Paying for my future??

[KUMC_MD]

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How much does the government give in substidized loans?? i thought it gave up to 37500 per year if you are in an MD or DO program, and for all other graduate programs, you get 18500?? How hard is it to get the 37500?? My tuition alone is 30000! will i be able to get enough to pay for it??

 

[bigmuny]

8500 in sub., 30000 in unsub. per year up to 189000 lifetime max. in government backed loans. If you need more than that you need to take out private loans, and they have different terms and conditions. The government loans are easy to get, the private loans depend on your credit. It is a lot of money, and boy how I wish I was in a state school.

 

[XCanadianRagwee]

Originally posted by KUMC_MD
How much does the government give in substidized loans?? i thought it gave up to 37500 per year if you are in an MD or DO program, and for all other graduate programs, you get 18500?? How hard is it to get the 37500?? My tuition alone is 30000! will i be able to get enough to pay for it??

Yes then there's also Perkins Loans given out by the school, plus forgivable loans, plus scholarships, plus grants, plus private loans.

You're a future medical school student. Banks are drooling over us right now.

By the way, tuition this year for me is nearly $27K, I received $33K in loan money (all gov't/school issued) and took out a little more for personal expenses. It can be done.

 

[Amy B]

Is it up to the school as to how much of the $38,000 you can borrow? My friend is in an MD school and hasn't been able to get the full amount and struggles every semester due to running out of money.
With tution for me at $30,000, I will need more for childcare, expense, etc....
I wonder if they base it on my husband's income for this year when I start next year. That would stink because his new job won't pay any where near as much as the job he has now due to location. Blacksburg is a small town with lower cost of living compared to the greater D.C. area where we live now and cost of living is $$$$$$$$$$$$$$$$$$$$$$$$$$$$$.