Married Couples Please Help!

[komodor]

How can you finance a marriage in med school?
I?m just about to start med school (in August) and wanted to get married, before I started. I was wondering how I can mange this financially. I?m I just going to have to take out loans, errrrr!!! Kinda frustrating. Any advice would be great.

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[Doctor Peloncito]

You have a tough road ahead of you. I got married during my second year of college and it was tough. Fortunately I had lots of family support. I think you might want to consider holding off on the wedding until you can spend a large chunk of time together with your spouse. Even if you've been together for a long time, the time early in your marriage can make or break that committment. You chose a very tough time to get married. What will your spouse do while you are in med school? Even if he/she works, you will still need to pay tuition. Consider the fact that during the first year, you probably won't be able to spend much quality time with your spouse. Is this really a wise decision?? My wife and I struggled lots early on and I can't imagine doing what we did if I had been in med school. Even after being married for 5 years, the prospect of going to med school next year is daunting for our relationship. Fortunately we're committed to each other and understand each other's desires.

Best of luck

 

[komodor]

Thanks for the advice WannabeDO.
As for your question about what she is going to be doing during that time, well she has one year of left in law school. She is going to try and transfer to my my university and finish it there. We are hoping they will allow her to transfer, considering the circumstances.
But thanks again! And good luck with school.

 

[gem777]

Komodor- your situation sounds nearly identical to mine. My husband is in the middle of his internship and I am an attorney.

We married between his first and second years of medical school and between my second and third years of law school. I moved to where he was attending school and completed my 3rd of law school in that state.

I know very well the feel of looming student debt. However, I can't complain about our situation right now. We are happily married and we just bought our first home. I am paying back by law school debt at the 10 year rate. My husband chose to consolidate (excellent interest right now) and to defer payment on his loans as long as he is eligible. Our expectation is that once he completes residency we will begin to pay down his debt at a rapid rate. By that time, we will have paid more that half of my debt.

So, it can be done. We are very busy, and by no means have a lot of money. But, I cannot say that we are struggling.

Based on my personal experience, I think it is helpful to you that your fiance/wife will be in school/working. You will be very busy and she will have her own life, instead of depending on you for one.

So, I know the financial burden may seem overwhelming, but I think it is definitely do-able. Good luck.

 

[Wifty]

Hi there!

Basically, everyone lives off of loans. There is also the National Health Service Corp scholarship available and the Military scholarship, and you can look into if either of those would suit you.
Also, it REALLY helps if you are able to get rid of certain debts....such as pay off the credit cards and car payments before school starts. Then you need to have fewer loans.
And, if you have a choice, choosing somewhere where there is a lower cost of living can REALLY help. Hubby and I live off what they gave him which was a budget for a single person in this area. However, it is so inexpensive to live here, that we can both live on his budget......plus still pay for me to finish college.

Good luck! I know it is daunting.....but like someone else said, it is doeable. Having a lawyer and a doctor in the family will mean that your loans will easily be taken care of when you get to the other side.

With smiles,
Wifty