May 15, 2018
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I'm set on doing an MD/MBA program, and I have been fortunate enough to have two great options in terms of schools. I'm IS for Minnesota but am hoping to be on the east coast. My biggest question is, will it be worth the cost?

Tufts

+Heart of Boston (my dream city and I'd like to stay around here in long run)
+4 year MD/MBA program
+better residency opportunities? (I know it's a lot of self selection)
+student population is diverse
+my favorite interview
+closer to S/O's family (who I prefer than my own...)

-total COA ~115k avg for 4 years (includes MBA tuition)
-only need based scholarships
-MBA program isn't ranked as high as MN
-no free summer after M1
-dirty Sackler money??


Minnesota (Twin Cities)

+cheaper tuition (COA ~65k over 5 years)
+know some of the faculty and have good connections for research and opportunities
+consistently great education
+new med school building
+much stronger primary care, but I'm not particularly interested.

-some facilities looked old and sad
-colder than Boston
-annoyingly close to family
-an additional year for the same degrees, worth the forgone income?

I would be happy at either school but probably *more* happy at Tufts. Is it worth the money? Is it really more expensive if I save a year? Otherwise, I think the education at both are pretty similar—both are p/f, and I know I can excel at either. For residency, I'm eyeing the more competitive specialties, but I'm not committed to anything.
 
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Jun 27, 2019
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Given your pros and cons, I think Tufts is the easy choice. If you are set on MD/MBA then finishing in 4 years opposed to 5 is huge. Yes it may be 135k more, which is a substantial amount of money, but practicing a year earlier means one more year of attending salary, which is more than 135k. I say follow your heart and I think it makes sense financially.
 
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Rachapkis

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Apr 5, 2018
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The cost difference matters, but is not enough to be dispositive. Given that you seem to favor Tufts, I would head to Boston.
 
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Jul 6, 2019
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Think carefully about the cost difference (you’re going to business school!)- at 6%, the difference would cost you 16k a year for 20 years. Also, I’m in Boston, and I think Minnesota has pretty good cache here, as it should. A fresh location is great for the soul, but not sure it’s worth 200k. Study hard and do your residency in Boston!
 
Jul 2, 2019
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Opportunity cost alone points towards Tufts.
115 * 4 = 460
65 * 5 = 325
You said you aren't huge for primary care so you will for sure make more than 135/year.
You will get to a salary (likely a larger salary than just an MD I might add) one year earlier. Financially a better long term option + the school you actually prefer... sounds like a no-brainer.
 

EdgeTrimmer

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May 26, 2018
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Opportunity cost alone points towards Tufts.
115 * 4 = 460
65 * 5 = 325
You said you aren't huge for primary care so you will for sure make more than 135/year.
You will get to a salary (likely a larger salary than just an MD I might add) one year earlier. Financially a better long term option + the school you actually prefer... sounds like a no-brainer.
135K after taxes and add interest if taking loans, so probably breakeven with first year salary (after taxes, interest, cost of living adjustments). If you think you can handle dual degree load in 4 years and have quality time with SO go to Boston.
 
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May 15, 2018
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Thank you all for your replies! One other thing I’m wondering if people can help answer: Tufts only awards need-based aid, so it’s very likely that Minnesota will give me more aid, and the cost difference will be larger than what’s estimated without aid.

Does anybody have any anecdotes about turning down a large aid package to attend a preferred, more expensive school without much difference in rank? I’m assuming I won’t be able to leverage the aid from Minnesota at Tufts.
 
Jul 2, 2019
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My sibling did. They made the call that going to their preferred school was worth the experience and potential for a residency in a better location/better residency. Also did it for the opportunity to go out of state and experience the world outside of MN.
They have not had to deal with the long term financial ramifications at this point but are very happy with their decision.
 
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