Harvard vs top 20

[themadchemist]

If you call it financial aid, that is fine. What ever the source of money, this particular applicant was getting a full tutition paid for by Harvard and Hopkins. We wanted her to come UVA very much and she expressed a lot of interest in our school, but she was not going to come to UVA over Harvard if our school did not offer her the same as Harvard. So we had to come up with a way to finance this applicant's education, and we did, via the alumni funds. She decided to come. I know this because I was part of the admission's committee at UVA when I was a 4th year student. Believe it or not, but med schools go to length to get you to come, if you were a "superstar", someone that just stands out besides a high MCAT and high GPA. I seen plenty of people with over 35 MCAT and over 3.9 GPA during the interview season. But this particular applicant "really" stood out to us, and I guess to Harvard and Hopkins as well. You can check out the latest UVA medical school alumni magazine, because it mentions her...... then it asked me to donate money to the school

If you look at Harvard's financial aid system, everyone gets loans up to the first 25 grand a year. I don't know if this was true in years past, but I doubt they just threw out their rules for one applicant, though it's possible.

But this is nit-picking. We get your point, which is an interesting one.

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[Jon Davis]

Unless they changed the rules, you can get a relatively small tax deduction on interest paid on certain student loan debt, but only if your salary is very low. I wouldn't make tax savings much of a factor in considering this. There are worse investments you can make than investing student debt in yourself. However one thing you shouldn't do is count on any specific salary as a given -- there are too many variables. Also a million over the course of a lifetime is only a good amount if you live a very short time.

I'm not American so I don't know your tax laws. Thats why I said, "as far as I know". Nice to know though.

Anyway, Law2Doc, this is what you said:

"However one thing you shouldn't do is count on any specific salary as a given -- there are too many variables."

- I agree there are variables. But take a look at the big picture here. You will pay off your debt, probably in a short amount of time (relative to your career's lifespan).

"Also a million over the course of a lifetime is only a good amount if you live a very short time. "
- The real numbers will vary from doc to doc but it was to put things into perspective. You will make a great deal of cash. What is important however, is what you do with it but thats besides the point.

The main idea of the post was to shed light on the fact that these debts will not follow you around forever. It is debt that almost everyone takes on, in almost every professional school. Its normal so don't freak.

 

[DrBowtie]

In a very unscientific study, 23 people on MDapplicants were accepted to Harvard for the 2005 class. Of those 23, 3 people commented on scholarships received. 2 were full rides to schools within the top 20 and 1 was a partial to a good school outside the top 20.

Results: All 3 are MS1s at Harvard.

 

[gujuDoc]

In a very unscientific study, 23 people on MDapplicants were accepted to Harvard for the 2005 class. Of those 23, 3 people commented on scholarships received. 2 were full rides to schools within the top 20 and 1 was a partial to a good school outside the top 20.

Results: All 3 are MS1s at Harvard.

Yeah this was certainly the case for one of the MS1's who posts in the allo forums that used to post here in preallo last year. His name is Mattdeopsy on the boards.

He had full rides to Vandy and Baylor, I believe as well as numerous other acceptances. Til the very end, he was haggling for more money from HMS, which they finally gave him. He ended up there is now an MSI there.

 

[GoodEats]

So who exactly would you be haggling with? And by "til the very end", is up to May 15th?

 

[diosa428]

So who exactly would you be haggling with? And by "til the very end", is up to May 15th?

You haggle with the fin aid department. Usually, at places like Harvard, they are sitting on tons of money and will give you more if you ask for it (if they really want you). You say something like "look, Harvard is my top choice, but I got a full ride to this other wonderful school. Can you add to my package? Otherwise I will have to go to this other school". Sometimes they will.

 

[Mateodaspy]

So who exactly would you be haggling with? And by "til the very end", is up to May 15th?

i formally petitioned the financial aid committee to re-evaluate my package based on other packages i received from other schools and on additional financial information from my parents.

 

[gujuDoc]

i formally petitioned the financial aid committee to re-evaluate my package based on other packages i received from other schools and on additional financial information from my parents.

Hey just wanted to say thanks for coming out of allo forum and into the preallo forum to answer the above posters questions.

For the rest of you who are in the HMS vs. other top 20 schools, Mateo who posted above me, is a good example of a profile you should look at. He had some pretty darn good offers from other schools too.

 

[2009md2b]

If you look at Harvard's financial aid system, everyone gets loans up to the first 25 grand a year. I don't know if this was true in years past, but I doubt they just threw out their rules for one applicant, though it's possible.

But this is nit-picking. We get your point, which is an interesting one.

As an MS1 at HMS, that didn't qualify for the unit loan, I have to disagree with that everyone gets loans up to 1st 25K/yr. statement. My father is in the military, my mother doesn't work, and my brother is also in graduate school and I didn't qualify... Financial aid at HMS isn't the strongest in my opinion. I literally sat in the FA office with tears streaming down my cheeks about how much debt I will graduate in. Maybe I take these things really seriously but it weighs on my a lot. In the end, my parents did end up chipping in because I just couldn't do it any other way.

 

[rouge et noir]

i'd take the full ride over harvard.

 

[aspiringdoctor]

Harvard would definitely have to give me a better offer than my in-state tuition at Michigan for me to go there. Nothing against Harvard or Boston, but for me it simply isn't worth it.

can someone list the top 20 schools?

 

[Rafa]

What exactly does a 'full ride' quantify as? Does the school pay for tuition, leaving you to pay for room & board, books and food, travel? Or does the school pay for literally everything? Every one seems to have a different definition of the term.

 

[Fermata]

What exactly does a 'full ride' quantify as? Does the school pay for tuition, leaving you to pay for room & board, books and food, travel? Or does the school pay for literally everything? Every one seems to have a different definition of the term.

Full ride usually means tuition + fees although it can sometimes include that other stuff.

 

[Messerschmitts]

I'd take UCSF (a top 10) over Harvard without full ride.

 

[wowzer]

am i the only one sick of hearing about harvard/hopkins/blahblahblah all the time?

 

[huknows00]

As an MS1 at HMS, that didn't qualify for the unit loan, I have to disagree with that everyone gets loans up to 1st 25K/yr. statement. My father is in the military, my mother doesn't work, and my brother is also in graduate school and I didn't qualify... Financial aid at HMS isn't the strongest in my opinion. I literally sat in the FA office with tears streaming down my cheeks about how much debt I will graduate in. Maybe I take these things really seriously but it weighs on my a lot. In the end, my parents did end up chipping in because I just couldn't do it any other way.

What do you mean you dind't qualify for the 25k loan? Looking at your parental information, I would imagine your expected contribution to be fairly low. Without loans, how else were you expected to make up for the rest of the cost, take out private loans?!!

 

[Law2Doc]

am i the only one sick of hearing about harvard/hopkins/blahblahblah all the time?

Actually Blahblahblah is one school that hasn't gotten nearly enough discussion on SDN.

 

[2009md2b]

What do you mean you dind't qualify for the 25k loan? Looking at your parental information, I would imagine your expected contribution to be fairly low. Without loans, how else were you expected to make up for the rest of the cost, take out private loans?!!

Yes, their plan required that I take out very extensive levels of private loans. Although my parents' income is not very high, their savings is somewhat substantial given how freaking frugal they are!