Student loan

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ghee21

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Hi. I'm planning to go to pharmacy school. Can you tell me what's the average total student loan I might have after finishing pharm D? I'm kind of worried.
I graduated with a BS in nutrition. Should I go for pharmacy school? I'm kind of worried about having a huge debt. Is it worth it to go to pharmacy school?
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ghee21 said:
Hi. I'm planning to go to pharmacy school. Can you tell me what's the average total student loan I might have after finishing pharm D? I'm kind of worried.
I graduated with a BS in nutrition. Should I go for pharmacy school? I'm kind of worried about having a huge debt. Is it worth it to go to pharmacy school?
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it's about 20k per semester. you do the math
that plus the interest because i'm sure after 6 years, there wont be any jobs left. it could take you way more than the 10 year plan to pay it off.
I also hear they may be adding another year to the program.
so in short, yes, you will be in insurmountable debt and most likely without a job
 
Me and classmates are borrowing around 55k per yr with interest from 6-8%
 
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If you lived in CA like me, it's gonna be expensive no matter what. Other states have more reasonable in-state tuition,but it is still gonna be expensive. I'm looking at about $150,000 in debt at the end of my four years unless I am able to make significantly more money that what I'm currently expecting.

If pharmacy is something that excites you, it is totally worth it. If you're just doing it for a cushy job and a pay check, eh you can still do it, but it isn't what it used to be.
 
A classified came across this morning for a RX manager position. Compensation at $35/hr.
 
ghee21 said:
Hi. I'm planning to go to pharmacy school. Can you tell me what's the average total student loan I might have after finishing pharm D? I'm kind of worried.
I graduated with a BS in nutrition. Should I go for pharmacy school? I'm kind of worried about having a huge debt. Is it worth it to go to pharmacy school?
Click to expand...

Don't do it. JUST.DON'T.
 
Hahaha. I already bought dr. Collins. Can't believe it's that expensive!! :(
 
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I know. Don't worry I'm not that immature.
 
if you dont mind relocating to some remote town for work then go for it. Most likely those are the jobs that would be left by the time you graduate. Be a dentist instead, after a while when you own your practice you get to pick your hours
 
ghee21 said:
So I should do it???! I'm in Texas.
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Only if you WANT to be a pharmacist. And if you do, go public in-state. Tuition + fees should be <$20k/yr. Intern 16 hours/week and you should make enough to cover living expenses in Texas. Be willing to move to wherever jobs are when you graduate.
 
At last Texas has reasonable tuition rates.

Try to borrow <= to your first year salary. So no more than $110,000..

I went to school in California, and this is pretty much impossible unless someone like your parents can bankroll you..
 
koercive said:
At last Texas has reasonable tuition rates.

Try to borrow <= to your first year salary. So no more than $110,000..

I went to school in California, and this is pretty much impossible unless someone like your parents can bankroll you..
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In texas going for petro engineering is a better investment. 4-5 years, undergrad tuition, get paid more than pharmacists. $Cha-Chin$
 
BMBiology said:
Did someone call me? LOL

Just keep in mind that a lot of people underestimate how much they will owe when you graduate.
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Yes, there are a few things:

- Capitalized interest accumulates while you are in school then gets lumped on when you graduate. It can add up to quite a lot, perhaps tens of thousands of dollars, because of the high interest rates (6.8%-8.5%) and I think grad students only get unsubsidized loans now.

$250k at 6.8% is $17,000 in interest per year.

- Origination and guarantee fees. I think they deduct 1% from Direct Loans and 4% from Grad Plus loans before you even get a disbursement.
 
If you decide to go for PharmD, work when you attend school and when you are on summer/winter breaks. In my household, the pharmacy student works 15-20 hours a week during school years and 40 hours during breaks. We borrow 12K a year for 50% of his tuition.
 
wbruin99 said:
If you decide to go for PharmD, work when you attend school and when you are on summer/winter breaks. In my household, the pharmacy student works 15-20 hours a week during school years and 40 hours during breaks. We borrow 12K a year for 50% of his tuition.
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Easier said than done. Not many people can handle school plus 20 hours a week. The chains have also been cutting back intern hours and coupled that with a record number of pharmacy students.
 
joetrisman said:
5/10 on your doom and gloom delivery. You're losing your touch
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I wish I can tell you pharmacy school is a good investment but when you really look at the cost and the direction of the profession, I don't think anyone here can say it's a good investment for most people.

People who were bragging about IBR are now trying to pay as much as possible. People who were hoping to work for a non-profit organization so they can qualify for PSLF are now scrambling for a job, any job.
 
BMBiology said:
I would say the majority underestimate how much they need to borrow for pharmacy school.
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I admit it. BM is right and I would listen to him. I changed my mind about pharmacy and it's probably the best decision I've made. No idea exactly where I'm going to end up, but at least it won't be in a profession with few jobs + $180K in debt. :)

Thread highjack for a moment.. I have the academic foundation to pursue chemistry, neuroscience, psychology, or pharmacology.. all lower paying, but I think they will be more enjoyable. Any specific career suggestions are welcome (and thank you ahead of time).
 
Guitarmacy said:
I admit it. BM is right and I would listen to him. I changed my mind about pharmacy and it's probably the best decision I've made. No idea exactly where I'm going to end up, but at least it won't be in a profession with few jobs + $180K in debt. :)

Thread highjack for a moment.. I have the academic foundation to pursue chemistry, neuroscience, psychology, or pharmacology.. all lower paying, but I think they will be more enjoyable. Any specific career suggestions are welcome (and thank you ahead of time).
Click to expand...

Medicine. Or, engineering if you want a shorter path.
 
Guitarmacy said:
I admit it. BM is right and I would listen to him. I changed my mind about pharmacy and it's probably the best decision I've made. No idea exactly where I'm going to end up, but at least it won't be in a profession with few jobs + $180K in debt. :)

Thread highjack for a moment.. I have the academic foundation to pursue chemistry, neuroscience, psychology, or pharmacology.. all lower paying, but I think they will be more enjoyable. Any specific career suggestions are welcome (and thank you ahead of time).
Click to expand...

As suggested earlier, petrol engineering is a good option depending on where you are willing to relocate to. If I were graduating college today (looking forward 4 years at PharmD prospects in 2017), I would probably do MPH at a top tier school and work in healthcare finance, consulting, or marketing. Instead of rotations you do "consulting" projects for real companies: managed care, startups, pharma, govt, etc. This real world experience and a few classes is yours for 2 years of your time. If time is no issue for you, invest in a PhD.

Do you care if you end up in academia or industry?
 
ghee21 said:
So I should do it???! I'm in Texas.
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what kind of stupid question is this? it doesn't matter if you are in Texas, Alaska, North Korea or wherever. (maybe North Korea is not..nvm)

it's your life. Why are you asking other people about your career path.

Listen, let's say somebody tells you that 'hey, software engineering is good field' so you decide to do it. What if you don't like it?

Please don't choose career by availability of job market OR numbers in paycheck OR reputation. Go listen to your heart. You should know what you are enjoying of. if not, go volunteer/work and figure it out.

Best Luck! :thumbup:
 
Haha thanks for the reality check guys. And for those who said about my question being stupid and all that. I'm sorry..lets say I was in a life crisis mode. No haters. I thought this would actually help me find some answers. It did, thanks --just seeking for counsel. (I'm sure you felt the same way when you were deciding what to do--thought this forum helps people get on a smooth track..encourage or give advises--not tell them how stupid their questions are).

Thank you guys. I really appreciate your ideas and I'm glad I did ask.
 
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