Paying for school w/ a family

[sailence]

I've been looking around and have seen some pretty helpful things.

However I think there needs to be a thread with 'concrete' information on how people with families will pay for med school. The way daycare cost I think it would be better if the other spouse would just stay home. But how can we pay for an apartment (which is a horrible thing to do since you will never own it) maybe even a house? How can you pay for food? you got to have DSL/cable for research. I just want to know if I am going to be able to live with a family while going to medical school without acruing lots of debt compared to other studen averages?

From what I read I would have to go with a private loan which is not the smartest idea but you have to do what you have to do. Unless of course the school allows you more living expenses which is rare, right? Post any informatino you can bring to the table that has to deal with families and any financial aid they can recieve. Even outside help from the govt. like I'm pretty sure we could get food stamps? I hate to bum off people but if I plan on being a doctor I think I'll more than pay back what I used. Any thoughs, ideas or knowledge is welcome here. Thanks very much for reading!

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[SpamJam]

I am a med. student with two boys. My husband stays home to take care of them (older one is in grade school during the day). In terms of the daycare, sometimes they will increase your loan or scholarship amount if needed, but we do not need the daycare. I am hoping for an NHSC scholarship, but as of right now we have taken out the maximum amout of loans from the government and have received a few small scholarships. I did not take out any additional personal loans. We sold our house and are now renting, which has been OK. As a medical student, you do qualify for food stamps, WIC, medicaid for the family, etc. if there is no other income. Some programs we use and others we do not. There are many med. students that use them and I think you are right they we will end up paying back much more in the long run. You have to be careful financially, but it works and you can do it. Let me know if you have any other questions.

 

[tapir]

Renting an apartment is not a "horrible thing to do," I promise.

 

[sailence]

Is it really competetive to get a scholarship? Are there any scholarships that avaible just more people in my situation? I've tried researching some but it pulled up MASSIVE amounds of them ! I'm gonna look up the one you mentioned. thank you for the reply.

I guess I always thought renting an apartment was bad because you were paying almost as much as a house payment but will never own it.

 

[okbye]

Renting saves you from the added expense of owning, you don't have to worry about anything breaking or taxes or any of that neat stuff. Owning a house costs more than your mortgage and utilities.

http://www.fastweb.com/ Try this site to search for scholarships. You put in a few personal details and it finds things that fit your situation.

 

[yadayadadude]

I guess I always thought renting an apartment was bad because you were paying almost as much as a house payment but will never own it.

Depends on where you live. In our area (SF Bay Area), the mortgage payment on the place we rent would easily be 3-4 times our rent payment, not to mention taxes, insurance, and maintenance. We'll be technically able to buy something in the next couple of years, but I think it will likely make more sense to continue renting.