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- Jan 13, 2011
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For those of you who plan on taking out loans to pay for medical school, how much do you all think you will end up borrowing/year? At my school for 2011-2012 tuition jumped from 35,080 to 37,080. They estimated on the budget they gave us that living expenses were something like 26k... So thats ~63k per year. Granted if you live a modest lifestyle you can cut corners on that budget and save maybe 5k max, but thats still ~55k+ per year, assuming you have no income. Google says average med school debt is like 100-150k after four years. Those must be old figures or for public schools. With the numbers I just put down its going to be more like $220k debt after four years. Let me know what you all think about these numbers, and any strategies you all have thought of to save $$ in the end. bear in mind my numbers may be a bit higher as I have a wife and infant child. We will all be docs one day, but debt is debt... Let me know your thoughts please.