First world problem

[Dash2021]

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I have a "problem". I've been accepted to schools A and B. School A is my #1 pick, due to having lived in the city before, having friends who can help with child care, and wife will be able to keep her job instead of looking for a new one (not currently living in this city, but it is about equadistant to her job from where we live now). School B is, and always has been, a distant second. Nothing to do with the school its self (medschool = Dr. for me), but due to the above conditions making A so much more attractive. Both are roughly equivilant in terms of rank and cost, and I'm currently holding seats at both.

However, I recently got a letter from B indicating a scholarship award worth 50% of tuition. The scholarship is renewable based on merit (top 50% of class). IF I qualified for all 4 years, it would translate into ~60k. However, moving means my wife looking for a new job, and so far that looks like it'll translate into about a 10k a year loss. Not to mention the lack of social connections to help with child care (parents will know just how big a deal reliable AND cheap childcare is).

Currenlty I'm leaning towards A still, but the Type-A anal retentive pre-med in me says that the scholarship represents a pretty huge opportunity. While I don't think staying in the top 50% would be an issue for retention of the scholarship, it is a concern as I am aware enough of med school to know I have no idea how I'll perform. I've done some napkin math and the scholarship really only outweighs the loss in income if I retain it for all 4 years (income loss will have to be offset by CoL loans).

Normally my answer is go wherever is the cheapest, afterall p=md. But I've had school B written off for so long I'm having trouble looking at the offer without a huge bias. Impartial advice would be great, particularly in terms of what that 60k loan translates into after interest over 10. I've done the math myself, but my algebra's so rusty I don't trust it enough to even post a rough estimate.

 

[ChartaBona]

Just go to school A and forget about B's finicky scholarship.

 

[GorillaPanic]

It sounds like if you go to school B, you'll always kinda regret not going to the other school you were always more excited about. I've heard many times from current Med students to go where you'll be happiest, and it sounds like that'll be school A for you.

I've been debating a similar situation myself, but in the end I think I'll go with the more expensive option as my next four years will be stressful enough as it is and I'll never get these years back. There is always time to pay off loans in the future, but these next years are pretty precious...

Just my thoughts

Sent from my DROID RAZR using Tapatalk 2

 

[Chip N Sawbones]

Call up school A and tell them that they're you're #1 choice, and you'd love to attend school there, but for financial reasons you'll have to go to school B. Ask them if there are any scholarships you qualify for or any way they can reduce tuition. They might want you enough to reduce the cost to a level close to school B.

 

[Dash2021]

Just go to school A and forget about B's finicky scholarship.

def what I'm leaning towards. I've got nothing but time on my hands till august though, so I just want to make sure I'm not missing something.

 

[Dash2021]

Call up school A and tell them that they're you're #1 choice, and you'd love to attend school there, but for financial reasons you'll have to go to school B. Ask them if there are any scholarships you qualify for or any way they can reduce tuition. They might want you enough to reduce the cost to a level close to school B.

Little worried about massive ego bruising if the response is "Cool story bro, have fun". I'm not a super competitive candidate, so I'm not sure how far that will go.

I think you're right though, it's worth a shot. BRB looking for big boy pants to put on.

 

[ChartaBona]

def what I'm leaning towards. I've got nothing but time on my hands till august though, so I just want to make sure I'm not missing something.

I feel like peace of mind and stability is worth more than the estimated 20k difference. Also you won't feel pressured to be in the top 50%. We all feel we're above average, but half of us are wrong. Pre-clinical grades don't matter at the school I'll be attending.

 

[IslandStyle808]

Little worried about massive ego bruising if the response is "Cool story bro, have fun". I'm not a super competitive candidate, so I'm not sure how far that will go.

I think you're right though, it's worth a shot. BRB looking for big boy pants to put on.

Just don't let school A know that you were offered a scholarship from school B. Indicate to school A that you are worried about the cost of attending and are wondering if there are any scholarships currently available or are there any future scholarship opportunities at their school.

 

[MedPR]

School A. 50% chance you'll lose the scholarship at School B anyway. Not saying you're dumb or anything, but considering you have a family to take care of and a spouse who works, you have a pretty significant obstacle that many of your classmates don't.

 

[MedPR]

Just don't let school A know that you were offered a scholarship from school B. Indicate to school A that you are worried about the cost of attending and are wondering if there are any scholarships currently available or are there any future scholarship opportunities at their school.

Why would you want to hide Scholarship B from School A? I would've thought to use it as leverage. "Dear School A, I'd really like to attend in August, but School B has offered me 50% tuition which makes their tuition X amount less than yours. While there are many things to consider when choosing a medical school, finances and loan repayment are important to me. Gimme some money or I'll shred your acceptance, I swear. Love, Dash 2021."

 

[Dash2021]

I feel like peace of mind and stability is worth more than the estimated 20k difference. Also you won't feel pressured to be in the top 50%. We all feel we're above average, but half of us are wrong. Pre-clinical grades don't matter at the school I'll be attending.

I think it's something like 75% of the population believes they're above avg. intelligence...

Peace of mind is a little hard to over estimate. My gut is saying A, so I definitely agree with the sentiment of the thread. Just wondering if there is even a case for B. Also, I'm bored at work and my patients are sleeping for once.

 

[airplanes]

A. 20k isn't worth the hassle, and you didn't even like that school/location as much.

 

[IslandStyle808]

Why would you want to hide Scholarship B from School A? I would've thought to use it as leverage. "Dear School A, I'd really like to attend in August, but School B has offered me 50% tuition which makes their tuition X amount less than yours. While there are many things to consider when choosing a medical school, finances and loan repayment are important to me. Gimme some money or I'll shred your acceptance, I swear. Love, Dash 2021."

I am kinda thinking along the lines of "Dear student X, screw you, we can easily replace you if you play this scholarship game with us. There are a lot of applicants that would dance naked and pay 10% extra just to get into school A." (not srs)

True it would give leverage but not much unless school B was a very prestigious school also. (srs)

 

[GorillaPanic]

School A. 50% chance you'll lose the scholarship at School B anyway. Not saying you're dumb or anything, but considering you have a family to take care of and a spouse who works, you have a pretty significant obstacle that many of your classmates don't.

Attaboy, those are some good points

Sent from my DROID RAZR using Tapatalk 2

 

[airplanes]

I am kinda thinking along the lines of "Dear student X, screw you, we can easily replace you if you play this scholarship game with us. There are a lot of applicants that would dance naked and pay 10% extra just to get into school A." (not srs)

True it would give leverage but not much unless school B was a very prestigious school also. (srs)

You're over thinking this.

It's worth a shot. If the answer is no, then it's no. They're not rescinding an offer because you asked if there's the possibility of more scholarship assistance.

FWIW I took out an extra 100k to be at a better school in my hometown. Recently matched into a competitive specialty. I regret nothing,

 

[IslandStyle808]

You're over thinking this.

Agree with you on that.

 

[MedPR]

I am kinda thinking along the lines of "Dear student X, screw you, we can easily replace you if you play this scholarship game with us. There are a lot of applicants that would dance naked and pay 10% extra just to get into school A." (not srs)

True it would give leverage but not much unless school B was a very prestigious school also. (srs)

Perhaps, lol. I'm under the impression that schools routinely get counter-offers from students who have financial packages elsewhere though so I don't think they'd be too offended. Now if you were telling Harvard to give you money because you got a full scholarship to Meharry.. well that might rustle some jimmies.

 

[IslandStyle808]

You're over thinking this.

It's worth a shot. If the answer is no, then it's no. They're not rescinding an offer because you asked if there's the possibility of more scholarship assistance.

FWIW I took out an extra 100k to be at a better school in my hometown. Recently matched into a competitive specialty. I regret nothing,

No.. No.. I just was making reference to school A will most likely not offer a scholarship that easily just by mentioning school B's offer. I just feel one might come off as a little bit arrogant.

I also feel this kind of haggling is more effective at the job level than entry into medical school.

 

[IslandStyle808]

Perhaps, lol. I'm under the impression that schools routinely get counter-offers from students who have financial packages elsewhere though so I don't think they'd be too offended. Now if you were telling Harvard to give you money because you got a full scholarship to Meharry.. well that might rustle some jimmies.

I agree also.

There might be someone on the forums who has been in a similar situation. Hopefully he/she will chime in.

 

[airplanes]

I agree also.

There might be someone on the forums who has been in a similar situation. Hopefully he/she will chime in.

I know people who have been there, done that. It can work.

 

[MedPR]

I know people who have been there, done that. It can work.

Who did what?

Got a top school to give them money because a bottom school did?

 

[Dash2021]

Never mention how quite your night at the hospital is....

Thanks all to the replies. I have a hard time turning down free money, but I agree this is probably a deal not worth pursuing. Also no harm in mentioning it and seeing if I get some love from A: worst case scenario I'm in exactly the same financial shape as I am now.

I'm a little surprised that there isn't even a case to be made for B. I couldn't make one, but as mentioned I'd already biased myself against it. Glad to see that more objective eyes couldn't make the math work out either. Not sure the discussion changed my decision, but I feel a wee bit more comfortable with it.

 

[SOMBound13]

No.. No.. I just was making reference to school A will most likely not offer a scholarship that easily just by mentioning school B's offer. I just feel one might come off as a little bit arrogant.

I also feel this kind of haggling is more effective at the job level than entry into medical school.

If you politely contact School A about the other school's offer, School A is not going to be offended. You're a married person with a child. They're going to understand that you're taking the financial aspect very seriously. Most of the FA people probably have dependents as well. They'll "get it".

 

[battousai]

The $20k savings you might get from B doesn't factor in moving expenses or day care. You haven't told us about cost of living, but assuming it's higher in B, that'll cut into your $20k as well.

There's so many factors about relocating that most people neglect and take for granted.

Let us know how it works out for you!

 

[LizzyM]

If you politely contact School A about the other school's offer, School A is not going to be offended. You're a married person with a child. They're going to understand that you're taking the financial aspect very seriously. Most of the FA people probably have dependents as well. They'll "get it".

^ absolutely agree. Don't choose School B until you have your financial aid package from School A. (This is why you have until May 15 to make a decision). It is not uncommon to contact School A and let them know of the scholarship offered by School B. They might let you know that they regret that they can't match it, or they might throw you a bone. Either way, you can still choose School A. This happens all.the.time.

I also agree that the costs of moving, wife's job hunt, child care, etc will seriously eat into that "generous" scholarship such that in the end it might be a wash.

 

[sazerac]

The scholarship is renewable based on merit (top 50% of class). IF I qualified for all 4 years, it would translate into ~60k.

I cannot imagine the pressure of having to beat 50% of your class every year. Medical school is supposed to be a pass/fail mellow experience where you define your own success and then achieve it. Is four years of additional pressure (plus attending a school that is not a good fit for you anyway) really worth 3-4 months of future salary?

 

[wholeheartedly]

I also agree that the costs of moving, wife's job hunt, child care, etc will seriously eat into that "generous" scholarship such that in the end it might be a wash.

This, the 20k difference is only between the scholarship and wife's job, when you factor in childcare and other issues like LizzyM said it's probably going even out.

 

[SOMBound13]

^ absolutely agree. Don't choose School A until you have your financial aid package from School B. (This is why you have until May 15 to make a decision). It is not uncommon to contact School A and let them know of the scholarship offered by School B. They might let you know that they regret that they can't match it, or they might throw you a bone. Either way, you can still choose School A. This happens all.the.time.

I also agree that the costs of moving, wife's job hunt, child care, etc will seriously eat into that "generous" scholarship such that in the end it might be a wash.

This, the 20k difference is only between the scholarship and wife's job, when you factor in childcare and other issues like LizzyM said it's probably going even out.

True. But the goal isn't to attend the scholarship school. The goal is to politely get the favorite school to show some love and make some kind of offer. Even if the favorite school only offers $5k per year, that's better than nothing if that's the school that the student selects and prefers.

 

[wholeheartedly]

True. But the goal isn't to attend the scholarship school. The goal is to politely get the favorite school to show some love and make some kind of offer. Even if the favorite school only offers $5k per year, that's better than nothing if that's the school that the student selects and prefers.

I wasn't advocating choosing the scholarship school. I was saying that the while some people are saying there's a 20k difference between the preferred school and scholarship school, when all factors are considered the difference is likely going to be negligible. Thus the OP should just go to the preferred school (pretty sure LizzyM meant the same thing) and yes, the OP should definitely see if school A will throw him a bit of assistance.

 

[SOMBound13]

I wasn't advocating choosing the scholarship school. I was saying that the while some people are saying there's a 20k difference between the preferred school and scholarship school, when all factors are considered the difference is likely going to be negligible. Thus the OP should just go to the preferred school (pretty sure LizzyM meant the same thing) and yes, the OP should definitely see if school A will throw him a bit of assistance.

I agree that you weren't advocating the scholarship school. And, I agree that with the various factors, the scholarship school may not prove to be much cheaper at all. My point was that instead of just selecting the pricier school, see if a "win/win" situation can be had.....attending the favorite school while also getting them to throw in some $$. The favorite school may think it's worth it to offer $$ to help protect their yield.