How much are your parents paying/how much did they pay for pharmacy school?

[homeslice]

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I know a lot of people had their parents pay for some or all of their undergrad, but I was curious to see how generous they were during pharmacy school. Post when and where you went to school too if you so desire, since pharmacy school costs vary wildly with that.

I know this won't apply to some students who are older or are already parents themselves.

 

[FunnyHunny]

My undergrad was paid for with a scholarship, but I am completely on my own for pharmacy school. They can afford to help but...decided to buy a house in Florida instead.

 

[TXPharm]

I got through undergrad with scholarships out the wazzoo and some federal grants. Right now, I just took out a loan for my first year. However, they are helping me move and get started.

 

[diastole]

I'm thinking my pharmacy school education might end up costing my parents quite a bit. I'm attending school near Vegas and I suspect they will be stimulating the local economy when they come to visit. I won't see a dime of it though.

 

[The Fargoan]

My parents paid for my first degree. I'm financing this one completely with student loans. My parents do help with unexpected expenses like random emergency surgeries and replacing car parts. I tell them it's an investment in their retirement prescription coverage.

 

[Maxpwer222]

My family is rather poor and I ended up paying for my Undergrad myself. Pharmacy school will be mostly loans. My fiance works full time so that helps quite a bit 🙂

 

[WVUPharm2007]

My parents couldn't give me a dollar to save my life. However, me and my wife were so damn poor that the gov't probably paid half of our combined college costs in grants. My wife is an out of state student for 6 years and only owes like $70k or something...it should be like $150k or more. I got some grants, too...not as many though.

so, in theory, all y'all rich kids' parents paid for my education, too. Haha.

 

[SHC1984]

My rent and food will be covered by the aunt I will be living with. I am accepting ALL the loans with NO interest during school and my parents might chip in so I can avoid taking out loans that has interest accuring during school.

 

[GoldfishPharmD]

My parents didn't pay for my undegrad degree. I qualified for a full scholarship because of my dad being in the military, but it didn't come out of his pocket. They gave me money here and there when I asked/needed it though. They also paid for the application process, my interviews, and deposit. They're paying for me to get situated in my new place, but everything else is on my own. I'm taking out all the loans the school offered me. I'm not living in an expensive area, so it'll get me through without having to work (but I might work anyways). I'm sure if I ask my parents for some money here or there, they'd give it to me.

 

[SHC1984]

My parents didn't pay for my undegrad degree. I qualified for a full scholarship because of my dad being in the military, but it didn't come out of his pocket. They gave me money here and there when I asked/needed it though. They also paid for the application process, my interviews, and deposit. They're paying for me to get situated in my new place, but everything else is on my own. I'm taking out all the loans the school offered me. I'm not living in an expensive area, so it'll get me through without having to work (but I might work anyways). I'm sure if I ask my parents for some money here or there, they'd give it to me.

I am in a similar situation as you, but I think its a good idea to work b/c it will increase your chances of getting a job when you graduate. With the huge surplus of pharmacist out there, it would suck to be left without a job or end up working in most ghetto Walmart in your state!

 

[GoldfishPharmD]

I am in a similar situation as you, but I think its a good idea to work b/c it will increase your chances of getting a job when you graduate. With the huge surplus of pharmacist out there, it would suck to be left without a job or end up working in most ghetto Walmart in your state!

True, but I'm not planning to go into retail. I'm hoping to do a residency after I graduate. That's what I'm working towards now, not to say plans won't change later in the future. I'm still debating on this first year of working, but I plan to work full-time next summer and part time during P2.

 

[SHC1984]

True, but I'm not planning to go into retail. I'm hoping to do a residency after I graduate. That's what I'm working towards now, not to say plans won't change later in the future. I'm still debating on this first year of working, but I plan to work full-time next summer and part time during P2.

If thats the case then you can always quit if the workload gets too overwhelming! the only reason to work during pharm school is to secure your spot in the future.

 

[WVUPharm2007]

the only reason to work during pharm school is to secure your spot in the future.

Damn, really? ****...I wish I would have known my rent, car insurance, gas, electric, and so on were apparently paid for. I wouldn't have worked...ever.

 

[confettiflyer]

Undergrad: my parents told me in high school that they'd pay for my BS degree and associated expenses. So I got a BS degree and a condominium (instead of rent) + expenses paid. I have $15k in student loans @ 2.625% that I'll just pay myself later on, my parents have already given me enough.

Pharm school: my parents said I'm on my own, BUT they're down to help with misc. bulk expenses (moving, security deposits, etc...) and travel back home. We rented out the condo and I'm using some of that rent money to cover expenses while they cover the mortgage.

 

[SHC1984]

Damn, really? ****...I wish I would have known my rent, car insurance, gas, electric, and so on were apparently paid for. I wouldn't have worked...ever.

hahaha...No one is paying for my rent. The only reason I don't have to pay rent is b/c I am living with my aunt while I am in pharmacy school. At least you have your OWN apartment while in school. I will be living with my aunt (aka no boys allowed to sleep over. 🙄 It will take some getting use to b/c I lived by myself in Undergrad)

My car is already paid for in full.

My parent pays for my car insurance and cellphone bill b/c I am on their insurance policy and we have a family plan with Sprint for the cellphones...so its nothing special.

I will be paying for my own gas and some food. If I eat out I pay, if I come home and eat my aunt cooks and pays.

 

[Transformer]

Undergrad: my parents told me in high school that they'd pay for my BS degree and associated expenses. So I got a BS degree and a condominium (instead of rent) + expenses paid. I have $15k in student loans @ 2.625% that I'll just pay myself later on, my parents have already given me enough.

Pharm school: my parents said I'm on my own, BUT they're down to help with misc. bulk expenses (moving, security deposits, etc...) and travel back home. We rented out the condo and I'm using some of that rent money to cover expenses while they cover the mortgage.

Undergrad:
My parents told me I'm on my own. Scholarships, Grants, and Federal Loans covered it all. After graduation, I paid off my car and my undergrad loans working as a pharmacy tech and retaking classes at the same time.




Pharmacy school:
My parents told me I'm on my own. With whatever money I can make and save up right now, I use that for my moving expenses and school deposit payments. Frankly, it's really hard trying to make it work financially on your own. I don't have much of a choice, but somehow I make it work and so can you. 🙂

 

[confettiflyer]

Pharmacy school:
My parents told me I'm on my own. With whatever money I can make and save up right now, I use that for my moving expenses and school deposit payments. Frankly, it's really hard trying to make it work financially on your own. I don't have much of a choice, but somehow I make it work and so can you. 🙂

I'd just like to tell the everyone that Transformer's gotta be one of the hardest working people on this forum, I think his work ethic/personal situation and what he's doing about it would get a thumbs up from WVU. Just thought I'd share 👍

Goodluck cuz NYC is one expensive mother****er. Just remember to cook your own food.

 

[grizzlesgrizzlies]

Rx school: my parents only covered for stuff like text books and some living expenses. most of my tuition is through loans + some scholarships.

i consider myself lucky b/c i only have 60k in loans...

btw confetti, speaking of food, we went to that capogiro gelato place in philly over the weekend. it was pretty good

 

[Kirbypuff]

My mom told me to assume that they're paying for half of everything. However, I keep a mentality that I'm paying for it all, because you never know what's coming in the future. I took out all the decent student loans I could because in case something goes awry with the family finances, I can hang onto student loan forgiveness periods instead of foreclosing on our home or something. If our family financial situation gets better, there is a chance that my parents will pay all my loans. If it gets worse, there is a chance that I will pay for everything. You never know what changes your life will bring.

 

[Ephany]

Not a penny towards my undergrad or my pharmacy school. We were in that zone of 'too rich for financial aid (except for loans) and too poor to actually pay for schooling'. I've managed, did my stint in the Navy and am putting my GI Bill to good use along with working.

 

[confettiflyer]

Rx school: my parents only covered for stuff like text books and some living expenses. most of my tuition is through loans + some scholarships.

i consider myself lucky b/c i only have 60k in loans...

btw confetti, speaking of food, we went to that capogiro gelato place in philly over the weekend. it was pretty good

geez 60k loans? i'm about at that point now (undergrad + P1), this is what i get for going to a private school =(

Good thing I didn't really buy books last year.

Man, I should invite you out here for dinner at Morimoto and hand you the bill. Shoot, I'm from California, I'll give you an IOU

 

[Kirbypuff]

geez 60k loans? i'm about at that point now (undergrad + P1), this is what i get for going to a private school =(

Good thing I didn't really buy books last year.

Man, I should invite you out here for dinner at Morimoto and hand you the bill. Shoot, I'm from California, I'll give you an IOU

Did someone say Morimoto? :: drool :: =D<--- food goes in here!
I wish I could eat there everyday.... too bad I don't have $300 to drop on dinner. 🙄

Also, I pulled off the buy no textbooks and get an A scheme for undergrad, but is it really possible at Jefferson?

 

[charfdorn]

Nothing at all. I am a fully independent student, though. I should point out that nothing really means nothing, so I have to pay the following:
Mortgage payment
Car payment
Car insurance
Phone and internet
Utilities
Water
Cell phone
Health insurance
Food
Clothes
Books
Tuition
Coffee and energy drinks

Well, you get the picture. If your parents are chipping in for ANYTHING, please remember to thank them!

 

[Maxpwer222]

Coffee and energy drinks

I personally found just taking a caffeine pill is much better then coffee/pop. 😀

 

[confettiflyer]

Did someone say Morimoto? :: drool :: =D<--- food goes in here!
I wish I could eat there everyday.... too bad I don't have $300 to drop on dinner. 🙄

Also, I pulled off the buy no textbooks and get an A scheme for undergrad, but is it really possible at Jefferson?

Yup, haha... actually I lied, I bought the pathophysiology and pharmacology/therapeutics textbooks just cuz i wanted them for reference. At least for the pathophysio book...that really wasn't used that much, I usually looked stuff up online.

Then I bought the med chem book thinking I'd want it as a reference, but I ended up selling it for more than I bought it on half.com....so I consider that one even.

 

[Transformer]

I'd just like to tell the everyone that Transformer's gotta be one of the hardest working people on this forum, I think his work ethic/personal situation and what he's doing about it would get a thumbs up from WVU. Just thought I'd share 👍

Goodluck cuz NYC is one expensive mother****er. Just remember to cook your own food.

You flatter me Confetti...

I'm sure there are many hard working students on this board who work just as hard or even harder than me. I consider myself one of the lucky ones who got accepted somewhere this year; although, I was fully ready to apply for the 4th time.

NYC will be expensive. The first month's rent and housing deposit already has my bank account down to near zero; and I'm not even at NYC yet. I was thinking about getting a second tech job, but no company is willing to train someone who is leaving in a month.

Confetti is right. I have to cook my own food right now or I won't be able to pay another 2k, (the 3rd school deposit). 6k has got to be highest school deposit I've heard of for pharmacy school deposits.

 

[homeslice]

Slightly off topic, but has anyone else looked at the tuition increases for their school for the past few years? For the school I'm going to tuition has went from $10,800 to almost $19,000 in just the last six years . Who knows, maybe that's normal, although that's twice as much of an increase over the med school tuition here in the same time frame. I guess the pharmacy boom is to blame. But I suppose I shouldn't complain, I could be paying 40k+/year in tuition alone to go to a private school.

 

[atticus27]

For undergrad I owe about 20k. (Not too shabby)


For pharm school I'm looking at 180k. (sucks, but whatever)


Yep, I'll be whoring myself out to Ms. Retail the day I get licensed.

 

[diastole]

geez 60k loans? i'm about at that point now (undergrad + P1), this is what i get for going to a private school =(

Good thing I didn't really buy books last year.

Man, I should invite you out here for dinner at Morimoto and hand you the bill. Shoot, I'm from California, I'll give you an IOU

I finally got around to applying for my loans. I'm applying for 60K just for this year. Ouch. Hopefully my husband will find work soon so I can decline the GradPLUS loans. I think I'm going to die in debt if I have to take out 60K each year. It's starting to look like it would have been a better financial decision to remain a teacher. That's just sad.

 

[Sparda29]

I'm on my own, well technically Uncle Sam is providing me with money that I'll eventually pay back. Taking out more than I need though.

 

[confettiflyer]

I finally got around to applying for my loans. I'm applying for 60K just for this year. Ouch. Hopefully my husband will find work soon so I can decline the GradPLUS loans. I think I'm going to die in debt if I have to take out 60K each year. It's starting to look like it would have been a better financial decision to remain a teacher. That's just sad.

Well, look at it this way...you won't have to buy a house because you'll essentially have a mortgage by the time you graduate! ok ok that's not that funny but yeah, next to a mortgage, you'll never get to borrow this much money at these interest rates ever again!

Confetti is right. I have to cook my own food right now or I won't be able to pay another 2k, (the 3rd school deposit). 6k has got to be highest school deposit I've heard of for pharmacy school deposits.

Geez, that is a ton of deposits. Wonder if you can ask for a hardship waiver since you won't get your fin-aid disbursement until school starts. I should link that "cost of food" discussion in this thread, even I found that thing helpful (if anything, to motivate me to cook more).

Might be wise to open a credit card to catch unknown/misc expenses from the relocation...they invariably come up. Just pay it off come fall when fin aid comes in.

 

[diastole]

Well, look at it this way...you won't have to buy a house because you'll essentially have a mortgage by the time you graduate! ok ok that's not that funny but yeah, next to a mortgage, you'll never get to borrow this much money at these interest rates ever again!

Funny you say that. When I decided to go back to school a couple years ago, the original plan was to fund my schooling with a home equity loan. I easily had enough equity to pay for school. Now my house is worth less than I paid for it. It is kind of surreal watching all that paper wealth evaporate to be replaced with real debt.

 

[117296]

Absolutely nothing for either undergrad or pharmacy school...they can't afford it.

Even if they could, I don't know that I would accept it. Call me crazy, but I think there is something to be said about being financially independent.

I understand the amount of loans I will need to pay back and how long it will take me. Then again, I don't care about personal wealth as much as most people on this board.

 

[confettiflyer]

Funny you say that. When I decided to go back to school a couple years ago, the original plan was to fund my schooling with a home equity loan. I easily had enough equity to pay for school. Now my house is worth less than I paid for it. It is kind of surreal watching all that paper wealth evaporate to be replaced with real debt.

are you renting your home out or is it owner-occupied & near your school? i haven't really kept track if you've posted before (yeah yeah sorry).

well look at it this way (my constant search for a silver lining)...sure you lose the tax deduction, but your student loan rates (6.8% for federal stafford) are not much more than that of a HELOC (~5% or so). And hey, if you have trouble paying, you can request a forbearance. Chances are, that same situation would mean foreclosure & ruined credit had you drawn down your home equity.

 

[confettiflyer]

Even if they could, I don't know that I would accept it. Call me crazy, but I think there is something to be said about being financially independent.

I understand the amount of loans I will need to pay back and how long it will take me. Then again, I don't care about personal wealth as much as most people on this board.

Right, but an 18 year old facing large tuition bills is hardly in the position to be self supporting.

I think "financial independence" at such an age is overrated, I'll explain this statement in a second. My family is pretty tight knit, as such, our finances are similarly tied. If I make money, the "family" makes money; if my net worth increases, my "family's" net worth increases.

Conversely, if I spend six years to get a BS degree, have to work in the process, pay for a junk car to get around, etc... all in the name of "financial independence" such a situation can be negative for the family. This is not to undermine anyone who has faced such a situation, but it's well documented that those that are "poor" generally pay more for things (see recent Washington Post article).

Think about it...you'll end up paying in repairs/lost time for that car; if you live in a cheap apartment, you waste time doing laundry at a laundromat; spending 6 years to get a degree that takes 4 costs you 2 years of salary as an opportunity cost. Things just cost more over time when you have to lower your daily/monthly costs...like getting a 30yr vs. a 15yr mortgage, or moving to a cheaper location and commuting, you end up spending what you saved on gas/vehicle wear and tear.

Tying this together, because it costs you more money, it costs the family more money. If your parents are sitting on a pile of cash or are generally able to help you out, why not take it? You avoid the increased costs that "going independent" entails.

I understand the issue with the potential for spoiling kids and bailing them out well into their mature careers, but when done correctly, I think parental help can be constructive and money-saving for everyone.

 

[Sparda29]

Ugh, don't talk to me about debt. I think I'm going to be $300K in debt by the time pharmacy school is done, without counting interest. 😱


Would it be easier to just pay all the loans back, and live meagerly? Or default on all the loans, ruin the credit history, and then face the piper for defaulting?

Edit - Hmm, just read that if you default you might not be able to renew the professional licenses that you hold, and that they can sue you, garnish wages, etc.

What is that word called when basically you are eliminated of debt, but you ruin your credit history?

 

[SHC1984]

Rx school: my parents only covered for stuff like text books and some living expenses. most of my tuition is through loans + some scholarships.

i consider myself lucky b/c i only have 60k in loans...

btw confetti, speaking of food, we went to that capogiro gelato place in philly over the weekend. it was pretty good

R you a GA resident? If you are...you could have done the 2+4 year at UGA, be on the GA Hope scholarship and come out with lNO loans.

 

[SHC1984]

Ugh, don't talk to me about debt. I think I'm going to be $300K in debt by the time pharmacy school is done, without counting interest. 😱


Would it be easier to just pay all the loans back, and live meagerly? Or default on all the loans, ruin the credit history, and then face the piper for defaulting?

Edit - Hmm, just read that if you default you might not be able to renew the professional licenses that you hold, and that they can sue you, garnish wages, etc.

What is that word called when basically you are eliminated of debt, but you ruin your credit history?

300K? I don't even know if its possible to pay that amount back with a pharmacist salary.

You could always MOVE to another country and never come back to the USA.

 

[grizzlesgrizzlies]

geez 60k loans? i'm about at that point now (undergrad + P1), this is what i get for going to a private school =(

Good thing I didn't really buy books last year.

Man, I should invite you out here for dinner at Morimoto and hand you the bill. Shoot, I'm from California, I'll give you an IOU

let me know when you will be back in philly...

 

[homeslice]

Ugh, don't talk to me about debt. I think I'm going to be $300K in debt by the time pharmacy school is done, without counting interest. 😱


Would it be easier to just pay all the loans back, and live meagerly? Or default on all the loans, ruin the credit history, and then face the piper for defaulting?

Edit - Hmm, just read that if you default you might not be able to renew the professional licenses that you hold, and that they can sue you, garnish wages, etc.

What is that word called when basically you are eliminated of debt, but you ruin your credit history?

Bankruptcy? But that doesn't get rid of student loans, so probably not.

I thought I heard of something where if you make the minimum payment on time every time for a certain period on a loan (20 years?), then you don't have to pay the rest. But I believe it only applies to federal loans. And I don't know if it has gone into effect yet.

 

[117296]

Right, but an 18 year old facing large tuition bills is hardly in the position to be self supporting.

I think "financial independence" at such an age is overrated, I'll explain this statement in a second. My family is pretty tight knit, as such, our finances are similarly tied. If I make money, the "family" makes money; if my net worth increases, my "family's" net worth increases.

Conversely, if I spend six years to get a BS degree, have to work in the process, pay for a junk car to get around, etc... all in the name of "financial independence" such a situation can be negative for the family. This is not to undermine anyone who has faced such a situation, but it's well documented that those that are "poor" generally pay more for things (see recent Washington Post article).

Think about it...you'll end up paying in repairs/lost time for that car; if you live in a cheap apartment, you waste time doing laundry at a laundromat; spending 6 years to get a degree that takes 4 costs you 2 years of salary as an opportunity cost. Things just cost more over time when you have to lower your daily/monthly costs...like getting a 30yr vs. a 15yr mortgage, or moving to a cheaper location and commuting, you end up spending what you saved on gas/vehicle wear and tear.

Tying this together, because it costs you more money, it costs the family more money. If your parents are sitting on a pile of cash or are generally able to help you out, why not take it? You avoid the increased costs that "going independent" entails.

I understand the issue with the potential for spoiling kids and bailing them out well into their mature careers, but when done correctly, I think parental help can be constructive and money-saving for everyone.

I mostly agree with your statements, with the caveat that they come from your POV.

I know that my parents cannot help me at all (I do their taxes every year, so I am sure of this...), but I do have three close relatives that could pay off my entire loan balance if they so chose. (Considering I attend a decently expensive private pharmacy school, my loan balance when I am finished will be decently north of 200K.) I have never asked these relatives, nor do I plan to in the future. Sure, it would save thousands of dollars (maybe even tens of thousands) in interest.

However, in my situation, I do not believe it is warranted for me to ask a relative to pay off my loans with the stipulation that I would pay them back.
I will live in a rural area after graduation if at all possible, where there are smaller commutes and generally a smaller cost-of-living. Here's where I diverge from your line of thinking: I do not view school as an "opportunity cost." Sure, I could be doing something else, but I'm not, so why quantify said cost? I also do not feel that you could prove that every family is as close-knit as your own. My family will still have the same mortgage and the same bills regardless of my loan status while I am in school. I can still be happy knowing my net worth is smaller than it could have been.

Ultimately, I think we have differing beliefs on this issue.

 

[SHC1984]

Bankruptcy? But that doesn't get rid of student loans, so probably not.

I thought I heard of something where if you make the minimum payment on time every time for a certain period on a loan (20 years?), then you don't have to pay the rest. But I believe it only applies to federal loans. And I don't know if it has gone into effect yet.

really???? if thats the case EVERYONE would do that and the government will go bankrupt. How can the government afford for everyone do to that? Not to mention aren't you required to pay back all your loans in 10 years anyways?

 

[117296]

really???? if thats the case EVERYONE would do that and the government will go bankrupt. How can the government afford for everyone do to that? Not to mention aren't you required to pay back all your loans in 10 years anyways?

Because making the minimum payment on your loans on time for 25 years would pay off 95%+ of student loan balances out there.

A borrower hasn't been required to pay their loans back in 10 years time for quite a while under the Income Contingent Plan. Under this plan, it is up to 25 years.

 

[diastole]

are you renting your home out or is it owner-occupied & near your school? i haven't really kept track if you've posted before (yeah yeah sorry).

well look at it this way (my constant search for a silver lining)...sure you lose the tax deduction, but your student loan rates (6.8% for federal stafford) are not much more than that of a HELOC (~5% or so). And hey, if you have trouble paying, you can request a forbearance. Chances are, that same situation would mean foreclosure & ruined credit had you drawn down your home equity.

I'm going to be renting the home out and hopefully we'll rent it out for something close to the amount of our mortgage. Since we lost nearly all of our equity and have no employment between the two of us, we can't buy another home. We are going to rent it out and at least have a home to return to in two or three years, assuming my husband isn't out of work too long and we can actually pay the mortgage. Depending on his job situation, I might very well end up owing more debt for my student loans than I will on my mortgage. If that comes to pass, I'll be sure to tell the neighbors that I'm worth more than the house. 😛

 

[diastole]

Because making the minimum payment on your loans on time for 25 years would pay off 95%+ of student loan balances out there.

A borrower hasn't been required to pay their loans back in 10 years time for quite a while under the Income Contingent Plan. Under this plan, it is up to 25 years.

Isn't there a plan out there where you can work for a non-profit or public service job and have your loans forgiven after ten years? Does that apply to pharmacists?

 

[confettiflyer]

I mostly agree with your statements, with the caveat that they come from your POV.

I know that my parents cannot help me at all (I do their taxes every year, so I am sure of this...), but I do have three close relatives that could pay off my entire loan balance if they so chose. (Considering I attend a decently expensive private pharmacy school, my loan balance when I am finished will be decently north of 200K.) I have never asked these relatives, nor do I plan to in the future. Sure, it would save thousands of dollars (maybe even tens of thousands) in interest.

However, in my situation, I do not believe it is warranted for me to ask a relative to pay off my loans with the stipulation that I would pay them back.
I will live in a rural area after graduation if at all possible, where there are smaller commutes and generally a smaller cost-of-living. Here's where I diverge from your line of thinking: I do not view school as an "opportunity cost." Sure, I could be doing something else, but I'm not, so why quantify said cost? I also do not feel that you could prove that every family is as close-knit as your own. My family will still have the same mortgage and the same bills regardless of my loan status while I am in school. I can still be happy knowing my net worth is smaller than it could have been.

Ultimately, I think we have differing beliefs on this issue.

Yeah it's a total philosophical thing, I'm trenched in, it's like arguing Mac vs. PC.

But I do agree that asking relatives for cash is a bit tacky, even I don't ask my parents for money outright, they just have an innate understanding of what's going on and how much things cost. I'm not fully employed, incurring debt, but on track to make a decent amount of money in 4 years time...it's easy to put 2 + 2 together. As an undergrad, they asked how I was doing with money, I'd mention major expenses coming up (deposits, repairs, etc...) and we'd budget accordingly.

The reason why I say school is an opportunity cost is, in that example of the 4 vs. 6 years on a bachelor's degree, those 2 years would hold you back. It's why the math pans out for pharm students taking out loans to pay for school vs. spending years saving up for school. If you can take a no/low interest loan from your parents to wrap up school in 4 yrs, you'll be two years ahead of the person who worked 40hrs a week making $10hr/went to school part time and took 6 years. If it's something like nursing, two years is a substantial amount of money.

That's why I make the case that financial independence for the sake of financial independence ends up costing more over the long term. I've seen stupid friends move out/get jobs/attempt to support themselves only to rack up debt covering unplanned expenses and end up moving back home. I mean, if your family really has a hardship and there's no other choice, more power to you...do what you need to do. I'd even argue that person will have a better handle/understanding of money later on than us quasi-spoiled students who get things paid for.

But yeah, everything is situational, especially with finances and family dynamics, each and every single person out there is going to have a different experience.

 

[117296]

Isn't there a plan out there where you can work for a non-profit or public service job and have your loans forgiven after ten years? Does that apply to pharmacists?

Practicing pharmacy is not a non-profit job or a public service according to the government, as far as I know.

 

[117296]

I'm going to be renting the home out and hopefully we'll rent it out for something close to the amount of our mortgage. Since we lost nearly all of our equity and have no employment between the two of us, we can't buy another home. We are going to rent it out and at least have a home to return to in two or three years, assuming my husband isn't out of work too long and we can actually pay the mortgage. Depending on his job situation, I might very well end up owing more debt for my student loans than I will on my mortgage. If that comes to pass, I'll be sure to tell the neighbors that I'm worth more than the house. 😛

LOL. Not funny, but still....

 

[atticus27]

I have Grandparents who are sitting on a piles of dough. And they give out not a damn thing to the only college grad let alone professional student in the entire family history. lol We'll see who goes to visit you're ass in the nursing home ya old tight ass bag a bones.

 

[crazybob]

i'm on my own with the tuition and fees for school, which i'm paying with loans.

since i'm living at home the first year, i think my parents are helping with living costs and food, even though they don't live together. i'm sort of like an only child.