How much do you expect to have in loan?

[Dr.Biassi]

Hey guys I'm just curious about the debt people are actually thinking about cumulating in pharmacy school. Please submit you pool vote

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[Farmercyst]

Hey guys I'm just curious about the debt people are actually thinking about cumulating in pharmacy school. Please submit you pool vote

It's going to vary greatly by state. I plan to attend in So Cal, but my debt will hopefully similar to other state schools since I've got some initial savings to draw upon.

 

[dgroulx]

I just did my online exit counseling for student loan repayment. I had some smaller loans in undergrad, plus 4 years of pharmacy school where I took out $18-19k per year. After accruing interest, my final debt is $102,000. Luckily, I consolidated $60k of my loans over a year ago and locked in a 2.75% interest rate. The other $40k is variable. My projected payments are $1,150 per month over 10 years. If I spread it out to 30 years, I'll pay an extra $100k in interest, so I'll probably use the standard 10 year payment plan.

 

[Dr.Biassi]

I just did my online exit counseling for student loan repayment. I had some smaller loans in undergrad, plus 4 years of pharmacy school where I took out $18-19k per year. After accruing interest, my final debt is $102,000. Luckily, I consolidated $60k of my loans over a year ago and locked in a 2.75% interest rate. The other $40k is variable. My projected payments are $1,150 per month over 10 years. If I spread it out to 30 years, I'll pay an extra $100k in interest, so I'll probably use the standard 10 year payment plan.

Thanks a lot. Gave us the newbies that are going to start to play smart. My school is like 45K a year. I guess I will have double of your total loan and on top of that i'm out of state.

 

[Rumplestiltazepam]

Maybe that wonderful 2.75% will come around again toward end of pharmacy school for me....

 

[patmcd]

Maybe that wonderful 2.75% will come around again toward end of pharmacy school for me....

Supposedly stafford loan rates are going to be coming back down.

 

[sputnik25]

Can I consolidate my loans from undergrad before I start Pharmacy School or should I wait until I get done with school

 

[dgroulx]

Can I consolidate my loans from undergrad before I start Pharmacy School or should I wait until I get done with school

Wait until the interest rate drops, then consolidate them with your pharmacy loans.

 

[terse]

I just did my online exit counseling for student loan repayment. I had some smaller loans in undergrad, plus 4 years of pharmacy school where I took out $18-19k per year. After accruing interest, my final debt is $102,000. Luckily, I consolidated $60k of my loans over a year ago and locked in a 2.75% interest rate. The other $40k is variable. My projected payments are $1,150 per month over 10 years. If I spread it out to 30 years, I'll pay an extra $100k in interest, so I'll probably use the standard 10 year payment plan.

Pay off that $40K first, and take your time with the rest since the interest rate is SO low. You can gain 5.05% with just a savings account (HSBC, Citi) so no need to pay if off early.

 

[jun99]

How depressing: it would take me two whole years working as a pharmacist, contributing 100% of my earnings toward loans, to pay off pharmacy school with interest....even longer, since a large chunk of that income would be taxed.

 

[omnione]

Fortunately, my scholarships got me through undergrad without any loans so I'm looking at loans just to cover pharmacy school. Creighton says that my estimated cost of attendance is $47,044.00 a year However, that is just a conservative estimate that includes health insurance (my dad's work insurance covers me), transportation (I doubt I will spend $1,200 like Creighton says, probably half), room/board (I might get board, but I'm seriously looking at apartments now), and $2,100 for books (oh, crap).

 

[ageldred]

My school is so slow with their cost of attendance, financial aid, etc. Haven't heard a peep from them. Grr. This is going against my plan ahead mindset.

 

[RX student]

How depressing: it would take me two whole years working as a pharmacist, contributing 100% of my earnings toward loans, to pay off pharmacy school with interest....even longer, since a large chunk of that income would be taxed.

And: What's crap is that we won't get any tax break at the end of the year for paying on student loans b/c we will make over the cut-off amount.

 

[doublehh03]

How depressing: it would take me two whole years working as a pharmacist, contributing 100% of my earnings toward loans, to pay off pharmacy school with interest....even longer, since a large chunk of that income would be taxed.

ucsf estimates the avg student only owes around 70k. ur ok jun.

 

[Dr.Biassi]

And: What's crap is that we won't get any tax break at the end of the year for paying on student loans b/c we will make over the cut-off amount.

If you pay interest you will have a tax break I think!!!!