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How much debt will you be in before you start medical school?

Discussion in 'Pre-Medical - MD' started by Led Zep, Jul 26, 2011.

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How much debt will you have before starting medical school?

  1. 0- $10,000

    194 vote(s)
    53.2%
  2. $10,001-$20,000

    43 vote(s)
    11.8%
  3. $20,001-$40,000

    46 vote(s)
    12.6%
  4. $40,001-$60,000

    31 vote(s)
    8.5%
  5. $60,001-$80,000

    19 vote(s)
    5.2%
  6. $80,001-$100,000

    14 vote(s)
    3.8%
  7. $100,001-$150,000

    11 vote(s)
    3.0%
  8. $150,001+

    7 vote(s)
    1.9%
  1. Led Zep

    2+ Year Member

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    Just curious to see where others are at these days. I'll be starting medical school with ~50k in debt from undergrad (and believe me I feel fortunate about that number!!)

    The grand total when I'm finished with med school will no doubt be around 300k... :eek: (probably worse when you consider the interest that will be applied)
     
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  3. Tapepsi

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    Debt now: 20k

    Estimated debt after med school: ~240K (excluding interest and assuming tuition increases every year since my school doesn't lock in tuition).

    I don't know why I was under the impression that the tuition stays the same all 4 years. Barely any schools lock in tuition.
     
  4. Charles Darwin

    Charles Darwin KFBR392

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    Undergrad: ~110k
    Med School: ~200k (?)

    Total: ~310k
     
  5. Led Zep

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    ....Not to mention compounding interest as you go :(
     
  6. StephanieZ

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    Wow, I feel so fortunate to have escaped undergrad with only about $10,000 in debt.
     
  7. Stumpyman

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    My parents are supporting me (mostly) throughout undergrad, but I'm on my own when it comes to med school.
     
  8. Mithril

    Mithril Johnny Canuck
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    $0 in undergrad.

    $100k debt in med school ($15k tuition, $10k living expenses per year).

    :D
     
  9. elosangeles

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    not sure yet. my first two years have been covered so far. my next two years of undergrad i am also getting fafsa being covered for all tuition. im in the UC system, dont know how that correlates to anything but i am fortunate and still struggle every day financially. some days its just beans and egg whites and spinach. nonetheless i feel very fortunate and i am so happy i can continue education and teach others from my struggles and motivate others as well.
     
  10. tn4596

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    holy crap, 150k debt...what did you guys do in undergrad...
    i will have about 8k...
     
  11. Person0715

    Person0715 Socially awkward
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    I don't really like current mentality about taking out loans for undergrad. Many people believe that you can take borrow enormous amounts for a bachelor's and it will be okay because you will have gone to college at the end of it all. My parents think the same way, but I keep telling them that that is no longer the case. These days, they give a bachelor's out to just about anyone. I don't think there are any problems with taking out a moderate sized loan, like less than 20k or so, but once loans start reaching 50k, it gets very worrisome.
     
    #10 Person0715, Jul 27, 2011
    Last edited: Jul 27, 2011
  12. Web MD

    Web MD Doctor of the Internets
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    $0. If you count library fines, $18
     
  13. MrLahey

    MrLahey Trailer Park Supervisor
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    Thank god for generous full in state scholarships....and my mom and dad
     
  14. Procyon

    Procyon Space Cowboy
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    You guys are lucky that your parents help you. I'm on my own for undergrad as well as med school, so I'll probably have 30-40K before I even start medschool. (Doesn't help that my undergrad is an overpriced private school, but it was a convenient choice at the time.)
     
  15. Web MD

    Web MD Doctor of the Internets
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    There's only been one person that said their parents were paying their way
     
  16. CodeBlu

    CodeBlu Dream Weaver
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    $0 Dollars in debt!

    Thank you scholarship! And awesome summer jobs!
     
  17. MediCynical

    MediCynical Custom User Title
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    After undergrad: $0 :cool:

    1 year after SMP (now): $24k :oops:

    Med school: $200-210k :(

    +interest :eek:
     
  18. theacks1

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    Tuition, housing, fees, etc at state flagship: $8,500/semester
    Total scholarships from said school: $10,000/semester

    And then my senior year I decided to do the relatively walkable commute from home....
     
  19. Staradmiral

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    $0. Full Scholarship. Tutoring part time covered all my living expenses.
     
  20. Staradmiral

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    My school has fixed tuition for each incoming year. Upon admission they tell you what you will pay each year and that is guaranteed and does not change. Any increases in tuition will only affect the next set of students. i'm in first year now and know what i will pay in 4th year. if 4th year tuition increases it will affect the year after me
     
  21. unhappytnt

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    Around $10K.
     
  22. Truzzi

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    Full ride for undergrad, so $0. Very blessed and fortunate.
     
  23. BuffNerd

    BuffNerd ____________

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    Full Ride for undergrad + working as an RA/ in a lab = made ~7,000/year going to undergrad!! :D

    Also, my wise/generous parents saved enough for my undergrad so that will go towards my med school costs...I wouldn't be surprised if I need to take out a small loan at some point though...
     
  24. NickNaylor

    NickNaylor Thank You for Smoking
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    I only had to take out loans for my last year, so I've got about $7k in Stafford loans.

    I feel sorry for the people that have six figures of undergrad debt. What a waste IMO.
     
  25. BuffNerd

    BuffNerd ____________

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    I agree...The scholarships were a large part of my undergrad choice because I knew I would be pursuing grad school of some sort (didn't think med though...)
     
  26. Geekchick921

    Geekchick921 Achievement Unlocked: MD
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    I assumed you just meant undergrad debt, so that's what I voted. If our mortgage was factored into this, I'd have chosen the last option.
     
  27. blizzah

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    0$ of undergrad.

    Lots of research income+Scholarship+Parents
     
  28. Gigantron

    Gigantron Robot
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    Derp. Misread the thread title.

    $0
     
  29. Frazier

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    What is zero dollars.
     
  30. 1TB4RKSB4CK

    1TB4RKSB4CK wussup doge
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    Prob around 40k since I'm attending NSU for undergrad. Was planning to go to UF for transfer until I found out I took 6 credits that didn't count for transfer so I was 3 credits shy of transfer. On a good note, I had my first 2 years at Broward College for free.
     
  31. Voevoda

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    Hopefully none.
     
  32. Frazier

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    lucky sobs
     
    #31 Frazier, Jul 27, 2011
    Last edited: Apr 7, 2012
  33. Elpenor

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    0-10k for sure
     
  34. MedAdComMD

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    http://thechoice.blogs.nytimes.com/2010/10/22/debt-3/

    Average debt for undergrad is 25K

    I chose a public state university for my education and still ended up with 30K in debt.

    Average state university costs at least 20K in total expense/year, that is 80K over 4 years. If you don't have a full-ride scholarship (only very few are awarded each year), what summer/part time job would possibly cover that?
     
  35. phunkeyfantom

    phunkeyfantom What are words for when no one listens anymore?
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    I have no debt. I worked for 2.5 years paying back every penny I owed. The best feeling in the world was making that final loan payment and getting that piece of paper that said thank you and congratulations for having completed all of your payments. I was smiling from ear to ear because of that one.
     
  36. Kangaroo Paw

    Kangaroo Paw Sha-boing, BOING.
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    Wow, you guys have in good in terms of debt. I'm lucky that my parents are paying for college (they won't pay for med school), but I'll be over 150k in debt by the time I'm done. I got royally screwed over this year by the financial aid office, so my parents are probably going to be in debt for the rest of their lives. I'd better LOVE my classes next semester...
     
  37. drdude90

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    Am I the only one whose parents will cover all undergrad and med school costs including living expenses?
     
  38. Frazier

    Frazier Emergentologist
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    Yes, this too. Nice save! :smuggrin:
     
  39. 45408

    45408 aw buddy
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    I had around $10K.
     
  40. gasbait

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    I think I'm pretty lucky when it comes to tuition. My college only costs ~two thousand a year, and my work-study, if I get it, will pay about 3200 a year.
     
  41. BB760

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    None thanks to parents a scholarship... Thanks Dad
     
  42. TheMightySmiter

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    To all you guys whose parents paid for your undergrad---*shakes first* No, I kid, I kid. :D My parents weren't able to contribute but they certainly would have if they'd been financially able to. I can't complain, because I was lucky and got a buttload of financial aid through my private school. Every loan I took out was federally subsidized, though I'll still have $18,000 worth of loans after undergrad and state school post-bacc. It's pennies compared to what med school debt will be. Also, because my undergrad loans are subsidized, they won't accrue interest while I am in med school.
     
  43. wat
    i thought you can freeze the interest if you are a full time student
     
  44. TheMightySmiter

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    Only for subsidized loans, I believe.
     
  45. oh okay, thank you for clearing up my misunderstanding.
     
  46. TribalSeeds

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    Probably around 100k for undergrad :( Made some bad decisions.
     
  47. bookfreak89

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    Well, you certainly aren't in the majority.
     
  48. TheMightySmiter

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    Uh...just about...what do your parents DO? :eek: How can they afford to pay 60k+ out of pocket PER YEAR for you to go to medical school?
     
  49. Led Zep

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    My undergrad debt was only about 25k, but now I'm doing a 1 year SMP which is going to drive that up to about 50k. Kinda hate to think about it, but we all do what we have to do.
     
  50. buttahz

    buttahz 90% lurker, 10% poster
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    About $15k in Stafford loans. After my scholarship, I pay half and my parents cover half. And I commute and ask my relatives to pay for my textbooks instead of giving me birthday and christmas gifts xD. Nothing a decent summer job can't handle.
     
  51. Led Zep

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    That's actually a clever strategy to have your relatives buy books for you, well done.
     

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