Where do i stand?

[Leonidas93]

Advertisement - Members don't see this ad

I am curious as to where i stand in regards to my financial situation; compared to most premeds. My parent has set aside 100k for medical school for me, however this is all i get. Assuming worst case scenario I get into an expensive school (40k+), how bad of a situation will I be in? Will the necessary loans be too much, or is my situation common among med students? I am the only child of a single parent making less than <40k a year. Im also caucasian. Thanks

 

[CuriousPharmD]

your EXTREMELY lucky to have parents put aside 100k for school for you...to make it more clear...the top 1% probably gets school all payed for with zero loans....your probably in the top 5%...

 

[DrMidlife]

Assuming worst case scenario I get into an expensive school (40k+), how bad of a situation will I be in?

40k (tuition+fees) is fairly normal for med school these days. More than about $60k is expensive. The cost will keep going up, due to state/fed budget cuts.

Look at full cost of attendance, not just tuition+fees. Do everything you can to get into your state's public school(s).

Will the necessary loans be too much, or is my situation common among med students? I am the only child of a single parent making less than <40k a year. Im also caucasian. Thanks

$250k in student loans is the new normal. The media still make it sound like $150k is average, but that includes students who don't borrow at all.