Loans and debt

[qwe7791]

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I'm currently an undergrad and have racked up quite a bit in loans. Do you guys really care about that in med school? I mean, yeah, I'll pay off a little bit each month to prevent the interest from accruing during undergrad, but once I get to med school, I'll be taking out lots of loans again. But in my mind, it'll pay off in the end if I become a successful MD.

Is this a good mindset to have or no? Let me know what you guys think. Thanks!

 

[mvenus929]

I try to take out the fewest amount in loans I can, but I try not to think about how much I'm taking out. The blow is softened a bit because I get some grants and scholarships from my school, so I'm not paying the full CoA, and thus don't need Grad PLUS loans, but it's still painful to think about.

I don't doubt that I'll be able to pay them off, though.

 

[gmcguitar4]

I'm in the same boat as you. Bunch of undergrad debt and paying for med school with all loans. Best thing to do at this point is to keep your cost of living as low as possible for the next 10-15 years.

 

[Smurfette]

Moving to PreAllo as OP is premed.

 

[thesauce]

Now is the best time to learn to control your expenditures. Really think hard about where your money is going and how to get the best value for everything you purchase. Learn to save on rent, food, transportation, and recreation. Do not just assume it's all going to be sunshine and rainbows as an attending. Even if you don't believe earnings are going to decrease, these are sill great habits to get into.

 

[survivordo]

You're not alone in having massive debt in medical school. I try to encourage people to STRONGLY consider cost when choosing where they attend school, especially undergrad (pro tip- it really doesn't make a difference where you go!). Too late for you now, just keep your cost of living low and continue to live like a resident for a few years to try to pay those loans off quickly!

Survivor DO