How do you pay for application fees, interviews, and aways?

[78222]

---

Members don't see this ad.

I am really concerned with paying for all this stuff that I will have to deal with next year when I apply for residency. How do you guys do it? I've heard of people paying over 10k on applications and interviews. Do your schools give you extra financial aid to deal with that? Does it go on credit cards? Do you sell kidneys?

 

[fahimaz7]

We're all super rich kids with trust funds.

PS. If you only spent 10k during the application process, you don't deserve to get in!

 

[78222]

We're all super rich kids with trust funds.

PS. If you only spent 10k during the application process, you don't deserve to get in!

Shut it n00b, I was asking a question to medstudents not worthless premeds😡

 

[78222]

This does NOTHING to assuage my fears!

Costs per academic year First year Second year Third year Fourth year
Tuition & fees - resident $21,483 $20,739 $20,154 $19,626
Tuition & fees - out of state resident $39,933 $38,651 $37,544 $36,510
Books & supplies $7,750 $3,670 $4,575 $2,400
Living expenses $17,955 $15,960 $21,945 $19,950
TOTAL - resident $47,188 $40,369 $46,674 $41,976
TOTAL - out of state resident $65,638 $58,281 $64,064 $58,860

wtf, my budget goes down almost 5k between M3 and M4????

 

[IsNoGOOD]

When I see stuff like this I'm happy I live in the netherlands.

Tuition fees are below 2,000$ a year here, total costs averaging 12,000$ a year.

But isn't is possible to get a loan? I'd say banks would be interested in financing a medical student.

 

[fahimaz7]

Shut it n00b, I was asking a question of medstudents not worthless premeds😡

OMg.. We have a gamer on the medical school forums! Here's a secret... Applying to medical school is something we all have to do!

If you can't afford the application, you can try to get a waiver.

 

[78222]

OMg.. We have a gamer on the medical school forums! Here's a secret... Applying to medical school is something we all have to do!

If you can't afford the application, you can try to get a waiver.

READ THE POST [EDIT]. I AM TALKING ABOUT APPLYING TO RESIDENCY, NOT MEDSCHOOL.

Now kindly go sit with the other children.

 

[njbmd]

Most schools budget this into your costs so that you are actually borrowing more for third year. You still have to pinch pennies when you can, cluster trips etc. Just about every one of the residency programs that I applied to covered the cost of the hotel room + one meal. Some covered breakfast on check out day too. It ended up not being much of a burden. Mayo Clinic covered airfare too.

 

[fahimaz7]

READ THE POST [EDIT]. I AM TALKING ABOUT APPLYING TO RESIDENCY, NOT MEDSCHOOL.

Now kindly go sit with the other children.

Awe, with the other children.. You sound so grown up!

PS. I did miss where you said residency.. but, I think the point remains the same.. If you have to fly all around to interview.. Put it on a CC, get mommy to pay for it, or take out more loans. If you want a more in-depth financial session, consult your financial adviser.

 

[akpete]

residency and relocation loan.

hopefully that will still be available in the future. uncertain with the way legislature has been going. talk to your financial aid office.


on the plus side, some residency programs pay for your hotel.

 

[78222]

Awe, with the other children.. You sound so grown up!

PS. I did miss where you said residency.. but, I think the point remains the same.. If you have to fly all around to interview.. Put it on a CC, get mommy to pay for it, or take out more loans. If you want a more in-depth financial session, consult your financial adviser.

How you continued to fail to understand it was about residency and not medschool is beyond me.
1) The is the Allopathic section of SDN not Preallo
2) My Status says "Medical Student"
3) My signature says "M3.5"
4) The OP said "when I apply for residency."

Next time you decide to be a condescending ass, at least make sure you read the post you are replying to.

As for the remainder of your post:

Put it on a CC

I, and most people I know don't have a 10k limit on my credit card but even if I did, I would stupid to put that much money on a high rate loan, especially considering the original amount would amount to around 25% of a first year residents salary.

get mommy to pay for it

I'm an adult... You might consider becoming one yourself over the next few years.

or take out more loans

That's kind of what this post was about but you perhaps are too dense to understand that you can't just get a never ending amount of educational loan money. I can't just say "Hey bank, I will be a doctor, give me more money!".

 

[78222]

READ THE POST [EDIT]. I AM TALKING ABOUT APPLYING TO RESIDENCY, NOT MEDSCHOOL.

Now kindly go sit with the other children.


--------------------------------------------------------------------------------
Last edited by njbmd; Today at 12:04 PM. Reason: Inappropriate Language

***** is inappropriate language? "[EDIT]" makes it sound much worse than it was before the SDN language police got involved🙄🙄.

 

[DrZeke]

Awe, with the other children.. You sound so grown up!

PS. I did miss where you said residency.. but, I think the point remains the same.. If you have to fly all around to interview.. Put it on a CC, get mommy to pay for it, or take out more loans. If you want a more in-depth financial session, consult your financial adviser.

Oh, you're a tool.

 

[smq123]

I am really concerned with paying for all this stuff that I will have to deal with next year when I apply for residency. How do you guys do it? I've heard of people paying over 10k on applications and interviews. Do your schools give you extra financial aid to deal with that? Does it go on credit cards? Do you sell kidneys?

How much you spend on applications and interviews depends on a lot of things. Obviously, if you're applying to something like ortho or derm, your costs will be MUCH higher since you need to apply to a lot more places. If you're a relatively competitive person applying to something non-competitive, your costs will be lower.

The only things you can do is really research the programs that you'll be applying to as much as possible. Sit down and do a lot of self-searching - narrow down exactly WHERE in the country you'll be willing to go. No point in applying to, say, Phoenix if you REALLY don't think you'll like living there (or if your SO isn't willing to move out there, etc.). Research into programs - do you want a big program that does a lot of research and places everyone into a vascular or a plastics fellowship, or do you want the medium sized program that focuses on surg onc, or do you want the community program where you'll be in the OR a lot from day one (but doesn't usually send its people to fellowship)?

Study adequately for Step 2 CS. That **cker is expensive, and no point in taking it again if you can avoid it.

There isn't much in the way of extra financial aid that you can get. 🙁 Sadly, you'll just have to pinch pennies, watch your extra costs, and use your credit cards.

OMg.. We have a gamer on the medical school forums! Here's a secret... Applying to medical school is something we all have to do!

If you can't afford the application, you can try to get a waiver.

There are no "waivers" for ERAS and NRMP.

And if you don't work on your reading comprehension skills, getting into med school is going to be a little tough.....

PS. I did miss where you said residency.. but, I think the point remains the same.. If you have to fly all around to interview.. Put it on a CC, get mommy to pay for it, or take out more loans. If you want a more in-depth financial session, consult your financial adviser.

Actually, I think that applying for residency is quite different from applying to med school. Honestly, if you're a strong applicant, you could get away with applying to just 3 or 4 med schools....and still get in.

But for residency....I can't think of ANYONE who just applied to 3 or 4 programs. That's really unusual, and generally not encouraged.

 

[Droopy Snoopy]

***** is inappropriate language? "[EDIT]" makes it sound much worse than it was before the SDN language police got involved🙄🙄.

👍

 

[phospho]

We're all super rich kids with trust funds.

PS. If you only spent 10k during the application process, you don't deserve to get in!

not only did you completely misread the OP's original post (i.e. the subject about RESIDENCY), but you're also a tool.

OMg.. We have a gamer on the medical school forums! Here's a secret... Applying to medical school is something we all have to do!

If you can't afford the application, you can try to get a waiver.

Do some research before opening your mouth - like someone said before, there are no waivers for residency app fees

P.S. not everyone spends over 10K to get into med school, since not everyone has a 3.2 😉

Good luck!

 

[Vonsmack]

Why not look into private loans? Borrowing more isn't your best answer but if you've penny pinched all you can then an extra loan would be worth it especially if your future residency options are on the line. The market is pretty grim right now but there are still places out there with enough liquidity to give out private med school loans with a decent cosigner- like your bigger banks and sallie mae etc..

 

[masterofmonkeys]

here in Oklahoma we have some of the lowest costs of living of anywhere, but I was able to budget without living like a pauper no problem at all. Granted I saved a chunk of my MS3 loan money to do so as well.

Planning ahead is helpful.

 

[MonkeyNuts!]

OMg.. We have a gamer on the medical school forums!

ZOMGWTFBBQ!!!!!one!111eleven!!! L33tspeak FTW!

Here's a secret... Applying to medical school is something we all have to do!

Actually it's not. And I hope you don't.

 

[PeepshowJohnny]

To make the 10,000 needed for residency application you could make it with five hundred fat chicks for twenty bucks a piece...or five really fat chicks for two thousand dollars a piece.

 

[bcat85]

To make the 10,000 needed for residency application you could make it with five hundred fat chicks for twenty bucks a piece...or five really fat chicks for two thousand dollars a piece.

Well played

 

[GZA]

Awe, with the other children.. You sound so grown up!

PS. I did miss where you said residency.. but, I think the point remains the same.. If you have to fly all around to interview.. Put it on a CC, get mommy to pay for it, or take out more loans. If you want a more in-depth financial session, consult your financial adviser.

welcome to allo

 

[deuce924]

Awe, with the other children.. You sound so grown up!

PS. I did miss where you said residency.. but, I think the point remains the same.. If you have to fly all around to interview.. Put it on a CC, get mommy to pay for it, or take out more loans. If you want a more in-depth financial session, consult your financial adviser.

Here is another gamer term for you...you just got pwned. By the way OP, good luck with residency apps.

 

[fahimaz7]

not only did you completely misread the OP's original post (i.e. the subject about RESIDENCY), but you're also a tool.



Do some research before opening your mouth - like someone said before, there are no waivers for residency app fees

P.S. not everyone spends over 10K to get into med school, since not everyone has a 3.2 😉

Good luck!

I was joking when I said 10k. Both of my parents are public school teachers, so I doubt that I have a trust fund to inherit. God, you guys are way too uber! I can't wait for the real hazing to begin!

Thx.

Ps. I suggested waivers when I thought it was about applying to medical school! Please put me in my place some more about a 3.3 overall from undergrad! I'm still crying on the inside about the D that I had in music appreciation during my first semester in college (eight years ago)! What will I ever do to get over it and how will I ever get into medical school?

 

[fahimaz7]

I am really concerned with paying for all this stuff that I will have to deal with next year when I apply for residency. How do you guys do it? I've heard of people paying over 10k on applications and interviews. Do your schools give you extra financial aid to deal with that? Does it go on credit cards? Do you sell kidneys?

PS. I did miss where you said residency.. but, I think the point remains the same.. If you have to fly all around to interview.. Put it on a CC, get mommy to pay for it, or take out more loans. If you want a more in-depth financial session, consult your financial adviser.

I, and most people I know don't have a 10k limit on my credit card but even if I did, I would stupid to put that much money on a high rate loan, especially considering the original amount would amount to around 25% of a first year residents salary.

You said credit card. In a sarcastic and trolling voice, I suggested it. Just as I joked about the 10k and mommy.

 

[Droopy Snoopy]

I was joking when I said 10k. God, you guys are way to uber and serious. I applied to 1 school and was accepted.

Thx.

Ps. I suggested waivers when I thought it was about applying to medical school! The hazing begins!

The guy's profile says medical student, his post specifically mentions residency applications, and you're in the allo forum. I don't know how many more clues you needed. Still with the f*cking attitude though, even after you found out you were in the wrong, and still nothing to contribute to the thread. Why are you still here? Nice edit btw to make more stinging comments.

OP, the people who aren't applying to something competitive (like derm or urology) or spread-out (like PM&R) can typically limit their choices to one area of the country and <10 interview trips, many of those with free room and board as mentioned above. I'm going through it now and expect the damage to be around 1K when it's all said and done, and that includes a new suit 'cause I got too fat for my old one. If your school doesn't budget for it private loans are always an option.

 

[dilated]

I was joking when I said 10k. Both of my parents are public school teachers, so I doubt that I have a trust fund to inherit. God, you guys are way too uber! I can't wait for the real hazing to begin!

I'll give you the 10k if you never ever post again

 

[badasshairday]

Ban him.

 

[coldweatherblue]

dude, this guy just keeps it coming.

residency apps are a long ways away for me but I'm wondering if I shouldn't try to plan ahead of time anyway. thanks to everyone who replied to the OP with good info.

 

[pianola]

I posted the exact same question (yes about RESIDENCY interviews not medical school) in the pre-allo forums a month ago or so. I got some responses there, though.

Good luck.

 

[njbmd]

Moved to Residency forum where people who are actually participating in the process can give the OP some direction.

 

[RTrain]

Uh, wow. This thread makes me glad I only participate in the Residency forum.

Most folks just get extra loans for the application season - they may be available through your financial aid office or from private lenders, as mentioned above.

 

[Mistress S]

To answer the OP's question, I took out a residency & relocation loan (as others have suggested) from my bank. Almost all banks offer these although with the current financial climate this may become more difficult, who knows. Generally med students are a safer bet than a lot of people banks loan money to. I personally had no difficulty obtaining such a loan at a reasonable interest rate (6 or 7%, I don't remember exactly) without a cosigner. Usually you can borrow up to $15000. It's better than putting it on a credit card, and my family can't help me at all so I don't really have a lot of choice.

You can pinch pennies, but even saving maximally from my fin aid would maybe get me another 1-2K- NOT enough to cover the costs of step 2 CK and CS + interviews this year. I am trying to save money by clustering my interviews geographically to save flight costs, and am considering canceling a couple I have now as I'm not applying into a super competitive field (peds). However, I did want to check out programs across the country. Only a couple of mine pay for hotels and I have heard of some others giving flight vouchers for $100-200 to help defray costs, but this seems to be more of the exception than the rule for peds. Some specialties may offer more help with interviewing costs. I think taking out a loan is really your only option unless your parents can help you, as seems to be the case for many of my classmates.

 

[NERDY]

My med school has a program where current year IV students can stay with an alumni when you are in town for an interview. I'm only a first year, but this could be a good way to cut costs and learn more about the new city.

 

[Cologist]

Seriously consider taking a per diem job as a 4th year. Even a few hours here and there can pay for a tank of gas or a hotel room.

Residency programs often send you a list of hotels with a special price for applicants. A quick search on travel websites often shows you better deals, if you are willing to drive a little bit further from the hospital.

 

[SLUser11]

I, and most people I know don't have a 10k limit on my credit card but even if I did, I would stupid to put that much money on a high rate loan, especially considering the original amount would amount to around 25% of a first year residents salary.

I'm an adult... You might consider becoming one yourself over the next few years.

That's kind of what this post was about but you perhaps are too dense to understand that you can't just get a never ending amount of educational loan money. I can't just say "Hey bank, I will be a doctor, give me more money!".

You are absolutely wrong about most of this.

Most medical students qualify for credit cards with huge limits, and banks will give us tons of loan $$ as well, based mostly on our future earning potential.

I signed up for a credit card through the AMSA on the first day of classes as an MS1, and the limit was $12K.

Also, a lot of the companies that we do our students loans through have a formal "Residency Relocation Loan" available, which is anywhere from $10-15K in a lump sum.


Also, while I empathize with your desire to not spend $$ on a high interest loan or credit card, that's the way the cookie crumbles. You have to spend money to effectively go through the interview process. There's no good way around it. That's how most of us paid for interviews.

Although, as someone else mentioned, there are still quite a few students living out of daddy's pocketbook, and they get help that way. If I had that as an option, I would have taken it, despite being an "adult."



Also, I want to mention that if you posted this in the Allopathic forum initially, then you lose the stupid argument at the top of this thread. And, I would encourage you to continue posting there, and not here......

 

[Cologist]

Most medical students qualify for credit cards with huge limits, and banks will give us tons of loan $$ as well, based mostly on our future earning potential.

I signed up for a credit card through the AMSA on the first day of classes as an MS1, and the limit was $12K.

Also, a lot of the companies that we do our students loans through have a formal "Residency Relocation Loan" available, which is anywhere from $10-15K in a lump sum.

This is no longer true, thanks to the financial crisis which is now hitting private student loans and credit cards offer. Despites my good credit, I needed a co-signer for a residency/relocation loan which really came as a shock since I was able to get a car loan two years ago as a MSII.

Another problem that is unique to this year interview cycle is the high price for air travel. Luckily, gas prices are going down right now and I can drive to most of my interviews.

 

[Faebinder]

I feel more stupid for reading this thread's initial argument with a premed.

Anyway, it used to be tilted such that those who achieved high academic standings got most interviews... now it's all about money... more money = more applications = more interviews = more chances at ranking.

Money can only take you so far but it can take you far...

 

[Miami_med]

Unless you are applying to all far away programs, or you live in an area with nothing close by, I really fail to see how this can't be worked out with some forethought. I essentially put about $8k away over four years, and this was while essentially supporting a wife and kids on student loans. I borrowed nothing on a credit card that I couldn't pay off. Think cheaply early.

If you're really crunched, the trick is to apply broadly within your own region, though you should be able to apply to some dreams elsewhere. Clustering is also key, and one way flights are usually cheaper than round trips. I have three different "trips" that cover a total of 9 interviews during the season. That is the bulk of it right there. The total cost for those 9 is about $3500, but they are largely far away from where I am. I also didn't apply in NY, Boston, DC, Chicago, or LA, but anyone with an interest in these places can probably cluster if they can find a way to hang around cheaply. Anything in state can be very cheap. Find someone to stay with. You'd be amazed. I just completed an interview across the state, stayed with an old co-worker of my fathers and drove myself. The total cost to me was about $80, and that included a $5 beer. Your home school is also a freebie.

It also depends on specialty. If you are applying as a USMG to peds, you really don't need to do a huge number of interviews. A few dream schools, maybe a just right or two and a safety. You don't need a hundred safety schools, because decent spots are usually available in the scramble if you're qualified. If you're applying to anything at the level of competitiveness of EM or surgery and up, I'd bite the bullet and do ATLEAST 10, with more like 15 being a safer number for an average applicant.

If you still find that you need money after doing all of this, there is a residency and relocation loan, which was extended to $25k this year. DO NOT SPEND $25k. If you can't get this loan with one lender, I know many people who are taking it successfully without co-signers with others. I guess that having terrible credit could hurt you here.

 

[John Deere Gree]

To pay to apply to residency programs, I saved what little loan money I get from the school, knowing this day would come. Luckily I can afford it.

Had that not been the case, I know our school allows us to take out up to $10K via a private loan (I think through Wells Fargo) to help pay for the expenses. You might want to check with your school to see if they can assist in anyway.

 

[dragonfly99]

If you are applying in a noncompetitive specialty, I really don't see any reason to be spending > $1000-1500 total. Hopefully you can drive to some of your interviews. If you must fly to some places, try to cluster the interviews (I did this for Chicago area).

Try to save up as much money as you can the next few months. Some options for saving money on trips includes staying with friend or alumni (rather than in a hotel), use Orbitz or other travel sites to look for cheaper hotels than the ones "recommended" by the medical centers (which sometimes are more the level of hotel that attendings would stay in), use discounts provided by AAA if you belong, or the AMA (has flight discounts, a guest program where you can stay with a member I think), perhaps AMSA has something similar. Some students I know managed to interview/travel with a friend from the same med school. Also, when staying at hotels near the medical center I was visiting, I often found it more economical to get a shuttle van to/from the hotel and airport, or take a cab, than to rent a car. It really all depends...you just have to be creative.

Also, if you have any family members that you can borrow a few hundred dollars from, with promises to repay over the next few months (or next summer when you have a regular paycheck) that would be a good plan. Residency relocation loans are another option. The lower down/last option is to charge things on a high rate credit card.