SDN members see fewer ads and full resolution images. Join our non-profit community!

Student debt Poll

Discussion in 'Medical Students - MD' started by ckent, Feb 23, 2002.

  1. ckent

    ckent Banned Banned

    2,138
    1
    Jul 31, 2000
    Smallville/Metropolis
    How much debt will you have after you graduate?
     
  2. SDN Members don't see this ad. About the ads.
  3. dang I feel sorry for the pple who go to private schools!!! geeezz louis those were huge debts...just think, u still have medical school left as well?!
     
  4. ckent

    ckent Banned Banned

    2,138
    1
    Jul 31, 2000
    Smallville/Metropolis
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by WatchaMaCallit:
    <strong>dang I feel sorry for the pple who go to private schools!!! geeezz louis those were huge debts...just think, u still have medical school left as well?!</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">This poll is supposed to be for estimated total debt after graduating from med school.
     
  5. Tufts graduates are estimated to be $200,000+ at debt post-graduation. bet you are thanking whatever deity you believe in that you got into Maryland, huh?
     
  6. ckent

    ckent Banned Banned

    2,138
    1
    Jul 31, 2000
    Smallville/Metropolis
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by Katie:
    <strong>Tufts graduates are estimated to be $200,000+ at debt post-graduation. bet you are thanking whatever deity you believe in that you got into Maryland, huh?</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">200,000 in debt is crazy, I thought that the people posting such high numbers were DO students or something. Maryland is not cheap for a public school (14,000), but it is a bargain for all that you get.
     
  7. Maran

    Maran Member 7+ Year Member

    73
    0
    Jan 24, 2002
    Florida
    According to the AAMC 2001 Graduate Questionnaire,
    the average med school student (from allopathic programs) graduates $99,089.00 in debt.

    The AACOM estimates the average cumulative educational debt for osteopathic medical students graduating in 2000 at $121,000.

    Pretty steep! Medical Economics (you can visit their online site) has run articles giving various strategies for lowering and/or paying off that debt. I recommend checking out their site.

    And I can't resist putting in another plug for my company's Medical Student Representative program which allows med students to earn $10,000 to $20,000 per year during their clinical years, while going about their normal rotational activities (no extra hours!)
     
  8. mophead

    mophead Member 10+ Year Member

    48
    0
    May 7, 2000
    USA
    Had a hard time answering Question #2 on the poll, since I'm partly depending on financial aid, partly on spouse/family contribution, and partly on my own savings and part-time work while in med school.....hoping to limit debt to 32,000 in subsidized stafford loans.
     
  9. neutropeniaboy

    neutropeniaboy Blasted ENT Attending 10+ Year Member

    946
    176
    Feb 10, 2002
    USA
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by ckent:
    <strong>200,000 in debt is crazy, I thought that the people posting such high numbers were DO students or something. Maryland is not cheap for a public school (14,000), but it is a bargain for all that you get.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Why does this seem unreasonable? If tuition alone at an institution is $25,000 per year, automatically one becomes $100,000 in debt. And if you need money for housing, insurance, food, etc., that will cost about $10-$15k per year. So, it's quite easy to end up with $160,000 of debt by the end of your four years. Boston...where the cost of living is high and the cost of education runs around $30k annually, it's easy to get up around $200,000. Plus, some people have undergraduate debt. Don't forget that.
     
  10. ckent

    ckent Banned Banned

    2,138
    1
    Jul 31, 2000
    Smallville/Metropolis
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by neutropeniaboy:
    <strong> Why does this seem unreasonable? If tuition alone at an institution is $25,000 per year, automatically one becomes $100,000 in debt. And if you need money for housing, insurance, food, etc., that will cost about $10-$15k per year. So, it's quite easy to end up with $160,000 of debt by the end of your four years. Boston...where the cost of living is high and the cost of education runs around $30k annually, it's easy to get up around $200,000. Plus, some people have undergraduate debt. Don't forget that.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Well I have 27,000 undergrad debt, but even after adding med school, I will be around 100,000. Just because tuition is 25,000, at most private schools (especially the highly ranked ones), there is a significant amount of financial aid in the form of grants/ scholarships. Unless your family is very wealthy, I think that most of the top medical schools average with around 40-60% of financial aid packages being in the form of grants. My understanding is that some of the lower ranked private med schools are comfortable having less financial aid because students have less of a choice when they go there, it's really unfortunate because I think that some of these students who are posting above 200,000 in debt will have trouble managing their debt unless they enter a very high paying specialty and go into private practice. The average for amount of debt for all medical students (MD) is currently 94,000, but those are people who started 4 years ago (when tuition was cheaper). I suspect that for the newer classes (class of 2004-2006), the average debt for all medical students will be around 120,000 because tuition rises ~4% every year.
     

Share This Page