Financing Pharmacy Schools

[lavenderhearts]

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This thread is for current pharmacy students to answer pre pharmacy students questions about financing pharmacy school, such as the price of apartments in the area, questions about loans and how to repay the loans. You can tell pre pharmacy students whether or not is staying on campus is a good or bad thing. Current pharmacy students can tell pre pharm students how they are able to have rooms and apartments etc....

 

[lavenderhearts]

I want to know if you don't work while in pharmacy school, how can you afford renting rooms or apartments and basically take care of yourself? Does the government give loans large enough to pay for pharmacy school and your living expense?

 

[dancingallday]

When you're in pharmacy school, there are two federal loans available to you: the Direct Unsubsidized, which covers $33,000 per year, and the GradPlus, which covers anything over that $33,000 up to estimated "cost of attendance". Basically, the GradPlus is what you'll take out if you need extra money for living expenses due to the fact that you're not working. It has a higher interest rate than the Direct Unsubsidized loan. As far as getting an apartment, most pharmacy students will have one or more roommates to try to keep expenses down. It's always advisable to "live cheap" and take out as little loan money as you possibly can.

Another thing to note is that pharmacy school isn't like undergrad, where students can often get a large portion of their tuition and living expenses paid via grants and scholarships, or even get a "full ride" based on academics or other qualities. There aren't any "full rides" in pharmacy school, since at this point the playing field has been leveled. Any scholarships you do get are likely to cover only a small fraction of your tuition, and often these are applied for at your school.

 

[lavenderhearts]

When you're in pharmacy school, there are two federal loans available to you: the Direct Unsubsidized, which covers $33,000 per year, and the GradPlus, which covers anything over that $33,000 up to estimated "cost of attendance". Basically, the GradPlus is what you'll take out if you need extra money for living expenses due to the fact that you're not working. It has a higher interest rate than the Direct Unsubsidized loan. As far as getting an apartment, most pharmacy students will have one or more roommates to try to keep expenses down. It's always advisable to "live cheap" and take out as little loan money as you possibly can.

Another thing to note is that pharmacy school isn't like undergrad, where students can often get a large portion of their tuition and living expenses paid via grants and scholarships, or even get a "full ride" based on academics or other qualities. There aren't any "full rides" in pharmacy school, since at this point the playing field has been leveled. Any scholarships you do get are likely to cover only a small fraction of your tuition, and often these are applied for at your school.

Thank you for that insight of paying for pharmacy school. What would be a better situation? Renting a room or getting your own apartment

 

[owlegrad]

I rented a room it worked well for me.

 

[pps38us]

Does everyone qualify for the GradPlus loan?

When you're in pharmacy school, there are two federal loans available to you: the Direct Unsubsidized, which covers $33,000 per year, and the GradPlus, which covers anything over that $33,000 up to estimated "cost of attendance". Basically, the GradPlus is what you'll take out if you need extra money for living expenses due to the fact that you're not working. It has a higher interest rate than the Direct Unsubsidized loan. As far as getting an apartment, most pharmacy students will have one or more roommates to try to keep expenses down. It's always advisable to "live cheap" and take out as little loan money as you possibly can.

Another thing to note is that pharmacy school isn't like undergrad, where students can often get a large portion of their tuition and living expenses paid via grants and scholarships, or even get a "full ride" based on academics or other qualities. There aren't any "full rides" in pharmacy school, since at this point the playing field has been leveled. Any scholarships you do get are likely to cover only a small fraction of your tuition, and often these are applied for at your school.

 

[lavenderhearts]

I rented a room it worked well for me.

Did you get along with your roommates? No one stole?

 

[Corpseman]

I thought this thread was about financing pharmacy schools.

 

[xtsukiyox]

I am jealous of the folks who live on campus. At my university, it's about the same, after utilities are considered, as living off campus in a modest apartment, even if you live by yourself. Some days, I really wish I could walk to go take a nap or skip the 20 min drive to school.

 

[xoxomons]

Do pharmacy school students qualify for the Health Professions Scholarship Program they have in the Air Force or something?

 

[lavenderhearts]

Do pharmacy school students qualify for the Health Professions Scholarship Program they have in the Air Force or something?

What is this program bc I've never heard of it. Do you mind telling me about it?

 

[tm79602]

What is this program bc I've never heard of it. Do you mind telling me about it?

It is a scholarship provided by the Air Force that they will pay for tuition, books, and I think will give you an allowance as well. I am not sure if they will pay for all of your tuition though. The kicker is that you owe the Air Force however many years that you received the scholarship. I am also not sure if time is doubled or not. So, if you used the scholarship for the entire 4 years of pharmacy school, you would have to enlist in the Air Force for either 4 years or 8 years. There are recruiters that could answer your question better.

 

[xoxomons]

It is a scholarship provided by the Air Force that they will pay for tuition, books, and I think will give you an allowance as well. I am not sure if they will pay for all of your tuition though. The kicker is that you owe the Air Force however many years that you received the scholarship. I am also not sure if time is doubled or not. So, if you used the scholarship for the entire 4 years of pharmacy school, you would have to enlist in the Air Force for either 4 years or 8 years. There are recruiters that could answer your question better.

I know that the HPSP can be used to pay for med school and nursing school, but whenever I've called a recruiter they just gave me the runaround and told me to call number after number after number.. so I just gave up

 

[tm79602]

I know that the HPSP can be used to pay for med school and nursing school, but whenever I've called a recruiter they just gave me the runaround and told me to call number after number after number.. so I just gave up

I am sorry....I would just wait until I get accepted into a program. There is usually a recruiter assigned to that particular pharmacy school (or med school or nursing program) that will give you more information about the scholarship. It is pretty much the jist that I told you. Good luck.

 

[deleted437652]

Do pharmacy school students qualify for the Health Professions Scholarship Program they have in the Air Force or something?

Navy has "Navy Health Services Collegiate Program (HSCP)"
http://www.navy.com/careers/healthcare/clinical-care/pharmacy.html near the bottom

 

[ExpressMaiL]

You will get through pharmacy school with loans. There are always loans available. The amount you will pay back, including the time it will take, will vary. Greatly.

 

[eskyesther]

Are there any scholarships for incoming pharmacy students? I searched and all I have found are scholarships for current pharm students in their 1st or 2nd year.

 

[africanpharmd14]

You don't have to rely on loans to cover living expenses. You can cover them if you work at least 2 days or nights a week. My brother is a nursing assistant making $14 bucks an hour; he works 2 nights a week, and he brings home $1200 a month. Its not much, but its better than watching those loans pile up.

 

[68quebec]

or this might be little too late to say, but save up the future expenses before you start schools... this wont cover 3-4 years of living but will help you a lot.

 

[Corpseman]

You don't have to rely on loans to cover living expenses. You can cover them if you work at least 2 days or nights a week. My brother is a nursing assistant making $14 bucks an hour; he works 2 nights a week, and he brings home $1200 a month. Its not much, but its better than watching those loans pile up.

Assuming 10% goes to taxes....that is two 12 hour shifts a week. Good luck!

 

[TooLittleToLate]

I am a career changer at 25 years old. I've always regretted not going to pharmacy school so I'm working on it now. However, I have an established career, a mortgage, life stuff...so is it impossible to work through pharmacy school? I'm applying to Samford in Alabama. I need to bring home a minimum of $1000/mo to keep my husband and I afloat. I know I could take out an extra $12,000 a year but school is already going to cost me $37,000 a year as is. Any advice?

 

[Kavina]

I am a career changer at 25 years old. I've always regretted not going to pharmacy school so I'm working on it now. However, I have an established career, a mortgage, life stuff...so is it impossible to work through pharmacy school? I'm applying to Samford in Alabama. I need to bring home a minimum of $1000/mo to keep my husband and I afloat. I know I could take out an extra $12,000 a year but school is already going to cost me $37,000 a year as is. Any advice?

I'm also a married career changer. I currently have a job as a pharmacy technician and my district pharmacy manager said I'll be able to transition to an intern pharmacist once I've been accepted and have the appropriate license. I know a lot of students have intern jobs. I only plan on working a couple days a week, probably around 8-10 hours max, but that will at least help a bit.

 

[nextgenpharmer]

Which license do you need to transition to an intern pharmacist?

 

[Kavina]

Which license do you need to transition to an intern pharmacist?

Intern pharmacist license, which you can typically apply for once you've enrolled in pharmacy school. At least in the beginning intern pharmacists perform a lot of the same duties as pharmacy technicians until they've gotten a bit more education under their belt and start feeling comfortable giving consultations.