Student interest rate increased nearly 20%. Think twice before you decide to attend pharmacy school

[UGAZ]

Please see this link

Undergraduates in US reportedly face nearly 20 percent increase in interest for student loans

Pharmacy is extremely saturated now. Before you sign the loan doc, make sure you know what you're signing into. Typically with 200K loan at 7% interest for 20 yrs plan, you will pay 1600/month and the total interest paid by end of 20 years = 172K.
Yuck!

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[AHossain]

Holy ****......


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[Apples2Oranges]

nothing new here. If you take 20 years to pay off a pharmacy school debt of 200k, not sure if you're good with finances if you work FT. But yeah. saturated. no pharmacy for another decade. got it.

 

[minzhen27510]

And this is student loan in general. Way to knock open the crack between rich and poor even more.

 

[impatientcollegestudent]

While this is true in general for average student loans. Taking on more....would be suicide


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[Apples2Oranges]

Find a scholarship or stop going to expensive schools beyond your means. It's not hard. Why would anyone commit to big loans in undergrad when they plan to go to grad school? Sure, take 100-200k for pharm school. But take 100-200k ON TOP of ugrad loans? laughable.

 

[PharmtoCS]

Pharmacy has become a terrible investment of your time and student loan money, and now it has only gotten worse. Computer programming, accounting, engineering, finance, etc. are much better career choices. They offer better job prospects and do not require you take out $200k+ in loans and spend an additional 4 years in school during which your balance will grow exponentially with the interest.

 

[jadedphysiotherapist]

Please see this link

Undergraduates in US reportedly face nearly 20 percent increase in interest for student loans

Pharmacy is extremely saturated now. Before you sign the loan doc, make sure you know what you're signing into. Typically with 200K loan at 7% interest for 20 yrs plan, you will pay 1600/month and the total interest paid by end of 20 years = 172K.
Yuck!

I just saw this. Add to the fact that pslf was essentially axed this year as well if not a specific 501 so the healthcare fairies walking around offering advice that "everything is going to be okay!" from when they left school in 2007 will be singing a different tune.

....and I GUARANTEE you that schools will not budge tuition even remotely. Yet financial aid will still walk in and say "Hey everyone so here is how you finance school! If you have interest then make sure to pay it off during school to save you money!"

Ridiculous.

 

[Apples2Oranges]

computer engineering is nice until you're like 35-40. Then you realize you don't want to sell your soul to the devil. You either quit yourself or they force you out for a brand new grad. The salary for computer programmers is like $100k in CA...but that's nothing there.

 

[PharmtoCS]

computer engineering is nice until you're like 35-40. Then you realize you don't want to sell your soul to the devil. You either quit yourself or they force you out for a brand new grad. The salary for computer programmers is like $100k in CA...but that's nothing there.

Same with pharmacy, especially chain retail. The net salary for pharmacists in California is actually lower after you factor in student loans, yet so many pharmacists want to move back into the state after going to school out of state, hence there are so few job openings.

Computer programming will save you $200k+ in loans, 4 years of your life, from a terrible work-life balance, and from being condemned to work in Barrow, Alaska indefinitely.

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[AHossain]

Same with pharmacy, especially chain retail. The net salary for pharmacists in California is actually lower after you factor in student loans, yet so many pharmacists want to move back into the state after going to school out of state, hence there are so few job openings.

Computer programming will save you $200k+ in loans, 4 years of your life, from a terrible work-life balance, and from being condemned to work in Barrow, Alaska indefinitely.

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Damn


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