Will an extra year matter?

[Lokhtar]

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Hey guys,

I am 23 and about to start this whole process. To finish my pre-reqs and take some upper level courses, I have the option to go part time, which will take three years, or full time, which will take two years, and I'm torn on which option to take. I have just gotten a pretty good offer to work part time (approx. $45/hour, 20 hours a week and $$ could go up depending on project), which is about a 20% increase from my current salary and pretty hard to pass up, but I don't know how it will look on medical school application if I only take the classes part time. The advantage of part time is that I'd have no debt and I can increase my savings as well, before medical school.

Does anyone have any thoughts or recommendations?

 

[Captain Fantastic]

I had a similar situation, where I was offered a job on a unique project. Like you, going part-time would delay my application by a year. I too struggled with the decision.

Ultimately I decided to take the offer. I did get one full-time semester in before I cut back to part-time. It turned out to be a fantastic experience and I believe it actually strengthened my application more than just taking classes would have done. During my application process, nothing negative was said to me about my decision.

Good luck on your decision!

 

[DrJekyl]

I think you should just focus on school and finish in two years. You are going to acquire so much debt during medical school that whatever you save now will not matter. If you are concerned about the finances, your best bet is to become as competitive as possible and gain admission to your in-state medical school.

 

[Lokhtar]

I think you should just focus on school and finish in two years. You are going to acquire so much debt during medical school that whatever you save now will not matter. If you are concerned about the finances, your best bet is to become as competitive as possible and gain admission to your in-state medical school.

Unfortunately, my state school is not much of a state school, in terms of finance or in-state preference. The thing is, I've been working for five-six years, and I have saved up around $130k so far.

In the next three years, with this pay even if part time, I can get my savings up to $180k or so, and without any debt - which would enable me to pretty much graduate medical school with little or no debt. That sounds appealing to me, but is 60-70k worth a whole year (cause my pay as a physician would be more than 70k if I can do that a year earlier)...

Of course, an extra year might mean my application is stronger on the EC front if I have time to do more, but I wouldn't be in school full time.....

 

[Nasem]

if you have a 130k saved up today....

Forget working, go fulltime 2 years, your going to spend about 50-70k of that money just to finish up those 2 years and the whole application process and all that...

Man... how the hell were u able to save 130k over 5-6 years ? what kind of job did you have ? lol



You see, I was in a similar situation (2 years ago), I work as a software engineer and when I decided to go the medical route, I also had an option to go full time or part time.... UNFORTUNATLY, I didn't have any money saved and I had almost no money left to borrow from stanford loans for my undergrad studies (post-bacc), so I was FORCED (and Still am) to continue my post-bacc as a part time student which I hate because Medical school applications are getting very competitive year after year and the longer you wait, the harder it becomes trying to get in....

good luck

 

[Lokhtar]

if you have a 130k saved up today....

Forget working, go fulltime 2 years, your going to spend about 50-70k of that money just to finish up those 2 years and the whole application process and all that...

Man... how the hell were u able to save 130k over 5-6 years ? what kind of job did you have ? lol



You see, I was in a similar situation (2 years ago), I work as a software engineer and when I decided to go the medical route, I also had an option to go full time or part time.... UNFORTUNATLY, I didn't have any money saved and I had almost no money left to borrow from stanford loans for my undergrad studies (post-bacc), so I was FORCED (and Still am) to continue my post-bacc as a part time student which I hate because Medical school applications are getting very competitive year after year and the longer you wait, the harder it becomes trying to get in....

good luck

I've been working as a software engineer since I was 18 (I'm 23 now). My total expenses per month are about $1000, and I put every other penny in an investment account, which allows me to save most of my income. $500 for rent (share with 3 people), $150 for food (we cook), $250 for misc such as clothing, entertainment, etc., $100 for books and such.

I don't really want to work full time. If I work part time for three years, I know I can get my savings up to $180k. But as I said, it adds an extra year.

 

[DrJekyl]

You have to show the schools that you can handle a tough schedule of classes and do well. They don't realize that taking a couple of classes and working full time can be just as challenging. As far as ECs go, I doubt that most schools care that much just as long as you have done something to see what its like to be a physician. All they really care about is numbers.

 

[gman33]

It won't make any difference to your application as long as you do well in your classes. Do want feels best to you. If you want to keep working and take the extra year, than do that.
I'd rather get it over faster and start medical training.
An extra $50-60k of debt won't make too much difference in the long run.
As you said, you'd make it back in your first year as a doc.

 

[Lokhtar]

It won't make any difference to your application as long as you do well in your classes. Do want feels best to you. If you want to keep working and take the extra year, than do that.
I'd rather get it over faster and start medical training.
An extra $50-60k of debt won't make too much difference in the long run.
As you said, you'd make it back in your first year as a doc.

Thanks.

I think I'll work for one year part time while doing classes, while going to school full time for the second year. This will allow me to finish in two years while still generating income for at least one year.

 

[sunny1]

I think I'll work for one year part time while doing classes, while going to school full time for the second year. This will allow me to finish in two years while still generating income for at least one year.

Lokhtar, this is a good plan. I think working part-time is fine. Just don't let yourself get sucked into working full-time! I went back with part-time work and part-time classes and everything was great.

Now, though, I moved to another state and am working full-time for extremely reduced in-state tuition (compared to out-of-state tuition) but still taking part-time classes. What's done is done and I'll be ok because I'm not trying to raise my GPA by a super huge amount, but I can guarantee you that I don't have as much time to study for my classes and it will be reflected in my grades. It may only be one class with a B vs. an A, but it's still a difference. I also dropped a lab this semester to be completed later, i.e., during the application process. Grr...

So stay firm to your intentions, and you should be good to go with your timeline!

 

[njbmd]

Hey guys,

I am 23 and about to start this whole process. To finish my pre-reqs and take some upper level courses, I have the option to go part time, which will take three years, or full time, which will take two years, and I'm torn on which option to take. I have just gotten a pretty good offer to work part time (approx. $45/hour, 20 hours a week and $$ could go up depending on project), which is about a 20% increase from my current salary and pretty hard to pass up, but I don't know how it will look on medical school application if I only take the classes part time. The advantage of part time is that I'd have no debt and I can increase my savings as well, before medical school.

Does anyone have any thoughts or recommendations?

Part-time versus full-time is of little issue compared to your performance in your courses and the fact that you are employed. If you have a job, you would NOT be expected to attend school full-time. If it takes you longer and your grades stay high, then that extra year is worth the time.

Do NOT hurry thorough the process because someone "told" you that you have to "prove" something by overloading yourself. The best proof of an ability to handle a challenging medical school curriculum is high grades in your coursework period coupled with an excellent score on the Medical College Admissions Test.

If you are working then it is expected that you would not be taking a full-time course load. That pile of money is going to come in handy especially when you start adding up the costs of applying and interviewing.

 

[2008orbust]

I am kind of in a similar situation. IN prep for medschool, I have saved up a chunk nearly as big as yours. I paid off the house and cars and have done everything I can to get our monthly bills down to food, heat, phone, insurance (unfortunatly, my kids are little and will be outgrowing clothes on a regular basis, so i'll add clothes to the list too). I have a wife and two kids and am trying not to upset their lives too much more than quitting my job and not getting another one for 10 years already will change things.

I have been looking at loans versus using my savings too. However, with the current market, I can't claim any gains like you speak of. I start medschool in August and about to fill out my financial aid packet. I am hoping that they look more at the fact that I am quitting my job and will not have an income and ignore the fact that I have enough in savings to write them a check for all 4 years. I know they won't throw a heap of free money at me, but I am hoping for a little. Having a family makes me feel like there is so much riding on every decision (not that being single makes your situation any easier).

Good luck with your journey to medschool.