Mmmkay,
For a long time I was considering the Military route to pay for school, but now having gained a better perspective on the situation....I don't think so. So my question is this, NOT INCLUDING TUITION how much have you guy's found necessary to take out in loans for living expenses? Not living extravagantly of course, but a modest apartment, used car payment (mine is about to tank) and the basic necessities of life? Forgive me for being impolite to inquire about your finances, but any guidance would be greatly appreciated.
Thanks Everyone
Well, I'm not in med school YET... But I'll be happy to tell you how I've survived thus far.
I am already in the hole $70,000 in student loans for undergraduate and graduate school. I am now taking med school pre-reqs which are costing me about $2,500 per semester.
When it comes to living expenses, it all depends on your geographic location. I'm at Texas Tech right now which is in Lubbock, Texas. Lubbock is a very cheap college town. I pay $425 a month for my little apt., but it's all-bills-paid, so that helps. However, I pay another $100 per month for cable/internet. As well as $125 per month for health, life, and dental insurance.
I just sold my truck so I would have a small pad of money to sit on in addition to my monthly paycheck. Which by the way is only about $750. I work part-time and ride my bike to work and school.
My previous truck payment was $250 per month with another $40 for insurance, so loose the car, loose $300 per month in bills. However, it is sometimes a pain not having a vehicle.
I eat cheaply, but good. Try and cook meals like soup, spaghetti, things like that that are cheap to make, but you can stretch into 2-3 meals each.
Buy cheap clothes. No need to impress anyone. If you have a Khols where you live, hit the clearance rack. I never pay more than $5 each for pants or shirts.
Like you, I am already thinking of future expenses and how much more I'm going to need in loans to make it through med school.
If I can get into the one DO school here in Texas that'll be great since tuition is only $11K per year, but chances are I might get accepted out of state which means I'll be looking at $28K-$33K per year. (By the way, I'm not applying to any schools that are over $33K per year. I think there are about 8 of them that are.
Here is what I am calculating as my future living expenses. Maybe this will help you too... Keep in mind, you and I have no idea where we'll end up, but...
Rent: $600
Utilities: $125
Vehicle: $200
Car Ins. $50
Food: $200
Med Ins: $125
Cell Ph. $50
Misc. $100
TOTAL $1450-$1500 per month
So, about $18000 a year not including tuition/books/etc. AND since the max you can get is $40K in loans per year, this leaves ME with a max tuition bill of around $28K-$30K
Your financial situation might be completely different, but that's what I'm looking at.
I'm also trying to save as much as I can right now, so in 2 years when I hopefully head to med school, I'll have at least $5K in the bank to help.
Just remember, never give up!!!
I feel sorry for the people who have everything handed to them. Being broke builds character and makes you appreciate what you have, in addition to working harder for what you don't have. Sacrafice is the name of the game.
Oh, and remember too... If you're never broke on your way to the top, what kind of stories are you going to tell your children/grandchildren.
"I remember when I had to walk to school...10 miles...up hill...both ways." Haha... my parents told me plenty of those. Their favorite was telling me how in college they would cook a pot of beans on Sunday night...and that would be all they shared to eat for the coming week. (Funny how life repeats itself.)
