Paying for school...opinions please

[nutritionfirst]

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I'm doing a master's right now in biochem and molec nutrition (I know my username is corny). Med school is following and I'm trying to figure out how I can get it paid. Debt is nearly inevitable, I realize that. But here's my situation:

Army health professions program appeals due to tuition/books paid for AND I would get ~$2,000/ month for living expenses etc.. (which would keep my parents out of having to dig into their retirement fund to help me out). I would also enjoy serving the time back as a military doc, although I don't necessarily fancy the fact that deployment as a military doc is nearly a 100% certainty.

I could follow in the footsteps of many others and take out loans and pay them back as I begin practicing as a physician, but then that brings up the issue that on top of tuition and books I'll have to also find a way to pay for living. I'd like to think I'll have a job during med school, but I realistically think that won't be able to happen.

Any help from experience would be GREATLY appreciated!

 

[daveyjwin]

First, only do HPSP if you want to be in the military, not because you think it's a good financial decision, which it isn't. HPSP is for people who want to be in the military, not people who want a scholarship. You can find more information all over the Military Medicine forum.

Second, loans pay for cost of living as well, somewhere around 25K/yr, so no need for a job. I had to borrow some from my parents for the initial move and books and whatnot, but after everything was settled, it was enough as long as I was frugle.

 

[nutritionfirst]

thanks a bunch, that's the insight I needed.

 

[mx_599]

First, only do HPSP if you want to be in the military, not because you think it's a good financial decision, which it isn't. HPSP is for people who want to be in the military, not people who want a scholarship. You can find more information all over the Military Medicine forum.

Second, loans pay for cost of living as well, somewhere around 25K/yr, so no need for a job. I had to borrow some from my parents for the initial move and books and whatnot, but after everything was settled, it was enough as long as I was frugle.

+1 on military.

 

[avatarftw]

a

 

[DrBowtie]

Your calculations are kinda bogus. 100% of your salary is not paying down your debt.

 

[avatarftw]

a