Full tuition scholarship questions

[pedneuro6894]

I’m grateful to have a received a full tuition + fees scholarship today! Obviously that’s only half of what the full cost of attendance ends up being. Am I still able to get need-based aid that covers some/all of the rest of attendance costs? People who have been in this boat before, did you get any other assistance?

Going from $110k/yr to $50k/yr is huge, but that’s still 200k in student loans even with the scholarship (much better but still mind-boggling lol) I’m just curious how it’s been for others?

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[Mr.Smile12]

I’m grateful to have a received a full tuition + fees scholarship today! Obviously that’s only half of what the full cost of attendance ends up being. Am I still able to get need-based aid that covers some/all of the rest of attendance costs? People who have been in this boat before, did you get any other assistance?

Going from $110k/yr to $50k/yr is huge, but that’s still 200k in student loans even with the scholarship (much better but still mind-boggling lol) I’m just curious how it’s been for others?

Mazel tov / Congratulations on the award.

If we're talking about further pre -matriculation awards, it might be tough to get more because so many other students have different packages and needs. You must trust your financial aid office if they can find you more (if it's necessary). Ultimately the financial aid pot needs to be equitable to all incoming students given the costs of attendance. Check with financial aid or your local community if there are some places willing to give you some extra money (faith communities are one example).

 

[LizzyM]

Do keep in mind that asking for charitable dollars to fund your medical education which will, one hopes, provide you with the credentials and education to begin earning six figures in residency and mid-six figures or higher 3 -5 years later might be considered a bit much. Do you want to pay nothing for a degree that will earn you millions over your lifetime?

 

[pedneuro6894]

Do keep in mind that asking for charitable dollars to fund your medical education which will, one hopes, provide you with the credentials and education to begin earning six figures in residency and mid-six figures or higher 3 -5 years later might be considered a bit much. Do you want to pay nothing for a degree that will earn you millions over your lifetime?

I mean of course I would love to pay nothing! But no, I wouldn’t ask for charitable donations (I’m not religious or belong to any groups that would do that anyway). The question was more out of curiosity and whether it’s even possible to receive more financial aid to cover living expenses. I just have no idea how this process works lol.

Also, from your comment, do you actually think 4-5 years from now residents will be making 6 figures?

 

[AJS59]

I mean of course I would love to pay nothing! But no, I wouldn’t ask for charitable donations (I’m not religious or belong to any groups that would do that anyway). The question was more out of curiosity and whether it’s even possible to receive more financial aid to cover living expenses. I just have no idea how this process works lol.

Also, from your comment, do you actually think 4-5 years from now residents will be making 6 figures?

I don't think instantly for all residents, but I can imagine the 6 figure mark might be able to be cracked for PGY-7s and above in the near future - saw some hospital systems with salaries in that range

 

[LizzyM]

I just heard from a firs year resident (often referred to as a PGY-1) I know in real life who is making 6 figures in NYC. I hadn't asked but the PGY-1 volunteered that information and I have not reason to believe it is an exaggeration. YMMV

Money that schools, or other organizations, give as financial aid come from charitable donations or the interest earned on what was donated years ago (endowment). "Development" offices raise money from donors who give of the money to support the organization that's asking for money. Charitable doesn't mean just churches, etc, it includes schools, hospitals, museums and even opera companies. Asking to have your living expenses covered by grants and scholarships is asking that people or foundations fund your room and board. IMHO anyone lucky enough to have that sweet deal should pay it forward as if they were paying off a loan with a generous contribution to the med school (or a similar group that helps students) on an annual basis.

 

[Sandman23]

I just heard from a firs year resident (often referred to as a PGY-1) I know in real life who is making 6 figures in NYC. I hadn't asked but the PGY-1 volunteered that information and I have not reason to believe it is an exaggeration. YMMV

Money that schools, or other organizations, give as financial aid come from charitable donations or the interest earned on what was donated years ago (endowment). "Development" offices raise money from donors who give of the money to support the organization that's asking for money. Charitable doesn't mean just churches, etc, it includes schools, hospitals, museums and even opera companies. Asking to have your living expenses covered by grants and scholarships is asking that people or foundations fund your room and board. IMHO anyone lucky enough to have that sweet deal should pay it forward as if they were paying off a loan with a generous contribution to the med school (or a similar group that helps students) on an annual basis.

There ain't no harm in asking. The purpose of charitable donations is to give it. It'd be an assumption to say that OP isn't the demographic donors would want to have it given to

And ain't no PGY 1 making 100K or near it. I'm no expert but the AAMC is: check it out here. The 75th percentile for a PGY-8 is 95K....cmon now. Let the brother live

 

[LizzyM]

There ain't no harm in asking. The purpose of charitable donations is to give it. It'd be an assumption to say that OP isn't the demographic donors would want to have it given to

And ain't no PGY 1 making 100K or near it. I'm no expert but the AAMC is: check it out here. The 75th percentile for a PGY-8 is 95K....cmon now. Let the brother live

Stanford Neurology Resident Salary, Benefits, and Perks

med.stanford.edu

 

[stew_md]

There ain't no harm in asking. The purpose of charitable donations is to give it. It'd be an assumption to say that OP isn't the demographic donors would want to have it given to

And ain't no PGY 1 making 100K or near it. I'm no expert but the AAMC is: check it out here. The 75th percentile for a PGY-8 is 95K....cmon now. Let the brother live

It is true that residents in NYC make considerably more than the national average. It’s certainly possible.