Just want to make sure I'm not missing anything (average graduate indebtedness)

[BaronVonZ]

At virtually every school there is an enormous difference between cost-of-attendance-times-four and average graduate indebtedness. Sure, I know some people's parents help and some people get scholarships, but is that really making up for the enormous difference? I feel like I must be missing something.

For example:

At Emory the average graduate indebtedness is $134,000, but COA x4 = ~$300,000. Even with a level of financial assistance based on my need (which is considered disadvantaged at most places) my total cost would be ~$280,000. Are half the students being paid for in full by their parents?? There are only a few academic merit scholarships...

I'm trying to sort this out because two schools I'm comparing have enormous differences in my COA x4 calculations but their average graduate indebtedness is almost identical...

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[Barcu]

At virtually every school there is an enormous difference between cost-of-attendance-times-four and average graduate indebtedness. Sure, I know some people's parents help and some people get scholarships, but is that really making up for the enormous difference? I feel like I must be missing something.

For example:

At Emory the average graduate indebtedness is $134,000, but COA x4 = ~$300,000. Even with a level of financial assistance based on my need (which is considered disadvantaged at most places) my total cost would be ~$280,000. Are half the students being paid for in full by their parents?? There are only a few academic merit scholarships...

I'm trying to sort this out because two schools I'm comparing have enormous differences in my COA x4 calculations but their average graduate indebtedness is almost identical...

Yeah, I've heard avg indebtedness is misleading because it includes people on scholarships (including military scholarships which pay everything) and people who get school paid for. And I think a surprising number of people do get school paid for by parents (after all, people going into medicine tend to come from money).

Avg indebtedness is not the greatest stat.

 

[LizzyM]

Beyond merit scholarships, some school offer need based grants. As someone pointed out, many med students come from families of professionals and schools want a mix of students and so need based aid that doesn't have to be paid back is one way that schools attract those students. Another thing to consider is that cost of attendance is sometimes quite generous so that students with high expenses are covered. If you live more modestly and keep your expenses low, you can get by on less.

 

[BaronVonZ]

Thats what I had expected... the difference was just so substaintial I thought there might have been some other factor.

...That and I have a dream school acceptance thats so expensive I was hoping I had made some kind of calculatory mistake So much for that!

 

[Robinson Crusoe]

Another factor, though it obviously doesn't make up for the difference you are describing, is that the average indebtedness is for the graduating class who are 4 (or 5?) years ahead of us. COA goes up every year.

 

[NickNaylor]

Another factor, though it obviously doesn't make up for the difference you are describing, is that the average indebtedness is for the graduating class who are 4 (or 5?) years ahead of us. COA goes up every year.

That's a very good point. If you assume ~6% increase annually over four years, the cost goes up significantly compared to the data that you probably see in the MSAR.