Indentured Servant

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Jan 29, 2014
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Graduated from USC pharmacy school a few years ago. I wish someone had told me these things before I started. This is my honest review…For being one of the most expensive programs in the nation, USC has under delivered.

Cons

Students are treated poorly

crappy facilities - overcrowded, old building

no place to study after 10pm. library closes (except for during finals week). not a single place to study in the building, everything is locked down. med students get office space. you have to drive 15-20 min to the main campus or find somewhere else to study

poor management - good professors are not given promotions while the bad run the place

more poor management - miscommunication and lack of organization - rotation sites being lost due to not following up with preceptors. Ask any of the third years when it comes time to rank their rotations and wait for the results. Certain faculty members should be fired but continue to run the school.
you’d think there would be more partnerships with local hospitals/businesses to hire interns but there isn’t

very slow to change – feedback from students mostly ignored

fraternity politics is detrimental to all students (seriously)

lack of flexibility in curriculum - few electives, shove clinical down your throat. Ucsf has different paths for students to take

almost no job placement help including residency preparation

Those who went to usc for undergrad will tell you that undergrad was run infinitely better. Or if you start the program, compare it to the other grad programs at usc

feeling that you are being taken advantage of – such as being free labor for the county system

admissions committee increasingly selects “book smart” people

crappy location (east LA), high cost of living in decent areas

yes, a lot of successful people came out of this program. this was mostly due to self motivation and not that the school helped you . at times you may feel that the school is an obstacle

very little scholarship money (unless you have perfect grades or you are a minority). Seriously unless you are rich, consider other cheaper schools first. Even if you are scared of leaving California, you won’t regret it

I won’t be completely negative….. Pros – nationally recognized program, good alumni network, you come out competent in pharmacy, football




Really consider going to a cheaper alternative.. in fact there are higher ranked public schools out of state that will save you a fortune and you will probably be a lot happier

I really expected a lot more for mortgaging my future. I guess I was too optimistic. At the very least, the USC brand and knowledge acquired is somewhat of a consolation

People make fun of the new schools in California, but USC better watch out. They have nothing to lose and trying to differentiate themselves. Will usc remain competitive? I don’t know.. for now, I’d still hire usc grads over some of the no name schools but for how long?

Many of my classmates and I always wondered where our money really goes. And good luck ever getting donations from your recent grads.. I am not alone in feeling this way. I seriously hope change is made soon
 
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Dec 2, 2013
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a lot of what you said, i heard from other current USC students :(

but do you think the "USC brand" outweighs the negatives? despite the cons of the program/school, i thought the strong network would help with job placement
 
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Farmercyst

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Graduated from USC pharmacy school a few years ago. I wish someone had told me these things before I started. This is my honest review…For being one of the most expensive programs in the nation, USC has under delivered.

Cons

Students are treated poorly. I can't say I ever was.

crappy facilities - overcrowded, old building. Not a big deal for me, but I saw it before I decided to attend.

poor management - good professors are not given promotions while the bad run the place. I certainly had my favorites, and ones I didn't like, but I don't know I would jump to this conclusion.

more poor management - miscommunication and lack of organization - rotation sites being lost due to not following up with preceptors. Ask any of the third years when it comes time to rank their rotations and wait for the results. Certain faculty members should be fired but continue to run the school.
you’d think there would be more partnerships with local hospitals/businesses to hire interns but there isn’t. I'm thinking you may not be aware of everything going on in the background here. Sure it took a long time to get rotations set up and students sites coordinated, but given 285 students times 6 rotations with variability in sites and coordinating with preceptor schedules, conferences, lecturing by some preceptors, etc I'm not sure what else you can expect.

As for partnering with local hospitals/businesses, I'm not sure how many networking opportunities there are including interns coming in to announce job opportunities, meet and greets with large employers, summer internship interviews, etc. But it is no small number.


very slow to change – feedback from students mostly ignored Definitely slow to change. I won't disagree.

fraternity politics is detrimental to all students (seriously) Fraternity politics is ever present, not sure I'd go as far as to say detrimental, but certainly sways elections.

lack of flexibility in curriculum - few electives, shove clinical down your throat. Ucsf has different paths for students to take. I'd agree with few electives. Since clinical pharmacy is universally needed, I'm not sure it's a bad thing as alluded to in your positives, but I agree that electives could be tailored better to differing fields of pharmacy.

almost no job placement help including residency preparation. So the residency fair, career fair and other networking opportunities don't count? There's certainly no job handed to you with your diploma, but there were plenty of opportunities for CV review, interview tips, residency workshops, etc.

Those who went to usc for undergrad will tell you that undergrad was run infinitely better. Or if you start the program, compare it to the other grad programs at usc Never asked any of the SC undergrads how pharmacy school compared to undergrad :shrug:

feeling that you are being taken advantage of – such as being free labor for the county system. That feeling is certainly expressed, But did you want them to partner with local hospitals/employers or not. Sounds like a beggars/choosers issue to me.

admissions committee increasingly selects “book smart” people. Can't argue with the high degree of success of those book smart people in my experience. Sure some aren't blessed with social skills, but that's not necessary in all areas of pharmacy either.

crappy location (east LA), high cost of living in decent areas. True statement, but it's California, try finding cheap cost of living at SF or SD, or even Pomona quite frankly.

yes, a lot of successful people came out of this program. this was mostly due to self motivation and not that the school helped you . at times you may feel that the school is an obstacle. Welcome to the real world, where you actually have to be self motivated. The school presents opportunities, if you don't take them, it's not their fault.

very little scholarship money (unless you have perfect grades or you are a minority). Seriously unless you are rich, consider other cheaper schools first. Even if you are scared of leaving California, you won’t regret it I'd agree there aren't boatloads of money for people who don't fill certain niches, but when I applied I got something, which is better than the nothing I got when I didn't apply.

I won’t be completely negative….. Pros – nationally recognized program, good alumni network, you come out competent in pharmacy, football Amazing that one could come out competent in pharmacy with all the negatives listed.

In the end, yes there are cheaper schools where someone could come out equivalently prepared for pharmacy, or perhaps better prepared. Not all the faculty are living legends in pharmacy, and sometimes you may have to work your own way through the maze that is finding your desired electives, rotations, etc. But it's a complete school with opportunities to network, find work, and become a decent pharmacist regardless of your area of concentration.





Really consider going to a cheaper alternative.. in fact there are higher ranked public schools out of state that will save you a fortune and you will probably be a lot happier

I really expected a lot more for mortgaging my future. I guess I was too optimistic. At the very least, the USC brand and knowledge acquired is somewhat of a consolation

People make fun of the new schools in California, but USC better watch out. They have nothing to lose and trying to differentiate themselves. Will usc remain competitive? I don’t know.. for now, I’d still hire usc grads over some of the no name schools but for how long?

Many of my classmates and I always wondered where our money really goes. And good luck ever getting donations from your recent grads.. I am not alone in feeling this way. I seriously hope change is made soon
In the end, yes there are cheaper schools where someone could come out equivalently prepared for pharmacy, or perhaps better prepared. Not all the faculty are living legends in pharmacy, and sometimes you may have to work your own way through the maze that is finding your desired electives, rotations, etc. But it's a complete school with opportunities to network, find work, and become a decent pharmacist regardless of your area of concentration.
 

pharmasaur

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Mar 17, 2012
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I go to USC and mostly agree with what you said. There are some faculty that are excellent though and if you go out of your way (this is the key - REAALLLYYYY go out of your way) you can learn a lot from them and excel in the field of pharmacy. There are still some rotation sites that are very good, challenging, and you learn a lot. But, most pharmacy students are passive and they need to be spoon-fed everything. Since the tuition is $45k-50k/yr, I think expecting to be spoon-fed is a reasonable expectation. Shouldn't you get what you pay for? I think the degree to which we have to go out of our way to learn is equivalent to going to a low-tuition [email protected] state school. rich private schools should prepare an excellent, no-hassle program for students. USC's program is bare bones, with the option to gain great experiences if you really go out of your way. I do think we have a lot of opportunities that other schools don't have, but most students dont take advantage of them either bc of bitterness towards the program, being swamped with too much busy work/memorizing, or even bc they feel like since they are at USC, they don't need to work hard and that success will come to them! students at less-quality schools feel the heat and they are really gunning, USC students are on cruise control but bc of that a lot of them are getting no where fast.
 
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Oink

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So... are there any schools that actually spoon feed their students? I've never heard of a school letting you sit there while they hand you all the keys to success. I thought it's always expected that students find their own way of finding good opportunities for themselves
 

Indentured Servant

Enslaved Pharmacist
Jan 29, 2014
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Intersection of Debt and Despair
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Jessica.. let's put it this way, if you were a close friend or family member of mine, i would urge you to find another school because the 4 years were tortorous. in fact i would try to convince you. and not all schools are that way , i know because i talk to ppl from other schools nationwide. there's a difference between hating your school and having to jump through hurdles vs liking your school and understanding that it will be hard

the network is a tiny benefit for the HUGE COST (financial and psychological)

if you decide to attend, you will know what i mean. not being spoon fed, that's fine, but being treated like a child when i have been in the work force prior to starting was the worst part. other graduate programs at usc will cater food, have sponsored social events. that's why i really wonder where the money goes. perhaps a dedicated career center would be nice give the crap market

Jibby, worst decision i made in my life tbh
 

Jibby321

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When you graduated how much debt total did you accumulate?
 

intekmdma

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Thought I should chime in here as a P1

As a student, I haven't been treated poorly yet (do you mean by the faculty?)

I personally like the old building style, but can see how many will agree the latest tech. are the best. Luckily the classrooms were renovated during the summer and they are currently renovating the labs.

As for poor management, miscommunication, and lack of organization, well, i'll skip that since you've mentioned it.

Feedback from the students: it seems like our class, 2017, are the first to speak up formally about above and they seem to be recognizing it; from my understanding, we're meeting with the faculty to discuss what changes can be implemented.

Frats: this is with a lot of pharmacy schools, you can't avoid it. I've already talked to friends from UOP and Loma Linda and it's the same thing. It's what you make of it; i'm one of the minority that isn't in one and it isn't too bad as long as you don't let it get under your skin.

From what I've seen so far, they do gear everyone to be clinical pharmacists, and in comparison to UCSF, well... if I had the opportunity to go there, I would. :)

I'm not sure how admission chooses their applicants, but I don't fall under book smart (community college GPA: 2.8) but I do plan getting into Rho Chi next year.

I think your arguments are valid, but some of them are changing. Thanks for the honest opinion.



My main reason for choosing this school over the ones I were accepted to, is that this school has a very strong research program and the "branding" + the degree should get me where I want to be. (I'm not going the traditional pharmacy route)

As far as everyone complaining about tuition, this is a private school, in California; Touro in the bay area AND in New York have the same price tag, UOP is close by a few thousand. I agree with trying to save money, but your only choices are UCSF and UCSD if you want to stick around California, and not to mention they are very competitive.
 
Dec 2, 2013
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what would be your advice to someone who is from Socal, plans to live and settle down here eventually, but has the desire to go out of state for pharmacy school? my interview at USC is on 3/8 and IF i get in, wouldn't it be best (thinking of long term) to attend usc? :/
 

pharmdx92

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I'm not sure how admission chooses their applicants, but I don't fall under book smart (community college GPA: 2.8) but I do plan getting into Rho Chi next year.
Just curious, but isn't USC minimum GPA requirement a 3.0 for both cumulative and science?
 
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intekmdma

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what would be your advice to someone who is from Socal, plans to live and settle down here eventually, but has the desire to go out of state for pharmacy school? my interview at USC is on 3/8 and IF i get in, wouldn't it be best (thinking of long term) to attend usc? :/
I was pretty set on attending an out of state school too, but my mentor suggested that if I wanted to work in California, that it'd be easier just to go to school here. So we can learn the laws here. (But that wasn't the reason why I ended up staying, there are much more biotech jobs in California than my other choice)

Just curious, but isn't USC minimum GPA requirement a 3.0 for both cumulative and science?
My cumulative GPA is 3.45

That point was to emphasize that I had poor grades during the start of my community college career, so it would seem that they aren't just looking for a bookworm that has top grades

I'm also from SoCal and interviewing at USC on the 8th, but I'm already pretty set on Minnesota. USC is a great school but it's just too expensive for me.
TBH, if you already got into Minnesota, you should cancel your interview with USC. I have friends that go there and they say it's a great school.
 
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Mar 4, 2012
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45k tuition... wow
 
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pharmasaur

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bottom-line is that students will choose USC anyway because of the name of USC in general, not necessarily due to the program itself. then they come to USC and regret it later, then they tell their friends to avoid USC....but the friends come anyway....there really is no point to this thread unfortunately bc students dont listen
 
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pharmdx92

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All the people and pharmacists that went to USC sop are happy with life in general I mean it's the top school so yea
I wouldn't go out as far as saying that it is the "top school", but the USC name is very well-known throughout the nation.
 

intekmdma

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45k tuition... wow
Actually I think it's 50k now, I'm pretty sure I had to pay 25k last semester.

bottom-line is that students will choose USC anyway because of the name of USC in general, not necessarily due to the program itself. then they come to USC and regret it later, then they tell their friends to avoid USC....but the friends come anyway....there really is no point to this thread unfortunately bc students dont listen
^ indeed true ;)

We had a meeting with the associate dean today and some of the topics mentioned from the opening post were addressed!
 

MatCauthon

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There is only one thing I needed to read in this thread: 50k annual tuition. I'm assuming this cost is tuition only and doesn't include cost living either?

Run FAR FAR away from USC. Even out-of-state tuition is vastly cheaper at many state schools. It isn't worth it to take out 250k plus loans to be pharmacist. You might as well have been an MD. I agonize over my student loans right now and I have less than half of what a USC pharmacy graduate likely has.

Don't mortgage your future to with unneeded debt. Have some business sense. The pharmacy market in SoCal isn't great, and you don't need to go to a SoCal school to get a job there. School prestige has little value in the pharmacy market. There are far better ways to network than to graduate from a certain school.

I know some of you don't want to move, but get used to it. The new pharmacy reality is that people often need to relocate to find jobs, residencies, etc.

If you can't get into an affordable pharmacy school don't bother. There is a lot of other careers out there.
 
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Indentured Servant

Enslaved Pharmacist
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Want to update that 3 people messaged me agreeing with my original post. for their privacy, I wont list who messaged me.

Mat, it's around 45k not including cost of living. I have indeed mortgaged my future. Every life event is delayed. if you are not wealthy go somewhere else. i was stupid for deciding to go to usc out of college. No one really warns you and you are on your own, but you live and you learn.

no more unsubsidized loans... IBR/PAYE are ploys to keep you paying for almost an eternity while the government collects (you will be taxed for the forgiven amount unless you work in the public sector). think about it , you pay 10-15% of your income so a recent grad with high income can spend, spend, spend and keep the economy going. this is no charity folks.

I'm in a good place career-wise and the loans will be paid off quickly. Very little of this had to do with the school helping me. In fact i have felt that i had an uphill battle achieving my career goals and for the most part this program got in the way (eg the way rotations are set up). I will never donate a penny to the program. you expect a certain level of quality for paying a huge premium which was not the case

Intek, what made you guys have the meeting? I am hoping for your sake that there is incremental change (doubt it though).
 
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Indentured Servant

Enslaved Pharmacist
Jan 29, 2014
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11
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Intersection of Debt and Despair
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Thought I should chime in here as a P1

As a student, I haven't been treated poorly yet (do you mean by the faculty?)

I personally like the old building style, but can see how many will agree the latest tech. are the best. Luckily the classrooms were renovated during the summer and they are currently renovating the labs.

As for poor management, miscommunication, and lack of organization, well, i'll skip that since you've mentioned it.

Feedback from the students: it seems like our class, 2017, are the first to speak up formally about above and they seem to be recognizing it; from my understanding, we're meeting with the faculty to discuss what changes can be implemented.

Frats: this is with a lot of pharmacy schools, you can't avoid it. I've already talked to friends from UOP and Loma Linda and it's the same thing. It's what you make of it; i'm one of the minority that isn't in one and it isn't too bad as long as you don't let it get under your skin.

From what I've seen so far, they do gear everyone to be clinical pharmacists, and in comparison to UCSF, well... if I had the opportunity to go there, I would. :)

I'm not sure how admission chooses their applicants, but I don't fall under book smart (community college GPA: 2.8) but I do plan getting into Rho Chi next year.

I think your arguments are valid, but some of them are changing. Thanks for the honest opinion.



My main reason for choosing this school over the ones I were accepted to, is that this school has a very strong research program and the "branding" + the degree should get me where I want to be. (I'm not going the traditional pharmacy route)

As far as everyone complaining about tuition, this is a private school, in California; Touro in the bay area AND in New York have the same price tag, UOP is close by a few thousand. I agree with trying to save money, but your only choices are UCSF and UCSD if you want to stick around California, and not to mention they are very competitive.
you're right. compared to other schools in california, you have no choice but to go to usc if you don't get into ucsf. you pay just as much go to these other schools and usc would be a better choice.
 
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Indentured Servant

Enslaved Pharmacist
Jan 29, 2014
10
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Intersection of Debt and Despair
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Pharmacist
Want to update that 3 people messaged me agreeing with my original post. for their privacy, I wont list who messaged me.

Mat, it's around 45k not including cost of living. I have indeed mortgaged my future. Every life event is delayed. if you are not wealthy go somewhere else. i was stupid for making the decision to pay this much out of college but you live and you learn.

no more unsubsidized loans... IBR/PAYE are ploys to keep you paying for almost an eternity while the government collects (you will be taxed for the forgiven amount unless you work in the public sector). think about it , you pay 10-15% of your income so a recent grad with high income can spend, spend, spend and keep the economy going. this is no charity folks.

I'm in a good place career-wise and the loans will be paid off quickly. Very little of this had to do with the school helping me. In fact i have felt that i had an uphill battle achieving my career goals and for the most part this program got in the way (eg the way rotations are set up). I will never donate a penny to the program. you expect a certain level of quality for paying a huge premium which was not the case

Intek, what made you guys have the meeting? I am hoping for your sake that there is incremental change (doubt it though).
 
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intekmdma

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Dec 15, 2013
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you're right. compared to other schools in california, you have no choice but to go to usc if you don't get into ucsf. you pay just as much go to these other schools and usc would be a better choice.
Hi there, thank you for sharing your experience. How about UCSD? I think what UCSD has achieved for the past 10 years are really solid and possibly makes it one of the best pharmacy schools in CA. I ask because I consider going to UCSD instead of USC, despite its "brand," and I didn't apply to UCSF.
 
Mar 4, 2012
849
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Durham, North Carolina
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Hi there, thank you for sharing your experience. How about UCSD? I think what UCSD has achieved for the past 10 years are really solid and possibly makes it one of the best pharmacy schools in CA. I ask because I consider going to UCSD instead of USC, despite its "brand," and I didn't apply to UCSF.
Aren't they under probation? I remember seeing it from somewhere.
 
Dec 15, 2013
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Aren't they under probation? I remember seeing it from somewhere.
Yeah I knew that too and would love to ask them at the interview but at the orientation session, they did (sort of proudly) mention it. They are under probation because the ACPE didn't like how UCSD structures their rotations. If I remember correctly, UCSD combined two settings into one rotation while still completing the mandatory hour for that rotation. ACPE wanted it separated, hence the probation. However, the probation is not affecting UCSD's full accreditation, which was awarded for 8 years (maximum amount) in 2012 or so. They mentioned that they had been working on it and the probation should be lifted by the end of this year.
 
Mar 4, 2012
849
158
81
Durham, North Carolina
Status
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Yeah I knew that too and would love to ask them at the interview but at the orientation session, they did (sort of proudly) mention it. They are under probation because the ACPE didn't like how UCSD structures their rotations. If I remember correctly, UCSD combined two settings into one rotation while still completing the mandatory hour for that rotation. ACPE wanted it separated, hence the probation. However, the probation is not affecting UCSD's full accreditation, which was awarded for 8 years (maximum amount) in 2012 or so. They mentioned that they had been working on it and the probation should be lifted by the end of this year.
i see. thx a lot!
 
Feb 28, 2014
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Hi there, thank you for sharing your experience. How about UCSD? I think what UCSD has achieved for the past 10 years are really solid and possibly makes it one of the best pharmacy schools in CA. I ask because I consider going to UCSD instead of USC, despite its "brand," and I didn't apply to UCSF.
Yeah, could someone shed some insight into UCSD in comparison to USC?
 
Mar 25, 2014
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I've calculated the loan debts after 4 years to be approximately equal to ~$330,000.00.

Can any graduates verify if this is correct?
 

Doc Hawaii

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Most classmates are saying ~$250k, but your number seem more realistic if you factor in additional loans for living expenses (rent, gas, food, utilities, etc).

However,

1. If you live at home,
2. And/or are working numerous hours as an intern (at least 1 student in my class worked 40+ hrs/wk during all 4 yrs at Ralphs-and he also scored very high grades in all classes...pretty amazing), and
3. Take loans only for tuition,

then the amount owed is ~half of your number. Standard monthly payments are around $2100/month once the grace period ends.

If UCSD is the less expensive option-do the obvious-go there. Their academic probation effectively means little, the program will improve, and they will return to the good graces of the accreditation board.

USC always has PGY-1 residents from UCSD. They are as good (or better) than others from elsewhere. Heck, pharmacy students take Gross Human Anatomy with the medical students...that says a lot about their program.
 
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BMBiology

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I've calculated the loan debts after 4 years to be approximately equal to ~$330,000.00.

Can any graduates verify if this is correct?
Actually it is more if you don't live at home. Look at the high fees like health insurance, parking, student loan origination, etc. Add those fees up, add the compounding interest and I would say it is close to 400 k. Remember I am not even including undergrad loans. You would not be able to pay this back in 10 years. Virtually impossible on a pharmacist salary.
 
Mar 25, 2014
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Actually it is more if you don't live at home. Look at the high fees like health insurance, parking, student loan origination, etc. Add those fees up, add the compounding interest and I would say it is close to 400 k. Remember I am not even including undergrad loans. You would not be able to pay this back in 10 years. Virtually impossible on a pharmacist salary.
I'm going to recalculate again, but yeah I think there are some costs that I forgot about. I believe I did include some origination fees though.

I mean, I think in an economy where pharmacists are in demand, I would be okay with this, but the fact that there are so many new schools now makes me really reconsider this career.
 
Mar 25, 2014
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Actually it is more if you don't live at home. Look at the high fees like health insurance, parking, student loan origination, etc. Add those fees up, add the compounding interest and I would say it is close to 400 k. Remember I am not even including undergrad loans. You would not be able to pay this back in 10 years. Virtually impossible on a pharmacist salary.
https://pharmacyschool.usc.edu/programs/pharmd/pharmdprogram/cost/

Here is USC's listed Cost of Attendance.

I've gone ahead and calculated what it would cost living at home and living away for 4 years.

Year 1:

Living at Home:
$60,472.00 with parking and transportation fees included.
Possibly subtract ~100-300 for lower origination fees.

Living Away from Home:
$76,372.00 with parking fees.

Subtract 3,500.00 if you have your own computer already.

Years 2 - 4:

Living at Home:
$56,679.00 with parking fees / year
Subtract ~100-300 for lower origination fees

Living Away from Home:
$72,579.00 with parking fees / year


Grand Total With Compounded Interest:

Living at Home:
~$264350.00

Living Away from Home:
~$337,000.00

With PGY1 Residency and Deferment:
Living at Home:
~$278,889.00

Living Away from Home:
~$355,535.00



So my questions now become, if you want to be a clinical pharmacist, how much do you usually start with in salary? How long does it take to pay off the debt? Is it worth it?

Serious food for thought for some of us California P0's.
 

BMBiology

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I think your number is within the ballpark figure but I think that's the minimum. Many students borrow more for other things like pharmacy conferences, professional working clothes, frats and clubs fee, eating out and even going on vacation. So it can easily be much more.

Lets say by the end of your pharmacy education, you owe between 335-400 k (including undergrad loans). The standard 10 year repayment plan (6.8% interest rate): http://www.finaid.org/calculators/loanpayments.phtml

(1) $335,000 loan balance: $3850 a month or $46,200 a year
(2) $400,000 loan balance: $4,603 a month or $55,200 a year

If your pre-taxed salary is $120,000 a year: about $76,000 (after CA and federal taxes).

http://www.paycheckcity.com/calculator/salary/

$76,000 does not include money needed for your health and dental insurance and for your 401 k. So it is virtually impossible to pay it off within 10 years. You have to enroll in PAYE or IBR which allows you to pay less per month. The lower payment helps but since it is over a 20-25 year period you would end up paying a lot more interest. It's doable when you are single and do not have a family. However, it is not easy when you are older and you need to save money for a house, pay the mortgage and support your family. You will have to do all of those things while in the midst of still paying your student loans.
 
Mar 25, 2014
16
1
1
Status
Pharmacy Student
I think your number is within the ballpark figure but I think that's the minimum. Many students borrow more for other things like pharmacy conferences, professional working clothes, frats and clubs fee, eating out and even going on vacation. So it can easily be much more.

Lets say by the end of your pharmacy education, you owe between 335-400 k (including undergrad loans). The standard 10 year repayment plan (6.8% interest rate): http://www.finaid.org/calculators/loanpayments.phtml

(1) $335,000 loan balance: $3850 a month or $46,200 a year
(2) $400,000 loan balance: $4,603 a month or $55,200 a year

If your pre-taxed salary is $120,000 a year: about $76,000 (after CA and federal taxes).

http://www.paycheckcity.com/calculator/salary/

$76,000 does not include money needed for your health and dental insurance and for your 401 k. So it is virtually impossible to pay it off within 10 years. You have to enroll in PAYE or IBR which allows you to pay less per month. The lower payment helps but since it is over a 20-25 year period you would end up paying a lot more interest. It's doable when you are single and do not have a family. However, it is not easy when you are older and you need to save money for a house, pay the mortgage and support your family. You will have to do all of those things while in the midst of still paying your student loans.
Can you pay more than the minimum per month? This entire loan situation reminds me of the housing bubble collapse in the 2000s.
 

BMBiology

temporarily banned~!
15+ Year Member
Feb 26, 2003
7,285
2,482
381
Can you pay more than the minimum per month? This entire loan situation reminds me of the housing bubble collapse in the 2000s.
Yes you can but you really need to pitch your penny in order to pay more than the minimum. Keep in mind that 95% of the pharmacists make pretty much the same salary. It's very difficult to differentiate yourself. Even if you do a 1-2 year residency, you may still not make more than the guy working at CVS. It's not like medicine. More training does not equate to more compensation.
 
Mar 25, 2014
16
1
1
Status
Pharmacy Student
Yes you can but you really need to pitch your penny in order to pay more than the minimum. Keep in mind that 95% of the pharmacists make pretty much the same salary. It's very difficult to differentiate yourself. Even if you do a 1-2 year residency, you may still not make more than the guy working at CVS. It's not like medicine. More training does not equate to more compensation.
Yea I understand the salary difference is almost negligible or even less than retail. It's okay though, I would prefer to work clinical anyways
 
Mar 25, 2014
16
1
1
Status
Pharmacy Student
Yes you can but you really need to pitch your penny in order to pay more than the minimum. Keep in mind that 95% of the pharmacists make pretty much the same salary. It's very difficult to differentiate yourself. Even if you do a 1-2 year residency, you may still not make more than the guy working at CVS. It's not like medicine. More training does not equate to more compensation.
Yea I understand the salary difference is almost negligible or even less than retail. It's okay though, I would prefer to work clinical anyways
 

Doc Hawaii

10+ Year Member
Jun 2, 2008
114
42
261
Los Angeles County
Status
Pharmacy Student
Median. Variance not shared. Take everything they say with a grain of salt, as there are those with far more/less debt, and what matters is the individual's balance. A small number have no debt due to their family's financial support.

Private schools are incredibly expensive, and all the points raised about repayment are valid. Buyer beware!
 
Apr 11, 2014
1
0
1
Status
Pre-Pharmacy
I was pretty set on attending an out of state school too, but my mentor suggested that if I wanted to work in California, that it'd be easier just to go to school here. So we can learn the laws here. (But that wasn't the reason why I ended up staying, there are much more biotech jobs in California than my other choice)



My cumulative GPA is 3.45

That point was to emphasize that I had poor grades during the start of my community college career, so it would seem that they aren't just looking for a bookworm that has top grades



TBH, if you already got into Minnesota, you should cancel your interview with USC. I have friends that go there and they say it's a great school.
Im currently debating where i should school this upcoming fall minnesota vs usc. i was just curious as to why you would suggest someone cancel their interview all together?