Please tell me that I'm insane

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Hendlefe

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I just graduated pharmacy school and I'm completing a year of pharmacy residency. For some reason, when I woke up this morning, I decided that I wanted to go to medical school. I'm 28 years old and I owe $160k in student loan debt. Please tell me I'm crazy to be considering going back to school.
 
You're not insane.

"A dream doesn't become reality through magic; it takes sweat, determination and hard work." -Colin Powell

Anything is possible. Work hard.:luck:
 
interest accrues
you'll probably be struggling to pay back interest on 500k at 7% or even higher. interest rates are tied to 10 year treasury bonds and by the time you graduate from medical school, they'll probably be very high. tuition is also going up astronomically. you'll also be 40 when you finish (or even older, seeing as how fellowships are becoming more and more common)
there are more and more people telling you how to practice and salaries will probably decrease
 
I just graduated pharmacy school and I'm completing a year of pharmacy residency. For some reason, when I woke up this morning, I decided that I wanted to go to medical school. I'm 28 years old and I owe $160k in student loan debt. Please tell me I'm crazy to be considering going back to school.

You're not insane. I did the same thing (minus doing a PGY1) and am now in med school. Study for the MCAT (not sure how possible that is during residency) and apply early (and broadly) for next years admission cycle. If you have any more specific questions, feel free to PM me.
 
Age doesn't matter, but that debt! Would you need to do a post bac or would you be applying for med school right away?

What brought on this realization? I know your personal statement isn't going to say "I want to be a doctor for some reason."
 
Age doesn't matter, but that debt! Would you need to do a post bac or would you be applying for med school right away?

What brought on this realization? I know your personal statement isn't going to say "I want to be a doctor for some reason."

Interested in these questions as well.

Also, have you considered working in pharmacy for a few years to pay down your debt/be able to pay for medical school in part? That's a lot of debt to have going into medical school.
 
About the debt - it's really not the end of the world. I have 80k in undergraduate debt and, working for 33k as I am now, there is no way I will pay it off with any speed (my minimum payments are $500 and Boston rent is $750). I'm heading to medical school because I know I can make it work in the end. What I want is to be a physician and so have made a decision to apply and get to that goal asap.

I may always be in debt for something - car, house, kids' college - that doesn't mean that I put my life on hold. I have a phenomenal credit score because I have been making responsible payments on my loan and managed the load well. I have learned to budget such that I can afford to go out and get theater tickets while still paying my interest and chipping away at the loan.

Make the decision with care and be sure, but if you know you want to go to medical school, don't waste any time in getting what you want...
 
I just graduated pharmacy school and I'm completing a year of pharmacy residency. For some reason, when I woke up this morning, I decided that I wanted to go to medical school. I'm 28 years old and I owe $160k in student loan debt. Please tell me I'm crazy to be considering going back to school.

I wonder if you should tell Adcoms about your debt in the interview or mention it in your personal statement? A sympathetic person might try to guide you to a scholarship through connections. Anyone have insight about this?

$500k in debt is very significant.

IN YOUR SITUATION: It might make sense to overstudy for the MCAT until you are getting 35-40 or scholarship range, and not settle for anything less. Or to come up with some other way [including drastic measures] to nearly ensure a high paid specialty (maybe take a year off prior to medical school to study for the USMLE to ensure a whooping score). Any ideas, anyone?
 
About the debt - it's really not the end of the world. I have 80k in undergraduate debt and, working for 33k as I am now, there is no way I will pay it off with any speed (my minimum payments are $500 and Boston rent is $750). I'm heading to medical school because I know I can make it work in the end. What I want is to be a physician and so have made a decision to apply and get to that goal asap.

I may always be in debt for something - car, house, kids' college - that doesn't mean that I put my life on hold. I have a phenomenal credit score because I have been making responsible payments on my loan and managed the load well. I have learned to budget such that I can afford to go out and get theater tickets while still paying my interest and chipping away at the loan.

Make the decision with care and be sure, but if you know you want to go to medical school, don't waste any time in getting what you want...

Since when???

I was told by several realtors that studio apartments in Boston currently start around $1500 and that they would only work with me if I would pay in that range. I currently pay $1000 monthly for a tiny studio I found a few years ago, when the market was down.

$750 is what I use to pay when I lived with 3 roommates. And yes, I looked in all the cheap places like craigslist, apartment finder, etc.
 
As for the debt, if you're willing to commit to primary care, psych or ob-gyn, you could look into the NHSC Scholarship. It's a big commitment, but they pay your tuition, fees, and living expenses. You have to work for 4 years (or the number of years you accept the scholarship) in a medically underserved area, but that doesn't necessarily mean a rural area. I was surprised to see how many clinics in Tampa qualify.
 
I just graduated pharmacy school and I'm completing a year of pharmacy residency. For some reason, when I woke up this morning, I decided that I wanted to go to medical school. I'm 28 years old and I owe $160k in student loan debt. Please tell me I'm crazy to be considering going back to school.

$160k is even a lot of money for a non-medical school graduate. It reminds me of this story: http://www.bogleheads.org/forum/viewtopic.php?f=2&t=116414
 
There's also the Uniformed Services University of Health Sciences. FREE EDUCATION. The catch is that after your residency, you give your next 13 years (7 active duty, 6 inactive) to the military.
 
I find it interesting that no one harks on the point about this decision is being made after merely waking up and feeling like it. You don't just wake up and want to go to medical school, you should probably take some time and let it sink in before you make any rash decisions.
 
I find it interesting that no one harks on the point about this decision is being made after merely waking up and feeling like it. You don't just wake up and want to go to medical school, you should probably take some time and let it sink in before you make any rash decisions.

This is definitely true. Let it marinate, OP.
 
I find it interesting that no one harks on the point about this decision is being made after merely waking up and feeling like it. You don't just wake up and want to go to medical school, you should probably take some time and let it sink in before you make any rash decisions.

I asked about that, but OP hasn't been back to talk with us and explain. Probably busy being a pharmacy resident.
 
I just graduated pharmacy school and I'm completing a year of pharmacy residency. For some reason, when I woke up this morning, I decided that I wanted to go to medical school. I'm 28 years old and I owe $160k in student loan debt. Please tell me I'm crazy to be considering going back to school.

I'd say you're maybe insane.

I'm sure you chose pharmacy for a reason. It's intellectually stimulating, you can work in both outpatient and/or inpatient settings, you're a valuable member of a medical team, you have a lot of interaction with nurses and physicians. Some specialized areas let you work on really sick patients and you get to help make management decisions with an interdisciplinary team. You can segway your career into policy, consulting, med business, pharm industry just like any physician.

It is definitely a different field from medicine. You don't have the diagnostic skills that a physician has. You don't have as much one-on-one patient interaction at the same intensity as the physician-patient relationship.

But, I wouldn't necessarily get caught up in the "grass is always greener" thinking.

You're 28. You'll be 29 or 30 by the time you start medical school if you start thinking about applying now.

Say, 34 by the time your finish medical school.

Say 37-40 by the time you finish residency and/or fellowship.

I'm an MS4 (and 27). I think medicine is a great career. The downside is that the training is very long (and, for the most part, justifiably so). The path is also not easy. Medical school isn't terrible...at most schools your schedule during the first 2 years is mostly more flexible than working a normal job in the real world. MS3 craziness is a whole other story though. However, muçh of residency is working 80 hr weeks at minimal pay for your effort, not seeing your family, constantly being overwhelmed, and working odd hours, night shifts, doing a lot of the "b*tch work none of the attendings on your service want to do anymore. You'll also incur a vast amount of debt in this period. In your case that's 7-10 years of missed pharmacist salary in addition to medical school debt that will not be substantially offset by the small salary you earn as a resident (especially in comparison to a practicing pharmacist)

Whenever I talk to someone (particularly older applicants) about applying to medical school, I try and emphasize the length of this path. You REALLY have to love medicine and think it is your calling to go down it later in life. If you really wanna see patients in a more diagnostic sense than a pharmacist, there are other, much less time intensive tracks (i.e. physician assistant), that in today's healthcare system let you do much of what a physician does, at good pay, with much, much less training.

In other words, I'd definitely recommend...sitting down, thinking about what sort of commitment this is (financial, family, physical, emotional, and TIME) and thinking about how badly you want this and why being a pharmacist or other sort of healthcare worker isn't going to give you what you want out of your career.
 
But the OP can work as a pharmacist where the take home is $300 after taxes for an 8 hour shift on the occasional weekend per month during the first 2 years of school.
 
Since when???

$750 is what I use to pay when I lived with 3 roommates. And yes, I looked in all the cheap places like craigslist, apartment finder, etc.

Yep, I live with 3 roommates and that's what I pay 🙂

I just wanted to make the point that it's hard to significantly make progress on a very large loan when over half your (decent) salary is taken up by expenses you can't control well.
 
your age isn't an issue at all as there are many people in their 30s in med school (and a few in their 40s!). the $160k debt is a concern, I would talk to a financial adviser.
If you can get a scholarship to med school or if you attend a state med school that would make the debt more manageable.
 
You're stupid to consider this.

You picked a career in medicine that you might not love, but there's certainly plenty to like about a six figure salary as a pharmacist. Unlike many other career changers, you have the option of being deeply involved in healthcare and with patients with your current education/training.

If you find that you really don't like working as a pharmacist, live frugally, save at least 50% of your income, and retire in a decade or so while living off of your investments in index funds.
 
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