MSUCOM out of state financial aid

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MDmiracle

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Hey i was wondering if anyone here is an out of state MSUCOM'er. If so can you fill us in on the logistics of paying the high tuition cost? I have an interview there in jan. and am trying to learn as much as I can. thanks for the info.

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school loans =) that's about all the logistics you need.

basically living expenses in MI aren't that high...if you want an estimate, you can look online at their site.
 
i get the loans part, but i am not sure if i qualify for private loans. So how can it be done with only the schools aid packages, i.e. stafford loans and federal grants?
 
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MSUCOM...ouch for the living/tuition of being out of state.

60-70k a year!!!' that's from financial aid.

When I interviewed in October, they told me they had one student from CA. If you contact admissions, they will refer you to some of their out of state students who can give you more info.

Good luck!
 
This was what I gathered from my encounter with the financial aid officer at MSUCOM....or at least what of it I can remember. Please correct me if I'm wrong! MSUCOM has made a budget that delineates what they think a student attending their program would require in order to be sustained. They break it down according to tuition, books, transportation, food...etc. Subsequently, they come up with a total amount that students might need...being generous in their estimates. It was and is my understanding that MSUCOM gives this amount to the federal government and it is this amount that is available to you for loans. So, if necessary...and provided that you don't have debt that's too significant, you can be loaned that total each year. Only a fraction of these loans, however, will be subsidized. If additional loans are necessary, you will then need to seek out private lenders. I think this issue of seeking private loans becomes more significant when you start talking about applying to and interviewing at potential residency locations.
It may be that they instead of the government being there to loan you the total amount...that MSUCOM will line you up with the appropriate lenders. Either way, I do know for a fact that you can get loaned to you as much as MSUCOM budgets for you...which again is seemingly generous in its estimation.
 
I interviewed earlier this year and was accepted as an out-of-state resident.

This is what I know...

MSUCOM actually is 5 years, not 4. Let me explain, MSUCOM goes through summers for your first two years, and this is considered a full year when the two summer semesters are combined. The cost for the summer alone is about $20k. You are allowed to borrow for five years worth, instead of the regular 4 years that you would get at other medical schools.

Also, you can defer enrollment for one year and live in MI. The admissions department will help you find employment on campus doing research or something (at this was offered to me)...then you will pay in-state which is much, much cheaper.
 
hey there - i spoke with a friend of mine that is out of state after reading this thread and yes, he is paying a pretty penny for school right now here at MSUCOM. however, getting in state status is possible. also, at least for me personally, i have wayyyyy more financial aid available than i need. it just depends on your situation. my wife works as do many of my buddies wives, and none of us have kids, so having someone else around to help with bills, or splitting a place with some people from school, can definitely keep the bills reasonable. i know one group of four guys that actually live with an attending at the hospital and he charges them next to nothing (and they can use his hottub).

also, we do not go to school for five years, we simply have six more weeks of class than the MD school does in the summer. although this may seem like a setback and a bit more expensive, it ends up an enormous benefit in the end.

why? second year we only have classes four days a week, and every friday we are at a preceptorship at a family practice clinic. this means you will be in a docs office, beginning your second year, every friday. pretty cool stuff, from what i hear you're heads and tails above the rest when third year rotations come along because you have been doing alot of clinical work already.

irregardless of the costs, whatever amount of money you spend on school is an investment in your future. yes, it may be a costly one but i would pay three times what i do right now just to be able to continue this process. its tough but amazing, fun, etc.

best of luck with your interview, i gotta go back to studying for our anatomy test tomorrow!

Ratch~MSUCOM 2007
 
http://www.finaid.msu.edu/med/budcom.asp

I did not mean that those who attend MSUCOM actually go for 5 years, but they are eligible for 5 years worth of financial aid from the government. I am fairly certain this is true as I do remember being told this. The summer from Block 1 is 3 months and the summer from Block II is 2 months....and the summer from Block III is 3 months...as stated from the website. This is considered the 5th year of eligibility from the US government.

OP (original poster) if you are going for an interview you will find out more yourself...but from the link above you can see the costs for in-state and out-of-state.
 
Thanks Pooh Chong for posting that link, I was just about to do that, as everyone keeps speculating about MSUCOM's costs!

Another thing to keep in mind is that since you are going to school in the summer, finacial aid will take care of you in the summer, so your rent and bills will be covered all year round (exception being 1 month after block II). Other schools that have summers completely free I'm guessing don't give you financial aid during this period. What do they expect you to do? Go back home to your parents for the summer like in undergrad? Get a job at the mall/grocery store/gas station?

I wonder what students at other schools do in the summer to make ends meet.

*Soleil*
 
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