Funding an MPH? How much in loans is too much for you?

[WHOdriscoll91]

Having my brother play devil's advocate has me thinking more about my borrowing tolerance. Right now I know I will be borrowing (semi-worst case) around $80,000 for my Epi MPH. Adding that to my undergrad debt I'll have around $105,000 in student loans by the time I finish my MPH. My brother, who has around $400,000 from med school was astonished that I'm fine with that on an entry level salary of probably around $55,000.

Have you guys applying decided on how much your willing to take out for school? Are you expecting more funding your second year from your schools?

Just trying to feel around if I'm really out of my mind taking on that much.

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[AoiSora]

This will not be useful to you if you stop at the MPH, but if you finish a doctorate and devote at least 20 hours per week to research that fits within one of five program areas you may apply to the NIH repayment program. Here is the announcement from last fall:
http://nexus.od.nih.gov/all/2014/08...mail&utm_content=nihupdate&utm_campaign=aug13

 

[IntriguedStudent]

I'm in pretty much the same situation you are. I have some loans from undergrad, so taking out a significant amount for my MPH would definitely create a pretty large debt burden. I haven't really set a limit on how much I'm willing to take out for grad school yet, but I have considered attending some of my cheaper options simply because of the debt. I'm waiting until I get a little bit closer to making a decision before I start really comparing the cost to benefit ratios for each of my schools.

 

[WHOdriscoll91]

Yah, I'm still waiting on my top choice. Which may make me feel a little more confident in this whole process.

 

[nbde4dds]

Hey guys, can you please tell me how are the job prospects after doing MPH? Is it easy to find a job? Your reply is much appreciated.

 

[IntriguedStudent]

Hey guys, can you please tell me how are the job prospects after doing MPH? Is it easy to find a job? Your reply is much appreciated.

It's going to largely depend on what concentration you are pursuing. An MPH is a very broad field with many different career opportunities. In general, job prospects for most MPH graduates are pretty good (with epi and biostats having some of the best job prospects). How easy it is to find a job is really up to how flexible you are and how much networking you do/technical skills that you acquire. If you put in the effort during your MPH and are at least semi-flexible with the location that you are willing to work, it shouldn't be too difficult to find a job after you obtain your degree.

 

[Solara]

When choosing between a more prestigious school with a higher tuition vs a lesser prestigious school with lower tuition, it really boils down to what exactly you/ll take advantage of at the more expensive school. Are there specific people you can network with (and make a strong relationship/good connections with, not just meeting them once in their office)? Will those connections lead to jobs you otherwise couldn't have gotten at other places?

You can hear it from both sides of the argument, and it depends on each school comparison (e.g., my personal opinion is that Hopkins is absolutely worth it, but not sure about Boston University). You may develop a very similar skillset at both schools' programs. In some cases, it's probably worth going to the cheaper school if there's not anything significant to take advantage of at the more expensive school.

 

[WHOdriscoll91]

When choosing between a more prestigious school with a higher tuition vs a lesser prestigious school with lower tuition, it really boils down to what exactly you/ll take advantage of at the more expensive school. Are there specific people you can network with (and make a strong relationship/good connections with, not just meeting them once in their office)? Will those connections lead to jobs you otherwise couldn't have gotten at other places?

You can hear it from both sides of the argument, and it depends on each school comparison (e.g., my personal opinion is that Hopkins is absolutely worth it, but not sure about Boston University). You may develop a very similar skillset at both schools' programs. In some cases, it's probably worth going to the cheaper school if there's not anything significant to take advantage of at the more expensive school.

Yah, I guess this is pretty much it. Mine is Rutgers vs Yale vs (hopefully) Columbia. Rutgers I'd leave with no debt, but from experience I'm not impressed with their graduates and their connections are good but very concentrated in Jersey.

 

[Stories]

I think if you have a spouse with student debt, the amount of loan that is acceptable changes. A spouse with limited students loans, might allow for more loans to be taken out. Also, career path can also make taking loans more tolerable. For instance, if I was getting a health management degree, I would have no problems taking out $100k in loans. Entry level and mid-career salaries for many management careers is fairly well paying. If I have a spouse that makes over $100k and has little to no debt, I also consider taking out a sizable loan to go to the best school possible if the degree/reputation of the school matters in that field.

Between my spouse and I, we make around $170k combined, with $90k in total student loans. It's manageable. It's not ideal, but it's fine and not completely killer. Many of my friends (mostly physicians or lawyers) have over $300k+ in debt, and while they aren't having fun paying off their debts, it's do-able. Just requires longer payment periods. The unfortunate thing is that some careers require lots of schooling and in many cases equals lots of debt. But, in some careers, going to a more famous, well-respected school and/or fellowship can help in landing more opportunities where there are lots of competition for positions (i.e. faculty positions, executive/management consulting, biotech).