Ouch. Don't do what I did. It likely won't matter for me since I plan on finding a way to make this PSLF thing happen but... because I had to go into forbearance because I forgot to recertify my IBR on time the interest that had accrued got recapitalized on principle. If I were to pay off the entirety of my loans that mistake probably cost me an extra few thousand bucks. If it had been a few years from now it would have been even more.
UQ-Ochsner 2016
- Thread starter Omidvar
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Hello! Apologies if these are stupid questions, or if this is the wrong forum for them. It seems like there's a lot of knowledgable people on here so I thought I'd give it a chance!
1. I want to take part in MSF after residency, and then end up back in my home state of PA. Would UQO prevent any of that from happening?
2. I love love LOVE the concept of this program, and I've had my eye on it for a few years now. I'm still going to apply to American MD/DO programs though, and I was just wondering if anyone on here was accepted to a US school but chose to go UQO anyway, for the experience. Also if anyone looked into Ireland or the UK, and why UQO looked better.
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3. When exactly does the program start? I'm having trouble putting together a timeline. If I graduate May 2016, it looks like I would be starting March of 2017? Is that right? Did everyone still apply at the same time as they applied for amcas/aacomas, or did you wait for those results before applying?
Thanks for your input!
1. I want to take part in MSF after residency, and then end up back in my home state of PA. Would UQO prevent any of that from happening?
2. I love love LOVE the concept of this program, and I've had my eye on it for a few years now. I'm still going to apply to American MD/DO programs though, and I was just wondering if anyone on here was accepted to a US school but chose to go UQO anyway, for the experience. Also if anyone looked into Ireland or the UK, and why UQO looked better.
Edit:
3. When exactly does the program start? I'm having trouble putting together a timeline. If I graduate May 2016, it looks like I would be starting March of 2017? Is that right? Did everyone still apply at the same time as they applied for amcas/aacomas, or did you wait for those results before applying?
Thanks for your input!
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1: Can't imagine how or why that would happen.
2: N/A
3: Classes always start late Jan/ early Feb of the year. So if you graduate in 2016 then you would start early 2017. How you choose to apply is up to you and your goals as above.
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1. No, but at the same time, even DOs can do MSF. And, well, by it's very name, any medical school in the world makes you eligible for MSF.
2. I was accepted to two US med schools - one ivy - but the reason I chose UQ-Ochsner I have is too specific and will identify me. I guess PM me if you want to know. However, just know it is oddly specific for me and no one should choose this program over the US.
3. Just want to add to nybgrus' statement: after you graduate, it seems like you have six months free for yourself, which lines you up with the US school year.
When did you interview? I just interviewed yesterday and I saw a couple of posts saying it usually takes less than 6 weeks for an answer
I hope they are somewhat selective with who they choose to admit.
Thanks a lot!
I can't speak to exactly how things are but the year I applied I knew someone else who also applied (it was the son of one of the ER attendings I worked with) and he was rejected even though the class was not full. He met the minimums but barely.
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Just remember that this is not a US medical school, and, as a result, must ALWAYS have lower qualifications. At the same time, as the requirements for US med school go up, so too will this program's.
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That acceptance isn't actually a seat in the program. The seats are filled in the order they receive your deposits. If you sit on it for 30 days waiting to hear from other places, you run the risk of the class filling and losing your place. I've heard US programs hand out three acceptances per seat, I would imagine that's higher for ochsner.
That being said, does anyone have the current number of seats still available?
That being said, does anyone have the current number of seats still available?
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You can call MedEdPath on Monday and they will let you know.
Maybe the cap is applicable only to the new borrowers after 7/2015. For the old borrowers, enjoy your big forgiveness.
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Can someone make sure my understanding is right?
If I put in the deposit of $3,000 but hear back from another school and decide to cancel my admission 21 days or more before the start date, do I get $2000 back since the cancellation fee is $1,000?
If I put in the deposit of $3,000 but hear back from another school and decide to cancel my admission 21 days or more before the start date, do I get $2000 back since the cancellation fee is $1,000?
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Best and fastest way to find out is on Monday from MedEdPath. They will NOT be offended if you ask this.
You have to pay the health insurance fee too unless you are getting health insurance on your own. Only then will your 'seat' will be secure/safe. btw the health insurance is a full refund.
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Yes, I will be getting health insurance on my own (found a cheaper deal of OSHC through NIB). You'd still have to purchase it and give them proof to secure a spot. What I'm wondering is why we have to purchase 51 months of coverage when we will be in New Orleans for the 3rd & 4th year. I know we will be returning for a rotation in Australia, but I don't think our time there totals up to 51 months. Someone correct me if I'm wrong.
You have to have coverage for the whole time of your degree - it is a condition of your visa. You'll get refunded the unused portion but you have to apply for the refund. I actually screwed that up and didn't do it on time and didn't get the refund, so make sure and look into the details ahead of time and be prepared.
The UQ-Ochsner program has a short history. I assume it is experimental, is that right? Some dumb questions:
1. Will UQ stop it for whatever reason?
2. Is the MD degree from UQ-Ochsner exactly the same as the MD degree from the UQ traditional program, or is it different by having "Ochsner" written on it?
3. How is the MD degree from the UQ-Ochsner program treated in the eyes of the Australian medical authority and professionals?
4. In the past it was allowed for one to switch from UQ-Ochsner to UQ traditional, but it is not allowed now. Why?
1. Will UQ stop it for whatever reason?
2. Is the MD degree from UQ-Ochsner exactly the same as the MD degree from the UQ traditional program, or is it different by having "Ochsner" written on it?
3. How is the MD degree from the UQ-Ochsner program treated in the eyes of the Australian medical authority and professionals?
4. In the past it was allowed for one to switch from UQ-Ochsner to UQ traditional, but it is not allowed now. Why?
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"Whatever reason" is broad, so yes it can. However, I should warn that it's unlikely they will stop a program that gets them more money than their normal medical program, and one that is jointly operated by a health system that wanted a medical school.
It is different, but it has the same quality and merit as UQ's traditional program. There's no distinction in having one over the other other than US residency.
Much like George Washington's "GTFO after we train you back to your country" program for international students, the Australian government doesn't seem too interested thus far in UQ-Ochsner students. This may change, though, so I would recommend you reach out to MedEdPath for this question.
I know someone who wanted to try this, and the reason they were given was the one @nybgrus actually mentioned: the tuition. I don't know why it's cited as the reason, but basically they can't accept you into a AUD-paid program via USD-money.
Some further points and clarifications:
1: As DUB said. They have no incentive to give up a lucrative partnership, particularly one with so much positive press associated in both countries. But sure, at some point something hypothetically could happen.
2: It is the exact same degree. There is absolutely no distinction. This is a requirement for accreditation. I actually sat in front of the Australian Medical Council during the accreditation process as part of a student panel. Yes, there are a few different requirements for us that no other UQ student has. And we have the de facto added requirement of the USMLE (though technically, you cannot be forced to take it and you can graduate without ever having done it, though there will be some academic and student government sanctions for doing so). But in order for the AMC to accredit the program they specifically wanted to be satisfied that our education was equivalent to that of the UQ traditionals, thus our standard would be up to theirs. And without AMC accreditation, UQ would not be on the FAIMER list and the degree would not be recognized by the US.
3: This one I can't answer though I have heard here and there that it is looked at askance at the moment. Mostly what I have heard is that existing practitioners with MBBS are wondering if that means their degree will somehow mean less, but also new ones wondering if patients will recognize their degree. But whether that is truly representative or not, I have no idea. Perhaps those were just early grumblings.
Now, as for being interested in us as residency... no. We are P6 listed which means last in line to get preference for spots. That said, every single year there have been at least a few of our students getting internship in QLD.
4: It was only "allowed" one year: the first. And that is only because it was not explicitly forbidden and someone wanted to switch. After that they put in the provision that such switches cannot be made. But it does not have to do with tuition (did I actually say that? If so, my apologies for the error). You apply for loans every year. It is easy enough to get them in AUD the next year because they always come in USD no matter what. The transition to USD was done during my 2nd year because the exchange rate really killed us.
I am not certain of the official reason and there are probably multiple, but probably the main reason is the aim of the program and the reason the partnership is mutually beneficial. UQ, like pretty much all universities these days, is in need for money. Internationals (or out of state for US state schools) bring in that extra money. Canadian students have been the largest single demographic of the internationals. But they have an extremely hard time getting back to Canada (worse than US students trying to get back stateside) so the vast majority of them stay in Aus. The class size did grow with the Ochsner students, but not at a greater rate than it had been before. Now there is stability and as the Ochsner cohort grew the Canadian cohort shrunk. So now UQ gets the tuition, all the other benefits of the partnership, and impacts internship spots less. And we get the opportunity to do 2 years in the states and come home for residency.
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In case anyone is wondering, Mededpath says 15-20 seats still available and the last interview session is middle of September.
So they are taking less than 120 students this year?
UQ traditional seats have been filled long time ago, but UQ-Ochsner seats are still available. Does it mean that more applicants prefer UQ traditional? To me UQ Ochsner program looks good because two years will be in Ochsner, but its stability, long term reputation among medical authorities & professionals, and higher tuition cost might be a concern. Of course, its long term reputation will also largely depend on its students performance in future, but currently its seems that the admission requirements are pretty low.
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Hi,
I have recently been accepted to the class starting in 2016 and was wondering, is there a facebook group?
I have recently been accepted to the class starting in 2016 and was wondering, is there a facebook group?
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No, it just means the traditional program is popular, and most US students haven't exhausted their US options (remember, the application cycle starts in June, and it's only Aug). Remember, UQ-Ochsner is (and should be) a last resort for US citizens and green card holders (a prereq for applying, btw).
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Congrats!!! Here is the link. https://www.facebook.com/groups/840685356010597/
Can you go through that group and accept requests. I've been waiting for approval for ages. MEP couldn't add me because my name isn't searchable.
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Hi Bebijoon and Smectutor,
Thank you for the quick response! I wasn't expecting a response yet alone a quick one.
UncomfortablyNumb, I just was added if that helps.
Thank you for the quick response! I wasn't expecting a response yet alone a quick one.
UncomfortablyNumb, I just was added if that helps.
I'm sorry, I'm not an admin for the group. Maybe you can temporarily make your Facebook searchable so you can be added?
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did you guys send rec letters in? Not sure what "not required but can be sent to our office" really means. Do they use them at all to give an offer?
D
deleted158872
About 2 weeks for me.
As for LORs, they're really optional and don't influence adcom.
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D
deleted158872
......
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It was 6 weeks to the day for me and I interviewed with Maruko. She has a significantly higher MCAT than me though, so I would imagine if you're above and beyond the cut offs you'll be alright. I'm above but not by a whole lot. I didn't send in LOR either. MEP used to say Ochsner wanted to read them so they collect them in your file but are not reviewed by UQ for determining admission.
D
deleted158872
Nah, my MCAT was just a bit higher, not significantly ^^
They do not influence admissions at all. In fact, it is rather a mystery what they are for. Perhaps they have come up with some clever use of them but to the best of my knowledge they are either filed away or used for promotional stuff by MEP.
I imagine they might be helpful when a chair or advisor writes a recommendation?
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I heard they are used for New Orleans, before you do your rotations, so that those who do your rotations under get to know you better.
Yeah, that's a distinct possibility. The problem there is that without making that explicit, certain of the cohort would be at a distinct disadvantage (or advantage, depending on perspective) without any reasonable means by which to know it.
I suppose my greater point is that it should be more explicit what they are actually for. If it is something useful, wouldn't it be good to know in order to motivate people to do it?
I'll see if I can ask. Because at the end of my 4th year, when MEP had begun asking for them, the admin at Ochsner had no idea they were even being asked for or what the intended use was when I started asking around.
Suppose by the end of M4 and before PGY1, the student loan balance is $400k. Then from PGY1 to PGY10, use IBP/PSLF to make min payments to the loan, and have capped amount, $57000, forgiven at the end of PGY10. Because the the forgiven amount is significantly less than the interests of the loan, even after the forgiveness, the outstanding balance of the loan will still be close to $500K. How to pay that after 10 years of diligent living? Please correct me what I have missed in the above guesstimate.
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Which residency takes ten years?
Also, why the frantic desire to pay off student loans? From my understanding, you actually want to keep student loans (not other debt) for as long as possible because the rates are so low, and you can put your money elsewhere and get equal/greater returns. I'm not saying this is a solution, but six figures "in debt" isn't a big deal when you are making six figures a year.
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Back when loans were 1.5%, the money was practically free and you could throw that into a CD with a 3-4% return or something unsafe with higher. But now, grad loans are around +7%, which is insane on 400k. That is NOT free money and you can't get a guaranteed return of higher than about 4% with America's current interest rates. I'd say your best bet is to do the 10 year income based repayment starting from residency. Rack up as many years of no-to-low payments you can, and cash in on the loan forgiveness.
That's my game plan anyway, unless there's some glaring issues I'm not seeing.
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Compounding interest: a Roth IRA with compounding, tax-free interest is a better investment even against a 7% loan. The reason the majority of hedge fund investors lose to the S&P is the "I'm special and live in a special time" fallacy, even though history has repeated over and over again that universal value will always increase.
I get people think this is the worst time in financial history and there can never and will never be anything worse, but this time is not special, not worst, nor best. As you can see now, there's rants complaining about the soon-to-rise bank account interest rates, that it's going to kill the 30%+ returns we've been enjoying in stocks (but it's not).
I'm not trying to say you should play the risky game, but cut the #### and be honest: if this venture was financial suicide (see NYMC), you wouldn't be doing it. However, you and I both know you'll be living not only comfortably with a physician's salary, but lavishly. Assuming you don't specialize, 4x a debt is nothing compared to debts like a million+ mortgage doctors readily go into.
