LECOM or UNECOM

[TKC8]

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I've been accepted to both schools and have really thought about it for several days now. Just can't make up my mind. Does anyone have any info that would help me make up my mind.

I have a family-wife and 2 kids

Thanks for any advice!

 

[TexasTriathlete]

Which one do you like better?

 

[TKC8]

Which one do you like better?

I really like them both and I can see myself going to either. I really want somewhere good for my family.

 

[DC DOC]

I really like them both and I can see myself going to either. I really want somewhere good for my family.

Is it Erie or Bradenton? If it is Erie, then you know about the great tuition. I am not sure about UNECOM, but LECOM's tuition is amazing. Also, I have been looking for houses in Erie because I will be attending next year. The prices are ridiculously cheap. 4 bedroom house from 80,000 to 150,000. You are able to own a home while in school and create an investment opportunity during those 4 years. If you play your cards right you can make some money on it. I have a family as well and understand the need to have a good place to live. Also, I was impressed by there PBL program which I be following.

 

[SmallTownEMT]

I think it depends on what is important to you. If money is something you are considering LECOM is, as I'm sure you know, the cheaper of the two. Perhaps you'll want to look at the area your family will be in. Erie isn't overly large, but I consider it to be more of a city than Biddeford. Ask yourself if it is important to be in a city or a more rural area. Maybe check into the school system of each area for your children too, things like that.

Does either school offer spouse or family support? Some schools do, so you might want to check into that. Perhaps you can get into contact with some students with families and see what they think. I interviewed at both schools and met people with families at both, so you might want to ask around. Maybe the schools can help you get in touch with some of those students.

Either way, I don't think you can go wrong in the end. Both are great schools.

 

[TexasTriathlete]

I've never been to either (although I'll be interviewing at LECOM in about a month), but I can't think of any reason that either would be bad for your family. Maybe take a trip to both schools, bring your family, and see what they think.

Given your criteria, and the nature of both schools, I don't think this is a question that anyone but you can answer.

 

[TKC8]

Thank you all for the advice. I have until Dec 15 to decide so I think I will take the family out to both and see what they think, or at least the wife. Thanks again.

 

[Obnoxious Dad]

Is it Erie or Bradenton? If it is Erie, then you know about the great tuition. I am not sure about UNECOM, but LECOM's tuition is amazing. Also, I have been looking for houses in Erie because I will be attending next year. The prices are ridiculously cheap. 4 bedroom house from 80,000 to 150,000. You are able to own a home while in school and create an investment opportunity during those 4 years. If you play your cards right you can make some money on it. I have a family as well and understand the need to have a good place to live. Also, I was impressed by there PBL program which I be following.

Buying a home in Erie might be a great idea. If you live in the home for more than two years and sell it at a gain, the gain will in all likelihood not be taxed.

However, you could get skinned alive. Erie is not a charging rhinoceros of prosperity. You can not count on appreciation of real estate. You also don't REALLY know the real estate market there. Real estate agents love relocation work because they know the customer can get clipped. This happened to me. 😡

Furthermore what happens if the joint needs major repairs and you're in med school? Where will the cash come for that?

Another problem is clinical rotations. What if they aren't in Erie? Do you want to carry two places? I've been there too. 😡😱

Buying a place might be a great idea, but look out!!!

 

[Obnoxious Dad]

I found a website with Erie real estate listings and the prices are astonishingly low. Here's the site:

http://www.trulia.com/PA/Erie/

It may be possible to buy a place for $100,000 and get away with $9,000 per year of principal, interest, insurance and tax payments. This might be a savings over rental costs, if the place is in good shape.

One other thing to consider is the transaction costs associated with getting out. If you can't sell it on your own a lady with blue hair and a Buick will be very happy to take six grand from you to market the house. The supposed savings associated with ownership will turn out to be a mirage!🙁

 

[Obnoxious Dad]

The era of the no money down mortgage is over. If you buy a house you'll probably have to put down at least 15% of the purchase price? Wouldn't it be better to put that cash in an interest bearing rainy day fund?

The biggest concern of all is schools. If you have school age kids, what do you do if the schools stink in the neighborhood/district in which the house is located? It may not be possible legally to get them transferred. Will you put the kids in private school? You'll be too strapped financially to do that. Any financial reward from buying and then selling will be meaningless if you are sending your kids to a lousy school. It will make med school even more nerve wracking/frustrating/irritating/guilt inducing etc.