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What would you guys do?

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nycfuture2013

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Pay for med school on your own. The federal loans for med school are all student loans anyway. Even the government thinks it's your job.
Also, after your residency you can still likely live comfortably while paying off your loans. You can likely even pay $1,000 or so over your required monthly payments (this is advisable- it pays off the principal more quickly, so you end up paying less overall) and still be able to afford to live pretty comfortably.
 

Asyouwereatrio

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To be honest, this is a silly question.

:thumbup:

This is a silly question. Are you saying you considering alternative career paths because you don't want your parents to pay for your education and you don't want to "pay off" these massive loans, that "most" medical students take on during their education.

If it were as massive as you're making it sound, more people wouldn't do it, yet they do year after year.

Think of our loans in this manner. Most people take out a mortgage of a few hundred thousand to buy a home and the average couple likely makes say...80K per year. As physicians, we make somewhere around 1.5 to 2 times that amount (on average, but a handful of us will likely make more). That difference in income will easily allow us to pay our educational loans and any other obligations we may have.

Doctors wouldn't be living the "posh" lifestyle that they do if loans were eating such a huge chunk of their income. One of my cousins is paying off his loans and his wife's pharmacy school loans, and he owns two houses in Southern California. I won't tell you what kind of car he and his wife drive, because then I'll start to sound really obnoxious. It's not as hard as it seems.

In short, go for it if you truly want to. Take on loans if you need-most people do it.
 

transfec

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Accept what they are willing to give you now and give back to them when you can. They care about you and your goals; they love you. Just make sure you are willing to do the same when your children are pursuing their goals! :)

Don't feel guilty for having a loving family that is willing to help you along the way.
 

DiamondBar

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Ohhhhh I think I understand. I didn't know how the loan system worked.
Thanks !

:thumbup:

This is a silly question. Are you saying you considering alternative career paths because you don't want your parents to pay for your education and you don't want to "pay off" these massive loans, that "most" medical students take on during their education.

If it were as massive as you're making it sound, more people wouldn't do it, yet they do year after year.

Think of our loans in this manner. Most people take out a mortgage of a few hundred thousand to buy a home and the average couple likely makes say...80K per year. As physicians, we make somewhere around 1.5 to 2 times that amount (on average, but a handful of us will likely make more). That difference in income will easily allow us to pay our educational loans and any other obligations we may have.

Doctors wouldn't be living the "posh" lifestyle that they do if loans were eating such a huge chunk of their income. One of my cousins is paying off his loans and his wife's pharmacy school loans, and he owns two houses in Southern California. I won't tell you what kind of car he and his wife drive, because then I'll start to sound really obnoxious. It's not as hard as it seems.

In short, go for it if you truly want to. Take on loans if you need-most people do it.
 
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web2linc

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Ohhhhh I think I understand. I don't know how the loan system worked
Thanks !

Word? Have you ever applied for financial aid of any sort? I mean I understand it if your ballin like that, but if your parents were really working that hard to pay for your school, then you should have at least applied.

I doubt anyone pays for their medical school costs out of pocket (unless you come from a wealthy family, came up in the game or inherited a fortune).
 

DiamondBar

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Word? Have you ever applied for financial aid of any sort? I mean I understand it if your ballin like that, but if your parents were really working that hard to pay for your school, then you should have at least applied.

I doubt anyone pays for their medical school costs out of pocket (unless you come from a wealthy family, came up in the game or inherited a fortune).


Sorry for the poor grammar!

Sorry but I don't get what you are asking here! Yes I applied for financial aid
But I made this post because medical schools cost a fortune and I wasn't sure how the loaning worked for medical schools :)
Thank you!
 
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nycfuture2013

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I'm not trying to be rude, but:
what is your first language?
do you currently go to school in America?

I think being an American citizen (or rather, not being one) may affect your ability to take out certain loans. Most medical school loans are government loans, and are (I believe) only available to citizens and permanent residents.
 
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