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I know of a guy (non-resident at his school) who just took $83,000 for his first year
BTW this guy is not me, thankfully
BTW this guy is not me, thankfully
Friend taking out 100k for just first year at Midwestern dental school in Downers Grove IL. It's also their first year of operation. WHY so much???
Friend taking out 100k for just first year at Midwestern dental school in Downers Grove IL. It's also their first year of operation. WHY so much???
Very depressing thread. No one should ever have to pay those amounts to attend school. Some of these people may literally be in debt for the rest of their lives.
78,000- friend in NYC
If you crunch the numbers and factor in interest...his total debt will be about tree fiddy
I took 81k last year...80 this year. In philadelphia, semi non trad, homeowner 1950/mo mortgage, large car loan/large car ins.
Nothing from undergrad or graduate school so I am alright for now. Hopefully my fiance gets a salary bump up weve been waiting for for 6 months now, so that I can give back some of that loan money.
Friend taking out 100k for just first year at Midwestern dental school in Downers Grove IL. It's also their first year of operation. WHY so much???
They need to support like a dozen programs over 2 campuses. And because people (who are usually less competitive) are willing to pay that much so they can be a dr, dmd, pharmd, etc.
Hey Willen, how were you able to take out so much? Is that above and beyond the cost of living?
Its a huge pain in the ass. Basically what I need to do is fill out a form with all my expenses broken down...bills to back that up...and I need to bring it to financial aid and they approve it. Essentially what I do is find the most expensive bill from recent history and set it at that.
I would rather have TOO much money than not enough and have to deal with financial aid mid quarter when im busy. Can always give it back. You need to be creative with the system if you are in my situation. My mortgage is 19XX a month...but I own the home with my fiance and she pays half (school doesnt know this). So that leaves me with 850 extra a month to cover my car loan/car insurance+ a little extra on the side (since for those of you who dont know car loans are NOT coverable when it comes to student loans). 490 a month is a lot to come up with for a car loan your school/the system pretends doesnt exist.
I fear for some of these people in this thread. Being shackled with debt forever.
OOS COA at my school is 84k. I'm OOS... :cry:
A friend of a friend took out an extra 50K a semester just for "lifestyle enhancements." I think their justification was that they were going to be a hotshot, so they should start living like one.
Yeah, and never be able to retire.
Really? How? You cannot get education loans beyond the COA determined by your medical school's office of financial aid. For example, wells fargo offers loans for medical students however the COA must be verified by the financial aid office.
I thought of trying to get more loans because I wanted to get a place on the beach but could not find a way to secure additional educational loans without going through the financial aid office. Please explain how additional loans are possible?
For my SMP I used government loans + took out a MEDCAP student loan through Wells Fargo... it's a loan only for health professions students and the amount was up to me, not based on my COA. I'm sure there are plenty of loan options out there to get additional $$$, the only question is why would you want to have to pay that much more back
I feel your pain...and getting IS is highly unlikely
For my SMP I used government loans + took out a MEDCAP student loan through Wells Fargo... it's a loan only for health professions students and the amount was up to me, not based on my COA. I'm sure there are plenty of loan options out there to get additional $$$, the only question is why would you want to have to pay that much more back
Does the MEDCAP loan work out to be cheaper than a Stafford loan?
For my SMP I used government loans + took out a MEDCAP student loan through Wells Fargo... it's a loan only for health professions students and the amount was up to me, not based on my COA. I'm sure there are plenty of loan options out there to get additional $$$, the only question is why would you want to have to pay that much more back
you guys are making me feel great about the 40K i took out this year
I'm currently using government loans for med school, as the interest rate on the MEDCAP is higher and no portion is subsidized.
that's a lot of cell-tech
Doing a MD/MPH program in 4 years... 1st year loans were definitely >$100,000. Granted, I took over 3/4 of the coursework for the MPH degree, but still...not the easiest number to swallow. At this point, the numbers don't even matter...it's like monopoly money
I wont sell my home that would be a HORRIBLE financial/personal move in my situation. I refuse to rent ever again unless there are very compelling circumstances. I think its actually the best move weve made. The car is another story. I am VERY under water on my loan so dumping the car and getting a beater is sort of out of the question sadly. It just wouldnt be worth it at this point. I live about 45 minutes-an hour from school so having no car is out of the question as well.Why not sell the car and home until you can afford them? That sounds like it's going to be horrible to repay @ 7-8%. Your loans will roughly have doubled before you can even BEGIN to repay them significantly.
The out-of-staters at my school who opted for the maximum living loans took out somewhere around $83k. I took out $8.5k last year \m/ (savings + parents' 529)
I know of a guy (non-resident at his school) who just took $83,000 for his first year
BTW this guy is not me, thankfully