1. Dismiss Notice
  2. Download free Tapatalk for iPhone or Tapatalk for Android for your phone and follow the SDN forums with push notifications.
    Dismiss Notice
Dismiss Notice
Visit Interview Feedback to view and submit interview information.

Johns Hopkins Financial Aid packages

Discussion in 'Pre-Medical - MD' started by A Wall, May 6, 2008.

  1. A Wall

    7+ Year Member

    Joined:
    Oct 15, 2006
    Messages:
    93
    Likes Received:
    0
    Status:
    Medical Student
    Anyone else a bit shocked by their JHU finaid package? I only had one other school to compare it with, but it was a LOT less, and would leave me with just a ridiculous amount of debt. I spoke to a couple of other prospectives and current students who were also surprised by how little they'd gotten. Really sucks to get a hit like that after you felt like you were leaning towards a school. ::sigh::
     
  2. Note: SDN Members do not see this ad.

  3. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    How's about some details?

    What was your EFC?

    Etc...
     
  4. kedrin

    5+ Year Member

    Joined:
    Jan 24, 2008
    Messages:
    318
    Likes Received:
    6
    Status:
    Medical Student
    hopkins is a damned good school, id pay w/e to go there. I would still go to hopkins if i were you unless the other school you are comparing to is just as good.
     
  5. SarSun23

    2+ Year Member

    Joined:
    Jun 13, 2007
    Messages:
    14
    Likes Received:
    0
    Status:
    Pre-Medical
    I just got mine, too, and it was terrible. They didn't give me an EFC at all (I don't really understand why...every other school has). Between the expected student contribution, loans, and (abysmal) scholarship, they didn't account for over $30,000....
     
  6. TheRealMD

    TheRealMD "The Mac Guy"
    5+ Year Member

    Joined:
    May 23, 2007
    Messages:
    4,769
    Likes Received:
    6
    MDApps:
    Status:
    Medical Student
    There are 3 schools that I would pay to have the piece of paper you will get in 4 years. You have been accepted to one of them.
     
  7. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    I thought Hopkins had the "unit loan" concept...how does that work exactly...what is your expected total annual contribution to attend...what is your anticipated 4 year debt (assuming you borrow 100 percent of your contribution)?

    Hopkins doesn't do merit aid, right? Only need?
     
  8. MsJLewis

    MsJLewis Retired Pre-med
    7+ Year Member

    Joined:
    Apr 17, 2007
    Messages:
    668
    Likes Received:
    5
    Status:
    Medical Student
    It totally sucks, but so many people would give up their first born child to be in your shoes. I'm not kidding...

    But debt is something that comes with the job. If all else were equal (location, prestige, curricula, etc..) I would go with the school that leaves you in the least amount of debt. I'm trying to make the same decision myself. The problem is there are not too many schools that would be on the same level as JHop...

    What are the other two?
     
  9. TheRealMD

    TheRealMD "The Mac Guy"
    5+ Year Member

    Joined:
    May 23, 2007
    Messages:
    4,769
    Likes Received:
    6
    MDApps:
    Status:
    Medical Student
    Harvard, and then an amazing school that costs a lot on the west coast, so Stanford.
     
  10. neurofreak

    7+ Year Member

    Joined:
    Mar 8, 2007
    Messages:
    467
    Likes Received:
    1
    Status:
    Medical Student
    how much debt do you guys consider to be too much? 100k? 200k?
     
  11. hra87

    hra87 Junior Member
    7+ Year Member

    Joined:
    Apr 7, 2006
    Messages:
    252
    Likes Received:
    0
    Well, Stanford doesn't cost a lot, they have AMAZING financial aid.



    I got my letter yesterday via email...is that when you got it or during second look? I thought mine was pretty generous. JHopRevisit said they might be remedying the situation, so maybe you'll get an update with more $$$$$. I don't know...or maybe I got lucky. Or maybe it's not as generous as I thought...
     
  12. hra87

    hra87 Junior Member
    7+ Year Member

    Joined:
    Apr 7, 2006
    Messages:
    252
    Likes Received:
    0
    You are GUARANTEED 80,000 in debt from Hopkins, since they have a 20,000 unit loan. I believe that's how it works. I can't imagien someone complaining about 100,000, since I believe you are guaranteed 100,000 debt at harvard with their 25,000 unit loan.

    Or is that not how it works?
     
  13. SarSun23

    2+ Year Member

    Joined:
    Jun 13, 2007
    Messages:
    14
    Likes Received:
    0
    Status:
    Pre-Medical
    That's my understanding of it. Although Hopkins didn't offer me the entirety of the unit loan.

    As far as debt goes, looking at the current cost of attendance for the four years, I'm looking at $249,000, which, right now feels pretty daunting, although I still feel extremely lucky to have the chance at Hopkins.
     
  14. mimivirus

    5+ Year Member

    Joined:
    Nov 21, 2007
    Messages:
    273
    Likes Received:
    1
    Status:
    Pre-Health (Field Undecided)
    aiyiyi! i am considering a full ride and a state school rite now...so i dont really know...but is that typical?!
     
  15. TheRealMD

    TheRealMD "The Mac Guy"
    5+ Year Member

    Joined:
    May 23, 2007
    Messages:
    4,769
    Likes Received:
    6
    MDApps:
    Status:
    Medical Student
    I live in Texas, so everything outside of Texas "costs a lot". :oops:
     
  16. Danbo1957

    10+ Year Member

    Joined:
    Feb 17, 2008
    Messages:
    1,012
    Likes Received:
    332
    Status:
    Attending Physician
    Your total Hopkins debt won't be that much, unless you plan on living expensively.

    Hopkins financial aid is based on need, and they count every dollar offered... remember, a good percentage of med students get no money at all.
     
  17. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    So I am still confused...for the amount between the unit loan ($80k) and the total COA ($249K), or approx $170K, did Hopkins deem that you do not qualify for any additional need assistance? If yes, can you give us some idea what your family circumstances are that make it so that you get no assistance?

    These finaid deals freak me out - I am a year away from all of this - but I guess I don't understand how the unit loan works or how they decide who gets need based aid and who doesn't...I thought the idea behind the unit loan was to cap the total amount of obligation for anyone who otherwise has demonstrated need...
     
  18. hra87

    hra87 Junior Member
    7+ Year Member

    Joined:
    Apr 7, 2006
    Messages:
    252
    Likes Received:
    0
    Hey guys, on yoru financial aid notices, what exactly is "student contribution?" Does that include "parental contribution?"

    I don't get it...
     
  19. taponthecloud

    5+ Year Member

    Joined:
    Nov 15, 2007
    Messages:
    641
    Likes Received:
    0
    Status:
    Medical Student
    we are all paying for that piece of paper (excluding muddphudders).
     
  20. TheRealMD

    TheRealMD "The Mac Guy"
    5+ Year Member

    Joined:
    May 23, 2007
    Messages:
    4,769
    Likes Received:
    6
    MDApps:
    Status:
    Medical Student
    "pay more" happy?
     
  21. taponthecloud

    5+ Year Member

    Joined:
    Nov 15, 2007
    Messages:
    641
    Likes Received:
    0
    Status:
    Medical Student
    yep
     
  22. DoctorDreamer

    DoctorDreamer In a far away land...
    2+ Year Member

    Joined:
    Dec 10, 2007
    Messages:
    814
    Likes Received:
    0
    Status:
    Medical Student
    If it helps any of you all feel better, I'm looking at a total debt of $220 at my state school, or a total debt of $280 at a slightly more prestigious school.

    Count your blessings. Many of you will spend less for a school some of us would sell significant body parts to go to come fall.
     
  23. 87138

    87138 Guest

    Joined:
    Jan 14, 2006
    Messages:
    2,879
    Likes Received:
    12
    Status:
    Medical Student


    I'm in a nearly identical situation.
     
  24. SarSun23

    2+ Year Member

    Joined:
    Jun 13, 2007
    Messages:
    14
    Likes Received:
    0
    Status:
    Pre-Medical

    Basically, they offerred me the 20K unit loan and ~$1500 in scholarship. They said my student contribution should be ~ $3000 and did not list an EFC. The remainder of the cost of attendance was not accounted for, so it's up to me to find private loans (my family will be contributing $0) to cover that.

    In terms of family circumstances, I would classify my family as middle to upper middle class and financially sound (my parents have no debt, own the house, and have saved for retirement). I have one sibling, but he is finished with school. All of that being said, I can appreciate the fact that I do not classify as "needy" and that there are other students who deserve institutional money far more than I do... nonetheless, the debt to come is overwhelming! But hey, with a Hopkins degree, maybe I could make some real money selling my eggs or something...
     
  25. Mbekweni

    10+ Year Member

    Joined:
    May 30, 2007
    Messages:
    188
    Likes Received:
    36
    Status:
    Attending Physician
    Always appeal your financial aid offer. Write them a letter explaining your circumstances, how they claim (cite their website) that they meet 100% of student need if that's the case etc. Talk about how FAFSA etc isn't right because you won't be able to work in med school, how you want to work with the underserved and don't want to be overly saddled with debt. Best of all, compare them to other financial aid packages you've gotten. Remind them of the base loan concept and how they aren't meeting the whole cost of attendance like they promised.

    Every time I've appealed financial aid through college and grad school I've gotten a bit more. It only costs time a stamp, and in your case could be worth a ton. No use complaining on SDN. Talk to the school and see if there is anything that can be done. Good luck.
     
  26. se2131

    7+ Year Member

    Joined:
    Jun 27, 2007
    Messages:
    306
    Likes Received:
    0
    MDApps:
    Status:
    Pre-Medical
    I might be mistaken, but can't you take out Stafford loans up to the cap ($40,500) no matter what your financial situation? The amount that is subsidized is variable, but I don't think you would have to take out private loans specifically.

    At least I'm hoping that's correct because my financial aid package is leaving out $25,000/yr unaccounted for... (different school though)
     
  27. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    The "EFC / meeting all need" concept from undergrad sounds like it is meaningless with some of these med schools from your example with Hopkins. And the unit loan concept at Hopkins sounds pretty disingenuous, too.

    Of the top schools, Hopkins sounds like one of the stingiest with aid. Someone on the Hopkins class thread is reporting that the school is overhauling finaid for subsequent classes, and it sounds like they really need to do this to be more in step with their competition.
     
  28. JHopRevisit

    7+ Year Member

    Joined:
    Feb 12, 2008
    Messages:
    302
    Likes Received:
    0
    Yep, its overwhelming. You'll have to take a look at your own personal financial situation, and money IMHO should be one of the top factors in your decision, along with the opportunities of the school itself, the location, and the quality of the clinical education.

    But the warnings of physician compensation are a bit exaggerated. We're not going to be as rich as preceding generations, but we will be well compensated, so the debt should only affect you temporarily. The one bad part is that it can limit your ability to go into family medicine or general pediatric practice, but otherwise your options are open. Thus I would only let financial considerations override your top choice if there's a really big difference.

    As far as keeping up with the competition, pretty good students have been coming to Hopkins for years. My classmates that came off the waitlist are at least as bright and capable as those who chose to attend other schools for less money. Not to mention the general feeling seems to be that while its nice to get all of your so-called "top students," they're very confident in the quality of their clinical education and feel that whoever comes here will be well trained and become a great doctor. So if they fix financial aid like Harvard did, which they should and I think they're treating as a priority right now, its more to help out their students than to "compete."
     
  29. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    You misread my comment.

    I was not implying that Hopkins is experiencing a drop in the quality of students at all. Rather, I was saying that Hopkins seems to be out of step with the trend at peer medical schools to reduce the price tag and debt load on all of its students. Hopkins use of the unit loan seems sort of perverse compared to what I understand it to mean at Harvard and other elite med schools.

    As you alluded, even Hopkins wants some grads to go into primary care, peds, FP, underserved communities, global health, and other lesser compensated disciplines, but the debt that hangs over their grads heads reduces that possibility for many people.
     
  30. A Wall

    7+ Year Member

    Joined:
    Oct 15, 2006
    Messages:
    93
    Likes Received:
    0
    Status:
    Medical Student
    Hopkins is amazing, and I feel incredibly lucky to have the opportunity to go there. That said, if I take them up on their offer of 1k scholarship and 8.5k subsidized loans a year, I'll end up (after four years) with roughly 34k in subsidized loans, 200k PLUS interest from unsubsidized loans, and 90k left over from undergraduate loans... For a total of somewhere in the vicinity of 350k upon graduating. I don't have any particular interest in going into one of the highest-paying specialties after I graduate, which makes that particular debt burden completely unreasonable, no matter how amazing the school is. Sounds like at least one or two other people are in similar boats... Maybe they'll reconsider.
     
  31. JHopRevisit

    7+ Year Member

    Joined:
    Feb 12, 2008
    Messages:
    302
    Likes Received:
    0
    All good points. Sorry, didn't mean to misquote you (edited my post to take out the quotes).
     
  32. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    No problem - I enjoy your posts - you are very helpful to the folks on the official Hopkins thread.

    I just wanted to make sure nobody thinks I am dissing Hopkins as a great school, or maligning its students.
     
  33. premalsst

    2+ Year Member

    Joined:
    Apr 28, 2008
    Messages:
    22
    Likes Received:
    0
    Whats scarier than being $X in debt is that youll be paying about double that amount over the course of the repayment schedule. I am getting over that now but it hit me pretty hard when I first crunched those numbers. Regardless its a great position to be in, especially from my perspective...(Im on the waitlist).
     
  34. nomoreplz

    nomoreplz just bustin' chops.
    2+ Year Member

    Joined:
    Jul 9, 2007
    Messages:
    339
    Likes Received:
    0
    MDApps:
    Status:
    Pre-Medical
    My Hopkins package at revisit was RIDICULOUS, and by ridiculous I mean they were pretty much telling me to take a hike. So I went to the office and begged for a little help. And they came up with some scholarship money for me, and I'm going to apply to get the full unit loan (they didn't give it to me either, but you can apply to get it all.)

    Plus, I'm very lucky in that my family is going to help me make up that difference after scholarship + unit loan.

    I agree that they seem sorta backwards about financial aid. I made the decision just yesterday to go there, because I was freaking out about the cheapness of Baylor. But you only get an opportunity like this once, and I figure, let's do it. Yikes!
     
  35. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    In rough numbers how much more is it going to cost you and your family in loans (or upfront cash) to attend Hopkins over Baylor? Sounds like a lot...is it upwards of $150k additional?
     
  36. nomoreplz

    nomoreplz just bustin' chops.
    2+ Year Member

    Joined:
    Jul 9, 2007
    Messages:
    339
    Likes Received:
    0
    MDApps:
    Status:
    Pre-Medical
    It's about 150,000 additional exactly.
     
  37. hra87

    hra87 Junior Member
    7+ Year Member

    Joined:
    Apr 7, 2006
    Messages:
    252
    Likes Received:
    0
    Wow...you must REALLY REALLY like Hopkins.

    Edit: what the hell, I thought EVERYONE gets the unit loan. That is so weird...

    Although on another note, I now understand why Hopkins has such a low retention rate. But then again, I still don't understand why their average debt is so low. Maybe the only kids that actually accept the offer are really poor or really rich...
     
  38. mcchicken1985

    5+ Year Member

    Joined:
    Oct 15, 2006
    Messages:
    41
    Likes Received:
    0
    Status:
    Pre-Medical
    I was deciding between a couple UC's and Hopkins, and my gut instinct was to go with the UC's since they were cheaper. But after crunching the numbers, I would still end up forking over almost $200k to stay in Cali. Made the choice even easier. although more money from jhu would be nice :)
     
  39. TheRealMD

    TheRealMD "The Mac Guy"
    5+ Year Member

    Joined:
    May 23, 2007
    Messages:
    4,769
    Likes Received:
    6
    MDApps:
    Status:
    Medical Student
    Oh, so you withdrew from Baylor? Sorry to see you go (but JHU is worth it!)
     
  40. mcchicken1985

    5+ Year Member

    Joined:
    Oct 15, 2006
    Messages:
    41
    Likes Received:
    0
    Status:
    Pre-Medical
    Is there a separate application for the unit loan if you were not given one in the initial package?
     
  41. Doublecortin

    5+ Year Member

    Joined:
    Jan 21, 2007
    Messages:
    1,303
    Likes Received:
    1
    Status:
    Podiatry Student
    :thumbup:
    yeah, jhop, big name, whatever, it's way overrated,

    why would you trade sunny so cal for baltimore, murder capital of American :eek:
     
  42. TigerSoup

    7+ Year Member

    Joined:
    Jan 4, 2007
    Messages:
    195
    Likes Received:
    0
    Status:
    Medical Student
    You all are making me a bit self-conscious about writing off Hopkins so fast! Combination of unfavorable finances and not liking the area/curriculum. Personally, I didn't think the boost to my ego would counteract how unhappy I'd be in Baltimore, stressing about the grading system and lamenting how much less money I would have spent on another school for the same education.

    To the OP, I'm sorry you were leaning towards JHU and then got a discouraging finaid package! I think if it were the one place you can imagine yourself being happy at, then you might want to go and deal with the costs and debt. But remember that a lot of the people who are saying that they'd pay anything to go to JHU aren't actually in that situation, and if they actually had to make the choice might not be so sure. I would have said a similar thing about one particular school, until I was offered a financial aid deal at another school that made me look back at what I was really attracting me to my supposed "dream school". I.e. how flashy the facilities were and how highly the school was ranked. When I reevaluated the two on more concrete criteria (*money*, clinical training, curriculum, student body, etc), my opinion changed dramatically.
     
  43. TheRealMD

    TheRealMD "The Mac Guy"
    5+ Year Member

    Joined:
    May 23, 2007
    Messages:
    4,769
    Likes Received:
    6
    MDApps:
    Status:
    Medical Student
    Or do what I did and never apply so you can avoid that decision!!!!

    ... and live a life of regret. Oh well, LESS DEBT! :hardy:
     
  44. mimivirus

    5+ Year Member

    Joined:
    Nov 21, 2007
    Messages:
    273
    Likes Received:
    1
    Status:
    Pre-Health (Field Undecided)
    yay! well said :thumbup:

     
  45. mimivirus

    5+ Year Member

    Joined:
    Nov 21, 2007
    Messages:
    273
    Likes Received:
    1
    Status:
    Pre-Health (Field Undecided)
    too bad for me the place where i think i would be happier is not the same as the place where the financial package is more sound...though i am not considering hopkins it is good to get perspective on the financial situation from u guys...so thanks!! ok i will stop hijacking this thread now =)
     
  46. LovelyMD

    Moderator Emeritus 2+ Year Member

    Joined:
    May 21, 2007
    Messages:
    663
    Likes Received:
    0
    Status:
    Medical Student
    I completely agree with this post. I also turned down Hopkins for the same reasons that TigerSoup turned it down, and this thread is making me a little bit self-conscious about it. It is so easy to say that you would pay anything to go to JHU, but when you're in that position, it can be a completely different story. That said, if you really liked JHU more than your other options, I think you should go for it. Money can't buy happiness, and you don't want to be left wondering "What if...?"

    ...yeap, this is kind of like the situation I'm in right now...
     
  47. 1956Goldtop

    Joined:
    Jan 11, 2008
    Messages:
    1,036
    Likes Received:
    0
    MDApps:
    Status:
    Pre-Medical
    lovely, have you decided where you are going yet? You had a number of fantastic choices from what I remember!
     
  48. flip26

    2+ Year Member

    Joined:
    Dec 20, 2007
    Messages:
    4,795
    Likes Received:
    8
    Status:
    Medical Student
    I am a year away from all of this fun myself, but going into the process, I am positive I would have done exactly what you and TigerSoup did - I would NOT take on a bunch of additional debt over an alternative med school - the poster in this thread who is taking on an additional $150k above and beyond what Baylor was going to cost her has made a decision I cannot fathom making for ANY school.

    So don't feel self conscious. You did a smart thing avoiding the debt trap. And there is always residency or fellowships at Hopkins or wherever your abilities will take you...

    Good luck.
     
  49. nomoreplz

    nomoreplz just bustin' chops.
    2+ Year Member

    Joined:
    Jul 9, 2007
    Messages:
    339
    Likes Received:
    0
    MDApps:
    Status:
    Pre-Medical
    Well, I sure as hell didn't mean to make anyone feel self-conscious. This was a torturous decision. I want to do public health, and JH has the best public health school in the world. I feel like the opportunities for me on that side of things will be better there.

    Not to mention, I've been in Texas my whole life, and I'd like to leave for a bit, see the rest of the States, especially because I might eventually want to end up here.

    These are all very personal decisions, you know. Never ever did I think "I would pay anything to go to Hopkins." That's why I freaked out at the financial aid office, because they essentially smited (smote?) my dreams. But it all worked out, and I can completely understand going to a cheaper school. Believe me, I was 60/40 on the decision on the day I made it.
     
  50. LovelyMD

    Moderator Emeritus 2+ Year Member

    Joined:
    May 21, 2007
    Messages:
    663
    Likes Received:
    0
    Status:
    Medical Student
    Ask me in 8 days :p

    Oh I'm sure that was not your intention :). Despite the huge cost difference, I can't say that I would've definitely chosen Baylor if I was in your situation, since there are a lot of factors to weigh. You're right, these are all very personal (and sometimes also very tricky) decisions. I envy the fact that you have indeed made a final decision though.
     
  51. 1956Goldtop

    Joined:
    Jan 11, 2008
    Messages:
    1,036
    Likes Received:
    0
    MDApps:
    Status:
    Pre-Medical
    maybe financial aid is the reason why there is so much movement off the JHU alternate list ;)
     

Share This Page