I am a full-time student about to apply to medical school in June. I work 20 hours a week (about as much as I can), but with living expenses, I feel like I won't be able to save enough for the entire medical school application process. My family cannot afford to help me financially, and they are literally trying to tell me to "apply to fewer or less-prestigious (as if that affects the cost) schools"--none of them have gone to college let alone medical or grad school, and they honestly do not understand how much effort it takes to get into medical school, or how much work I have invested to make myself competitive at the schools that I want to apply to. I also had to turn down an NIH postbac offer because my family can't afford to help me make the transition to Bethesda. Really just sucks...
I just hate how expensive this process is, and how it favors those from well-off families (not that y'all aren't working just as hard but you know what I mean). I'm sure a similar rant has been posted, but I am just now beginning to understand how frustrating it is. What do you folks do?
First I'm going to rant, then I'm going to offer some useful comments, so if the first part pisses you off, stick with it and maybe you'll find a useful pearl.
How do you afford anything? How do you afford rent? How do you afford food? How do you afford tuition? Either someone gives it to you because they're wealthy, because you're poor, or because you're meritorious, you borrow it, or you earn it by working. It's like these yeahoos asking "how do you afford health insurance when you retire early?" You afford it just like you afford food and property taxes. It's just another one of your expenses. There's nothing magic about application costs.
Now, for something helpful:
# 1 Get a job. I know, crazy. I had one as an undergraduate. I also had one as a medical student. I had a second one when I was a resident. And when I was a military attending. And even now that I'm a private practice attending. My kids all know where money comes from. I ask them, "Where does money come from?" They answer, "Work." Because it's true. What is money? It's the time and life energy you exchange for it. Got too much time and life energy and not enough money? Make the exchange, at the best rate you can.
# 2 Borrow it. There's a reason most people have debt problems- debt is incredibly easy to get! Lending Club, Prosper, Credit Cards, Title Loans, student loans, family loans, HELOCs, you name it. If it gets you into medical school, it's likely a good investment. Obviously, the better the rate and terms the better. If you end up with a bad loan, wipe it out with your first medical school loan installment. Why not borrow a little more the year you apply or better yet spend a little less by eating beans and rice and use the difference?
# 3 Sell stuff. You might be surprised how many of your fellow undergrads don't have a car or even a nice bike. Be like them, and use the difference to apply to medical school.
# 4 Beg. There's the Fee Assistance Program. If your parents make too much for you to qualify, beg your parents.
# 5 Get in the first time. Do it right the first time. Apply to enough schools. Get your applications in early. Make sure they're perfect, you spend good money on them. It isn't that applying again next year is so expensive, it's the $200-400K you lost for that year you're not an attending physician.
I don't know if I would have qualified for the FAP or if it even existed when I applied, but I can tell you this- I paid my own application fees and travel costs from money I made working a job.
