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I have a question. How do you afford the tuition and living expenses for SMP? Besides of Federal Aid, do you take Private Loans and stuff? Please reply to this message.
For those who are enrolled in SMP or interested in it
- Thread starter nanaschool2000
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Some people have family who help them out, but the vast majority of people I went to class with took out private loans in addition to the federal aid. Please read this reply.
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Thankfully, however, loan rules have changed this year and you are allowed to borrow Federal Plus loans (which before only undergrad parents could buy) that should cover the entire loan after Staffords. They are only slightly better then private loans, but any improvement is a plus.
The thing you have to accept about the $ is that you are going to be a doctor (allways think positive) and you will be able to pay these off.
The thing you have to accept about the $ is that you are going to be a doctor (allways think positive) and you will be able to pay these off.
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Student loan + home equity (to get rid of credit card debt) + working part time.
I didn't have a mortgage on the house, but it needed lots of repairs (thus the ccard debt that was refinanced). Therefore, the home equity is equal to really cheap rent. Working part time allows me to not have to get a loan to pay for living expenses. The student loan pretty much covers tuition, but the healthcare and extras are out of pocket.
I have the same mantra as touchdown. When I am a dr., I will be able to pay it off.
I didn't have a mortgage on the house, but it needed lots of repairs (thus the ccard debt that was refinanced). Therefore, the home equity is equal to really cheap rent. Working part time allows me to not have to get a loan to pay for living expenses. The student loan pretty much covers tuition, but the healthcare and extras are out of pocket.
I have the same mantra as touchdown. When I am a dr., I will be able to pay it off.
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I think most pre-meds overestimate how much doctors actually make. Factor in acruing interest during residency and you will come out with a payment that may be more than a decent mortgage payment.
Not trying to scare you guys. Just be smart about how you go about getting loans. Take only what you need.
Not trying to scare you guys. Just be smart about how you go about getting loans. Take only what you need.
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^In my case it worked out to a wash, I got into a state school (not my state, but it will be for admissions purposes starting next year) so basicly the 60k spread out over three years of instate savings makes my med school cost equal to a private school. As for pre meds overestimating, I would agree, but not in this case. You will not be able to buy the mansion, luxury car, work 40 hrs a week and pay your loans, however a normal doctor's work week will allow you to live comfortly as you pay off your loans, even if you're a primary care doctor.
