Pharmacy School Debt

[DrPharm]

How much debt are you expecting to acrrue after you finish pharmacy school? How much is tuition at your college?

Are you worried about paying it back?

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[Tuck]

Somewhere around $5000-10000 in debt I think is about what I will have when I graduate I think, maybe a little less, but I think that is about it. No, I am not too worried about paying it back. I can generally pay most of my tuition for the following year by working in the summer, and I saved enough for tuition for my p1 year and have a little bit left over. It sort of depends on where I do my internship, and if I decide to work a few hours during the school year. Tuition at my school is about $12,000 a year at my school currently.

 

[dgroulx]

I have debt from undergrad for 18K. When I'm done with school, I will have about 100K in debt. My tuition is about 7K per year, but I need money to live on. I figured that I can pay it off in about 10 years.

 

[ultracet]

We are just over $10,000/ semester
so most are planning on getting out with around $120,000 in debt.
Thankfully my parents are in a position to pay for mine.

 

[aphistis]

I still can't make up my mind about what I think of having your parents pay for your graduate education.

Strike that. I *do* have my mind made up about it, and it's not terribly flattering. Spare me the sanctimonious replies, please.

 

[bananaface]

I still can't make up my mind about what I think of having your parents pay for your graduate education.

Strike that. I *do* have my mind made up about it, and it's not terribly flattering. Spare me the sanctimonious replies, please.

Once you are enrolled in a professional program, there is really no need to display jealousy over other people's financial status.

 

[ultracet]

I still can't make up my mind about what I think of having your parents pay for your graduate education.

Strike that. I *do* have my mind made up about it, and it's not terribly flattering. Spare me the sanctimonious replies, please.

haha and the best part is...
i don't really care about your opinion on the matter and in saying your feelings on a forum, you are just SCREAMING for replies! So good luck with people listening to that next time!

 

[pinkyrx]

Tuition here is around 12K/year. We plan on continuing to live on my husband's salary and then my salary will go directly toward my loans. They should be payed off in no time, especially if I work overtime during that first year.

 

[aphistis]

Once you are enrolled in a professional program, there is really no need to display jealousy over other people's financial status.

That's just it. It's not about jealousy that someone comes from a wealthier background than I, it's about eventually assuming some degree of ownership and responsibility over your own life. Hard to do that when mom and dad are the only ones lined up to take the hit if something unfortunate happens, while you're skating away scot-free.

 

[aphistis]

haha and the best part is...
i don't really care about your opinion on the matter and in saying your feelings on a forum, you are just SCREAMING for replies! So good luck with people listening to that next time!

I didn't say "I don't want anyone to reply." I said "spare me the sanctimony," which everyone other than you appears to have respected.

 

[GravyRPH]

Something about a pot and a kettle comes to mind here.

 

[ultracet]

That's just it. It's not about jealousy that someone comes from a wealthier background than I, it's about eventually assuming some degree of ownership and responsibility over your own life. Hard to do that when mom and dad are the only ones lined up to take the hit if something unfortunate happens, while you're skating away scot-free.

You are just too funny for words to me. I really didn't think I was being "sancitimonious". I actually thought I was being extremely kind to you! Ahh well i guess when one writes something "unflattering" about another they expect the same in return!
And to be perfectly honest you were talking to me and not everyone else!

Now about the above quotation...
I dont understand how you can assume that I don't have any responsibility over my own life. My parents aren't taking my classes for me, they aren't doing my homework for me, etc. Perhaps you have disconnected yourself so much from your family that it doesn't matter to you what happens to your mom and dad financially but it does matter to me. I don't want them to "take a hit" in fact, most in my class who take out loans look at it as a "what's an extra $15,000 when i'm already so far in debt?" I definitely do not hold that opinion as i would never do something that would cost them more.

Financial planning is definitely a plus for the future generations and I only hope that I can pay for my children's education (all of it)!

i am excited to have a different point of view on the forum as your signature says you are in Dentistry! Good luck!

 

[Roxicet]

I'll have ~$150,000 in debt. The tuition is $26k/year for three years. I need the rest to survive; I'm living on a very small budget. I have ~$9k debt from undergrad, bc it was paid for mostly by grants and scholarships.

One of my goals is to be able to pay for my children's education. I would be honored to be able to do that. After all, I'm going to school to give my children a better life than I had. I was the first in my entire family to even attend undergrad, so I'd like to keep the trend going from now on.

I'm not worried about paying back the loans. My income will still be more than I've ever made, even minus the loan payments. I'll probably stretch out the repayment time as much as I can instead of paying it off in 10 years. I'd like to enjoy life to the fullest...what if I die 5 years after I graduate?...I could've spent the extra money I was paying back on my loans to have a good time seeing the world and making memories with my family.

 

[ultracet]

Paying off loans over time isn't a bad idea at all as long as your interest rate is low!

I knew an old guy who ate dessert first because he said he never knew if he would make it through the rest of the meal. Its a great way to look at life.

 

[Tuck]

I think it is great that your parents are helping to pay for your schooling. It shows that they took the time to plan for helping to educate their kids. Quite frankly I think that this is a responsibility that is neglected entirely too much due to poor financial management. My mother managed to save $30,000 for our schooling as a single mother living well below the poverty line and I have appreciated it every day. It really taught me the meaning of dedication and responsibility in my own life. I have lots of friends who just did not make it because they had not been taught how to manage money or set realistic goals. Having family support is much more of a positive than a negative in my opinion. If nothing else, it shows how much they really believe in their childrens ability to succeed.

 

[dgroulx]

I'll probably stretch out the repayment time as much as I can instead of paying it off in 10 years. I'd like to enjoy life to the fullest...what if I die 5 years after I graduate?

Since I'll be 50 when I graduate, 10 years seems like my only option. Dying 5 years after I graduate could be reality. I guess I enjoyed my life in my 20's and 30's. I worked as a programmer, made decent money, got to travel, buy new cars, etc. Pharmacy will get me a good health insurance plan and allow me to save for retirement.

 

[bananaface]

My mom paid for my undergraduate degree out of her pocket. Back then, I wasn't planning on going to professional school afterwards. I'm now paying my own way through professional school. Obviously, accepting a gift from my mom didn't prevent me from taking responsibility for my finances. As long as somone understands that the cashflow is a gift, for a specific purpose, and that after school is out they will be financially independant, I don't see a problem.

Now that I am getting divorced, my mom keeps asking me if I need money for tuition, housing, etc. I keep telling her that tutition is covered by my student loans, that I have a job, and that I am just fine. So, I am having to assert my financial independance. In reality, my loans come about $30 short of covering tuition and fees each quarter. I don't really know that the money I have in the bank will last past the end of winter quarter or rent and other expenses. I'm counting on a change in status increasing my financial aid to get me through spring. If that doesn't fly, I can get loans through the pharmacy department, work an extra day a week, eat peanut butter sandwiches for lunch, etc. Once summer comes, the coffers will refill and everything will be fine. And, like Roxy said, we are all going to be just fine after graduation. I just wish my mom would accept that and quit offering things she really can't afford now that she is retired.

First year I took out 17K in loans. This year it's 10K, plus any extra after the readjustments. I figure 3rd and 4th year will look alot like first. So, I will have accumulated about 70-75K in loans by the time school is out. I will be one of those people who pays it off fast.

BTW, Dana, there is a guy in the 1st year class at UW who appears to be about 60. You are a spring chicken!

 

[baggywrinkle]

.

Now that I am getting divorced, my mom keeps asking me if I need money for tuition, housing, etc. I keep telling her that tutition is covered by my student loans, that I have a job, and that I am just fine. So, I am having to assert my financial independance.

Please tell your Mom that I am available for adoption....

 

[bananaface]

Please tell your Mom that I am available for adoption....

Don't make me call your wife!

ps- Gravy missed you.