1. The SDN iPhone App is back and free through November! Get it today and please post a review on the App Store!
    Dismiss Notice
  2. Dismiss Notice
Dismiss Notice

Interview Feedback: Visit Interview Feedback to view and submit interview information.

Interviewing Masterclass: Free masterclass on interviewing from SDN and Medical College of Georgia

loans have put me in a hard place-read and advice please!

Discussion in 'Pre-Medical - MD' started by dr1989, Jul 28, 2011.

  1. dr1989

    2+ Year Member

    Joined:
    Mar 22, 2009
    Messages:
    200
    Likes Received:
    0
    Status:
    Pre-Health (Field Undecided)
    originally i was planning on applying to master programs and smp programs this spring to amp up my application n overall gpa

    but i just finished up my mandatory senior financial counseling and im looking at graduating with 33K in loans:eek::eek::eek:

    now i personally am not a person who wants to carry loans before i start med or grad school since then i REALLY will be hittin the big numbers in terms of loans

    i have a well paying job and a good job offer when i graduate-it will allow me to work and pay off my debt within 1 1/2 yrs..

    that said-if i take some extra undergrad courses such as biochem (required for some med schools) during my gap year, while workin....should i still apply after ive paid my loans off OR stick with the plan and apply for a post bac and then apply to med school?

    i just want to bring up my overall gpa to higher than a 3.0 since my science is strong...

    other thing im concerned about is my job offer is a lab assistant at UCLA dental school-i hope it doesnt hurt my chances-but ive been assured that its a good experience nonetheless and gives me some diversity....(already have been workin (paid) in an ER for 2+ years and counting..)

    just think-your a 23 y/o in my position-3.0 cgpa, 3.4sgpa...what would you do?

    As Always-I appreciate all your responses!! :)
     
  2. Note: SDN Members do not see this ad.

  3. postbacpremed87

    7+ Year Member

    Joined:
    Jan 26, 2011
    Messages:
    2,049
    Likes Received:
    581
    Status:
    Medical Student
    College debt is really the one thing that made me think twice about medicine. In the end, there are few careers with the capability to pay it off. $150,000-$200,000 in debt is a lot easier to swallow if you're making $200,000 a year. Live frugally a few years after your complete your residency (live on a budget slightly better than when you were a resident) and pay off a huge portion of your debt within a few years.

    Pay back $6000 a month for 2-3 years and live on the rest.
     
  4. gettheleadout

    Moderator Emeritus 7+ Year Member

    Joined:
    Jun 22, 2010
    Messages:
    11,815
    Likes Received:
    2,779
    Status:
    Medical Student
    With only $33k in undergrad loans you really won't be getting a lot of sympathy here...
     
  5. rihdus

    2+ Year Member

    Joined:
    Feb 11, 2011
    Messages:
    94
    Likes Received:
    0
    Status:
    Pre-Medical
    33k is not that much compared to a lot of people and considering that the total 4 years of undergrad averages to about a 250k.
     
  6. BarcaBest23

    BarcaBest23 Member
    7+ Year Member

    Joined:
    Sep 13, 2009
    Messages:
    195
    Likes Received:
    68
    Status:
    Non-Student
    just stack another 33K onto the massive debt from med school... when someone says I owe 250K vs 280K .... you say holy **** either way don't you??
     
  7. Person0715

    Person0715 Socially awkward
    2+ Year Member

    Joined:
    May 12, 2011
    Messages:
    1,379
    Likes Received:
    706
    Status:
    Medical Student (Accepted)
    250k is the sticker price for 4 years of a private undergrad. That is not nearly the price most people pay for undergrad. For one, many people choose to go to their state schools for a fraction of the cost. Secondly, if one does choose to go to private school, top privates, often the most expensive, offer the most generous financial aid for those that qualify.

    I would consider 33k to be a slightly above average amount of loan debt. It is not crippling, but it is definitely not something you can afford to overlook for the time being.
     
  8. gettheleadout

    Moderator Emeritus 7+ Year Member

    Joined:
    Jun 22, 2010
    Messages:
    11,815
    Likes Received:
    2,779
    Status:
    Medical Student
    Uh, no.

    The average college graduate student loan debt is around $22,900, per Consumer Reports.
    You would be correct, apparently.

    I would've wagered the average to be a bit higher, but hey, the more you know.
     
  9. NewYorker9

    7+ Year Member

    Joined:
    Aug 11, 2010
    Messages:
    489
    Likes Received:
    62
    Status:
    Medical Student
    Definitely give your state schools a hard and long look for your post bacc program if you do one and med school
     
  10. KLycos

    KLycos ASA Member
    7+ Year Member

    Joined:
    Apr 13, 2009
    Messages:
    484
    Likes Received:
    24
    Status:
    Resident [Any Field]
    I have about 30k in loans too after college.
     
  11. dr1989

    2+ Year Member

    Joined:
    Mar 22, 2009
    Messages:
    200
    Likes Received:
    0
    Status:
    Pre-Health (Field Undecided)
    my school is indeed a private school and total tuition for 4 years is about 160K i did get a a generous amount in scholarship and fin aid but it also helped that i transferred from a cc

    with that said-should i continue to apply for my masters or just work and take additional undergrad courses during my gap year??
     
  12. Astarael

    7+ Year Member

    Joined:
    Mar 25, 2010
    Messages:
    2,200
    Likes Received:
    18
    Status:
    Medical Student
    I think you're missing the point here. If the loans are federal student loans, they go into deferment when you go back to school. The real issue is your GPA. If you can get your GPA competitive (think 3.6 for MD schools, 3.4 for DO) over whatever period you are considering classes, then go for the post-bac. Otherwise you'll need to do an SMP.

    Good luck!
     
  13. tn4596

    5+ Year Member

    Joined:
    Jul 23, 2011
    Messages:
    845
    Likes Received:
    10
    Status:
    Medical Student
    i would pick working, post-bachelor path
    from what i heard a master doesnt rly justify the cost and it would just put you into more debt. that being said, you should take more than one class while working cuz your gpa is rly low. i wouldnt worry about the job at ucla,if it is a well paying job compared to the one at the ER, then it is good.
     
  14. Brachyury

    2+ Year Member

    Joined:
    Jul 19, 2010
    Messages:
    677
    Likes Received:
    6
    Status:
    Medical Student
    SMPs are expensive. If I were you, I would take a job and work. While working, study and take the MCAT, and take night classes through a local extension school to boost your gpa. Do not think about an SMP until you have an MCAT score. If you score, say, a 33, with your gpa, an SMP may not be a bad option; if you score a 28, your best bet would be to apply DO and not even worry about doing an SMP.

    Right now, you need to create a game plan: when will you take the MCAT; do you want to apply to MD, DO, or both; what year would you like to start med school; where do you want to go to med school.

    Good luck :luck:
     
  15. dr1989

    2+ Year Member

    Joined:
    Mar 22, 2009
    Messages:
    200
    Likes Received:
    0
    Status:
    Pre-Health (Field Undecided)
    if i can get a 33 and boost my gpa to like a 3.4-3.5, would that give me a shot at md school? im surprised that do schools accept a score of 28...im guessing theres a higher gpa pre-req to offset the low score?
     
  16. isoquin

    isoquin Allopathetic
    5+ Year Member

    Joined:
    Jun 17, 2007
    Messages:
    468
    Likes Received:
    5
    Status:
    Medical Student
    I fail to see what your problem is. You're kind of all over the place. The title says it's about money but your debt is relatively low, and your posts are focused on everything from MCAT to gpa to what to do next year. In your mind, what is the most pressing issue?
     
  17. desi0chick

    7+ Year Member

    Joined:
    Sep 6, 2009
    Messages:
    160
    Likes Received:
    19
    Status:
    Medical Student
    I think he generally seeks advice on what to do. I too will have about ~30k in loans after I graduate college but considering you improve your gpa and study hard for the mcats you won't even have to worry about having to pay back the loans immediately (if they're federal they get deferred).
     
  18. dr1989

    2+ Year Member

    Joined:
    Mar 22, 2009
    Messages:
    200
    Likes Received:
    0
    Status:
    Pre-Health (Field Undecided)
    if its one thing-then it will be my overall gpa-merely at a 3.0
    and im assuming with the competitive nature of med school-even if i have a high science gpa and mcat score-i still would need to raise that overall gpa before applying to any md (not do) schools
     
  19. dr1989

    2+ Year Member

    Joined:
    Mar 22, 2009
    Messages:
    200
    Likes Received:
    0
    Status:
    Pre-Health (Field Undecided)
    *she :)
    and as for the loans-about 20K comes from private loans-where im paying the interest now every month-but yes, assuming i do get into grad school-i have the choice of deferment
     
  20. isoquin

    isoquin Allopathetic
    5+ Year Member

    Joined:
    Jun 17, 2007
    Messages:
    468
    Likes Received:
    5
    Status:
    Medical Student
    ok. $30,000 is nothing in this field, so wipe the woe-is-you idea from your mind that you're poor off. Med school will easily leave you will several times that amount, and regardless of how much debt you come out with, one to two years of attending salary will topple it.

    What you need is a turning point. Instead of throwing countless credits at a poor GPA to barely raise it, invest your time and money in a graduate program that will leave you with a Masters Degree and a brand new shiny GPA. Make no mistake that you will need to work your butt off in this program to prove beyond any doubt that you have what it takes to push yourself academically and succeed in graduate classes.

    But really, don't sweat the money - it will take care of itself. If you want to save money, don't go to med school. :p
     

Share This Page