Tuition at UMiami

[p9142]

Can a current student at UMiami please tell me what the tuition has been like at UMiami for the last couple years. I am trying to determine how much it is likely to go up every year.

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[DrZeke]

Hey, I'm glad I'm not the only one who is thinking about tuition. I am praying for a state school somewhere to accept me, so that I can way tuition into my potential decision of where to go. Right now it looks like Miami for me...but we'll see...

 

[p9142]

Hey, I'm glad I'm not the only one who is thinking about tuition. I am praying for a state school somewhere to accept me, so that I can way tuition into my potential decision of where to go. Right now it looks like Miami for me...but we'll see...

Every time I start a thread you are right there saying, "Hey, I want to know about this too." http://forums.studentdoctor.net/showthread.php?t=347697

Great minds think alike

 

[DrZeke]

LOL I know...what can I say? We're just smart!

 

[deuist]

Can a current student at UMiami please tell me what the tuition has been like at UMiami for the last couple years. I am trying to determine how much it is likely to go up every year.

It's been expensive, real expensive. You're going to pay a lot. See this table for a list of mandatory costs. Keep in mind that you'll need another $17,000-$20,000 for room and board. The costs for this year were only slightly higher than last year. You should expect a minimum of $30,000 for next year's tuition.

 

[Miami_med]

In reality, Miami's tuition is less for in-staters than most private schools, and it is comparable to slightly high for out-of-staters. However, most out of staters receive some aid that brings it back in line. Tuition has been rising VERY SLOWLY. I think that the difference between 1st and 2nd year was $200. Don't quote me on this one, but I have heard from the grapevine that Miami is intentionally holding its tuition down because UF is raising tuition at an alarming rate. They will soon be close enough to compete on a cost for cost basis in the tuition department.

Miami will not be the cheapest place to live. It will cost less than living in NY, Boston, or LA. It will cost more than living anywhere in the South or Midwest. Fees are genuinely comparable to other schools. It is one of the cheaper options for a major international urban environment. If you are just looking for the cheapest place though, Miami won't win.

 

[p9142]

Thanks for the replies. I was just trying to determine what kind of increases Miami has year over year. Also, I am planning on room and board costing much less than $20k (more like $11k.) I'm currently a grad student, so living frugally is no problem.

 

[DrZeke]

Thanks for the replies. I was just trying to determine what kind of increases Miami has year over year. Also, I am planning on room and board costing much less than $20k (more like $11k.) I'm currently a grad student, so living frugally is no problem.

Oy vey...good luck...$11k...I'm not saying you can't, but med school is no work in the park. You may want to consider that you might want a bit more money for a few treats every once in a while so that you don't BURN OUT

 

[p9142]

Oy vey...good luck...$11k...I'm not saying you can't, but med school is no work in the park. You may want to consider that you might want a bit more money for a few treats every once in a while so that you don't BURN OUT

Yeah it might be rough, but I am going by what this says:
http://www.mededu.miami.edu/OSFA/cost/index_html

I still haven't made up my mind, and my state schools are less than half as expensive, but I feel like I would be happier in Miami.

 

[DrZeke]

Yeah it might be rough, but I am going by what this says:
http://www.mededu.miami.edu/OSFA/cost/index_html

I still haven't made up my mind, and my state schools are less than half as expensive, but I feel like I would be happier in Miami.

Oh right right...ROOM AND BOARD..I thought you meant COST OF LIVING...which includes other crap . That's like 20k in Miami.

COL at one school I'm hoping to get into is 12k...lol...seriously...ouch

 

[1SwtWrld]

I was told at my interview that miami is intentionally keeping tuition increases low so in the next few years they will be equal to those of the in state florida schools which have been raising their rates heavily.

Living expenses will get you in miami though.......easily the most expensive city in florida.

 

[p9142]

I just found out that Miami has virtually no summer break to speak of. http://www.mededu.miami.edu/MedEd/divisionsFolder/student_affairs/e-docs/Acad_Cal_06-07.doc Does this mean that we are eligible for the full $45k in Stafford loans each year?

 

[p9142]

I just found out that Miami has virtually no summer break to speak of. http://www.mededu.miami.edu/MedEd/divisionsFolder/student_affairs/e-docs/Acad_Cal_06-07.doc Does this mean that we are eligible for the full $45k in Stafford loans each year?

Bueller, Bueller, Bueller . . .

 

[deuist]

I don't understand your question. Are you asking, "Since Miami students get such a short break, are we allowed to get the full Stafford loan?" Or are you saying, "Look what I found: Miami students get a short break. Oh, by the way, I have an unrelated question. Do we get to take out the full amount in Stafford loans?" Either way, the answer to your question can be found by writing to the financial aid office. They're a lot more knowledgeable about this subject than I am. PM me for an email address if you haven't already located it.

 

[p9142]

I don't understand your question. Are you asking, "Since Miami students get such a short break, are we allowed to get the full Stafford loan?" Or are you saying, "Look what I found: Miami students get a short break. Oh, by the way, I have an unrelated question. Do we get to take out the full amount in Stafford loans?" Either way, the answer to your question can be found by writing to the financial aid office. They're a lot more knowledgeable about this subject than I am. PM me for an email address if you haven't already located it.

I was asking the first question. The way I understand it, you get 38.5k if you are a 9 month student, or 45 k if you are a 12 month student. It appears that Miami students go to school for more like 10.5 months, so I was trying to figure out if we would qualify for the full amount. I emailed fiinancial aid a while ago, but they must still be on break. I thought someone here might know.

 

[UMMSM]

I was asking the first question. The way I understand it, you get 38.5k if you are a 9 month student, or 45 k if you are a 12 month student. It appears that Miami students go to school for more like 10.5 months, so I was trying to figure out if we would qualify for the full amount. I emailed fiinancial aid a while ago, but they must still be on break. I thought someone here might know.

p9142, the stafford limit for UMMSM is $38,500. I know because I've taken it out for the last couple of years.

If any student would like to take out more than the $38.5k/yr, Miami allows them to take out private loans up to the cost of attendance. The financial aid office at the med school is really awesome, just give them a call next week and they'll clear it up for you if you have any more questions.

 

[p9142]

Good to know. Thanks for the help.
I reaaalllllly want to end up in Miami, but I am totally freaked out by the high tuition and cost of living. In your opinion are the clinical and research opportunities at Jackson worth the $$$$?

 

[Tired]

Good to know. Thanks for the help.
I reaaalllllly want to end up in Miami, but I am totally freaked out by the high tuition and cost of living. In your opinion are the clinical and research opportunities at Jackson worth the $$$$?

Let me just chime in by suggesting that you not even think about the money. You will be grossly in debt by the time you get out of school, regardless of the school you attend. Asking if the "clinical and research opportunities are worth the $$$$" is kind of pointless. You're not going to feel the difference between 150k and 250k in loans by the time you finish. And although these look like very big numbers right now, any attending will tell you that you will pay it off with relatively little difficulty once you are out in practice.

Don't pick a school based on money. Pick it based on whether or not you like what you see. In the long run, the money is relatively minor consideration.

 

[DrZeke]

Let me just chime in by suggesting that you not even think about the money. You will be grossly in debt by the time you get out of school, regardless of the school you attend. Asking if the "clinical and research opportunities are worth the $$$$" is kind of pointless. You're not going to feel the difference between 150k and 250k in loans by the time you finish. And although these look like very big numbers right now, any attending will tell you that you will pay it off with relatively little difficulty once you are out in practice.

Don't pick a school based on money. Pick it based on whether or not you like what you see. In the long run, the money is relatively minor consideration.

Actually, I disagree with this. Based on talks I've had with many medical students, they actually say they should have paid more attention to the cost, as opposed to silly things like pre-clinical curriculum.

I think that if you can find a place that matches well, and has great clinical opportunities, and is very cheap, then best to go there. This is what many have told me. Cost is a huge factor for me too and I'm scared by certain cost of living as well.

Good luck to you.

 

[p9142]

Actually, I disagree with this. Based on talks I've had with many medical students, they actually say they should have paid more attention to the cost, as opposed to silly things like pre-clinical curriculum.

I think that if you can find a place that matches well, and has great clinical opportunities, and is very cheap, then best to go there. This is what many have told me. Cost is a huge factor for me too and I'm scared by certain cost of living as well.

Good luck to you.

The reason I am scared about the cost is because all the docs I shadowed kept telling me that salaries will keep going down, so it is important to keep your debt load low. I wish I could see into the future and determine what my salary will look like so I can make an informed decision, but the way it is makes me feel like I am gambling if I go to an expensive school. However, Dr. Hinkley did say not to worry about tuition, "because some day you will be paid $20k per month." I didn't really think about it at the time, but now that I am looking at racking up massive amounts of debt I keep thinking, "they @$#!ing better, or else I am really @#$%ed!"

 

[Tired]

The reason I am scared about the cost is because all the docs I shadowed kept telling me that salaries will keep going down, so it is important to keep your debt load low. I wish I could see into the future and determine what my salary will look like so I can make an informed decision, but the way it is makes me feel like I am gambling if I go to an expensive school. However, Dr. Hinkley did say not to worry about tuition, "because some day you will be paid $20k per month." I didn't really think about it at the time, but now that I am looking at racking up massive amounts of debt I keep thinking, "they @$#!ing better, or else I am really @#$%ed!"

If the cost is that much of a deterent, consider sitting down and drawing up a hypothetical budget. Look at the average salary in the specialty you are considering, make reasonable guesses on things like rent/mortgage and bills (assume you will live cheaply your first couple years after residency), and figure out how much you will have left over to put towards your loans. I think you will probably be suprised at what you find.

On a somewhat parallel note, take a look in the Military Medicne forum on this site, and look for a thread entitled "Detailed Cost Analysis of HPSP" or somethign similar.

No physician is ever bankrupted by their student loans. That's why the banks will loan us any amount of money we want as students, at relatively low interest rates.

 

[p9142]

If the cost is that much of a deterent, consider sitting down and drawing up a hypothetical budget. Look at the average salary in the specialty you are considering, make reasonable guesses on things like rent/mortgage and bills (assume you will live cheaply your first couple years after residency), and figure out how much you will have left over to put towards your loans. I think you will probably be suprised at what you find.

That is why I am so freaked out. I have no idea what the salary will be like in 8 years. If it keeps up with inflation, then no problem. But if it is stagnant or goes down, then things could get really bad.

 

[DrZeke]

The reason I am scared about the cost is because all the docs I shadowed kept telling me that salaries will keep going down, so it is important to keep your debt load low. I wish I could see into the future and determine what my salary will look like so I can make an informed decision, but the way it is makes me feel like I am gambling if I go to an expensive school. However, Dr. Hinkley did say not to worry about tuition, "because some day you will be paid $20k per month." I didn't really think about it at the time, but now that I am looking at racking up massive amounts of debt I keep thinking, "they @$#!ing better, or else I am really @#$%ed!"

I liked Hinkley's speech, but I didn't take it too seriously. I think if you've been accepted to any other school that you could see yourself being "happy" at, and it's cheaper, I would highly consider it. It seems to be a serious concern of yours.

 

[deuist]

Don't assume that you're going to live cheaply immediately after residency. As one attending's wife said, "Your friends are going to start buying houses and cars and going on expensive trips. You're not going to want to be left behind and will start spending, too." My personal physician has been out of residency for six years and is still $100,000 in debt. True, if you continue living like a student for several years, you'll pay off your loans. However, I doubt many married 30-year-olds will have spouses and children that will support that kind of lifestyle.

Cost is an issue. You'll see some residents and attendings on this board say that they wish they had gone to a cheaper public school because they learned the same material as everyone else.

If the cost is that much of a deterent, consider sitting down and drawing up a hypothetical budget. Look at the average salary in the specialty you are considering, make reasonable guesses on things like rent/mortgage and bills (assume you will live cheaply your first couple years after residency), and figure out how much you will have left over to put towards your loans. I think you will probably be suprised at what you find.

On a somewhat parallel note, take a look in the Military Medicne forum on this site, and look for a thread entitled "Detailed Cost Analysis of HPSP" or somethign similar.

No physician is ever bankrupted by their student loans. That's why the banks will loan us any amount of money we want as students, at relatively low interest rates.

 

[DrZeke]

Don't assume that you're going to live cheaply immediately after residency. As one attending's wife said, "Your friends are going to start buying houses and cars and going on expensive trips. You're not going to want to be left behind and will start spending, too." My personal physician has been out of residency for six years and is still $100,000 in debt. True, if you continue living like a student for several years, you'll pay off your loans. However, I doubt many married 30-year-olds will have spouses and children that will support that kind of lifestyle.

Cost is an issue. You'll see some residents and attendings on this board say that they wish they had gone to a cheaper public school because they learned the same material as everyone else.

Very good point about post residency lifestyle, Deuist. Like I said to the OP earlier. If you are dying to be at Miami, forget everything and just go, but if you know you are able to adapt and have found somewhere that you could be happy at, then maybe you should seriously consider it. From what I've heard from doctors and residents, and med students, where you went to school is not the be all end all.

Don't be swayed by the little things and make sure you're thinking long and hard about where you want to go. My friend at the #1 school is actually happy where they are, but in retrospect they should have not been impressed by silly things like curriculum. Their entire education is paid for, and so cost was never an issue. I know the curriculum is probably not why you are considering Miami , so if it's about location and clinical exposure, compare the other places you are accepted to and take a look at the match lists, think about where you might want to live in the future.

Miami definitely has a good match list, but so do other schools. If cost is a real issue, don't be afraid for it to factor into your decision. I know it may very well factor into mine.