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I'm at an Ivy League medical school and a few of my friends have revealed to me that they won't have loans when they graduate, or have lavish spending habbits (think designer clothes, luxury automobiles, etc) that I assume their parents are giving them lost of money.
I've heard that the "average indebtness at graduation" figure can be misleading because many families take out loans strategically, with the intention of paying back with parental money. For one thing, prior to the federal budget overhaul, some federal loans were 0% interest while the student was in medical school.
Do you have friends in medical schools whose parents pay for 100% of the cost of medical school? What's the impression that you get of these people? What do their parents do for their living?
I've heard that the "average indebtness at graduation" figure can be misleading because many families take out loans strategically, with the intention of paying back with parental money. For one thing, prior to the federal budget overhaul, some federal loans were 0% interest while the student was in medical school.
Do you have friends in medical schools whose parents pay for 100% of the cost of medical school? What's the impression that you get of these people? What do their parents do for their living?