People actually do this, right?

[Severus]

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^this is utterly silly and ridiculous. pamela anderson will be, like, sixty when i start to practice. no thank you. does this scenario work with other attractive women?

Pamela Anderson.

 

[Topspin82]

I'm dreading going into debt...

- have about 40K in UG loans
- another 25K in graduate loans
- helped my parents financially and co-signed on a 250K mortgage to renovate our house
- if i do get accepted this round (which I hope) it'll most likely be a private school (not the state school...boo) which will include another 200K+ debt

Can I survive? I have no idea what I'm up against 🙁

 

[BeanerMD]

I'm dreading going into debt...

- have about 40K in UG loans
- another 25K in graduate loans
- helped my parents financially and co-signed on a 250K mortgage to renovate our house
- if i do get accepted this round (which I hope) it'll most likely be a private school (not the state school...boo) which will include another 200K+ debt

Can I survive? I have no idea what I'm up against 🙁

If I can do it, you can do it🙂 Gratefully, I had scholarships, some parental assistance, and paid the rest of my way while working FT in undergrad; my husband, however, did accumulate some UG loans. Topped off with $17k grad loans for me (took out as little as I could, worked again FT to pay the rest); my husband and I have a mortgage for $230k. AND, I'm going OOS public (might as well be private tuition).

Let's sing it like Donna Summers...I will survive!

 

[45408]

Interest will be accruing on my unsub staffords and Grad PLUS loans. The 156K figure for UNC includes this interest as well.

$290,000. Think about how much that is and how long it will take to pay off, and add the interest that will accumulate. You're probably talking half a million dollars. I'd go to UNC.

 

[stiffany]

I would love to meet these people that don't have any parents. That would be a biological breakthrough.

I think s/he meant parents that are either out of the picture for whatever reason and/or deceased. 🙄 Not all premeds have parents to fall back on for condo start-up money or even anything at all.

 

[p9142]

This financial aid stuff is really starting to sink in and it's hitting me hard. I really thought that the hard part was going to be getting into my top choice school, not affording it.

The average debt at Duke is 75K, but I'd be leaving with 290K. I just don't think I can justify that when UNC would 'only' leave me 156K in debt. I know I'm lucky to have great choices, but this still sucks. 🙁

I'm glad someone other than me is looking at the interest as well as the principle. It seems like most people on this board say, school X will leave me with $250k of debt after 4 years. It is actually more like, School X will leave me with $250k of principle and $40k of interest which will be capitalized to $290k when I am done.

 

[deleted128318]

Listen to that "get your parents to co-sign" . Do you know some people don't even have parents, or have poor parents with bad credit?

Thus the "if you can get your parents to co-sign"

I see how you conveniently left out the if so you would have something to b!tch about.

 

[lilnoelle]

I'm glad someone other than me is looking at the interest as well as the principle. It seems like most people on this board say, school X will leave me with $250k of debt after 4 years. It is actually more like, School X will leave me with $250k of principle and $40k of interest which will be capitalized to $290k when I am done.

And don't forget the fact that most people will not be able to pay on their loans during residency, interest will accumulate very fast during residency, leaving this individual with close to $400K in debt when they finish a four year residency (obviously worse if they did a 5 year residency plus two year fellowship).