LSU-NO vs Temple (LKSOM)

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noladancegirl

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This pretty much boils down to finances. LSUs CoA is roughly $40k for me as an in-state resident whereas Temple’s is $80k. Temple’s matches are superior and I like temple much more overall as a school but is it worth more than twice as much debt (when including interest)? I could really use some opinions and I would like to hear from people that have already or are currently paying off debts of more than $250k.

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This pretty much boils down to finances. LSUs CoA is roughly $40k for me as an in-state resident whereas Temple’s is $80k. Temple’s matches are superior and I like temple much more overall as a school but is it worth more than twice as much debt (when including interest)? I could really use some opinions and I would like to hear from people that have already or are currently paying off debts of more than $250k.

There isn’t a real difference in prestige here between the two schools. An extra 160k with compounding interest is a lot of money. Unless you feel like you’d be absolutely miserable there, pick LSU.
 
There isn’t a real difference in prestige here between the two schools. An extra 160k with compounding interest is a lot of money. Unless you feel like you’d be absolutely miserable there, pick LSU.
In terms of matches there’s a pretty significant difference and I do have a ~small~ scholarship from Temple. I guess I could’ve made a more comprehensive pro-con list like others do too but this is the main issue I’m struggling with
 
There isn’t a real difference in prestige here between the two schools. An extra 160k with compounding interest is a lot of money. Unless you feel like you’d be absolutely miserable there, pick LSU.

I agree that the prestige difference probably isn't that big, but the schools probably do have varying regional reputations. LKSOM has far more connections in the Northeast while LSU with the southeast. If OP wants to do her residency in the Northeast, I'd say she'd have a much easier time securing one at Temple. If she doesn't care which region she does her residency, then I'd go with LSU.

In terms of paying 250K+ debt, here's some of the more popular (and smarter options)

1. Public Service Loan Forgiveness..... Betting your marbles on this program is risky due to the on and off talks about it being defunded or changed so that it will no longer be of use to medical school graduates. However, if the program is unchanged by the time you graduate, it's a viable option. Pretty much, you have to do your residency/fellowship at a non-profit, qualifying hospital (most academic hospitals will qualify), and then also work for a qualifying hospital/institution after your residency/fellowship until you reach a total of 120 months of payment. The program is best when you sign up for income-based repayment (PAYE/REPAYE). If everything works out, this plan could save you hundreds of thousands of dollars.
Here's some more information about it that shows you the potential huge benefits. I think I read a statistic where about 40% of graduating medical students choose this route of repaying back their loans.

2. Refinancing your loans after graduation.... Refinancing your loans at a lower interest rate will lead to less interest increase, and more manageable interest increments during your time in residency. I highly advise not to defer loan payments during your residency as it will just lead to more money you have to pay back. This is probably the best route if you don't want to work for a non-profit institution after completing your residency training due to a potentially higher salary increase you could receive.

3. Negotiating contract with your employer... often times employers may help you pay off your student loans, especially if you're serving a rural or underserved area.

Overall, you want to be smart and seek guidance when paying your loans. Talk to your school's financial office and also look at resources such as the White Coat Investor.
 
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I’d go with Temple but I’m biased. For what it’s worth, I also received a small scholarship and then received a larger one. Applicants are going to be letting go of some of those smaller scholarships to go to other places and that will land back into the accepted students.
 
Where do you want to end up practicing in the end? I'd pick LSU, but I'm biased towards the south
 
How much more do you like Temple?

For me, I don't think you can go wrong with either.

It's going to be about where you will be happiest and cost, then weighing it out.
 
LSU hands down. Come out of school with as little of debt as possible. Like someone said before, unless you realistically can’t picture going to LSU, pick LSU.
 
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