile to take the added debt and go to the top 5?
I ask because I am in a similar situation...
No one can tell you if a more expensive school is worth x amount more $, because no one can place a value on, i.e., one curriculum vs. another. go where you want. only you can decide if it's worth it.
Factors such as curriculum (1 year basic sciences, 1 year research time at the top 5), location, etc. Would you still advise going to the top 20 in order to save money, or is there a point where it is worthwhile to take the added debt and go to the top 5?
So where do you want to do your residency? Your chances of getting a residency at the med school you go to are highest so maybe that can help you decide.
I would have to wholeheartedly disagree with the reasoning that things like curriculum or location even matter with the amount of money we're talking about here. I know theres lots of idealistic, romantic people on here who think that you should always go to "where you love" no matter how much it costs. That's a bunch of BS. If the difference was 10K over the four years (maybe even 20K) I'd factor in the other stuff. When you're talking about 80K and still being in a top 20 school though, that should really go out the window unless you're super rich and can pay that difference in cash.
For $80,000 (more like $100,000 when you're done paying off the loan) I'd go freeze my balls off for four years in Alaska. Seriously, don't be romantic and take the money. I know everyone who advises not to worry about the 80K thinks they're going to be rich and famous doctors so it won't matter, but once you start working you'll realize that 80K is nothing to sneeze at. Hell, that's your residency salary for 2 years in a lot of places. Think about that.
Regarding the residency question, no pre-med really knows where they want to do their residency. It's been said time and time again on SDN not to let any residency decisions affect your medical school decision because you have no idea what you'll be looking for by 4th year.
I would have to wholeheartedly disagree with the reasoning that things like curriculum or location even matter with the amount of money we're talking about here. I know theres lots of idealistic, romantic people on here who think that you should always go to "where you love" no matter how much it costs. That's a bunch of BS. If the difference was 10K over the four years (maybe even 20K) I'd factor in the other stuff. When you're talking about 80K and still being in a top 20 school though, that should really go out the window unless you're super rich and can pay that difference in cash.
For $80,000 (more like $100,000 when you're done paying off the loan) I'd go freeze my balls off for four years in Alaska. Seriously, don't be romantic and take the money. I know everyone who advises not to worry about the 80K thinks they're going to be rich and famous doctors so it won't matter, but once you start working you'll realize that 80K is nothing to sneeze at. Hell, that's your residency salary for 2 years in a lot of places. Think about that.
Regarding the residency question, no pre-med really knows where they want to do their residency. It's been said time and time again on SDN not to let any residency decisions affect your medical school decision because you have no idea what you'll be looking for by 4th year.
true...i was just wondering because everyone seems so vehemently opposed to going to the more expensive school if it means being in more debt.
so i guess i'll rephrase the question: If you were in the position to go to a more expensive school versus a less expensive school, but you preferred the more expensive school for other reasons (curriculum, location, etc.), which school would you choose?
Looks like you are deciding between Duke and elsewhere. I am in a similar boat. I might pass up Duke if I can go to the state school for 120k compared to Duke for 200K.
Consensus is clearly follow the money.
I would add one exception though. If the cheaper school is UCLA or UCSD I might go with the top 5 school, as the UCs (while still great schools) may not be such a bargain by the time you graduate.
Do you guys think there's ever a legit reason to turn down a full ride at a top 5 school? Like for a slightly higher-ranked top 5 school? I don't really think so but I keep meeting people who beg to differ.
Do you guys think there's ever a legit reason to turn down a full ride at a top 5 school? Like for a slightly higher-ranked top 5 school? I don't really think so but I keep meeting people who beg to differ.
Basically what I did. Recently withdrew from a top private school (not Duke) and will be attending my state school. This will save me about 60 to 80 thousand dollars.
Hardest decision of my life because I really loved the school I withdrew from, but I'm confident I can do well enough at my state school to get the residency/specialty I want (not planning on anything super competitive anyway).
With so much uncertainty within medicine and in this country's economic future in general, I figured I should try to minimize my debt as much as possible.
That's good to hear. It seems like a lot of people on this thread are speaking hypothetically rather than from experience, so I'm happy to see that someone else is making the same decision I'm planning on making. Thanks, and good luck!
Nope my man I did basically same thing. Turned down a $30,000/year scholarship from a top 10 school for a full ride from a top 20.
Thanks for sharing (and i'm not a man haha). Any other experiences, anyone?