Penn @ $60k/yr vs. Pitt @ $30k/yr

[UndecidedPrMed]

Hi. So I was very fortunate to be accepted to both Pitt and Penn Med. Penn was my top choice, and it is obviously an amazing school. But Pitt offered me a very significant scholarship. Penn is my dream school, but tuition + living exp will be in the range of $60k/yr. Pitt, also totally awesome but not quite in the same league, will be more like tuition plus living exp of $30k/yr. I'm trying to decide - what should I do?

Some background - would prefer Philly to Pitt for family reasons. Most of my family is closeby. BUT, difference in debt at 4 yrs will be significant. $120k!! Right now my #1 residency choice would be to go into Emergency Medicine (not Plastics or Derm), so debt will be a burden, and either school will provide a good foundation for matching into a good residency. I loved Pitt when I visited (hospital and student body were fantastic!), but I've been dreaming about going to Penn for years, and it is the perfect school for me if money were no option.

Any thoughts?? I'm also a big Phillies fan (nothing but disappointment so far)

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[Tartheheel]

Hey 240-300 K per year?? I bet you'll pay it off at least SOME day....I just suppose if you'd like to pay that debt off sooner, you'd have to be VERY VERY frugal the first few years out of residency I guess..., and from what I've heard a 100-150 K debt isn't uncommon

I'd definitely choose my dream school if I were you. Congrats on both those acceptances !

 

[BigRedPremed]

Go with Pitt. Same state. Both are top schools. 120K is A LOT of money.

 

[UndecidedPrMed]

Hey 240-300 K per year?? I bet you'll pay it off at least SOME day....

Ok, but the reality is that how much debt I (or you) have when you graduate from med school is a BIG deal. All things being equal I would choose Penn. But nobody wants to be paying off med school debt in their 40s, with kids getting older, saving for retirment, etc. So where is the line between expensive dream school and less expensive pretty-good school?

 

[mediocriskid]

Go with Pitt. You essentially get the same education at both schools, which aren't too shabby. In the end, rankings don't matter much. It's like a doc i work with says, her graduating from Harvard Med isn't something brought up very often (another friend who graduated from Northwestern reiterated the same point). Remember you're paying interest on that extra $120k, and I'm assuming you'll want a house, family, etc.

 

[Dookter]

I would go to Pitt. I am only one year into medical school, and I am sick of being broke all the time. I wouldn't want to extend that much further into the future. But that's just me.

 

[Doctor~Detroit]

peruse the em forum. pitt's em department has an *awesome* reputation.

 

[Towelie]

I would definitely go to Pitt. Their emergency department is absolutely incredible. And if you want to do plastics or derm, you could do that just as easily from Pitt as you could from Penn.

However, you might want to first try begging Penn for money. You never know, they might give you some

 

[bretticus]

Pitt -- awesome school for an awesome price.

 

[etf]

i just posted in a different thread that the pitt name was not worth $110k. but for some reason, the penn name is worth $120k (to me). go figure.

 

[Bubblehead-to-MD]

Pitt, without question!

 

[Doctor~Detroit]

i just posted in a different thread that the pitt name was not worth $110k. but for some reason, the penn name is worth $120k (to me). go figure.

and i think oranges are over-rated, but if a box of cheerios were in from of me i would probably eat four bowls of it.

in other words, huh?

 

[EndSong]

Pitt. 120 k w/ compound interest isn't worth the difference between those two schools. Also, Philly is saturated with med schools. You can really monopolize the clinical opportunities at Pitt.

 

[UndecidedPrMed]

Thanks for all the responses. Mostly seems to back up my gut feeling that in the long-run, I'll appreciate the saved $$$ over the slightly less prestigious name. Going to Pitt's second look weekend next weekend to help make up my mind. Don't think I'll ever become a pirates fan though...

 

[deleted128318]

Right now my #1 residency choice would be to go into Emergency Medicine (not Plastics or Derm), so debt will be a burden, and either school will provide a good foundation for matching into a good residency.

I'm not sure that I follow your reasoning here...

EM is a pretty short residency considering the compensation for EPs, and it is not unheard of for EPs to make 200k.

 

[Carmenita79]

I'm not sure that I follow your reasoning here...

EM is a pretty short residency considering the compensation for EPs, and it is not unheard of for EPs to make 200k.

Easily.... many make in the mid-200s. However, I would still choose Pitt if I were you.

 

[Iniqitous]

This is a non-brainer- if you already know you are going into EM, Pitt would be your first choice even if NO delta in cost - just like if I were going into IM or Peds (alhtough Pitt really good in Ped also), Penn would be obvious choice

 

[bretticus]

This is a non-brainer- if you already know you are going into EM, Pitt would be your first choice even if NO delta in cost - just like if I were going into IM or Peds (alhtough Pitt really good in Ped also), Penn would be obvious choice

Heh, it may be the obvious choice in prestige, but if I were going into peds or IM, two of the lowest paying specialities, I'd especially choose Pitt due to cost.

 

[Orthodoc40]

But nobody wants to be paying off med school debt in their 40s, with kids getting older, saving for retirment, etc.

Here's news for you: MANY docs are paying off their med school debt well into their 40's.
Has nothing to do with their specialty.

 

[Towelie]

Heh, it may be the obvious choice in prestige, but if I were going into peds or IM, two of the lowest paying specialities, I'd especially choose Pitt due to cost.

Many of the most lucrative specialties (e.g. med onc, cardiology) are IM/Peds specialties.

 

[bretticus]

Many of the most lucrative specialties (e.g. med onc, cardiology) are IM/Peds specialties.

Yes, but I was referring only to general IM. Obviously, if you're going to subspecialize, this wouldn't hold.

 

[mediocriskid]

I'm not sure that I follow your reasoning here...

EM is a pretty short residency considering the compensation for EPs, and it is not unheard of for EPs to make 200k.

There are also cases where the EM docs are not paid. There was a case here in sf bay area where EM docs weren't paid for 6 months. If you're serving an underserved community (meaning people are uninsured), things can get tight and debt is a consideration. You're basically the health safety net for all of these people and the reimbursements from medicare are often times below actual costs.

 

[glamqueen]

I'm jealous! But in all seriousness...I'd pick Pitt...

 

[deleted128318]

There are also cases where the EM docs are not paid. There was a case here in sf bay area where EM docs weren't paid for 6 months. If you're serving an underserved community (meaning people are uninsured), things can get tight and debt is a consideration. You're basically the health safety net for all of these people and the reimbursements from medicare are often times below actual costs.

Sounds like a case, not cases, and it's a product of the hospital in which they were operating, not the specialty. Safety net hospitals often provide free care in an array of specialties, not just emergency services.

I'm not sure I follow your reasoning either. Don't go EM because it's pro-bono? If you go into EM you won't get paid because you're providing care for the uninsured? Is that what you are arguing? Or are you arguing that only EPs are paid through Medicare? That must be it.

 

[powerbooki]

I got into pretty good schools, just not my dream school(s). I wish you could feel how I feel now, go for your dream school!

Although $120K with interest is a large chunk, it is NOT detrimental to you. You don't have to worry about how often your med school come up after you become a doctor. The only thing matters is you know you went to your dream school and you will be proud of it for long time, it's not for bragging to others. You are so close to your dream, don't skimp on the last step and let go your dream. If you keep skimping on last steps, you will have a lot less good memories and a lot more regrets. I don't want you to tell your kids/grand kids(and yourself) one day that you didn't go for your dream school only because you wanted to retire a little early.

However, I must make this disclaimer (which really has nothing to do with the above): I am on Pitt's wait list.