Predicted Debt in Osteopathic School book

[TheBoneDoctah]

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In the MSAR for DO schools there are a couple schools where tuition is say 50k a year but the average indebtness is 150k. I am not a mathematician, but...anyone have any way to explain this?

 

[TheUnderdogSupreme]

merit based scholarship?

 

[ALF85]

In the MSAR for DO schools there are a couple schools where tuition is say 50k a year but the average indebtness is 150k. I am not a mathematician, but...anyone have any way to explain this?

Not everyone is going to take loans out for the whole amount. I know people (or their parents) who have paid out of pocket for most if not all of medical school. Scholarships can also be available for some people. For those who qualify, grants may be available. Under each school in the AACOMAS information book it actually lists under financial aid (in the blue box with monetary info for school) if scholarships are available and the average scholarships and grants. Also, some people may be living at home or with a working spouse, so they may not have to take loans for living costs.

There are a lot of variables, and the 150 k is the average indebtedness of the most recent class. For the 2014/2015 information book it uses the class of 2013. Also, keep in mind that tuition has likely risen a couple of times prior to this class graduating, so they may have paid a little less than the current tuition.

 

[el_duderino]

I don't think there are any schools with a $50k tuition that have <$200k average indebtedness. But the reasons are going to be a combination of scholarships and family financing.

 

[TheBoneDoctah]

I don't think there are any schools with a $50k tuition that have <$200k average indebtedness. But the reasons are going to be a combination of scholarships and family financing.

I wish I had rich parents...

 

[Awesome Sauceome]

I wish I had rich parents...

I know seriously... I am likely going to have a kid or two by the end of 2nd year. You know I will have to take out as much money as physically possible.

 

[Lost Vagus]

Don't think of it as debt, think of it as an investment in yourself. That really is the "best" kind of debt you can have. Everyone else will be in the same boat.

 

[Awesome Sauceome]

Don't think of it as debt, think of it as an investment in yourself. That really is the "best" kind of debt you can have. Everyone else will be in the same boat.

I am just hoping beyond all hopes that there is a real light at the end of the tunnel... I was a little disillusioned after I graduated college and started working...
1) I realized that the amount of money I make from this job that requires a college degree can barely pay my student loans (even with minimizing payments and such). Not with all other bills and normal living. If I was living at home having my parents help, then sure its totally fine. But this idea of graduating college and going off and being your own man, buying a house and such is a total lie that was fabricated back when people could actually do that - back in the 80s and 90s - before college tuition inflation occurred.
2) I realized that my expensive college degree could have been done for half the cost if I did the first couple years at a community college. Unless you are going into large firm investment banking or are trying to get into Harvard med/law - where you got your degree from doesnt matter. The only thing that matters is that you have work/life experience and are willing to work hard.
3) My siblings with no college degrees are going through technical programs and are making roughly 50% more than I am at their jobs, even though I have years of experience and a 4 year degree. Obviously they will cap in their pay and I will continue to make more, but at this current time it still stings a lot.

Do I expect being a physician to be different? Absolutely. The jobs out there pay more, and at this time there are a lot more (rough estimate is a shortage of 16,000 doctors by 2020 right?). Even my least favorite field that I would want to go into (psych) would pay 4-5x what I have made at my best paying job.

But at the same time, I am not as rosy eyed as I was a couple years ago. Its a lot of money that you would owe and its a very real burden on families. Even this year, I have had to make decisions for my wife and I.... Are we going to go home for Christmas or get that surgery that you need? Do I go to the doctors and get an x-ray of my possibly broken finger, or get new tires for the car. I believe it is definitely a solid investment, otherwise I wouldnt be going down this route; but debt is debt no matter who you owe it to.

You better believe I will be going to the cheapest possible school that I can (excluding LECOM, I dont like how they do business).

 

[TheBoneDoctah]

I am just hoping beyond all hopes that there is a real light at the end of the tunnel... I was a little disillusioned after I graduated college and started working...
1) I realized that the amount of money I make from this job that requires a college degree can barely pay my student loans (even with minimizing payments and such). Not with all other bills and normal living. If I was living at home having my parents help, then sure its totally fine. But this idea of graduating college and going off and being your own man, buying a house and such is a total lie that was fabricated back when people could actually do that - back in the 80s and 90s - before college tuition inflation occurred.
2) I realized that my expensive college degree could have been done for half the cost if I did the first couple years at a community college. Unless you are going into large firm investment banking or are trying to get into Harvard med/law - where you got your degree from doesnt matter. The only thing that matters is that you have work/life experience and are willing to work hard.
3) My siblings with no college degrees are going through technical programs and are making roughly 50% more than I am at their jobs, even though I have years of experience and a 4 year degree. Obviously they will cap in their pay and I will continue to make more, but at this current time it still stings a lot.

Do I expect being a physician to be different? Absolutely. The jobs out there pay more, and at this time there are a lot more (rough estimate is a shortage of 16,000 doctors by 2020 right?). Even my least favorite field that I would want to go into (psych) would pay 4-5x what I have made at my best paying job.

But at the same time, I am not as rosy eyed as I was a couple years ago. Its a lot of money that you would owe and its a very real burden on families. Even this year, I have had to make decisions for my wife and I.... Are we going to go home for Christmas or get that surgery that you need? Do I go to the doctors and get an x-ray of my possibly broken finger, or get new tires for the car. I believe it is definitely a solid investment, otherwise I wouldnt be going down this route; but debt is debt no matter who you owe it to.

You better believe I will be going to the cheapest possible school that I can (excluding LECOM, I dont like how they do business).

What's wrong with LECOMs business?

 

[AlbinoHawk DO]

I wish I had rich parents...

Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents.

 

[DoctorSynthesis]

What's wrong with LECOMs business?

Wehatelecom.com

And dress code. People complain about dress code and pbl

 

[DoctorSynthesis]

Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents.

Republicans don't get it...

 

[Awesome Sauceome]

What's wrong with LECOMs business?

I will not go into it in effort to not start some big thing on here (it is like the second most contested thing on SDN behind MD vs DO). A google search can open up a doorway where you definitely see the striking pros and cons of this program. But given that I have the option of roughly 30 other schools, I would rather just take my chances elsewhere.

 

[Awesome Sauceome]

Wehatelecom.com

And dress code. People complain about dress code and pbl

I mean for me its not the dress code ( I prefer it), and PBL is definitely just up to the person. It is more because of complaints on admin and such as well as general lack of respect for the students as ADULTS (ie we are not kids) working on a professional degree.

 

[chessguy]

I think debt is bad, but if there is any profession that should make you feel slightly less uncomfortable taking it on it is medicine. Leaving all the good you can do as a physician to one side, it also make sense from a financial stand point. I think the average salary for a D.O. is about 180,000 dollars a year. That should be enough to pay off debts in the long hall. With that said, I don't think I would be comfortable taking on debt much higher than 160,000 dollars for medical school. That is just me personally and I have read of many people taking out 250 grand.

 

[chizledfrmstone]

I think debt is bad, but if there is any profession that should make you feel slightly less uncomfortable taking it on it is medicine. Leaving all the good you can do as a physician to one side, it also make sense from a financial stand point. I think the average salary for a D.O. is about 180,000 dollars a year. That should be enough to pay off debts in the long hall. With that said, I don't think I would be comfortable taking on debt much higher than 160,000 dollars for medical school. That is just me personally and I have read of many people taking out 250 grand.

What school gives you a degree w/ $160,000?

LECOM is one of the cheapest schools and it costs $50k/year ($30k tuition and $20k living expenses). That's around $200k total BEFORE counting interest.

 

[DoctorSynthesis]

What school gives you a degree w/ $160,000?

LECOM is one of the cheapest schools and it costs $50k/year ($30k tuition and $20k living expenses). That's around $200k total BEFORE counting interest.

Well tuition is closer to 35 and 20 k living is a bit much. But you got to include books fees microscope also. So overall about right. And just because it costs 200 grand for school doesn't mean you will be in debt 200 grand. I have about 100 k saved up so I won't be 200k in debt.

 

[JeBrAs]

TCOM would be nice in terms of having less debt.

 

[BenzylAcetate]

I am just hoping beyond all hopes that there is a real light at the end of the tunnel... I was a little disillusioned after I graduated college and started working...
1) I realized that the amount of money I make from this job that requires a college degree can barely pay my student loans (even with minimizing payments and such). Not with all other bills and normal living. If I was living at home having my parents help, then sure its totally fine. But this idea of graduating college and going off and being your own man, buying a house and such is a total lie that was fabricated back when people could actually do that - back in the 80s and 90s - before college tuition inflation occurred.
2) I realized that my expensive college degree could have been done for half the cost if I did the first couple years at a community college. Unless you are going into large firm investment banking or are trying to get into Harvard med/law - where you got your degree from doesnt matter. The only thing that matters is that you have work/life experience and are willing to work hard.
3) My siblings with no college degrees are going through technical programs and are making roughly 50% more than I am at their jobs, even though I have years of experience and a 4 year degree. Obviously they will cap in their pay and I will continue to make more, but at this current time it still stings a lot.

Do I expect being a physician to be different? Absolutely. The jobs out there pay more, and at this time there are a lot more (rough estimate is a shortage of 16,000 doctors by 2020 right?). Even my least favorite field that I would want to go into (psych) would pay 4-5x what I have made at my best paying job.

But at the same time, I am not as rosy eyed as I was a couple years ago. Its a lot of money that you would owe and its a very real burden on families. Even this year, I have had to make decisions for my wife and I.... Are we going to go home for Christmas or get that surgery that you need? Do I go to the doctors and get an x-ray of my possibly broken finger, or get new tires for the car. I believe it is definitely a solid investment, otherwise I wouldnt be going down this route; but debt is debt no matter who you owe it to.

You better believe I will be going to the cheapest possible school that I can (excluding LECOM, I dont like how they do business).

If you're very concerned about costs, as you should be, don't be so quick to write off the LECOMs. Granted I haven't started yet, but the Florida campus administration seems reasonable. Plus with PBL you're only on campus a few hours per week.

 

[Awesome Sauceome]

If you're very concerned about costs, as you should be, don't be so quick to write off the LECOMs. Granted I haven't started yet, but the Florida campus administration seems reasonable. Plus with PBL you're only on campus a few hours per week.

PBL is not for me. I could do it, but I do not think that I should do it. And I am concerned about their rotations down south. They are going into rotation areas that already have agreements with other schools. Seems sketch.

 

[chessguy]

If you're very concerned about costs, as you should be, don't be so quick to write off the LECOMs. Granted I haven't started yet, but the Florida campus administration seems reasonable. Plus with PBL you're only on campus a few hours per week.

Sorry for my ignorance. What is Problem based learning exactly. I looked on their website and I can't see how that could take the place of "70% of the total pre-clinical curriculum." That might be because I don't fully understand exactly what is taught in medical school. At first glance though, I agree with Awesome Sauceome "PBL is not for me."

 

[Awesome Sauceome]

Essentially you teach yourself and then meet up for group discussions on cases and problems etc. You learn by solving clinical problems with book knowledge. Some people really enjoy it because a ton of your time is not in a class room and you learn at your own pace, depending on how much you can read and what you are interested in looking up.

I did the whole home school thing through high school and I know without a shadow of a doubt that PBL is not for me. But even if all the LECOMs were not PBL, I still would not be interested in going there. Some schools for whatever reason just rub you the wrong way. There are plenty of other schools I would never go to, it just so happens that LECOM comes up a lot because of the ridiculously cheap cost which is comparable to most state MD schools.

 

[chessguy]

I feel you. I went to a school that I left because I was just uncomfortable.

What school gives you a degree w/ $160,000?

LECOM is one of the cheapest schools and it costs $50k/year ($30k tuition and $20k living expenses). That's around $200k total BEFORE counting interest.

I plan on doing hpsp. Sorry for the delayed response I must have missed your reply.

 

[AnnRNOR]

What's wrong with LECOMs business?

One should go to LECOM only if that's the only school of admission. My niece gave them up after she got into Rowan SOM, she even lost her deposit to LECOM. It is worth it to spend few thousands more for better school. Read wehatelecom. My son was admitted in Sarasota campus, he is not going there either.The school is basically a building with classrooms, no medical facilities. How do you became a physician by studying from the book? I work in a trauma surgery and I encountered LECOM residents, they are way behind PCOM or Rowan graduates because they didn't have the same exposure to medical facilities, though they are equally smart. It is a sort of a money making machine for the family that runs LECOM , they don't provide students with good learning resources.