Wowzers. So I checked out the tuition fees for non-EU residents at RCSI and I'm just blown away. 57k CAD a year not including living expenses 😱. I'm assuming not everyone here has won the lottery/rich parents, so how do you do it? I saw on the atlantic bridge website that you can borrow up to 150k from some banks but that would only cover about half. How long do you think it would take to pay off these loans once you start working? Did you talk to a financial advisor before you decided to go? I would love to go to Ireland for medical school but thinking about the tuition makes my stomach turn.
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$ If you don't mind me asking... $
Started by omiart
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If you/your parents don't have 300 grand in cash available then only other viable option is a secured line of credit. You might qualify for 150 grand with a co-signer unsecured, but that won't get you through your second year. Banks typically secure 80% of the value of fully paid for home (no mortgage).
At the end of 4 years you will have 400 grand to pay back if you are also borrowing money to make all the interest payments along the way.
You'll get some serious tuition tax breaks once working in your home country. Should be able to pay it back between 8 and 15 years depending on specialty and how you live.
Definitely speak to a financial advisor that has experience with Doctors before getting into this mess.
At the end of 4 years you will have 400 grand to pay back if you are also borrowing money to make all the interest payments along the way.
You'll get some serious tuition tax breaks once working in your home country. Should be able to pay it back between 8 and 15 years depending on specialty and how you live.
Definitely speak to a financial advisor that has experience with Doctors before getting into this mess.
if you're in the US you can borrow up to the full amount of tuition through the different federal loan programs. it really isn't that bad to pay them off. i mean think about it. how much do you really need to live off of a year? if you don't have kids, and aren't splurging on fancy cars or an expensive apartment, then you can easily pay off those loans in 5 years. for me, i don't expect to be spending more than $20,000 a year and that's living large. find cheap rent, use public transportation or a used car, and eat affordably. the other $40,000-$80,000 you can put towards your loans. paying off that much a year it won't take long to pay them all off. besides how much time are you going to have to spend all that money the first few years out of school when you're busting your ass in residencies or being called in for emergency procedures all the time?
plus the exchange rate is really good right now so don't be too discouraged and in the US this is normal tuition rates for most private schools. you can also join the military or other government organizations when you get out and they'll repay your loans for you based on your years of service with them.
plus the exchange rate is really good right now so don't be too discouraged and in the US this is normal tuition rates for most private schools. you can also join the military or other government organizations when you get out and they'll repay your loans for you based on your years of service with them.
