I Need Debt Advice

[Mawell11]

Hello...as you can probably tell from the title, I've had the good fortune of being accepted to both Duke and Harvard. Though I know I am blessed to be in such a position, I'm way in over my head and so I have had a very difficult time making up my mind. Basically, Harvard is Harvard, but Duke is giving me a full scholarship. Since I'm not really sure what effect debt has on the future career of a doctor, I am not sure what to do. Additionally, since I'm from a small town in Texas, I really don't understand the bigger politics of being a Harvard alum, etc. In other words, from what you guys have seen, is the name "Harvard" worth $200,000 in debt. I know everyone's first response is "no", but seriously, I sometimes think that it is given its cultural weight. I would appreciate any thoughts from you guys since you know how debt affects career decisions and what the name "Harvard" means when it comes to getting a job and paying off the debt.

Okay, long story short--is it stupid to go to Harvard to "open doors" just to have them closed again by debt?

Thanks

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[Ligament]

If you want to go into academics or government work as a career, Harvard might be worth it.

If you want to be a clinician do Duke by all means. The education will be the SAME at either institution. As a clinician, your patients wont care where you went, as long as they know you are a physician.

That 200,000 would save you tons and tons of headaches if you choose to open your own practice. Think about buying a house, you could do it without any worries if you had no med school debt.

My god, med school debt is MORE than a mortgage in some areas of the country.

You will probably have equal residency chances coming from either program. They are both highly respected.

just my thoughts. I did not attend either.

regards.

 

[LaCirujana]

Go to Duke.

The Harvard name certainly has cachet, but out of Duke you can easily go into academic OR clinical practice. Duke is a terrific program and as the previous poster noted, your education will be essentially the same no matter where you go. Harvard will open a few doors that Duke may not, but very, very few. The Duke network is nearly as large, although perhaps slightly less powerful. The debt isn't worth the difference.

 

[Goofy]

This is a no brainer in my opinion.

As someone who made the mistake of going with the name brand, I have to echo the above sentiments. Duke is an excellent program, and a full scholarship will make a significant difference in the quality of your life. As long as you do well there, you will be able to get into any type of residency.

I made the mistake of buying a slightly more presitigious name. I just got the tally of 4 years of tuition, and yes it does pay the mortgage on a very nice house.

A scholarship, especially to a fine institution like duke is so rare these days. Take the money and run.

 

[Goofy]

Ligament,

I would debate how much more opportunity harvard would offer over duke. I think Duke will open 299 of the 300 doors harvard might open. Duke is almost the same caliber school, and if this poster wanted to do academics, research, clinical medicine, or any combination thereof, there would be absolutely no barriers whatsoever.

 

[johnM]

how in hell does one get a full scholarship at Duke?

 

[dr.evil]

GO TO DUKE!! If prestige is your excuse for $200k of debt then this IS a no brainer. Duke and Harvard are top quality schools. Duke will close no doors on you at all but $200k in debt very likely will. What if you really love Pediatrics but stress about the fact that you can ONLY make $120k/year and will be unable to pay back your debt? That sucks bad.

Debt is very, very real and sucks horribly.

Go to Harvard for residency if you really feel you need to go to Harvard.

PLUS, Duke can kick the crap out of Harvard in basketball which is what really counts, right? And North Carolina is beautiful country (sorry Bostonites).