public vs private

[rebaj]

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Probably not a new question, but looking for thoughts and input...

I am an older post-bac student, and my medical school (entering 2003, but haven't picked where yet) will be completely self-funded (no parental/spousal support). Therefore, I am looking at the whole thing being done primarily through loans, and whatever private scholarships I may be able to cobble together.
The debt incurred from a public school will most likely be significantly less than that from a private, as much as $100,000. As an older student, the debt I will be in is a serious consideration - being almost 40 with heavy debt and no assets is much worse than being 30 and in the same situation.

So, my question is - is the cost of a private school worth it, in terms of the quality of the education and the future residency placement and career opportuntiy benefits? My impression from tours and interviews (SUNY Downstate, GW, Cornell, Tufts) has been that facilities are basically comparable, though somewhat 'nicer' at private schools, that the students are about the same, and that I would be personally just as happy at Downstate. But am I being short-sighted?

 

[DW]

not being short sighted at all. if you think you'd be just as happy at downstate and money is a big concern to you, go with downstate 🙂

I dont know what your financial situation is but at least Cornell seemed to be pretty generous with need based grant monies, though (GW I got the exact opposite impression). just for your consideration 😎

 

[vm26]

I'm also older-29 and am pretty much on my own in terms of covering cost. If u check out the downstate website, I think they have stats in reference to debt accrued at a private vs public med school, if I recall correctly the average is something like 120K at privates vs 75K for publics, in my mind this isnt a huge difference when you consider the amount of time that you have to pay it off, so if u have your heart set on a private school I wouldnt let the extra debt prevent you from attending.

I also do not think that you will receive a subpar education at a place like downstate in comparison to a place like Cornell and I wouldnt worry about limiting your future career opportunities (this may not be the case for research/academia). Go where you think you'll be comfortable and happy and if owing an extra 40-50K will be a distraction than this is something that you need to factor in. Good luck.