NYCPM loan questions

[MatCat85]

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Hi all, I'm new here. I recently got word that I was accepted to the class of 2011. Right now I'm filling out the financial aid information and the loan application. I figured I would take out the full $38500 of the Stafford for tuition and living expenses. The tuition is about $25,000 and I'm going to be commuting and making car and insurance payments, so the rest will be for food, and I think the Stafford will be enough since I will be living at home. I was also asking the people in the financial aid office about any extra fees for a first year student and they told me a $550 microscope fee, $500 for books (which seems pretty low to me), and an optional $900 for insurance if I'm not already covered. Does anyone know if there are any extra fees I should keep in mind? Do you guys think I am taking out too much or too little? Thanks in advance

 

[krabmas]

Hi all, I'm new here. I recently got word that I was accepted to the class of 2011. Right now I'm filling out the financial aid information and the loan application. I figured I would take out the full $38500 of the Stafford for tuition and living expenses. The tuition is about $25,000 and I'm going to be commuting and making car and insurance payments, so the rest will be for food, and I think the Stafford will be enough since I will be living at home. I was also asking the people in the financial aid office about any extra fees for a first year student and they told me a $550 microscope fee, $500 for books (which seems pretty low to me), and an optional $900 for insurance if I'm not already covered. Does anyone know if there are any extra fees I should keep in mind? Do you guys think I am taking out too much or too little? Thanks in advance

Assume that tuition is 26,000 including fees associated with attendence. At NYCPM not everyone buys every book. The books are all in the library and some are necessary to buy and others are not. I bought most books because I like having my own books. You can definitely spend more than $500 if you buy lots of study guides. There is the microscope fee.

The money that you get in september will have to last you until January when you get the other half of that year's money. The next disbursement is May or June and then the next one is in the middle of the Fall and then not until June again. There will be a 9 month stint with only 6 months worth of money. Just a warning that I wish I had.

About the amount you are taking...

38,500 - 26,000 - 550 - 500 = 11,450

11,450/12 = 954(ish)

You will have $954 a month for your first year. If your car payment, entertainment and food costs significantly less than $954 a month then I would say still take out the max and put it in INGdirect w/ a 4.5% interest rate. Pay off some of the interest on your loans and save some money for the next few years. 4th year can be expensive with traveling for externships. After the year passes you will not be able to take the money that you did not take in the beginning if you chose to not take the max.

Not everyone agrees with this method. As long as you are good with money and only spend what you need and not just because you have it this should be fine.

The second year NYCPM will take out $900 for boards part 1.

I hope this helped a little.

 

[Feli]

$550 microscope fee? WOW.
There are fine histo and pathology textbooks and websites, you know (KUMC and U of Iowa). I'd save your $ and your eye strain and just use those sites and a text/atlas like Ross or whatever your teacher or students who did well in the class recommend. Your school's lab should also have microscopes available during lab instruction or open labs. If they don't, I'm really surprised that students haven't raised cain about that by now.

If the $550 microscope is an absolutely required purchase because the school doesn't have them, can't you get used ones from students who flunked out or have finished histo and path?

There are definetly financial land mines you need to watch out for during pod school, though. This semester, I spent $1000 on surgical/diagnostic instruments and will spend $900 to register for boards in a week. I'm sure there are many significant expenses during 4th year also as kramba stated. It's probably best to just take out the maximum loan amount and just bank any extra $ for 4th year travel or things that come along..

 

[krabmas]

$550 microscope fee? WOW.
There are fine histo and pathology textbooks and websites, you know (KUMC and U of Iowa). I'd save your $ and your eye strain and just use those sites and a text/atlas like Ross or whatever your teacher or students who did well in the class recommend. Your school's lab should also have microscopes available during lab instruction or open labs. If they don't, I'm really surprised that students haven't raised cain about that by now.

If the $550 microscope is an absolutely required purchase because the school doesn't have them, can't you get used ones from students who flunked out or have finished histo and path?

There are definetly financial land mines you need to watch out for during pod school, though. This semester, I spent $1000 on surgical/diagnostic instruments and will spend $900 to register for boards in a week. I'm sure there are many significant expenses during 4th year also as kramba stated. It's probably best to just take out the maximum loan amount and just bank any extra $ for 4th year travel or things that come along..

The $550 microscope fee is not to buy the microscope it is to rent it for the year. It is needed for histo lab and infectios diseases lab. The school does not supply microscopes ( a negative side to not being affiliated with a larger umbrella school). You get about half back when you return the microscope. there is a waver sent in the mail where you can check off to have the microscope fee taken out of your financial aid. This way you never see the money anyway.

Why would you buy the most expensive stethescope? The most expensive otoscope and what ever else? Some of my classmates never bought a dimes worth of clinical equiptment and have doen just fine. I think there is a happy medium between buying everything and the most expensive vs what is necessary to do the job. I thought Barry goes thru the cheapest source and gets group rates? Gill Podiatry didn't treat you better than $1000?

The part about saving what you do not use...
This money should be put away before you spend even one cent of your dibursment check. Out of site out of mind. Do not wait to see what is left over at the end of the semester. Odds are nothing will be left if you do not make the effort to save 1st.

 

[Feli]

...Why would you buy the most expensive stethescope? The most expensive otoscope and what ever else? Some of my classmates never bought a dimes worth of clinical equiptment and have doen just fine. I think there is a happy medium between buying everything and the most expensive vs what is necessary to do the job. I thought Barry goes thru the cheapest source and gets group rates? Gill Podiatry didn't treat you better than $1000?...

Yes, they do go through Gill, and the deals are pretty good. Some of my classmates only spent about 6-$800 on instruments. We bought the "required" stuff: various nail clippers/anvil/nippers, Dremel and bits, various scissors, various blade handles, needle holder, sphyngomanometer, stethoscope, etc. Otoscopes and ophthalamoscopes are provided for us in PD lab, so we don't buy those. We had options on some instruments (ie plain Jane needle holder for $30 or gold handle carbide tipped for $65, 4" nail clipper for $40 or 6" for $60). Personally, I bought a lot of the higher end stuff and larger sized nail clippers just because I have big hands.

I also purchased an optional vascular doppler for $300, Littman Master Cardiology stethoscope for $150, and a leather case for $100. I guess that's probably why my figure is a bit higher than most of my classmates. I'm pretty interested in diagnostic vascular work of the lower extremity though - both clinical and research. I figured I want good equipment on externships and with me on all of my clinic rotations in case it is not provided at some locations.

What instruments do you guys buy, or do you just use the ones in your clinics?

I guess I understand the NYCPM microscope fee, but that still seems like a ton. Ouch... I sure hope the equipment is top notch. I think a few people in our class bought their own scope or one for their group and only spent $200-300 on it; it must be a highly inferior model, though.

 

[krabmas]

Yes, they do go through Gill, and the deals are pretty good. Some of my classmates only spent about 6-$800 on instruments. We bought the "required" stuff: various nail clippers/anvil/nippers, Dremel and bits, various scissors, various blade handles, needle holder, sphyngomanometer, stethoscope, etc. Otoscopes and ophthalamoscopes are provided for us in PD lab, so we don't buy those. We had options on some instruments (ie plain Jane needle holder for $30 or gold handle carbide tipped for $65, 4" nail clipper for $40 or 6" for $60). Personally, I bought a lot of the higher end stuff and larger sized nail clippers just because I have big hands.

I also purchased an optional vascular doppler for $300, Littman Master Cardiology stethoscope for $150, and a leather case for $100. I guess that's probably why my figure is a bit higher than most of my classmates. I'm pretty interested in diagnostic vascular work of the lower extremity though - both clinical and research. I figured I want good equipment on externships and with me on all of my clinic rotations in case it is not provided at some locations.

What instruments do you guys buy, or do you just use the ones in your clinics?

I guess I understand the NYCPM microscope fee, but that still seems like a ton. Ouch... I sure hope the equipment is top notch. I think a few people in our class bought their own scope or one for their group and only spent $200-300 on it; it must be a highly inferior model, though.

The microscope does the job. You get back half the money. And you do not have to pay for new lightbulbs since it is rented. If you buy it you are responsible for its upkeep.

We have equipment in our clinics and at the hospitals that we rotate at. We only buy a tuning fork, measuring tape, scissors, stethescope, blood pressure cuff (for lab only), otoscope and opthalmascope for lab but some do not buy it. I did not need any equipment on my externships. It was all provided at the clinics if there was clinic.

 

[MatCat85]

I will definitely have to keep in mind the extra money for the equipment and boards. I was worried at first because I heard some people saying they might spend upwards of $2000 for books, but then again it was a different school. Thanks, you guys reassured me ^_^

 

[krabmas]

I will definitely have to keep in mind the extra money for the equipment and boards. I was worried at first because I heard some people saying they might spend upwards of $2000 for books, but then again it was a different school. Thanks, you guys reassured me ^_^

If this is for NYCPM do not worry about boards. The school charges you for it in admissions so you don't even know you are paying for it. Unless you fail then you have to pay another $900 to take it again.

 

[Imgtnold]

If I get accepted into OCPM (admission interview 4/27), would I be able to get around 1600 a month for living expenses??? Tuition is about 25,000...

 

[Kamran654]

Matcat,

If you have any questions you can email me and I will be more than happy to help you out with process.. I know first year @ NYCPM will be tough and I will be more than happy to help you out if you have any questions,

email me @

[email protected]

class of 2010