Just got my financial aid package: please advise

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Full Member
10+ Year Member
Dec 5, 2005
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Hi all,

I will be starting med school this fall and just got my fiinancial papers. Here it goes (per year):
Total loans: $30,000 (8,500 Federal Stafford Subsidized; 6,000 Federal Perkins; 15,534 Federal Stafford Unsubsidized).
Total Scholarships: $26,000.

Although my calculated family contribution is about $10,000, I don't want to ask my parents for money. My father is the main breadwinner in the house but our relationship becomes really strained whenever money gets involved. I've had enough of that in undergrad. Basically, I know he will offer to help, but it will come with thick strings attached.

Thus, do you think that $30,000 is okay to borrow, or is it too much? Of course, I am thinking that I will have to repay it later.... I just wanted to know how much loans you guys usually take per year.

Also, do you feel that living expenses calculated by the school are enough?

It all really depends. Where do you live? What are your spending habits? What extra expenses do you expect? What does your school budget supposedly cover? Etc., Etc.

I pay for everything with student loans, and I keep a part-time student job to help pay for extra little things. Thus, 30K in loans is no big deal to me.

Just be smart about your spending habits, and I'm sure you'll be just fine.

Doctor Bagel

so cheap and juicy
Moderator Emeritus
15+ Year Member
Sep 26, 2002
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Lots of us here are borrowing more than $30k/year, so it can be done. I don't know about the living expenses -- you didn't state how much tuition is, and it really depends on where you live.

Critical Mass

$38,500 here; and I sleep very well at night with my leftovers in a CD.


Full Member
10+ Year Member
Apr 13, 2007
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Keep in mind you have the right to appeal your financial aid package offer. It may not change, but it doesn't hurt to try. You can also ask about a campus job to offset some costs. You have to check with your school on their policy about outside aid but you can also look for your own scholarships. Some schools allow it, some don't. http://www.fastweb.com/ is a great free resource for finding scholarships, you fill out a little info and it searches for things you are eligible for.