Hey guys so I am very very indicisive about where to go to school. I know both schools are great schools but no one can overlook Loma Linda's #1 clinical ranking or UOP's 3 year program. In addition I have done alot of research to quantify the costs of each school.
Loma Linda Tuition - 173,607
UOP Tuition - 210,438 - 30,000 schollarship = 180,000
UOP estimates that my living costs in san francisco however will be about another 68,000 which makes my UOP debt go up to 248,000k. At Loma Linda, however real estate is relatively cheap and my parents said that they will be willing to put a down payment on a condo. This will allow me to make payments on the condo with the living loans i receive and therefore gain equity in the long run. So Loma linda living costs should only take into account food, transportation, electricity and such. which should account for about 20,000 during the 4 years. This would bring LOMA linda price to about 193,000.
Loma linda is also very close to my parent's place which would make it alot easier would i need anything. Also because I have a summer job as a lifeguard which I make 15 dollars an hour, I will be able to work this summer and the next summer if I attend Loma Linda. Each summer which runs from June to september I work full time and earn about 5,000 dollars. SO that would be an additional 10,000 dollars that I can take off the cost of LOMA LINDA. This means that loma linda will only cost me 183,000. Now if I subtract UOP's cost minus Loma linda's cost 248000-183000, it comes out to a 65,000 dollar difference.
Ok so UOP claims most of their student's interest rate to be 6% and according to a formula they gave us, at that rate, our loans will double in 12 years. Assuming it will take me about 12 years to repay my loans, that 65,000 dollar difference will become 130,000 thousand. So in essence it will cost me 130,000 thousand dollars or more to attend UOP. Which ofcourse I can make up during the 1 year that I will have after graudating earlier. However, 12 years to repay a 250,000 loan is very optimistic, so I am thinking it might take me longer, and the difference will be a little bit more than 130,000. Plus if I attend Loma Linda, I will have a good investment in a condo by the time I graduate.
So can anyone help me out and shine some light on my decision, thank you.
Loma Linda Tuition - 173,607
UOP Tuition - 210,438 - 30,000 schollarship = 180,000
UOP estimates that my living costs in san francisco however will be about another 68,000 which makes my UOP debt go up to 248,000k. At Loma Linda, however real estate is relatively cheap and my parents said that they will be willing to put a down payment on a condo. This will allow me to make payments on the condo with the living loans i receive and therefore gain equity in the long run. So Loma linda living costs should only take into account food, transportation, electricity and such. which should account for about 20,000 during the 4 years. This would bring LOMA linda price to about 193,000.
Loma linda is also very close to my parent's place which would make it alot easier would i need anything. Also because I have a summer job as a lifeguard which I make 15 dollars an hour, I will be able to work this summer and the next summer if I attend Loma Linda. Each summer which runs from June to september I work full time and earn about 5,000 dollars. SO that would be an additional 10,000 dollars that I can take off the cost of LOMA LINDA. This means that loma linda will only cost me 183,000. Now if I subtract UOP's cost minus Loma linda's cost 248000-183000, it comes out to a 65,000 dollar difference.
Ok so UOP claims most of their student's interest rate to be 6% and according to a formula they gave us, at that rate, our loans will double in 12 years. Assuming it will take me about 12 years to repay my loans, that 65,000 dollar difference will become 130,000 thousand. So in essence it will cost me 130,000 thousand dollars or more to attend UOP. Which ofcourse I can make up during the 1 year that I will have after graudating earlier. However, 12 years to repay a 250,000 loan is very optimistic, so I am thinking it might take me longer, and the difference will be a little bit more than 130,000. Plus if I attend Loma Linda, I will have a good investment in a condo by the time I graduate.
So can anyone help me out and shine some light on my decision, thank you.