Jefferson vs. Rutgers Robert Wood Johnson

[JPSmyth]

I narrowed down my school list to Jefferson and RWJMS. I am an NJ resident, so the difference in tuition will be about 15k per year (60k over the 4 years). Either way, both schools are going to put me over 200k in debt. It'll be 200k for RWJMS vs. about 260k for Jefferson.

I liked Jefferson more than RWJMS. The area, the facilities, and the student body seemed like a better fit for me. However, is this worth 60k? Which will become 100k+ with interest. I also have been told that Jeff has a more national reputation, and this might help if I want to match in California, or any state outside of the Northeast, whereas Rutgers is more regional. I believe that their reputations are similar, Jeff being a little better, but both are solid mid-tier schools that will not hold me back from any fields.

I didn't dislike RWJMS by any means, I just think that Piscataway/New Brunsick aren't great areas and I would like to leave my home state for school. Jefferson would provide a new experience which I think I may enjoy more, and it might slightly edge RWJMS in terms of connections/recognition nationwide.

Does anybody have input regarding either school in this situation?

Thanks!

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[Cynicalcatlady]

I would definitely choose Jefferson if you would be happier there! You will be able to pay off the debt later. Plenty of people have done it before you, and you will be fine too!
( It sounds like you may have already made up your mind, congratulations! )

 

[JPSmyth]

I would definitely choose Jefferson if you would be happier there! You will be able to pay off the debt later. Plenty of people have done it before you, and you will be fine too!
( It sounds like you may have already made up your mind, congratulations! )

Thank you! However I am trying to think forward to the future regarding my debt as well. I would imagine that 100k extra of debt is a lot of money. That could be a down payment on a home for example

 

[ridethecliche]

I loved jefferson and couldn't go there due to financial aid differences between them and my current institution.

The difference was closer to 35k a year though. For 15k a year, I would have gladly gone to Jeff. I have really come to like where I am now, but past me made the decision mostly for monetary reasons. I was much more 'wowed' after my experience at Jeff. It was actually the best interview day that I had. I'm actually continuing to work my tail off so I can try to end up there for residency.

 

[JPSmyth]

I loved jefferson and couldn't go there due to financial aid differences between them and my current institution.

The difference was closer to 35k a year though. For 15k a year, I would have gladly gone to Jeff. I have really come to like where I am now, but past me made the decision mostly for monetary reasons. I was much more 'wowed' after my experience at Jeff. It was actually the best interview day that I had. I'm actually continuing to work my tail off so I can try to end up there for residency.

I understand that, if my state school was cheaper it would be NO question. 140k ish difference is big before interest. 60k seems less massive when it's 200k vs 260k. Definitely have some thinking to do. I wish Jeff would give me just a little bit of merit aid to make my decision easier hah

 

[ridethecliche]

I understand that, if my state school was cheaper it would be NO question. 140k ish difference is big before interest. 60k seems less massive when it's 200k vs 260k. Definitely have some thinking to do. I wish Jeff would give me just a little bit of merit aid to make my decision easier hah

Right. It entirely comes down to what your comfort levels etc are. Would you be happier in philly? New brunswick is... meh...
That said, I never interviewed at RWJ, but I was blown away by the student body at Jeff. I just thought I'd fit in there. Like I said, I have a lot going for me where I am, but I'm pretty certain that I would have felt more at home at jeff. Anddd Dr. Callahan is fantastic!

 

[QuakerRay]

Jefferson. You clearly like the school better and 60k (even 100k when considering interest) isn't significant in the long run.


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[JPSmyth]

Turns out I calculated wrong. In state will run me about 270k and Jeff will run me about 330k. I feel like this changes things now. People on here tend to advise staying away from the 300k mark

 

[radioactive15]

Turns out I calculated wrong. In state will run me about 270k and Jeff will run me about 330k. I feel like this changes things now. People on here tend to advise staying away from the 300k mark

270k vs 330k is not as big of a problem as you think it will be.

I'm almost in the same situation as you (NJMS accepted vs Jefferson HPWL). I loved my impression of Jefferson and its students and if I get off Jeff's HPWL, I will attend there in a heartbeat over my current NJMS acceptance despite the price difference. I would rather be happy for 4 years than attend a school where I feel indifferent.

270k vs 330k is not that significant, and those broader connections you make Jefferson can potentially help you match better, which can eventually result in a higher salary, making it easier to pay off the loans.

If you are neutral towards both schools, choose the cheaper one, but if you loved one a lot more, go where you think you will be happy.

 

[JPSmyth]

270k vs 330k is not as big of a problem as you think it will be.

I'm almost in the same situation as you (NJMS accepted vs Jefferson HPWL). I loved my impression of Jefferson and its students and if I get off Jeff's HPWL, I will attend there in a heartbeat over my current NJMS acceptance despite the price difference. I would rather be happy for 4 years than attend a school where I feel indifferent.

270k vs 330k is not that significant, and those broader connections you make Jefferson can potentially help you match better, which can eventually result in a higher salary, making it easier to pay off the loans.

If you are neutral towards both schools, choose the cheaper one, but if you loved one a lot more, go where you think you will be happy.

The thing is, I feel like I would be happy at RWJMS too. I like both schools, so I guess it'll come down to the second look visits and talking to current students. Surprisingly living in philly and living in that area of NJ aren't too different

 

[Doctor Strange]

I'm an MS4 at Jeff. It's a fantastic place, and I recommend it to almost everyone that comes through these doors. That being said, do not underestimate how much debt a principle balance of 330k is. That is a lot of money. What are you planning on going into? If it's primary care, I would honestly go with Robert Wood. Don't listen to people on here saying "don't worry about it;" you are right to be concerned. People tend to minimize the numbers once you start breaching the 200k range, but, believe me, 270k and 330k are very different. You will likely not be able to benefit from PSLF in the future. Income-driven repayments discontinue the remaining balance of your loans at the end of your 20-25 year payment term and then tax you on that balance. These are things you should be taking into account

 

[JPSmyth]

I'm an MS4 at Jeff. It's a fantastic place, and I recommend it to almost everyone that comes through these doors. That being said, do not underestimate how much debt a principle balance of 330k is. That is a lot of money. What are you planning on going into? If it's primary care, I would honestly go with Robert Wood. Don't listen to people on here saying "don't worry about it;" you are right to be concerned. People tend to minimize the numbers once you start breaching the 200k range, but, believe me, 270k and 330k are very different. You will likely not be able to benefit from PSLF in the future. Income-driven repayments discontinue the remaining balance of your loans at the end of your 20-25 year payment term and then tax you on that balance. These are things you should be taking into account

Thanks for the input. I know a lot of pre-meds think "were going to make bank don't worry about it" but I have had multiple young attendings tell me the same thing. Granted those attendings are in lucrative fields like surgery and heme/onc.

I do not have a spouse to share the debt burden like some may have, and no family support at all, so I will be facing 100% of the debt alone.

I don't know which specialty I want to pursue yet. I like IR, anesth, allergy/immuno, derm (don't we all), which I feel like will make most debts manageable as they are compensated fairly well. However if I change my mind and decide I love a field like PM&R or IM/FM, then I won't be able to go into those fields due to the high debt burden. I don't want to back myself into a corner, be looking at 400k debt constantly growing, and think "well looks like I have to go into ortho now" (I know that's not an easy task, just saying)

 

[JPSmyth]

@Doctor Strange as for the loan repayment plans that are 20-25 years, I was told not to bank on plans that far in the future as they can change and we revoked at any point

 

[Doctor Strange]

@Doctor Strange as for the loan repayment plans that are 20-25 years, I was told not to bank on plans that far in the future as they can change and we revoked at any point

Income-driven repayments are pretty safe, in my opinion, and our financial aid office agrees. They've existed for years, and it would honestly be impossible for residents to make payments if it weren't for the number of IDR options.

 

[radioactive15]

The thing is, I feel like I would be happy at RWJMS too. I like both schools, so I guess it'll come down to the second look visits and talking to current students. Surprisingly living in philly and living in that area of NJ aren't too different

If that's the case, go with RWJ. They also match well and you could pursue your passion whether it be FM or Derm without being restricted financially if your interests change.

You made it seem like you were more happy at Jeff than RWJ, but if you'd be happy anywhere, pick RWJ. It's also a great school. Second Looks should help you decide

 

[JPSmyth]

Income-driven repayments are pretty safe, in my opinion, and our financial aid office agrees. They've existed for years, and it would honestly be impossible for residents to make payments if it weren't for the number of IDR options.

Oh that's good to know. Another thing though is that instead of paying them off in 25 years at 6.8% interest (I think that's the nunber), why not just pay them aggressively? There is no safe existing way to invest toward retirement above that interest rate so it would be more beneficial to pay it all down asap and then start saving afterwards?

 

[Doctor Strange]

Oh that's good to know. Another thing though is that instead of paying them off in 25 years at 6.8% interest (I think that's the nunber), why not just pay them aggressively? There is no safe existing way to invest toward retirement above that interest rate so it would be more beneficial to pay it all down asap and then start saving afterwards?

You can certainly always pay more than the minimum payment; IDR just makes it more manageable for people. It all depends on your financial situation. Are you going to be married? Does your spouse make a significant income? Do you want to buy a house? A car? If you have a small sum of debt, you may be able to make minimum payments and not have to pay much at the end when it's discontinued. It's all very dependent on your specific financial situation.

 

[JPSmyth]

You can certainly always pay more than the minimum payment; IDR just makes it more manageable for people. It all depends on your financial situation. Are you going to be married? Does your spouse make a significant income? Do you want to buy a house? A car? If you have a small sum of debt, you may be able to make minimum payments and not have to pay much at the end when it's discontinued. It's all very dependent on your specific financial situation.

So much to think about... I'll definitely go to both second looks, try to discuss with the financial aid offices at both schools as well, and then decide. My internal dilemma is I picture myself going to RWJ and not liking it so much and thinking, I should have went to Jefferson. Then I also picture myself graduating from Jeff with a ton of debt and thinking, I should have went to RWJ haha