On Money

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Miliwen

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Hola Fellow Non-trads! The more I think about school, the more worried about money I get. Mind you, I have another 3 years untill my app cycle, so I have time. But at the same time, I know it will fly by. Right now I have a decent paying job, nothing fantastic, above average for my age/skills. I rent an apartment (my mom's house) with my wife and child. The rent is very cheap. My wife has a part time job and stays home with our daughter 2 out of 5 days.

We just finished paying off her credit cards and we are now working on my debt. Its not much and should be payed by the 1st of the year. After this we will save a very large chunk of money. I live in CT and live about 10 minutes away from UCHC (UConn health center). This is my number one choice. Being I'm an ISS, its down the road from my house, and I know people that have graduated from it and they seem to have nothing but good things to say about it. But I know I should not put my hopes into one school. This is where I am getting worried. If I do have to move to another state for med school, my wife will have to find another job. We will have to find a apartment (or house, depending on the amount of money we have saved up) within our means. At the same time, I know during med school, working is not really an option. While I maybe able to pickup hours here or there (I am betting this is even stretching it), I won't be able to work 40 hours a week.

So my question, how are you planning to make this transition? Going from your current lifestyle to something different? Is money a huge concern for you? Should I be worrying about this now, or is this something to worry about down the road? I thought I read before people will actually live off of loans through these years. Any truth in this?

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My philosophy is usually to not worry about something until I actually have something to worry about.

If I get in this year, we are looking at me having to quit my 60K or so a year job and live on my wife's salary.

Yes, Student loans will be a big factor because if I end up around here, we will likely keep the house.
 
I begin a formal post-bacc program in January. I will be leaving a decent $55000.00 a year consulting job. Most likely I'll try to pick up some $7.00 lab tech/orderly/scum-of-the-hospital job as I go through my studies. My fiance and I will be living on her salary alone, which is $60,000/year.

Does it frighten me? You bet your behind it does. However, if you truly want something, it has to be worth sacrificing for.
 
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