How important is the $$$$?

[kat13]

I was jsut wondering how important is the money really? I mean if it is a school you really love, should it matter? Should it be a huge factor in deciding where to go? Should you be willing to pay more for the reputation of the school? I mean in the end what is the difference in a $200,000 and a $225,000 debt?

---

Members don't see this ad.

 

[goooooober]

$25000!!!!!

 

[Popoy]

Personally, it didn't matter.... I'm not rich either....

I'm relying on scholarships and loans to pay my way through and everything else would hopefully work out in the end. I knew that when I got into this business that money shouldn't be an object or a barrier to my goals....

I'm sure others would beg to differ but this is simply my two cents.

 

[drvlad2004]

I would say that the tuition would be important only if you had the luxury of choosing between more than 1 medical school. Many of us were just fortunate to get into just one school. If you really like what that school has to offer, I wouldn't worry about the costs. I'm basically relying on loans and I am lucky to live at home with my parents, commute to med school, and hardly pay for housing and meals.

 

[jhug]

i would not let it be THE determining factor, but i would definitely take it into consideration when deciding which school to attend. It is important to that you see where your $$ is going as well. If the school is not improving (buildings, equipment, resorces, services) every single year, i would be weary of attending.

 

[msgbueno]

I think that you're career objectives are more important that the Ching Ching. If you want to get into the residency position that you desire, you'd probably want to go to a well-known school even though it costs and arm and two legs. You'll be making the money later to pay it off. And in the long run when you're like 70, this won't even be an issue.

 

[EHallberg]

I'm a non-trad student, and as I'm looking carefully at this crazy thing I'm about to leap into, here's how I think of the money...

I was overpaid and happily contributing to a 401(k) account, at age 23. Had I done NOTHING, and stopped contributing at age 28, it might have merrily earned interest such that I'd have (theoretically) half a million at age 55.

Then, life happened. I was divorced and penniless at age 29. I am presently in debt with undergrad loans, just about the same amount that it takes me a year to earn. As I think about what to do with the second 2/3 of my life, sure; it would be nice to be able to make up some of what got burned away. But I don't regret any of the above.

I was definitely not happier during that time when I was a little Yuppie. My observation between cash and happiness is that there's been not much correlation, and certainly no evidence of a causal relationship.

So my advice is, do what you need to do, do what keeps you interested day after day. If it costs a boatload to get there, fine. If it earns you a boatload someday, fine. Neither consideration should carry enough weight to change your decision much.

 

[GoForIt]

I agree with msgbueno's reply. What you ultimtely want to be should also be one factor in your equation to select your med school. If you do not know what you really like, perhaps you should contact Michigan State U for its "medical speciality test". The test asks you a bunch of questions and ranks a list of medical specialty that would be the most suitable for you based on your answers.

Sometimes the projected cost might be less than expected. For example, Michigan State charges about $40,000 for out-of-state residents, while most other DO/MD schools charge about $30,000 each year for tuition. However, for those out-of-state Michigan State students, if they should decide to do their residency in Michigan, then they will be allowed to pay the in-state tuition for their fourth year which is about $17,000.

I think there was a thread about things that are worthy of consideration in selecting med schools. You should look it up. Sometimes $$$$ is not the overriding factor.

Good luck.

 

[goooooober]

$25,000!!!!