Insane DO tuition??

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Saito

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Why is it that DO schools tend to be more expensive than MD schools?
Also why is it that "degree-mill" style schools (like touro) have DO schools but not MD schools? Is it harder to open up an MD school?
Is it even possible anymore to live comfortably as a primary care physician with 400k+ in loans?
I'm asking because I was looking at touros Pharm school and their tuition is 90k a year. That's insane, there's no way a pharmd can pay that off. Thankfully I was accepted to a MUCH cheaper school but it got me looking at MD and DO tution and it's always more for DO. Why?
 
Private Vs. Public institution.
 
It seems like the average MD private school tuition is 49,369 (US News)
Still much higher than most DO schools it seems
 
As long as the trump administration doesn't eff us over (which is highly possible), we'll be able to use income based repayment and pay 12.5 percent of our salary into loans for 15 (?) years and then the rest is forgiven. So the tuition doesn't matter that much to me as long as I can get into residency and actually be a dr.
 
pseud0 said:
As long as the trump administration doesn't eff us over (which is highly possible), we'll be able to use income based repayment and pay 12.5 percent of our salary into loans for 15 (?) years and then the rest is forgiven. So the tuition doesn't matter that much to me as long as I can get into residency and actually be a dr.
Click to expand...
Average physician salary for primary care (generally among the lowest) = $189k per year. 12.5% of that is around $23500. With some rounding that's about $350k repaid over the course of 15 years. Given a standard Gradplus loan interest rate of 8% (again rounding because lazy), $200k of student debt would amount to $345k total if paid over the course of 15 years. I didn't take in account time in residency but the math involves more work than I can bother with an income-driven plan.

tl;dr the "loan forgiveness" sounds a lot better than it probably is and the tuition is too damn high
 
It's definitely better than paying the whole thing back...especially if you also have undergraduate loans. those get forgiven too as far as I know
 
Ulgarmoose said:
Average physician salary for primary care (generally among the lowest) = $189k per year. 12.5% of that is around $23500. With some rounding that's about $350k repaid over the course of 15 years. Given a standard Gradplus loan interest rate of 8% (again rounding because lazy), $200k of student debt would amount to $345k total if paid over the course of 15 years. I didn't take in account time in residency but the math involves more work than I can bother with an income-driven plan.

tl;dr the "loan forgiveness" sounds a lot better than it probably is and the tuition is too damn high
Click to expand...

Except that you're paying pennies during your five year residency.
 
Ulgarmoose said:
Average physician salary for primary care (generally among the lowest) = $189k per year. 12.5% of that is around $23500. With some rounding that's about $350k repaid over the course of 15 years. Given a standard Gradplus loan interest rate of 8% (again rounding because lazy), $200k of student debt would amount to $345k total if paid over the course of 15 years. I didn't take in account time in residency but the math involves more work than I can bother with an income-driven plan.

tl;dr the "loan forgiveness" sounds a lot better than it probably is and the tuition is too damn high
Click to expand...

Except that you're paying pennies during your five year residency.
 
The most expensive DO schools aren't expensive for in state students. They are trying to get people who want to stay in that state to practice.

My DO school was 30-50% cheaper than all the other schools on my list. And the outcomes as far as board scores, etc suggest that I am getting a good value for that money.
 
I believe Touro has ownership over New York Medical College which is an MD school.

But yes, the guidelines for COCA acres are not as in depth and detailed as those for LCME. Furthermore there seems to be more site visits and connection with each md school to LCME then COCA to DO schools.


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Saito said:
Why is it that DO schools tend to be more expensive than MD schools?
Also why is it that "degree-mill" style schools (like touro) have DO schools but not MD schools? Is it harder to open up an MD school?
Is it even possible anymore to live comfortably as a primary care physician with 400k+ in loans?
I'm asking because I was looking at touros Pharm school and their tuition is 90k a year. That's insane, there's no way a pharmd can pay that off. Thankfully I was accepted to a MUCH cheaper school but it got me looking at MD and DO tution and it's always more for DO. Why?
Click to expand...

As @AlteredScale mentioned -- it's true that NYMC is owned by touro college. I believe the new NYMC diplomas have some addendum saying "a member of the touro college and university system". So I wouldn't call touro(and their members) a degree-mill. Ultimately because a plurality of DO schools are private they in turn have a higher cost associated with them-- but a private MD vs private DO is of comparable cost.

Are tuitions high? Yes, definitely.
Is this a DO-centric issue? No, it's a private issue.
 
They have the research venues that pay better in grant indirects than MD schools. Nor do they have the donor endowments (well, maybe the older schools do; mine doesn't).


Why is it that DO schools tend to be more expensive than MD schools?

The Touro system own NYMC. And yes, it IS harder to open an MD school. LCME requires research; COCA doesn't, alas.

Also why is it that "degree-mill" style schools (like touro) have DO schools but not MD schools? Is it harder to open up an MD school?

Yup. My DO colleagues don't have problem with it.

Is it even possible anymore to live comfortably as a primary care physician with 400k+ in loans?

Why are you bitching about a Pharm school? And LECOM's tuition is dirt cheap for any med school.

BTW:
The median annual salary for a pharmacist was $120,950, or $58.15 per hour, in 2014. The best-paid 10 percent made $150,550, while the lowest-paid made $89,320. The best-compensated pharmacists are employed by scientific research and development companies.
Pharmacist Salary Information | US News Best Jobs

I'm asking because I was looking at touros Pharm school and their tuition is 90k a year. That's insane, there's no way a pharmd can pay that off. Thankfully I was accepted to a MUCH cheaper school but it got me looking at MD and DO tution and it's always more for DO. Why?[/QUOTE]
 
pseud0 said:
As long as the trump administration doesn't eff us over (which is highly possible), we'll be able to use income based repayment and pay 12.5 percent of our salary into loans for 15 (?) years and then the rest is forgiven. So the tuition doesn't matter that much to me as long as I can get into residency and actually be a dr.
Click to expand...

Your IBR is for 25 years and the rest isn't really forgiven. You have a tax bomb at the end where you have to pay taxes on what is forgiven (so 40% of whatever is left over). If you are in a field with a higher salary you might as well pay off all the loans ASAP.

Well you could PSLF your loans and work in the public sector for 10 years and get all of it wiped off. However, I wouldn't be too dependent on this route, because we don't know if this will exist around 2020 (or if the amount being forgiven will be capped).
 
Right. I read that what gets forgiven counts as taxable income basically. I still can't imagine it being as bad as paying all of it off, especially while trying to establish a life for myself at the same time. but yeah I'm not pretending to understand all the details of the various forgiveness programs available. That's what financial aid advisers are for

10 years at a public institution doesn't sound too terrible to me either
 
pseud0 said:
Right. I read that what gets forgiven counts as taxable income basically. I still can't imagine it being as bad as paying all of it off, especially while trying to establish a life for myself at the same time. but yeah I'm not pretending to understand all the details of the various forgiveness programs available. That's what financial aid advisers are for

10 years at a public institution doesn't sound too terrible to me either
Click to expand...

The better news is that if your residency is at a non-profit institution, this counts for the 10 years (ex. 5 year surgery residency + 5 years working at non-profit hospital).
 
IslandStyle808 said:
The better news is that if your residency is at a non-profit institution, this counts for the 10 years (ex. 5 year surgery residency + 5 years working at non-profit hospital).
Click to expand...

Does it have to be the same hospital?


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Peach Newport said:
F**kin' vultures, the lot of you
Click to expand...

Don't worry, pretty soon Trump will open up a med school we'll forget all about Tuoro and LUCOM. Then again, Trump-COM will probably be the greatest med school ever. I know it, you know it, everyone knows it...
 
Stagg737 said:
Don't worry, pretty soon Trump will open up a med school we'll forget all about Tuoro and LUCOM. Then again, Trump-COM will probably be the greatest med school ever. I know it, you know it, everyone knows it...
Click to expand...

It's. Going. To be........YUUUUUUUGE!!!!!
 
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