loan and scholarship $

[javi]

I have seen multiple postings that discuss dept after pod school. Most average from 25K to 50K. Why so low? I would imagine it to be closer to 100K based on the cost per year of schools. Are scholarships that abundant? I understand some people have another source helping them with the cost (parents), but any feedback from someone who had only loans to cover the cost? I am considering school and would like to know what kind of dept I would have post school, since have quite a bit consolidated from my BS.
On another topic altogether, I have contacted a few schools concerning the application process. Admissions departments tell me that it is best to get my application in the mail early September 2007 for the 2008 class. Any feedback on that? I, like anyone, want the best chances of receiving scholarship money and I understand this is why the application should be there sooner than later. I currently work 60 hours a week in a hospital and getting home at night and reading Examcrackers isn’t my first choice of things to do. So I don’t want to do average on my MCATs in July so that I can have my entire application completed by September, but again at the same time would like to have the best chance for scholarship money. Would taking the MCAT closer to the end of the year hinder my chances of a scholarship? Along with a good score of course.
Thanks.

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[Feli]

Average debt for any medical program is surely over $100k. You could look it up, but 4 years of tuition alone will be about $80-110k for four years of pod school depending on which school you choose. Add in living, books/instruments, board exams, transportation, etc, and you are looking at a pretty substantial investment. It's true that a few lucky people graduate with zero debt due to lots of family help; a couple elite students might only have $50k due to tons of scholarships. For the vast majority, though, a large debt from pod school is a given. A rough figure might be around $150k total cost for pod school assuming you finish in 4 years, have no scholarships going in, and don't earn any while there. Years 1-3 cost roughly 35k each and 4th year costs maybe 40-45k (due to extra travelling on clerkships/residency interviews and taking pt II board exam). The school websites and fin aid departments are a pretty good source of financial info if you do your homework.

Scholarships are a great way to minimize your debt or get extra money. Their availability to you is largely dependent on your previous academic success. Your chances of getting a sizable scholarship from the pod school itself would certainly increase if you apply, interview, and are accepted early. Many people who gain acceptance at the last minute (summer before they start the program) are left with no or minimal school scholarship even if they do have solid GPA/MCAT because the school's scholarship money might already be gone or very thin by that point. Many private scholarships consider academics also, but some are more contingent on applicant ethnicity, gender, or home state.

A few people (myself included) work a part time job while in pod school to make extra money or borrow less, but they're definetly the minority and it can jeopardize your grades a bit if you're not careful. A fair amount of students TA or tutor a couple hours per week and it helps to get you a little extra spending $, but expecting that to significantly minimize your debt is like trying to win the Indy 500 with a Ford Escort.

As to the lower debt figure you refer to, you might have been misread my post in another thread where I stated that some people who flunk out leave with $25-50k in debt. That is because they only lasted for a year or so; completing the program and attending for 4 or 5 years will cost you significantly more.

 

[Dr_Feelgood]

I have seen multiple postings that discuss dept after pod school. Most average from 25K to 50K. Why so low? I would imagine it to be closer to 100K based on the cost per year of schools. Are scholarships that abundant? I understand some people have another source helping them with the cost (parents), but any feedback from someone who had only loans to cover the cost? I am considering school and would like to know what kind of dept I would have post school, since have quite a bit consolidated from my BS.
On another topic altogether, I have contacted a few schools concerning the application process. Admissions departments tell me that it is best to get my application in the mail early September 2007 for the 2008 class. Any feedback on that? I, like anyone, want the best chances of receiving scholarship money and I understand this is why the application should be there sooner than later. I currently work 60 hours a week in a hospital and getting home at night and reading Examcrackers isn’t my first choice of things to do. So I don’t want to do average on my MCATs in July so that I can have my entire application completed by September, but again at the same time would like to have the best chance for scholarship money. Would taking the MCAT closer to the end of the year hinder my chances of a scholarship? Along with a good score of course.
Thanks.

A few things:
1) I'll be about 160K in debt when I am done with school.

2) Some schools give scholarships to 1st year students but if the scholarship is given passed on academics only 10% or 25% of the students will retain that scholarships.

3)Most scholarships are not given until the 3rd and 4th year b/c they know you will probably graduate and be able to give back (whether it is a school or a national organization)

 

[Feli]

A few things:
...2) Some schools give scholarships to 1st year students but if the scholarship is given passed on academics only 10% or 25% of the students will retain that scholarships....

This isn't really true for Barry - at least based on my class.
Merit scholarships are given to most accepted students, and they seem to range from $2-8k per year depending on acceptee's strength and when they were accepted. It only takes a 3.0gpa to maintain them each year, so many students (definetly more than 10-25%) renew their scholly or even get that amount each year for all 4 years. There's other smaller fallback scholarships so that students who don't keep up the GPA requirement or switch to 5yr program still get a little financial help too. I think it's a pretty nice move by the university. Tuition here is less than average for pod schools but cost of living in Miami is expensive; the scholarships certainly help out there.

I'm pretty sure OCPM also has half-tuition scholarships (roughly 10-12k per year?) that are only given to a few incoming students, but they are renewable if you stay near the top of the class. Maybe someone from OCPM could clarify on that.

I just don't think it's true that all scholarships pod schools give to incoming students are going to be lost. Many will be maintained if the student works hard.

 

[krabmas]

I have seen multiple postings that discuss dept after pod school. Most average from 25K to 50K. Why so low? I would imagine it to be closer to 100K based on the cost per year of schools. Are scholarships that abundant? I understand some people have another source helping them with the cost (parents), but any feedback from someone who had only loans to cover the cost? I am considering school and would like to know what kind of dept I would have post school, since have quite a bit consolidated from my BS.
On another topic altogether, I have contacted a few schools concerning the application process. Admissions departments tell me that it is best to get my application in the mail early September 2007 for the 2008 class. Any feedback on that? I, like anyone, want the best chances of receiving scholarship money and I understand this is why the application should be there sooner than later. I currently work 60 hours a week in a hospital and getting home at night and reading Examcrackers isn’t my first choice of things to do. So I don’t want to do average on my MCATs in July so that I can have my entire application completed by September, but again at the same time would like to have the best chance for scholarship money. Would taking the MCAT closer to the end of the year hinder my chances of a scholarship? Along with a good score of course.
Thanks.

I applied and was accepted in April and got a scholarship 4 years ago.

It can happen but why take the chance if it is not necessary?

 

[Dr_Feelgood]

This isn't really true for Barry.

The merit scholarships are given to accepted students, and they seem to range from $2-8k per year depending on acceptee's strength. It only takes a 3.0gpa to maintain them each year, so many students (definetly more than 10-25%) renew them or even get that amount each year for all 4 years. There's other fallback scholarships for students who don't keep up the GPA requirement or switch to 5yr program too. I think it's a pretty nice move by the university. Tuition here is less than average for pod schools but living in Miami is expensive; the scholarships certainly help out there.

I'm pretty sure OCPM also has half-tuition scholarships (roughly 10-12k per year?) that are only given to a few incoming students, but they are renewable if you stay near the top of your class. Maybe someone from OCPM could clarify on that.

I'm not going to get into my opinion of the difficultly of Barry's curriculum but I think you gave a great summary to everyone with the comment that a majority of students receive a 3.0 or better.

This goes back to Jonwill's previous comments not to let a scholarship influence your school decision. All schools are not created equal.

 

[Feli]

I'm not going to get into my opinion of the difficultly of Barry's curriculum but I think you gave a great summary to everyone with the comment that a majority of students receive a 3.0 or better...

I'd guess that the slight majority who complete the Barry DPM program in 4 years probably do get above a 3.0gpa overall. I'd have to see statistics, but I'm not sure what the average graduating GPA is...

I'm not gonna argue, though. I think good podiatrists come out of all the schools. Some schools might tend to get better applicants or have a higher board pass rate %, but you can apply yourself and do well anywhere. The best fit for one student might not be the best fit for every applicant.