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How much will you be in debt after medical school ?

Discussion in 'Pre-Medical - MD' started by inkare, Jun 16, 2008.

  1. inkare

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    Hi folks, first off, congrats on your acceptances this year. I thought it would be fun to post how much we will be in debt after medical school. :D

    For me its going to be 180k after 4 years at NYU.
     
    #1 inkare, Jun 16, 2008
    Last edited: Jun 16, 2008
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  3. inkare

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    Siht , just realized i spelled debt as depth ! Can you edit the title of the thread?
     
  4. ACSurgeon

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    After seeing the grin next to your post I thought you typed it wrong on purpose... guess you should have stayed quiet!
     
  5. inkare

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    lol, yeah i know, its really embarrassing now ! :oops: , i think a lot of people are going to be confused on what the thread means.
     
  6. tae1703

    tae1703 Senior Member
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    pretty far in depth i hope
     
  7. RPedigo

    Physician Faculty Moderator Emeritus 10+ Year Member

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    Probably about 150,000 feet.
     
  8. plauto

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    about 180,000 feet unless I can pay some interest as I go
     
  9. ejay286

    ejay286 Member
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    Top choice: 136,000 + 20,000 undergrad debt = $156,000

    Second choice (private school): 220,000 + 20,000 = $240,000
     
  10. RySerr21

    RySerr21 i aint kinda hot Im sauna
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    yes you can edit it your title. but it seems too late, almost everyone has made fun of you for it, haha.
     
  11. bcat85

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    I'm joining the quarter-mil club myself
     
  12. MilkmanAl

    MilkmanAl Al the Ass Mod
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    $110k of undergrad debt plus probably $200k from med school. I'd imagine I'll be $350k under by the time I graduate when you consider interest.
     
  13. pianola

    pianola MS2
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    wow...that's the highest I've ever heard. Best of luck to you.
     
  14. cgbg

    cgbg Eyes of Auslander
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    about 170,000 leagues under the sea.
     
  15. se2131

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    $175,000 , and that's at my cheapest option AND w/ my parents offering to pay $32,000 total (amount of scholarship I got in undergrad which they paid for, they're being very generous in offering to pass these savings to me)
     
  16. MilkmanAl

    MilkmanAl Al the Ass Mod
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    Oh yes, it's gonna be fun.:barf:
     
  17. NJDIF

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    are you living at home or something? if not, are you including books, living expenses, insurance etc? even at my state school, once interest, fees, and living expenses are thrown in to the mix, im still scraping the 200k surface.
     
  18. Captain Fantastic

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  19. se2131

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    Could be getting some financial aid
     
  20. LadyWolverine

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    You have a rather masochistic definition of the word "fun."
     
  21. inkare

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    haha, yeah, thats ok, i think it made the thread more amusing anyways !
     
  22. inkare

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    Yeah, everything they have included in their estimate, housing and food, personal, health insurance, books and supplies .... but not interest ! Just how much I will borrow. Oh and their estimate doesn't include summers, but that is typical of most of the med schools I got a financial aid package from. Its probably lower than what you would expect since they gave me a 15K/year scholarship.

    I do have 15k subsidized loans from undergrad though, GO BEARS !
     
  23. inkare

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    haha, I guess its good to see your not the only one !
     
  24. loganhayes

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    Wow, large amount of debt there.

    In my case, if I take a loan, it will cost $120K.. give or take. Maybe more if I buy a house.
    But in terms of debt, I will have zero. I am a cash person, I hate having debt. But my savings will be reduced by 120K+. Didn't get a scholarship. Oh well.
     
    #23 loganhayes, Jun 16, 2008
    Last edited: Jun 16, 2008
  25. bcat85

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    :smuggrin::smuggrin:
     
  26. spilledmilk

    spilledmilk <3
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  27. katarzyna

    katarzyna neutrino. neutritious?
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    :eek: :eek: :eek:
     
  28. goldenstandard2

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    120k, minus the money I make by moving this brick of yayo from peru = 100kish! hooray for capitalism
     
  29. Depakote

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    I'm probably looking at ~$250K if you factor in my lovely undergrad debt that I brought with me.
     
  30. lord_jeebus

    lord_jeebus 和魂洋才
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    Including my undergrad debt, today I owe 270K. :(
     
  31. crash2500

    crash2500 ASA Member
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    85,000 med school (including interest) + 18,000 from undergrad=103,000
    i win=)
     
  32. NJDIF

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    mazel tov. does NYU have housing or do they have you compete with the undergrads in the village for a place to live?
     
  33. SCRdoc

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    no undergrad debt, so ~ $50,000 or less 'cos of scholarship.
     
  34. plauto

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    talk to a financial person like I did. You'd be wasting a lot of money paying in cash. Instead you can max out your Roth IRA (which you can't do once you have a doctor's income) or do any investment things that will bring you a lot more return than a 6.8% interest saving. Plus if you really don't feel comfortable with the interest pay it as you go so it doesn't capitalize later on.
     
  35. inkare

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    Thanks, the medical campus is in a different location, its around 30th street and 1st Ave. They do have dormitory style housing, its about $620 a month, including all utilities. So it is very affordable for that area.
     
  36. ACSurgeon

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    Not sure that math is sound, because 310K is probably gonna grow more than just 40K. I am actually guilty of using the same "round up" process: I will have 160K + 50K UG and I just approximated 250K after interest!:rolleyes:
     
  37. MilkmanAl

    MilkmanAl Al the Ass Mod
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    Yeah, you're probably right. It's going to be even more fun by the time my residency's done with and I can start paying it back! MMMMMMMMM I loves me that extra 4 years of 8.5% interest.
     
  38. onemoreyear

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    With interest rates of 6.8% (sub) and 8.5% (un-sub and grad plus) my loans should put me about 330k in the hole at the end of my residency (assuming 3 year partial payment deferral). It’s less fun when you calculate what the amount is with interest... School's expensive.
     
  39. se2131

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    Unsubsidized loans still carry a 6.8% interest rate (not 8.5). The difference b/wn sub and unsub is that interest is paid on the subsidized loans during school and periods of deferment, while interest accumulates at all times for unsubsidized loans.
     
  40. WellWornLad

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    Assuming a 10-year payoff starting after residency, and including undergrad, I can pretty much round it up to $500,000.
     
  41. onemoreyear

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    Thanks for catching my typo. Unfortunately my calculation were actually run with the correct rate... Shucks...
     
  42. Paul3788

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    If I had to pay for my own school, I would say 90,000 undergrad + 100K at least from med school. Around 200,000. But I have everything taken care of fortunately...

    But now I sort of want to transfer out of my private university. State schools can save you so much money.

    I feel guilty for wasting my parents money sometimes >.<
     
  43. Luxian

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    <Cough!> What did you do? Work at Google for the last 10 years? Win the lotto? Anyway, congrats!

    I'm happy to currently have no debt (woo-hoo! zero net worth!) and I'll be getting about $200k in debt by the time I finish.
     
  44. etf

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    probably somewhere between 150-200k. hopefully closer to 150..
     
  45. hotpotato1234

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    i'm choosing between two schools that differ in about 15k total (for 4 years), but maybe upwards to about 30k-40k if you include the cost of living. does anyone think this is too much for similarly ranked schools?
     
  46. neurofreak

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    GO BEARS, indeed :D I'm looking at around $90,000-$110,000 (pre-interest, of course) thanks to a generous scholarship. God bless the souls who decided to give me it :hardy:
     
  47. etf

    etf
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    no investment i know of returns a guaranteed 6.8%.
     
  48. DrBowtie

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  49. digitalising

    digitalising Codename: Amistad
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    Probably 220-250k, but tuition by itself will be about 180k. I'm hoping to be able to economize in my elective spending (food, shelter, etc.).
     
  50. 172858

    172858 America = The New Texas
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    150K. It's enough to make me seriously consider turning tricks out on Sunset Blvd. Too bad I'm not attractive enough a guy to make actual money doing so...
     
  51. MsJLewis

    MsJLewis Retired Pre-med
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    Between $90k - $100k (including undergrad debt). Most of it at a 5% interest rate at that.
     

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