Out Of Money?

[shannonigans]

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Hi SDN,

Has any other non-trad run into the problem of running out of money while doing their post-bacc classes? I planned for a lot of things when I decided to go back to school to pursue my dream of becoming a physician, but I didn't think running out of money would be one.

I was planning on taking summer classes, but I'm currently staring at a bill with no way of being able to pay it. I can apply for scholarships for the fall, but my only funding option right now is to find a cosigner and take out a private loan from Sallie Mae (and I would prefer NOT to take out $30K from them over the next year or so). Right now, it looks like I'll need to take a break from school for Summer (possibly Fall) and work full-time before diving back into classes.

Has anyone run into this problem? If so, would you mind sharing how you dealt with the situation? Also, will this look bad to adcoms? Or will it be okay as long as I supplement my work with volunteering/shadowing/clinical experience?

Also, if anyone has recommendations on decent paying healthcare related jobs (I need $15+/hour), I'm all ears.

 

[petyr_baelish]

New job + 0% APR for 15 months credit card. Pay at least the minimum payment every month to keep the 0% rate.

Take one class at a time. Go to cheaper schools.

Scribing won't help you as it's 8-10 bucks an hour, but research gigs tend to pay a more liveable wage. You ideally need to be around big academic hospitals to get entry level research work.

 

[DrMidlife]

don't rack up credit card debt unless you have a plan to pay it off before med school. there's no money for payments in med school.

there's a huge pile of expenses coming for the app process. $5k to $10k on applying and traveling is typical, and then you probably have to move and come up with first/last/deposit for an apartment.

doesn't matter if a job is healthcare related. get a job that gets you financially stable.

look at jobs at a college where you can take classes, and don't be afraid of waiting a year or more to apply if this year doesn't make sense.

you'll be surrounded by kids whose parents take care of all this. don't let cynicism and resentment take you down yet - you're still a decade from practice.

best of luck to you.

 

[NonTradJp]

If you can get a non healthcare job that pays more you should do it. You won't be looked down upon if there is any worry for that. Life is life. If you can handle it, it will look good for you and easy to explain.

 

[dorothyntoto]

I worked fulltime and used loans only for classes and related expenses. Not sure what your loans were coming out of school, but if you're already up to the federal max for undergrads that will be a problem for you to take out loans even if you take time off... Student loans, federal or private, are a better option than any credit card debt as they go into deferment when you're in medical school. Credit cards are dangerous in med school. You barely have enough to live on, and adding an additional $100/mo in payments could be very problematic.